Foli

Emily Wight, from Burlington, Ontario, asked for $250,000 for 10% of her online plant company Foli. The business ships premium tropical houseplants in decorative pots from its own greenhouse direct to customers across Canada in branded boxes, with plants coming with care instructions and optional personal messages. Average order value is $140, with a cost of about $70 per order; plants like a Bird of Paradise sell around $65 plus shipping. The company has shipped over 25,000 plants and generated $1 million in sales to date, with $560,000 in the last 12 months and a small loss of $50,000, expecting to break even by year end. Projected revenue is $700,000 this year, $1 million next year, and $2.5 million the year after.

All five Dragons made offers. Wes Hall and Robert Herjavec each independently offered $250,000 for 25%. Manjit Minhas and Vincenzo Guzzo teamed up to jointly offer $250,000 for 20%, and Arlene Dickinson and Michele Romanow also jointly offered $250,000 for 20%. Emily Wight accepted the joint offer from Arlene Dickinson and Michele Romanow.

Foli is still operating and sells through its website.