Eco Flower as per the name you can guess that it’s an enterprise that offers Eco-friendly Flowers. Flowers are made from a recycled process with the help of some sustainable resources.
These Flowers look exactly like natural and beautiful flowers but have a very long shelf life as compared to natural ones and can be transported easily because of this with no damage.
These Eco-friendly flowers can be used everywhere as per needs. The enterprise also carries arrangements and events like weddings and others.
Eco Flowers at a glance:
|Business Idea||Eco-friendly Flowers made from a recycled process|
|Asked For||$400,000 for 10% equity|
|Accepted Deal||No Deal|
|Business status||Out of business|
|Episode No||Season 8, Episode 7|
|Buy on Amazon||Buy Now!|
Who is the founder of Eco Flower?
Eco Flower was founded in 2013 by Meagan Bowman. Before that, she was a fitness trainer in a center called French Kiss Fitness. In 2013, she left the fitness field and shifted towards Better City LLC, the firm where she used to manage all major segments such as data analysis, small business development, and community development.
Meagan managed her economic job and eco-business very well. A few years later, she moved into her business full-time. The idea of Eco Flower came to her when she was on her vacation and thought of making flowers through a recycled process and that’s how an alternative to natural flowers came into the market.
Did Eco Flower get a deal on Shark Tank?
Meagan came on the show with a floral solution that lasts forever, she shared that women are getting bored of gift bouquets and waiting for their replacement. She had also brought eco flowers bouquets for all the Sharks. Barbara asked her whether she made all those flowers on her own or not. Meagan said that she used to do it but now she had two manufacturers who made it for her.
Robert asked the lady sharks about how they would feel if a man delivered them Eco flowers. Lori seemed confused but later Barbara and Lori both said that they would prefer actual flowers.
Meagan encounter them and said that they were wrong as women prefer to spend that money on paying bills rather than buying natural flowers that cost very high. Daymond and Mark were convinced by her statement.
Meagan came on the show in search of an investment of $400,000 for 10% of the company. She revealed that she already has an investor who owns 75% of the company which shocked all the sharks. Meagan said she needed shark expertise for the improvement of enterprise production units.
Robert goes out as she won’t have any contact with the business. Lori and Barbara have already spent and are also not interested in these fake flowers and goes out. Mark said he doesn’t have any expertise in this so he goes out. Kevin and Daymond John also move out due to ownership details. No deal was offered.
What happened to Eco flowers after Shark Tank?
After the show, having no deal in hand, created a very difficult time for Meagan. One of her partners left the business and she had ownership of 33% and other partners were having the remaining 67%. Along with these numbers, she wasn’t able to run her business for long and went out of the company.
After 1.5 years, the company was also not able to earn an amount to run the firm which made the Eco flowers business shut down in April 2018. After this, Meagan started a new start-up called Sola wood Flowers with no partners and zero debt. Currently, the business is doing very well and has an annual revenue of $ 5 million.
Eco flowers were made out of Burlap, old book pages, sofa wood and etc. In just 1.5 years, she made sales of $ 2.8 million through her website, and the cost of each bundle was about $59. Meagan came on the show with an ask of a $4 million valuation.
Competitors of Eco Flowers:-
What is the net worth of Eco Flowers?
Meagan came on the show with an ask of a $4 million valuation. Eco Flowers was closed and a new enterprise called Sola Wood Flowers was started which has an annual revenue of $5millions.
Is Eco Flower still in business?
No, it was shut down in 2018. Meagan, who was the founder of Eco Flowers, started a new enterprise called Sola Wood Flowers which is doing good as of 2021.
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What is Eco Flowers?
Eco Flowers are made from a recycled process with the help of some sustainable resources.
Who founded Eco Flowers?
Eco Flower was founded in 2013 by Meagan Bowman. Before that, she was a fitness trainer in a center called French Kiss Fitness.