The best way to relax is to have a beach day. But you may find it difficult to carry bulky folding chairs and umbrellas. The Sunflow Chair is an all-in-one solution to this problem. The husband-wife duo Leslie Hsu and Greg Besner introduced this all-in-one beach gear.
There are a lot of people who want to go to the beach to have some relaxation and enjoy their life. People often go to the beach to watch their children play while enjoying the sight of sitting in the vehicle.
If the beach chair is not relaxing you will not be able to enjoy it fully. Sunflow beach chairs are capable enough to solve this problem and assure you that you will feel comfortable on the beach by using these beach chairs.
Sunflow Beach Chair is a popular beach chair company. The founders pitched their product beach chairs on shark tank season 13 episode 16. After appearing on Shark Tank the founders of Sunflow asked for an investment of $1,000,000 from the sharks. For this, they were ready to give up a 6% stake in their business.
Finally, they were able to secure a deal from Kevin O’Leary. Sunflow net worth in 2023 is nearly $16 million.
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The startup company Sunflow Beach Chair started its journey in January 2018. You may take this portable chair to the beach to have a good feel. You may also get beach chairs, an umbrella, towels and other necessary things from it.
It is designed to give comfort to the people. So, the founders kept in mind various things at the time of making these Sunflow chairs. They used a detachable, portable, and declined feature at the time of making this product.
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Leslie Hsu & Greg Besner set up and developed this startup company Sunflow. The founder, as well as the CEO of the company Leslie Hsu, is a well-known handbag designer. She prefers to go to the beach along with her hubby, Greg Besner and her family.
But one day she felt very uncomfortable. She did not feel relaxed with the beach chair. Keeping this thing in mind, she came up with the idea of designing the cosy and beautiful Sunflow beach chair.
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The history of the founders
Leslie Hsu and Greg Besner live in Short Hills, New Jersey. They both have good knowledge about how to run a business. They have years of experience in running a business. Greg received his bachelor’s degree from Rutgers University. He has pursued his MBA from The Wharton School. His wife, Leslie Hsu has pursued her graduation from Penn State University.
Greg started to serve as an associate at Goldman Sachs. This was his first job. After this, he moved to Merill Lynch and became the Vice President. He has set up two firms in the past namely CultureIQ and Restricted Stock Systems.
Leslie Hsu started her career as a fabric professional at Elie Tahari and Calvin Klein. After that, she started her journey to become a successful handbag designer and a businesswoman. She set up various fashion companies such as Hsu New York, PUNCHCASE, and Leslie Finds.
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How did Sunflow start its journey?
Greg and Leslie were very busy with their work. So, this busy married couple wants to go to the beach regularly to have some relaxation. But they have found that they have to take a lot of preparation to go to their favourite seaside places. Leslie was not comfortable with the quality of their beach chairs at all.
One fine day, the husband-wife duo determined to solve this issue. After thinking a lot, they came up with the idea of making Sunflow. Su flow is nothing but a beach chair that contains a lot of important equipment like a sunglass carrier, a cup holder, and a canopy.
The users will be able to easily fold it, set it up and most importantly they will be able to carry it without any hassle. After putting in three years of effort, they were able to prepare the final product. They introduced the product in 2018. This startup company was able to generate $2.9 million in revenue within one year.
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Sunflow Chair became very successful even before coming up on Shark Tank. The founders of the company were running their startup companies very well. A lot of people started to purchase Sunflow chairs to get a good and cosy experience so that they can enjoy the view of the beach to the fullest. The founder has huge experience in business and she knows very well how to run a business smoothly.
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What occurred to Sunflow on Shark Tank?
The business started by Leslie Hsu and Greg Besner was developing at a rocket speed in 2019. The founders were eager to expand their business to the next level. For this they required funding. They knew that only by appearing on Shark Tank they may find an ideal partner for their business. That is why they came up on Shark Tank season 13 and pitched their product in front of the sharks. They appealed to the sharks to invest $1 million in their company in exchange for a 6% stake in their business.
Though the valuation was very high, the Sharks were motivated after knowing the performance of the business though it was only one year old. They were concerned after hearing about the price point. The founder disclosed that they are selling the beach chairs at $198. But according to the sharks, most of the consumers will not be able to afford this. They thought that the price was relatively higher than the other ones available in the market.
A remarkable thing happened when Hsu in the middle of the pitch disclosed her father’s recent death. Kevin O’Leary got irritated as he was not interested to hear a sad story. So, he instantly told HSU to come back to reality and talk about numbers to bring the pitch back to business.
Among the sharks, guest shark Daniel Lubetzky showed his interest to invest $1 million in the business in exchange for a 22.5% stake in Sunflow Beach Chairs. However, the founders did not accept the offer as they did not want to give up a larger stake in their business.
After that, Kevin O’Leary gave a few proposals. He finally decided to invest $1 million in return for a 5% stake in the business along with a royalty of $5 for each unit. Being a fan of the Shark Tank Show we know very well that Kevin likes to make royalty deals.
Kevin O’Leary was already impressed by the pitch style of the founders. But he was thinking a lot about whether to invest in the business or not.
The founders proposed that they were ready to give up a 6% share of their company if he invests $1,000,000 in the business.
At last, Kevin O’Leary agreed to invest the said amount into this startup business in return for a 5% share in the business along with a royalty of $5 for every sold chair until the founders repay the amount invested by Kevin O’Leary.
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What Occurred To Sunflow Chair After Shark Tank?
Sunflow Beach Chair after Shark Tank started to grow incredibly. People wanted to get Sunflow beach chairs more as soon as the Sunflow Beach Chair shark tank episode aired. Sunflow after shark tank got a huge amount of orders. Due to the incredible increase of Sunflow sales Leslie and Greg had to postpone their travel plans so that they could handle the shipments and deliver the orders properly. But it is a matter of sorrow that despite securing a deal with Kevin O’Leary, the deal did not become successful. However, the company was still doing well.
Though the founders were not able to get $1 million from Kevin O’Leary they managed to raise more than $3.5 million in funding directed by Great Oaks Venture Capital and FOD Capital. Due to this, they were able to increase their sales more on Amazon and their e-commerce store named GetSunflow.com.
People gave 191 positive Sunflow beach chair reviews along with a 4.8-star rating on the company’s website. Sunflow Beach Chair’s revenueis $3-4 million annually and the estimated Sunflow Chair net worth is $16 million.
Considering the weak economy it will be difficult for the company to sell their beach chair at the price of $200 to customers. But as soon as the business developed its production the founders reduced the prices. As soon as the business grows up, the founders decide to launch more products and plan to make Sunflow a famous beach brand.
As soon as Sunflow chair came up on Shark Tank, it got promoted on a national television channel without spending a penny. Due to the show a lot of people came to know about the Sunflow beach chairs.
So, we can say that the Shark Tank appearance came up as a blessing for Sunflow. After the show, a lot of people showed their interest to try this product. That is why they started to make orders. The sales of the company hiked by 4x than the sales of the previous year.
Recently, the company has added a lot of new products like The Towel, Sunnies Cases, Wine Tumblers, Bikini Bags, Dry Bags and so on into their product line to develop the various categories.
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After coming up on Shark Tank, Leslie and Gred pitched their product very beautifully along with an impressive presentation with which they managed to convince the sharks to invest. Kevin agreed to invest in the company in exchange for a royalty deal.
As per the reports, the company has managed to raise nearly $3.5 million in funding from other backers as of November 2022. A lot of people have said that the price of the chair is very high. You may now purchase this beach chair from Amazon.
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You may buy the chair of the Sunflow company by visiting the official website of the company. The selling price of every chair is $198 and you will get them available in different colors. Now the products of the company are also available on Amazon. So, you may also buy the product from Amazon.
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Sunflow Beach Chair Net Worth
The current Sunflow net worth is nearly $16 million. If the popularity of the company grows more and people keep buying the product again and again the company will develop more in the upcoming days. So, we can say that in the upcoming days, the estimated net worth of Sunflow will be $8 million.
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The company started its journey in 2028. Since then the company is doing very well to date. The company is more than 4 years old. The founders encountered a lot of challenges when the Covid-19 pandemic broke out all over the world in 2020. It was challenging for the founders to survive their business in that critical situation and grow their business.
The sales of the company reduced unexpectedly at the time of the Covid 19 pandemic as there was a lockdown. But now the founders are gradually growing their business.
The company is headquartered in Short Hills, New Jersey, United States. The company has appointed 1- 10 people to work in it.
So as of December 2022, the Sunflow beach chair company is actively doing business.
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People have given 191 reviews after using the chair. They have also given a 4.9-star rating out of 5. So, this implies that there are a lot of people who like the chair very much. A few people have described the chair as the best seat on the beach as the chair is made up of rust-proof aluminium. So, users do not need to worry about it getting watered from the sea. This is a compact, cosy and portable product. The product comes with four distinct declining positions so that you may get the best experience with this chair. The product contains a bundle like a chair, a sunshade, a drink holder, and a dry bag.
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Though the founders were not able to make the deal successful the company was not affected. The company developed more after the shark tank episode.
Who are the competitors of Sunflow?
Sunflow has several competitors in the market. Some of them are as follows:
● Tommy Bahama Backpack Beach Chair
● Hurley Deluxe Backpack Chair
Was Sunflow able to make a deal on Shark Tank?
Yes, Sunflow Beach Chair was able to make a deal with one of the sharks Kevin O’Leary after appearing on Shark Tank. But unfortunately, it did not become successful finally.
Who is the Sunflow Beach Chair ideal for?
Sunflow Beach Chair is perfect for those who are ready to spend additional money to get a high-quality and relaxing beach chair for having an outstanding beach experience. This is no doubt a long-lasting product. So you will be able to use it for many years. But if you consider the product by price, the product is not at all designed for everyone.