Tower Paddle Boards is not only an innovative standup paddle board but is also marketed effectively by cutting out the middleman and selling directly to customers. Tower Paddle Boards can therefore sell their boards at a lower price.
The boards themselves are originals and are made of extremely high quality. Tower Paddle Boards stands out from its many counterparts in the paddleboarding industry. Stephan Aarstol is the founder of Tower Paddle Boards.
He had been running various e-commerce businesses since the late 1990s and was already familiar with the internet world. He knew about search engines and how traffic is routed on the internet.
He enjoyed spending time on the beaches of San Diego and saw the sudden rise in paddle boarding there while on vacation.
Tower Paddle Boards was established by Aarstol in the same year, 2010. He was inspired to do so after observing the growing popularity of standup paddleboarding online and in real life.
Stephan Aarstol explains to the Sharks that Tower Paddle Boards are the next big thing in outdoor water entertainment and the future wave.
He made $100,000 in sales in just four months and can sell a 1,200-square-footboard for under half of its retail price. Internet or Affiliate Marketing is the tactic that he uses.
Tower Paddle Boards promote the health benefits of standup paddle boards heavily since one hour standing on a board is equal to eight hours of riding waves on a surfboard.
Tower Paddle Boards’ success is directly related to Stephen Aarstol’s ability to market online, and Mark Cuban recognizes this talent, while the other Sharks fail to capitalize on it. Mark Cuban is the only one of the Sharks to recognize that ability.
Stephan Aarstol is known for being an Internet Geek and having an MBA. He has no interest in working in the business world and instead puts his talents to use in standup paddle boards’ affiliate marketing and internet marketing.
He has trouble keeping his presentation on track and is having difficulty getting through it when he suddenly realizes he can promote the product online.
Investors pay attention to online sales. He must market at a lower cost. Robert requests that his assistant demonstrate the benefits of cardio exercises.
In the same way, Stephen looks at Search Engine Optimization strategies to find clients; I utilize Shark Tank in conjunction with SEO to reach this audience.
What Are Tower Paddle Boards?
Tower Paddle Boards is the world’s first standup paddle board company to sell directly to consumers. You get the same quality paddle board that retail stores charge $1,600 for a fraction of the price!
Tower sells paddle boards suitable for everyone, from beginners to professionals. The great thing about standup paddle boarding is that you can have fun and relax on the lake or beach.
The full-body training experience becomes fantastic when you add a little bit of intensity. Many people are ditching the gym and going to the ocean to get their exercise instead, thanks to paddle boarding.
Many people are taking up surfing after learning it in just 20 minutes. It has the appeal of surfing but is as simple as learning a language. Those not interested in participating can only do so because of the high costs associated with the board.
A standup paddleboard at traditional retail outlets ranges from $1,200 to $1,600 and may even be more expensive.
Is this your first time participating in a sporting activity? There’s no better standup paddle board than the Classic 10’6″ paddle board from Tower. It can accommodate riders up to 240 pounds with extreme stability.
Are you looking for something a little more extreme? Additionally, Tower offers carbon fiber paddle boards designed by one of the world’s most renowned SUP racing shapers.
You can purchase inflatable paddle boards from The Tower Company at unbelievable costs if you desire portability. The average cost of an inflatable paddle board ranges from $1,200 to $2,400 in stores.
For only $699, you can get Tower’s most popular inflatable board as part of the iSUP Package. The board is also popular with riders. It is small enough to put in a backpack when deflated but comparable to a hard board when inflated.
The use of inflatable paddle boards is replacing traditional paddle boards among customers. That says a lot about the quality of Tower’s paddle boards.
|Company Name||Tower Paddle Boards|
|Product / Business||Standup paddling boards|
|Investment Asking For||$150,000 For 10% equity in Tower Paddle Boards|
|Final Deal||$150,000 For 30% equity in Tower Paddle Boards|
|Episode||Season 3 Episode 9|
|Business Status||In Business|
Who Is The Founder Of Tower Paddle Boards?
Tower Paddle Boards was founded by Stephan Aarstol and established in 2010. Stephan is an experienced online marketer who started this company after noticing a trend in Internet searches and recognizing an opportunity.
He has long had a passion for entrepreneurship and creating game-changing businesses. 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 today is one of the fastest-growing sports product companies in the U.S. He made a nice living by selling high-end poker chips on the internet in the early 2000s.
He used his knowledge of search engine optimization to drive a large quantity of traffic to his poker chip website and increase his sales figures.
Tower Paddle Boards was established after Stephan recognized a growing trend in standup paddle board searches and imitated the online sales method. Organic search traffic drives users to Aarstol’s website, while the sport’s increasing popularity has helped the company’s sales volume.
Tower Paddle Boards are 50 percent less expensive than a similar standup paddle board manufactured by the same manufacturer because it sells directly to consumers rather than through a retail chain.
Tower Paddle Boards Before Shark Tank
Stephan Aarstol is a well-versed individual in the field of internet marketing. Early in the 2000s, Aastol effectively used his search engine expertise to direct large amounts of traffic to his website, which he developed.
Due to traffic redirection, he was capable of selling high-end poker chips on the website in question. His sales generated a significant amount of revenue. On the other hand, Stephan had noticed a pattern in the themes people were searching for previously.
By researching the topic, he discovered that standup paddle boards are becoming increasingly popular online. Therefore, he decided to join the trend. After researching paddle boarding and the boards themselves, he named his line of paddle boards Tower Paddle Boards.
He creates sales like how he generated sales with his poker chip company. Stephen uses his website to draw online traffic to his business, and because the sport is popular, he turns a profit rather quickly.
This is especially true now that he has eliminated the need for a third-party retailer and sells directly to his clients. Therefore, the price of his paddle boards is lower than many paddle boards sold in stores.
Although Stephan’s previous business experience and technological expertise gave him the confidence to work with an outsider in Tower Paddle Boards, he decided to bring in an outsider to work with him as a partner.
In turn, he took his business proposal to ABC’s Shark Tank in hopes of getting one of the Sharks to invest.
How Was The Shark Tank Pitch Of Tower Paddle Boards?
Stephan appeared on Shark Tank seeking an investment of $150,000 in exchange for a 10 percent stake in Tower Paddle Boards. There are a lot of places you can paddleboard, and it is an activity that doesn’t require much skill to learn.
Paddlers have the opportunity to experience surfing and enjoy the thrill of the waves without the risks and challenges associated with traditional surfboards.
Daymond helped Stephan get back on track after dealing with some technical issues that had left him rather frazzled. He asked Stephan about the functionality of the Tower Paddle Boards.
Stephan adds that Tower Paddle Boards is a retailer of paddles, boards, and accessories relevant to paddle sports. He maintains a direct relationship with his clientele and is responsible for the over $100,000 in revenue generated in the preceding four months.
The selling price of Tower Paddle Boards is $600 each, which is significantly lower than the average retail price of comparable boards, which ranges from $1,200 to $1,600.
Robert can attest to its benefits as someone who has participated in standup paddleboarding firsthand. It is a fun activity, but it is also very healthy.
Aarstol verified that one hour spent on a paddleboard is similar to eight hours spent surfboarding in terms of the amount of exercise achieved.
The key to Aarstol’s success has been his knowledge of digital marketing, which he achieved through search engine optimization and his twelve years of experience in successfully running advertising campaigns over the internet.
It did not cost him any money in marketing charges because he could manipulate the promotion himself; this worked out for him. Aarstol can bring Tower Paddle Boards inside the first few results for Google search keywords such as “the best paddle boards,” thanks to his talents in redirection and SEO.
Kevin acknowledges that rather than joining Aarstol’s company, it would be simpler to sell his brand of paddle boards to a third party and have someone else do all the work for his business.
Barbara steps in to end the heated exchange between Aarstol and the Sharks after Aarstol and several team members have a critical conversation.
She concluded that technical wizards such as Aarstol spoke in their language, which was difficult for the common person to comprehend, and that most of the time, they would walk away with her investment money.
She claims she will not invest in Tower Paddle Boards since she is unfamiliar with the industry and has had negative experiences. Robert mentioned that he does take pleasure in the activity of paddleboarding and that he believes Tower Paddle Boards to be a product of superior quality.
His worry is with Stephan’s estimation of the company’s value, which comes in at $1.5 million. He is out.
In response, Aarstol provides a detailed and intricate comparison that has something to do with water bicycles, Facebook, and cars; however, it is unclear to the Sharks what the point of the connection is supposed to be.
John stated that he did not find anything in Tower Paddle Boards that distinguished it from the wide range of similar products already available on the market. Because he believes Aarstol is exaggerating the value of the business, he has decided to step down as well.
Kevin, the lone Shark, still standing, reveals to Aarstol that although he does not know what the objectives of Tower Paddle Boards are, he likes Aarstol as a person and believes that he has the motivation, abilities, and expertise necessary to make the firm a success.
Kevin presents an offer to Aarstol that incorporates the sum of $150,000 requested in exchange for a ten percent cash royalty on each board until he recoups the money he invested in the company.
He offers to assist Aarstol in developing additional business concepts and providing financing if required. Aarstol said he does not desire to collaborate with anyone else.
Kevin decides for him by retracting his offer and pulling out of the contract when he thinks about the business transaction, and the other Sharks are encouraging him to decide.
Mark re-enters the conflict and makes Aarstol an offer: in exchange for thirty percent of the company and one hundred fifty thousand dollars, Mark will give Aarstol the first right of refusal on any of Aarstol’s business ideas.
Kevin returns to the table and proposes a deal in which he will only give away 25 percent of the company in exchange for the $150,000 investment.
However, it was too late for Kevin to make a change because Aarstol was won over by Mark’s demeanor and enthusiasm and accepted his offer. Aarstol considers Mark an ideal partner; they shake hands and complete the deal.
Final Deal: Mark Cuban agreed to invest $150,000 for 30% equity in Tower Paddle Boards.
What Happened To Tower Paddle Boards After Shark Tank?
Mark and Stephan finalized their agreement and moved ahead following the show’s broadcast. Cuban concluded that investing in Tower Paddle Boards was one of the most successful decisions he ever made because it took only a few months for him to recoup a significant amount of the money he invested.
Despite today’s market, Tower Paddle Boards remain extremely popular and have been on the fast track to success for years. The company has been highlighted in People Magazine and the Inc. 5000 and is considered one of the greatest products of 2015.
As of 2022, Tower Paddle Boards experienced a three-year growth rate of more than 1850 percent, making it the fastest-growing private firm in San Diego.
Their secondary businesses include Sunglasses by Tower, Tower Magazine, and the soon-to-be-released “Tower Made” brand, which will supply various beach-related products such as snorkels and clothes, among other things.
You can learn more about paddleboarding or Tower Paddle Board products by visiting their website at http://www.towerpaddleboards.com/. Paddleboarding has become increasingly popular in recent years.
All of their numerous items and the various locations where they have been featured are available for purchase on their official website.
Tower Paddle Boards Shark Tank Update
The founder of Tower Paddle Boards, Stephan Aarstol, appeared on an episode of Shark Tank in 2012 to present his company and ultimately struck a deal with the investor Mark Cuban.
Over the years, Tower Paddle Boards has generated more than $17 million in sales. The company’s growth rate is remarkable; over the past four years, annual revenues have increased by more than two thousand five hundred percent.
It shouldn’t surprise that Mark Cuban considers Tower Paddle Boards one of his most successful investments from Shark Tank. Aarstol acknowledged that he made an idiot of himself in what has been described as a disastrous pitch.
On the other hand, the partnership with Cuban catapulted revenues from $35,000 to nearly $34 million. When Cuban says of Tower Paddle Boards, “One of my best Shark Tank investments,” you know that he was onto something amazing and was right about it.
A year after Cuban made his statement, Tower Paddle Boards was recognized as the San Diego area’s fastest-growing firm, earning the number one spot.
Aarstol developed the concept of the five-hour workday, which he eventually implemented for all employees working for Tower Paddle Boards. This phenomenon reached more than 10 million people in the years that followed.
Tower Paddle Boards also sells inflatable paddleboards at great costs for those that require portability in their paddle boards. Most inflatable paddle boards sold in stores cost more than $1,200 each.
The iSUP Package, which includes Tower’s most popular inflatable board, can be purchased for $699. It is just as popular with riders. Tower Paddle Boards take up little space in a bag when deflated, but it has the same rigidity as a hardboard when inflated.
It is more common for customers to purchase inflatable paddle boards instead of regular paddle boards. Undoubtedly, you will be impressed by the quality of the paddle boards offered by Tower.
As of 2022, Tower Paddle Boards have expanded its product line to include skateboards, clothes, beach tents, swimwear, and other items. Tower Paddle Boards company generates $7 million in revenue every year.
Is Tower Paddle Boards Still In Business?
Tower Paddle Boards is still in business as of 2022, with annual revenue of $7 million. Mark said that Aarstol’s Tower Paddle Boards transaction was the best he had ever done on Shark Tank.
He recovered his investment within only a few months. Tower Paddle Boards have grown in popularity and remain quite popular with customers.
People Magazine featured the Tower Paddle Boards, and Inc. 500 named it one of the top products of 2015. In 2016, Tower Paddle Boards saw an unprecedented 1850 percent growth over three years, making it one of San Diego’s fastest-growing private companies.
The success of Tower Paddle Boards led to the establishment of several subsidiary businesses, including Sunglasses by Tower, Tower Magazine, and the Tower Made Company, which sells beach-related products, such as snorkels and other apparel, in addition to Tower Paddle Boards.
What Is the Net Worth of Tower Paddle Boards?
The valuation of Tower Paddle Boards when it appeared on Shark Tank was $1.5 Million. As of 2022, the net worth of Tower Paddle Boards appears to be $5 Million.