Company Background

Get ready to ‘Surf the Earth’ with the GolfBoard!  This is one of the most unique and fun products that we have ever written about on Pre-IPO buzz and you will see why below.  Co-created by legendary big wave surfer, Laird Hamilton, the GolfBoard is a new way to navigate your favorite golf course as if you were surfing, skating, or snowboarding across the greens.  So park that ‘traditional’ cart back at the clubhouse and check this out.

GolfBoard from GolfBoard on Vimeo.

While Laird Hamilton is enough to get any sports enthusiast excited about this project, there is another co-founder very worth mentioning.  Don Wildman is his name and he is the creator of Bally Total Fitness – a company he successfully grew to $1 billion.

How Does GolfBoard Work?

GolfBoard is personal mobility device directed toward golfers.  Wildman says that SOL (Surf-On-Land) Boards are designed to “allow golfers, or anyone who rides our boards, the opportunity to have the same sensation of snowboarding, but now in the summertime, on the golf course or anywhere someone wants to go.”  It’s the perfect way to add that little bit of excitement while searching for a ball or waiting for the group in front of you to find their ball.

The SOL GolfBoard is all-wheel-drive and surprisingly capable of navigating difficult terrain. It has a designed weight capacity of 400 lbs allowing nearly everyone the opportunity to ride and it can reach speeds of 12.5 miles per hour.  In order to keep you going through an entire 18 holes, the board houses two water-resistant lithium-ion batteries. Together, they take two hours to charge and have a range of roughly 18 miles (not to mention they have a lifetime of over 5 years).  The best part about these boards is minimal maintenance… even with daily operation. 

golfboard

The boards are controlled by the rider via a thumb throttle that allows acceleration and braking all in one place. A rear axle brake engages automatically when the board comes to a complete stop. Turning requires users to shift their body weight, much like with snowboarding or surfing.


The Future of GolfBoard

So far, there are 3,000 GolfBoards in use. You can find them on 275 golf courses across 11 countries – and they are positioned to grow even larger. The company boasts more than 150,000 followers on social media while GolfBoarding videos have over 70 million views. In addition, GolfBoards are good for greens. They weigh 65% less than the average golf cart, they offer 30% less turf impact, and they require less maintenance. Plus, GolfBoards can go everywhere that golf carts can’t, making for a more enjoyable game all around.

However, that really is just the beginning.

golfboard team

SOL Boards, the company behind the device, is looking to branch out. They are currently using their proprietary technology to push into the $15 billion electric scooter market while appealing to more active users. SOL recently introduced a BeachBoard and a ResortBoard – each one geared towards letting users traverse distances over natural terrain. BeachBoard is for going over sand while ResortBoard is designed for backcountry trails and ski slopes.

What Interested Investors Need to Know

GolfBoard has three patents on its technology and it has quite a few awards including the 2014 Best New Product award from the PGA Merchandise Show and the 2016 Editors’ Choice for Best Club Transport from GolfDigest.

awards

The boards cost $6,500 retail and they generate as much as $1,500 in rental revenue for the golf courses who feature them. So far, SOL Boards has been able to attract almost $2 million in equity financing and it is entering a new round of fundraising available only to accredited investors with a $2,500 minimum investment.

Personal transport devices are a novelty, but SOL Boards is circumventing the dangers of appealing to too small of a niche by targeting more golf courses and resorts over individuals. As such, it only needs the prove the value of its “surfing on land” products in terms of rental income and not the long-term value to an individual shopper. In addition, SOL Boards is offering an alternative to golf carts, not trying to create a new market. That should play well given the added versatility of its board products. Investors looking to capitalize on the resort and upscale sporting industry will not want to miss out on the SOL Boards opportunity and get into GolfBoards early.


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