Tower Paddle Boards Shark Tank Update
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 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. 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.
Aarstol established Tower Paddle Boards in the same year, 2010. He was inspired to do so after observing the growing popularity of standup paddleboarding online and in real life. He made $100,000 in sales in just four months and can sell a 1,200-square-footboard for under half its retail price. Internet or Affiliate Marketing is the tactic that he uses.
Tower Paddle Boards heavily promote the health benefits of standup paddle boards since one hour standing on a board equals eight hours of riding waves on a surfboard. Tower Paddle Boards’ success is directly related to Stephen Aarstol’s ability to market online.
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 uses his talents in standup paddle boards’ affiliate marketing and internet marketing.
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 having fun and relaxing on the lake or beach.
The full-body training experience becomes fantastic when you add some intensity. Many people are ditching the gym and going to the ocean to get their exercise instead, thanks to paddle boarding.
Tower Paddle Boards, established in 2010, has revolutionized the paddle board industry by directly offering top-notch, durable boards to consumers at unbeatable prices. Known for their innovative 6-inch thick inflatable paddle boards, Tower has made paddle boarding accessible to a broader audience.
Tower Paddle boards are renowned for their stability and durability, making them perfect for beginners and seasoned paddle boarders. With a focus on customer satisfaction, Tower boasts over 100,000 happy customers and continues to lead the market with its direct-to-consumer model.
Their product lineup includes the elite TOWER X-Class, the premium TOWER Classic, and the starter TOWER S-Class, catering to various needs and budgets. Committed to quality and innovation, Tower Paddle Boards remains a trusted name in the paddle-boarding community, offering exceptional value and performance.
| Company Name | Tower Paddle Boards |
| Entrepreneur | Stephan Aarstol |
| 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 |
| Shark | Mark Cuban |
| Episode | Season 3, Episode 9 |
| Business Status | In Business |
| Website | Tower Paddle Boards Website |
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 online 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 they sell directly to consumers rather than through a retail chain.
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 could sell 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, he named his line 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 relatively 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, hoping to get 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 can 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 somewhat frazzled. He asked Stephan about the functionality of the Tower Paddle Boards.
Stephan adds that Tower Paddle Boards is a paddles, boards, and accessories retailer for 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, 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 regarding 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, selling his brand of paddle boards to a third party would be simpler and having 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 enjoys paddleboarding and believes Tower Paddle Boards are superior quality products. He worries about 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 found nothing in Tower Paddle Boards that distinguished it from the wide range of available similar products. 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 most excellent 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. Their numerous items and the locations where they have been featured are available for purchase on their official website.
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 unique 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 significant costs for those who 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 have the same rigidity as hardboards 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.
Tower Paddle Boards has expanded its product line to include skateboards, clothes, beach tents, swimwear, and other items. Tower Paddle Boards is still in business, with an 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 immensely 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.
The valuation of Tower Paddle Boards when it appeared on Shark Tank was $1.5 Million. The current net worth of Tower Paddle Boards is estimated to be $5 Million.
