What Happened To Boho Camper Vans From Shark Tank Season 11?
Friends David Sodemann and Brett Ellenson appeared on an episode of "Shark Tank" in 2020, trying to gain a partner for Boho Camper Vans. The pair explained their idea of converted camper vans to the sharks, and they immediately started getting nibbles. Mark Cuban was out first, but guest shark Rohan Oza, Kevin O'Leary, Barbara Corcoran, and Lori Greiner were all on the hook. The friends revealed in their pitch it takes just $20,000 to make the van, and then they can rent it out for $200 a night.
The duo came up with the idea of selling camper vans in 2018. They felt starting up the company in Arizona would be a slam dunk, and they decided to take an unconventional route to make it happen. Sodermann and Ellenson opened a credit card with the largest limit available to buy a van which would then be converted into a camper. The idea was to make enough money from renting it to cover their cost, and they did that in just a few months.
What happened to Boho Camper Vans on Shark Tank?
Boho Camper Vans were featured on "Shark Tank" in Season 11, and the pair partnered with Barbara Corcoran. They received $150,000 in cash and $150,000 as a line of credit in exchange for 10% equity. The two friends were hoping for $300,000 in exchange for a 10% stake in the company, and they weighed offers from O'Leary, Oza, and Greiner before settling with Corcoran's offer, which gave them exactly what they wanted.
O'Leary offered $300,000 as a loan with 9% interest for 7% of equity, Oza offered $300,000 for 25% of the company, Griener put $300,000 on the table for 20% equity, and the pair tried to get her to drop to 15% equity for the same price. After Griener declined the offer, Sodeemann and Ellenson went with Corcoran.
"Barbara was a perfect fit for us because she knew we didn't want any debt, and she gave us a way to pay it off quickly," Ellenson said upon striking a deal with Corcoran.
Boho Camper Vans after Shark Tank
The company used its appearance on "Shark Tank" to hit the ground running. An update during Season 12, Episode 13 of the show revealed 2020 rentals didn't do as well as the founders hoped. Of course, 2020 was the height of the COVID-19 pandemic, so it makes sense sales didn't meet the initial expectations.
"The start of the pandemic was bittersweet," the founders said in the update. "Right away, we had our two busiest months completely canceled on the rental side. We were losing thousands of dollars a day. We weren't sure where the business was going to go."
In eight months following their appearance on "Shark Tank," Boho Camper Vans brought in $1.4 million in sales and an additional $1 million in presales. According to the company's Instagram page, they moved into a new shop, expanded their team, and donated vans to first responders.
Is Boho Camper Vans still in business?
Despite the rough goings in the pandemic, Boho Camper Vans is still very much in business. Things are going so well for the company that it boasts on its website that it's one of the world's largest camper van manufacturing facilities. The company is sitting at a perfect 5.0 score on Google with 269 reviews, so it's clear customers are happy with its direction. The team is now much bigger than just the two friends. According to the company website, there are now 27 total employees, counting Corcoran as a partner.
As people leave the house more after the pandemic, it looks like the rough patch is now behind Boho Camper Vans. With glamping, a more luxurious camping style that is becoming increasingly popular, it makes sense that Boho would be able to capitalize on the trend. Many companies are trying to get a piece of that pie, but Boho has the head start.
What's next for Boho Camper Vans?
With options to buy and rent a van, Boho Camper Vans has grown from just offering rentals. You can pick up a used camper van, either a retired one from the fleet or a build-for-sale from a past client. The retired options are sold directly from Boho, so you'll need to pick them up in Arizona. You might be able to get lucky and find one closer to you that's for sale by the owner.
The campers can now be equipped with far more luxury options, such as ordering appliances like a fridge, freezer, or air conditioner with your build. There are five total builds to choose from for the vans, and you can develop your own ideas if you want more customization. The Boho Lite is the cheapest option, starting at $10,075, but more luxurious options will more than quadruple the price.