Surf Band Pro Shark Tank Net Worth 2023
What Is The Net Worth Of Surf Band Pro?
Surf Band Pro is estimated to be worth $1.5 million as at March 2023. This is based on Greg’s valuation when he entered the Shark Tank, seeking for $150,000 for a 10% equity.
About Surf Band Pro
Greg Demersian, a surfer from New York City who invented Surf Band Pro, a wristband that dispenses sunscreen at the push of a button. Greg is seeking $150,000 for a 10% equity stake in his company.
He explains that he invented the product to solve the challenge of carrying sunscreen while surfing or participating in other action sports.
He demonstrates how the product works and talks about the challenge of designing the valve that allows the sunscreen to be dispensed without leaking.
The Sharks express concerns about the competitive sunscreen market and the low sales so far, but Greg emphasizes that the product has applications beyond surfing.
Surf Band Pro is the ideal protective solution for various sports, such as surfing, kitesurfing, kayaking, windsurfing, parasailing, wakeboarding, sailing, water skiing, fishing, climbing, biking, hiking, running, snowboarding, golfing, and more.
How Does Surf Band Pro Work?
Surfing is not just a hobby for Greg Demersian, it’s a way of life. Growing up in New York City, Greg has been surfing since he was a child, but like many surfers, he faced challenges out on the water – sharks, drowning, and sunburn.
The last one was particularly frustrating for him. He would apply sunscreen before paddling out, but after a few waves, the sunscreen would wear off, leaving him with a nasty burn.
Greg realized that this was a common problem among surfers and other action sports enthusiasts. They would wear tight-fitting action wear with no pockets to carry sunscreen. This realization led him to invent Surf Band Pro, a solution to this ongoing challenge for many people.
Surf Band Pro is a wristband that dispenses sunscreen with just the push of a button. Greg demonstrated how it works in a YouTube video where he introduced himself, his product, and his need for $150,000 for a 10% equity stake in his company.
The patented valve on the Surf Band Pro was the most challenging aspect of the design. The valve allowed the solution out in the middle but also let air in when the user pushed down on the pump. Greg’s persistence and innovative thinking led him to the solution – an annular seal, the same mechanism that keeps a pen wet inside.
Greg invested around $150,000 in his business, which started manufacturing the product just a month ago. Although he has only sold a few hundred units so far, he is hopeful that his product will take off. His dream is to work with one of the investors on his favorite show, Shark Tank, which he was thrilled to be on.
During his appearance on Shark Tank, shark investors were skeptical of the product’s potential, given the competitive sunscreen market.
Surf Band Pro Shark Tank Pitch
Greg Demersian from New York City is seeking $150,000 for a 10% equity stake in his company Surf Band Pro. His product aims to solve the problem of sunburn for surfers and other action sports enthusiasts who wear tight-fitting clothing without pockets for sunscreen.
Surf Band Pro is a wristband that dispenses sunscreen with a push of a button. The product has a patented valve that allows for the solution to come out and let air in without leaking.
The patent on the product includes a valve that allows solution out but prevents air from getting in. The invention was inspired by the design of a pen and took 15-17 different industrial designers to perfect. The product sells for $19.95 online and is just beginning production.
So far, only a couple hundred have been sold, but Greg hopes that Shark Tank will help him take his business to the next level.
Demersian invested $150,000 in his business and has sold about 200 units at a wholesale price of $9.95 and an online price of $19.95. The sharks are skeptical about the product’s potential due to competition in the sun protection market.
However, Demersian sees the product as a reminder and a convenient solution for anyone going to the beach or water park.
The Sharks question the market for the product, but Greg believes it can be used not just by surfers, but by anyone who goes to the beach or water park.
Although the product was unique, none of the sharks thought it was a good fit for their investment portfolio, and Surf Band Pro did not get funding.
What Happened To Surf Band Pro After Shark Tank
During his appearance on Shark Tank, some investors were skeptical of the product’s potential, given the competitive sunscreen market. Still, Greg remains confident that his Surf Band Pro will be a game-changer, not just for surfers but for anyone who wants instant access to sunscreen anywhere, anytime.
Greg’s innovative thinking, persistence, and love for surfing have led him to create a product that solves a common problem.
With time, his Surf Band Pro may become a staple for action sports enthusiasts and beachgoers alike, providing them with a convenient way to protect themselves from the sun’s harmful rays.
Overall, Surf Band Pro is a unique and innovative product that allows surfers to carry sunscreen lotion in a convenient way. Although it did not receive funding in the Shark Tank, the product has generated revenue since its launch, and the company is still in business as of march 2023.
FAQS
What is Surf Band Pro?
Surf Band Pro is a unique product created by the WearSpray team, which allows surfers to carry sunscreen lotion in a velcro band. The product was patented, and Greg had to face many difficulties to bring it to market.
He talked to 15-17 industrial designers before finally creating the product himself, inspired by a pen. The wholesale cost of the product is $9.95, and it retails for $19.99.
Who founded Surf Band Pro?
Greg Demirjian is the Founder and CEO of Surf Band Pro, which is a subdirectory of his company, WearSpray. Before starting WearSpray in 2020, Greg studied photography at Skidmore College and worked for several companies, including Hampton Jitney Magazine and Iron Fire Productions.
What happened in the Shark Tank pitch of Surf Band Pro?
When Greg entered the Shark Tank, he asked for $150k for 10% equity. He gave a great presentation about his product, and the sharks were surprised to see it. Although the product was unique, none of the sharks thought it was a good fit for their investment portfolio, and Surf Band Pro did not get funding.
What is the net worth of Surf Band Pro?
Surf Band Pro is estimated to be worth $1.5 million as at March 2023. This is based on Greg’s valuation when he entered the Shark Tank, seeking for $150k for 10% equity.
