Addison's Wonderland is the creation of Brittany Hayes. She designed her daughter's bedroom in her vision of the ultimate little girl's room. Brittany asked Brooke to partner with her in the new business that they present in Shark Tank.
Addison's Wonderland Sells Build Your Own Collection
They sell everything direct online offering a “Build Your Collection.” The whole set runs about $1,400. They have sold $130,000 with a gross margin of about 55% over the first year. An average order is between $8-1200. They are getting feedback that if they brought the price down about thirty percent that they would increase their business. They would like to go more to the wholesale markets for Addison's Wonderland.
I find it extremely interesting that Brittany shares both Robert Herjavec and Lori Greiner are not her favorite people, while Daymond John and Kevin O'Leary are just alright, but Mark Cuban is exceptionally nice. They said he came close to making a deal with them.
Brittany and Brooke shared the upcoming episode with everyone through social media, and the website crashed during the night of their Shark Tank episode. She believes if the Addison's Wonderland website could have handled the traffic her sales would be higher. That's why having a scalable hosting company is so important.
Her Marriage to Mark hit a roadblock following the episode of Shark Tank while investors were contacting her. She almost closed with an investor and then pulled back. They dissolved the business in July 2014. Brittany turned the website into a blog in September of 2014 and hadn't looked back since.
What do the Sharks say about Addison's Wonderland?
- Robert Herjavec said you have a strong business that services your customers. He is out.
- Lori Greiner is more interested in products that are affordable to most of the population and not just a few. She is out.
- Daymond John doesn't think that they need the Shark Tank Investors. You can make a good living from this. He is out.
- Kevin O'Leary tells Brittany and Brook that there is nothing proprietary about this and he thinks he could do it for a lot less, so he is out.
- Mark Cuban is redoing rooms for a six and nine-year-old daughter. His wife would love it, and he sees a market for their product. Mark looks for a return on his time, rather than a return on his investment. Mark likes what they are doing, but they don't need him, and he thinks they are going to do wonderful things, don't rush it but he is out.