What Happened to FoHawx After Shark Tank?
What is FoHawx?
FoHawx is helmet Mohawks that took the standard Safety Helmet and converted it into something special, especially for youngsters. It is simple to remove and connect the gadget to any safety helmet.
The FoHawx was “invented” by Maya, Jocelyn’s daughter. Maya cut out a paper Mohawk and taped it on Jocelyn’s son’s bike helmet since he refused to wear his helmet.
FoHawx was decked out in bright blue elbow and knee pads with a horrible tie-dye pattern. However, as the bones become more flexible and less brittle, it becomes more resistant to bone fractures and other damage.
Who is the founder of FoHawx?
Jocelyn’s daughter, Maya, founded the FoHawx. Maya cut out a paper Mohawk and taped it on Jocelyn’s son’s bike helmet since he refused to wear his helmet.
When her child refused to take off his helmet, she recognized she was onto something and partnered with a friend to build a range of amusing and bright bike helmet additions.
FoHawx is compatible with a variety of helmets, and it may also be worn by adults. Jocelyn was a business development consultant, and Kelly was a member of Toys R Us’ visual merchandising management team. FoHawx are sold on Amazon, in dozens of tiny toy stores, and at Walmart and Toys R Us.
What Happened to FoHawx’s pitch on Shark Tank?
In order to help expand the business, Jocelyn and Kelly decided to pitch their idea to Sharks in episode 11 of Season 5 of FoHawx of Shark Tank.
Jocelyn and Kelly approached the Sharks, seeking a $150,000 investment in return for a 30% stake in FoHawx worth $500,000.
The women were escorted into the Tank by a group of tiny children riding bikes and trikes, all of whom are wearing helmets with vividly colored foam fringed decorations.
The FoHawx were equipped with an adhesive Velcro strip that allows the decorations to be attached to and removed from any helmet.
The FoHawx costs $5 to make and has a suggested retail price of $19.99. They’ve sold $50,000 in FoHawx through 80 specialized shops in a year, and they’re presently looking into internet retail with Toys R Us and Walmart.
Kevin O’Leary believes that revenues were inadequate to warrant a year’s worth of work. The Sharks want to cut the price down to $9.99.
There was considerable dispute regarding the benefits of a lower price point, but the general consensus appears to be that sales are too low and that the ladies should consider how to increase distribution.
When it comes to pricing and business, Barbara Corcoran tells the girls that they “need to confront reality.” She exits.
According to Mark Cuban, the females are selling us on the dream rather than the green. He went out.
According to Robert Herjavec, the existing product rivalry was too severe. He also goes out.
Daymond John claims that the sales per shop are minimal. He also exits.
Kevin O’Leary stated that he has provided the numbers to them, but they simply do not want to hear the reality.
The ladies argue, but the Sharks have all left, leaving them with no deal.
What Happened to FoHawx After Shark Tank?
Despite the fact that the girls fought hard for FoHawx in the Shark Tank, Barbara Corcoran called the conversation after they left as “exhausting.”
Jocelyn and Kelly were quickly confronted with the hard reality that The Sharks were correct about their company. They did, however, profit for about a month from the Shark Tank impact.
It became clear quickly that their pricing point was providing a huge barrier to sales, and their company was just not working.
FoHawx went bankrupt approximately a year after debuting on Shark Tank, therefore putting a stop to the helmet attachment sector.
While it may be disheartening to see entrepreneurs pass up prospects for success, more than half of all new businesses that start each year fail.
With their dedication and persistence, we’re convinced that this isn’t the last we’ll hear from the Jersey girls who started FoHawx.
FoHawx’s main opponent in the market is a company that sells helmet accessories such as skateboard helmets.
FoHawx’s Net Worth
During the pitch, the firm was valued at $500,000; however, the company is no longer in operation and hence the company net worth is not available.
How did FoHawx work?
FoHawx is simply a safety helmet remodeled buy a piece of paper, string, or t-shirt. The two founders are Jocelyn and Kelly.
What was FoHawx made of?
FoHawx was made of paper, string, and t-shirt.
What is FoHawx’s price?
FoHawx’s price is $5 per pack plus shipping, which is $4.95 for up to 5 packs and free shipping for six-packs or more. The recommended retail price for each pack ranges from $9.99 to $19.99.
What did FoHawx look like?
Its color was blue and white stripes.
What was the target market of FoHawx?
The target market was children, teens, and adults who don’t like wearing helmets.
Did FoHawx work?
Yes, it works.
How does FoHawx work?
Users choose the design of their helmet and attach the covering with a Velcro strip.
What is the material used to make FoHawx?
The material used to make it was paper, string, and a t-shirt.
Where is FoHawx made?
It is manufactured in the United States of America.
What was FoHawx return policy?
Each package comes with a return policy of 30 days.
Did FoHawx have stores?
No, it did not have stores.
How long did FoHawx take to use?
It takes approximately two minutes to make and attach the product to your helmet.
What was FoHawx’s price range?
Its price range for each pack range from $9.99 to $19.99, depending on the number of packs customer buy and it’s kind of pack, the retail price is set at $9.99 plus shipping, which is $4.95 for up to 5 packs and free shipping for six-packs or more.
What were the payment terms of FoHawx?
The payment terms of FoHawx is a 30-day money-back guarantee, which means that customers can have their money back if they are not 100% satisfied within the first 30 days.
Can FoHawx be attached to other helmets?
Yes. It can be attached to any kind of safety helmet, vinyl, or hard surface. The product can also be used with motorbikes and golf range cans.
How many colors were available for FoHawx?
There were a variety of colors to choose from in most packs, but only one was available per pack: blue and white stripes. The recommended retail price for each pack ranges from $9.99 to $19.
Where did Jocelyn and Kelly get the idea for this product?
They came up with this idea when they got tired of their own helmets. They didn’t like wearing them because they were uncomfortable for them.