Do you have a fridge that serves you well, but looks unappealing? Entrepreneur Jan Augenstein came up with a solution to this problem while living in military base housing. Her decorative, magnetic skins, can be placed on appliances, completely changing how they look. Will a shark front some cash on
Shark Tank Fridge Fronts Update
- Entrepreneur: Jan Augenstein
- Business: Magnetic skins for kitchen appliances
- Ask: $100,000 for 30% equity
- Result: $100,000 for 50% equity
- Shark: Barbara Corcoran and Kevin Harrington
Jan brings her company and product, Fridge Fronts, to
Her product is basically a magnetic decal, that adheres to your ugly appliances, making them more appealing to you. From a stainless steel looking finish, to many additional options, there really are endless ways to spruce up what you’ve already got.
Robert Herjavec wants to get right into the numbers of Fridge Fronts. When asked about sales, Jan says she has been in business since 2005, when she got the patent for the product.
She then had a partnership with Skymall, that led to $40,000 in sales. However, that investment into the magazine cost her $18,000.
Further, after some issues with a printing contract, Jan found a few more obstacles on the way. Despite this, she is still ready to fight for Fridge Fronts.
Unfortunately, as Kevin O’Leary points out, there really isn’t anything proprietary about the product. That’s when Daymond John asks if Jan has any product available, and in fact, she does.
Barbara Corcoran asks how much Jan has invested so far, and she says $250,000 has gone into the company.
Despite all that he’s heard, Kevin O’Leary doesn’t think there’s a company, only a product. This leads to him going out.
Likewise, Robert thinks that Jan’s presentation, and style are great, but also can’t see how the company can grow. He too goes out.
Daymond John doesn’t know what he can bring to it, and follows the other two sharks out.
This leaves just Barbara and Kevin Harrington remaining. Kevin H. asks exactly how much inventory Jan has, and she shows the sharks some more designs, and talked about how the product can be customized.
Barbara says she has an interest, but suggests that Jan limits herself to three bestselling designs. Barbara is willing to put in half, and partner up with another shark.
Kevin H. also wants to focus on the current designs, not on investing in new ones. Additionally, he wants a higher stake in the company.
The offer on the table is therefore $100,000 for 50% equity, with Kevin H. and Barbara. Jan accepts the offer, and walks out of the tank with a deal.
What do you think happened next? Keep reading our Fridge Fronts update to find out!
Our Fridge Fronts update shows that the company enjoyed some success after appearing on
That said, Fridge Fronts no longer exists under its own name. However, Best Appliance Skins can help you transform your ugly fridge, into a stainless steel one for around $115.00, which is far cheaper than a new appliance!
If this update piqued your interest in the other companies that appeared on Season 2 Episode 5, follow the links below for more information on each of them.
For even more on companies and products, be sure to stop by our Season 2 Products Page to read all about them!
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Jennifer is an avid Shark Tank fan that has been watching the show for years. She serves as Senior Editor at Shark Tank Recap and ensures that all our information is accurate and that our posts are up to date. Her favorite Shark Tank products are Le-Glue and Ring!