GoodHangups Shark Tank Pitch
GoodHangups lets you decorate on your wall without putting holes in the wall. The product turns your wall into a magnet. You put up the magnetic tape, and then place your item on the wall and put the magnets on the corners.
The magnetic stickers are removable and reusable on the walls. The adhesive will not damage the walls no matter how long you have it in use. Goodhangups has over $450,000 in sales for the year, including QVC. Twenty percent of sales comes from direct sales. The eight packs sales for $14.95 and cost is $2.25.
Leslie is a superfan and is in the Shark Tank for strategic partnerships. Robert comments that the packaging needs tweaked for big box.
GoodHangups Episode Data
- Company: GoodHangups – Website
- Entrepreneurs: Leslie Pierson
- Ask: $100,000 for 10% equity
- Episode Season 8 Episode 802
- Companies in this episode:
- The Lapel Project
- GoodHangups
- Ice Age Meals
- The TactiBite Fish Cal
- Illumibowl – Featured Update
- Sharks:
- First Aired: 09/30/2016
- Deal: Lori Greiner $100,000 loan for 10% if paid back within one year, otherwise 20%
What do the Shark Tank Investors say about GoodHangups?
- Mark Cuban – thinks she has a great product, and she is a force of nature. But, trying to turn a force of nature into a company makes him not the right person. He is out.
- Daymond John – offers $100,000 for 15%. Daymond knows that Lori is great, but he wants to do the deal.
- Kevin O'Leary – knows the President of Staples, and thinks that this would be great for Shutterfly. He will do $100,000 for 10% and he wants her to squeeze Lori's head.
- Lori Greiner – sees her have crazy drive like she has. She offers $100,000 for 20% to get her into Bed, Bath, and Beyond as well as Staples. Lori wants an answer now. She tells her that the packaging needs a lot of help. She wants Lori to know that she will not make a rash decision when Lori her partner. Lori does not want to team up with the other Sharks and does not need to do this deal with others. She counters Lori at $100,000 loan for 10%, and if it is not paid in the first year, Lori gets 20%. It is a done deal.
- Robert Herjavec – is just not the arts/crafts kind of guy and he is out.
GoodHangups after Shark Tank
GoodHangups is selling in Bed, Bath, and Beyond, as well as QVC and other stores. Lori and Leslie make good partners.