Bouquet Bar Is This Close To Losing Their ONLY Deal! | Shark Tank US | Shark Tank Global

David Yusuf, Sal Aziz and Alex Amidi are seeking $150000 for 10% of their designer gift box online platform, Bouquet Bar.

This article is a summary of a YouTube video "Bouquet Bar Is This Close To Losing Their ONLY Deal! | Shark Tank US | Shark Tank Global" by Blossom Flower Delivery

Key insights about video Bouquet Bar Is This Close To Losing Their ONLY Deal! | Shark Tank US | Shark Tank Global

🌹 Bouquet Bar is a luxury gifting platform that combines flowers with other gifts and elegant packaging.

💼 The entrepreneurs are seeking $150,000 for a 10% stake in their company.

🎁 Bouquet Bar allows customers to personalize gift boxes with various items such as chocolates, teas, and flowers through an online platform.

💡 Their target demographic is primarily males and females between the ages of 35 and 55, with a 60-40 split favoring women.

🛍️ The founders have a background in luxury floral design and significant experience in the industry.

🚚 Shipping costs for the product are between $12 to $15 due to the weight and quality of the materials.

💵 The company has invested $600,000 of their own money and achieved close to $100,000 in sales within the initial four months of operation.

📈 There is a significant focus on reducing customer acquisition costs, which was around $60 at the time of the pitch.

👨‍💼 The Sharks were impressed with the product's quality but had concerns about market differentiation and customer acquisition strategies.

🤝 After negotiations, the entrepreneurs accepted an offer of $150,000 for 20% of their company from one of the Sharks.

Timestamped Summary

00:19 Entrepreneurs introduce themselves and their company Bouquet Bar, asking for $150,000 for 10% equity.

00:29 They explain how Bouquet Bar offers an elegant gifting solution combining flowers and gifts in a designer box.

01:18 The Sharks receive samples and are impressed by the presentation and quality.

02:00 The entrepreneurs explain the customization options and variety of gifts available.

02:20 Discussion on the product costs, retail prices, and the company's shipping strategy.

03:01 Background stories of the entrepreneurs and how they started the business.

04:30 Sharks express concerns about customer acquisition costs and competition with similar companies like Sugarfina.

05:55 Lori Greiner feels the business isn't unique enough and exits, followed by other Sharks citing various concerns.

08:22 Mark Cuban digs deeper into the company's finances and operations to understand their strategy.

09:33 The entrepreneurs defend their commitment and readiness to adapt to market demands.

10:01 Mark Cuban makes an offer of $150,000 for 20%, which is non-negotiable.

10:19 The entrepreneurs accept Mark Cuban's offer, and everyone celebrates the successful deal.

11:28 The segment ends with a message prompting viewers to subscribe to the Shark Tank YouTube channel.

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Q&A

What is Bouquet Bar?

Bouquet Bar is an online gifting platform that combines flowers, unique gifts, and amazing packaging for an elegant way of gifting.

How does Bouquet Bar work?

You choose one of their designer gift boxes, select the gifts of your choice like chocolates, organic tea blends or flowers, add a custom note, and send it to someone special.

What differentiates Bouquet Bar from other gifting companies?

Bouquet Bar sets itself apart by offering a combination of designer gift boxes with an option to select from a variety of gifts and flowers, all packaged elegantly.

How much has been invested into Bouquet Bar so far?

The owners have invested $600,000 of their own money into Bouquet Bar.

How long has Bouquet Bar been in operation?

Bouquet Bar has been operational for four months at the time of this presentation.

What are the customer demographics for Bouquet Bar?

The primary customers for Bouquet Bar are males and females between the ages of 35 and 55, with a customer base of 60% female and 40% male.

What are the founders' backgrounds?

The founders come from luxury floral design and digital media technology backgrounds, and one of the founders immigrated to the U.S. at a young age, starting in the floral business.

What kind of corporate connections do the founders have for Bouquet Bar?

The founders have an existing luxury floral design business with sales people who could potentially help in selling Bouquet Bar products on commission.