GolfBoard by Sol Boards, Inc.

Surf the Earth!

GolfBoard by Sol Boards, Inc.

Surf the Earth!

Bend, OR
Transportation
GolfBoard is a single rider, all-wheel-drive electric vehicle designed to liven up a round of golf. By both speeding up the game and allowing users to enjoy a surf-like experience, GolfBoard is bringing much-needed innovation to the golf industry.

$173,705

raised
171
Investors
$11M
Valuation
$1.25
Price per Share
$250.00
Min. Investment
Common
Shares Offered
Equity
Offering Type
$250K
Offering Max
Reg CF
Offering

$173,705

raised
171
Investors
$11M
Valuation
$1.25
Price per Share
$250.00
Min. Investment
Common
Shares Offered
Equity
Offering Type
$250K
Offering Max
Reg CF
Offering

Bonus Rewards

Get rewarded for investing more into GolfBoard by Sol Boards, Inc.

$250+
Investment
StartEngine Owner’s Bonus
This offering is eligible for the StartEngine Owner’s 10% Bonus program. For details on this program, please see the Offering Summary section below.
$1,000+
Investment
Bronze Tier
Invest $1,000 and surf the earth with 2 free Golfboard 18-hole day passes.
$2,500+
Investment
Silver Tier
Invest $2,500 and surf the earth with 4 free Golfboard 18-hole day passes.
$5,000+
Investment
Gold Tier
Invest $5,000 and receive $500 off your own Golfboard plus 4 free Golfboard 18-hole day passes.
$10,000+
Investment
Platinum Tier
Invest $10,000 and receive $1,000 off your own Golfboard plus 4 free Golfboard 18-hole day passes.
$25,000+
Investment
GolfBoard
Invest $25,000 and receive a free GolfBoard.
$50,000+
Investment
SportBoard
Invest $50,000 and receive a free SportBoard with rear fender cooler plus sand and seed bottle.
$75,000+
Investment
GolfBoard Pro
Invest $75,000 and receive a free GolfBoard Pro with rear fender cooler plus sand and seed bottle.
$100,000+
Investment
GolfBoard Pro Graphite
Invest $100,000 and receive free customized GolfBoard Pro with graphite fenders and seat cooler system.

Reasons to Invest

Co-Founded by fitness Icon Don Wildman, Laird Superfood CEO Paul Hodge, and electric vehicle guru Star Faraon, GolfBoard has quickly achieved global brand recognition.
Golf is in dire need of an industry-disrupting change in order to reclaim market share of the much sought-after younger millennial crowd who are looking for a more up-paced style of play.
With $16.5M in sales, we have deployed 3K units in 7 countries with over 129K registered riders enjoying over 1M rounds to date.

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Overview


Reinventing the golf experience

We’re GolfBoard, the people bringing a new, exciting advancement to the game of golf. With our single-rider device, we help golfers have more fun while they speed up and add excitement to their rounds, and provide courses a brand new way to attract new paying customers. 

GolfBoard has proven to be popular for players of all ages — with over 32% of users coming from the over 50 demographic — and has piqued the interest of golfers worldwide thanks to viral videos viewed by tens of millions. With over 129k registered users, $16.5M in life-time sales, and 3,000 GolfBoards around the world, we believe we have developed a golf vehicle that will truly bring golf into the 21st century.

With GolfBoard’s proven commercial golf market adoption and strong traction with riders young and old, moving forward we plan to widely adopt a new revenue-sharing model which we believe will produce sustainable high margin recurring revenue for our Company as well as our clients.  We will provide GolfBoards to courses for zero or minimal upfront cost,  then share the daily rental fees these revenue share boards generate. We believe this business model will result in much higher profits over the long-term, plus it will be far easier to scale adoption as courses have no large upfront fees. 


Our revenue share model is capital intensive, as we will own the GolfBoards as opposed to the client. This capital raise will allow us to further grow our company-owned GolfBoard fleet, deploying more and more GolfBoards that we already know people love to ride.

The Problem


Golf is having trouble appealing to younger audiences and lacks innovation

The 21st century has not been kind to Golf. From 2002 to 2016 the number of regular golfers dropped from 30M to 20.9M, with ratings and equipment sales suffering as well. Additionally, people have been playing fewer and fewer rounds of golf, with 20-30% overall decreases in the past 10-15 years.

This decline in golf’s popularity is largely due to the slow pace of play and inefficiencies of golf carts, which force two riders per cart to waste up to 50% of their time waiting for their partner to find and hit their ball.


In today’s post-COVID-19 world, we believe the desire for single-rider vehicles is only going to increase, as consumer preferences surrounding shared spaces are altered. Additionally, social distancing requirements in some states which restricts only one rider per cart (when not family) has increased demand from golf courses looking to augment their current fleet. 

The Solution


The GolfBoard dramatically increases the pace of play and adds a boarding twist to the game

We have developed an all-wheel drive, personal golf vehicle that brings a fresh, exciting twist to the game of golf, without changing the fundamentals of the game itself. And unlike golf carts, there is little-to-no wear and tear on the turf, much to the delight of Golf Course Superintendents everywhere.


Additionally, in the new normal of the COVID-19 world, GolfBoards allow users to maintain their personal space while Surfing The Earth on their favorite course. The GolfBoard’s simple dual grip stability bar and small non-skid deck is far easier to sanitize between rounds than a much larger golf cart.

Millennials and Gen Z — these are the key demographic groups who represent the future of golf and have a widespread interest in board sports such as surfing and snowboarding. Our proprietary 4-wheel drive lithium-ion battery-powered board offers this very important demographic a familiar window that golf course can use to help attract more Millennials and Gen Zs to a sport they may have never considered before. We’ve seen this ability to help attract new players reflected in our GolfBoard registered rider statistics, as 39% of our 129,000 users are first-time visitors to the course.

Our opportunities have also spanned into the digital realm, as we’ve developed a convenient booking app for our users, where they can log on and reserve GolfBoards ahead of time, and find courses near them that host our boards.

The Market


Tens of thousands of courses looking for a fresh way to drive new traffic

Golf Monthly reports that there are around 15K golf courses in the U.S. (and another 15K abroad). With each and every one of them on the frontlines of golf’s war to regain players, they are all on the look-out for new innovations to reclaim their customer base.

Unlike the aging market for golf overall, we believe we've found a way to capture the attention of younger audiences, with 67% of our users representing the desirable under-50 demographic. This is a younger demo with a high lifetime value that courses have been dying to attract for years.

Disclaimer: The graphic above displays data collected from an external survey

Our Traction


$16.5M in lifetime revenue and a proven, popular product

We have successfully brought the GolfBoard from a high potential disruptive concept to a globally recognized brand. At one time GolfBoard was deemed a novelty that would appeal to younger players, but in the years since our award-winning 2014 launch, golf management companies have embraced our unique and revolutionary offering, spending over $16M on 3K+ units worldwide.

We now have over 129K registered riders, who have already played over 1M rounds on our boards. The GolfBoard new rider registry has allowed us to build up a highly valuable database of users, featuring name, age, and email address, which enables us to pursue a low-overhead, highly effective marketing strategy for the Company and our clients.

Thanks to fantastic feedback and excitement from golf industry key influencers, we were awarded best new product of 2014 at the PGA Merchandise Show. GolfDigest also selected GolfBoard for its Best Club Transport Editors Choice Award providing worldwide recognition.


The contagious attraction of GolfBoard has generated a ton of viral success since its launch 6 years ago, with tens of millions of video views featuring GolfBoarders enjoying a round on one of our best-in-class product offerings.

Our boards are now welcome at many of the top golf courses in the world which are managed by companies like Club Corp., Billy Casper Golf, Discovery Land Properties, (including The World Famous Yellowstone Club), and Troon. GolfBoard is also very popular with independently owned and operated public courses with 20+ GolfBoard Showcase courses offering availability of fleets of 12 or more GolfBoards.

What We Do


An alternative to the sedentary golf cart

We give golfers a new option for speeding up their round, by allowing them to move quickly and precisely from shot to shot, without the sedentary, inactive shortcomings of a golf cart. GolfBoarding is a fun, fast, and much fitter way of enjoying any golf course, which helps even good golfers play better. 


As compared to walking, GolfBoard allows users to be highly active while speeding up the pace of play. In comparison to a golf cart, the individual-use nature of the GolfBoard allows riders to go directly to their own ball after each shot, which drastically cuts down the time spent navigating between two golfers with shots that frequently land on opposite sides of the fairway.

GolfBoard President & COO at Pronghorn


Golf course Superintendents welcome the use of GolfBoard as it is much lighter and more environmentally-friendly than standard carts, and is therefore allowed to go much closer to tee boxes and greens. Since GolfBoarders can go much closer to the tee box and green, any golfer with mobility issues also greatly prefers our turf-friendly offering.

Most importantly, GolfBoard is great fun. Just like other high action board sports, riders turn by shifting their body weight from side to side enjoying an amazing boarding experience in the middle of their golf game. At any time, GolfBoarders can choose to ride in a conserative skier stance or the more aggressive boarder style.

The Business Model


Distributed through sales, rentals, and revenue sharing programs

The Company has historically driven its revenue through the sale of personal and commercial use GolfBoards. Individuals usually order a single unit, and golf courses order a fleet of 4 to 8 boards. Our main focus moving forward is expanding our rental and revenue sharing programs which we believe will substantially accelerate the sales cycle and provide exponential growth. 


1) Sales Offerings


We have two direct sales offerings — the standard GolfBoard and the GolfBoard Pro/ResortBoard. 


  1. Standard GolfBoard sells for $6.5K and generates a 44% margin of $2,902

  2. GolfBoard Pro/ResortBoard sells for $7.5K and generates a 44% margin of $3,365

2) Rental Program


The average rental billing is $375/month per board. The typical course orders 4 rental boards for a 6 month season, which generates rental revenue of approximately $9,000. The company will typically invest an average of $1,200 per board for refurbishing and maintenance fees, creating a total margin of $4,200/46% per season.

3) Revenue Share Program

With our new revenue share program, golf courses will no longer have to make any significant upfront payments to have GolfBoards on their courses. By eliminating the downside risk of getting GolfBoards, the Company will be able to select to partner with those courses with the highest player volume and highest rental revenue potential.


By sharing the rental revenue 50% / 50% with its course partners, the Company will collect $375 per board per month providing the GolfBoards rent on average of just once per day. Through the company’s new revenue share program, revenue can increase up to $750 per board per month at an average rental frequency of twice per day, potentially doubling the margin vs renting or selling GolfBoards.


This new GolfBoard Revenue Share Program is expected to eventually become the Company's primary growth offering, hopefully creating sustainable high-margin recurring revenue. The Company projects it could generate a margin of over $3,000 per board per year at its highest volume revenue share partners. Please note these are best estimates and are subject to change depending on costs and the market. 

How We Are Different


GolfBoard is a US made, 4-wheel drive, single rider golf vehicle 🇺🇸

Our competitors are primarily made up of two-wheel scooters or electric motorcycles who have modified their products to service the golf industry. From the beginning, the GolfBoard has had a golf intentional design which has been the exclusive focus of every stage of our product development. We believe these modified competitor products do not stack up for the golf game.

We believe the instability of 2 wheel scooters leads to a lack of confidence in the safety of these products. This leaves GolfBoard with a majority share of the alternative offerings to the golf cart market. Only GolfBoard has emerged as a globally recognized brand.

Many of the top golf courses are underutilized due to declining demand. Our solution has proven to bring back golfers to our partner courses, in some cases resulting in an increase of up to 30% more rounds played. GolfBoard attracts new players to almost every course, plus the faster pace of play stimulates many regular golfers to play more often.  

GolfBoard Fans and followers


Everyone loves GolfBoarding

With over 129,000 registered riders, plus over 40,000 social media fans and followers, GolfBoard has a large, loyal and growing group of eager supporters. Young or old, first time user or experienced boarder, most everyone loves to go GolfBoarding. Additionally, with 300 to 400 personal use GolfBoards already sold, we have hundreds of ambassadors spreading the joy of Surfing The Earth every day. No other product in golf creates as much excitement and enthusiasm as the GolfBoard.

The Vision


We will go beyond just golf

After expanding our golf market share in the near term, we plan to leverage our advanced board designs to move into massive high potential adjacent offerings.


We believe our company is well-positioned for growth as the marketplace for electric and alternative vehicles further expands. 


The CaddyBoard has been developed with a bag stand on the front of the board plus a bag stand on the back in order to carry the clubs of 2 players. Designed specifically for Caddies, the CaddyBoard allows the Caddy to get around the course faster, and service their clients better while avoiding the physical strain of carrying 2 golf bags 18 holes. With the CaddyBoard, the Caddy can be on the tee box with their clients when they’re driving, then quickly get out in front to find their balls, measure distance, and select the right club.

The ResortBoard is designed for both urban use as well as backcountry trail riding - providing the ultimate adventure experience. With plans to first target resorts and vacation destinations who will use our resortboards for sightseeing and tourism, interest in our adjacent offerings is expected to quickly grow.

OUR LEADERSHIP


A diverse team of experienced leaders and executives

Chairman and CEO John Wildman spent over 25 years with Bally Total Fitness in positions like CMO and COO. He helped grow Bally to over 400 locations with annual revenue over $1B.


President Jeff Dowell has worked in startups and early-stage business development ventures in the golf tech and digital media industries for over 35 years.


Co-Founder and Director Star Faraon is one of our largest shareholders. Star was behind the original development of the high-performance 4-wheel drive skateboard which led to the development of the GolfBoard.


Why Invest


Make golf fun again

With extremely strong proof of concept and excellent feedback from both golfers and course management, we are extremely excited to continue scaling our company and invest into the future of golf (and adjacent personal use vehicle offerings).

 

We believe that our line of electric, 4-wheel drive, single rider boards combine so many of the most in-demand qualities of personal use vehicles, like fun, ease of use, sustainability, and safety.

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In the Press

Wall Street Journal
January 1, 2017

GolfBoard Lets Golfers Surf the Turf

CNBC
January 1, 2017

Surfing the greens with golf’s new cart

Abu Dhabi Sports Council
January 1, 2017

THE 'RIDER CUP' DESERT CHALLENGE 2016

Golf Channel

PGA Show: Business side of GolfBoards

Crowd Invest Summit

GolfBoard Interview with CEO John Wildman at Crowd Invest Summit 2016

CBS This Morning

Will 83 year old's GolfBoard catch a wave

Robb Report

Laird Hamilton Gives RobbReport.com a Demo of His New GolfBoard

Golf Monthly

Golf Monthly's Neil Tappin has a go on this four-wheel-drive golf skateboard in his GolfBoard review.

GolfDigest

GolfBoard at GolfDigest

CBS 8 News Las Vegas

GolfBoard at Las Vegas National! Surf the Earth! CBS 8 News Las Vegas

Offering Summary


Company

:

Sol Boards, Inc.

Corporate Address

:

61239 Tetherow Dr. #211, Bend, OR 97702

Offering Minimum

:

$10,000.00

Offering Maximum

:

$250,000.00

Minimum Investment Amount

(per investor)

:

$250.00











Terms


Offering Type

:

Equity

Security Name

:

Class B Non Voting Common Stock

Minimum Number of Shares Offered

:

8,000

Maximum Number of Shares Offered

:

200,000

Price per Share

:

$1.25

Pre-Money Valuation

:

$11,035,048.00











*Maximum Number of Shares Offered subject to adjustment for bonus shares. See Bonus info below.

COVID Relief

This offering is being conducted on an expedited basis due to circumstances relating to COVID-19 and pursuant to the SEC’s temporary COVID-19 regulatory relief set out in Regulation Crowdfunding §227.201(z).

Offering maximum.

In reliance on this relief, financial information certified by the principal executive officer of the issuer has been provided instead of financial statements reviewed by a public accountant that is independent of the issuer, in setting the offering maximum of $250,000.

Expedited closing sooner than 21 days.

Further, in reliance on Regulation Crowdfunding §227.303(g)(2) A funding portal that is an intermediary in a transaction involving the offer or sale of securities initiated between May 4, 2020, and August 31, 2020, in reliance on section 4(a)(6) of the Securities Act (15 U.S.C. 77d(a)(6)) by an issuer that is conducting an offering on an expedited basis due to circumstances relating to COVID-19 shall not be required to comply with the requirement in paragraph (e)(3)(i) of this section that a funding portal not direct a transmission of funds earlier than 21 days after the date on which the intermediary makes publicly available on its platform the information required to be provided by the issuer under §§227.201 and 227.203(a).

Investment Incentives and Bonuses*

$1,000+ | Bronze Tier

Invest $1,000 and surf the earth with 2 free Golfboard 18-hole day passes.

$2,500+ | Silver Tier

Invest $2,500 and surf the earth with 4 free Golfboard 18-hole day passes.

$5,000+ | Gold Tier

Invest $5,000 and receive $500 off your own Golfboard plus 4 free Golfboard 18-hole day passes.

$10,000+ | Platinum Tier

Invest $10,000 and receive $1000 off your own Golfboard plus 4 free Golfboard 18-hole day passes.

$25,000 | GolfBoard

Invest $25,000 and receive a free GolfBoard.

$50,000 | SportBoard

Invest $50,000 and receive a free SportBoard with rear fender cooler plus sand and seed bottle.

$75,000 | GolfBoard Pro

Invest $75,000 and receive a free GolfBoard Pro with rear fender cooler plus sand and seed bottle.

$100,000+ | GolfBoard Pro Graphite

Invest $100,000 and receive free customized GolfBoard Pro with graphite fenders and seat cooler system.

The 10% Bonus for StartEngine Shareholders

Sol Boards, Inc. will offer 10% additional bonus shares for all investments that are committed by investors that are eligible for the StartEngine Crowdfunding Inc. OWNer's bonus.

This means eligible StartEngine shareholders will receive a 10% bonus for any shares they purchase in this offering. For example, if you buy 100 shares of Class B Non-Voting Common Stock at $1.25/ share, you will receive 110 shares of Class B Non-Voting Common Stock, meaning you'll own 110 shares for $125. Fractional shares will not be distributed and share bonuses will be determined by rounding down to the nearest whole share.

This 10% Bonus is only valid during the investors' eligibility period. Investors eligible for this bonus will also have priority if they are on a waitlist to invest and the company surpasses its maximum funding goal. They will have the first opportunity to invest should room in the offering become available if prior investments are cancelled or fail.

Investors will only receive a single bonus, which will be the highest bonus rate they are eligible for.

*All perks occur when the offering is completed.

Irregular Use of Proceeds

The Company will not incur any irregular use of proceeds.

Show More
Most recent fiscal year-end:
Prior fiscal year-end:
Total Assets
$2,477,239.00 USD
$2,364,344.00 USD
Cash And Cash Equivalents
$207,614.00 USD
$28,889.00 USD
Accounts Receivable
$160,290.00 USD
$284,051.00 USD
Short Term Debt
$1,840,103.00 USD
$2,636,287.00 USD
Long Term Debt
$2,791,854.00 USD
$2,971,543.00 USD
Revenues And Sales
$1,486,044.00 USD
$1,797,569.00 USD
Costs Of Goods Sold
$560,216.00 USD
$1,098,402.00 USD
Taxes Paid
$0.00 USD
$0.00 USD
Net Income
$337,468.90 USD
-$642,685.00 USD

Risks

A crowdfunding investment involves risk. You should not invest any funds in this offering unless you can afford to lose your entire investment. In making an investment decision, investors must rely on their own examination of the issuer and the terms of the offering, including the merits and risks involved. These securities have not been recommended or approved by any federal or state securities commission or regulatory authority. Furthermore, these authorities have not passed upon the accuracy or adequacy of this document. The U.S. Securities and Exchange Commission does not pass upon the merits of any securities offered or the terms of the offering, nor does it pass upon the accuracy or completeness of any offering document or literature. These securities are offered under an exemption from registration; however, the U.S. Securities and Exchange Commission has not made an independent determination that these securities are exempt from registration.


Updates

GolfBoard Reg CF Offering Now 58.8% Subscribed

14 days ago

Dear Investor Community

Thank you so much for your continued interest and support of GolfBoard. Our team is energized by the strong on-going positive feedback from our more than 120,000+ registered GolfBoard riders plus 40,000+ Facebook and Instagram followers. Ideally suited for social distancing, more riders than ever before are choosing to experience the incredible fun of GolfBoarding. We are highly confident that now more than ever GolfBoard is the ideal product to revolutionize the game of golf.  

GolfBoard has come a long way since winning best new product at the Orlando PGA Merchandise Show back in 2014. With over 1 million GolfBoarding rounds now played, our clients have seen firsthand that GolfBoard is a highly effective way to attract new players to the game. For 2021, our new and improved GolfBoard is wider, more stable, plus has even greater durability and higher performance than ever, setting the stage for us to fully capitalize on the record demand we expect to see in the new year.

New investment in GolfBoard also continues to grow. Just this weekend alone we had over 800 visits to our Golfboard Reg CF offering campaign page at StartEngine, generating more than 160 new GolfBoard investors, with more joining in every day. It’s this new investment that will fund the continued worldwide expansion of our global GolfBoard brand. Now nearly 60% subscribed, we hope you will encourage others to participate in our Reg CF offering and became a GolfBoard shareholder.

Thank you again for your support. 

       cid:5C6EAD97-10D3-4265-9F75-9F6D445D4678

John Wildman

Chairman & CEO



Notice of Material Change in Offering

14 days ago

[The following is an automated notice from the StartEngine team].

Hello! Recently, a change was made to the GolfBoard by Sol Boards, Inc. offering. Here's an excerpt describing the specifics of the change:


GolfBoard by Sol Boards, Inc. extended its campaign.


When live offerings undergo changes like these on StartEngine, the SEC requires that certain investments be reconfirmed. If your investment requires reconfirmation, you will be contacted by StartEngine via email with further instructions.

Notice of Funds Disbursement

21 days ago

[The following is an automated notice from the StartEngine team].

Hello!

As you might know, GolfBoard by Sol Boards, Inc. has exceeded its minimum funding goal. When a company reaches its minimum on StartEngine, it's about to begin withdrawing funds. If you invested in GolfBoard by Sol Boards, Inc. be on the lookout for an email that describes more about the disbursement process.


This campaign will continue to accept investments until its indicated closing date.


Thanks for funding the future.

-StartEngine

Show More Updates End of Updates

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