A company started by an 11 year-old named Carson, an avid surfer and skateboarder that has created a series of skateboards that can fit in a locker. He appeared on the pitch with his mother. The company is located in San Clemente, CA.
The product is handmade from recycled skateboards and only 16 inches long so as to fit inside lockers. It is the only skateboard that "fits inside a backback." But its size was not limiting and Carson could still do tricks because of corners. There is a patent pending on the board.
The materials for the boards are acquired from the Vans recycling program.
The product has been selling for nine months through social media. 231 total items sold. Carson wants to move deeper into retail sales. The product is currently sold in two Southern California retailers (Jack’s surfboards).
Wholesale price for the Locker board is $52/unit and retails for $99/unit retail. The board itself is manufactured by Madrid Skateboards though Carson finishes with trucks and wheels.
Carson is pitching his company to the sharks to get the necessary investment to upgrade the website and begin buying equipment and materials in bulk.
Making A Deal
Carson made a deal with Sir Richard Branson because of his international appeal. Rather than taking just the 15% on offer, Sir Richard offered $5,000 more and took an additional 5% of the company resulting in a $75,000 bite to the valuation.
In an update barely worth the name in Episode 10.08, the young entrepreneur behind Locker board stated that the business had grown 300% since appearing in the tank and that the product was now sold on Amazon. Wow.
On his personal blog, Sir Richard doubled down in the 300% growth claim. In addition, he stated that Wham-O secured a deal with Locker Board in February 2020 to license the unique gadget. Not just that but Wham-O also licensed another fun ride created by the entrepreneur called "Streetubez" that is being projected to be put on sale in the fall or winter of 2021. Lastly, Sir Richard stated the entrepreneur had given a TEDx Talk. So... plenty happening with Locker Board!
- Richard Branson's Blog, "Three years on from Shark Tank", published October 26th, 2020.