Shark Tank Update
Shark Tank Pitch
Surfset Fitness Shark Tank Update
Published:
3m
Boston, MA
| Name | Surfset Fitness |
|---|---|
| Main Presenters | Mike Hartwick and Sarah Ponn |
| Presenter Image | |
| Product Image | |
| Last Known in Business | 9/21/2012 |
| Main Location | Boston, MA Loading Map |
| Order Shown in Episode | 1 |
| Final Deal | Deal was made on the show with sharks Mark Cuban for $300k for 30% of company. |
Surfset Fitness Shark Tank Pitch
Mike Hartwick is a former minor-league pro hockey player who found that surfing improved his hockey performance. Mike teamed up with Sarah Ponn to create Surfset Fitness to deliver a workout on land similar to surfing.
Mike and Sarah made $150k in four months running classes. They have had over 200 inquiries for franchising Surfset Fitness classes. They may also sell the boards and seek to build out a complete lifestyle brand of merchandise.
Four of the sharks are in and start selling themselves to Mike and Sarah to get chosen. Mike and Sarah had a tough decision but went with Mark Cuban's offer.
Offers
| Made By | Label | Sharks Part of Deal | Summary |
|---|---|---|---|
| Company | Offered | $150k for 10% of company | |
| Sharks | Offered | Mark Cuban | $300k for 33% of company |
| Sharks | Offered | Robert Herjavec | $150k for 20% of company |
| Sharks | Offered | Daymond John | $150k for 25% of company with manufacturing help for the fitness boards |
| Sharks | Out | Barbara Corcoran | Out |
| Sharks | Offered | Daymond John, Kevin O'Leary | $150k for 25% of company with manufacturing help for the fitness boards |
| Sharks | Deal | Mark Cuban | $300k for 30% of company |
Mark Cuban
Made Deal
Daymond John
Offered
Kevin O'Leary
Offered
Barbara Corcoran
Out
Robert Herjavec
Offered
Updates in Shark Tank Episodes
| Update Season | Update Episode |
|---|---|
| 4 | 18 |
Surfset Fitness After Shark Tank
Sarah Ponn went on the 52 Founders podcast in 2017, here https://podcasts.apple.com/us/podcast/episode-6-sarah-ponn-surfset-fitness/id1189677721?i=1000379805350. After college Sarah was working as a personal trainer while she was looking for a journalism job. Sarah found herself in Boston at a gym where Mike Hartwick and another partner Bill were working out with a surfboard and a Bosu ball.Link Preview
here
The three worked on a prototype in Sarah's garage. Sarah was good at the digital part of the business, such as making the website and its content, Mike was very mechanical, and Bill helped keep the operation going.
Sarah, Mike, and Bill were scrappy and set up classes in New York City and Boston with prototypes. They ran up $40k in credit card debt that was due to hit 24% yearly interest when Mark Cuban's investment came in to bail them out.
Mike Hartwick did an interview shortly after Shark Tank, here https://www.thefashionspot.com/beauty/171301-a-chat-with-surfset-founder-mike-hartwick. He revealed plans to do a tour of 11 cities in the USA. In season 4, episode 18, we got an update that Mike Hartwick and Sarah Ponn visited 22 cities across the U.S., certifying over 500 Surfset trainers. Mark helped orchestrate a deal to get Surfset fitness classes at all Crunch gyms. In two months following Shark Tank, Surfest has done $500k in total sales and is on track to hit $5 million by the end of the year.Link Preview
here
Surfset Fitness has found business beyond just selling their boards to boutique gyms but also building connections with other companies and helping them with marketing. According to Sarah Ponn's LinkedIn https://www.linkedin.com/in/sarahponn Surfset at one point had 350 locations in more than 32 countries.Link Preview
LinkedIn
Surfset Fitness' social media channels went quiet around 2018 and Mike and Sarah may have moved on to other things although In 2022 their Shopify store appears to be active at surfset.myshopify.com https://surfset.myshopify.com, but I'm not 100% sure it's active.Link Preview
surfset.myshopify.com
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