Kiersten Hatchcock taught herself how to build modern-looking toy boxes in order to help support her family through a rough patch. Now she’s hoping to grow her business with the help of a shark. Will she get an investment on
If you’re short on time, here’s a quick overview of what happened to Mod Mom Furniture after
Mod Mom Furniture appeared on
|Accepted deal of $90,000 for 33% equity and a royalty when sales went above $500,000
|$90,000 for a 33% equity stake and a 7.5% royalty until the investment is repaid
Shark Tank Mod Mom Furniture Update
- Entrepreneur: Kiersten Hatchcock
- Business: Kids’ furniture company
- Ask: $90,000 for 25% equity
- Result: $90,000 for 33% equity and a royalty when sales went above $500,000
- Shark: Robert Herjavec
Kiersten brought Mod Mom Furniture to
She talked about how she designed the furniture to be appealing to kids so that they would feel encouraged to put their toys away. Kevin O’Leary immediately jumps in with a question about sales.
Kiersten informs him that she made $34,000 while selling out of her garage the previous year by building three toy boxes a week. Further, she can’t keep up with demand and even has to turn away orders from celebrities and international retailers.
Robert Herjavec wants to know how Kiersten learned to make the toy boxes. She tells him that she was self-taught and the sharks are impressed.
Kevin asks how much each toy box costs to make, including the cost of her time. Kiersten says it’s around $115 per toy box, for 10 hours of her time. Further, she sells each piece for around $475, with shipping included.
Barbara Corcoran asks how Kiersten’s husband feels about the company, and she replies that they are a team with everything riding on this, due to her husband losing his job.
Robert tells Kiersten that he loves her story. However, he has one issue regarding scaling.
Kiersten says she’s already established a connection with an Amish manufacturer in her home state of Ohio, who assures her that up to 1,000 pieces could be made a week for her.
Robert asks what Kiersten would use the money for. She says $60,000 would go on case goods and the rest would be used for expanding the furniture line to become a big brand company.
Barbara says that she thinks Kiersten underestimates how much money she will need, so she goes out. Daymond John then follows out, citing his fear of the furniture business.
Kevin Harrington doesn’t think the appeal is there, so he too is out. However, the remaining Kevin offers $90,000 for a 33% equity stake, and a 7.5% royalty until the investment is repaid.
Robert also jumps in, offering $90,000 for 33% equity of Mod Mom Furniture, with a royalty that would only be expected after hitting $500,000 in sales. He states he will make a better partner for a small business than Kevin O.
Kevin disagrees with this and repeats his offer. Kiersten thinks about it and ends up going with Robert.
What happened following the show? Keep reading our Mod Mom Furniture update to find out.
Our Mod Mom Furniture update reveals that the company achieved success and is now doing around $2 million in annual revenue, despite the deal with Robert never materializing.
After some obstacles in her path, Kiersten went on to get a licensing deal with Frank Lloyd Wright. She also wrote a book detailing her experiences with helping children.
Further, the company is currently making around $2 million in annual revenue.
At the time of this writing our Mod Mom Furniture update, there are currently no items for sale on the website. However, there is a note saying, “Lots of shifts and changes are happening at Mod Mom. Stay tuned for more info soon!”
If we get more news about Mod Mom Furniture update, we’ll be sure to let you know!
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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!