From $50,000 to $5 Million

Happy Friday!

Thanks to everyone who took the time to vote in the poll last week! And a special shout to those who left kind comments. It means a lot, truly!

It seems the new format was pretty popular, so I’m going to stick with it!

Today, I’m going to tell you about a company from Season 9 called Eggmazing.

They’ve had a pretty interesting journey, and went from $50,000 in annual sales to over $5 million!

Let’s get to it!

Scott Houdashell and Curtis McGill, the founders of Eggmazing, brought their innovative egg-decorating kit to Shark Tank, where they secured a deal with Lori Greiner.

She invested $350,000 for 10% equity, along with a $2 royalty per unit until her investment was repaid.

Following the airing, Eggmazing saw an immediate boost in visibility and sales, quickly becoming available in major retailers like Walmart and Target. Within a year, the company reported an impressive $12 million in sales!

Building on this success, Eggmazing diversified its product line to include new themes and holiday-specific kits. Notably, they introduced the Treemendous Ornament Decorator, a similar concept for decorating Christmas ornaments, and a Halloween-themed kit for pumpkin decorating.

This expansion allowed the company to tap into various holiday markets, maintaining year-round relevance rather than being confined to Easter alone.

Since they started releasing products for other holidays, the company also re-branded to Hey Buddy Hey Pal.

As of July 2022, Eggmazing reported annual revenues of $5 million and continues to grow and innovate. The combination of engaging designs, seasonal relevance, and a strong retail presence has helped Eggmazing maintain its appeal among consumers.

The success of the initial egg decorator kit paved the way for the company to explore and capitalize on other decorating opportunities, proving that the concept had long-term viability.

I should also mention Lori Greiner’s involvement, which has been crucial. Her expertise in retail and product promotion provided the necessary guidance and resources for Eggmazing to scale effectively.

The deal on Shark Tank was not just a financial investment but also a strategic partnership that leveraged Lori’s extensive network and experience.

It’s always great to see a deal work out well for the entrepreneurs and the shark!

If you’re interested in seeing all of Eggmazing’s products, you can find them on their website!

That’s all for this week! If you don’t mind, please take a second to leave some feedback on this email.

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Talk soon,
Andrew Smith