The Spooner blends the thrills of skating and surfing in one package. Their board has no wheels and glides across the ground like a surfboard. They sold over 1100 skateboards in six weeks simply by letting them sit in their shop.
Before Shark Tank, the Spooner Had a Lot of Sales:
The boards cost $12-12.50 to make, and they sold for one million three hundred thousand dollars. In 2016, they increased to one million seven hundred thousand dollars. The boards are made in the United States. With no debt and no other owners, the company made $400,000 last year.
The entrepreneurs are pitching on Shark Tank because they want to expand their business. When Toys R’ Us approached them, they were concerned about the amount of money they would have to invest in a big box store.
What Do the Shark Tank Judges Think About the Spooner?
Robert Herjavec sees them doing what they enjoy while generating a lot of money, and he wants to know if they can handle the amount of discipline that comes with having investors.
Barbara Corcoran offers $200,000 for 8% in exchange for half of the money. She believes they are prepared because they declined the big box store. Barbara is adamant about not having Kevin as a partner. Barbara persuaded Mark to accept the remaining half of the arrangement on the basis of a yes or no decision right now. They accept the offer.
Kevin O’Leary informs them that they require a bank, and he offers $400,000 in exchange for $2 per board until he reaches $800,000, plus 3% options if they sell the company with no voting rights. Lori Greiner emphasizes the importance of a strategic partner. They accept Mark Cuban’s contract with Barbara Corcoran without waiting for Lori’s offer.
Mark Cuban discusses Surfset Fitness and how it has improved their life. They made restitution to the Sharks so that they may work at their own pace. Mark does not believe they are prepared.
After Shark Tank, What’s Next for The Spooner?
The Spooner brothers have done an incredible job getting their boards into classrooms and selling them around the country. They’ve also created other goods. The transaction with Mark Cuban and Barbara Corcoran hasn’t prevented these gentlemen from having a good time! Spooner is available on Amazon.
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The Spooner Now in 2022– the After Shark Tank Update
The Spooner brothers have been hard at work since their appearance on Shark Tank. According to their Facebook posts, Reuben is still out and about exhibiting these boards. They’ve gone to a couple of additional toy fairs to promote their goods, including the ASTRA Toy Expo in Chicago, which is a specialty toy show.
Subfloor Tiles, which are sensory tiles that swirl and move as you step on them, are another new product they’ve invented. Simply go to their website to purchase these things or discover a retailer near you.
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