Flasky Flowers Net Worth – Shark Tank Update (Season 13)

It is common for women at weddings to hide their drinks while taking photos. Flasky Flowers can help in such situations as the product is a bouquet that hides the wine bottles. Kelly Moynihan invented this product with the support of her husband and they managed to land a deal with three sharks. As of 2024, Flasky Flowers is valued at $400,000.

About the Founder

Ryan and Kelly Moynihan grew up one mile apart in Delray Beach, Florida, where Ryan attended Boca Raton High School and Kelly attended Atlantic High School.

The two married in 2012 and settled in Delray Beach, where they raised their seven children. Ryan worked full-time, but Kelly worked as a hairstylist to help with the finances.

Around 2013, Kelly was hired by a wedding party and noticed that brides and bridesmaids would often put down their drinks to reach for flowers during photo shoots. This gave the Florida native an idea for a new business.

Founding of Flasky Flowers

After the party, the working mom went home and told her husband about a product design she had come up with, a combination of a bouquet of flowers and a beverage container, and Ryan loved it.

The couple sold their home to raise $60,000 for the startup, which launched in 2019. Ryan quit his job to help his wife, who was pregnant with their seventh child. When their youngest was born, she needed heart surgery.

Soon after, the pandemic hit, severely impacting the wedding business, but the vase and bouquet business still generated lifetime sales of $21,000.

Shark Tank Appearance

Ryan and Kelly Moynihan’s business was slow to get off to a slow start, which had a big impact on the family’s finances. They appeared on the show’s 13th season, seeking $50,000 for a 10% stake. The couple arrived in their wedding attire and gave a riveting presentation.

The Sharks loved what made Flasky Flowers unique, but they worried they were sacrificing too much. When you have seven kids, it seemed irresponsible to devote all your energy to a business. The Sharks felt bad for their situation and offered them advice to help them. It was one of the few times Kevin O’Leary let his weakness get the better of him.

Lori Greiner made the first offer: $50,000 for 20% of the company, but Kevin and Mark then invited Lori to join their deal. The three offered $75,000 for 30% of the company, and the entrepreneurs accepted the deal.

After Shark Tank

After Shark Tank, the business made some progress, but no new products were available. Kelly opened an Etsy shop to reach a wider audience and sold 488 items in a little over a year.

They sell directly to consumers through their website FlaskyFlowers.com on the Shopify platform. To increase revenue, the price of the product is increased by an additional $5 to $25. Overall, customer reviews are mostly positive, with an average star rating of 4.7 (out of 55 reviews). Judging from the reviews, some buyers are fans of Shark Tank.

The business, which operates out of their home address, is valued at $400,000. Sales have not been as strong as expected due to a slow recovery in the wedding industry. Annual revenue is estimated at $90,000, according to BuzzFile.com.

Categories: Shark Tank
Source: dut.edu.vn