'Shark Tank' contestants get Robert Herjavec to surf on the set — and later bagged a $300,000 deal
Judges on "Shark Tank" aren't just smart investors and shrewd negotiators, but they also show off their moves on the dance floor and other talents on the reality TV show. In one such display, Robert Herjavec was seen flaunting his ability to surf when the founders of SurfSet Fitness, Mike Hartwick and Sara Ponn, hit the deck on the show. When the couple pitched their revolutionary fitness equipment, RipSurfer X, which mimicked the movements of a surfboard on water, Herjavec stepped up to try it. In the end, he failed to surf his way to the deal, as Mark Cuban won them over with a $300,000 offer.
In the episode, Hartwick and Ponn entered the Tank seeking $150,000 for a 10% share in their company. During their pitch, they introduced the RipSurfer X, a surfboard-shaped piece of workout equipment that helped surfers practice their skills or learn surfing on land. To demonstrate how the machine worked, they brought pro surfer Lakey Peterson to take it for a spin. The surfer showed how the machine mimicked the movements of a real surfboard on water and how it can also be used as workout equipment.
Herjavec was so intrigued by the product that he jumped up from his seat to try it out. The dashing Shark took off his jacket and got on the board like a pro. He even showed off his skills by switching stance, but in the end, he nearly fell off the board while trying to do a one-legged trick on the board.
After everyone’s excitement subsided, the Sharks got down to business. Daymond John made the first move, questioning the company's $1.5 million valuation. The two entrepreneurs then shared that their company had $150,000 in sales just in the last 4 months alone, as there was immense public interest. They added that their product was featured on Good Morning, America, and Access Hollywood, which had a significant boost in revenue. They further had over 200 inquiries about franchising as well, and they shared that they were set to embark on a nationwide surfing certification drive with the goal of hitting every major city.
Mark Cuban told the entrepreneurs that he loved the idea and was interested in the company. "I think that this is a great idea. You could actually go out there and hire professional surfers to be your certifiers and trainers which would give you a lot of authentication because of that I think you're going to need more than $150,000 in cash to do it right," he suggested. Thus, he offered the founders $300,000 but for 33% of the company, just to get enough skin in the game.
Herjavec loved SurfSet too, and he made a quick offer of $100,000 for 20% equity. John jumped in as well, offering $150,000 for 25% with an unlimited manufacturing deal for the RipSurferX boards. Kevin O'Leary then partnered with John to share the same deal.
Cuban wanted to go solo on the deal. In the end, Ponn and Hartwick negotiated with Cuban to bring the equity ask down a bit. When the shark agreed to take 30% for $300,000, they accepted the deal.
According to Shark Tank Blog, after the episode aired in 2012, the SurfSet crew embarked on a nationwide certification drive. They also partnered with some big companies such as Under Armour, Garnier Fructis, and Qboda Mexican Grill, and expanded their presence to 29 cities with RipSurferX-certified trainers. However, as of 2021, their website was down, and Hartwick had distanced himself from the company.
