Sproing Fitness Update | Shark Tank Season 10

Sproing Fitness is designed to replace the harmful elements that a traditional treadmill can cause to professional runners. With an innovative product designed to create a safe alternative for cardio fitness, Paul Toback and Steve Lenz believe their company is worthy of a $500,000 investment from the sharks. They are offering up 8% equity in exchange for their asking price, but let’s see if they were able to secure a deal before we take a look at our Sproing Fitness update.

Shark Tank Sproing Fitness Update

Sproing Fitness Update

  • Entrepreneurs: Paul Toback and Steve Lenz
  • Business: Fitness gym offering HITT workouts
  • Ask: $500,000 for 8% equity
  • Result: No deal
  • Sharks: None

Kevin O’Leary watched the demonstration and really seemed confused at why the product was even necessary. He asked the entrepreneurs about the cost of selling one unit to a local gym. Kevin wasn’t pleased with the answer that came from Paul and Steve. They claimed that selling a unit to a gym features a price point of $6,400.

Mark Cuban believed there were too many challenges to help develop this company and most importantly, he didn’t feel like it was a company that deserved a $500,000 investment. He was the first shark that dropped out of negotiations. The four remaining sharks also dropped out for similar reasons.

While Paul and Steve were unable to earn a deal from any of the five sharks featured in Season 10 Episode 9 of Shark Tank, that doesn’t necessarily mean the company reached the end of the line. There’s still potential for some companies to have success, even if it doesn’t earn a deal on Shark Tank. Let’s take a look at the Sproing Fitness update to see how the company is doing in the present day.

The good news is that Sproing Fitness is still in operation and has managed to generate more than $10 million per year in recent years. It has expanded into five designated studios for its business and operates its innovative treadmill products in those venues.

While the company didn’t receive a deal, it has done a nice job keeping the business growing in the years that followed its appearance on Shark Tank and is continuing to look for new ways to expand as new opportunities present themselves. We can’t wait for our next Sproing Fitness update.

You can find the other company updates from Season 10 here:

Don’t forget to take a look at our Season 10 products page! We’ve got more company updates from Shark Tank Season 10.