Spooner Boards Balance Boards Update | Shark Tank Season 7

In 2006, Bernie Miller saw kids struggling to practice skateboarding safely without smooth pavement or a proper board. So he helped create Spooner Boards—a strong plastic board that lets kids learn balance and tricks on carpet, grass, or any flat surface. It gives them a safe and fun way to build skills at home. Will the sharks hop on board? Let’s find out in our Spooner Boards update and pitch recap.

If you’re short on time, here’s a quick overview of what happened to Spooner Boards after Shark Tank.

Bernie entered Shark Tank Season 7, seeking $120,000 for 10% equity in his balance training board. After his pitch, he made a deal with Mark Cuban and Barbara Corcoran for $400,000 for 16% equity.

In terms of a Spooner Boards update, the deal with the sharks did not finalize. However, the company continued operating independently. It expanded its product line, secured retail partnerships, and has grown to around $2 million in annual revenue.

Shark	Result
Mark Cuban and Barbara Corcoran	Accepted offer of $400,000 for 16% equity
Kevin O’Leary	$400,000 paid in $100,000 per year, with a $2 royalty per board sold until he earned $800,000 back
Lori Greiner	No offer
Robert Herjavec	No offer

Shark Tank Spooner Boards Pitch

• Entrepreneurs: Randy Putland, Reuben Guymer, and Bernie Miller
• Business: Balance board, versatile toy 
• Ask: $400,000 for 16% equity
• Result: $400,000 for 16% equity
• Sharks: Mark Cuban and Barbara Corcoran

Randy, Reuben, and Bernie entered Shark Tank and made one of the most entertaining presentations on the show.

They pitched Spooner Boards as a company that sells balance training boards for kids. The guys showed off several of their wheelless boards right on the tank floor and on a display ramp.

The entrepreneurs showcased two main products: The Spooner, which mimics the feel of skateboarding or snowboarding, and The Yardboard, designed for sliding on grass, dirt, snow, or ramps.

The Spooner is built for children as young as three. It helps them build balance and coordination in a fun way.

The boards let kids perform tricks safely, indoors or outdoors. The Yardboard offers a similar experience but focuses on downhill movement across different surfaces.

They had established a presence in over 1,200 retail locations and 150,000 PE programs.

They sell mostly through specialty and toy stores. These stores allow kids to try the boards before buying.

The team also promotes the products at trade shows like the New York Toy Fair. At these events, they create interactive displays with multiple boards laid out for demos.

Each board costs $12–$12.50 to produce. Retail prices are $45 for the small version and $55 for the large.

Additionally, they make strong margins and manufacture everything in San Diego. The business is 100% made in the USA.

They started by selling in a local surf shop. Kids loved the early prototypes. This led to $56,000 in sales in just six weeks.

Later, they entered schools through physical education programs, which helped them cover costs and grow. From there, they expanded to retail.

Randy said they did $1.7 million last year and were on track for $1.8 million this year.

The team runs everything in-house. Bernie handles manufacturing. Reuben leads sales. Randy manages the finances. They each earn $60,000 annually, with $400,000 left in profit after salaries.

Barbara Corcoran asked how they would use the money. Reuben said they wanted to expand beyond specialty retail and reach broader markets.

Robert Herjavec said the business was doing well, and bringing in an investor would change things. It would mean giving up some control.

Mark Cuban agreed with that and mentioned a previous experience with SurfSet Fitness that saw the owners paying the sharks back and going back to a smaller business model.

He didn’t think the Spooner team was ready for that shift.

Barbara interrupted Mark’s thought process and put an offer on the table of $200,000 for 8% equity, which was conditional on another shark joining her.

Kevin O’Leary then offered a different deal. He proposed $400,000 paid in $100,000 per year, with a $2 royalty per board sold until he earned $800,000 back. He also asked for a 3% equity option with no voting rights in case of a buyout.

Meanwhile, Barbara and Mark whispered a deal to each other. They put an offer of $400,000 at 16% equity, the original ask, on the table

Mark said they needed an immediate decision. Chaos followed as Lori Greiner tried to make another offer, and the sharks talked over each other.

After a quick discussion, the Spooner team accepted Barbara and Mark’s deal.

They left with a deal, but how do you think the company fared after that? Keep reading our Spooner Boards update to find out more about this deal.

Shark Tank Spooner Boards Update

Our Spooner Boards update found that the company did not close the deal with Mark Cuban and Barbara Corcoran after its Shark Tank appearance.

Despite that, the company is still in business and has expanded its product line to include new items like Subfloor Liquid Tiles.

Our Spooner Boards update found that they also expanded retail partnerships and continue selling on Amazon.

By 2023, Spooner Boards had grown to around $2 million in annual revenue.

While the sharks didn’t end up investing, the brand found its footing and scaled successfully without them.

If we learn more, we will be back with another Spooner Boards update.

For more from Season 7 Episode 27, check the links below:

• Dollop Gourmet Update
• CreaProducts Update
• Yourself Expression Update

Before you go, be sure to check out our list of all the Shark Tank Season 7 products.