What is Urban Float and what services does it offer? Urban Float is a wellness company founded by Scott Swerland and Joe Beaudry that specializes in sensory deprivation therapy. They offer floatation tanks filled with Epsom salt water, providing a relaxing and stress-relieving experience in a sensory-reduced environment.
Summary
- Urban Float, a company offering sensory deprivation tanks, appeared on Shark Tank Season 10 seeking $500,000 for 5% equity.
- They secured a deal with Matt Higgins for $500,000 for 12.5% equity but ultimately did not finalize the deal.
- Despite not closing the deal with Higgins, Urban Float experienced increased brand awareness and franchise inquiries after the show.
- The company has faced challenges, including the COVID-19 pandemic and the closure of some locations.
- As of July 2024, Urban Float operates four locations with annual revenue of $2 million.
- They have expanded their offerings to include infrared saunas, BEMER therapy, and red light therapy.
Urban Float Shark Tank Update | Shark Tank Season 10
What is Urban Float?
Urban Float is a company specializing in float therapy. They provide a unique relaxation experience using sensory deprivation tanks filled with Epsom salt water.
These tanks allow customers to float effortlessly in a quiet, dark environment, free from external distractions.
This promotes deep relaxation, stress reduction, and even pain relief. Think of it as a reset button for your mind and body.
The Founders and Their Vision
Urban Float was founded by Scott Swerland and Joe Beaudry. Beaudry, a former Verizon Wireless executive, discovered the benefits of float therapy while seeking relief from work-related stress.
He teamed up with Swerland, an experienced entrepreneur with a background in the tanning salon industry, to bring this unique wellness concept to a wider audience.
Their vision was to create a spa-like environment where people could easily access the therapeutic benefits of floatation.
Urban Float on Shark Tank
1. The Pitch and Ask
| Entrepreneurs | Scott Swerland and Joe Beaudry |
|---|---|
| Business | Urban Float (Epsom salt floatation therapy) |
| Ask | $500,000 for 5% equity |
| Deal | $500,000 for 12.5% equity |
| Sharks | Matt Higgins |
| Season – Episode | Season 10 Episode 16 |
| Original Air Date | March 10, 2019 |
| Website | Urban Float |
| Key Points of Pitch |
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| Why Sharks Accepted |
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2. The Sharks’ Reactions
The Sharks were intrigued by the Urban Float concept, but some had reservations. Mark Cuban and Lori Greiner expressed concerns about the lack of a proprietary product and the potential for competition.
Daymond John was hesitant due to the company’s existing debt. Kevin O’Leary, always the shrewd businessman, made an offer that included a loan component with a high interest rate.
3. The Deal (or No Deal?)
Ultimately, Matt Higgins, a guest Shark with expertise in franchising and wellness, saw the potential in Urban Float.
He offered $500,000 for 12.5% equity, recognizing the value of the brand and its growth trajectory.
While Scott and Joe initially accepted the offer on the show, they later decided to decline the deal during the due diligence process.
Urban Float After Shark Tank
1. Growth and Expansion
Despite walking away from the Shark Tank deal, Urban Float experienced a surge in interest after their television appearance.
This led to a significant increase in brand awareness and a flood of franchise inquiries.
The company capitalized on this momentum, adding to their franchise development team and pushing forward with expansion plans.
They successfully opened new locations, expanding their reach beyond their initial Seattle base.
2. Challenges and Setbacks
Like many businesses, Urban Float faced its share of challenges. The COVID-19 pandemic had a significant impact on the wellness industry, and Urban Float was no exception.
They had to navigate temporary closures and adapt to new safety protocols, which likely affected their growth trajectory.
Additionally, some franchise locations, like the one in Ohio, unfortunately closed down.
3. Current Status and Revenue
As of July 2024, Urban Float operates four locations, with annual revenue reported at $2 million.
While this may seem like a step back from their earlier expansion, it’s important to remember the resilience businesses have needed in recent years.
To diversify their offerings and attract new customers, they’ve expanded their services beyond float therapy to include infrared saunas, BEMER pulsed electromagnetic field therapy, and red light therapy.
This demonstrates an adaptive business strategy focused on evolving customer needs within the wellness space.
Services Offered
1. Sensory Deprivation Tanks
Urban Float’s core offering revolves around their sensory deprivation tanks, also known as float pods.
These tanks are filled with a warm solution of Epsom salt water, creating an environment where you float effortlessly.
The experience is designed to minimize external stimuli, with the tanks being soundproof and lightproof. This allows for deep relaxation, stress reduction, and relief from muscle tension and pain.
2. Additional Therapies
Recognizing that wellness encompasses more than just floatation, Urban Float has diversified its services. They now offer:
- Infrared Saunas: These saunas use infrared heat to penetrate deep into the body, promoting detoxification, improved circulation, and pain relief.
- BEMER Therapy: BEMER uses pulsed electromagnetic fields to stimulate microcirculation, which can enhance cell function and overall well-being.
- Red Light Therapy: This therapy utilizes red and near-infrared light to stimulate cellular activity, potentially aiding in skin rejuvenation, wound healing, and pain management.
Franchise Opportunities
1. Investment Requirements
Urban Float offers franchise opportunities for those interested in joining the wellness industry. While the exact investment figures may vary, potential franchisees should expect the following:
- Franchise Fee: A one-time fee paid to Urban Float for the right to operate under their brand.
- Liquid Capital: A certain amount of readily available funds to cover initial operating costs.
- Net Worth: A minimum level of personal financial assets is typically required.
- Total Investment: This includes the franchise fee, startup costs, equipment, and initial operating capital.
It’s crucial for potential franchisees to carefully review the Franchise Disclosure Document provided by Urban Float for detailed information on investment requirements.
2. Franchisee Support
Urban Float provides comprehensive support to its franchisees, helping them establish and run a successful business.
This support typically includes:
- Training: Thorough training on Urban Float’s operating procedures, customer service standards, and marketing strategies.
- Site Selection: Assistance in finding a suitable location for the franchise.
- Marketing and Branding: Access to marketing materials and guidance on local marketing efforts.
- Ongoing Support: Continuous support from the Urban Float team, including operational guidance and troubleshooting.
Customer Reviews and Testimonials
Urban Float generally receives positive feedback from customers who have experienced their services. Many people report feeling deeply relaxed and rejuvenated after a float session.
Some highlight the benefits for pain management and stress reduction, while others appreciate the unique opportunity for introspection and mindfulness that sensory deprivation provides.
Here are some common themes found in customer reviews:
- Deep Relaxation: Customers frequently describe feeling a profound sense of relaxation and stress relief after floating.
- Pain Relief: Those with chronic pain or muscle tension often report experiencing significant pain reduction.
- Improved Sleep: Many individuals find that floating helps them achieve better sleep quality.
- Mental Clarity: Some users report enhanced mental clarity and focus after a float session.
- Unique Experience: Customers appreciate the novelty and uniqueness of the floatation experience.
Of course, individual experiences can vary, and it’s always a good idea to read a range of reviews to get a balanced perspective.
The Future of Urban Float
Urban Float appears to be navigating the challenges of the wellness industry with resilience and adaptability.
By diversifying their services and focusing on customer experience, they are positioning themselves to cater to a broader range of wellness needs.
Here are some potential areas of focus for Urban Float’s future:
- Continued Expansion: While the pace of expansion may have shifted, Urban Float likely maintains a goal of strategic growth, bringing their services to new markets.
- Enhancing the Customer Experience: Focusing on providing a premium customer experience, with personalized service and a relaxing atmosphere, will be key to attracting and retaining clients.
- Innovation in Wellness Services: Exploring and incorporating new wellness technologies and therapies could further enhance their offerings and attract a wider customer base.
- Community Building: Creating a sense of community among their clients, potentially through workshops, events, or online forums, could foster loyalty and brand advocacy.
By staying attuned to customer needs and industry trends, Urban Float seems poised to remain a significant player in the evolving wellness landscape.
FAQs
What should I expect during my first float?
Your first float can feel a little unusual as you adjust to the sensory deprivation. It’s normal to feel a bit restless at first. Just focus on your breathing and allow yourself to relax. The experience becomes easier and more enjoyable with each subsequent float.
What should I wear in the tank?
Most people float without clothing for the most comfortable and distraction-free experience. However, you are welcome to wear a swimsuit if you prefer.
Is it safe for everyone to float?
While floating is safe for most people, there are some exceptions. It’s best to avoid floating if you have epilepsy, open wounds, or certain infectious conditions. If you have any health concerns, it’s advisable to consult with your doctor before trying float therapy.
How often should I float?
The frequency of floating depends on your individual needs and goals. Some people benefit from weekly floats, while others find that monthly sessions are sufficient. It’s often recommended to start with a few sessions close together to experience the full benefits.
What are the benefits of Epsom salt?
Epsom salt is known for its ability to soothe sore muscles and reduce inflammation. It can also help to promote relaxation and improve sleep quality.
The Bottom Line
Urban Float offers a unique and potentially beneficial wellness experience. If you’re looking for a way to deeply relax, de-stress, and potentially alleviate pain, float therapy might be worth exploring. While the company has faced challenges, their commitment to customer experience and innovation suggests a positive outlook for the future. If you’re curious about floatation, consider checking out an Urban Float location near you.
