What Happened to Mod Mom Furniture After Shark Tank?
What is Mod Mom Furniture?
Mod Mom Furniture is a firm that makes custom-made toy boxes and other furniture. This notion cleared the path for the development of a new market in children’s woodworking.
The initial things were made by hand and required a certain amount of ingenuity. In order to improve its products, the firm has made many agreements along the way.
In 2006, Kiersten Hathcock founded Mod Mom Furniture. She left a lucrative marketing job at A&E to be a stay-at-home mommy. She had also worked for The History Channel and spoken at TEDx.
Who is the creator of Mod Mom Furniture?
Mod Mom Furniture was created in 2006 by Kiersten Hathcock. After leaving corporate America to become a stay-at-home parent, Hathcock sought a source of income.
She researched furniture design, went on market trips, and taught herself how to build and sell one-of-a-kind toy boxes and other furniture.
Mod Mom Furniture quickly became popular in high-end lifestyle periodicals such as Better Homes and Gardens and Dwell.
In her garage, Hathcock handcrafts all of the furniture. She’s exhausted with the amount of labor required to keep up with her orders. Her business is already lucrative, but she needs funds to expand into mass manufacturing and retail sales.
What Happened to Mod Mom Furniture’s Shark Tank Pitch?
Kiersten Hathcock makes an appearance on Episode 203 with her Mod Mom Furniture firm, looking for a Shark to partner with.
Hathcock entered the Shark Tank seeking for $90,000 in exchange for a 25% stake in her business, which worth $350,000.
She displays the one-of-a-kind design elements, such as the puzzle piece lid, and encourages the Sharks to “assist me in building Mod Mom Furniture into the next million dollar furniture enterprise.” Kevin O’Leary, in typical Mr. Wonderful fashion, is interested in selling.
Despite her ability to make up to three toy boxes each week, Hathcock reports that her sales in the previous year were $34,000.
She can’t keep up with the orders. She’s had to turn down offers from merchants from 17 different countries.
Each piece costs her $115 to make, not including the time she spends on it. It is priced at $475, resulting in a healthy profit margin.
Robert Herjavec was captivated by the Hathcock story. He’d want to know how they intend to expand the company.
Hathcock has an Amish source in her home state of Ohio who can create up to 1,000 units each week.
Barbara Corcoran believes Hathcock miscalculated her manufacturing costs and thinks the investment required for success is exorbitant. She went out.
“I’m frightened of the furniture industry,” Daymond John confesses. He also went out.
Kevin Harrington was aware of another successful Amish business model, but he believes the Hathcock concept lacks the same luster. A third shark to exit.
Only Kevin O’Leary and Robert Herjavec remain. Kevin O’Leary offers a suggestion. He offers $90,000 in return for 33% equity in the company, but he requires a 7.5% commission on every unit sold until his investment is repaid.
Robert Herjavec gets forward and offers $90,000 for 33% ownership shares, but with a catch: he wants the royalty only once the business reaches a certain level of sales, in order to protect the company’s ability to reinvest revenues.
Hathcock accepted Robert Herjavec’s offer, and the pitch ends with a deal.
What Happened to Mod Mom Furniture After Shark Tank?
As is often the case, Mod Mom’s appearance on Shark Tank sent the company into the stratosphere, increasing brand recognition and revenue.
Unfortunately, the deal with Robert Herjavec did not come to fruition. Despite the setback, Mod Mom Furniture has continued to grow. Friends and family gave a total of $30,000 to the cause.
After watching the clip on HULU in 2012, an angel called Hathcock and gave him a better deal than Robert. Hathcock eventually secured a licensing deal with Stanley Furniture, allowing her brand to be offered on a global basis. Unfortunately, such an agreement only lasted two months.
2014 was a trying year for both personally and professionally. She divorced her husband and put the company on hold until 2017.
She did reunite with her husband, and in 2018, she inked a license agreement with Little Colorado, a company that has been in operation for over 30 years.
In 2020, she will introduce the first Frank Lloyd Wright children’s furniture collection. She also wrote a book on her experiences as an intuitive that interacts with abused children’s spirits. In reality, Hathcock worked with authorities to catch sexual predators.
The firm will reopen in December 2021, with a $2 million yearly income.
Mod Mom Furniture’s Competitors
Harlow’s Nest is Mod Mom Furniture’s main competitor.
Mod Mom Furniture’s Net Worth
During the pitch, the firm was valued at $350,000; since then, the company has continued to operate with yearly sales of $2 million as of December 2021.
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Mod Mom Furniture FAQs
What is Mod Mom Furniture?
Mod Mom Furniture is a company that manufactures one-of-a-kind children’s furniture. The idea came to fruition in 2012, when Kiersten Hathcock went on a market trip. Her son was frustrated and bored, so she searched for a toy box for him.
Where is Mod Mom Furniture located?
They manufacture their pieces in her hometown of West Chester, Ohio.
Does Mod Mom Furniture sell internationally?
Yes, their items are sold in neighboring countries like Canada and Mexico, among others.
What does Mod Mom Furniture produce?
Mod Mom Furniture produces toy boxes and children’s furniture, such as beds and dressers.
What is the cost of Mod Mom Furniture?
Their products go for $475, and their volumes have been increasing.
Can I customize my Mod Mom Furniture?
Customs are available in some pieces; however, they come with a signature that cannot be removed.
Where can I purchase Mod Mom Furniture?
Most stores that sell Little Tikes and Fisher-Price kids’ toys carry their products in their stores.
Is Mod Mom Furniture durable?
Mod Mom Furniture is made from sustainable materials and is produced in the United States.
What is Mod Mom Furniture return policy?
Customers can return their piece if they are not happy with it, provided that the item is still new. The merchandise must be unused and in its original packaging for a full refund.
What does Mod Mom Furniture specialize in?
Mod Mom Furniture specializes in furniture for children. Their products include toy boxes, beds and dressers.
What is Mod Mom Furniture made of?
Mod Mom Furniture uses sustainable materials and produces their pieces in the United States, ensuring that they are created from all-natural materials.
What are the products offered by Mod Mom Furniture?
Their products include toy boxes and children’s furniture, such as beds in the shape of a rocket ship, dresser and a spaceship.
What is Mod Mom Furniture shipping policy?
Mod Mom Furniture uses FedEx and UPS to ship their products. The company ships to the continental United States.
How do I make payment to Mod Mom Furniture?
Mod Mom Furniture accepts payments via PayPal, credit cards, and bank transfers.
