Shaan Patel is a famous entrepreneur, he is known for pitching his company Prep Expert, an SAT and ACT preparation institution, to ABC's Shark Tank panel. Patel managed to land a deal for Prep Expert with the famous billionaire Mark Cuban. Cuban offered $250,000 in exchange for 20% of his company, an offer that Patel accepted.
He received a quarter million dollars of college scholarships from companies like Coca-Cola, Toyota and McDonald's. In 2007, he was chosen as a White House Presidential Scholar and had the opportunity to meet President George W. Bush.
"Prep Expert almost started by accident. When I was in high school, I raised my own SAT score from around average to a perfect SAT score, which is achieved by .02 percent of students," Patel said. He gained acceptance into prestigious universities such as Brown, Northwestern, Johns Hopkins and Berkeley.
"When I was in college, I really wanted to write a SAT prep book to help other students prepare for the SAT like I did in high school. I had a lot of unique methods and things that just weren't out there from doing hundreds of hours of preparation myself." he highlighted.
"After five or six months passed, I had all this material I'd written for SAT preparation, so I decided to leverage that material and teach SAT prep courses in my hometown of Las Vegas, the summer before medical school." he added
He also used $900 of his leftover scholarship money to build the website for what be well known today as Prep Expert.
Patel only had 18 students in his first class. However, after six weeks, those students improved their scores by 376 points on average, a totally unbelievable success. Since Cuban became a supporter and investor, Prep Expert has spread to 20 cities across the United States. The company has also been extremely successful on the internet with tens of thousands of satisfied customers recommending the online courses.
Cuban's support was crucial for the future success of the company, as the company created partnerships with affiliates, schools, nonprofits, and educational organizations in many countries like China and India. "That came with the Shark Tank exposure as well as Mark Cuban, and it just added a whole new level of credibility and professionalism to our organization," Patel mentioned.
Over the next couple of years, Patel hopes to help one million students. "I measure impact not by the revenue or number of courses, but by reaching one million students and helping them in terms of the SAT, ACT," he said. "I want to improve their lives, whether it will be related to college or scholarship or testing [or] just self-development in general."
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Prep Expert is an ed-tech company that specializes in online SAT & ACT preparation. The company offers full-length live online courses, on-demand video courses, 1-on-1 private tutoring, and more. Prep Expert has helped more than 50,000 students around the world get into elite universities and win over $100 million in scholarships.
Products
Prep Expert offers SAT and ACT courses, AP review courses, college admission counseling, K-12 tutoring, and academic success coaching.
Why Prep Expert
Top 1% Instructors. Prep Expert courses are taught by the top 1% of instructors in the world. All Prep Expert Instructors must score in the 99th percentile of the test that they teach so that only absolute masters of the exam are teaching your student.
Proven results: 50,000+ students have improved their test scores with Prep Expert. Over $100M in scholarships earned.
Tons of course options. One size does not fit all. Prep Expert offers full-length live online courses, on-demand video courses, 1-on-1 private tutoring, and more. However they learn best, Prep Expert has a course that will suit your student’s needs.
Industry-Leading Score Improvement Guarantees. If your student’s test scores do not improve, Prep Expert will refund you 100% of the tuition. Please note that Score Improvement Guarantees are not valid on Private Tutoring packages and Admission Consulting,
We are delighted to offer an Exclusive Discount of 20% OFF EVERYTHING at Prep Expert when you Join their Mailing List!!