Are you a surfer who is looking for a way to pursue your passion even during the times when the ocean does not cooperate with you? Or, Are you simply a surfing enthusiast who wants to surf even when on land?
Pretty wild imaginations right?
Not Anymore, because all these fantasies will now come true through Hamboards, a skateboard that combines with it the pleasure of a surfboard !!
Hamboards at a Glance:-
| Idea | Surfboard Style Skateboards |
| Founders | Gus and Pete Hamborg and Donnie Sandusky |
| Asked For | $100,00 for 15% |
| Accepted Deal | $300,000 for 30% |
| Sharks | Robert Herjavec |
| Business status | In Business |
| Episode No. | Season 5, Episode 4 |
| Buy on Amazon | Buy Now! |
Index:
What is Hamboards?
Hamboards are “Surfboard style Skateboards” that claim to simulate the surfing experience when the ocean waves aren’t favorable for riding on.
The Hamboards feature the long body of a surfboard and wheels of a skateboard to provide an experience of surfing the ocean but on land.
The company engineers all the products carefully, keeping in mind the aerodynamics of the boards while at the same time keeping them light in weight and providing an “On-Land” surfing experience.
Their motto is “Helping everyone to Landsurf”.
Founder Story:
Hamboards is a family heirloom, which is being taken to a new level by the Hamborg family. Hamboards, as evidenced by its name is derived from the Hamborg family which consists of parents and 5 boys.
The family loves their longboards so much that they decided to manufacture these longboards professionally under the name of “Hamboards”.
The founders consist of father Pete, his son Gus, and Gus’s cousin Donnie. They started their first line of manufacturing in their hometown, Huntington Beach, California.
The company is a result of what Peter calls his inspiration, the ocean waves, and the incessant labor of the whole Hamborg family.
Did Hamboards get a deal on Shark Tank?
The segment starts with a video representation of Hamboards, followed by the founders entering the Tank on their respective Hamboards and announcing an ask of $110,000 for 15% equity.
They even made the Sharks try out their products. Donnie also explained how he created a “No-Flat” technology for the wheels of their boards.
While discussing the financial numbers, the founders stated that they made $225,000 in the previous year and were now projecting sales of $350,000 for the current year.
Their most popular SKU sells for $525 and costs them about $175 to make it. They also have a range of paddles, that transform Hamboards into paddleboards.
Sharks like Lori, Mark, and Kevin think that the product is too niche and there will be lots of work and capital required to create a market for it.
Daymond however, wants to license the boards and introduce them in the market, he hence offered $100k for 30%. Robert also offers them a greater capital of $300k but for 33%.
The founders negotiate with Robert, to reduce the equity to 30% and eventually end up finding a common ground with him. They successfully walked away with a deal of $300k for 30% from Robert Herjavec.
What happened to Hamboards after Shark Tank?
Following its stint on Shark Tank, the company’s sales blew up by an enormous amount. They also appear in a Shark Tank update section where Robert announces that they crossed $1 million in sales since their appearance on the show.
The products are still handmade but the company’s base has shifted to a larger arena. It is safe to say that Hamboards is truly rolling !!
The company has also launched medium and small-sized boards depending upon the market demands.
In March 2021, Abraham Paskowitz, son of the surfing legend Dorian Paskowitz, popularly known as “DOC”, joined Hamboards as a Chief executive Officer.
The company has expanded to 60 retail stores,59 in the USA and one in Thailand. As of 2022, they are still making $1 million annually.
Product Details:
- Hamboards offers a wide collection of surfboards, skateboards, paddles, gear, and other accessories.
- Their flagship product is called “SurfSkate” which combines surfing and skating in one board.
- Hamboards are made from bamboo or birch decks and commercial truck wheels and bearings.
- The boards are made from lighter wood so that they are easier to transport.
What’s the net worth of Hamboards?
Hamboards entered Shark Tank with a demand of $100,000 for 15% equity, valuating the company to $666k.
The founders however accepted a deal of $300,000 for 30% from Robert Herjavec, bringing the valuation to $1 million.
Currently, the company is performing very well and has an annual revenue of $1 million. The Net Worth of the company, however, remains unestimated.
Who are the competitors of Hamboards?
The major competitors of the company are:
- Bustin Boards
- Stoked Skateboards
- Action Watersports
- Landyachtz
- Black Diamond Sports, and many more.
Is Hamboards still in business?
Yes, Hamboards is still in business and thriving at that. The company is owning the board market while constantly launching new SKUs to provide a wider array of choices.
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FAQs:
What is Hamboards?
Hamboards are “Surfboard style Skateboards” that claim to simulate the surfing experience when the ocean waves aren’t favorable for riding on.
What's the net worth of Hamboards?
Currently, the company is performing very well and has an annual revenue of $1 million. The Net Worth of the company, however, remains unestimated.