Women often conceal their drinks while taking photos at weddings, and it’s a common practice for them to do so. If you are in this situation, Flasky Flowers is the product for you, as it is a bouquet containing a flask hidden inside.
The product was designed by Kelly Moynihan with the support of her husband and they were able to secure funding from three sharks by collaborating. Approximately 400 thousand dollars are expected to be the value of Flasky Flowers by 2023.
What Is FlaskyNet Worth?
Since Shark Tank, not much information about this company has been available so far. In addition to this, it has been difficult to find accurate information about its annual revenue as well. As we estimate Flasky Flowers net worth to be around $0.3 million to $0.5 million, we think they are just fine.
The Moynihan brothers were raised just a mile apart in Delray Beach, Florida, where they live today. Both Ryan and Kelly attended Boca Raton High School in their hometown, and Kelly went to Atlantic High School in Atlantic City.
As a couple, they tied the knot in 2012 and stayed in Delray Beach after their wedding. During this time, they were raising seven children. Ryan had a full-time job at the time, but Kelly worked as a hairdresser to help with the finances for the family.
At the beginning of 2013, Kelly was hired by a bridal party, and when she was taking pictures with the bride and the bridesmaids, she noticed that oftentimes they occasionally let go of their drinks to grab their flowers when taking pictures with them. For the native Floridian, this sparked the idea of starting a new business venture.
Also Check: CropSticks Net Worth
HOW WAS THE FLASKY FLOWERS IDEA BORN?
The hairdresser Kelly Moynihan was at a wedding when she noticed just how often bridal parties drink throughout the entire day, as she was looking after the bridal party.
As a result of a thinking process, she came up with the idea to design a plastic flower bouquet holder that has a built-in drinking reservoir with a straw attached to the side of it. Flasky Flowers was born as a result of this experience.
WHAT OFFER DID THEY WALK AWAY WITH AFTER THEIR SHARK TANK EPISODE?
It was the Flasky Flowers team’s goal to appear on the Shark Tank show in hopes of securing a deal worth at least $50,000 in exchange for a 10% stake in the business.
The investors discussed the business idea in the end and decided to combine their offers in the end. Having already worked in the wedding sector, Kevin O’Leary was interested in investing in Flasky Flower since he has a background in the field.
Mark Cuban and Lori Greiner felt that they could assist in marketing and promoting the product as well as helping them to sell it. As a group, they offered the Flasky Flower brand a half-interest of $75,000 in exchange for 30% of its shares.
Who Is The Founder Of Flasky Flowers?
The Flasky Flowers Company is a wonderful new company founded by Kelly Moynihan and her husband Ryan Moynihan, two of the co-founders of the company. He is also the business manager. Currently, this company is run by these two people together.
When Kelly got the idea for this business, her husband left his job to be able to look after their seven children as well as take care of their home. Their house was also sold shortly after that.
Flowers Before Shark Tank
There are seven children in Kelly’s family, and she is also a part-time hairstylist. Her duties include styling the hair of the bride and bridesmaids at the wedding events in which she will take part.
I first came up with the idea for a flaky product after looking at the bridesmaid bouquet at a wedding that Kelly attended. Then, through the use of her baby bottle, she made a prototype from the design.
A photo of this product was taken by Kelly & Ryan before they developed their first Flasky Flowers product from the manufacturer based on Kelly & Ryan’s patent.
During Kelly & Ryan’s marketing campaign, they introduced their product at many bridal shows, and after that, their sales started to grow rapidly.
The couple decided to participate in Shark Tank in 2020, but they were unable to attend because their child had to undergo open-heart surgery to be able to compete. After the 13th season of Shark Tank, they finally came to the show.
How Was The Shark Tank Pitch Of Flasky Flowers?
With the help of their company Flasky Flowers, Kelly and Ryan went into Shark Tank and asked the sharks for $50,000 in exchange for 10% equity in their company. There was a complete explanation of how their product works and how it works by the founder. She also told the story of how she came up with the idea for this product, along with the story of how she got the idea.
It is estimated that they have made $21,000 in lifetime sales. A unit like this sells for $20 and costs $1.77 to make, as well as the fact that this product is 100% manufactured here in the USA.
Almost all of their sales are made online. According to Kelly, they sold their house for money to invest in their business, and Ryan quit his job to take care of their seven children while Kelly was at work. To start this business, Kelly had invested $60,000 in it.
As a result of the Covid-19 pandemic in 2020, the wedding industry completely collapsed. The offer was made by Lori Greiner after she had decided to make it. In exchange for a 20% equity stake in the company, she offered $75k. The three of them made an offer of $50K each for a 30% equity stake in each other and a 10 per cent equity stake in Kevin. It was agreed that this offer would be accepted by this husband and wife.
Finalize: Lori Greiner, Kevin O’Leary and Mark Cuban have committed $75K to ‘Flasky Flowers’ in exchange for 30% equity in the business.
Also Check: Apolla Socks Net Worth
What Happened To Flasky Flowers After Shark Tank?
Although the sales of this unique business idea weren’t so good, the margins of the product were so high that it got a deal on Shark Tank, although the sales of their product weren’t so great. There were no sharks that were not impressed with this product.
There are seven children in this family and this entrepreneur quit his job and sold his house to start this business which is a big risk for him to take.
An entrepreneur’s journey into business is a very emotional one. Despite this, their invention creates a funny moment at the wedding because of the product they invented.
It was after Shark Tank that many people expressed their own opinions about Flasky Flowers People on Twitter. One of them stated that the company was super irresponsible and that this was an example of bad governance.
According to our calculations, the sales of this company must have doubled from its lifetime sales after Shark Tank. I look forward to seeing this business featured in the upcoming issue. A further 20% discount is running on the official website of this product until November 23, 2022, so make sure to take advantage of it.
Flasky Flowers Shark Tank Update
As a result of Flasky Flowers’ success in Shark Tank and the deal they got, people would get different responses. It has been said by some people that this product is not good while others have said that it is one of the best.
It has been one year since the Shark Tank appearance of this company and at the same time, the price of this product has increased by $25.0 since it was first featured in October 2022.
We have no evidence as to whether Mark Cuban, Kevin O’Leary, and Lori Greiner closed the deal with the company in November 2022 or whether they have talked with the company about it. The Black Friday sale has been a success for Kelly and Ryan and they have worked hard at building up their business.
As a wordsmith with a love for storytelling, I William brings the numbers to life. I translates complex financial data into engaging narratives that help you understand the journey to success of the individuals we feature. I ensures that our content is not just informative but also a pleasure to read.