FlyWithWine Net Worth 2024 Update & Their Shark Tank Pitch!

FlyWithWine, a safety luggage product to transport wine founded by Ron Scharman and Ryan Neergard, aired on the 15th season of Shark Tank USA in 2023. The founders were seeking $500,000 for 8% equity for their business. Unfortunately, they couldn’t secure a deal with any of the Sharks. In this article, we will explore FlyWithWine’s net worth in 2024, its Shark Tank pitch summary and more.

FlyWithWine Net Worth

As of 2024, FlyWithWine’s net worth is estimated at $3 million, and its annual revenue was $2.3 million in 2023. 

FlyWithWine Net Worth Timeline

Shark Tank FlyWithWine Update from Season 15

Entrepreneurs Ron Scharman and Ryan Neergard appeared on Shark Tank Season 15 to pitch their company, FlyWithWine. They asked for $500,000 in exchange for 8% equity, valuing their business at $6.25 million. In the Shark Tank, they explained the background of their product. 

Their love for wine inspired them to create a solution for wine lovers who want to bring bottles home after visiting vineyards worldwide. This led to the creation of FlyWithWine’s main product, the VinGardeValise, a suitcase designed specifically for carrying wine bottles. 

The VinGardeValise helps travelers pack wine bottles safely while leaving space for clothes and other personal items. Depending on the model you choose, the suitcase comes in three different sizes and can hold three, five, or eight bottles.

FlyWithWine also offers another product called the VinXplorer, which is a bladder bag that holds up to two bottles of wine. With its 1.5-liter bladder and spouts, users can easily store and enjoy their wine on the go. The addition of wine bottles in the VinGardeValise and the ability to remove wine from the bladders in the VinXplorer feature highlight the smart design of these bags. This convenience and versatility make FlyWithWine’s products a top choice for wine enthusiasts and travelers.

At that moment, Lori Greiner wasn’t satisfied and asked why the company still wasn’t making a profit. Ron quickly responded and explained that their company had made $19 million in sales over its lifetime. He also mentioned that more than 50,000 travelers had purchased their luggage.

Additionally, they said that in the 12 months leading up to the filming, the company made $5.6 million in sales but faced a loss of $47,000. Further, they added that so far this year, they’ve generated around $2.3 million in revenue.

The sharks liked the company’s revenue but were concerned about the net loss. Mark Cuban asked if they spent a lot on marketing. Ron confirmed that FlyWithWine had spent $400,000 on ads in 2022 as part of an aggressive campaign. At that moment, Lori Greiner wasn’t satisfied and wanted to know why the company still wasn’t making a profit.

Ron explained that they reinvested much of their earnings into the business and took $150,000 in salaries each. He added that they had to spend money on one-time expenses during the COVID-19 pandemic. Also, they said that in 2023, FlyWithWine paid $100,000 to attend 13 trade shows across the U.S.

Next, Guest shark Emma Grede asked about their backstory. Ron shared that in 2015, he and his wife traveled to Burgundy, France, and bought some wine. Shipping the wine home was a big hassle for them, and receiving it took over a month. Afterward, Ron started looking for a solution and finally found someone in Mexico making wine luggage. 

Then, Ron contacted him and successfully negotiated a deal to sell the product exclusively in the wine industry. He added that he invited Ryan to join him as a business partner after that. At that moment, Emma pointed out that they were only licensing the luggage and didn’t create it. In response, Ron explained that one of their investors, a woman with experience in manufacturing, importing, and supply chain management, bought the intellectual property from the original creator. Further, he added that she invested in FlyWithWine and owned 20% of the company.

Kevin then asked who owned the patent. Ron clarified that the patent was under the investor’s name, but they used the patented design for their suitcases and backpacks. The agreement was for ten years with an option to renew.

Lori asked for a breakdown of the selling prices and costs. There, Ron explained that the VinGardeValise sold for $379.95 for the 12-bottle version, $339.95 for the 8-bottle version, and $289.95 for the 5-bottle version. 

Mark Cuban felt the business was too difficult to scale profitably and decided not to invest. Robert Herjavec disliked the licensing model and doubted he would make his money back, so he also declined. Emma agreed with Robert and decided not to invest as well. 

However, although Lori Greiner liked the product, she worried too much about its lack of profitability to invest. She also decided not to invest. Kevin had similar concerns as the other sharks and decided not to invest. As a result, Ron and Ryan left Shark Tank without a deal.

Summary of the Sharks’ Deal List!

What Happened to FlyWithWine after Shark Tank?

As of September 2024, FlyWithWine is still in business. While Ron and Ryan didn’t secure a deal from the Shark Tank, the episode has brought about a positive turn for the company. Post-show, FlyWithWine experienced a significant boost in sales, with Ron reporting a remarkable increase of over $50,000 in just four days following the episode’s airing. Ron described their Shark Tank experience as a significant milestone, saying it felt like a lifetime achievement. 

FlyWithWine’s products are now available in over 500 locations, including wine-tasting rooms, specialty shops, breweries, airports, and distilleries across the US, Europe, Canada, Australia, China, and Brazil. They are also sold in major retail stores like Macy’s, Neiman Marcus, and Williams Sonoma.

Customers can also purchase products online through Amazon and their website, FlyWithWine.com. The VinGardeValise suitcases range from $289.95 to $379.95, and VinXplorer backpacks are priced between $159.95 and $199.95. Their $379.95 suitcase is the top seller on Amazon, with a 4.4-star rating from 330 reviews. Besides suitcases and backpacks, FlyWithWine also sells glassware, wine storage solutions, personal carriers, and accessories.

FlyWithWine Founders

Ron Scharman and Ryan Neergard are the founders of FlyWithWine, which started in 2016. Ryan Neergard, FlyWithWine’s director of business development, is a big fan of Shark Tank. He has 13 years of experience in wine and destination tourism marketing and is focused on growing the company through strategic business development and excellent customer service.

Ryan also earned his Sommelier Certificate from the Court of Master Sommeliers and has worked in prestigious Napa dining establishments. He has a Bachelor’s degree in Business Administration from Pacific Union College and worked in the public relations sector and media before joining FlyWithWine. For the past seven years, he has focused on making wine travel more accessible and boosting Fly With Wine’s sales. He has achieved significant milestones, including expanding the client base and creating effective sales strategies. 

The CEO, Ron Scharman, has a more extended history in the wine industry. He has been involved in the wine industry for over 20 years, including eight years as an instructor at  Sonoma State University Wine Business Institute and building connections with industry leaders. He holds an MBA in Finance and a BS in Agricultural Economics from Cornell University. Ron describes running Fly With Wine as a 24/7 challenge but enjoys it as part of his passion for traveling and experiencing great food, wine, art, history, and culture.

FlyWithWine Achievements and Awards

Conclusion

Shark Tank is a TV show that showcases different business ideas and helps them succeed. The show featured FlyWithWine as one of the ventures. Despite losing the deal, the company showed that success is possible with the right idea and execution. Now, we eagerly await to see how their success story unfolds in the future.

Before you leave, check out the other company updates in Season 15, Episode 09. 

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