andn a t bu.r.rBouquet Bar is a unique online gifting platform that is looking for a deal on
Shark Tank Bouquet Bar Update
- Entrepreneurs: David Yusuf, Sal Aziz, and Alex Amidi
- Business: Online Gifting Platform
- Ask: $150,000 for 10% equity
- Result: $150,000 for 20% equity
- Sharks: Mark Cuban
The online gifting platform that David, Sal, and Alex and pitching to the sharks is designed to make gifting more convenient. Customers can pair great gifts with exceptional flowers without having to worry about packaging or shipping. Bouquet Bar allows customers to add gift notes, purchase gift boxes, and add flowers to their orders without little difficulty.
Bouquet Bar had only been operating for about four months at the time of appearing on
The smaller box costs about $20 to manufacture and can be sold to a customer for $50. Shipping costs are about $12 depending on the destination and size of the gift box. The margins on the larger gift boxes were similar.
The sharks became concerned when they realized that the entrepreneurs had placed $600,000 of their own money into Bouquet Bar. They also realized that the company had yet to net a profit in the first four months due to sky-high customer acquisition costs. The average cost to acquire a customer was $60 for Bouquet Bar.
Four of the sharks dropped out quickly, but Mark Cuban was still interested. He decided to make an offer of $150,000 in exchange for 20% equity in the gift box company, and the three entrepreneurs accepted.
However, our current Bouquet Bar update is slightly disappointing, as the company ultimately went out of business in 2019. It’s always sad when a company goes out of business, but with shipping rates on the rise and an incredibly high customer acquisition cost, the numbers likely just didn’t work out.
This will be our final Bouquet Bar update.
You can find the other company updates from Season 9 Episode 19 here:
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Andrew Smith is the founder and owner of Shark Tank Recap. He is a longtime Shark Tank fan that has been watching it for years and has seen every episode multiple times. His friends know him as the Shark Tank expert, because he can answer any question about the show! His favorite Shark Tank products are Bertello's pizza oven and Bug Bite Thing!