Surfset Fitness Shark Tank Net Worth 2023
Hartwick and Ponn, the founders of Surfset Fitness, appeared on Shark Tank in season 4, episode 2, seeking an investment of $150,000 for a 10% stake in their company.
This meant that the valuation of Surfset Fitness was $1.5 million. The two entrepreneurs presented their unique and innovative fitness equipment that simulated the experience of surfing on land.
Their product was designed to provide an effective full-body workout that combined the benefits of cardio and strength training.
After a successful demonstration of their product, the Sharks showed interest in Surfset Fitness. Mark, in particular, made an offer of $300,000 for a 30% stake in the company, which brought the valuation down to $1 million. The founders accepted Mark’s offer, and he became a partner in the company.
With Mark’s investment, Surfset Fitness was able to expand its reach and introduce its products to a wider audience.
The company’s unique and effective workout equipment gained popularity, and it was soon featured in many fitness studios across the country.
Today, Surfset Fitness continues to be a successful business, providing a fun and effective workout experience to fitness enthusiasts worldwide.
What was Surfset Fitness? Who are the Founders of Surfset Fitness?
SurfSet Fitness is a company that caters to fitness enthusiasts by selling the RipSurferX (RSX), gym equipment that resembles a water surfboard but is used for balance and core training rather than in water.
The company also offers a fitness curriculum for those interested in becoming fitness instructors worldwide.
Mike Hartwick and Sarah Poon founded SurfSet Fitness, with Mike being a former professional hockey player and fitness enthusiast, while Sarah was a nutritionist and fitness instructor.
Although they separated after establishing the company, Mike remained the CEO of SurfSet Fitness, while Sarah took on the role of Vice President of Marketing at Hypewear in 2018.
Mike, who wanted to spice up his workout routine, would go surfing during his hockey league’s break to break the monotony of traditional training.
He then approached Sarah, his co-founder at SurfSet Fitness, with the idea of using surfing as a form of conditioning for group fitness sessions, alongside selling the RipSurferX.
Surfset Fitness Shark Tank Pitch
Hartwick and Ponn made an appearance on season 4, episode 2 of Shark Tank in hopes of securing $150,000 in exchange for a 10% stake in Surfset Fitness, which valued the company at $1.5 million.
They brought along professional surfer Lakey Peterson to demonstrate exercises on the RipSurferX board, which has a weight limit of 450 pounds.
Prior to filming, the couple had made $150,000 from running surfing workout sessions over a four-month period. The cost of producing one RipSurferX board is $150, with a retail price of $400.
Daymond John suggested that the production cost be lowered to $100, but Hartwick didn’t see that as an issue. The couple claimed that over 200 people had expressed interest in franchising the program.
Surfset Fitness planned to launch a state-wide certification campaign to train qualified teachers in every major city, and Mark Cuban offered $300,000 for a 33% stake in the company.
Robert also made an offer of $100,000 for a 20% discount, while Daymond offered $150,000 for a 25% stake and an unlimited production arrangement for the RipSurferX boards. Kevin expressed his interest in joining Daymond in the deal, but Barbara sided with Mark.
Ponn and Hartwick used the “24-second shot clock” to make a decision and eventually settled on Mark’s offer after he reduced his stake to 30%.
Following the show, Surfset embarked on a 24-city tour to certify trainers and promote the RipSurferX to fitness enthusiasts worldwide, partnering with major brands like UnderArmour, Garnier Fructis, and Qboda Mexican Grill.
As of the end of 2012, Surfset Fitness had certified trainers in 29 locations, and the company still sells RipSurferX boards for $675 and offers lessons in 35 countries.
However, one of the founders, Mike Hartwick, departed from the organization in February 2021, and as of July 2021, Hyperwear, a company that produces unconventional training equipment, appeared to be out of business.
In March 2018, Sarah Ponn was appointed as Surfset Fitness’s new Vice President of Marketing.
What was the Net Worth of Surfset Fitness?
Hartwick and Ponn appeared on Shark Tank season 4 episode 2 in search of $150,000 for a 10% stake in Surfset Fitness. This translates to a $1.5 million valuation.
They accepted an offer from Mark of $300,000 for a 30% stake which brings the valuation to $1 million.
Who are the Competitors of Surfset Fitness?
There are no competitors identified for Surfset Fitness.
Surfset Fitness Shark Tank Updates
Surfset Fitness appeared on Shark Tank Season 4, Episode 2, seeking an investment of $150,000 for a 10% stake in their company.
The founders, Mike Hartwick and Sarah Ponn created the world’s first total-body training equipment designed to mimic the instability of a surfboard on the water. They made a deal with Mark Cuban, who invested $300,000 for a 30% stake in the company.
After the show’s original air date on September 21, 2012, Surfset Fitness went on a 24-city nationwide tour to certify trainers and introduce the RipSurferX to fitness enthusiasts across the country.
The company partnered with major corporations, including UnderArmour, Garnier Fructis, and Qdoba Mexican Grill.
As of November 2022, the company has 350 licensed SURFSET locations in more than 32 countries, and its annual revenue is $8 million.
Sarah Ponn’s LinkedIn page says she is still involved with the company as of November 2022. However, their website is no longer active. The company has expanded its reach and introduced its products to a wider audience with Mark’s investment.
The company’s unique and effective workout equipment gained popularity and was soon featured in many fitness studios across the country.
Surfset Fitness Shark Tank Net Worth 2023.
|Mike Hartwick and Sarah Poon
|The RipSurferX is a gym equipment that resembles a water surfboard but is used for balance and core training rather than in water.
|Seeking $150,000 for a 10% stake
|Deal made with
|$300,000 for a 30% stake, valuing the company at $1 million
|As of February 2021, Mike Hartwick had departed from the company, and as of July 2021, Hyperwear appears to be out of business.
Surfset Fitness FAQS
What Is Surfset Fitness And How Does It Work?
Surfset Fitness is a full-body workout that uses a stationary surfboard to replicate the muscle-toning, calorie-burning workout of a real surf session without the water. The workout engages all the muscles in the body and is not static, which strengthens the core, an important factor in overall fitness.
Surfset Fitness provides the necessary tools to carve the perfect surfer’s body by integrating balance, core strength, cardio, flexibility, agility, and power, while torching unwanted body fat in high-intensity intervals, all in the comfort of a studio.
The Surfset Fitness trainers focus on athletic movements that incorporate all the major muscle groups and on those tiny stabilizer muscles that give the body shape and definition.
The workout is structured for optimal fat burn, muscle build, and improved balance, with 45 minutes of surf-inspired movements structured in intervals to shock the body systems and create real change.
There are four signature Surfset Fitness programs to deliver maximum results for all fitness levels: Surfset Balance, Burn, Build, and Blend, each structured in custom intervals to create real change.
Surfset Fitness is for anyone who wants to break out of their traditional workout routine and shake things up to start seeing real results. It is also a great way for surfers and snowboarders looking to stay conditioned all year round.
The workout is fun and challenging, and it draws from the real movements of surfing to build stability, strength, power, and body awareness.
The instability of the Surfset board adds an extra challenge to every exercise, and as one progresses in their practice, the board can be adjusted to add additional instability and build body awareness in an ever-changing environment.
Who founded Surfset Fitness?
Mike Hartwick and Sarah Poon are the founders of Surfset Fitness Company.
What Was The Outcome Of The Surfset Fitness Shark Tank Pitch?
Surfset Fitness made a deal with Mark Cuban on Shark Tank Season 4, where they asked for $150,000 for 7% equity and received $300,000 for 30% equity.
The company has since partnered with major corporations including UnderArmour, Garnier Fructis, and Qdoba Mexican Grill. Although Mike Hartwick left the company in 2021, Surfset Fitness continues to thrive, with Surfset-certified trainers and classes in more than 30 cities.
What Happened To Surfset Fitness After Its Appearance At The Shark Tank?
After appearing on Shark Tank, Surfset Fitness went around to 24 different cities nationwide in order to hire and certify different instructors for their future classes.
They also managed to seal incredible partnerships with major corporations including UnderArmour, Garnier Fructis, and Qdoba Mexican Grill. The company made a deal with Mark Cuban for $300,000 for 30% equity.
Although Mike Hartwick left the company in 2021, Surfset Fitness continues to thrive, with Surfset-certified trainers and classes in more than 30 cities.
However, according to some sources, Surfset Fitness went out of business in 2018 and the product is no longer available in the market. It is unclear what happened to the company after 2022, as there are no recent updates available.
How much were they seeking in the Shark Tank?
Hartwick and Poon were seeking $150,000 for a 10% stake in their company at the time of their pitch.
Did they get the deal from the Sharks?
Mark Cuban invested $300,000 for a 30% stake in the company.
Does Surfset Fitness have a website?
Their website is no longer active.
Is Surfset Fitness still in business?
No, Surfset Fitness has been discontinued.
Where was Surfset Fitness located?
Surfset Fitness was based in Manchester, New Hampshire.
When was Surfset Fitness aired on Shark Tank?
Surfset Fitness was featured in episode 2 of season 4 which first aired on September 21, 2012.
What is the Phone number of Surfset Fitness?
They are no longer in business.
Where can find Surfset Fitness online?
They are no longer available online.
Where are the founders now?
According to Mike Hartwick’s LinkedIn profile, he departed the organization in February 2021.
Sarah Ponn, co-founder of Surfset Fitness, was appointed as the firm’s new Vice President of Marketing in March 2018.
What is net worth of Mike Hartwick?
Mike Hartwick net worth is $900,000 as of 2022.
What is net worth of Sarah Ponn?
Sarah Ponn’s net worth is unavailable.