Tower Paddle Boards on Shark Tank
Stand Up Paddle Boarding - Season 3 Episode 309 - Update
|Stephan Aarstol on the|
Shark Tank Show
Stephan came into the Shark Tank looking for $150k investment in exchange for 10% equity putting the initial valuation at $1.5 million for the Tower Paddle Board Company. He stumbles a bit at the beginning of his presentation but soon gets back on track after Kevin O'Leary reminds him not to worry "It's only the biggest moment in your life." Stephan quickly regains his composure and gets Robert Herjevic talking about the Paddle Boards which he's already familiar with the sport.
Herjevic wants to know what makes the Tower Paddle Boards stand out from the competition. Aarstol said they did $3k in sales 4 months ago and did $35,000.00 is sales just last month alone, a ten-fold increase. Stephan goes on to say that yes, the Tower Paddle Boards are on the lower price point of the market, but the competition is selling theirs at the traditional retail stores with higher overhead costs. The Tower Paddle Board's sold exclusively online giving you a much better paddle board for the same amount of money.
|Tower Paddle Boards Swimming|
with the Sharks!
O.K.- you know I just had to Google It this many months later and see if the Tower Paddle Boards still held 3 out of the top 4 rankings for that keyword, and I'm sorry to say they now only rank twice in the top 4. The two they do rank in though is 1st and 2nd that more than proves his Internet Marketing abilities.
Mark Cuban understands completely what these unique skills bring to the negotiating table and gives him a thumbs up. Kevin O'Leary makes another low ball offer for $150k but wants 50% of the paddle board business. Stephan clarifies he's not interested in working for O'Leary, he says "you can't hire guys like me." Kevin finally goes out making Mark Cuban Very Happy. He likes to invest in People, and he wants to invest in Stephan. Cuban offers him $150k for 30% of the business, but he also wants a "first right of refusal" on any future inventions Aarstol brings to market. "I'm a business builder," Cuban says, "I take small things and make them great things." Stephan Aarstol and Mark Cuban make a deal on the Shark Tank that did get successfully completed.
Tower Paddle Boards Shark Tank Update
This is one Shark Tank Success Story that's just getting started with an enormous amount of growth potential still yet to be explored. Does the Tower Paddle Board Company have what it takes to become one of the few Shark Tank Investments to reach 8 figures a year? At the rate they're growing this could happen in just a few more years.
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