Sunflow Beach Chairs Shark Tank Net Worth – What Happened After Shark Tank?

Sunflow Beach Chairs Shark Tank Net Worth

Sunflow Beach Chairs is a premium beach brand that appeared on Shark Tank Season 13 Episode 16. The founders, Leslie Hsu and Greg Besner, asked for $1 million in exchange for 6% equity in their company valuing the company at $16 million. 

Kevin O’Leary offered them $1 million for 5% equity plus $5 per chair royalty until $1 million was recouped. They accepted the deal with Kevin, which increased the net worth of the company to $20 million with a royalty deal.

Before appearing on Shark Tank, Sunflow had already been successful. Its sales grew by 4x after being featured on the show.

Sunflow Beach Chairs is still in business and its net worth is valued at $16 million as of 2022. The company has made around $3-4 million in annual revenue. On their website, the beach chairs have a 4.8-star rating from 191 reviews.

Despite being just a year old when it appeared on Shark Tank, Sunflow’s business was performing well. It had made $2.9 million in sales and sold 100% of its product directly to consumers.

What Is A Sunflow Beach Chairs? Who Is The Founder Of Sunflow Beach Chairs?

A Sunflow beach chair is a high-quality, aesthetically pleasing beach chair that is comfortable, durable, easy to carry, foldable, and reclining. It has four recliner settings and comes with attachments such as a canopy, a cup holder, and a bag.

The chair weighs 9.4 lbs with a recommended weight limit of 250 lbs and can be carried like a backpack for easy transport.

It also features an advanced design that makes you feel like you’re lounging on a hammock rather than a clunky, uncomfortable folding chair due to the lack of bar between the backrest and the seat.

The Sunflow beach chair has earned an impressive 4.8-star rating from beachgoers, many of whom called it “life-changing” and “the best seat on the beach”.

Leslie Hsu is the founder of Sunflow beach chairs. She started the company in the summer of 2020 with her husband, Greg Besner, who is a serial entrepreneur.

Leslie Hsu is a handbag designer and has leveraged her design expertise to create a stylish and comfortable beach chair that is portable and durable.

The couple spends as much time as possible at the beach with their two daughters and over the years, they have lamented how hard it is to find a beach chair that meets their needs.

Sunflow’s high-end beach chairs have been successful since they launched online and in a Hamptons pop-up in June 2020. They sold out almost immediately despite costing $198 each. Sunflow’s direct-to-consumer sales generated approximately $2.9 million by July 2021 when Leslie Hsu and Greg Besner pitched their product on Shark Tank.

Leslie Hsu has proven that with perseverance, design expertise, and a strong business plan, you can build a successful company during a pandemic.

What Happen To Sunflow Beach Chairs At The Shark Tank?

During their appearance on Shark Tank, entrepreneurs Greg Besner and Leslie Hsu pitched their Sunflow beach chairs with accessory options, asking for $1 million for 6% equity.

Daniel Lubetzky was moved by the couple’s story, which reminded him of his own father’s struggles. Lubetzky offered them $1 million for a 22.5% stake in their business.

However, they became so engrossed in answering Mark’s questions that they failed to respond to Lubetzky’s offer, causing him to withdraw it.

As a result, the other sharks also declined to invest. Kevin was the only one left, and he proposed to give them $1 million for a 5% equity stake and a royalty until he had earned back $2 million.

They countered with a proposal for a 5% equity stake and a royalty for up to $1 million. Kevin then offered to give them 6% for $2 million, and the couple accepted his original proposal.

The sharks were impressed with the product but expressed concern about the high valuation and the price of the chairs.

Kevin O’Leary made a deal with them for $1 million for 5% equity plus a $5 per chair royalty until he recouped $1 million.

What Happen To Sunflow Beach Chairs After The Shark Tank?

Sunflow beach chairs have continued to grow since appearing on Shark Tank. The company has released more accessories since airing on the show, including a sunglasses case, towel, and bikini bag available on its website.

Sunflow makes around $3-4 million in annual revenue and is worth an estimated $16 million. On their website, the beach chairs have a 4.8-star rating from 191 reviews.

The company started in January 2018 and now is catering to the wild audacious goal they have of close to $16 million. Sales of the Sunflow beach chair have taken off since New Jersey couple Leslie Hsu and Greg Besmer began selling them direct-to-consumer online in 2019.

The couple countered that 60% of their customers purchase every single major accessory for the chair, which pushes the total price closer to $300 before tax.

In conclusion, Sunflow beach chairs are still in business and growing after appearing on Shark Tank. They have expanded their product line with more accessories and continue to make millions in annual revenue.

Is Sunflow Beach Chairs Still In Business?

Yes, Sunflow Beach Chairs is still in business as of December 2022. Sunflow Beach Chairs is a high-end beach chair brand that was featured on Shark Tank Season 13 Episode 16.

The founders of Sunflow, Leslie Hsu and Greg Besner, pitched their product to the show’s panel of investors with the premise that beach chair technology has been stuck in time for decades.

They began selling their chairs at pop-up stores in New Jersey and New York in late 2020 and generated approximately $2.9 million in direct-to-consumer sales by the time the show taped last July.

The sharks were impressed with Sunflow’s sales numbers but expressed concern about the high valuation and price of the chairs. Despite this, Kevin O’Leary made a deal with Hsu and Besner for $1 million for 5% equity plus $5 per chair royalty until he recouped $1 million.

Since appearing on Shark Tank, Sunflow’s business has boomed. The owners have canceled travel plans to manage their workload due to an immediate spike in awareness after millions of people saw their story and product on the show.