Mod Mom Toy Boxes Kiersten Hathcock's Shark Tank pitch from Season 2 is rerunning on CNBC tonight!
Mod Mom Furniture by Stay-at-home mom on Shark Tank
What happens when Stay-at-home mom, Kiersten Hathcock realizes she needs to make money to help her family after her husband lost his job? Mod Mom Furniture comes into the Shark Tank! Kiersten aims to solve a problem she realized three years previous. Kiersten' business,
Mod Mom Furniture builds Modern Toy Boxes which are eco-friendly, that look great, and are fun for kids. Her designs have puzzle pieces as the openings so that Kids have fun putting their toys away.
She maxed out Mod Mom Furnitures build capacity at three boxes daily, which generated thirty-four thousand dollars in revenue the year before her Shark Tank pitch. She taught herself to make the boxes.
The cost to build a toy box is about $115, and they sell for $475 with ten hours effort.
Kiersten has an Amish Manufacturer in Ohio to scale her business which is capable of making up to a thousand in a week. She needs $60,000 for case goods and wants to expand into bedroom furniture past the toy box.
Company: Mod Mom
Entrepreneur: Kiersten Hathcock
Website: http://www.modmomfurniture.com
Twitter: @modmomkiersten
Episode: Season 2 Episode 203
Other companies in this episode: Pure Ayre, Flip Outz, and Fitness Stride
First Aired: 4/1/2011
Sharks: Kevin Harrington, Barbara Corcoran, Kevin O'Leary, Daymond John, Robert HerjavecAsk: $90,000 for 25% equity
Year one Revenue: $34,000
Location: Flagstaff, AZ
Mod Mom and the Shark Tank Investors
Barbara Corcoran thinks Kiersten is going to need way more money to scale the business and it is too costly for her, so she is out.
Daymond John said he is “petrified” of the furniture business and so he is out.
Kevin Harrington asks how many of you have heard of the Amish fireplace? It went from zero to $100 million, but it sells because it is an energy savings product. He doesn't think toy boxes will scale like the fireplace, so he is out.
Kevin O'Leary likes Kiersten, so he is going to make her an offer. The big challenge is liquidity. He will give the $90,000 and wants 33% plus 7.5 percent royalty until he gets the $90,000 back.
Robert Herjavec makes an offer for $90,000 for 33%. He wants a royalty only after $500,000 to help her get the business going.
Kiersten takes Robert's offer, but the deal didn't consummate after the show, and Kiersten secured a different investor for her company.
Mod Mom Furniture recently licensed the toy box design to be built and sold by Little Colorado. A company specializing in toddler furniture.