Wine & Design Shark Tank Net Worth 2023

In an episode of Shark Tank from Season 8, Patrick and Harriet Mills appeared seeking an investment of $500,000 for a 10% stake in their company Wine & Design which they valued at $5 million.

Kevin O’Leary showed interest and offered them a line of credit worth $350,000 at a 12% interest rate plus an additional $150,000 for a 10% stake in the company resulting in a valuation of $1.5 million.

According to various online sources, Wine & Design’s net worth has increased significantly since appearing on Shark Tank. Its current valuation is estimated to be around $9 million, and the founders Patrick and Harriet Mills have a net worth of $7.2 million USD as of 2022

What is Wine & Design? Who is the founder of Wine and Design?

Wine & Design is a company that operates as a franchise and was founded by Harriett Mills. Its focus is on creating a fun and creative environment for people to enjoy while bonding with loved ones and learning how to paint.

The company offers two-hour workshops, during which customers can bring their own beverages and receive guidance from an instructor as they create their own pieces of art.

Harriett Mills, the company’s founder, studied Business and Corporate Communications at Peace College and currently serves as CEO of Wine & Design. Her partner, Patrick Mills, serves as CEO of Capital Sign Solutions.

The idea for the franchise came about when Harriett Mills was taking an art lesson with her friend Emmy Preiss. Together, they managed the flagship Wine & Design business in Raleigh, North Carolina for two years before deciding to expand and turn it into a franchise.

With 76 franchise locations, Wine & Design is the leading company in its industry on a national level. North Carolina alone boasts 25 of its own franchise locations. The cost of becoming a franchisee ranges from $50,000 to $100,000, including a franchise fee of $25,000.

It’s important to note that depending on the location, franchisees may need to obtain a license for the Bring Your Own Beverage (BYOB) aspect, which could add additional costs and time to the operation of the franchise.

What Happened to Wine & Design at the Shark Tank Pitch?

Patrick and Harriet appeared on Season 8 Episode 24 of Shark Tank in search of a $500,000 investment in their business, Wine & Design, in exchange for a 10% ownership stake.

Their business was valued at $5 million. During the show, they were accompanied by a painting professor and a male model who posed nude for their painting sessions. However, Barbara was uncomfortable with the model’s presence and decided not to invest.

At the time of the show, Wine & Design had 74 franchise locations spread across 14 different states. Prior to expansion, the company had earned $250,000 in just nine months. In 2016, the business made $10 million in sales, with projected earnings of $12-13 million for the following year.

Despite being pitched by Mark Cuban, Barbara Corcoran, and Lori Greiner, all three declined to invest due to concerns about the company’s growth potential.

Kevin O’Leary offered to invest $150,000 in exchange for a 10% equity stake and a $350,000 loan at 12% interest. Robert Herjavec offered to invest the full $500,000 in exchange for a one-third ownership stake.

In the end, Patrick and Harriet decided to accept O’Leary’s offer and go into business with him. They hoped that his social media influence and connections to his own wine company would help Wine & Design to grow.

What Happened to Wine & Design after the Shark Tank Pitch?

In 2014, Mills and Emmy Preiss, who had been partners, decided to part ways. Preiss kept ownership of the original facility, while Mills retained the rights to the franchise program.

However, Preiss later filed a lawsuit against Mills, claiming that she was coerced into signing paperwork that excluded her from the company. Despite these legal disputes, the business continued to thrive and expand, with 82 locations/franchisees by the end of 2019.

In February 2020, the company made an appearance on Shark Tank and was recognized for having one of the most successful pitches. As of November 2021, the company was still growing and expanding, with new franchisees joining the network, and a projected yearly revenue of $8 million.

Table: Wine & Design Shark Tank Summary

METRICS	FIGURES
Valuation	$5 million before Shark Tank
Valuation after Shark Tank	$1.5 million
Current Valuation	$9 million
Founder	Harriet Mills
CEO	Harriet Mills
Co-Founder	Patrick Mills
Net Worth	$7.2 million as of 2022
Franchise Cost	$50,000 to $100,000
Franchise Fee	$25,000
Franchise locations	76 franchise locations in the USA
Competitors	Pinot’s Palette, Paintlounge, SunDust Gallery, The Paint Mixer, 4Cats Arts Studio, Airigami, Zanzi, Moseley Studios.

Note: Wine & Design’s net worth is estimated based on various online sources.

What is the net worth of Wine & Design?

In an episode of Shark Tank from Season 8, Patrick Mills and Harriet Mills appeared seeking an investment of $500,000 for a 10% stake in their company, which they valued at $5 million.

They ultimately accepted an offer from Kevin O’Leary, which consisted of a $350,000 line of credit at a 12% interest rate and an additional $150,000 for a 10% stake in the company.

This resulted in a valuation of $1.5 million for the company. Since that episode, the company has grown, and its current valuation is evidently higher than it was at that time.

Who are the Competitors of Wine & Design?

Pinot’s Palette, Paintlounge, SunDust Gallery, The Paint Mixer, 4Cats Arts Studio, Airigami, Zanzi, and Moseley Studios are among the top Wine & Design competitors.

Wine & Design Shark Tank Updates

Wine & Design is a franchised art studio that encourages people to drink while painting. The company appeared on Shark Tank during the Season 8 finale.

Co-founders and CEOs, Harriet and Patrick Mills, pitched their idea of a franchised wine-encouraged art studio where people can drink while painting.

They asked for $500,000 for 10% equity and received $500,000 for 10% with $350,000 as a line of credit at 12% interest from Kevin O’Leary.

With a valuation of $5 million, the Mills had their work cut out for them. However, after explaining how Wine & Design worked to the sharks, they had the numbers to back up their high valuation.

To date, Wine & Design is one of Kevin O’Leary’s biggest and most successful investments on Shark Tank. Over the two years following Shark Tank, Wine, and Design continued to grow and expand its franchise locations.

The company already had multiple franchise locations, all of which were owned by women. Co-founder and CEO, Harriet Mills, alongside her husband, Patrick Mills, flew out to LA to share their successful growth by providing an inside look at their current business model with Wine & Design.

Wine & Design FAQS

What is Wine & Design Shark Tank?

Wine & Design is a franchise that offers art classes for adults where wine is allowed. The company was founded by Harriet and Patrick Mills, who appeared on Shark Tank in Season 8.

During their pitch, they asked for $500,000 for 10% equity in their company, which had a valuation of $5 million. They had the sales and franchise locations to back up their valuation, with all of their locations being women-owned.

The Sharks were impressed with their sales, which were expected to reach $10 million in annual revenue with a projection of up to $13 million the following year.

After explaining how Wine & Design worked to the Sharks, they received an offer from Kevin O’Leary for $500,000 for 10% equity and a $350,000 line of credit at 12% interest. The Mills accepted the offer, and Wine & Design continued to grow.

As of 2023, the company has 76 franchisees nationwide, with 25 franchises in their home state of North Carolina. Their sales were $10 million in 2016, with a projection of $12-13 million for 2017.

Wine & Design’s appearance on Shark Tank helped to increase its visibility and grow its business. The Mills continue to run the company, with Harriet serving as CEO. They have also shared their experience and journey with Shark Tank on their website.

How does Wine & Design Shark Tank work?

Wine & Design is a franchise that offers art classes for adults where wine is allowed. The franchise was created by Harriet Mills and Emmy Preiss, who ran the flagship Wine & Design shop in Raleigh, NC for two years before launching the franchise concept.

The company has 76 franchisees nationwide, with 25 franchises in North Carolina alone. The studios offer fun nights out, birthday parties, team-building events, and more.

In Season 8 Episode 24 of Shark Tank, Patrick, and Harriet Mills appeared seeking $500,000 for 10% of their business. They had a male model who stripped naked for the painting session and one of their painting instructors with them.

The Sharks were impressed with the company’s sales and franchise locations, all of which were women-owned.

The Mills had a valuation of $5 million and projected $10 million in annual sales with a projection of up to $13 million the next year. Kevin O’Leary invested $500,000 for 10% equity with $350,000 as a line of credit at 12% interest.

Since appearing on Shark Tank, Harriet Mills has continued to work as the CEO of Wine & Design, and the company claims that its sales revenues have grown between 35% to 47% every year since 2011. The company has also shared its Shark Tank journey on its website, including an inside look at its current business model.

What happened to Super Potty Trainer after Shark Tank?

Super Potty Trainer is a product that provides back support for children between 2 to 6 years old who cannot sit on toilet seats. The product has a steady back support that allows the child to sit directly on a toilet from day one, and it has non-skid pads to adjust them steadily.

The product was pitched on Shark Tank Season 12 Episode 25 by Judy Abrahams and Chris Guerrera, who asked for a $300,000 investment for 10% equity. Daymond John and Lori Greiner invested $300,000 in a 50% share of Super Potty Trainer.

Super Potty Trainer is still in business and selling its products through various online and offline platforms. Its valuation increased from $600,000 at the time of the Shark Tank appearance to approximately $1 million.

The product is being sold on Amazon and its official website and it is also being sold in Walmart. The net worth of Super Potty Trainer is estimated at $500,000. The product has received many positive responses on Amazon.

Is Wine & Design Shark Tank still in business?

Yes, Wine & Design is still in business. After appearing on Shark Tank in Season 8, Wine & Design grew rapidly. Harriet Mills continues to work as the CEO of Wine & Design, with the company claiming that its sales revenues have grown between 35% to 47% every year since 2011.

As of November 2021, the company was still adding franchises and had an estimated annual revenue of $8 million. Wine & Design has over 80 locations in 22 states. The company offers fun nights out, birthday parties, team-building events, and more.

In 2017, Wine & Design experienced a major brand milestone when it was featured on Shark Tank.

After causing a stir with the sharks by bringing on a nude model for the mock class, Mills received competing offers from Robert Herjavec and Kevin O’Leary. She ultimately selected O’Leary, who remains a partner in the brand.

What is the current valuation of Wine & Design after Shark Tank?

After appearing on Shark Tank in Season 8, Patrick and Harriet Mills received a $500,000 investment from Kevin O’Leary for a 10% stake in their company, Wine & Design, which they valued at $5 million.

The company was expected to do $10 million in annual sales with a projection of up to $13 million the next year. All of their locations were women-owned, and they had a trajectory to do $10 million in revenue.

Wine & Design is a paint-and-sip experience that allows customers to drink, relax, and get creative. The company already had multiple franchise locations at the time of its Shark Tank appearance, all of which were owned by women.

Wine & Design also has one of the lowest franchise fees in the paint-and-sip genre at $25,000, and its initial investment range is between $69,000 and $98,000.

There is no information available on the current valuation of Wine & Design after Shark Tank. However, the company has continued to trend upward since its appearance on the show.

Who is the Founder of Wine & Design?

Harriett Mills is the founder of Wine & Design.

How much were they seeking in the Shark Tank?

Harriett Mills and her partner Patrick Mills sought $500,000 for 10% of their company (a $5 million valuation).

What is the Website for Wine & Design?

The website for Wine & Design is www.wineanddesign.com

Did they get the deal from the Sharks?

Yes, they accepted an offer from Kevin,

How much was the deal?

Patrick and Harriet received $150000 for the 10% equity, as well as a $350,000 loan at a 12% interest rate until they can pay it off.

Is Wine & Design still in business?

Yes, the corporation was still adding franchisees in November 2021 and had a projected yearly revenue of $8 million.

How many franchise stores are there?

As of the end of 2019, there are 82 locations/franchisees.

When is Wine & Design located?

Wine & Design is located in Raleigh, North Carolina.

What Is the Cost of a Wine and Design Franchise?

To own a Wine and Design franchise, you must have at least $50,000 in cash money and a net worth of at least $70,000.

Franchisees can anticipate to invest between $66,800 and $165,000. Wine and Design costs a $25,000 franchise fee.

How much are the monthly royalties?

Their royalty rate is 6% of monthly gross sales. There is also a 2% marketing charge that goes into a Marketing and Advertising fund that is strictly utilized for marketing efforts that benefit franchisees.

Are royalties collected on alcoholic beverages sold?

No. They do not collect royalties on alcoholic beverages sold.

Is Wine & Design financing available?

They certainly do! At the moment, they do provide financing for the franchise price.

They advise them to consult with their financial counsellor or banker to evaluate which financial arrangement is ideal for them.

How much long would it take to launch a franchise?

This varies. It usually takes 3-8 months from signing the franchise deal to opening their doors.

Because of the alcohol licenses, this is a broad spectrum.

If they live in a place where BYOB is permitted, they will have a shorter schedule than if they live in a state where they must receive a license.

What is cost of Wine and Design per glass?

According to the franchise website, each bar will be set to $35 per person.

What episode of Shark Tank is wine and design?

The Episode is Shark Tank Season 8 Episode 24.

What Happened to Wine and Design after the Shark Tank?

Kevin’s transaction was completed. Emmy Preiss, Mills’ former partner, and Mills agreed to separate in 2014.

What is the net worth of Harriet Mills?

Harriet Mills’s net worth is unavailable.