Surfset Fitness Net Worth in 2025: Is the Brand Dead or Secretly Thriving Through Licenses?

When Surfset Fitness first hit Shark Tank, it instantly turned heads. A surf-inspired fitness system that brings the challenge of the ocean into a studio? It was a fresh, innovative concept. But a decade later, fans and industry watchers are left wondering: What happened to Surfset? Is it still in business or just a brand that briefly rode the Shark Tank wave?

In this article, we’ll get straight to the answers you’re searching for: Is Surfset Fitness still active in 2025? What’s its net worth today? Then, we’ll dive deep into the origin story, the Shark Tank boost, the peak years, the decline, and how parts of the brand are still riding the wave, quietly and independently.

Is Surfset Fitness Still in Business in 2025?

Technically, the original corporate entity is out of business, but the brand lives on.

PitchBook lists the company as “Out of Business” since March 2021, and founder Mike Hartwick reportedly left the company around the same time. However, Surfset-branded workouts continue to run in multiple studios under licensing agreements.

Studios like Surfset NYC are still actively teaching Surfset classes. These businesses operate independently, suggesting that while the core company may have shut down, the brand experience and products persist through licensed partners.

Current Net Worth of Surfset Fitness in 2025

Estimating the current net worth of Surfset Fitness in 2025 requires understanding how the brand operates today. While Pitchbook lists the original company as “Out of Business” since 2021, this status likely refers to the central business entity, not the overall brand presence. Today, Surfset Fitness appears to function through a licensing model, with independently owned studios like Surfset NYC and Surfset North Miami Beach still offering classes and using the RipSurfer X board.

Estimating Brand-Level Revenue

Let’s break it down based on reasonable assumptions from public data:

• At its peak (2015): Surfset reported $8 million in revenue across 250 locations in 19 countries.
• Now (2025): Based on closures (e.g., Surfset Singapore in 2022) and limited online activity, we estimate active Surfset studios at 15–20 globally, mainly in the U.S.

If each remaining studio earns approximately $100,000 to $150,000 annually (based on boutique fitness industry averages), that would place total brand-wide revenue between $1.5 million and $3 million per year.

Valuation Method

For privately held fitness studios or small licensed brands, a standard valuation uses a Revenue Multiple between 1.5x and 2.5x (depending on profitability, brand strength, and growth potential).

Let’s apply a mid-range multiplier of 2x to a conservative estimated revenue of $2 million:

Estimated Net Worth (2025) = $2 million x 2 = $4 million

Caveats and Considerations

• This estimate is brand-wide, assuming a loosely held licensing model with some consistency in operations.
• It excludes revenue from individual studio owners unless they pay a licensing fee or profit share to the brand holder.
• It does not reflect Mark Cuban’s current stake, as no updates confirm whether his investment is still active.

While Surfset Fitness is no longer operating as a centralized company, the brand’s survival through licensing agreements and existing studio revenues suggests an approximate net worth of $3–4 million in 2025 — lower than its 2015 peak, but far from dead.

The Surfset Origin Story: From Surfboard to Fitness Sensation

Surfset began as an idea born from surfing itself. Co-founder Mike Hartwick, a professional hockey player turned surfer, realized just how physically demanding and effective surfing was as a workout. But he also knew most people couldn’t surf every day.

So, Hartwick teamed up with fitness coach Sarah Ponn to bring the beach to the gym. Their innovation? A land-based surfboard, dubbed the RipSurfer X, that mimics the core-challenging instability of the ocean.

They launched Surfset in 2011 and quickly started gaining attention from the fitness industry and early adopters.

Shark Tank Deal That Changed Everything

The big break came on Shark Tank Season 4, Episode 2. Mike and Sarah pitched their business and wowed the Sharks by inviting Robert Herjavec to try the RipSurfer X board live on the set.

The Sharks loved it. While multiple offers came in, it was Mark Cuban who sealed the deal with $300,000 for 30% equity, doubling the original ask. His involvement gave the brand massive credibility and marketing momentum.

After the episode aired, interest in franchising and product sales exploded. The exposure helped take Surfset global.

By 2015: Peak Expansion and Partnerships

Between 2012 and 2015, Surfset reached its peak:

• A network of licensed locations across multiple countries.
• Collaborations with Under Armour and Garnier Fructis.

They had established training certifications, expanded studio networks, and made Surfset synonymous with fun, core-focused workouts. It looked like Surfset was poised to become a household fitness brand.

The Dropoff: Is Surfset Fitness Really ‘Out of Business’?

Despite the early success, things began to change:

• Founder Mike Hartwick left around 2021.
• Sarah Ponn remained involved with Surfset at least through 2022.
• Eventually, the original business entity went dark. No new filings, no active global website, and PitchBook marked the company “Out of Business.”

Still, multiple studios continued using the RipSurfer X and Surfset branding, leading to confusion. That’s because Surfset seems to have pivoted into a decentralized licensing model, allowing the concept to live on without a central company.

Meet the Studios Keeping Surfset Alive

Despite the official closure of the parent company, licensed Surfset studios are still thriving independently.

• Surfset NYC: Run by former master trainers Diana Garrett and Aaron Thouvenin, offering in-person classes, livestreams, and 2025 beach retreats.

These studios operate under separate LLCs or business names but maintain the Surfset identity, workouts, and equipment.

The RipSurfer X and Surfset Workout Explained

The RipSurfer X is the core product behind the brand. It’s a surfboard-like platform designed to allow for controlled instability, mimicking a real surfboard on water and engaging deep core muscles.

Surfset workouts combine cardio, strength, and balance, making them versatile and appealing to both beginners and elite athletes looking for balance and agility training.

Public Reaction: Is Surfset Still Worth It in 2025?

Feedback from customers continues to be positive, with users appreciating the unique, fun experience and full-body, low-impact intensity. Though Surfset may not dominate headlines, it retains a loyal following through local studios.

Lessons from Surfset: How a Brand Can Evolve Beyond Its Founders

Surfset shows how a brand can:

• Outlast the original company through licensing
• Thrive via passionate, local studio owners
• Maintain product relevance through smart design

Even without central leadership, Surfset evolved into a community-led fitness model, powered by trainers who believed in the concept.

Conclusion: So… Is Surfset Dead or Secretly Thriving?

The brand isn’t dead, it just changed form.

While the original Surfset Fitness may be defunct, its legacy lives on through decentralized studios, passionate trainers, and a cult-favorite workout. Surfset’s real success might not be in its corporate balance sheet, but in the communities it continues to serve, one wave-inspired workout at a time.