What Happened to Tower Paddle Boards After Shark Tank?
What is Tower Paddle Boards?
Tower Paddle Boards is a company that provides direct-to-consumer paddleboards, such as their 6′′ inflatable board, which is both innovative in the sport and well-liked by enthusiasts due to its high quality and affordable pricing.
The company provides inflatable and traditional paddleboards, as well as a number of accessory items that may be utilized with them.
Tower Paddle Boards was created by Stephan Aarstol. Stephan is a seasoned online marketer who founded this company after seeing a pattern in Internet searches.
Stephen has previously had success with search engine optimization and saw a relationship between paddleboard searches and a lack of great internet venues to buy them.
Who is the founder of Tower Paddle Boards?
Stephan Aarstol founded Tower Paddle Boards in 2010. Stephen is a seasoned internet marketing entrepreneur who established this company after seeing a trend in Internet searches.
His ambition has always been to launch game-changing new businesses, and he earned an MBA in New Venture Management from the University of San Diego.
Tower Paddle Boards was founded by him from the bottom up, and it has grown to become one of America’s fastest growing sports product companies. In the early 2000s, he made a nice livelihood selling premium poker chips online.
He used his knowledge of search engine optimization to drive a lot of traffic to his poker chip website and earn sales. Stephan recognized a growing trend in stand-up paddle board searches and imitated the online sales technique, resulting in the establishment of Tower Paddle Boards.
Aarstol uses organic search traffic to drive people to his website, and the sport’s growing popularity is increasing his sales.
Tower Paddle Boards are 50% less expensive than equivalent stand up paddle boards since he sells directly to consumers and avoids the retail chain.
What Happened to Tower Paddle Boards at Shark Tank pitch?
Stephan opted to present his company to Sharks in episode 9 of Season 3 of Tower Paddle Boards on Shark Tank to help him with product marketing and distribution.
Stephan came to Shark Tank seeking for $150,000 in return for a 10% stake in his firm, worth $1.5 million.
Aarstol stammered through his explanation of his business, blaming it on a broken slide show clicker and a natural aversion to presenting scheduled presentations.
He astounded the Sharks with his sales figures after recovering his calm; he made over $100,000 in just a few months.
His client acquisition techniques pique the Sharks’ attention; Aarstol outlines search engine marketing to the Sharks’ pleasure. Mr. Wonderful is particularly fond of Aarstol’s “zero cost” search engine method.
Barbara becomes frustrated by all of the technical jargon and exits.
Robert enjoys stand up paddle boarding (he confesses), but he feels the firm is expensive; he also exits.
Robert enjoys stand up paddle boarding (he confesses), but he feels the firm is expensive; he also exits.
Mark and Mr. Wonderful were the final Sharks to enter, followed by Daymond.
Kevin was offering $150,000 in return for 50% ownership of the firm and a 10% royalty on any products he develops.
Stephan declines that offer, and Mark counters with a $150,000 offer in exchange for 30% equity in the firm and first refusal on Stephan’s next project.
Kevin replies with a $150,000 offer for 25% stock, but Aarstol decides Mark would be a superior partner; they shake hands with Mark and leave the pitch with a deal.
What Happened to Tower Paddle Boards After Shark Tank?
The deal with Mark Cuban was finalized after the show aired, and Stephen left the pitch with a deal. Mark Cuban thinks that Tower Paddle Boards is one of the best investments he’s made on Shark Tank.
“Tower is the Dell of stand-up paddle boarding,” Mark Cuban says. Aarstol reimbursed one-third of the $150,000 in just a few months, and Mark could shortly receive his whole investment back.
Tower Paddle Boards appeared in Season 4 Episode 403 as part of an update section. Tower Paddle Boards’ revenues are increasing, and the firm is doing well. For further details, the firm is referenced in an update segment in Beyond the Tank episode 111.
Tower Sunglasses were first introduced in the summer of 2016. It is the first new product for the firm. The ultimate objective is for the Tower brand to evolve into a full-fledged “beach lifestyle brand.” Sunglasses are only the start.
They want to add an expanded clothes line, beach chairs, snorkels, and other beach-related items at Tower’s reduced prices.
Stephan Aarstol, the company’s creator, hopes to make Tower a one-stop shop for beach items and to earn $100 million in revenue.
In July 2021, they expanded the line to include skateboards, clothing, beach tents, swimwear, and other products. The company’s yearly revenue is $7 million as of January 2022.
Tower Paddle Boards’ Competitors
Tower Paddle Boards’ main competitors are C4 Waterman, ISLE Surf & SUP, SOL Paddle Boards, SUP ATX, Surf School, Tower, and YOLO BOARD, among others.
Tower Paddle Boards’ Net Worth
During the pitch, the firm was valued at $1.5 million; following Mark Cuban’s investment, the company was valued at $500,000. Since then, the firm has done well in sales, having an annual revenue of $7 million as of January 2022. This signifies that the company’s net worth might have been more than that of pitch.
Tower Paddle Boards FAQs
Who invented the Tower Paddle Boards?
Stephan Aarstol, the company’s founder, invented Tower Paddle Boards. He was inspired to invent the board by watching his son paddle into the bay in San Diego and by surfing.
What does Tower Paddle Boards do?
Tower Paddle Boards are stand up paddle boards. They are made of a thick foam material, a durable “sandpaper” finish, and a concave lip.
How is Tower Paddle Boards different from C4 Waterman in terms of design?
Tower Paddle Boards has a sturdier material than C4 Waterman, but they are both comparable as both companies’ boards are made of cedar and poplar wood.
What is Tower’s main product?
The main product of Tower Paddle Boards is a stand up paddle board.
What does the company sell?
The company sells stand up paddle boards, sunglasses, helmets, and apparel.
Who are the target customers of Tower Paddle Boards?
The target customers of Tower Paddle Boards are outdoor enthusiasts and beachgoers.
What are the main competitors of Tower Paddle Boards?
The main competitors of Tower Paddle Boards are C4 Waterman, ISLE Surf & SUP, SOL Paddle Boards, SUP ATX, Surf School, SkyWater, and YOLO BOARD.
What is Tower Paddle Boards return policy?
Tower Paddle Boards return policy is 30-day return policy. The company will give customers a full refund in case the products are not as they expected.
What is Tower Paddle Boards warranty?
Tower Paddle Boards warranties their product for 12 months.
How much does Tower Paddle Boards cost?
Tower Paddle Board’s cost ranges from $329 to $495 depending on the model of the board and size.
How do I make payment to Tower Paddle Boards?
Customers can pay Tower Paddle Boards through credit card, debit card, or PayPal.
What is Tower Paddle Boards shipping policy?
Tower Paddle Boards does not charge for shipping on orders.
Where can Tower Paddle Boards are purchased?
Tower Paddle Boards can be purchased through their website as well as at sport and beach stores.
