Flasky Flowers – Flask & Bouquet
DEAL
EPISODE SUMMARY
🕓 Air Date: October 22, 2021
Asking For:
$50,000 for 10%
Investor:
Kevin O'Leary, Mark Cuban, Lori Greiner (33,33)
Deal:
$75,000 for 30%
PRODUCT SUMMARY
Flasky Flowers offers bouquets with hidden flasks, allowing brides and grooms to discreetly enjoy beverages during weddings.
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Background Story
Kelly, a skilled hairdresser, stumbled upon the idea behind Flasky Flowers while observing brides discreetly sipping drinks hidden behind their flower bouquets at weddings. This simple yet brilliant observation sparked her entrepreneurial spirit. With unwavering determination, Kelly and her supportive husband, Ryan, embarked on a journey to turn this innovative concept into a reality.
Their commitment was nothing short of extraordinary. In pursuit of their dream, the Moynihans made a bold decision to sell their family home, a significant sacrifice. Furthermore, they both quit their jobs to dedicate themselves fully to Flasky Flowers. This was no small feat considering they have seven children, which added another layer of responsibility to their already challenging venture.
Despite the hurdles and uncertainties they faced, Kelly and Ryan remained steadfast in their belief in the product’s potential. They invested a substantial sum of $60,000, demonstrating their faith in the idea and their willingness to take risks. Their story reflects the true spirit of entrepreneurship, where passion and dedication drive individuals to overcome obstacles and pursue their dreams with unwavering resolve.
The Product
Flasky Flowers, the innovative creation of Kelly and Ryan Moynihan, offers a unique twist to traditional wedding bouquets. These exquisite bouquets conceal a hidden compartment designed for holding beverages, ensuring that the beauty of the flowers and the drink remain distinct. Priced at an affordable $20, Flasky Flowers provide an elegant and playful solution for couples seeking a discreet way to enjoy their favorite beverages during weddings.
One remarkable aspect of Flasky Flowers is their commitment to domestic production. These floral masterpieces are proudly 100% made in the USA, a testament to the Moynihans’ dedication to quality and supporting local manufacturing. This not only assures customers of a product crafted with care but also contributes to the growth of American businesses.
With total sales reaching $21,000, Flasky Flowers have already made a notable mark in the market. Their 1,500 units in inventory demonstrate the growing demand for this inventive product. As Kelly and Ryan partner with Sharks Lori Greiner, Mark Cuban, and Kevin O’Leary, there is great potential for Flasky Flowers to blossom further, catering to couples across the country seeking a delightful and memorable addition to their wedding day.
How It Went
The company’s position before Shark Tank
The journey of Flasky Flowers has been marked by resilience and adaptability, particularly in the face of the challenging circumstances brought about by the global pandemic. The COVID-19 pandemic significantly impacted the wedding industry, causing disruptions and uncertainty. As a result, Flasky Flowers experienced a slowdown in business, compelling Kelly to continue working as a hairdresser to make ends meet. Her dedication to supporting her family and her venture exemplifies her unwavering commitment to the success of Flasky Flowers.
Despite the adversity, Kelly and Ryan Moynihan demonstrated their faith in their product by investing their hard-earned savings into the business. Their financial commitment underscored their belief in the potential of Flasky Flowers, reinforcing their determination to see it thrive. The involvement of three Sharks, namely Lori Greiner, Mark Cuban, and Kevin O’Leary, in the negotiations marked a pivotal turning point for the company. Their collective interest and investment not only provided much-needed capital but also brought valuable expertise and mentorship to the table.
This trio of seasoned entrepreneurs saw the potential in Flasky Flowers, recognizing its uniqueness and market appeal. As Flasky Flowers moves forward with the backing of these experienced investors, it is poised to navigate the challenges posed by the pandemic and position itself as a sought-after addition to weddings, reaffirming the Moynihans’ dedication to their innovative product and their entrepreneurial spirit.
The Negotiations:
In the high-stakes world of “Shark Tank” negotiations, the Moynihans faced a pivotal decision that could shape the future of Flasky Flowers. The offers on the table were both promising and compelling, each carrying its own unique terms and opportunities. Lori Greiner, known as the “Queen of QVC” for her expertise in product sales, extended a tempting offer of $50,000 for a 20% equity stake in Flasky Flowers. Her offer resonated with the Moynihans, given her reputation for turning innovative ideas into commercial successes.
On the other side of the tank, Mark Cuban and Kevin O’Leary saw the potential for growth and threw their hats into the ring with an even more substantial offer. They proposed an investment of $75,000 for a 30% stake, with the condition that they would provide valuable guidance and assistance in scaling the business. Their combined expertise and resources promised a robust path to success. Barbara Corcoran, known for her keen eye for real estate and business, chose not to make an offer, acknowledging the fierce competition among the Sharks.
Ultimately, the Moynihans enthusiastically accepted Lori, Mark, and Kevin’s joint offer. Their decision not only secured the much-needed investment but also brought on board a trio of experienced and passionate mentors who could help Flasky Flowers bloom into a flourishing business. It was a pivotal moment, marking the beginning of an exciting journey for this innovative company.
