Urban Float Net Worth: How Rich is This Floatation Therapy Company?

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In the world of wellness and relaxation, Urban Float has made waves with a net worth estimated to be between $1 and $3 million in 2023.

Founded in 2012 by Joe Beaudry and Scott Swerland, this unique floatation therapy spa has expanded its presence to multiple locations across the United States.

In addition to a breakdown of its net worth and the founder’s vision, in this update, you’ll also find details about this company’s journey and remarkable success, including the services they offer at select locations.

What is the Net Worth of Urban Float? 

Urban Float’s estimated net worth is approximately $3 million as of 2023. Co-founder Scott Swerland’s mentioned the company did $1 million in sales in 2018 during their appearance on Shark Tank episode 1013, where the company was valued at $4 million after deal with Matt Higgins. It’s important to note that they also had a similar amount in debts at that time, which impacts the net worth calculation.

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Urban Float co-founders and a Shark on the 1013 episode of Shark Tank in 2019.

Since 2018, Urban Float has experienced substantial growth and expansion (did more than $2 million in sales in 2019), opening multiple locations across various states, including Seattle, Tacoma, Vancouver, Ohio, Texas, and Delaware (follow this link for complete list of store locations and direction).

However, several factors have influenced their net worth:

  • Cost of Franchise Expansion: Opening a new Urban Float franchise can be expensive, with costs as high as $500,000. This expenditure affects their overall financial situation.
  • Impact of COVID-19: The COVID-19 pandemic may have slowed down their expansion plans and impacted their financial performance, as many businesses in the wellness industry faced challenges during the pandemic.
  • Shark Tank Deal: While they secured a deal with Shark Matt Higgins on the show, worth around $500,000 for a 12.5% equity stake, it fell through at the due diligence stage.
  • Uncertainty in Valuation: Urban Float’s exact net worth remains uncertain due to varying reports from different sources. This makes it challenging to determine their precise financial standing.

Due to the complexities and uncertainties in their financial situation, the quoted figure of $1 million should be considered an estimate and used for informational purposes only. Urban Float’s net worth is subject to fluctuations based on various factors, and obtaining accurate numbers can be challenging in the absence of publicly available financial statements.

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Quick Facts

Information Details
Business NameUrban Float
ServicesFloating, red light therapy, infrared sauna, wellness pod, bemer therapy, bio-electromagnetic energy regulation therapy, halotherapy (for lung issues), and compression therapy
Business Status Operating
IndustryHealth & Wellness
Company TypePrivate
Headquarters in727 N. 10th St., Suite B, Renton, WA 98057, USA
Founded byJoe Beaudry and Scott Swerland
Founded in2012
Websiteshttps://www.urbanfloat.com/
Emailinfo@urbanfloat.com
Twitterhttps://twitter.com/urbanfloat
YouTube https://m.youtube.com/@Urbanfloat
Facebookhttps://m.facebook.com/UrbanFloat
LinkedInhttps://www.linkedin.com/company/urban-float
Top CompetitorsZennor Den & $6 Million, The Spa & Wellness Centre, Pain and Wellness Centre, Mudra Massage, Floatworks

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What is Urban Float?

Urban Float, founded in 2012 by entrepreneurs Joe Beaudry and Scott Swerland, specializes in floatation therapy. They offer a unique wellness experience where clients float in sensory deprivation pods filled with warm water and Epsom salts. This therapy is designed to alleviate stress, treat joint pains, and enhance mental and physical well-being.

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A woman lays in one of Urban Float’s sensory deprivation pods.

Urban Float’s services include floatation therapy, red & near-infrared light therapy, full-dpectrum light & chromotherapy, bio-electromagnetic energy regulation therapy, halotherapy (for lung issues), and Normatec compression therapy. Their goal is to provide clients with a range of wellness treatments to help them relax, rejuvenate, and achieve their health and wellness goals.

Founded in Seattle, Washington, Urban Float has expanded its presence to multiple locations across various states, offering these unique wellness experiences to a growing customer base.

For more information, you can visit their website at Urban Float.

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Who are the Founders of Urban Float? 

Joe Beaudry_and_Scott Swerland
Joe Beaudry and Scott Swerland, co-founders of Urban Float.

Urban Float was founded by Joe Beaudry and Scott Swerland in 2012. Joe Beaudry was inspired to explore floatation therapy as a means to enhance focus, memory, and stress relief. He initiated trials of floating tanks and later partnered with Scott Swerland, a serial entrepreneur who also experienced the benefits of floating.

Scott Swerland joined Joe Beaudry in launching Urban Float in 2013, and together, they revolutionized the floatation therapy industry.

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Joe Beaudry posing with one of his company’s float tanks

While specific financial details about their personal net worth aren’t available, their income likely comes from their ownership stakes in Urban Float, which has shown consistent growth. Both founders are committed to promoting floatation therapy for relaxation, pain relief, and overall well-being, contributing to the company’s success and expansion.

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Conclusion

Urban Float’s net worth, estimated to be between $1 and $3 million, speaks volumes about their growth and dedication to wellness.

Founded in 2012 by Joe Beaudry and Scott Swerland, they’ve emerged as leaders in floatation therapy.

With multiple locations across the U.S., their journey exemplifies innovation and resilience in pursuit of relaxation and well-being.