OGDEN, Utah (ABC4 Utah) - A local company is getting national exposure. We first introduced you to EcoFlower in our Recycle This series in March. Now, after three tries, the company has finally made it on ABC's Shark Tank.
What started as a little business in Megan Bowman's low-income apartment, grew into a small warehouse in West Haven, and now EcoFlower has blossomed so much it requires a 30,000 square foot building in Ogden.
"Originally we just moved in the top floor and then within a couple of months realized that we needed the bottom floor," explained EcoFlower founder Megan Bowman.
EcoFlower sells bouquets made out of book pages, recycled wood and dried roots. The bouquets are so popular the business now sells eco-friendly flowers across the globe.
"My first year of business we did $8,000 in sales, our second year I did one million exactly and then this is our third year and before Shark Tank we were on track to do $5 million this year," said Bowman.
That kind of growth seems like an entrepreneur's dream, but Bowman says all that money that's being made is going back into the business to handle its growth. "I mean when you double in size month to month all the money you're earning the month before needs to go to supplies and then you have payroll and all these other things. So growth has been our biggest problem."
That's why Bowman is asking the sharks for a $400,000 investment in exchange for 10% of the business. "Which I think was an incredibly fair, it was actually a good deal considering what our sales are and our growth rate and everything," said Bowman. "It was a great deal for them and they'd be fools not to take it."
We can't tell you yet whether or not a shark invested, you're just going to have to wait and watch for yourself. Shark Tank airs on ABC4 Friday night at 8 p.m.
For more on EcoFlower log on to: https://www.ecoflower.com/?gclid=CKjUi_mfkNACFQIDaQodvmIF8Q
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