Movie Analysis : Spike Ball

1471 Words Sep 14th, 2016 6 Pages
Introduction Chris Ruder a 39 year old founder of Wicker park house, a company that specializes in the production of spike balls made his debut on Shark tank. A spike ball retails at $53.00 on Amazon and last year, there were about 100 spike ball tournaments. Daymon John, the founder of FUBU and a shark and investor on ABC’s shark tan closed a $500,000 deal for 0 percent of the company. According to him, based on the fact that spike ball has grown from a local back yard sport to a nationwide sensation, it was an indication that it has potential to grow.
Product description
Basically, spike ball can be described as team sport that is closely related to the game of volleyball. In this sport, teams normally line up across each other and a net at the center separated them. The ball is normally put into play by hitting it with a server from behind the service boundary into the net to the opposing team. One the ball has been served, the players can move to any place they wish to prevent the opposing team from returning it. Each team is allowed a maximum of three touches. The spike ball community is growing very fast and the sport has gained wide popularity in colleges and there is already a national spike ball league in place. Teams are required to pay an average fee of $ 30 where the tournament directors keep 75% of the fee while the rest is retained by the company.
Operational cost
Spike ball is valued at $ 2.5 million. In order to set up a profitable and booming business…
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