Tower Paddle Boards: Over $40,000,000 in Sales

The Amazing Shark Tank Success Story

Do you want to know about the biggest success story on Shark Tank that generated over 40 million dollars in sales? Well, today we have the founder and owner of Tower Paddle Boards, Stephan Aarstol, who's going to spill the beans on what it takes to present your plan in front of the Sharks. What started out as a passion to disrupt the expensive paddleboard (sponsored) market has now turned into a full-blown business that generates $500,000 a month with only six employees.

Tower Paddle Boards is a prime example of how innovation and determination can lead to incredible success. Stephan Aarstol, an internet marketing executive, saw an opportunity in the paddleboard (sponsored) market and decided to take the plunge. With a keen eye for demand and supply, Aarstol found a gap in the market and capitalized on it. As he puts it, "You find high demand and you find low supply, and you just meet that demand."

The Journey to Shark Tank

Aarstol's journey to Shark Tank was not without its challenges. In fact, he admits that his pitch on the show was known as "the worst pitch in the history of Shark Tank" but still managed to land him a deal. Reflecting on the experience, he shares, "I had to practice this like a thousand times in my hotel room...I lost my track and then I was like silent and like stuttering and stammering to restart. But I gathered myself and then I sort of came back and did much better in the question and answer period."

Despite the rocky start, Aarstol secured a deal with Mark Cuban for $150,000 in exchange for 30% of the company and the first right of refusal to invest in any future business Aarstol raises money for. This deal marked a significant milestone in the history of Shark Tank.

The Tower Paddle Boards Product Line

Tower Paddle Boards started with a focus on paddleboards, offering an affordable alternative to the expensive options available in the market. However, Aarstol always had a bigger vision in mind. He wanted to create a holistic beach lifestyle brand. This vision led Tower Paddle Boards to expand its product line to include surfboards, electric bikes, and more.

Tower Paddle Boards has become a leader in the inflatable paddleboard market, offering high-quality boards at an affordable price. Aarstol explains, "We started in cardboard epoxy boards here and then these boards are inflatable boards, and this is really what we've become a leader in the market." Additionally, the company has ventured into surfboards and electric bikes, providing customers with a wide range of beach lifestyle products.

Starting with Minimal Investment

Tower Paddle Boards is a testament to the fact that you don't always need a large sum of money to start a successful business. Aarstol reveals that they didn't have any money to start the paddleboard business. Instead, he used $30,000 worth of inventory from his declining poker chip business to kickstart Tower Paddle Boards. This bold move paid off as the paddleboard business soared, while the poker chip business took a back seat.

The Shark Tank Effect

Appearing on Shark Tank had a significant impact on Tower Paddle Boards' growth. Aarstol explains that the Shark Tank effect is often misunderstood. While it does bring a wave of traffic to your website for a few days, it's important to take advantage of that wave and leverage it further. Tower Paddle Boards, being an SEO company, understood the power of organic search results. Aarstol was excited about getting a link from abc.com, which significantly boosted their website traffic.

Over the course of four days, Tower Paddle Boards experienced a tremendous bump in sales, raking in $60,000. However, the impact continued long after the initial wave. That year, Tower Paddle Boards reached a staggering $1.3 million in sales. Aarstol reminisces, "We were doing sixty thousand dollar days later on."

The Tower Paddle Boards Team

Despite their enormous success, Tower Paddle Boards operates with only six employees. Aarstol believes in hiring smart individuals fresh out of college who are eager to learn and grow. The team takes on various roles, including customer service and shipping, ensuring that every member understands the product, market, and customers inside out. This approach has garnered praise from customers who appreciate the direct interaction with the experts behind the brand.

Growth Hacking: Unlocking Success with Limited Resources

Growth hacking played a crucial role in Tower Paddle Boards' journey. Aarstol defines growth hacking as "the early internet term for how do you grow a company with no money." They leveraged other people's networks (OPN) to their advantage. For example, they used free postings on Craigslist to promote their listings, much like how Airbnb grew using the platform. They also focused on search engine optimization (SEO) to capture organic search results.

Aarstol advises other entrepreneurs to look for opportunities to leverage existing networks and influencers in their field. By doing so, businesses can tap into already established audiences and extend their reach effectively.

Tower Paddle Boards: A Company on the Rise

Tower Paddle Boards' success story is far from over. With their dedication to innovation, quality products, and customer satisfaction, they continue to grow and evolve. Their commitment to providing exceptional customer service and personalized experiences sets them apart in an industry that often lacks the human touch.

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