Everyone deserves a fun beach day, but as soon as we reach for our beach chairs in the garage, we dig out some old, crappy chairs that are uncomfortable and worn out.
The founders of Sunflow have a pretty—and pretty comfortable—solution for that. They tell us that there hasn’t been much innovation when it comes to beach chairs, and they are here to fix that with their patented design!
Husband and wife entrepreneurs Leslie Hsu and Greg Besner pitch Sunflow, their comfortable, easy-to-carry beach chair, in Shark Tank episode 1320. Leslie was a fashion designer and fashion entrepreneur, and Greg is a serial entrepreneur and adjunct professor at NYU Stern School of Business. Leslie still runs three other companies, and Greg is still teaching, but this business is their number one priority.
The couple is from New Jersey and is here at Shark Tank for an investment to help scale their business.
About Sunflow
| Category | Details |
| Founder (Plural if multiple) | Leslie Hsu and Greg Besner |
| Product Type | Easy-to-carry beach chair |
| Funding (Pre-Shark Tank) | Self-Funded |
| Investment Asked | $1,000,000 |
| Equity Offered | 6% |
What Happened on the Shark Tank Episode?
Leslie and Greg enter the Shark Tank seeking $1 million for 6% equity in their business. They clumsily open some old-school beach chairs and then open a Sunflow. They show the accessories, and the Sharks are impressed. Next, the Sharks examine their samples, and Leslie talks about past ventures.
The entrepreneur pair loves the beach and got the idea for a simpler beach chair solution while packing up their beach stuff on a family vacation. The process was cumbersome, to say the least. Leslie wanted to make a friendlier way to pack up for the beach, so she set out to make Sunflow. In 2018, they had everything ready to go after three years of designing the product. The result is an easy-to-open, reclining beach chair that comes in a variety of colors. They have six US patents and 7 international patents.
Each chair is durable and high quality and costs $198. There are a number of attachments like an SPF 50 sunshade, drink holder, dry bag and sunglasses holder. Accessories include a Turkish blanket, towels, water bottles, insulated wine tumblers, beach bags, and more. The couple likely wants a Shark to help them gain broader distribution and marketing.
Sales in 13.5 months are $2.9 million. They expect to finish 2022 with 409% growth. All sales are direct to consumers. Chairs sell for $198 and they cost $70 landed. The drink holder has a 78% margin. Leslie talks about her dad and his entrepreneurial ventures – he passed away a week before the segment taped.
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What Makes Sunflow Unique?
With Leslie’s experience in fashion design, she helped design the product. Since she is a fashion bag designer, they didn’t have to hire an engineer to create the design. After getting married, the couple started a handbag business and created a line of handbags.
- These are completely reimagined premium beach chairs that are big and comfortable. They can be easily folded when not in use.
- The chairs are designed seamlessly, both fashion- and function-wise.
- With the chair, the company Sunflow offers amazing accessories like water-resistant dry bags to protect your valuables from water.
- A drink holder is also included for holding your water bottles. It can rotate and adjust according to your needs.
- The chair has a double-panel canopy that protects you from the heat. It can give up to 98% protection from the harmful heat of the sun.
- Theirs are very easy to open or close. They slide smoothly into the reclining position, too.
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Did Sunflow Get a Deal on Shark Tank?
Kevin questions the valuation and asks if he could double his investment in a year or two. Co-founder Greg says that it is not really possible. Then, Leslie explains that they are working on a lounge and a table that she is designing right now. In fact, they are designing a whole line of similar products.
Daniel likes their story and offers $1 million for 22.5%. Greg says this will be the most successful Shark Tank business; he believes it will be a $100 million company. Greg says he wants a Shark who is in it for the long run. Daniel asks for a counteroffer, and when Greg doesn’t make one, Daniel goes out.
Mark goes out next, saying that while the entrepreneurs have a $16 million valuation, the real question is when they will actually have $16 million in distributable cash.
Barbara thinks they are overconfident and goes out. Lori follows, pointing out that while their sales grew fast initially, that momentum can slow down.
After a break, Mr. Wonderful says he’s struggling with the valuation. He offers $1 million for 4% equity plus a $5 per chair royalty until he recoups $2 million. Greg counters with the same deal but reduces the royalty cap to $1 million. Kevin then counters with $1 million for 6% equity plus the royalty until he recoups $1 million. Greg counters again with $1 million for 5% equity plus the royalty until Kevin recoups $1 million, and Kevin says, “Done!”
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What Happened to Sunflow After Shark Tank?
The Shark Tank Blog constantly provides updates and follow-ups about entrepreneurs who have appeared on the Shark Tank TV show. Once an episode has aired, we track the progress of the businesses featured. Find out if they receive funding or not and report on their progress.
On show night, Kevin Tweeted:
Done! What can I say, I love ambitious entrepreneurs. We’re going to blow this one out the water.
Unfortunately, the deal with Kevin fell through a few weeks after taping the episode. The company raised $3.5 million from its other investors instead. The company shot up to $6 million in annual revenue the year after airing. They’re on 40 cruise ships and over 200 hotels and resorts, with deals pending with Raddisson and Hilton Hotels. By May 2024, annual sales are $14 million, and the company is valued at $48 million.
The Shark Tank Blog will follow up on Sunflow & Leslie Hsu, and Greg Besner as more details become available.
Where Can You Buy It?
Get your hands on Sunflow’s awesome beach chairs on their website and level up your beach days. Forget lugging around those clunky, uncomfortable chairs – grab a Sunflow off Amazon.
Want to know more about the company? Check out their website. They’re also pretty active on social media, so give ’em a follow for updates.
You can find more information about Sun Flow – Beach Chairs on the Shark Tank Blog.
Quick Summary
- Product Features: Sunflow is an easy-to-open, reclining beach chair with various accessories, including an SPF 50 sunshade, drink holder, dry bag, and sunglasses holder. The chairs are durable, high-quality, and come in multiple colors.
- Entrepreneur Background: Leslie Hsu is a fashion designer and entrepreneur, while Greg Besner is a serial entrepreneur and adjunct professor at NYU Stern School of Business. Together, they aim to simplify beach packing with their innovative beach chair design.
- Sales and Growth: Sunflow achieved $2.9 million in sales in 13.5 months, expecting a 409% growth by the end of 2022. The chairs cost $198, with a production cost of $70.
