Flasky Flowers is a unique product that cleverly combines a bouquet holder with a beverage storage solution, enhancing wedding and event experiences.
The top of the Flasky Flowers holder features dry foam that elegantly displays fresh flowers, while the bottom compartment discreetly stores beverages.
This innovative design allows guests to enjoy drinks without revealing their presence, as the flowers artfully conceal them. Each bouquet holder is reusable, making it an eco-friendly choice for celebrations.
Company Overview
Founders: Kelly and Ryan Moynihan
Founded: 2017
Product: Bouquet and beverage holder
Initial Investment Sought: $50,000 for 10% equity
Final Deal: $75,000 for 30% equity
Sharks: Mark Cuban, Kevin O’Leary, and Lori Greiner
Headquarters: Delray Beach, Florida
Sales Platform: Available on Etsy
The Pitch on Shark Tank
When Kelly and Ryan Moynihan pitched Flasky Flowers on “Shark Tank” during Season 13, they sought $50,000 for a 10% equity stake.
The couple shared their heartfelt story, revealing that they had sold their home and that Ryan had quit his job to care for their seven children while Kelly focused on building the business.
They reported total lifetime sales of $21,000, with each unit retailing for $20 and costing about $1.77 to produce.
Despite the challenges posed by the COVID-19 pandemic to the wedding industry, the sharks were impressed with Flasky Flowers’ high-profit margins.
Lori Greiner initially offered $75,000 for a 20% stake, but ultimately, a joint offer from Mark Cuban, Kevin O’Leary, and Lori for $75,000 in exchange for 30% equity was accepted.
Post-Shark Tank Developments
Following their appearance, Flasky Flowers received mixed reactions on social media, with some critics labeling the concept as “irresponsible.”
However, it is believed that their sales doubled post-show, indicating a positive reception among customers.
To incentivize sales, Flasky Flowers offered a limited-time 20% discount on their website shortly after airing.
By October 2022, one year after their pitch, Flasky Flowers raised its retail price by $25, reflecting growing confidence in their product’s market potential.
While specific details regarding the follow-through on the sharks’ investment have not been disclosed, the Moynihans remained proactive in promoting their brand during significant sales events, such as Black Friday.
Financial Standing
As of November 2022, Flasky Flowers is estimated to have a net worth between $300,000 and $500,000.
However, exact figures on annual revenue have not been publicly shared.
Despite the ups and downs, the company continues to thrive, selling its product primarily through Etsy and maintaining a commitment to sustainability and innovation in the event planning space.
