A firm called Urban Float makes relaxation pods. The goal of the company’s founders Scott Swerland and Joe Beaudry was to assist people in lessening their pain and stress. Their pods allow users to float in Epsom salt-infused water. The business offers a tranquil and serene experience. Users of Urban Float utilize it to unwind, heal, and feel better.
Scott and Joe made a company proposal on Shark Tank. They requested $500,000 in exchange for 5% of their business. They described their business and demonstrated how their pods operate. The Sharks had a lot of questions about the company, but they liked the idea. Everything was discussed by Scott and Joe. There were a lot of arguments throughout the episode. Will the entrepreneur get a deal on Shark Tank? Check out the Urban Float update to find out!
Urban Float Net Worth Shark Tank Update 2025
Scott Swerland and Joe Beaudry asked for a $500k investment in exchange for 5% equity in their company. This meant they valued their company at $10 million. They made a deal with Matt Higgins for $500k in exchange for 12.5% equity, revising the company’s valuation to $4 million. After the show aired, Urban Float saw a big increase in website traffic, sales, and social media exposure. With an estimated 10% yearly growth rate (typical business growth), the current net worth of Urban Float is about $6.44 million.
The company Urban Float is still operating today. The business continued to expand after the show. Their main focus was franchising. Others can now open their own Urban Float locations as a result. The business generates more than $1 million in gross sales annually as of 2024. After the show, the agreement with Matt Higgins was not finalized, but Urban Float continued to grow in spite of it.
There are several Urban Float locations throughout the US. Information about their services is available on their website. Relaxation pods are available to patrons at their locations. Urban Float continues to use floating as a stress-reduction and healing tool. The business has remained loyal to its initial objective.
Indeed, on Shark Tank, Urban Float secured a deal. Matt Higgins made an offer of $500,000 for a 12.5% stake. At first Joe and Scott only intended to contribute 5% of the equity. They engaged in back-and-forth negotiations with Matt. They ultimately accepted his condition.
However, following the show the contract was not finalized. Urban Float and Matt Higgins did not proceed together. Urban Float expanded its operations even in the absence of the purchase. They concentrated on growing their franchise.
Shark(s) name | Offer & Demand | Counteroffer | Accepted? |
| Guest Shark: Matt Higgins | $500,000 for 15% equity | #1 $500,000 for 7.5 % equity #2 $500,000 for 10% equity #3 $500,000 for 12.5% equity | yes to 3rd deal |
| Lori Greiner | Out | N/A | N/A |
| Kevin O’Leary | $500,000 for 15% equity structured as $400,000 in debt at a 9.5% interest rate for 36 months, with $100,000 in equity | N/A | N/A |
| Daymond John | Out | N/A | N/A |
| Mark Cuban | Out | N/A | N/A |
Urban Float Shark Tank pitch
Urban Float was developed by Scott Swerland and Joe Beaudry to promote relaxation. They saw that people suffered from pain and stress. They sought to provide an answer. Floating in a pod with sensory controls may improve people’s mood.
In the beginning, the founders only had one place in Seattle. They put a lot of effort into expanding the company. It was difficult to open their first store. Their friends and family helped them fund $300,000. They later opened more stores with the $1 million they made.
Trial and error taught Joe and Scott how to manage their company. They worked on their float pods and centers for years. They wanted to create a spa-like calming environment. They ensured that the pods’ water was pure and safe. After each use the water is sanitised by Urban Float’s filtering system.
The founders had to overcome obstacles as well. Convincing others to try floating was one of the challenges. Not everyone thought it was beneficial. It was Joe and Scott’s responsibility to inform and promote the experience. Customers were urged to experiment with floating several times in order to observe the advantages. Managing the high expense of opening new locations presented another difficulty. The setup expenditures for each location range from $500,000 to $600,000.
Scott and Joe walked confidently into Shark Tank. They promoted Urban Float as a way to reduce stress. The pods were characterized as private areas for rest. Consumers submerge themselves in water containing 1,200 pounds of Epsom salts and float weightlessly. There are lighting and audio options in the pods. The company’s success was shared by the founders.
They began franchising two years prior and had four corporate outlets. They brought up a franchisee who, after turning a profit at one store, purchased four more. Joe and Scott intended to use the Sharks to help them grow even further.
They described their pricing strategy. The cost of a single float session is $45. It costs $150 for a monthly subscription that includes unlimited floats. Scott and Joe discussed their financial information. The company reportedly generated $2.5 million in revenue and $600,000 in cash flow during that year. They requested $500,000 for 5% ownership citing their company’s $10 million valuation.
Although impressed the Sharks were wary. They were interested in scalability, expenses, and debt. Scott and Joe firmly responded to each question.
Urban Float was the subject of numerous questions from the Sharks. How is the water treated in between uses? enquired Lori Greiner. The filtration system was described by Joe. The water undergoes four cleansing rounds. UV radiation is used to heat, treat, and sanitize it. The water is cleaner than drinking water, according to Joe. Barbara Corcoran enquired as to whether fresh salt is given to every customer.
According to Joe the salt is filtered and cleansed while remaining in the pod. Mark Cuban wanted to know how much it would cost to open a new site. “It costs between $500,000 and $600,000,” Joe remarked. Kevin O’Leary had a question regarding memberships. Joe clarified that they provide a variety of choices. Clients can get unlimited monthly floats for $150 or a single session for $45. Kevin enquired about profits as well.
The first Shark to speak was Mark Cuban. He did not want to invest, but he liked the idea. “Floating might be a short-term trend,” he remarked. Additionally, he disliked the company’s debt. He left. Lori Greiner and Daymond John also went out. Daymond declared that the retail model did not appeal to him. The financial danger did not sit well with Lori. The initial offer was made by Kevin O’Leary.
He made a 15% equity offer of $500,000. He made the agreement with 80% loan and 20% cash. The interest rate on the loan was 9.5%. Another offer came from the guest Shark Matt Higgins. He made an offer of $500,000 with no financing requirements and 15% equity. He thought he could contribute to the company’s expansion. Scott and Joe desired to reduce the equity.
They requested 7.5% equity in response to Matt’s offer. “No,” Matt answered. He clarified that he adds value to the business. He insisted on 15%.10% stock was then requested by the founders. Matt declined once more. Matt finally agreed to meet with them at 12.5%. Scott and Joe agreed to the terms.
What Went Wrong With Urban Float on Shark Tank?
Due to the debt, some Sharks refrained from investing. The business owed $1 million. Because of this, the business was dangerous. Lori Greiner and Mark Cuban both brought up the issue of debt. The valuation was another problem. The founders valued the company at $10 million. Mark Cuban said that this was excessive. A lower valuation was what the Sharks desired.
The long-term demand for floating was also questioned by some Sharks. Mark Cuban likened it to the once-popular but now-faded cryotherapy. He thought floating might follow the same path. Daymond John did not appreciate the retail strategy. He thought the business was not unique. Additionally, Lori stated that the pods were not proprietary.
Product Availability
Float pods with sensory control are available from Urban Float. Customers can float in Epsom salt water with these pods. The pods aid in relaxation, recuperation, and stress reduction. For a customized experience, patrons can change the lighting and music.
There are Urban Float locations in multiple states. Details are available to customers on their website. Prices and membership options are also listed on the website. The price of one float is $45. Memberships that are unlimited each month cost $150.
Urban Float’s franchising approach allows others to open their own sites. Franchisees must fulfill the company’s requirements for design and cleanliness. The spa-like experience is the same at all locations. Individual clients are not sold the pods. Providing the experience at their centers is the main goal of Urban Float.
Conclusion
The Sharks were impressed by Urban Float’s leisure pods. Scott and Joe made a solid pitch for their company. They negotiated a $500,000 deal with Matt Higgins for a 12.5% stake.
The contract was not finalized after the show. Even without it, Urban Float kept expanding. They increased their locations and concentrated on franchising. The business continues to provide floating as a stress-relieving activity.
The journey of Urban Float demonstrates the strength of perseverance and creativity. Their future is bright as they help more individuals unwind.
Hi, I’m Laiba Khurram, a BBA student specializing in Marketing at FAST NUCES ISB. My background includes experience in finance, marketing, and event coordination. My skills include teamwork, time management, and Microsoft tools. Watching Shark Tank has always inspired me, as I admire the innovative pitches and entrepreneurial spirit showcased on the show. This passion drives my approach to finding creative solutions and understanding market dynamics. Read more About me.
