Flourish is a sustainable house plant food startup that helps urban consumers (millennials) keep their plants alive with ethically and organically sourced ingredients to keep their plants flourishing.
Flourish is a sustainable house plant food startup that helps urban consumers (millennials) keep their plants alive with ethically and organically sourced ingredients to keep their plants flourishing.
Urban consumers love their houseplants but they lack the right tools to keep them alive.
Revenue:
- Product launched 8 months ago, resulting in 1000+ units sold with over $23,000 in revenue
- Estimated CAC is ~25, LTV of customer is estimated $150, with LTV/CAC sitting at 6:1
- 6% of customers have converted to subscription and an additional 6% have returned for purchase (estimated customer returning timeline is starting at ~3mo after purchase)
- On track for path to profitability in 24 months
Product/Retail Launch:
- 20 wholesale partners have been selling Flourish in retail locations since June across the North East and Texas, 3 of which have sold out of initial inventory. Conversations underway with a national retailer for launch across 15 potential locations.
- 2 products under development for launch in early 2023 which will raise ACV by $50
Reached goal of retailing in 25 stores in 2022.
Sales growth from August to September was 56%, on track for MOM growth from September to October to be over 20% as well.
Flourish Plant Food received certification for use as an organic input through the CDFA (California Department of Food and Agriculture) after strenuous testing and regulation. This ensures our product is safe for both customers and plants. There are no added or synthetic chemicals in Flourish Plant Food - only own Steep Liquor, Fermented Fish By-Products, and Peppermint Oil!
Launched 3-pack of single serving packets for $6. Allows new customers to try product and see results.
Launched in our first 5 stores in Austin, TX.
Raised an additional $75,000 after launch to continue to grow the business, raising a total of $200,000 on SAFE notes with no Value Cap.
National brand launch, website launch, and national launch of Flourish Plant Food, our first product.
Launched Flourish Plant Food product for customer feedback. 250 product sales ahead of national launch.
Launched the business, including all regulatory hurdles and purchasing inventory with$125,000 raised from Friends and Family on a SAFE with no value cap.
Q3 2022 Highlights:
- Total Sales Volume - $23,000 to date, live in 25 retailers with Aug to Sept MOM growth at 56% ($2,695 in sales) and Sept to Oct MOM growth on track for 22%
- Building our advisor team of consumer experts across DTC, retail, and finance - more details to come
- Joined Capital Factory’s “Partners Fund”, an ATX based mentorship program to provide warm intros to angels and advisors
- After connecting with VC firms during Aug and Sept, we have decided to take on angel investors ahead of Q1 2023, with a goal of raising $1M (two commitments forthcoming)
- Exceptional press coverage in The Skimm, Refinery29, Cool Girls Only & The Story of a Brand Podcasts, Martha Stewart Living, Voyage Austin, CNN Underscored, Coolstuff.nyc, Stamford Advocate & Darien Times
