Summers are known for visiting beaches. They provide the perfect resort for a family to enjoy sunbathing and surfing with the waves. However, surfing can become easier and fun with a partner.
The Clark Family, the owners of Tandem Boogie, have the perfect surfboards for people who love to have somebody on their side while surfing. The board allows two people to use it at a time. It can also be fitted in a smaller bag to store it in the minimum space possible. Additionally, it is pumped to be used before surfing and it also has a camera connecting part to capture memories of the beach while surfing.
The family came on Shark Tank to request $100K for 10% of their company. They also invited Herjavec to try their board on the stage too. Let’s see what they are up to.
Tandem Boogie Net Worth Shark Tank Update
The Clark Family was looking for an investment of $100K in exchange for 10% equity in the company. At the time of the episode, they valued their company at $1 million. The Clark Family successfully secured a deal with Robert Herjavec and Daniel Lubetzky for an investment of $100K for 35% equity in the company. The investment adjusted the company’s net worth to around $286K. After the show was aired, the company experienced a good boost in exposure. As per my rough estimate, the current net worth of TANDM Surf in 2024 is around $3.5 million.
Shark(s) name
Offer & Demand
Counteroffer
Accepted?
Kevin O’Leary
Out
N\A
N\A
Mark Cuban
Out
N\A
N\A
Robert Herjavec + Daniel Lubetzky
$100K for 10% equity
$100K for 35% equity
Yes
Lori Greiner
Out
N\A
N\A
The Owners’ Backstory
Manya was originally from Iran. She came to the U.S.A. as a refugee and then got her Industrial engineering degree at 21 years of age. She was then working in a manufacturing corporation, so she knows how to make different products. On the other hand, her husband, John, was a salesperson. Initially, they started with a shelving business, which is still functioning and making a total of $1.5M in sales per year.
In the Clark Family, everyone is doing their job to make the business, Tandem Boogie, successful. Manya looks after manufacturing, operations, logistics, and the website. John is in charge of marketing and sales on social media. Juju is the CFO, Chief Fun Officer, of the business. She is also the creative director. Lyla looks after the merchandising and lastly, Alleana, who is the eldest of all, works on the community outreach for Tandem Boogie.
Initial Pitch
The owners came on the show to seek $100K for a 10% equity stake. They introduced their surfboard with a unique design to be used by two people at the same time. Their product also comes with a pump to make sure the board is suitable to be used before surfing. Their video demonstration highlighted how fun it is to use their surfboard on a lovely beach.
Daniel asked the first question regarding the manufacturing price of their boards. Manya replied that it costs around $150.
Then Kevin asked about the product’s selling rate. She answered that they were selling their boards for $459. John added that their product is unique because of the dynamic air design and they have also filed for patent.
Cuban wanted to know about the sales process of their product. Juju answered that due to the pandemic, they are selling their boards online. They also started a Kickstarter Campaign and in one month they made $43K in sales. Of the amount, $31K was from the Kickstarter Campaign.
Kevin highlighted that their surfboard rates are higher than the average boards in the market. Alleana pointed out that their boards can be used by two persons at a time, so it saves money instead of buying boards for every individual in a family.
Herjavec then inquired if they were selling their product through the market. John highlighted that they are selling the boards in four retailers already.
He also asked about their plans to use the $100K and the shark who will be investing in their business. John pointed out that they want to grow their product globally. They are hoping to open 25 accounts this year to make $300K in sales.
Shark’s Response and Final Decision
Cuban was the first shark out of the deal as he considered the business to be lacking in sales skills.
Lori praised the product but pointed out that she is not the best shark for them to invest in their product, leading to her backing out as well.
Kevin dropped the deal after Lori as he considers the water sports business to be tough.
Herjavec liked the idea of their patenting the product and decided to make an offer. He pitched $100K for a 35% equity stake along with the other guest shark, Daniel. Juju then counter-offered them $100K for 30% equity.
The sharks rejected their counter offer. However, the deal was finalized on $100K for 35% with both Herjavec and Daniel.
Our recent research on Tandem Boogie revealed that the company is still operational, now going by the name TANDM Surf. They have expanded their offerings to include not just boogie boards, but also surfboards, paddleboards, flippers, and more. They also have their apparel line.
For those in the Orange County, CA area, TANDM Surf has a shop where you can rent a board in person. If you’re not local, don’t worry—you have the option to rent one by mail, although shipping fees apply.
Thus, the Clark Family proved to be a success for the sharks. They got two sharks on their side on the show and in unity expanded their business further with more varieties of water sport products. The best part about their product is it can be checked before buying it through rent, affirming the reliability of their business.
Hey there, it’s Andaleb Youns. I am a freelance content writer and am currently pursuing a BS in English Language and Literature. I have expertise in writing Blog Posts, social media content, and copywriting. I know how it feels to be a student and still be dependent on parents to fulfill even basic daily needs. This realization became apparent while watching Shark Tank. Although I started watching this show out of boredom, it proved to be an inspirational show. The show made me realize the importance of hard work, being independent, and of having a business of my own. I still look forward to it for entertaining and inspirational content.
