What happened to Sproing Fitness after appearing on Shark Tank Season 10? Sproing Fitness, the company that pitched its low-impact treadmill-based fitness studios on Shark Tank Season 10, did not secure a deal with the Sharks. However, the company has continued to operate and expand, with five studio locations across the United States and a growing annual revenue. They have also focused on selling their innovative treadmills to other fitness facilities and rehabilitation centers.
Summary
- Sproing Fitness, founded by Paul Toback and Steve Lenz, appeared on Shark Tank Season 10 seeking $500,000 for 8% equity.
- They showcased their unique treadmills with air cushions and bungee cords designed to reduce impact and simulate natural running posture.
- The Sharks declined to invest due to concerns about price, scalability, and the business model.
- Despite not getting a deal, Sproing Fitness has continued to grow, with five studio locations and over $12 million in annual revenue.
- They have also expanded their sales to other fitness facilities and rehabilitation centers.
Sproing Fitness Shark Tank Update | Shark Tank Season 10
Sproing Fitness made its debut on Season 10 of Shark Tank, aiming to revolutionize the fitness world with its unique approach to treadmills and high-intensity interval training (HIIT).
Founders Paul Toback and Steve Lenz presented their innovative fitness studios and specialized treadmills, hoping to secure an investment from the Sharks.
While their energetic pitch and compelling product demonstration caught the Sharks’ attention, ultimately, Sproing Fitness left the Tank without a deal.
What Makes Sproing Fitness Unique?
Sproing Fitness stands out from traditional gyms by offering a low-impact, high-intensity workout experience.
Their custom-designed treadmills feature air cushions and bungee cords that absorb shock and promote a natural running posture, reducing strain on joints.
This design makes their equipment appealing to both serious runners and those seeking a gentler, more comfortable workout.
Furthermore, Sproing Fitness studios incorporate these treadmills into dynamic HIIT classes, providing a challenging and effective fitness program.
Sproing Fitness Pitch on Shark Tank
1. The Pitch
| Entrepreneurs | Paul Toback and Steve Lenz |
|---|---|
| Business | Fitness studios with low-impact treadmills and HIIT classes |
| Ask | $500,000 for 8% equity |
| Deal | No deal |
| Sharks | Mark Cuban, Lori Greiner, Daymond John, Robert Herjavec, Kevin O’Leary |
| Season – Episode | Season 10, Episode 8 |
| Original Air Date | December 2, 2018 |
| Website | Sproing Fitness |
| Key Points of Pitch |
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| Why Sharks Declined |
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2. The Founders and Their Ask
Paul Toback, a former CEO of Bally Total Fitness, and Steve Lenz, an experienced runner, came together to address a common problem: the high injury rate among runners, often caused by traditional treadmills.
They sought $500,000 in exchange for 8% of their company, valuing Sproing Fitness at $6.25 million.
This investment would primarily fuel their expansion plans, allowing them to open more studios and increase their market reach.
3. The Sharks’ Concerns
Despite acknowledging the uniqueness of the Sproing Fitness treadmills, the Sharks expressed several reservations.
The high cost of the equipment ($6,499 per unit) raised concerns about affordability and market appeal.
Some Sharks questioned the scalability of the business model, wondering if it could compete with larger fitness chains or boutique studios.
Others felt the fitness industry was already saturated, making it difficult for Sproing Fitness to stand out and achieve significant growth.
4. The Outcome: No Deal
Ultimately, none of the Sharks were willing to invest in Sproing Fitness. They cited concerns about the company’s valuation, the competitive landscape, and the overall potential for return on investment.
While the founders left the Tank without a deal, their appearance on Shark Tank provided valuable exposure for their brand and innovative fitness concept.
Sproing Fitness Update
1. Continued Growth and Expansion
Despite not securing a deal on Shark Tank, Sproing Fitness has continued to grow.
They have maintained their five studio locations across the United States, offering their signature HIIT classes and unique fitness experience.
This steady presence suggests a loyal customer base and a sustainable business model.
2. Focus on Sales to Other Facilities
In addition to their own studios, Sproing Fitness has focused on selling their specialized treadmills to other fitness facilities. This includes gyms, rehabilitation centers, and physical therapy clinics.
By expanding their reach beyond their own studios, they’ve created an additional revenue stream and broadened their impact on the fitness industry.
3. Financial Performance
While exact figures are not publicly available, reports indicate that Sproing Fitness is generating significant annual revenue.
Estimates suggest they bring in over $12 million per year across their studios and equipment sales.
This demonstrates that they have successfully navigated the challenges of the fitness industry and built a profitable business.
They even managed to weather the difficulties of the COVID-19 pandemic, which forced many fitness studios to close.
This resilience speaks to the strength of their brand and the appeal of their unique fitness offering.
The Sproing Fitness Treadmill
1. Technology and Benefits
What sets the Sproing Fitness treadmill apart is its innovative design. Instead of a traditional belt, it features a soft, trampoline-like surface composed of individual air cushions. This provides a lower-impact running experience, reducing stress on joints and minimizing the risk of injury.
Furthermore, the treadmill incorporates a bungee cord system that attaches to the runner’s waist. This system allows runners to lean forward into their stride, mimicking a more natural running posture. This can help improve form and further reduce strain on the back and knees.
The combination of these features makes the Sproing Fitness treadmill a unique and potentially beneficial tool for runners of all levels. It offers a comfortable and supportive workout experience while promoting proper running technique.
2. Target Audience
The Sproing Fitness treadmill has a broad appeal, targeting a wide range of individuals.
- Runners: Both casual and serious runners can benefit from the low-impact design and posture-enhancing features. It can be particularly helpful for those recovering from injuries or seeking to prevent them.
- Rehabilitation: The gentle nature of the treadmill makes it suitable for use in rehabilitation settings. It can aid in recovery from injuries and surgeries, allowing individuals to regain strength and mobility safely.
- Fitness Enthusiasts: Anyone seeking a unique and effective cardio workout can enjoy the Sproing Fitness treadmill. It can be incorporated into HIIT routines, adding variety and challenge to training programs.
- Older Adults: The reduced impact and supportive design can make exercise more accessible and comfortable for older adults, helping them maintain fitness and mobility.
Overall, the Sproing Fitness treadmill caters to individuals who prioritize comfort, safety, and proper form during their workouts.
Sproing Fitness Studios
1. Locations and Expansion Plans
Sproing Fitness currently operates five studios across the United States. These are located in:
- Maryland: Two locations, one in Urbana and one in Columbia.
- Illinois: One location in Chicago.
- Texas: One location in Houston.
- California: One location in Hollywood.
While they haven’t rapidly expanded their studio footprint since appearing on Shark Tank, their continued operation in these diverse locations suggests a strategic approach to growth.
They seem to be focusing on establishing a strong presence in key markets rather than pursuing rapid, widespread expansion.
2. High-Intensity Interval Training (HIIT)
Sproing Fitness studios center their classes around high-intensity interval training (HIIT). This popular workout style alternates between short bursts of intense exercise and brief recovery periods.
HIIT is known for its efficiency, burning a high number of calories in a short amount of time. It also offers a variety of other benefits, including improved cardiovascular health, increased metabolism, and enhanced muscle definition.
By incorporating their unique treadmills into HIIT workouts, Sproing Fitness provides a challenging and engaging fitness experience. The low-impact nature of the treadmills allows participants to push themselves during high-intensity intervals without excessive strain on their joints.
3. The Sproing Fitness Experience
Sproing Fitness aims to create a welcoming and motivating environment for its members. Their studios are typically equipped with a variety of exercise equipment in addition to their signature treadmills, allowing for diverse and comprehensive workouts.
Their instructors are trained to guide participants through effective and enjoyable HIIT sessions, providing encouragement and modifications as needed.
The emphasis on low-impact exercise and proper form creates an inclusive atmosphere where people of all fitness levels can feel comfortable and supported.
Future of Sproing Fitness
Sproing Fitness appears to be on a path of sustainable growth. Although they didn’t secure a Shark Tank deal, they have leveraged their appearance on the show to gain brand recognition and attract customers.
Their focus on selling their treadmills to other facilities provides a promising avenue for expansion and increased revenue. As they continue to innovate and refine their offerings, they have the potential to become a significant player in the fitness industry.
Their commitment to low-impact, high-intensity exercise addresses a growing demand for fitness options that are both effective and safe. By continuing to prioritize customer experience and product quality, Sproing Fitness is well-positioned for continued success in the years to come.
FAQs
Where are Sproing Fitness studios located?
Sproing Fitness has five studios. They have two in Maryland, and one each in Illinois, Texas, and California.
How much does a Sproing Fitness treadmill cost?
While exact pricing may vary, Sproing Fitness treadmills are designed for commercial use and have been priced around $6,500 in the past.
What is the price of a Sproing Fitness class?
Class pricing varies by location and membership package. It’s best to contact your local Sproing Fitness studio for specific details.
What are the benefits of using a Sproing Fitness treadmill?
Sproing Fitness treadmills offer a low-impact workout that reduces stress on joints. They also promote a natural running posture, which can help prevent injuries. The treadmills are incorporated into HIIT classes, providing an effective and efficient workout.
The Bottom Line
Sproing Fitness presents a unique approach to fitness, combining innovative treadmill technology with high-intensity interval training. While they didn’t secure a deal on Shark Tank, they have continued to grow and thrive. Their focus on low-impact exercise, combined with a motivating studio environment, has resonated with customers.
By strategically expanding their business and focusing on product quality, Sproing Fitness has demonstrated its potential for long-term success. They offer a compelling fitness solution for those seeking a challenging yet safe and effective workout experience.
