What Happened to Eggmazing Egg Decorator After the Shark Tank Pitch?
What is the Eggmazing Egg Decorator?
The Eggmazing Egg Decorator is a kit for decorating Easter eggs that eliminate the odor and mess associated with traditional Easter egg decoration.
It does not include any colours or vinegar. Simply set a hard-boiled egg on a battery-powered egg holder, which spins the egg while the user decorates it with the different coloured markers offered.
Who is the Founder of the Eggmazing Egg Decorator?
Co-founders Curtis McGill, Chief Financial Officer, and designer and CEO Scott Houdashell created the Eggmazing Egg Decorator.
Scott had always enjoyed carpentry, which he honed while working as a remodelling contractor for a family-owned apartment complex.
Curtis is also an investor, aiding Texas companies ranging from hair salons to restaurants to real estate.
Both people will remain on the board of directors of the corporation.
Scott Houdashell of Amarillo, Texas, was watching his nieces and nephews decorate eggs right before Easter in 2015 when he saw how much mess all the colours, glitter, and other decorations were making.
He reasoned that there must be a less messy but still entertaining way to colour Easter eggs. His first prototype was constructed with a screwdriver, a hot glue gun, and a spoon!
It worked, but it didn’t look to be much fun, and it wasn’t very user friendly, especially for children.
Scott spent the rest of the year creating prototypes and had a working model by the spring of 2016.
A hard-boiled egg is spun around in the brilliantly coloured, egg-shaped (naturally!) container.
Non-toxic coloured markers are added to the egg, creating vibrant patterns as it rotates.
Scott’s family and friends used the device to paint Easter eggs that year. It was a resounding success!
After being encouraged by the response, Scott sought out tooling and production professionals.
On May 4, 2016, he launched the Eggmazing Egg Decorator Facebook page, which quickly gained attention and positive feedback.
On November 16, 2016, he started a $5,000 Kickstarter campaign to fund the construction of the Eggmazing Egg Decorator.
On November 28, 2016, Kickstarter picked The Eggmazing as a “Project We Love.” At the end of the campaign, it had raised $7,736 from 147 backers, surpassing the goal.
The manufacturing and packaging components were handled in November 2016, and Scott and his unique creation were featured on the KAMR television show, Studio 4 with Andy Justus, on December 5, 2016.
On March 1, 2017, the first 10,000 units were manufactured.
Scott attended the Make a Wish Car Show at the Amarillo Civic Centre on March 4, 2017 and The Peddler Show on March 10, 2017.
The Eggmazing Egg Decorator was featured on Good Morning Texas on WFAA Channel 8 in Dallas on March 27, 2017.
Each Eggmazing Egg Decorator costs $29.99. It has eight markers. No batteries or eggs are included.
What Happened to Eggmazing Egg Decorator at the Shark Tank Pitch?
Curtis and Scott entered Shark Tank Season 9 Episode 23 seeking $350,000 for a 7% ownership in their business. This corresponds to a $5 million valuation.
They illustrate how egg ornamentation has stayed essentially the same for decades. They employ a fun and clean alternative to drowning eggs in dye, which is unpleasant and messy.
They show how it works, and then Curtis’ children hand out samples.
Curtis’ children and wife exit the stage after the Sharks put on bunny ears and check the samples. Kevin is interested how they came up with the idea.
Scott was colouring eggs with his kids in 2015 and wanted to find a better alternative to the traditional vinegar and dye tablet method.
He pulled out a glue gun and an electric screw driver and began work on the first prototype. Kevin is intrigued, but he thinks its way too seasonal.
He said they bought 10,000 units and received them on March 1, 2017. They sold all 10,000 pieces in 23 days, making $150,000 and profiting from $45,000 to $50,000.
It cost $8.28 to make. Each unit cost $19.99 during the first run, and $24.99. During the second run. The average selling price on Amazon is $59, which dwarfs all of the Sharks. They even found one for $120 on eBay.
Scott informs Barbara that they have $1.2 million in purchase orders for the next Easter when she inquires about pre-sales.
Their landed packaging cost is $4.71, and they sell for $12.50 wholesale. They do not accept any returns on their orders. Kevin is surprised.
“Half of the orders are for our brother product, The Tremendous Ornament Decorator,” Curtis explains. It costs $29.99 and includes three decorations as well as eight markers.
Kevin objects to the cost and states that ornaments are not decorated in the same manner that Easter eggs are.
Kevin offers $50,000 plus a $300,000 loan at a 13% interest rate in exchange for 33% ownership of the company.
“That’s egg-scrutiny!” exclaims Robert. When Curtis explains he’s doing it for his kids, Kevin reduces the interest rate to 11%.
Barbara is skeptical about The Tremendous Ornament Decorator, but she agrees to pay $350,000 in exchange for a 15% fee. Half of it is cash, and the other half is a credit line with a fixed interest rate set by her bank.
She promises to help them as long as they have purchase orders.
Kevin then responds with a $300,000 loan at 7% plus $50,000 in cash for a total of 20%.
Lori enters the race, offering $100,000 plus a $250,000 loan at 7% in return for 12.5% of the company.
Robert does not envision a complete company revolved around it. As a result, Robert is no longer a part of the plan.
Barbara provides a straight $350,000 loan at the lowest interest rate she can get in return for 10% of the firm.
Lori responds with $350,000 for 10% plus a $2 royalty on each unit sold until she is repaid. Curtis and Scott have agreed to donate half of her proceeds to a charity of their choice.
Lori, Mark feels, is the better bargain since she is more product-driven, but this isn’t his business, so he isn’t involved in the transaction.
Scott and Curtis finally agree to take Lori’s offer.
What Happened to Eggmazing Egg Decorator After the Shark Tank Pitch?
The Eggmazing Egg Decorator is currently available at major retailers such as Wal Mart, Target, and Amazon.
In the calendar year after the original air date, the firm generated $12 million in sales.
It is now priced at $29.99, while The Tremendous Ornament Decorator is priced at $34.99.
The business is updated in Season 10, Episode 1018. It’s no coincidence that the upgrade will be released three weeks before Easter in 2019.
They provide new Christmas and Halloween kits in the episode. A dinosaur egg decorating kit is also available, which contains an egg with a dinosaur inside.
In 2020, Wal Mart sales climbed by 226% over the previous year. Amazon’s sales surged by a whopping 4400%.
Due to the large number of kits available and the Covid-19 outbreak, it became impossible to locate them.
The company is still in business as of November 2021, with annual revenues of $3 million.
What is the Net Worth of Eggmazing Egg Decorator?
Curtis and Scott entered Shark Tank Season 9 Episode 23 seeking $350,000 for a 7% share in their business. This corresponds to a $5 million valuation.
Lori’s offer of $350,000 for a 10% stake plus a $2 royalty until she is repaid was approved.
Who are the Competitors for Eggmazing Egg Decorator?
There is a competition for Eggmazing Egg Decorator.
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Eggmazing Egg Decorator FAQS
What is Eggmazing Egg Decorator?
Eggmazing Egg Decorator is a device for decorating Easter eggs that eliminates the odour and mess associated with traditional Easter egg decoration.
Who is the Founder of Eggmazing Egg Decorator?
Co-founders Curtis McGill, Chief Financial Officer, and designer and CEO Scott Houdashell created the Eggmazing Egg Decorator.
Where can they buy Eggmazing Eggs?
The Eggmazing Egg Decorator is currently available at major retailers such as Wal Mart, Target, and Amazon.
What is the target market for Eggmazing Egg Decorator?
The target market for Eggmazing Eggs is children between the ages of 4 and 12, or anyone else who wants to showcase their love of a particular holiday in a distinctive way.
How much does the kit costs to purchase?
The cost of the Eggmazing Kit is $29.99 on their website while The Tremendous Ornament Decorator is priced at $34.99.
What makes Eggmazing Egg Decorator different from other egg decorating kits?
The traditional egg decoration methods are unsafe for children, require an adult to assist in the process, and usually generate a large mess.
How does Eggmazing Egg Decorator work?
Simply set a hard-boiled egg on a battery-powered egg holder, which spins the egg while the user decorates it with the different coloured markers offered.
How much were they seeking in the Tank?
They were seeking an investment of $350,000 for 15% in Eggmazing Egg Decorator.
How much did they receive from Lori?
Lori’s offered $350,000 for a 10% stake plus a $2 royalty per unit until she is repaid.
What Happened to Eggmazing Egg Decorator after the Shark Tank?
In the calendar year after the original air date, the firm generated $12 million in sales.
In 2020, Wal Mart sales climbed by 226% over the previous year. Amazon’s sales surged by a whopping 4400%
Is Eggmazing Egg Decorator still in business?
They are still in business as of November 2021, with annual revenues of $3 million.
