$1Mfor 10%
Protein Candy
Valued at $10M
The pitch
Dave Elkabas and Kara Gomes from Montreal, QC, pitched LVL Up Studio in Season 16, Episode 2, asking the Dragons for $150K for 15% of the company.
- Asked for$150K for 15%
- Valuation$1Mimplied by the ask
- OutcomeDealwith Vincenzo Guzzo
- Final deal$150K for 33%valued at $455K
Offers in the Den
| Dragon | Offer | Result |
|---|---|---|
| Michele Romanow | Concept too early, only proof of concept and no proven replicable model yet | Out |
| Wes Hall | Uncertain repeat customers post-pandemic for at-home fitness competitors | Out |
| Arlene Dickinson | Concept and model not proven enough yet | Out |
| Manjit Minhas | No offer given (went out with others) | Out |
| Vincenzo Guzzo | $150,000 for 33% equity, as an equal partner | Accepted |
Dave and Kara, from Montreal, Quebec, asked for $150,000 for 15% of LVL UP Studio, a gym offering high-energy group fitness classes built around the VersaClimber machine. Their single Saint-Laurent studio has ten machines and charges about $30 for a 30-minute class that they say burns 600 to 800 calories; they generated just under $20,000 in their first four days of operation, projected monthly revenue of $84,000 at full capacity, and had invested about $100,000 of a $300,000 Canadian small business loan, all of which had been spent on leasehold improvements and equipment.
Michele Romanow, Wes Hall, and Arlene Dickinson all went out, citing that the concept was too early-stage, unproven, and uncertain in a post-pandemic fitness market. Manjit Minhas did not make an offer. Vincenzo Guzzo offered $150,000 for 33% equity as an equal one-third partner, which Dave and Kara accepted.
Pitch details from CBC’s Dragons’ Den pitch page.
LVL Up Studio today
- StatusOut of businessLast checked September 2026
LVL Up Studio appears to have closed. Its products may no longer be available.