Urban Float, a company specializing in float therapy in sensory deprivation tanks, made a memorable appearance on Shark Tank in their quest for investment. Founders Joe Beaudry and Scott Swerland presented their business and successfully secured a deal with shark Matt Higgins. Since their time on the show, Urban Float has experienced tremendous growth and expansion, with multiple locations across various states. Their net worth has soared, and they continue to thrive in the float therapy industry.
Key Takeaways:
- Urban Float’s appearance on Shark Tank helped boost their net worth
- They offer float therapy in sensory deprivation tanks
- Joe Beaudry and Scott Swerland negotiated a deal with shark Matt Higgins
- Urban Float has grown exponentially and expanded to multiple locations
- The company continues to excel in the float therapy industry
The Benefits of Float Therapy and Urban Float’s Success
Float therapy, also known as sensory deprivation floatation therapy, offers numerous benefits including relief from aches and pain, improved sleep quality, stress reduction, mental clarity, and relaxation.
Urban Float, a company specializing in float therapy, has thrived in the industry by providing comfortable and pleasant float spas infused with Epsom salts. Their serene and inviting environment has attracted a wide audience, contributing to the growth and success of the business.
Urban Float’s appearance on Shark Tank, a popular investment reality show, provided international exposure and helped make float therapy more accessible to a broader audience. The increased visibility and recognition further propelled Urban Float’s success, leading to expansion and the establishment of multiple locations across different states.
The Benefits of Float Therapy
| Benefits | Description |
|---|---|
| Relief from aches and pain | Float therapy helps alleviate muscle soreness, joint pain, and chronic conditions such as arthritis. |
| Improved sleep quality | The deep relaxation experienced during float therapy promotes better sleep patterns, helping individuals achieve a more restful and rejuvenating sleep. |
| Stress reduction | The sensory deprivation and weightlessness in the floatation tank create a calming environment, reducing stress levels and inducing a state of relaxation. |
| Mental clarity | Float therapy allows for mental clarity and enhanced focus by eliminating distractions and providing a space for deep introspection. |
| Relaxation | The weightlessness and sensory isolation experienced in the floatation tank promote deep relaxation, relieving tension and promoting overall well-being. |
Urban Float’s success can be attributed to their dedication to providing a top-notch float therapy experience. By focusing on creating a serene and inviting environment, combined with the benefits of float therapy, they have attracted a loyal customer base and expanded their reach in the industry.
As more people recognize the advantages of float therapy in improving physical and mental well-being, Urban Float continues to thrive. Their appearance on Shark Tank has undoubtedly played a significant role in their success, providing them with the exposure needed to reach a broader audience. With the growing demand for relaxation therapy and an estimated net worth of $5 million, Urban Float’s future looks promising as they aim to expand further and offer franchise opportunities to entrepreneurs interested in entering the float therapy industry.
Urban Float’s Journey on Shark Tank
When Joe and Scott stepped into the Shark Tank, they had one goal in mind: securing a significant investment for Urban Float. With their impressive sales figures and a compelling pitch, they caught the attention of the sharks. Armed with their financials and armed with their knowledge of the float therapy industry, they engaged in a negotiation that would shape the future of their business.
The Pitch
Joe and Scott confidently presented their case, seeking a $500,000 investment for a 5% equity stake in Urban Float. They highlighted the previous year’s sales of $1.1 million, showcasing the potential for growth in the float therapy market. The sharks were impressed by the benefits of float therapy and the increasing demand for relaxation and self-care experiences.
Negotiating with the Sharks
The sharks were not only interested in the financials but also raised concerns about debt and competition in the industry. Joe and Scott showed their resilience and knowledge by addressing these concerns head-on. After a series of negotiations, they ultimately struck a deal with shark Mark Higgins. The final agreement was $500,000 for a 12.5% equity stake in Urban Float, giving the company the capital it needed to fuel its expansion plans.
| Shark | Investment | Equity Stake |
|---|---|---|
| Mark Higgins | $500,000 | 12.5% |
Securing the investment from Mark Higgins was a game-changer for Urban Float. It enabled them to accelerate their growth plans and establish a stronger position in the float therapy industry. With the financial support and guidance from Mark, Joe, Scott, and their team were poised to take Urban Float to new heights.
Urban Float’s Growth and Future Plans
Since their appearance on Shark Tank, Urban Float has experienced remarkable growth and success in the float therapy industry. The company’s commitment to providing exceptional experiences in their float spas has allowed them to expand their presence to multiple locations across Washington, Ohio, Texas, and Delaware. Their dedication to quality and customer satisfaction has contributed to their net worth, which currently stands at an impressive $5 million.
Despite the challenges posed by the COVID-19 pandemic, Urban Float has persevered and remains in business, generating revenue and attracting a loyal customer base. Looking ahead, the company has ambitious plans for further expansion and is actively exploring franchise opportunities. Their goal is to make the benefits of float therapy accessible to even more people, ensuring that relaxation and mental well-being are readily available to individuals across the country.
In their pursuit of growth, Urban Float is continuously innovating and refining their offerings. They strive to create a franchise model that not only maintains the high standards of their existing locations but also empowers entrepreneurs to succeed in the float therapy industry. By leveraging the success of their appearance on Shark Tank and their solid net worth, Urban Float is well-positioned for continued success and expansion.
FAQ
What is float therapy?
Float therapy, also known as sensory deprivation floatation therapy, involves floating in a sensory isolation tank filled with Epsom salts. It offers benefits such as pain relief, improved sleep quality, stress reduction, mental clarity, and relaxation.
How has Urban Float capitalized on the popularity of float therapy?
Urban Float has created comfortable and pleasant float spas infused with Epsom salts. Their serene and inviting environment has attracted a wide audience, leading to the growth and success of the business.
What was Urban Float’s deal on Shark Tank?
Joe and Scott sought a $500,000 investment for a 5% stake in Urban Float. They negotiated a deal with shark Mark Higgins for $500,000, giving him a 12.5% equity stake in the company.
Where does Urban Float currently operate?
Urban Float currently operates in multiple locations across Washington, Ohio, Texas, and Delaware.
What are Urban Float’s future plans?
Urban Float is actively seeking franchise opportunities and plans for further expansion.