First into the tank are David Yusuf, Sal Aziz and Alex Amidi of Bouquet Bar, seeking $150,000 for 10 percent equity.
Key Highlights: Bouquet Bar on Shark Tank
- Bouquet Bar offers a fresh twist on gifting with customizable boxes.
- Founders sought $150,000 for 10% equity on Shark Tank.
- Gifts include flowers, sweets, bath bombs, and more.
- Prices range from $47.99 to $159.99 per box.
- They achieved nearly $100,000 in sales within four months.
- Lori Greiner suggested focusing more on the floral aspect.
- Mark Cuban invested $150,000 for 20% equity.
Bouquet Bar: A Quick Company Overview
Bouquet Bar puts a fresh twist on gifting.
According to their website, the founders “took a simple idea to make the gifting experience unique and meaningful and brought it to life” with the unique gifting platform.
Shoppers simply choose a designer box, select the gifts and wait for the gift to arrive.
Gifts include floral arrangements, sweet treats, bath bombs and more. The box options range in price from $$47.99 for a two-gift box to $159.99 for a box that includes two gifts and a beautiful bouquet.
The Sharks’ Reaction to Bouquet Bar
Guest shark Sara Blakely says they’re “beautiful” and all the sharks seem impressed with their boxes. Daymond John acknowledges that it’s “quality stuff.”
Kevin O’Leary likes the potential but worries about the customer acquisition costs. In four months, they have done nearly $100,000 in sales.
Lori Greiner points out that the box reminds her of Sugarfina candy boxes. She thinks they need to better differentiate themselves and focus on the floral side of the company and goes out, followed by Blakely.
John thinks it would be tough to educate people about how they’re gifting “wrong” and goes out.
O’Leary likes the company and the potential for the wedding industry, but goes out.
After some convincing, Mark Cuban decides to jump in with an offer of $150,000 for 20 percent. They accept.
Social Media Reacts to Bouquet Bar’s Appearance on “Shark Tank”
This packaging is sexy, Bouquet Bar. #SharkTank
— KJ Hill (@KalebJHill) January 22, 2018
Bouquet Bar very high customer acquisition costs and similar businesses exist #SharkTank
— Lance Becvar (@Dadsonpowermode) January 22, 2018
@Bouquetbarinc enjoyed your presentation on #SharkTank. Congratulations on having a great business. It is truly about not giving up. Congratulations on getting a deal with @mcuban.
— Ted Hardaway (@TedHardaway) January 22, 2018
Congrats @mcuban !! Really nice entrepreneurs really nice presentation @Bouquetbarinc #SharkTank @ABCSharkTank pic.twitter.com/wON4ShS3IO
— Lori Greiner (@LoriGreiner) January 22, 2018
Wrapping Up
Each week on “Shark Tank,” budding entrepreneurs have the opportunity to pitch their emerging businesses to multi-millionaire and billionaire investors, known as sharks: Mark Cuban, owner of the Dallas Mavericks; Daymond John, fashion mogul and founder of FUBU; Kevin O’Leary, self-proclaimed Mr. Wonderful and founder of O’Leary Financial Group; Barbara Corcoran, real estate maven; Lori Greiner, queen of QVC; and Robert Herjavec, technology guru and founder/CEO of the Herjavec Group.
Philanthropist and Virgin Group founder Richard Branson, Spanx founder Sara Blakely, Skinnygirl Cocktails founder and Real Housewife Bethenny Frankel, Vitamin Water founder Rohan Oza and former MLB player Alex “A-Rod” Rodriguez are also slated to appear as guest sharks this season.
“Shark Tank,” which is based on “Dragons’ Den,” is produced by Mark Burnett and first debuted in 2009. To date, the sharks have invested more than $100 million in various companies after engaging in numerous bidding wars and shark fights. A new episode airs each Sunday at 9 p.m. on ABC.
Would you buy a Bouquet Bar box? Sound off in the comments section below!