Her native continent of Africa serves as the creative source for Expedition Subsahara, a business that makes and sells woven baskets and other hand-crafted items for the home. On the fourteenth season of “Shark Tank,” Sofi Seck presented her company but did not end up getting a deal. As of the year 2022, it is predicted that Expedition Subsahara is worth $2 million.
- Establishing the Business
The Senegalese woman had a serious back injury during powerlifting, and as a result, she was unable to continue her workout routine. She was unable to move for many months as a result of it, and it was at this period that she conceived of the idea for Expedition Subsahara.
After regaining her footing and getting back on her feet, she started the company in 2017. Over one hundred and twenty skilled weavers from Senegal are used by Sofi in the production of gorgeous baskets, vases, and other decorative items.
Making money is the primary focus of the firm. When Sofi first launched her company, she made a commitment to give twenty percent of the proceeds to the construction of a STEM school for female students in her own country.
- Shark Tank
When Sofi first started her firm, she had no intention of appearing on television. However, one day, she received an email from a producer working on the show Shark Tank asking for additional information about her business. Due to the fact that she is such a huge fan of the program, she just could not pass up this chance. She had to go through a few interviews and fill out some tedious paperwork, but in the end, she was given permission to appear in the series.
When presenting the presentation, Sofia was obviously anxious, as seen by her rapid speech. She approached the Tank with a request for $500,000 in exchange for 10%. The company’s sales during the first nine months of the year were $900,000, while its lifetime sales totaled $3.6 million. The Sharks were blown away by the number of sales!
In the year 2021, Expedition Subsahara generated a gross profit of $1 million but only a net profit of $75,000 due to the fact that she re-invested the bulk of the money gained from sales back into the company. Both the amount that she paid her employees and the amount that she spent to acquire new customers were deemed unacceptable by the Sharks. Unfortunately, the Sharks did not believe that it was a sustainable firm, and they thought that the price was excessive.
Fans of the show Shark Tank will be eager to support her goal, despite the fact that her presentation did not go as planned. Even though the company’s online sales are doing quite well, they still need to concentrate on cutting their overhead costs. Over one million dollars will be made from Expedition Subsahara in 2022, while its current value is expected to be two million dollars.
The variety of goods that they provide is expanding, and some of the items that they now sell include vases, coasters, trays, and baskets. Prices start at $39 and go all the way up to $135.
Sofi has never had any issue garnering press in the past, and there is no reason to believe that this will change after the concert. They already have a sizable following on social media and have been covered by big publications including the Huffington Post, Forbes, and Yahoo News, among others.
- Who founded it?
Sofi Seck is a native of Senegal, which is located in West Africa. When he was 14 years old, he came to the United States in order to further his education. She ultimately chose to make her home in Florissant, Missouri, and received her education at the University of Missouri in St. Louis.
She was appreciative of her heritage even when she was living in the United States. Sofi was raised into the Wolof Tribe, which was very influential in the commodities trade from the 14th to the 16th century and was particularly dominating during that time period. The weaving done by members of this tribe earned them the greatest notoriety.
Sofi’s moms and grandparents taught her about the art form when she was a kid, and as a result, she was exposed to it at an early age. However, prior to using this talent in the establishment of her own firm, she worked as a photographer.