Mod Mom was introduced as a furniture designing company that converts wooden boxes into Designer Toy Boxes for children without any machines they all are hand-made furniture that is made by the owner Kiersten Hathcock.
They are modern and affordable and take approximately 10 hours to finish a single piece. It was started after her husband lost their job, Kiersten takes a step to design and develop these types of furniture.
Mod Mom at a glance
|Business Idea||Designer-Modern-Toy box|
|Asked For||90,000 for 25% of equity|
|Accepted Deal||90,000 for 33% and royalty after half a million in sales.|
|Business Status||In Business|
Mod Mom are founded and developed solely by a young women entrepreneur named Kiersten Hathcock. Being a mom of her 2 children she somehow manages to work in their job, they solely design and develop them and convert them into finished goods as it begins a “one-man show”. She started her business to support her husband when he lost her job.
Did Mod Mom get a deal on Shark-Tank?
They have shown their sample to sharks and told them about its various features, designs, and uniqueness. They told them that, they produce their products, especially for children segments only. They told them about their operations as follows:
- They have sales of $34,000 in last year.
- They have retailers in over 17 countries, including Canada, England, and Brazil etc.
- They secure about 75% of profit margin.
- They made over 328 boxes with their hands.
- The cost of manufacturing a unit is $115, and soled at $475 including shipping.
- They want sharks to help him in to set-up their manufacturing unit with an “Amish Manufacturer” in Ohio.
- They planned to split 90,000 in 2 parts, first 60,000 for their case goods and another for their branding.
Firstly they get an offer from Kevin O’Leary for $90,000 but for 33% of equity along with a royalty of 7.5% on every unit sold till they get their investment back. Secondly, Robert Herjavec offers him $90,000 for 33%, and royalty but after that when its sales reached over half-million. She accepted Robert’s deal and they get a deal on Shark-Tank.
What happened to Mod Mom after Shark-Tank?
After the show, Mod Mom receives a huge demand for their products, as its brand is recognized throughout the country. The sales of the company increased massively and they increased her manufacturing abilities.
Robert quits the deal by saying that they are still a little bit small” and told him to come back to him after a year. After Robert’s incident, they can’t be stopped although their family and friends collect $30,000 to invest in his business. In 2012, they received a message from a true potential investor from San Francisco, who offers them a far better deal as compared to Robert’s Deal.
In 2014 they landed a licensing deal with Stanley Furniture and hired as a spokesperson for Stanley’s youth division called Young America. In 2019 She introduced her first-ever-kids table and chair set inspired by Frank Lloyd Wright. As of November-21, the company is able to generate over $2 Million in its Annual Revenue and looking forward to more.
Competitors of Mod Mom:
The competitors of Mod Mom furniture are as follows:
- Lumi Furniture:- It is a premium online furniture shop that is situated in Las Vegas, Nevada USA. That deals with the premium range of furniture within an affordable price range.
- Folioworks Furniture:- It is also a direct competitor of Mod Mom Furniture as it deals in the child furniture segment which is the USP of Mod Mom Furniture. Its headquarters is based in Braeside Virgin Island USA.
The following chart shows the difference in Revenue and Employees of different company.
|Mod Mom||2-25||Approx. $25 Million.|
|Lumi Furnitures||8-10||Approx. $1 Million|
|Folioworks Furnitures||8-10||Approx. $1 Million|
Net Worth of Mod Mom:
At the time of the shark tank appearance, Mod Mom was valued at around $270,000. After the show, it gains massive popularity and is able to sell its products throughout its comfort zone the sales of the company is increased up to $2 Million in just 2 years after the show after her licensing deal it increases its production and are able to achieve $5 Million in sales in just a few years after the show.
In December-21 Mod Mom is able to generate $2 Million in Revenue. Currently, the company is performing well in its category and is valued at up to $25 Million Net Worth.
Is Mod Mom still in Business?
Mod Mom is still in business and performing very well in the market. Also. Mad Mom is valued at around $25 Million after 11 years since the show, so it seems the company is performing great in the market.
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What is Mod Mom?
Mod Mom was introduced as a furniture designing company that converts wooden boxes into Designer Toy Boxes for children.
Who founded Mod Mom?
Mod Mom are founded and developed solely by a young women entrepreneur named Kiersten Hathcock.