In this changing and quick world where one has to work for almost 15 hours a day, One may find no time to go to a masseuse to relieve their stress, body pains, and soreness. But you got to have some equipment where if you have no one but can help yourself. Q Flex has a solution for it. A solution to help, relax and soothe your tired muscle.
Q Flex is a self-acupressure device, that is engineered and created to release stress. With the help of the product, one can relax the muscles by applying pressure at specific points on the body. How does it work? It releases endorphins that reduce the pain and increases blood circulation which helps in healing.
You don’t have to worry, Q Flex is not a big machine but A very lightweight, durable, easy-to-use product. The hook-shaped design makes it easy for the users to use it by themselves. The user also gets a natural grip which keeps the hand in the lower position.Â
A glance at Q Flex
| Idea | An easy massager to relax the body pain |
| Founders | Hong Coa and Andrea Coa |
| Asked For | $20,000 For 20% |
| Accepted Deal | $25,000 for 25% |
| Sharks | Barbara Corcoran and Mark Cuban |
| Business status | In Business |
| Episode No. | Season 6, Episode 12 |
| Buy on Amazon | Buy Now! |
Index:
Founder Story:
This company is owned by a mother-daughter duo. Hong Coa worked as a nurse and after her stressful and tiring day, her daughter Andrea would always be her masseuse. It was at this point Andrea thought of developing a tool that could not only help her mother but thousands of people out there who live and suffer through the same problem.
With Andreas’ enthusiasm and Hong’s engineer mind, both the ladies designed a massaging tool that had Chinese massaging techniques that triggered the pressure points and releases the muscles. After a few tests and trials, they created Q Flex.
Did the company get a deal on Shark Tank?
Yes, the company did crack a deal on the show and asked for a $20, 000 investment for 20%stake of the company. This pitch was different from the rest until now. Sharks were way more impressed with Andrea and the way she delivered her pitch.
It nowhere seemed that she was just 13 years old. The sharks were happy with the functions of the product but when it reached sales that were just 800 per unit, they were a little disappointed. But, the young Entrepreneur had an answer to this too. Her come back that she sold this door-to-door blew off the sharks.
Lori’s professional experience led her to back off, and Robert and Kevin O’Leary did too. But there were two more sharks, Mark and Barbara, who still wanted to invest and offered $25,000 for a 25% stake in the company, which the founders were more than ready to accept. And that’s how Q Flex secured the deal on Shark Tank.
What happened to the company after the shark tank?
After the show the company got a huge success, they received 17000 orders that made $500, 000, this was recorded in the segment after the show, beyond the shark tank.
They started to sell it to the retail shops, they faced some issues with this but were able to come back. Today the annual revenue of the company is $3.5 M, it had generated $1.3 Million before its appearance on the show.
The valuation of the company during the pitch was $100, 000, and it remained the same after the deal. However, the company’s valuation has increased since then.
What is the net worth of the company?
The company’s net worth during the pitch was $100,000, and it remained the same after the deal. Since then the company has expanded rapidly.
Is the company still in business?
Yes, the company is in business and flourishing. They have expanded it to the fulfillment center, under the guidance of Barbara, and has also is available on an online shopping platform and local stores.
Social Links:
Do Share Your Thoughts:
Do tell us all your thoughts in the comments section below, we look forward to reading all the comments in the section below.
Also, don’t forget to try our Android app 📱 which contains startup case studies and business book insights 📚 , verified business strategies, and no bullshit!!
Related Articles:
- Who are the Sharks and Guest Sharks?
- FiberFix Shark Tank Update
- Hot Tot Shark Tank Update
- Aquapaw Shark Tank Update
- Petnostics Shark Tank Update
- Lucy Drawing Tool Shark Tank Update
FAQs:
What is Q Flex ?
Q Flex is a self-acupressure device, that is engineered and created to release stress. It is very lightweight, durable, easy-to-use product.Â
What's the net worth of Q Flex?
The net worth of the company during the pitch was $100,000, since then the company has expanded rapidly.
