Do you love decorating easter eggs but do not like the mess it creates? Or are you the type of person that wants to be the egg decoration process hassle-free yet interesting?
Here comes, EggMazing to resolve all your worries and give you a hassle-free egg decorating experience that is both delightful and entertaining to perform.
EggMazing at a Glance:
| Idea | A startup to help decorate easter eggs without creating a mess with dyes. |
| Founders | Curtis McGill and Scott Houdashell |
| Asked For | $350,000 for 7% |
| Accepted Deal | $350,000 for 10%+$2 royalty per packet sold |
| Sharks | Lori Greiner |
| Business status | In Business |
| Episode No. | Season 9, Episode 23 |
| Buy on Amazon | Buy Now! |
Index:
What is EggMazing?
EggMazing is a startup based around egg decorating. The method of its working is a hard-boiled egg kept between rubber wheels that are battery-operated.
The wheels spin the egg in circles. All we have to do is keep working our magic with the markers on the eggs.
The company aims at providing an egg decorating experience that is easier and a lot more fun than the conventional methods. The method used here also helps us to create eggs with unique designs each time.
Founder Story:
The founders of EggMazing had a lot of personal experience with egg decorating, which eventually gave them the inspiration to come up with a solution that solves this trivial yet widespread problem.
The founders saw that the traditional method of dunking the eggs into dye to decorate them was smelly and messy.
Apart from that children will have to be kept away from the activity due to health hazards from dyes, old vinegar, and other things used to decorate eggs. This led to the formation of EggMazing.
Did EggMazing get a deal on Shark Tank?
Curtis and Scott came on Shark Tank seeking an investment of $350,000 for 7% equity in their company, valuing them at $5 million.
They start their pitch by explaining how the conventional and tedious methods used for the decoration of eggs have still not been changed for generations now.
They also explain their sales, citing that they sold 10,000 units in just 23 days netting $150,000 with profits of around $45,000-$50,000.
The sharks were pretty impressed by the sales and the idea, so most of the sharks wanted to invest in it.
After a lot of brawls in the tank, the founders decide to go forth with Lori Greiner’s offer of $350,000 for 10% equity in the company.
She also brought in another condition, that she will have a $2 royalty over every unit they sell until all her money gets paid back.
What happened to EggMazing after Shark Tank?
The Shark Tank episode provided a marvelous platform for EggMazing, and the company kept moving forward without seizing any chance of growth.
The company has now made its products available on various online websites such as Walmart, Target, and on Amazon.
They also clocked $12 million in sales as of the calendar year 2020. It has now become one of the most niche products in this market.
In 2020, Wal Mart sales have gone up by 226% and Amazon’s by 4400%, showing how the episode on Shark Tank has provided them with the required fame.
Product Details:
- The product consists of 8 markers and battery-operated rubber wheels. The markers are non-toxic and fast-drying.
- The eggs and batteries are not included in the package.
- The package once delivered is non-returnable in nature.
- They have recently come out with new kits for Christmas and Halloween.
- The new packages contain a dinosaur egg decorating kit which comes with an egg with a dinosaur inside it.
What is the Net worth of EggMazing?
On the Shark Tank episode, the company asked for a valuation of $5 million and accepted Lori’s offer valuing them at $3.5 million.
After the airing of the episode on Shark Tank and their tremendous growth, the company has annual revenues of $5 million, as of July 2022.
Who are the competitors of EggMazing?
The main competitors of Eggmazing include Lux Pashion Kouture, Ozzie4x4, Shop Freddy Diaz, and Pley Family.
Is EggMazing still in business?
Yes, the company is still in business and is in fact breaking many sales records in the market.
Even though the company caters to a very seasonal product yet it has managed to stay afloat and even earn astonishingly satisfactory profits.
Social Links:
Do Share Your Thoughts:
Do tell us all your thoughts in the comments section below, we look forward to reading all the comments in the section below.
Also, don’t forget to try our Android app 📱 which contains startup case studies and business book insights 📚 , verified business strategies, and no bullshit!!
Related Articles:
FAQs:
What is EggMazing?
A startup to help decorate easter eggs without creating a mess with dyes. The company aims at providing an egg decorating experience that is easier and a lot more fun than the conventional methods.
What's the net worth of EggMazing ?
On the Shark Tank episode, the company asked for a valuation of $5 million and accepted Lori’s offer valuing them at $3.5 million. The company has annual revenues of $5 million, as of July 2022.