Every home needs a gnome, according to entrepreneur Wendy Hoffmeister. She brought her decorative gnome business to the
If you’re short on time, here’s a quick overview of what happened to Wendy’s Gnome Shop after
Wendy Hoffmeister appeared on
|Daymond John||Accepted deal of $200,000 for 30% equity|
|Barbara Corcoran||$200,000 for 30% equity|
|Mark Cuban||No Offer|
|Lori Greiner||No Offer|
|Kevin O’Leary||No Offer|
Shark Tank Wendy’s Gnome Shop Update
- Entrepreneur: Wendy Hoffmeister
- Business: Decorative holiday gnomes
- Ask: $200,000 for 20% equity
- Result: $200,000 for 30% equity
- Shark: Daymond John
Wendy Hoffmeister entered
The gnomes she presents are furry decorations designed for special occasions and holidays. These cute little guys can even be customized — she even gives Barbara Corcoran the chance to design her own. They sell for $35 on Etsy and her website and only cost about $3.50 to make.
While the sharks seem to agree that the gnomes are cute, Kevin O’Leary is the first to weigh in. He’s amazed by the concept and that people were buying gnomes in droves.
He respects her sales numbers, and how she persevered to turn her hobby into a business. However, it’s not for him, so he’s out.
After Kevin, Lori Greiner follows. It’s not the right business for her, though she thinks the gnomes were cute.
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Next, Mark Cuban has similar feedback. Gnomes are a niche category and he doesn’t want to invest, so he’s out.
As the other sharks are dropping out, Daymond John wonders aloud how he can add value to this business.
Wendy explains that she needs a partner to help with marketing, SEO, and business strategy. Surprisingly, Daymond says he could do that for her and offered $200,000 for 35% equity.
Before Wendy can reply, Barbara also makes an offer. Immediately she offers $200,000 for 30% equity, plus a $1/unit royalty in perpetuity.
She also urges Wendy to move her business off of Etsy since a lot of the profits go to fees.
With both Daymond and Barbara interested, they quickly begin to undercut each other. Daymond revises his offer to 30% equity but includes a $0.50/unit royalty until $200,000 is paid.
Next, Barbara immediately drops the royalty from her offer, which prompts Wendy to ask Daymond if he would drop his royalty as well. He agrees, leaving Wendy with a tough choice between Barbara and Daymond.
Ultimately, she decides to go with Daymond. Was this a great match for the company? Keep reading our Wendy’s Gnome Shop update to find out.
All things considered, Wendy’s Gnome Shop has thrived after appearing on
Although you can still purchase some pre-made gnomes through Etsy, it looks like most of her sales are now on the Wendy’s Gnome Shop website. She now offers a “Gnome of the Month” subscription service for $25, as well.
Following the show’s air date, she featured a
So, with a product that makes people happy, we think our next Wendy’s Gnome Shop update will show that her business keeps booming!
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Kimberly is a writer for Shark Tank Recap. She has written episode summaries and updates across multiple seasons of Shark Tank, with a focus on complete and accurate information since 2021. She believes that getting the business aspects of each deal correct is extremely important for viewers and fans. Her favorite Shark Tank products are The Wobbles and Rocketbook!