In episode 526 of the Shark Tank on May 2, entrepreneur John Tabis hopes his online flower sales business, The Bouqs Company, will be funded by the Sharks.
The Bouqs Company simplifies the process of ordering flowers online. As Tabis puts it, “ordering flowers online is a pain.”
Unlike other companies, Bouqs Company charges a flat rate of $40 for all bouquets, with no additional shipping or up-sell charges. Fresh flowers are delivered the same day the order is placed.
The Bouqs Company’s main selling point is that it sources and transports all flowers from sustainable Ecuadorian farms located on active volcanoes!
The source-to-consumer concept reduces costs associated with storage, energy, and waste, while sustainable agriculture appeals to people’s “green sensibilities.”
The Bouqs Company has only been operating for approximately two years, but they have recently received funding of $1.1 million.
The Bouqs Company also offers subscription-based flower delivery services that deliver flowers on a monthly or “special occasion” basis, in addition to its flat-fee pricing system.
You will never have to worry about missing an anniversary or birthday again! They’re probably searching for a Shark to help them with cash flow. Look for Bouqs to close a deal on April 4.
What Is The Bouqs Company?
The Bouqs Company is an online flower delivery service specializing in sending bouquets across the United States.
The Bouqs Company is an online flower delivery service that offers flowers worldwide.
You’re in luck if you’ve always wanted to buy flowers but weren’t sure how or thought the process was too complicated. Bouq charges $40 for a collection of flowers.
Bouqs does not charge a fee for shipping. Furthermore, the company cuts the flowers right after they are cut, so you can be sure that your loved ones receive fresh flowers.
Bouqs has recognized the importance of minor touches in the flower purchasing experience. Take the Volcano Collection, for example.
The Bouqs curated a bouquet featuring flowers grown 10,000 feet above sea level in South America, closer to the sun (and therefore more vibrant), and with mineral-rich soil that’s ph-balanced.
It takes 2-4 days to deliver these flowers instead of 10-14 days in other locations.
The Bouqs has also simplified its ordering process – instead of a ten-step process, and it now takes three steps. It is also free from intrusive upsells.
The farms use sustainable, eco-friendly farming techniques and cut only what is needed to sell, as opposed to many other flower dealers who waste one out of every three stems.
Try The Bouqs for an eco-friendly, honest, and friendly online flower ordering experience.
|Company Name||The Bouqs Company|
|Product||Deliveries of farm-to-table flowers|
|Investment Asking For||$258,000 For 3% equity in The Bouqs Company|
|Final Deal||No Deal|
|Episode||Season 5 Episode 27|
|Business Status||In Business|
Who Is The Founder Of The Bouqs Company?
John Tabis co-founded Bouq with Juan Pablo Montufar. Having earned an MBA from UCLA and has worked for Disney beforehand, John had an exceptional educational and professional background.
Juan Pablo was a flower farmer, on the other hand. Juan Pablo serves as Chief Floral Officer at Bouq, while John serves as Chairman.
John Tabis founded Bouq after observing how inconvenient it was to order flowers from online retailers. Thus, he resolved to solve the problem. Juan Pablo developed a product to benefit farmers due to his experience growing flowers.
The couple subsequently founded Bouq, which sources flowers directly from farmers, cutting out all intermediaries.
Bouq can offer flowers at more affordable costs due to this arrangement, while growers receive a higher price for their produce.
Additionally, the organization developed eco-friendly techniques to prevent floral waste. Bouq cuts its flowers solely according to the orders of its customers.
Clients receive flowers when they are still fresh, and no refrigeration costs are incurred.
Given that the Bouq strategy ensures that everyone wins except the intermediaries, it’s no surprise they already got a million-dollar investment before appearing on Shark Tank.
The Bouqs Company Before Shark Tank
Entrepreneur John Tabis founded The Bouqs Company in 2013 after noticing an unexpected issue with other prominent online flower providers.
A common practice for other businesses was to purchase flowers through a mediator, resulting in longer delivery times, fewer fresh flowers, and more wastage for the company.
The idea of having flower farms in Ecuador distribute bouquets directly to recipients came to John, as eliminating time-consuming third parties was a major benefit.
Further, the technique had the advantage of allowing flowers to be cut early to ensure their freshness, and bouquets could be completely customized to fit the customer’s needs.
Additionally, the shop may charge a fixed fee for orders regardless of the type of flowers requested.
He was able to carve a profitable niche among the top names of the industry, aided by Valentine’s Day and Mother’s Day and his on-average four-day delivery schedule compared to his competitors’ ten- to fourteen-day delivery schedule.
The business had exceeded half a million dollars in revenue by May 2014, less than a year after it was started.
The company, however, required funds to finance expansion to expand its sales and services. John applied to Shark Tank for that purpose and was accepted.
How Was The Shark Tank Pitch Of The Bouqs Company?
Shark Tank participant John enters the show seeking a 3% stake in his company for $258,000. The Sharks learn of the inconvenience of ordering flowers online.
The Sharks receive flowers from him, and he explains the situation in Ecuador in his presentation.
Flowers are cut to order and delivered within 5-6 days. According to Robert, most men forget to get flowers until “the morning of.”
The price of a bouquet is $40, and it can be doubled or tripled for an additional $10 or $20. He spent $70,000 on marketing to generate sales of $700,000.
The Sharks are taken aback. After discussing the business, Kevin looks at the numbers; he does not like its valuation.
Mark exits after John discloses that he has received $1.1 million in seed finance from another investor.
In Lori’s opinion, if the idea becomes successful, the “big” flower companies will copy it; she is no longer in the game.
Robert exits, claiming the exorbitant valuation. Barbara despises the moniker; she has withdrawn.
Kevin informs them that they “died today in the Tank; he’s out.
Final Deal: No deal between Sharks and The Bouqs Company.
What Happened To The Bouqs Company After Shark Tank?
Kevin had a rebuttal immediately following his appearance, pointing out that The Bouqs company offered overnight shipping in California to ensure that the flowers arrived in time for his burial.
The Sharks had already declared him dead by that point, so it was too late.
Business appears to be thriving for The Bouqs Company, and John and his staff have undoubtedly put in a lot of effort to make sure it continues to grow despite the absence of a shark partner.
It’s not surprising that a company that has existed exclusively online since its founding remains up-to-date and user-friendly on its social media sites and website, and the amount of content they publish to promote their brand is astounding.
In the last two days, I haven’t come across a gap of more than four hours between posts on Twitter or Facebook. My request for additional information regarding sales was answered within five minutes by the company.
It appears that the Bouqs Company has streamlined their delivery method and, along with it, their customer service system, having previously had some dissatisfied customers, either due to delays in receiving their bouquets or because the flowers were not fresh.
Some customers have complained about late or less-than-fresh deliveries, which is unavoidable when shipping products from a foreign country. Still, the business uses these issues to showcase its outstanding customer service.
The company’s response has surprised several consumers to the point that they have taken to social media to thank the company for its dedication to excellent service.
The company’s website was revamped shortly after the Shark Tank appearance, and the ordering process was streamlined to make it easier for clients to order online.
The increased interest in his brand helped John attract another batch of investors towards the end of 2014, and he plans to grow the business into a floral farm in the long term.
This company may receive another form of recognition in the future, one that dwarfs the free attention it received on Shark Tank.
It was recently announced that Bouqs Business would partner with Trium Entertainment, the multimedia company behind unscripted television shows like Masterchef and The Biggest Loser.
Trium hopes to transform the business story into a reality show chronicling the expansion of the flower farms in Ecuador and the travels of John and his business partners as they scour the globe for the best products.
The Bouqs Company remains to be seen whether or not John Tabis and The Bouqs Company will eventually have their program. Still, even without that notoriety, John Tabis can be rest assured that his business is flourishing, and it’s about as fresh as it gets.
The Bouqs Company Shark Tank Update
Since its debut, Bouqs has generated MILLIONS in revenue.
The website was updated, and an additional California-based grower was added to cope with the growing demand for “overnight” flowers – which the Ecuadorian farm cannot deliver.
Their operations were temporarily halted in 2015 after a volcano erupted, but they were up and running again within a week.
Additionally, the company created a pilot to highlight its eco-friendly business model with Trium Entertainment. It hasn’t been released yet.
Robert Herjavec called Bouqs founder John Tabis in April 2016. Robert requested that John’s company do the floral arrangements for his wedding. Robert bought in Bouqs following the July 31, 2016 event.
He was able to see how the sausages are made and how the firm operates, which sparked his interest in becoming an investor.
We’ll learn about Robert’s involvement with an update in episode 918. The story tells how Robert was so taken with the flowers that he invested.
They raised $55 million in 2019 and have expanded to over 80 people, with locations in Los Angeles, New York, San Francisco, Dallas, Chicago, Washington, DC, and Miami.
Currently, they generate an annual income of $27 million (and growing).
Is The Bouqs Company Still In Business?
There are days when Bouqs Company sells more than one million dollars worth of flowers, and their appearance on Shark Tank was almost certainly a spark.
The Sharks were so large that they jumped at it when they were offered the chance to work at a floral company. Bouquet Bar is a flower delivery service that distributes flowers in custom-designed gift packaging.
Meanwhile, the Sharks frequently regret not being included in The Bouqs Company acquisition.