Wendy’s Gnome Shop Shark Tank Update | What Happened to Wendy’s Gnome Shop after the Shark Tank Pitch?
What is Wendy’s Gnome Shop?
Wendy’s Gnome Shop is a start-up business that offers handcrafted gnomes. The gnomes are cute themselves.
They have lengthy beards and draw their caps over their eyes. They’re constructed entirely of foam, cardboard, wood, and cloth.
Halloween, Easter, St. Patrick’s Day, Valentine’s Day, and, of course, Christmas all have their own gnomes.
Wendy will even create a one-of-a-kind gnome for you. She also intends to provide a “create your own gnome” service in the future.
Wendy’s gnomes bring good fortune and wealth to houses in every state in the United States and a number of international nations.
Each 8-inch-tall gnome is unique; no two are identical. Wendy also offers a Design-A-Gnome option, which allows clients to build their own gnomes by selecting a theme, hat, beard, boots, and decorations.
Wendy’s gnomes are exclusively for indoor usage. Additionally, they are not toys; they include small pieces that are choking hazards for youngsters.
Each gnome ranges in price from $30 to $40, depending on the design. They are manufactured in Charlotte, North Carolina.
Who is the Founder of Wendy’s Gnome Shop?
Wendy holds a Bachelor of Science in Nursing and a Master of Science in Nursing from Western Governors University, a private online university in Utah.
She worked as a registered nurse in a hospital environment before becoming a travel nurse in Florida and California.
She developed a specialty in Labour and Delivery while living in California, eventually becoming an Assistant Nurse Manager and settling in Charlottesville, North Carolina.
It was then that she began her passion of creating gnomes. And, as has been the case with so many entrepreneurs, one thing led to another, culminating in Wendy earning an MBA from Western Governors University and establishing Wendy’s Gnome Shop.
Amber, her daughter, has followed in her mother’s footsteps, first assisting in the delivery of infants and now creating gnomes on a full-time basis.
What Happened to Wendy’s Gnome Shop at the Shark Tank Pitch?
Wendy and Amber appeared on Shark Tank season 13 episode 8 in exchange for $200,000 and a 20% stake in her firm. This equates to a $1 million valuation.
She claims that she creates her gnomes in order to spread happiness. Then she describes the many varieties of gnomes and expresses her enjoyment of “hanging with the gnomies.” When she’s finished, she’ll have personalized gnomes for every Shark except Barbara, who will be called onstage to make her own.
They generate 50% of their sales through their website and 50% through Esty.
The cost of acquiring a customer is around $5. She sells the gnomes for $35 and makes them for $3.50.
Kevin inquires about further gnomes on the market; she confirms, and Kevin is astounded that they sell for $35.
She sold $668,000 worth of merchandise in her first 18 months of operation. She is Etsy’s #1 gnome seller.
Daymond is curious as to how she achieved it. She divorced her husband two years ago. She mends her wounded heart via the creation of gnomes.
She manufactured other ones after the first one sold on Etsy. Wendy began her firm with a budget of less than $1000.
That is something the Sharks adore. She earned $138,000 in net earnings last year. She discusses her nursing background.
Lori inquires about Amber’s mother, and Amber responds that she is proud of her.
Kevin maintains that he does not require a gnome in his portfolio. Lori thinks they’re adorable, but she’s on her way out.
Mark believes the firm is too specialized, and he exits. Daymond is curious as to what she is searching for in a Shark.
She indicates that she requires assistance with SEO and content procurement. Daymond offers $200,000 in exchange for 35%.
Barbara inquires as to why her net earnings are low based on sales yet her profits are being drained by Etsy fees.
Barbara then offers $200,000 in exchange for 30% plus a “buck a gnome.” Daymond responds with $200,000 at 30% + 50 cents every gnome until he recoups his investment.
Barbara Corcoran also made an offer before Wendy could respond. She offered $200,000 in exchange for 30% equity and a perpetual royalty of $1 per unit.
She advised Wendy to de-list her business from Etsy, noting that the majority of income went to fees.
Wendy responds with 25% after Barbara and Daymond quarrel briefly. Both Barbara and Daymond decline. Wendy then departs with Daymond.
What Happened to Wendy’s Gnome Shop after the Shark Tank Pitch?
Wendy’s Gnome Shop has flourished as a result of its appearance on the show. They may purchase some pre-made gnomes on Etsy, but the majority of her work is now sold directly through her website.
She promoted a Shark Tank discount and a special Shark-themed gnome following the show’s premiere date.
Wendy increased her daily gnome sales from 40-50 to over a thousand in the week after the initial show date.
She stated that she, too, would like to operate a business someday.
Wendy’s Gnome Shop Net Worth.
Wendy and Amber appeared on Shark Tank in exchange for $200,000 and a 20% stake in her firm. This equates to a $1 million valuation.
They accepted an offer from Daymond of $200,000 for 30% stake which brings valuation to be $666,666.66.
Wendy’s Gnome Shop Competitors.
There are no competitors identified for Wendy’s Gnome Shop.
Wendy’s Gnome Shop FAQS
What is Wendy’s Gnome Shop?
Wendy’s Gnome Shop is a craft business which sells gnomes.
Who is the founder of Wendy’s Gnome Shop?
Wendy Corcoran is the founder of the company.
How much was they seeking in the Shark Tank?
They sought $200,000 for a 20% stake in the company.
Did they get a deal?
Wendy’s Gnome Shop accepted $200,000 for a 30% stake in the company from Daymond John.
Where are Wendy’s Gnome Shop located?
Wendy’s Gnome Shops is located in Charlottesville, Virginia.
How much does gnome cost?
Wendy’s Gnome Shop sells gnomes for $35.
What episode of Shark Tank was Wendy’s Gnome Shop featured?
Wendy’s Gnome Shop appeared on the season 13 episode 8 of Shark Tank.
Do they ship internationally?
They do ship internationally. The client is responsible for shipping and customs taxes. For instance, the typical cost of shipping a single gnome to the United Kingdom is roughly $15.
What is the height of the gnomes?
The gnomes wearing boots stand around 8.5 inches tall. The tiered dish gnomes are approximately 6.5 inches tall without their footwear. Occasionally, there are 9-inch tall highlighted gnomes without footwear.
What are they made of?
The gnomes with boots are mounted on a styrofoam cone. The tray gnomes without footwear stand on a sturdy cardboard platform with a hardwood foundation.
Do they make garden gnomes?
No, all of their gnomes are decorative for the interior of the home.
Are these gnomes’ toys?
No, these are not children’s toys. They include little pieces that are not suitable for youngsters. They are only decorative.
How much do they weigh?
Each gnome is around half a pound in weight.
Do they offer free shipping?
Domestic orders of $50 or more qualify for free shipping.
When will they get their gnome/shipping times?
Each gnome is individually handcrafted to order. Their gnome will be created and dispatched within ten days after receiving their purchase.
How can they contact them?
When will they get their pre-ordered gnome?
All pre-ordered gnomes will be delivered within three weeks of the holiday with which they correspond.