Addison’s Wonderland
NO DEAL
EPISODE SUMMARY
🕓 Air Date: February 22, 2013
Asking For:
$90,000 for 20%
Investor:
No Deal
Deal:
No Deal
PRODUCT SUMMARY
Addison's Wonderland offers unique and exquisite children's bedding and decor, aiming to elevate the aesthetics of children's bedrooms.
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Background Story
Addison’s Wonderland was born out of Brittany Hayes’ frustration when she couldn’t find suitable bedding for her daughter’s room. Dissatisfied with the bland options available in the market, she took matters into her own hands and began designing her vision of the ultimate little girl’s room. Enlisting the help of her friend Brooke Bryant, they collaborated to create a line of children’s bedding and decor that stood out for its uniqueness and quality.
Brittany’s background in business, including her experience in running a successful granite company with her husband, provided her with valuable entrepreneurial skills. Together, they launched Addison’s Wonderland with the goal of becoming a household name for children’s decor.
The Product
Addison’s Wonderland offers a range of children’s bedding and decor items, including pillows, window treatments, and bedding sets. Customers can purchase products directly from their website, where they have the option to build their collection or buy individual items.
The bedding sets are priced at approximately $1,400 for a twin set, reflecting the brand’s high-end and exclusive positioning. However, the founders acknowledge the need to lower costs to reach a broader market and are seeking better manufacturing options to achieve this.
How It Went
The company’s position before Shark Tank
In their first year, Addison’s Wonderland has achieved $130,000 in sales with a gross margin of around 55%. The majority of their sales are made through their website, primarily driven by social media marketing. While they currently operate as a direct-to-consumer business, they are considering expanding into wholesale distribution to reach more customers. The founders aim to offer a wholesale rate by lowering manufacturing costs, which would require a different business model from their current direct-to-consumer approach.
The Negotiations:
Despite positive feedback on their product and performance, none of the sharks offered a deal to Addison’s Wonderland. The sharks expressed concerns about the high price point of the products and questioned the scalability of the business model. While some sharks admired the founders’ creativity and work ethic, they ultimately felt that the business could thrive without their investment. The founders left the tank disappointed but determined to continue growing Addison’s Wonderland independently.
