Greg Demirjian, an enthusiastic surfer, brought a unique solution for the sunburn problem faced by action athletes. He developed Surf Band Pro to ensure that people do not have to carry lotion bottles while playing. The product was a wearable wristband that had a container filled with sunscreen.
The patented design and unique concept surely solved the problem for most people. However, Sharks lost interest when Greg said the company began production a month ago and sold only 200 units. The owner tried till the last moment to strike a deal.
He told the panelists about his love for Shark Tank and his willingness to make it big. Were these statements enough for the Sharks to persuade the Sharks, or did it all fall apart for Greg Demirjian? Find out in our Surf Band Pro Shark Tank Update.
Surf Band Pro Net Worth 2024
Greg Demirjian asked for a $150k investment in exchange for 15% equity in his company. This meant he valued his company at $1 million. He did not make a deal with any of the Sharks, so his company’s valuation remained at $1 million. For a quick Surf Band Pro update, after the show aired, Surf Band Pro saw a big increase in demand and partnered with the United Nations to help fight malaria. With an estimated 15% yearly growth rate due to increased exposure and strategic partnerships, the current net worth of Surf Band Pro in 2024 is about $1.52 million.
Surf Band Pro Shark Tank Update
A rejection from the Sharks never means that the business would perform badly. Surf Band Pro felt the Shark Tank effect when Greg Demirjian received reviews and suggestions from all over the USA. The demand for the product increased, which was expected.
Surf Band Pro also partnered with the United Nations to help fight malaria. The product’s unique concept ensures mosquito repellent availability anywhere a person can go. The business is growing. Greg did not rebrand the product but surely marketed it as a multipurpose device.
The Surf Band Pro did not get a deal on Shark Tank. The product had a great concept and solved the problem faced by most people, but the company did not sell enough units to interest the Sharks. Barbara Corcoran was the first Shark to opt out as she considered the market competitive for a new entrant, and the risk of failure was high.
Mark Cuban liked the concept, but in his opinion, the product was difficult to sell because Greg Demirjian had to educate the users first. Lori Greiner also praised the unique concept. However, she did not like the marketing aspect. She wanted Greg to rename the product to make it sound more generic.
Kevin O’Leary had high hopes for the product and predicted its success on TikTok and Instagram. However, the lack of sales made him opt out. Robert Herjavec did not consider the market big enough to consider investing in Surf Band Pro. Keep reading our Surf Band Pro update to see what happens next!
| Shark(s) Name | Offer and Demand | Counteroffer | Accepted? |
| Robert Herjavec | Out | N/A | N/A |
| Kevin O’Leary | Out | N/A | N/A |
| Lori Greiner | Out | N/A | N/A |
| Mark Cuban | Out | N/A | N/A |
| Barbara Corcoran | Out | N/A | N/A |
Surf Band Pro Shark Tank Pitch
Greg Demirjian, an enthusiastic surfer from New York City, has always loved surfing and other action sports. During the COVID-19 pandemic, he pursued making something to help people put sanitizer anywhere. He designed the Surf Band Pro to help people carry sanitizers, sunscreens, and gels.
Greg faced a problem designing the product because when the button was pushed, air intake was needed to restore it to its original form. He took inspiration from the clickable pen and introduced an annular seal to make the Surf Band Pro airtight and leakage-free. Despite getting rejected by 15 to 17 industrial designers, Greg Demirjian designed the right product for sportsmen.
Greg Demirjian entered the Shark Tank Season 14 Episode 15 with a unique wearable device for athletes. He described himself as a surfer challenged by three things: sharks, drowning, and sunburns. Though the first two were somewhat unavoidable, Greg had a solution for the sunburns.
He explained the struggle when a surfer wears sunscreen, rides the tide, and falls down. The sunscreen wears off pretty quickly, exposing the skin to ultraviolet radiation. He further explained the misery action sportsmen had to go through due to the tight clothes and absence of pockets to carry a sunscreen bottle.
Greg presented the Sharks with Surf Band Pro, a wearable wristband filled with sunscreen. The product needed just a push to squirt out the sunscreen. The accessibility and easy reapplication made the product unique and value-adding.
Lori Greiner asked if there were any similar products on the market. Greg Demirjian clarified that the Surf Band Pro was a patented product. The value was patented because it really helped solve the problem. He explained that the product needed air for a split second after the push to help the lid restore. However, when Greg tried to engage industrial designers, they rejected the idea and claimed that the concept was difficult to materialize.
After getting rejected by the top brands and 15 to 17 industrial designers, Greg eventually solved the puzzle when he clicked a pen. The pen remained airtight and wet inside upon continuous clicking. That was when Greg learned about the annular seal and adapted it to develop a product design.
Kevin O’Leary wanted to know about the sales. To everyone’s surprise, Greg disclosed that he started manufacturing the product a month ago. He only sold 200 units, which was not ideal for investors to trust a consumer product.
Barbara Corcoran inquired Greg about the money he had put in his company. Greg explained that he had put $150,000 into Surf Band Pro because he had to manufacture the product and get it patented. He further added that he wanted to work with the Sharks. He loved the show, and appearing on it was a dream come true.
Though every Shark was unimpressed by the information Greg shared, Mark Cuban courteously asked for the cost and price of the Surf Band Pro. Greg elaborated that the company sold the Surf Band Pro for $19.95 online while the wholesale price was $9.95. Each unit cost the company $5 to make.
Barbara Corcoran argued that many other products fulfilled the same purpose because mothers and children use them daily. She considered the skincare industry highly competitive, so she opted out. Mark praised Greg for his cool idea. However, he was reluctant to invest because Surf Band Pro was hard to sell. The product would need demonstrations to help people understand its purpose.
Lori Greiner applauded the idea that people can carry sunscreen anywhere, as bottled products were hard to apply. She advised Greg to work on marketing the Surf Band Pro. Buyers might mistake it for a product made specifically for surfers. However, it could be used as a sunscreen or sanitizer carrier for any user. She considered the product niche, so she opted out.
Kevin O’Leary suggested that Greg name the product Squirt Master Pro because it sounded more generic and catchy. Kevin had high hopes for the concept and foresaw it as a success on Instagram and TikTok. He opted out but admired the concept a lot.
Robert Hervajec also opted out. He called the product concept clever but wanted Greg to rebrand it. He did not consider the market big enough for him to invest.
Despite the rejection from each Shark, Greg Demirjian continued to persuade them. He advocated the company’s patented design and considered it as the
What Went Wrong For Surf Band Pro On Shark Tank?
Sharks usually refrain from investing in businesses that do not have the sales to support their claims. The same thing happened to Surf Band Pro on Shark Tank Season 14 Episode 15, where Greg Demirjian disclosed that he only sold 200 units, and the production started a month ago. These facts greatly affected the Sharks’ confidence in the product because there were no numbers to quantify the projected success.
Moreover, Sharks also had problems with the branding and marketing of the product. Lori Greiner, Kevin O’Leary, and Robert Herjavec advised Greg Demirjian to change the product’s name from ‘Surf Band Pro’ to ‘Squirt Master Pro.’ They argued that the product could be used generally by all sorts of customers, but the current name sounds more specific for the surfers.
Product Availability
From our Surf Band Pro update research, Surf Band Pro is an easy-to-use product anyone can wear and use. The concept is simple: the user had to put the sunscreen inside the compartment. The compartment has a pressable lid that ejects the sunscreen, gel, or other similar stuff upon pressing.
The wearable industry is a highly competitive space where companies must ensure uniqueness. The patented valve of Surf Band Pro will somehow help it compete. The $19.95 retail price is acceptable for a wearable product. The $5 cost at the initial production means the company could earn high margins if it continues to scale.
Conclusion
Surf Band Pro is a combination of skincare and wearable industry where the owner, Greg Demirjian, designed a patented product for athletes. The concept was good, but the owner pitched too early on the Shark Tank. Being a company that started manufacturing a month ago, Surf Band Pro had a low chance of succeeding on the show.
Greg tried his best to strike a deal, but the Sharks immediately identified the weak branding and sales performance. The pitch and discussion were short, as the only thing that went Surf Band Pro’s way was the patented design. The product had great potential but lacked the financial numbers to persuade Sharks. The owner called the presentation a ‘learning experience.’
Hi. I’m Daniyal Durrani. A CA-finalist, CPA-UK, and Master in Economics, with a decade-long business studies experience. I work as an Audit and Business Advisory Manager in a globally recognized accounting firm. I have been watching Shark Tank for a long time and have always admired the innovative business ideas. The revolutionary solutions to unaddressed day-to-day problems presented on the show used to impress me like no other thing on TV. Read more About me.