The original idea of skateboarding is to make the board seem like a surf board but it didn't work that well. That's where Hamboards come in. Gus Hamborg left his board out and his mother backed over the board. Gus got on the board after that, and it felt like a surfboard.
The trucks were modified so the board turned better. Hamboards launched as people around Huntington Beach wanted to buy their boards from them. They started building boards in their garage after Pete Hamborg figured out how to build their trucks.
Pete isn't a businessman, he is a fireman, and they hooked up with Donnie who manages the company, while it is growing out from underneath them. Donnie invented Neverflat balls for Spaulding
Sales for the last twelve months, they are at $225,000 and they expect to hit $350,000 for the year as of the pitch. They have design patents. Everything is manufactured in Huntington Beach.
Hamboards are also using the land paddle.
Hamboards Episode Data
- Company: Hamboards
- Entrepreneurs: Gus Hamborg, Pete Hamborg, and Donnie Sandusky
- Ask: $100,000 for 15% equity
- Episode Season 5 Episode 504
- Companies in this episode:
- Mark Cuban
- Daymond John
- Kevin O'Leary
- Lori Greiner
- Robert Herjavec
- First Aired: 10/11/2013
- Deal: Robert Herjavec for 30% equity
What do the Shark Tank Investors say about Hamboards?
- Mark Cuban – tells them just saying land surfing isn't good enough. Mark is interested with the paddle board, but they aren't promoting that. he is out.
- Daymond John – wants to license the Hamboard and offers $100,000 for 30% equity. He is out.
- Kevin O'Leary – believes there is a large skateboard industry. They needed to have bigger sales and a path to use his money to pour gasoline on it. He is out.
- Lori Greiner – feels that Hamboards are regional. She is out.
- Robert Herjavec – does not see Hamboard as a licensing thing today, they are selling the California dream. Robert thinks a larger percentage of his market is guys like him, who want to be a surfer. He feels they need more money and a bigger partner. He offers $300,000 for 33.3%. Donnie counters at 30%, and they have a deal.
Hamboards after Shark Tank
The year following their Shark Tank episode produced one million dollars in sales. They did the Beyond the Tank episode where they found four of their products are responsible for eight-five percent of their revenue.