Sunflow Chair has a net worth of $48 million. Kevin O’Leary invested $10 million in Sunflow for a 5% equity along with a royalty deal. Sunflow appeared in season 13 of the Shark Tank and became one of the most successful businesses to come out of the show.
Sales
When Sunflow appeared on Shark Tank, the company was generating $2.5 million in annual sales. During their first year of operations after the Shark Tank appearance, the company’s annual sales shot up to $6 million.
From that point onward, Sunflow has consistently achieved a 25% monthly increase in sales. Currently, the company boasts a monthly sales figure of $1.4 million.
The presence of Kevin O’Leary has greatly facilitated the company in securing new agreements with numerous cruise ships and hotels.
Today, Sunflow’s chairs can now be found on more than 40 cruise ships and in over 200 hotels and resorts worldwide. The company is also anticipated to finalize agreements with both Hilton and Radisson in the near future.
| Sunflow Chair Net Worth | $48 Million |
| Annual Sales Revenue | $15 Million |
| Profits | $7 Million |
| Lifetime Sales | $79 Million |
| Employees | 15+ |
| Investor | Kevin O’Leary |
Profits for Kevin O’Leary
Kevin made an investment in Sunflow, and as part of the agreement, he is entitled to receive a $5 royalty for each chair sold until he recovers his initial $1 million investment.
At present, Kevin has already received $700,000 in royalty payments. Additionally, he has earned $390,000 as his share of profits from his 5% stake in the company.
Sunflow is poised to become one of Kevin’s most successful investments, particularly in contrast to his previous loss in Toor Lockbox.
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Shark Tank Pitch
The couple Leslie and Greg came to Shark Tank asking for a million dollars for 6% stake in their company. Sunflow offers premium beach chairs along with accessories.
It costs them $70 to make a chair and the company sells it for $198. All the sales of the company were direct to consumer when the episode aired on the Shark Tank.
Daniel is the first Shark to offer a deal, asking for 22.5% stake for $1 million investment.
Meanwhile Mark Cuban drops out of the deal citing 6% is too risky and it is going to take ever to recover let alone his money.
Barabara and Lori also drops out, after which Daniel’s offer was rejected. After back and forth negotiations between Kevin O’Leary and the founders, they finally agree on the deal.