Mod Mom Furniture Shark Tank Update| What Happened to Mod Mom Furniture after Shark Tank
What is Mod Mom Furniture?
Mod Mom Furniture is a company that specializes in custom-made toy boxes and other pieces of furniture. This concept paved the way for a new market in children’s woodworking.
The first goods were manufactured by hand and featured the necessary inventiveness. Along the road, the company has formed several alliances in order to develop its goods.
Kiersten Hathcock launched Mod Mom Furniture in 2006. She quit a lucrative marketing position at A&E to become a stay-at-home mother. She’d also worked for The History Channel and been a TEDx speaker.
Who is the founder of Mod Mom Furniture?
Kiersten Hathcock founded Mod Mom Furniture in 2006. Hathcock sought a source of income after quitting corporate America to become a stay-at-home mom.
She studied furniture design, explored markets, and taught herself how to make and sell unique toy boxes and other furniture.
Mod Mom Furniture was soon featured in high-end lifestyle publications such as Better Homes and Gardens and Dwell.
Hathcock is handcrafting all of the furniture in her garage. She’s worn out with the sheer level of work necessary to keep up with her orders. Her company is already profitable, but she requires capital to take it to the next level – mass manufacturing and retail sales.
What Happened to Mod Mom Furniture at Shark Tank pitch?
Kiersten Hathcock appears on Episode 203 with her Mod Mom Furniture company, searching for a Shark to partner with.
Hathcock joins the Shark Tank asking for $90,000 in return for a 25 percent stake in her firm, which is valued at $350,000.
She shows off the one-of-a-kind design, such as the puzzle piece lid, and invites the Sharks to “help me in developing Mod Mom Furniture the next million dollar furniture firm.” Kevin O’Leary, in classic Mr. Wonderful form, is interested in sales.
Hathcock claims that her sales in the previous year totaled $34,000, despite her capacity to produce up to three toy boxes every week.
She is unable to keep up with the orders. She’s had to reject down offers from merchants in 17 different nations.
Each piece costs her $115 to construct, not considering the time she devotes to the process. It sells for $475, resulting in a reasonable profit margin.
Hathcock narrative has impressed Robert Herjavec. He’d want to hear how they plan to grow the business. In her native state of Ohio, Hathcock has an Amish contact that can produce up to 1,000 units each week.
Barbara Corcoran feels Hathcock overestimated her manufacturing expenses and that the expenditure necessary for success is excessive. She’s goes out.
“I’m terrified of the furniture industry,” says Daymond John. He’s goes out.
Kevin Harrington is aware of another successful Amish company model, but he does not feel Hathcock concept has the same pop. A third shark has escaped.
Only Kevin O’Leary and Robert Herjavec are still around. Kevin O’Leary makes a proposal. He provides $90,000 in exchange for 33 percent equity in the firm, but he demands a 7.5 percent fee on every unit sold until his investment is repaid.
Robert Herjavec stands up, offering $90,000 for 33 percent ownership of the company, but with a twist: he wants the royalty only once the firm reaches a particular level of sales, in order to safeguard the company’s capacity to reinvest earnings.
Robert Herjavec offer was accepted by Hathcock, and the pitch concludes with a deal.
What Happened to Mod Mom Furniture after Shark Tank?
As is frequently the case, Mod Mom’s debut on Shark Tank sent the business into the stratosphere, increasing brand recognition and sales.
Unfortunately, the deal with Robert Herjavec did not go through. Mod Mom Furniture has continued to expand despite the setback. A total of $30,000 was contributed by friends and relatives.
After seeing the clip on HULU in 2012, an angel contacted and offered Hathcock a better bargain than Robert. Hathcock finally obtained a license contract with Stanley Furniture, which allowed her brand to be sold on a global scale. Unfortunately, such arrangement lasted barely two months.
2014 was a difficult year, both emotionally and professionally. She divorced her spouse, and she put the business on hold until 2017.
She did reconcile with her husband, and in 2018, she signed a licensing deal with Little Colorado, a kid’s furniture maker that has been in business for over 30 years.
She will launch the first Frank Lloyd Wright children’s furniture collection in 2020. She also published a book on her experiences as an intuitive who communicates with the souls of molested children. Hathcock did, in fact, collaborate with police to apprehend sexual predators.
The company will be back in operation in December 2021, with annual revenue of $2 million.
Competitors of Mod Mom Furniture
The primary competitor of Mod Mom Furniture is Harlow’s Nest.
Net Worth of Mod Mom Furniture
The company valuation was $350,000 during the pitch, since then the company is still operating with annual revenue of $2 million as of December 2021. This justify that the company net worth had elevated.
Mod Mom Furniture FAQs
What is Mod Mom Furniture?
Mod Mom Furniture is a fun, easy way to furnish your child’s room while creating a unique piece of art. Introducing the new style of play furniture – kid’s furniture that is not simply functional but also beautiful!
Who is the founder?
Kiersten Hathcock is the founder & owner of Mod Mom Furniture.
How much was she asking on Shark Tank?
Kiersten was asking for $90,000 for 25% equity or $350,000 valuation.
Did she have the deal?
Yes, she had the deal with Robert Herjavec for 33% equity in exchange of $90,000, but the deal was never completed.
Is Mod Mom Furniture still in business?
Mod Mom Furniture is still in business and can be found on Instagram
How much is the revenue of Mod Mom Furniture?
As of December 2021, Mod Mom Furniture had annual revenue of $2 million.
How many employees does Mod Mom Furniture have?
Mod Mom furniture has 9 employees as of December 2021.
Where can I buy Mod Mom Furniture?
Customers can visit their website https://www.modmomfurniture.com/.
How does Mod Mom Furniture work?
Mod Mom Furniture is a unique children’s furniture toy box company that has been making custom furniture for over ten years. We pride ourselves on creating one-of-a-kind pieces of art with every design.
What is Mod Mom Furniture’s Story?
Reverting back to the basics, Kiersten realized that most children’s rooms in America have just as much storage space as their adult counterparts.
What are the payment method accept by Mod Mom Furniture?
Payment method is accepted VISA, MasterCard, American Express, Discover, PayPal and Cash.
What is Mod Mom Furniture’s return policy?
Mod Mom Furniture will accept returns of products that have been purchased online within 30 days after they receive the product. They can return their product via mail or in person. Products returned in person must be returned complete and not damaged so that they can re-sell to another customer.
Can I cancel my order?
Yes, if customers want to cancel their order, there will be a $50 restocking fee.
How does Mod Mom Furniture ship my orders?
Mod Mom Furniture usually ships their products with Shippo or UPS.
How can I contact Mod Mom Furniture?
What is the net worth of Kiersten Hathcock?
Kiersten Hathcock net worth is $15 Million.