Urban Float, the renowned provider of flotation therapy, made a memorable splash on the hit TV show Shark Tank in 2019. Since then, this innovative brand has charted an impressive course, navigating the exciting waters of expansion, unique membership offerings, and comprehensive wellness services. Let’s start with the Shark Tank update for the company, exploring its net worth in 2023 and the key factors that have propelled it to new heights of success.
Urban Float Shark Tank Update
During the due diligence process with Matt Higgins’ team following their appearance on Shark Tank, Scott, and Joe, the founders of Urban Float, decided to walk away from the deal. Despite the initial interest and investment offer, it ultimately determined it was not fit for the company’s long-term growth and vision. Later it secured a $600k investment from esteemed investors Lori Greiner and Robert Herjavec in exchange for 15% equity.
Now, armed with the shark’s expertise and capital, Urban Float has continued to make waves, cementing its position as a leader in the industry. Since then, it has experienced phenomenal growth and cemented its position as a leader in the industry.
Expansion and Strong Franchise Network
Urban Float’s dedication to expansion is evident in its impressive growth trajectory. The company operates four corporate locations in Greater Seattle, each serving as a serene haven for individuals seeking stress relief and pain management through flotation therapy. These locations have become popular destinations for customers looking to experience the profound benefits of floating in sensory deprivation pods filled with purified water and 1,200 pounds of Epsom salt.
In addition to the corporate locations, Urban Float has successfully established multiple franchise locations across the United States. This strategic move has allowed the brand to extend the accessibility of its unique services to a broader audience.
Despite the challenges presented by the COVID-19 pandemic, it remains committed to the growth of its franchise network. With plans to open new franchise locations, the brand continues demonstrating its unwavering dedication to making flotation therapy available to more communities.
Urban Float’s success can be attributed to its innovative approach to membership offerings. Unlike many competitors, it provides unlimited memberships, allowing members to float as often as they like for a fixed monthly fee. This unique membership model has set Urban Float apart in the industry, allowing customers to embrace flotation therapy’s benefits without any limitations fully.
The larger size of Urban Float’s newest stores compared to its competitors’ locations has created ample opportunities for guests to book appointments and float at their convenience, further enhancing the overall customer experience.
Unique Membership Model and Spacious Facilities
Urban Float has revolutionized the float therapy industry with its distinctive unlimited membership model. Unlike traditional centers that restrict the number of monthly floats, it offers its members the freedom to float as frequently as they desire for a fixed monthly fee. This groundbreaking approach has struck a chord with float therapy enthusiasts who value its flexibility and convenience. By eliminating the limitations, the brand empowers its members to fully embrace the numerous benefits of flotation therapy on their terms.
Recognizing the need to accommodate its ever-growing customer base, Urban Float has significantly invested in expanding its store spaces. The result is a series of spacious facilities that offer guests abundant opportunities to book appointments and enjoy floating at their convenience. The larger size of its stores sets it apart from its competitors, ensuring that customers can easily find available time slots that fit their schedules.
Combining the unique unlimited membership model with spacious facilities, Urban Float has emerged as a trailblazer in the float therapy industry. The brand’s ability to offer free-floating sessions and the convenience of larger store spaces position the brand at the forefront of the industry.
Comprehensive Wellness Services
Urban Float is dedicated to going above and beyond traditional flotation therapy by offering a comprehensive range of additional services designed to enhance overall well-being. The brand recognizes that wellness encompasses multiple dimensions and aims to provide a holistic approach to self-care. In addition to flotation therapy, it offers clients various services, including massage therapy, nutrition counseling, red light therapy, infrared sauna sessions, and BEMER therapy.
Urban Float caters to its clientele’s diverse needs and preferences by expanding its offerings beyond flotation therapy. Whether individuals seek physical relaxation, mental rejuvenation, or emotional balance, they can find a comprehensive suite of services under one roof at Urban Float. The inclusion of massage therapy allows guests to unwind further and release tension, while nutrition counseling supports their overall health and well-being.
Red light therapy offers benefits such as skin rejuvenation and pain relief, while infrared sauna sessions help detoxify the body and promote relaxation. BEMER therapy, known for its positive impact on circulation, complements the benefits of flotation therapy, creating a truly holistic experience for customers.
Recognition and Cultural Impact
Urban Float’s innovative concept and dedication to providing exceptional services have garnered recognition from highly regarded mainstream media outlets. Esteemed publications such as ESPN, Entrepreneur Magazine, TIME, and Men’s Journal have noticed its groundbreaking approach to flotation therapy. The acknowledgment from these reputable sources validates the brand’s innovation and strengthens its reputation as an industry leader.
Furthermore, the cultural impact of flotation therapy is exemplified by its portrayal in popular television programs. Shows like The Simpsons, The Big Bang Theory and Stranger Things have featured the unique concept of floating in sensory deprivation tanks, bringing the practice into the mainstream consciousness. These depictions have sparked curiosity among viewers and piqued interest in exploring the benefits of flotation therapy. Urban Float has contributed to this holistic wellness practice’s growing awareness and popularity by showcasing flotation therapy in widely watched television shows.
Through positive coverage and exposure, the brand has reached a wider audience and educated them about the benefits of flotation therapy. The media recognition and television features reinforce its position as an innovative brand and serve as valuable tools for spreading awareness and attracting new customers. As Urban Float continues to expand its reach, its presence in mainstream media and popular culture will undoubtedly play a crucial role in further establishing it as a leader in flotation therapy.
The subsequent expansion, unique membership model, various wellness services, and recognition from mainstream media outlets have solidified its position as an industry leader. Despite the challenges faced during the COVID-19 pandemic, it remains resolute in its commitment to growth, with plans to open new franchise locations. As Urban Float continues to flourish, it carries the torch of float therapy, bringing the benefits of stress relief, pain management, and holistic wellness to an ever-expanding community.
Urban Float Net Worth
As of 2023, its net worth is around $3 million. The company has been doing well and staying consistent since its appearance on Shark Tank, securing investments and expanding its franchise network. With a steady annual revenue of $1 million and a growing number of franchises, its financial condition is poised to soar.
The company charges a 7.5% royalty fee per franchise, contributing to its revenue stream. With over a few dozen franchisees being set up, it will strengthen its financial growth shortly.
Is Urban Float Still in Business?
Yes, Urban Float is still in business and continues to thrive in the flotation therapy industry. With its impressive growth trajectory, expansion of franchise locations, unique membership model, and comprehensive wellness services, it has solidified its position as a leader in the industry.
Despite the challenges posed by the COVID-19 pandemic, the company remains committed to its growth plans, demonstrating its unwavering dedication to making flotation therapy accessible to more communities. As it continues to flourish, it carries the torch of float therapy, bringing stress relief, pain management, and holistic wellness to an ever-expanding community.
What does Urban Float do?
Urban Float is a renowned provider of flotation therapy, also known as sensory deprivation therapy or isolation tank therapy. They offer individuals the opportunity to experience deep relaxation and stress relief by immersing themselves in sensory deprivation pods filled with purified water and Epsom salt.
Who is the founder of Urban Float?
The founders of Urban Float are Joe Beaudry and Scott Swerland. They are the entrepreneurs who established and built the company, bringing the concept of flotation therapy to the forefront of the wellness industry. Their vision and dedication have played a significant role in the success and growth of Urban Float.
Who are the competitors of Urban Float?
While Urban Float stands out with its unique approach to flotation therapy, other companies in the market offer similar services. Some competitors in the float therapy industry include Chill Space Float Tanks, True REST Float Therapy, and Sensory Deprivation Tanks.
What are some of the benefits of Urban Float for health?
Urban Float offers a range of health benefits through its flotation therapy sessions. By immersing themselves in a sensory deprivation tank filled with Epsom salt-infused water, individuals can experience stress relief, reduced pain and inflammation, improved sleep quality, enhanced mental clarity and relaxation, and accelerated physical recovery.