What Happened to Fridge Fronts after Shark Tank?
What is Fridge Fronts?
Fridge Fronts are magnetic coverings for refrigerators and other large metal appliances. When coated with these skins, even the dirtiest refrigerators become works of beauty.
Magnetic backings make removal easier and come in a variety of colors and styles.
Jan Augenstein founded the company in 2002. She holds a Bachelor of Fine Arts from Wright State University as well as a Master of Education from Boston University.
Following her education, she entered the real estate market in 1992. After that, Augenstein sold her Fridge Fronts company to Best Appliance Skins.
Who is the founder of Fridge Fronts?
Jan Augenstein founded the company in 2002. Eight years after receiving her Master’s degree, Augenstein founded her company. Her husband was in the military, and the pair lived on the base. Magnetic skins were a cheap way for her to incorporate her personality into their house.
The magnetic sheets include stunning artwork and can be tailored to fit any refrigerator, stove, or dishwasher. The cover protects the appliance’s present surface while also adding a personal touch.
Augenstein has struggled to get her Fridge Fronts product off the ground. Her brother initially invested $250,000 in the company to get it off the ground.
While an appearance on Rachel Ray’s TV program created a rise in interest that brought the Fridge Fronts website to a halt, setbacks soon forced the Fridge Fronts website to a halt.
Augenstein made an order with a small print shop that went out of business before the transaction was completed.
What Happened to Fridge Fronts at Shark Tank pitch?
Jan Augenstein makes her Shark Tank debut on episode 115 with Fridge Fronts, a revolutionary new kitchen appliance design. She is searching for a Shark to help her fund her concept, which will allow her to create further designs and move the product into the retail market.
Augenstein went on Shark Tank seeking $100,000 in exchange for a 30% stake in her company, which was valued at $333,333.
She gives the Sharks with an old and unsightly refrigerator. She demonstrates how a new front completely transforms the appearance of the ‘fridge, as well as her many finishes and designs.
Kevin Harrington was eager to hear more about her Skymall venture. Augenstein claims that she invested $18,000 and made $40,000 in sales.
She would have benefitted if her supplier hadn’t suddenly raised the price. Rachel Ray was compelled to buy her belongings back from the bankrupt printer after her television appearance. She now requires the Sharks’ aid due to her issues.
It is “not a company; it is a product,” according to Kevin O’Leary. He’s out Robert Herjavec feels the product was unique, but the market is too small. He’s also goes out. Daymond John does not see himself as having a position in the firm. He also exits.
The sole survivors were Kevin Harrington and Barbara Corcoran. Corcoran was prepared to pay half the money if Augenstein keeps up her present level of accomplishment.
Harrington was caught aback by Skymall’s success. He was willing to donate the remaining $50,000 with Barbara, but he wanted the deal to include half of the company’s stock. Augenstein accepts the offer and walks away from the pitch with a deal.
What Happened to Fridge Fronts After Shark Tank?
The deal between Kevin Harrington and Barbara Corcoran was concluded, and Fridge Fronts has grown from a few designs to hundreds. Magnets have evolved as well.
Customers who possess non-magnetic equipment can substitute a removable sticky film. The product line has been expanded to allow for more size customization, allowing the client to spend less time trimming and cutting the product to fit their appliance.
Augenstein looks to have recouped her investment and successfully launched her Fridge Fronts product, illustrating that all it takes to succeed is a great concept and the will to overcome challenges. A small shove from the Sharks would be helpful as well.
Jan sold the company to Best Appliance Skins for an undisclosed price in 2013. When it comes to developing skins, the new owners have over a million photographs to select from. Jan is still a realtor in Ohio and runs a home staging company.
Net Worth of Fridge Fronts
During the pitch, the firm was valued at $333,333; after the pitch, the company was valued at $200,000. The firm was bought by Best Appliance Skin in 2013 for an undisclosed price; hence the company’s net value is unknown.
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Fridge Fronts FAQs
What is Fridge Fronts?
Fridge Fronts are magnetic coverings for refrigerators and other large metal appliances. When coated with these skins, even the dirtiest refrigerators become works of beauty. Magnetic backings make removal easier and come in a variety of colors and styles.
Who is the founder?
Jan Augenstein founded the company in 2002. She holds a Bachelor of Fine Arts from Wright State University as well as a Master of Education from Boston University.
How much was seeking on Shark Tank?
Jan was seeking for $100,000 in return for a 30% ownership in her company, which was worth $333,333.
Was she the one who made the deal?
She did, in fact, have a deal with Barbara Corcoran and Kevin Harrington.
How much did the deal cost?
They offered $100,000 for 50% ownership of the firm, which was valued at $200,000 at the time.
Is Fridge Fronts still in operation?
Yes, Fridge Fronts is still in operation and was purchased by Best Appliance Skin in 2013.
When was Fridge Fronts established?
The company was established in 2002.
Fridge Fronts was situated where?
The company was based in Ohio.
What exactly are Fridge Fronts Products?
Fridge Fronts Products are magnetic sheets that may be adorned with graphics and designs for refrigerators and other metal appliances.
Fridge Fronts operates in which markets?
Fridge Fronts has offices in the United States, Canada, China, France, Germany, Australia, South Korea, and the United Kingdom.
Who is Fridge Fronts’ current owner?
Best Appliance Skins is the current owner, and they have over a million images to pick from when producing skins. Jan Augenstein is still a realtor in Ohio and runs a home staging company.
How did Fridge Fronts perform?
Fridge Fronts is a product that consumers who possess non-magnetic equipment may utilize. The skins may be placed on a refrigerator or other metal equipment and removed without causing any damage.
Are Fridge Fronts Long-Lasting?
Because refrigerator doors are flexible and not waterproof, they do not survive long in the rain or in pools of water. They are long-lasting for both indoor and outdoor use, yet some individuals may try to harm them if it does not result in significant physical damage to their property.
How can I purchase Fridge Fronts?
Although the company does not have an internet store, the magnets may be purchased from a variety of stores. The skins are available in a variety of colors and styles, and they may also be customized.
How do I put Fridge Fronts on?
Customers may simply apply the skins themselves because the company does not provide installation services.
What else does Fridge Fronts provide?
Magnet boards, which have fewer patterns than refrigerator magnets, are also available from the company.
Where did Jan Augenstein get her ideas?
After viewing magnetic skin choices for blenders and PCs on the Internet, Jan Augenstein was inspired to create Fridge Fronts. She quickly found that there were no possibilities for appliance covers, so she began researching the possibility of designing her own line of designs.
What happened to Jan Augenstein?
Jan Augenstein is a real estate agent in Ohio. Her hometown is Dayton, Ohio, where she was born and reared.
