Boho Camper Vans Update | Shark Tank Season 11
Entrepreneurs David Sodemann and Brett Ellenson pitched their camper van, sale and rental company during
If you’re short on time, here’s a quick overview of what happened to Boho after
David Sodemann and Brett Ellenson appeared on
| Shark: | Result: |
| Barbara Corcoran | Accepted deal for $150,000 in cash and $150,000 as a line of credit for 10% equity |
| Kevin O’Leary | $300,000 as a loan with a 9% interest rate over two years and 7% equity |
| Rohan Oza | $300,000 in exchange for 25% equity |
| Lori Greiner | $300,000 for 20% equity |
| Mark Cuban | No offer |
Shark Tank Boho Update
- Entrepreneurs: David Sodemann and Brett Ellenson
- Business: Camper van sales and rentals
- Ask: $300,000 for 10% equity
- Result: $150,000 cash & $150,000 as a line of credit for 10% equity
- Shark: Barbara Corcoran
Boho Camper Vans was started by David Sodemann and Brett Ellenson. David rented a camper van in Maui and came to the conclusion that this was a missing opportunity in the US.
With the rise of the ‘van life’ lifestyle, it was the perfect time to get started. Two months after returning, they’d finished their first van and rented it out when they weren’t using it.
Soon, they weren’t able to use it themselves because it was rented out too often! They figured they needed more vans, so they started making more.
Instead of using new vans, they find used cargo vans and convert them themselves. The vans have running water, an outdoor shower, and an insane storage system.
The sharks climb aboard to witness how cozy the vans are for themselves, and Lori Greiner is especially impressed.
The numbers speak for themselves. Vans aren’t terribly expensive to create—about $20,000 to make after they purchase one.
However, they rent it out for $200 a night, and one van can pay for itself in about eight months of rentals. Plus, they sell the converted vans as well, and about half of the vans they’ve sold are permanent residences for their new owners.
All in all, they’ve done $493,000 so far in the filming year, with a projected $800,000 by the end of the year. The only problem, they say, is with manufacturing.
Eventually, they want to get the process down to prefabrication, which will help to speed conversion along.
The sharks sense a great deal, and immediately start haggling. However, Mark Cuban drops out first, because he doesn’t think that it’s a great fit for him.
Guest shark Rohan Oza is the first to make an offer, but he wants more equity. He offers $300,000 in exchange for 25%, and he is not interested in haggling.
Before they can respond, Barbara Corcoran makes an offer. They need cash, of course, so she offers $150,000 in cash, and $150,000 as a line of credit for 10% equity.
Kevin O’Leary, ever the opportunist, cuts in with his version of a credit deal. He offers them $300,000 as a loan, with a 9% interest rate over two years, and 7% equity in the business.
However, the entrepreneurs are proud of being debt-free, so they say they’d rather avoid an offer that includes debt.
After being talked over a few times, Lori puts herself forward with a deal. She offers $300,000 for 20% equity but says that she wants to donate part of their revenue to the homeless for every van sold.
The entrepreneurs ask if Lori would drop down to 15% equity, but she refuses.
In the end, they have to make a decision. Despite the debt-free offers on the table, they decide to take Barbara’s offer.
It’s exactly what they asked but with half of the money as a line of credit. Was this a good deal for Barbara?
Keep reading our
We have great news to share in our Boho update. In an interview with
Further, thanks to a Boho update in Season 12, we know that the camper van company did $1.4 million in sales within the first 8 months of their episode airing. Even better, they did another $1 million in pre-sales after that.
David also told us that the deal with Barbara went through and that working with her has been great! “Working with Barbara has been fun, inspiring, and motivating,” David told us.
“The monetary investment from Barbara was a nice cushion to expand our manufacturing, but the best value we received from the show was having Barbara in our corner. She’s always available to help us strategize for the future and her experience helps us navigate obstacles along the way.”
Additionally, we learned from their Instagram page that they have since moved into a new shop, expanded their team, and donated vans to first responders.
You can find more information about their new builds and programs Boho Camper Vans website.
We’d like to thank David for taking the time to give us an official Boho update!
If you’d like to learn about the other companies featured in Season 11 Episode 16, check out the links below:
For even more on companies and products, be sure to stop by our Season 11 products page!
Andrew Smith is the founder and owner of Shark Tank Recap. He is a longtime Shark Tank fan that has been watching it for years and has seen every episode multiple times. His friends know him as the Shark Tank expert, because he can answer any question about the show! His favorite Shark Tank products are Bertello's pizza oven and Bug Bite Thing!