Mod Mom Furniture Shark Tank Update| What Happened to Mod Mom Furniture after Shark Tank
What is Mod Mom Furniture?
Mod Mom Furniture, founded by Kiersten Hathcock in 2006, is a company that specializes in custom-made toy boxes and other children’s furniture.
The company, which started with hand-made goods, has since formed alliances to expand its offerings.
Hathcock, a former marketing professional at A&E and The History Channel, left her successful career to become a stay-at-home mother and start the company.
Who is the founder of Mod Mom Furniture?
Kiersten Hathcock started Mod Mom Furniture in 2006 as a way to earn income after leaving her corporate job to become a stay-at-home mom.
She educated herself in furniture design, found her niche in the market and started creating and selling unique toy boxes and furniture.
The company quickly gained recognition, and was featured in high-end lifestyle publications such as Better Homes and Gardens and Dwell.
Despite the success, Hathcock currently handcrafts all the furniture in her garage and is in need of capital to expand the business through mass manufacturing and retail sales.
What Happened to Mod Mom Furniture at Shark Tank pitch?
On Episode 203 of Shark Tank, Kiersten Hathcock, the owner of Mod Mom Furniture, appears looking for a partner.
She asks for $90,000 in exchange for a 25% stake in her company, which is valued at $350,000.
Hathcock showcases her unique designs, such as the puzzle piece lid, and asks the Sharks to help her grow her business.
Despite her capacity to produce up to three toy boxes per week, she has struggled to keep up with demand and has had to reject offers from merchants in 17 different countries.
The Sharks express mixed opinions, with Barbara Corcoran and Daymond John declining to invest, Kevin Harrington being unimpressed and Kevin O’Leary interested in sales.
Robert Herjavec is impressed and offers $90,000 for 33% ownership, but with a twist, he wants a royalty only once the company reaches a certain level of sales.
Hathcock accepts Robert Herjavec’s offer and the pitch ends with a deal.
What Happened to Mod Mom Furniture after Shark Tank?
Mod Mom Furniture’s appearance on Shark Tank resulted in a significant increase in brand recognition and sales, but the deal with Robert Herjavec ultimately fell through.
Despite this setback, the company was able to expand through financial support from friends and relatives, and later secured a licensing agreement with Stanley Furniture, which allowed for global sales.
However, this arrangement was brief and in 2014, due to personal and professional challenges, the business was put on hold until 2017.
After reconciling with her husband, the company signed a licensing deal with Little Colorado, a kid’s furniture maker in 2018.
In 2020, the company will launch a Frank Lloyd Wright inspired children’s furniture collection and the company will be back in operation in December 2021, with an expected 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 pitch valuation of the company was $350,000, and as of December 2021, it has been generating annual revenue of $2 million, indicating an increase in the company’s net worth.
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?
Customers can contact the company via email address kiersten@modmomfurniture.com.
What is the net worth of Kiersten Hathcock?
Kiersten Hathcock net worth is $15 Million.
