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FoHawx Shark Tank Update

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FoHawx is an interesting way of creating something unique out of a boring-looking helmet, which does not look fun to kids and that is why they sometimes refuse to wear it. FoHawxs come with a Velcro strip and a Mohawk. The velcro strip has to be removed, and adhered to the helmet and the Mohawk needs to be attached to it to create an enjoyable helmet, especially for children.

FoHawx is a simple way to make safety exciting for kids and not force them into wearing helmets because they are interested in wearing the quirky helmets themselves.

FoHawx at a Glance:-

IdeaFoHawx:- decorated and fun design helmets.
FoundersJocelyn Fine and Kelly Dineen
Asked For$150,000 for 30% equity
Accepted DealNo deal
SharksNo sharks
Business statusOut of Business
Episode No.Season 5, Episode 11

Index:

Who are the founders of FoHawx?

Jocelyn Fine and Kelly Dineen are the founders of FoHawx. Jocelyn used to work as a business development consultant, whereas Kelly Dineen used to work in a visual merchandising management team. Jocelyn shared that the real founder of FoHawx is her daughter Maya.

Jocelyn’s son didn’t like to wear his helmet, so Maya took his helmet, cut out a piece of paper, and stuck to it. Maya enjoyed her creativity and with her friends she made various designs for the helmet Jocelyn noticed the positive response and from them, she got an idea of Fohawx and that’s how it came on the market.

Did FoHawx get a deal on the Shark Tank?

Jocelyn and Dineen came on the show in season 5, episode 11. Dineen and Jocelyn, founders of FoHawx, came on the show seeking an investment of $150,000 for 30% equity in exchange. Ladies entered the show with a bunch of kids on bikes and trikes, wearing helmets featuring various decorations attached to them, which was a kind of demonstration for sharks to understand the business and its effectiveness. Ladies shared the other contributing factors.

https://www.youtube.com/watch?v=faac89-AhD4

When Kevin asked about the sales, Dineen replied that to date they had sold products worth $50,000 in over 80 stores. Kevin O’Leary said, as an investor, I believe that sales are too low on a yearly basis and, therefore, he’s out. The ladies had a short debate with Kevin about the low sales, but in all the matters, the sales were not the reasons behind them. Barbara Corcoran suggested ladies face reality and go out.

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Mark Cuban also came up with a rhyme. Robert Herjavec said there was a huge competition in the market and he didn’t think Fohawx would survive for long and leave. Daymond John agreed to the point given by Kevin and went out for the same. All the sharks were out and still, the ladies were not ready to accept the reality. No deal was offered and the pitch was closed.

What happened to FoHawx after the Shark Tank Show?

After the show, once the show aired, FoHawx enjoyed the number of customers and traffic on their website, but all that was for a while. During the pitch, the ladies took their conversation into fighting mode, in which all the sharks asked them to leave the platform. Ladies were not ready to accept the reality sharks were trying to show them, but soon after the show, the founders of FoHawx realized that sharks were correct and the price factor started to cut down their sales.

During the pitch, they came up with a valuation of $500,000 but they were selling for so high that they disappointed all the sharks and the offered valuation was offered. After one year of their appearance in the shark tank, FoHawx closed their business. The FoHawx concept and its founder’s story is interesting to go through. 

Fohawx costs $5 per unit to manufacture and is sold for $19.99 to retailers.  During the show, sharks also suggested lowering the costs to $9.99. FoHawx was available on Amazon, Walmart, and Toy RS. As of 2022, they are out of business. There are rumors that ladies will be back with something new.

Competitors of FoHawx are:-

A few of the alternative brands to FoHawx are,

  • Giro Scamp
  • Schwinn Infant
  • Joovy Noodles
  • Kali Chakra
  • Thousand Jr.
  • Strider Full Face

What is the net worth of FoHawx?

The valuation at the time of the show was $500,000. The estimated net worth of FoHawx is unidentified, as it closed a year after the show aired.

Is FoHawx still in business?

FoHawx is out of business. After the show aired, their high price led their whole business prices down.

FoHawx Social Links:

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FAQs:

What is FoHawx?

FoHawx is an interesting way of creating something unique out of a boring-looking helmet, which does not look fun to kids and that is why they sometimes refuse to wear it. FoHawxs come with a Velcro strip and a Mohawk.

Who founded FoHawx?

d Kelly Dineen are the founders of FoHawx. Jocelyn used to work as a business development consultant, whereas Kelly Dineen used to work in a visual merchandising management team. Jocelyn shared that the real founder of FoHawx is her daughter Maya.

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