What Happened to Sproing Fitness after Shark Tank? Sproing Fitness Shark Tank Update

What is Sproing Fitness?

Sproing Fitness is a company that specializes in creating treadmills with innovative features that make exercise easier on the body while still providing a challenging workout.

Their products include low-impact air cushions and bungee-cord-like connectors that allow for a more natural running motion. The company was founded by Paul Toback and Steve Lenz, both experienced fitness professionals with backgrounds in engineering and leadership positions in the fitness industry. They currently co-own Sproing Fitness together.

Who is the founder of Sproing Fitness?

Paul Toback and Steve Lenz, the founders of Sproing Fitness, set out to revolutionize the treadmill experience for people who often suffer from back and knee pain.

Utilizing their technical and fitness expertise, they aimed to improve the design of treadmills which had gone unchanged for 60 years.

Instead of selling treadmills, they created fitness studios that incorporate their own equipment and training methods, specifically treadmill-based high-intensity interval training.

Additionally, they incorporate free weights and other gym equipment to make the workout experience more varied and engaging.

With an average 45-minute class, individuals can burn up to 1000 calories. Sproing Fitness currently operates five facilities across Maryland, Chicago, Houston and Hollywood.

What Happened to Sproing Fitness at Shark Tank pitch?

Paul Toback and Steve Lenz, the founders of Sproing Fitness, appeared on Shark Tank episode 1008 in hopes of finding an investor for their fitness studio concept.

They were seeking $500,000 in exchange for an 8% stake in their company, which was valued at $6.3 million. They invited the Sharks to try out their product and received mixed reactions.

While some Sharks felt the product had potential, others were hesitant due to the high cost and the fact that they did not believe it was a long-term investment. Ultimately, none of the Sharks made a deal with Sproing Fitness.

What Happened to Sproing Fitness after Shark Tank?

The company’s pitch for a deal may have fallen through, but as of June 2021, it still has five studios under its name and is making progress in selling to other fitness businesses.

In 2020, their sales took a hit due to the pandemic-related closures of companies, but as of February 2022, the company is still active and has an annual revenue of $12 million.

Competitors of Sproing Fitness

The company that are similar to Sproing Fitness are; The Renaissance Club, Bedell Corp, Tennis Corporation of America and Tca Holdings, L.L.C.

Net Worth of Sproing Fitness

The company valuation was $6.3 million during and after the pitch. Since then the company has an estimate net worth of $30 million.

Sproing Fitness FAQs

What is Sproing Fitness?

Sproing Fitness is a fitness studio that provides the highest-quality workouts to help its clients improve their health and fitness. The company was started by two experienced fitness instructors; it is not a treadmill company.

Who is the founder?

Paul Toback and Steve Lenz are the founders of Sproing Fitness.

How much were they seeking on Shark Tank?

They were seeking for $500,000 for 8% stake of their company.

Did they have the deal?

No, none of the Sharks made a deal with them.

Is Sproing Fitness still in business?

The company is still in business as of February 2022 with annual revenue of $12 million.

What kind of business was Sproing Fitness?

It is a fitness studio that provides the highest-quality workouts to help its clients improve their health and fitness.

What is the net worth of Sproing Fitness?

The net worth of the company is $30 million.

Where is Sproing Fitness established?

Sproing Fitness is based in Maryland, US.

What are the products made by Sproing Fitness?

The products manufactured by Sproing Fitness include treadmills and other fitness equipment that aim to improve the quality of your workout by reducing the impact on your knees and back. On their official site, they also explain their equipment and training techniques.

What is the company’s current location?

Sproing Fitness has five locations: one in Hollywood, California; one in Chicago, Illinois; one in Houston, Texas; one in Annapolis, Maryland; and the other is located at Rio Rancho, New Mexico.

What is Sproing Fitness’ mission?

The company’s mission is to provide a high-quality cardio workout to help their clients improve their health and fitness.

How did Sproing Fitness come up with their idea?

Sproing Fitness took inspiration from an idea that Paul Toback and Steve Lenz had for a unique training system in which resistance could be applied to the user’s body without causing damage to the joint like traditional treadmills.

What is the cost of Sproing Fitness?

The cost of Sproing Fitness’ services ranges from $64.99 to $79.99 per class.

What are the services of Sproing Fitness?

Sproing Fitness offers classes during which clients completely forget about their worries and simply focus on themselves and the workout.

How long will Sproing Fitness classes take?

The classes offered by Sproing Fitness last 45 minutes to an hour.

Is Sproing Fitness good to use?

For starters, the studio is eco-friendly and does not use toxic chemicals. In its classes, it uses a special treadmill not made for traditional treadmills.

How do I pay for Sproing Fitness?

The cost of Sproing Fitness’ classes can be paid by cash or credit and debit cards. For those who prefer paying cash to avoid the hefty fees of monthly membership, it is also possible to pay for the services ahead of time.

How can I contact Sproing Fitness?

Sproing Fitness’ email address is info@sproingfitness.com; customers may also contact Sproing Fitness through their Facebook page at @sproingfitness or website at www.sprongfitness.com.

What is Sproing Fitness targeted age?

Sproing Fitness is aimed at all ages. Some of their clients are currently between the ages of 18 and 80 but there are some who are even older.

Who is the CEO?

Paul Toback is the CEO of Sproing Fitness.

What is the net worth of Paul Toback?

The net worth of Paul Toback is not revealed.

What is the net worth of Steve Lenz?

The net worth of Steve Lenz is not revealed.