Mo’s Bows Bow Ties
NO DEAL
EPISODE SUMMARY
🕓 Air Date: April 25, 2014
Asking For:
$50,000 for 20%
Investor:
No Deal
Deal:
No Deal
PRODUCT SUMMARY
Mo's Bows offers handmade bow ties, known for their quality and unique designs, appealing to customers seeking classic swag.
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Background Story
Mo’s Bows, based in Memphis, Tennessee, is not your typical fashion startup. At its helm is Moziah “Mo” Bridges, an extraordinary 11-year-old entrepreneur with a passion for style and creativity. Mo’s journey into the world of fashion began at a young age when he realized his love for dressing up. However, he encountered a problem familiar to many: a lack of bow ties that matched his unique taste and personality. Instead of settling for what was available, Mo took matters into his own hands.
With the guidance of his supportive grandmother, he learned the art of sewing and started crafting his own bow ties. This hands-on approach not only allowed him to create pieces that resonated with his personal style but also ignited a spark of entrepreneurial spirit within him. Mo’s Bows quickly gained attention for its high-quality craftsmanship and distinctive designs. What started as a small-scale operation in Mo’s home soon blossomed into a thriving business, with Mo and his grandmother meticulously handcrafting each bow tie.
Despite his young age, Mo’s determination, creativity, and business acumen have propelled him to success, earning him recognition from both customers and the media. His story has inspired people of all ages, showcasing the power of passion, hard work, and determination. Mo’s Bows isn’t just about selling bow ties; it’s about empowering individuals to pursue their dreams and turn their passions into reality. As Mo continues to expand his business and make his mark on the fashion industry, his journey serves as a reminder that age is no barrier to entrepreneurship and success.
The Product
Mo’s Bows offers a delightful array of handcrafted bow ties, each a testament to Mo’s creativity and attention to detail. Crafted with precision and care, these bow ties boast unique designs and vibrant colors, catering to customers seeking to add a touch of sophistication and flair to their attire.
Made from high-quality materials, Mo’s Bows are not just accessories; they’re statements of individuality and style. Whether you’re dressing up for a formal event or adding a pop of color to your everyday outfit, these bow ties are versatile enough to complement any look.
Each bow tie is meticulously crafted by Mo and his grandmother, ensuring impeccable quality and craftsmanship. Customers can choose from a variety of designs, ranging from classic patterns to bold prints, allowing them to express their personality and sense of style.
Mo’s Bows can be purchased directly from their website or at select retail locations across the South. Prices range from $45 to $55, reflecting the premium quality and craftsmanship of each piece. With every purchase, customers not only acquire a stylish accessory but also support a young entrepreneur’s dream and journey towards success.
How It Went
The company’s position before Shark Tank
Mo’s Bows has shown remarkable growth and resilience in the fashion industry, led by the vision and determination of its founder, Moziah “Mo” Bridges. Despite being just 11 years old, Mo has established a thriving business that has captured the attention of both customers and media outlets. The company’s health and position in the market are strong, with increasing demand for its handcrafted bow ties and a loyal customer base. Mo’s Bows has cultivated partnerships with a variety of retail outlets, including 11 stores across the South, where their products are sold. Additionally, Mo has explored opportunities with larger retailers like Macy’s and Dillard’s, showcasing the brand’s potential for further expansion.
The company’s primary customers include individuals seeking unique and stylish accessories to complement their outfits, as well as gift buyers looking for special and memorable presents. Mo’s Bows has also garnered attention from fashion enthusiasts and influencers, further enhancing its visibility and appeal. Currently, Mo’s Bows is self-funded, with profits reinvested into business operations and expansion efforts. With increasing demand and a growing customer base, Mo’s Bows has ample opportunity for further growth and success.
The company’s structure is relatively lean, with Mo and his grandmother overseeing production and operations. As Mo continues to pursue his entrepreneurial journey, he may explore additional funding opportunities to support expansion initiatives and scale the business effectively. Nonetheless, Mo’s Bows stands as a testament to the power of passion, creativity, and hard work, inspiring individuals of all ages to pursue their dreams and make a mark in the world of fashion.
The Negotiations:
During the negotiations on Shark Tank, Moziah “Mo” Bridges presented Mo’s Bows with enthusiasm and confidence, garnering admiration from the Sharks for his entrepreneurial spirit at such a young age. Mo initially sought $50,000 in exchange for a 20% stake in his company. Kevin O’Leary made the first offer, proposing a royalty deal where he would provide the $50,000 investment in exchange for $3 from every bow tie sold, without taking any equity.
Barbara Corcoran and Kevin both expressed interest in Mo’s potential but decided to opt out, with Barbara highlighting the family-oriented nature of the business and the support Mo receives from his grandmother. Daymond John offered valuable mentorship instead of financial investment, advising Mo against taking on investors at his age and emphasizing the importance of building the business steadily.
Ultimately, Mo declined Kevin O’Leary’s royalty offer and accepted Daymond John’s mentoring offer. Despite the allure of financial investment, Mo valued the guidance and support offered by Daymond, recognizing the importance of learning and growing under his mentorship. The negotiations showcased Mo’s maturity and strategic thinking, highlighting his commitment to building Mo’s Bows into a successful and sustainable business with the guidance of experienced mentors.
