Mike Hartwick and Sarah Ponn have created the world’s first total body training equipment, designed to mimic the instability of a surf board on the water. Will they surf away with a deal on
Shark Tank Surfset Fitness Update
- Entrepreneurs: Mike Hartwick and Sarah Ponn
- Business: Surf-inspired workout equipment and group fitness classes
- Ask: $150,000 for 7% equity
- Result: $300,000 for 30% equity
- Shark: Mark Cuban
Mike and Sarah came onto
After everyone’s excitement subsided, the sharks were ready to get down to business and quickly learned that Mike and Sarah had $150,000 in sales during the last 4 months alone.
Mike and Sarah shared that the product was featured on Good Morning, America, and Access Hollywood, which led to a big boost in revenue.
While the sharks recognized the appeal, Daymond John was the first to inquire about their $1.5 million valuation. Mike replied that it was a result of 200 inquiries to franchise, indicating incredible public interest and potential to scale.
Mark Cuban was the first to make an offer and offered $300,000 for 33% equity. He recognized the value but felt that demonstrations and the public endorsement of pro surfers would be integral to promoting the product.
Robert disagreed with the need for hiring pro athletes and offered $150,000 in exchange for 20% equity instead.
Daymond jumped in at this point, offering $150,000 for 25% equity, adding that he’d cover all of the manufacturing costs associated with the RipSurfer X.
Barbara Corcoran asked if Mark would allow her to come in on the deal, and when he said no, she went out.
Kevin asked Daymond if he could go in with him, and Daymond obliged the request. Mike and Sarah now had three offers to choose from, but Mark upped the ante by imposing his personal “24-second shot clock” on the deal.
Mike countered by asking Mark if he would come down in equity at all, and Mark agreed to do $300,000 for 30%, if Mike and Sarah would say yes immediately.
Daymond cried out and urged them not to take Mark’s deal, but ultimately the two entrepreneurs accepted Mark’s offer. What happened next for the company? Keep reading our Surfset Fitness update to find out!
We have good news to share in our Surfset Fitness update! The company would go on to partner with major corporations including UnderArmour, Garnier Fructis, Qdoba Mexican Grill, and more.
While Mike Hartwick left the company in 2021. Surfset Fitness continues to thrive, with Surfset-certified trainers and classes in more than 30 cities nationwide. Check out their products and offerings on the Surfset Fitness website.
Would you like to learn about the other companies featured on Season 4 Episode 2? Follow the links below!
For even more on companies and products, be sure to stop by our Season 4 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!