3 Details To Know About FlyWithWine From Shark Tank
Those returning from their visits to wine country have long faced the dilemma of how to bring their flavorful finds back home. Those concerns may finally be a thing of the past with FlyWithWine. The company's innovations in wine travel technology have earned it a rising place within the industry, which has aided in getting the team noticed by "Shark Tank."
FlyWithWine specializes in creating suitcases and other travel materials to store your wine with ease and style. The business' biggest breakthrough came in the creation of the VinGardeValise (VGV) suitcase, which quickly gained traction after being showcased in various wineries across Napa, California. Since then, the company has seen significant growth, with its products currently being available in over 500 breweries, tasting rooms, and retailers. Additionally, FlyWithWine has broken into different international markets including China, Brazil, the United Kingdom, Canada, and more.
This Friday will see a different group of wine connoisseurs give FlyWithWine a try as the company makes its debut on "Shark Tank" Season 15. It's a tough crowd to please as Sharks such as Kevin O'Leary take their wine very seriously. So does FlyWithwine have what it takes to make it through the tank?
The business stemmed from an irritating moment for its co-founder
FlyWithWine got its start in 2016 from the minds of two individuals who have had fruitful careers in the wine industry. CEO and chief marketing strategist Ron Scharman had well over a decade of experience in managerial and executive positions before diving into the wine space in 2001. Since then, Scharman has held numerous top-tier roles at companies such as New Wine Logistics, eWinery Solutions, and Chatterbox Wine Marketing Services, as well as being an instructor at Sonoma State University Wine Business Institute. Ryan Neergaard serves as FlyWithWine's director of business development. Neergaard has vast experience in the realm of marketing and management, having worked for operations such as Astra Digital, Chatterbox Wine Marketing Services, and Napa Valley Wine Train to name a few.
Scharman was inspired to create FlyWithWine following an unfortunate annoyance while on vacation. While on a trip to Burgundy, France, he came across a winery with an exceptional selection. He was unable to bring any home, however, as Scharman's only options would have been to ship them through the local mail service through unknown conditions or risk them being damaged in the cargo of the airplane. Knowing that there had to be a better way, Scharman and Neergaard, both of whom were working at Astra Digital at the time, set out to build a suitable solution. Working with a New Mexico-based designer, they invented a prototype and officially launched the business in 2016.
The company sells more than suitcases
Over the years, FlyWithWine has grown exponentially, with an ever-expanding list of retail and wholesale partners that use and sell its items. The company was even recently included as one of the select few businesses in a special Napa Valley edition of the hit board game Monopoly. While best known for its luxurious and durable selection of suitcases, FlyWithWine also produces other essential storage and travel items including backpacks, box carriers, and glass-carrying cases. Additionally, the company sells an assortment of accessories such as chiller sheets and bottle opener sets.
More recently, FlyWithWine introduced a new nifty storage item to its roster, and 2022 in particular marked the launch of its sister company, WineHive. Created by industrial designer John Paulick, the wine storage system takes inspiration from the intricately designed honeycombs created by bees to provide users with a simple, stylish, and effective method to keep their drinks organized. The product fits easily on any wall, countertop, or coffee table, with FlyWithWine even offering custom installation services for customers with a specific vision in mind.
Being on Shark Tank has been a longtime goal for the team
FlyWithWine has worked hard to get to where it is today. Its innovative designs and products consistently keep the team ahead of the game, making FlyWithWine a leader in its respective space. Whether or not this prestige helps the company score a deal on "Shark Tank" hardly seems to be a concern, as the presenters are simply delighted to have been included in the long-running ABC program to begin with.
In an interview with The Press Democrat, co-founder Ryan Neergaard, a longtime watcher of "Shark Tank," expressed what it meant for him to finally make it on the show. "It felt like making the Super Bowl," Neergaard stated. "Ever since day one, when Ron [Scharman] and I started this company, I've just been like 'man, this product has 'Shark Tank' written all over it.'"
While prior wine-based companies such as Copa di Vino and Zipz Wine have had notoriously tough times pleasing the sharks, FlyWithWine might offer a refresher. Unlike beverage-producing businesses that often have a difficult time navigating the competition, the company has carved out a special market for itself that it has already proved to have an upper hand. At most, we expect Kevin O'Leary or another Shark to bring up the potential for licensing opportunities. Until we find out, you can learn more about FlyWithWine by visiting its website or shopping for its items from retailers such as Amazon and Dillard's.
What happened to FlyWithWine on Shark Tank?
Ryan Neergaard and Ron Scharman immediately hit the tarmac running during their "Shark Tank" appearance. The entrepreneurs quickly stun Robert Herjavec and make Kevin O'Leary slightly chuckle with their offer: $500,000 for only an eight percent equity. The latter is known for being a wine lover, so he quickly gets down to brass tacks. He challenges the duo for their high evaluation; Scharman defends it, claiming the business has achieved nearly $20 million in sales.
Scharman and Neergaard's kryptonite appears to be the advertising costs plaguing their profits. They also note their respective salaries of $150 thousand a year. Surprisingly, the Sharks don't jump on them for this. Another aspect that goes against FlyWithWine is that there's another investor who owns 20% of the company (though the deal appears to be temporary). Finally, the retail cost for the company's signature suitcases is daunting, with some of the less expensive ones still marked with a hefty $290 price tag.
Sadly, all of these variables appear to stack up against FlyWithWine and cause their presentation to falter. While Lori Greiner seems to like the product, she doesn't see much hope for big profits. Herjavec and guest Shark Emma Grede pull out for similar reasons, not liking the company's licensing deals regarding their suitcases. Kevin O'Leary and Cubes — just kidding, don't ever call Mark Cuban that — also have strong reservations and back out. Scharman and Neergaard have to exit "Shark Tank" without a deal.