EP 997 | Joe Simonds | Salt Strong Acquisition Story

Joe Simonds is the CEO and Co-Founder of Salt Strong, one of the largest online fishing education companies in America. In this conversation, Joe reveals the behind-the-scenes story of Salt Strong's recent acquisition and what it means for the future of fishing education. He shares why he and his brother Luke walked away from selling $50,000 a month in apparel, how a 2025 vision written seven years ago predicted this exact moment, and the five criteria they had to meet before they'd ever sell the company. Joe also opens up about the emotional process of due diligence, the family office that acquired them, and why their members are now getting more than they bargained for.

The 2025 Vision Written Seven Years Ago

Seven years before this conversation, Joe and Luke sat down to create a massive BHAG—a big, hairy, audacious goal—for 2025. They mapped out member targets, content plans, and expansion dreams. But the very last bullet point on that vision document was something that seemed almost impossible at the time: acquire the property for a fishing theme park. Joe kept that document visible in their office, looking at it constantly, wondering if they'd hit that final goal. When 2025 actually arrived, most of the vision had come true except that last line. Then something unexpected happened that would not only make the theme park possible, but accelerate everything else they'd dreamed about for 2030. Joe explains how that seven-year-old document set everything in motion at 21:06.

Why They Walked Away from $50,000 a Month in T-Shirt Sales

Salt Strong was crushing it in apparel. Fifty thousand dollars a month in shirt and hat sales, all direct to consumer. People were wearing Salt Strong gear everywhere. But Joe and Luke kept coming back to their mission statement—the one born from their grandfather's funeral where 12 grandkids shared memories, and not one of them mentioned a material possession. They realized they didn't want to be an apparel company. The returns were brutal, especially from women who returned 30 to 40 percent of everything with cigarette burns and wear. More importantly, it didn't align with their North Star of helping people create memories on the water. So they made a decision that confused a lot of people, including Tom. The moment they decided to kill the golden goose starts at 12:40.

The Five Criteria Before They'd Ever Sell

Joe and Luke had a line in the sand: five non-negotiable criteria that had to be met before they'd consider selling Salt Strong. The final one was the dealbreaker—they would never sell to private equity. They'd seen too many trusted brands get rolled up, quality destroyed, customer service gutted, all in the name of a quick flip. When conversations started happening around the acquisition, Joe made sure everyone they talked to understood this wasn't negotiable. Then Sportsman's Guide entered the picture, and everything was different. They weren't private equity. They were a family office with a 40-year track record of never selling a single company they'd acquired. Joe got to talk to a guy who sold his company to them 32 years ago and still works there today. The full list of criteria and why they mattered starts at 33:00.

What Members Actually Get from the Acquisition

The skeptics came out immediately when the acquisition was announced. Joe understands why—we've all watched beloved brands get destroyed after being sold. But this deal did something unusual: it made the membership better overnight. Every Salt Strong Insider member automatically got a free Sportsman's Guide membership for life—a $60 annual value—as long as they stay active. Joe and Luke then pushed even harder: what about the lifers, the people who paid extra for lifetime access? Sportsman's Guide didn't hesitate. Lifetime members got lifetime access to both clubs. The inventory that Salt Strong could never afford to carry—680 SKUs compared to Sportsman's Guide's 800,000—suddenly became accessible to members at discount pricing. Joe reveals what this means for the 2030 vision at 37:40.

Final Thoughts from Tom

I remember the day Joe and Luke told me about Salt Strong. They didn't even have the name locked in yet. I watched them go from not knowing what they were selling to crushing it with t-shirts, then walking away from $50,000 a month to focus on education. I've seen them build something that actually helps people catch fish and create memories with their families, which is rare in this industry.

What struck me most about this conversation is how intentional Joe and Luke have been at every step. The five criteria before they'd sell. The non-negotiable stance against private equity. The way they made sure their members got more value from the acquisition, not less. That seven-year-old vision document with the fishing theme park as the last bullet point—and how this sale might actually make it happen.

If you've ever thought about building something, scaling it, or what it actually takes to sell a company without selling out, you need to hear this whole conversation. Joe breaks down the entire six-month process, the emotional toll of due diligence, and why he kept praying for God to either open the door so wide he couldn't miss it or slam it shut in his face. This one's worth your time.