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Sunflow Chairs Net Worth

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Are you a beach person or a mountain person? Is that the question often asked you? Is your answer a beach person? If it is then we have super comfortable, premium, relaxing beach accessories for you. Sunflow chair is a premium beach brand, specifically beautiful and comfy chairs.

Isn’t it exhausting to pack and unpack your chairs, umbrellas, and other things now and then, if your frequency to the seashore is just uncontrollable? And here’s where Sunflow chairs come to the rescue, the chairs are easy to carry, compact, and very well designed. It weighs 9.4 lbs and can carry the weight up to 250 lbs. The aluminum frame is rust-resistant, and the seat is almost 9 inches above ground level.

The best part of the chair is that one can mold it into four positions and can carry it as a backpack because it is Detachable. But remember, it’s not just chairs but beach accessories. They also sell UPF50+ SUNSHADE, a drink holder, a dry bag, and a free towel. The company was started in January 2018.

Sunflow beach Chairs at a Glance-

IdeaEasy Going, Comfortable and beautiful Chairs
FoundersLeslie Hsu and Greg Besner
Asked For$1 Million for 6% equity
Accepted Deal$1 Million for 5% equity + $5 per chair royalty until $1 Million recouped
SharksKevin O’Leary
Business statusIn Business
Episode No.Season 13, Episode 16
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Index:

Founder Story:

Leslie Hsu and Greg Besner are the founders of the company, Sunflow Chair. The married couple is a beach lover and often visits the beach with their family. Leslie is a handbag designer and has a business out of collaboration with her husband.

One day when their family packed for a walk from the beachside rental to the sanctuary of the sandy beach, it was exhausting and tiring to gather all the stuff and when they unpacked it on the beach Leslie collapsed into the chair which was not at all pretty and not so comfortable and that’s when she had the idea to design and remodify the chair. It was neither easier to carry nor comfortable to sit so they decided to design a more beautiful and thoughtful chair.

See also  What Happened to Super Coffee After Shark Tank?

Did Sunflow Beach Chairs get a deal on Shark Tank?

Yes, the company cracked the deal with Kevin O’Leary. After losing the deal with Daniel, Kevin stepped in and asked for 4% of equity for a million dollars and five bucks per share on royalty until 2 Million recouped.

To this Besner offers the same equity and royalty for 1 Million recouped. After 2-3, counter offers they settle the deal to $1 Million for 5 % equity in addition to a royalty of $5 per chair until $1 Million is paid.

What Happened to Sunflow Beach Chairs after Shark Tank?

After the company was featured on the show its sales grew by 4x. The business is doing well on social media, and the Sunflow Instagram profile now has over 16,000 followers.

  • Their annual revenue today is $3-4 Million.
  • The evaluated worth of the company before the pitch was $16 Million. The net worth of the owners is supposed to be $15.2 Million.
  • The chairs are the company’s specialty but they have a lot more products introduced, They started with chairs, bottle holders, mobile bags, and sunroofs, and now they introduced Towel, Sunnie Cases, Wine Tumbler, Bikini bags, Dry Bag and many more.

Competitors of Sunflow Beach Chairs

  • Tommy Bahama Backpack Beach Chair
  • Hurley Delux Backpack Chair
  • Rio
  • Olius

What’s the net worth of the company?

The net worth of the company after the deal on the shark tank was taken up to $20 Million with a royalty deal, it was $16.67 Million during the pitch. They accepted the deal with Kevin of $1 Million for 5% equity + $5 per chair royalty until $1 Million was recouped.

Is the Company Still in Business?

Yes, the company is still in business. Though the covid period was a little difficult for the company, sales dropped due to the lockdown. But the business is intact and the sales are supposed to be increased and the net worth is to be increased by $8 Million.

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FAQs:

What is Sunflow Chairs ?

Sunflow chair is a premium beach brand, specifically beautiful and comfy chairs. The best part of the chair is that one can mold it into four positions and can carry it as a backpack because it is Detachable. But remember, it’s not just chairs but beach accessories.

What's the net worth of Sunflow Chairs ?

The net worth of the company after the deal on the shark tank was taken up to $20 Million, it was $16 Million during the pitch.

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