Prep Expert

A standardized-test-preparation service.

Founder:
Shaan Patel, 29
2018 Revenue:
$6 million
Industry:
Education
Founded:
2010
30
Raised:
$250,000

Shaan Patel had his heart set on attending a good college and eventually heading to medical school, but he didn't get the SAT score necessary for admission. He locked himself in a library the summer before his senior year of high school and taught himself how to ace the exam. Once he did, he knew he was on to something. While Patel still dreamed of becoming a dermatologist, he also now wanted to bring his test-preparation knowledge to others. Today, his 30-person company, which started from a single offline SAT-prep course in Las Vegas, hosts 10,000 off- and online students annually. They pay Prep Expert anywhere from $1,099 to $1,399 to prepare for standardized tests including the SAT, ACT, and GMAT. One of the defining moments for Prep Expert was when Patel appeared on Shark Tank in 2016. Mark Cuban agreed to give him $250,000 in exchange for 20 percent equity and gave the company a boost in publicity. Patel is a dermatologist and the author of 15 test-prep books. He even co-authored an entrepreneurship guide for children with Cuban. --Emily Canal

MORE COMPANY INFORMATION

Twitter:
@prep_expert