Urban Float Update | Shark Tank Season 10

Joe Beaudry was overwhelmed by the pressure of his corporate job and needed a way to reset mentally. After experiencing the effects of float therapy, he teamed up with Scott Swerland to launch Urban Float, a business that offers sensory deprivation pods designed to help people relax, recover, and clear their minds. Will the sharks float the idea or let it sink? Here’s how our Urban Float update and pitch recap went down in the Tank.

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

Joe and Scott entered Shark Tank Season 10, seeking $500,000 for 5% equity in Urban Float. After their pitch, they made a deal with guest shark Matt Higgins for $500,000 for 12.5% equity.

In terms of an Urban Float update, the company walked away from a potential deal with Matt after his team raised concerns about the company’s debt and the future of float therapy. However, the company expanded its wellness services and continued growing through a focused franchise strategy.

Shark	Result
Matt Higgins	Accepted offer of $500,000 for 12.5% equity
Kevin O’Leary	$100,000 in cash and $400,000 as a loan with 9.5% interest for 15% equity
Lori Greiner	No offer
Daymond John	No offer
Mark Cuban	No offer

Shark Tank Urban Float Pitch

• Entrepreneurs: Joe Beaudry and Scott Swerland
• Business: Spas and Relaxation
• Ask: $500,000 for 5% equity
• Result: $500,000 for 12.5% equity
• Shark: Matt Higgins

Joe and Scott described Urban Float as a stress-relief solution built around modern pods with adjustable lighting, music, and premium design.

Customers can book a single session for $45 or subscribe to a $150 monthly membership for unlimited access.

Urban Float runs four corporate-owned stores, including one in downtown Seattle—the largest float center in the U.S.

They’ve also expanded into franchising and are now registered in every U.S. state.

Lori Greiner noted that float tanks weren’t new but said theirs looked more inviting. Joe agreed, saying their setup was built to attract mainstream customers.

Kevin O’Leary asked about cleanliness. Joe explained that the water is filtered four times and treated with UV rays and heat, making it cleaner than tap water.

Guest shark Matt Higgins said he saw value for sports recovery and mentioned possible use by the Miami Dolphins.

Mark Cuban asked how they funded operations. Joe said they raised $300,000 from friends and family to launch the first store, then reinvested over $1 million in profits to grow.

Kevin asked about the cost to open new stores. Scott said it costs $500,000–$600,000 to build one with six pods.

Lori wanted to know if they manufactured the pods. Joe said no—they’re made by another company, and Urban Float doesn’t hold any patents.

That raised concerns. Lori, Daymond John, and Mark all dropped out.

Daymond and Lori were worried about the $1 million SBA debt and the lack of proprietary products.

Kevin offered $500,000 for 15% equity. His deal included $100,000 in cash and $400,000 as a loan with 9.5% interest. He said it was non-negotiable.

Matt made a competing offer of $500,000 for 15% equity, with no loan terms.

Scott asked if Kevin would consider a straight debt deal. Kevin refused. Scott offered him 2.5% equity, but Matt thought that was too low for what was needed.

Matt said they were underestimating what expansion would take and what he could bring to the table. Scott countered with 7.5%, then 10%. Matt stood firm at 12.5%.

Daymond reminded Scott of the value Matt could bring, including $1 million in annual marketing spend through one of his companies. Lori also encouraged them to take the offer.

Ultimately, Scott agreed. They closed a deal with Matt for $500,000 in exchange for 12.5% equity.

Now, let’s get an Urban Float update to see if the company is still in business.

Shark Tank Urban Float Update

Our Urban Float update found that after the show, the deal with Matt Higgins didn’t close.

During due diligence, Matt’s team raised concerns about the company’s $1 million in debt and the uncertainty surrounding the long-term demand for float therapy.

In the end, Joe and Scott decided to walk away from the deal.

Even without the investment, Urban Float saw a 60–70% boost in brand awareness. Web traffic increased, and franchise interest picked up quickly.

The company added more staff to its franchise development team and pushed forward with its expansion plans.

At the time of filming, they already had agreements in place for 30 franchise locations.

To diversify beyond float therapy, Urban Float introduced infrared saunas, red light therapy, and BEMER pulsed electromagnetic field therapy.

However, the pandemic disrupted their growth plans. Locations in Texas and Ohio shut down, and by 2021, the company had only a few franchises remaining.

Urban Float operated five locations in August 2023. But by April 2024, they were down to three.

In July 2024, they added another site, bringing the total back up to four.

Despite the setbacks, Urban Float remains in business. At the time of writing our Urban Fload update, its annual revenue is somewhere around $2 million.

It’s great to see that things worked out well for Joe and Scott, and we hope that our next Urban Float update will be even better.

You can find the other company updates from Season 10 Episode 16 here:

• Wild Earth Update
• Kudo Banz Update
• Pooch Selfie Update

Before you go, be sure to check out our list of all the Shark Tank Season 10 products.