Scott Swerland and Joe Beaudry pitch their sensory deprivation tank company, Urban Float, to the Sharks in episode 1013 to calm them down.
When Beaudry was laid off from his high-stress job at Verizon Wireless in 2011, he decided to try out a sensory deprivation tank to help him decompress.
He turned to a friend for assistance, and this friend connected him with Mr. Swerland in the first place.
Swerland is the proud owner of 90 tanning beds across the country. They debuted their first “salon” in 2013, which contained three pods.
Sensory deprivation tanks and pods use body temperature water. This water is saltwater infused with Epsom salts.
You float in complete darkness and silence (the salt ensures this even if you doze off). Supposedly, it’s a very soothing experience.
When Beaudry first tried it, he was hooked and even claimed that his vision had improved due to the experience.
Beaudry resigned from his position as a vice president of Verizon Wireless to work full-time for UrbanFloat. The first salon was occupied for 22 hours out of the day.
They opened two more locations after that, and in 2016, they launched their first franchise.
A deal has been made with Houston-based Urban Float to open six salons there this year, with plans to expand across the country. The total sales for the previous year were $1,150,000.
The craze for sensory deprivation tanks peaked in the late 1960s and early 1970s, but it quickly faded. They appear to have re-awakened.
Many well-known athletes use them, such as Olympic gymnast Ali Raisman, Golden State Warriors’ Step Curry, and many Boston Red Sox players.
Beaudry claims that his company is expanding across the country, and he aspires to be the best in the business. Is it possible that a Shark will jump into one of these aquariums?
What Is Urban Float?
Urban Float provides a sensory deprivation tank filled with warm water and Epsom salts, which can rejuvenate, refresh, and revive visitors after spending time (60 minutes).
The business is built on the foundation of flotation therapy. You may not be aware of the long-term physical, psychological, and emotional benefits of floating.
The goal at Urban Float is to make the floatation therapy process as comfortable, relaxing, and pleasant for guests as possible.
Urban Float creates a haven for everyone, whether they need pain management, stress relief, sports recovery, or just a break from a constantly connected world.
You’ll get the assistance you need because you’re outfitted with the best flotation systems for increased safety, comfort, and convenience.
|Company Name||Urban Float|
|Founder||Joe Beaudry & Scott Swerland|
|Product||Float spas with Epsom salts|
|Investment Seeking||$500,000 For 5% stake in Urban Float|
|Final Deal||$500,000 For 12.5% stake in Urban Float|
|Episode||Episode 10 Season 6|
|Business Status||In Business|
Who Is The Founder Of Urban Float?
Joe Beaudry and Scott Swerland are the entrepreneurs behind the health and wellness brand.
Urban Float Before Shark Tank
One of the potential co-founders, Joe Beaudry, was looking for ways to handle stress and improve performance while pursuing a career in technology.
If he found himself floating, it would be the beginning of something incredible. He focused on developing a quality floating system as a result of his life experiences.
Joe met with serial entrepreneur and CEO Scott Swerland in 2012 during his search for a business partner to help bring his idea to life.
Scott and his family decided to give it a go while on vacation. After the first float for four days, lifelong pains like arthritis were completely gone.
The floating experience would greatly complement what existing operators offer, but many retailers are laser-focused on the operational details.
The first Urban Float was launched in 2013 and immediately began to improve and transform the floatation industry.
How Was The Shark Tank Pitch Of Urban Float?
Scott and Joe are looking to buy a 5% stake in the business Urban Float for $500,000. They inform the Sharks of their statistics and business model.
The company’s four franchisees generated $2.5 million in sales last year. They had a cash flow of only about $600,000 during that time. A new franchise requires an initial investment of 500,000 dollars to get up and to run.
Matt points out that the Miami Dolphins use such tanks to aid injured players in their recovery. As a result, Lori is worried that the pods aren’t hers alone.
When Mark learns that they have $1 million in SBA loans, he leaves; he also believes that the trend will not continue for long. After Mark leaves, Lori and Daymond follow suit.
Kevin offers Sharky a deal for 15 percent of the business: $100,000 as an investment and $400,000 as a loan, both at 9.5 percent interest per year for 36 months.
Additionally, Matt offers a counter-offer: $500,000 for a 15% stake in his company. They counter with 7.5 percent from Scott and Joe, and Lori and Daymond say they’re undervaluing Matt’s expertise.
Lori and Daymond raise their voices once more when the guys raise their counter-offer to 10%. Matt agrees to a reduction to 12.5%, and the deal is finalized.
What Happened To Urban Float After Shark Tank?
Urban Float has grown enormously in the last two years. The company currently has four locations in Washington: two in Seattle, one in Tacoma, and one in Vancouver.
It also has a presence in other states like Ohio, Texas, and Delaware, with some operations.
In the future, the company hopes to expand into other states. What is the procedure for using Urban Float’s services?
Clients float in a water-filled sensory deprivation pod for pain management and stress relief.
According to Urban Float, recent studies show that floating has positive effects on the body, mind, and emotions.
“Appearing on Shark Tank gave us international exposure,” says Urban Float CEO Scott Swerland. “It helped us reach a wider audience and share our vision of making floating a more accessible form of therapy.”
Float therapy benefits and why it is an excellent choice for anyone interested in pain management and stress relief have been made available to the company.
Is Uban Float Still In Business?
Urban Float saw a 60-70% increase in awareness after the episode aired.
This company was also interested in franchise opportunities. The franchise development team added a new member. They had agreements in place with thirty more venues before the show.
Scott and Joe walked away from the deal during the follow-up due diligence with Matt Higgins’ team.
Ohio and Delaware are home to the other two franchises. There’s no doubt that the Covid-19 pandemic put a halt to their expansion plans.
Liquid capital of $150,000 is required for franchises, as is a net worth of $300,000. To get started, you must put down a down payment of $452,300.
Urban Float is still in business and making above $1 million a year as of November 2021.