MountainFlow Eco-Wax Before Shark Tank
MountainFlow Eco-Wax is a company that manufactures a plant-based, environmentally safe wax for skis and snowboards. Their wax is available in three forms: quick wax, hot wax, and skin wax rub-on. MountainFlow Eco-Wax is used on skis and snowboards in order to create friction while in the snow to ensure they glide smoothly. While not all skiers and snowboarders use wax, it does improve the overall performance and helps the individual be able to turn and stop easier. Once applied, the hot wax will remain on the ski or snowboard for up to four or six days, while the quick wax and skin wax only last a day. Many other brands of wax are made up of things like petroleum, carbon, and hydrogen, whereas MountainFlow Eco-Wax consists of 0% petroleum and other harmful chemicals. Thus, making this wax non-toxic.
Peter Arlein founded and launched MountainFlow Eco-Wax in 2016 with the determination to improve skiing and snowboarding without harming the environment. Growing up in Carbondale, California, and working as a ski instructor throughout high school, brought Peter closer to the world of skiing. While working as an instructor, he learned how toxic the standard waxes are for the environment, which led him to search for environmentally safe alternatives. To his surprise, there were none on the market. Prior to starting this business, Peter received his master’s degree in business administration from the University of Alaska Anchorage and worked as an account coordinator at Schiedermayer Alaska Inc. After leaving that position, the founder spent the next six years at a few different companies. Some of those companies were FASTG8 Inc., Kodiak Jig Seafoods, and Alaska Communications.
In 2016, while he was still working at FASTG8 Inc. in client strategy, Peter started the MountainFlow Eco-Wax business. After realizing how rare it was to find an eco-friendly wax, he decided to create one himself. Thus, introducing MountainFlow Eco-Wax. In 2017, he did tests to see how well the plant-based waxes would work. After two years and more than 200 recipe adjustments, Peter and his team had successfully created an eco-wax that still works great without harming the skis, snowboards, or environment. His wax is USDA biobased certified, as well as certified by B Corporation.
Peter kicked off his business launch with a Kickstarter campaign shortly after launching MountainFlow Eco-Wax. This campaign gained him about 358 backers and raised his business about $21,506. In addition to the money raised from the campaign, MountainFlow Eco-Wax took part in Denver’s 2020 Outdoor Retailer Show and won multiple awards. Some of those include the Outdoor Retailer Innovation Award, the Best New Gear Award, the Gear of the Show Award, and the Best of Outdoor Retailer Award. Based on this, it’s safe to say that Peter has certainly achieved getting the word out about his eco-wax. Nonetheless, he is hoping for a sharks help with his next few steps in business.
MountainFlow Eco-Wax on Shark Tank
Peter Arlein appeared on Shark Tank seeking a deal of $250,000 in return for a 10% ownership stake in his business, MountainFlow Eco-Wax. His asking price implies that his business is worth about $2.5 million at the time of filming. Peter tells the sharks about himself and his story before showing them his plant-based wax for skis and snowboards. Given how well his pitch went, it’s no surprise that the sharks were impressed by this product. The founder then shares his sales data with the investors. He mentions that the eco-wax costs him $2.50 to make and retails for $16. Peter did $150,000 in sales in 2020, and he thinks he will reach $750,000 in sales by the end of 2021. He reveals that he wants a shark’s help with expanding his business internationally. He also has plans to launch new products soon.
Lori Greiner spoke up first, letting Peter know that she liked the MountainFlow Eco-Wax since it is good for the environment and because it is innovative. However, she won’t be investing it due to her lack of knowledge in this market. Mark Cuban was in the same boat as Lori, as he has never skied before; therefore, he is out as well. Barbara Corcoran, on the other hand, is interested in investing in this eco-wax for $250,000 in exchange for 20% ownership of the business. This is when Kevin O’Leary chimes in and offers Peter a deal of $250,000 in exchange for 15% ownership. Kevin has skied before. Ultimately, after some debate, Barbara and Kevin decide to go in on the offer together for a 20% ownership in the business.
Daymond John decides to invest in the wax as well. He offers Peter $250,000 in exchange for 25% ownership, which the founder chooses to turn down due to the high equity. He then tries to counter Barbara and Kevin for a 15% ownership; however, the sharks counter with a 17.5% equity. Peter chooses to counter once more for a 16% equity, which leads the sharks to adjust their offer to $300,000 in exchange for a 20% ownership stake in MountainFlow Eco-Wax. Peter accepts their offer and enters into an agreement with Barbara and Kevin.
MountainFlow Eco-Wax Now in 2023 – The After Shark Tank Update
As of January [this year], MountainFlow Eco-Wax is still in business, and business seems to be going well for the founder, Peter Arlein. In fact, this eco-wax is used by many celebrity skiers, such as Jeff Cricco, Victor Delerue, Christian Pondella, Colby Stevenson, and Colby Davenport, among others. The business is also in partnerships now with High Fives, the American Avalanche Institute, Winter Wildlands, and Pow Protect Our Winter. Currently, there has been no mention regarding whether the deal made with Barbara Corcoran and Kevin O’Leary has been closed or not. Since the Shark Tank episode concluded, Peter has added a few new items to his line, such as bamboo bike brushes, race wax, bike lube, and aluminum ski poles. As it stands, MountainFlow Eco-Wax is available for between $16 and $20 on Amazon and the company website.