What Are Good Hangups?
GoodHangups are detachable magnet stickers that may be used to hang anything you can think of, including paintings, posters, Valentine’s cards, recipes, and maps. Almost any surface, including glass, wood, stone, brick, and even Ikea furniture, can be attached to the magnet sticker. It’s a great substitute for sticking objects to your wall with adhesives like thumbtacks, nails, and tape.
You can use the magnet stickers from GoodHangups on magnetic surfaces such as metal, aluminum, glass, and other materials as permanent or repositionable magnetic adhesives. Magnets from GoodHangups are powerful enough to hold permanent fixtures in place. Although the magnets may adhere to metal surfaces, we advise against leaving them there for a lengthy period of time. The advantage of GoodHangups is that they are actually quite easy and affordable to make.
Who Is the Founder of Good Hangups?
The creator of GoodHangups, Leslie Pierson, is a powerhouse. To arrange the artwork of her 4-year-old son, Pierson created the product. Pierson’s big imagination quickly outgrew the refrigerator, so he needed a way to display his artwork without ruining her walls.
A group of tiny metallic discs called GoodHangups can be fastened to practically any solid surface using re-usable, non-marking adhesive strips. The painting is “glued” to the discs using tiny magnets. Anyone who wishes to display posters, images, or artwork without worrying about framing them or causing damage to their walls should definitely consider this alternative.
In the fall of 2015, GoodHangups won the Today Show’s “Next Big Thing” competition, landing Pierson a spot on QVC. She was a huge success on QVC, selling out in a matter of minutes and doing well after that.
What Happened to Good Hangups at Shark Tank Pitch?
Despite her obvious success, Pierson needs money for a huge production run so she can start selling in significant retail stores, as seen in episode 2 of season 8 of GoodHangups on Shark Tank. Leslie requests $100,000 in exchange for a 10% ownership in her company, which has a $1 million market value. While telling her narrative, she places a picture of Kevin on the presentation screen.
She gives out samples before responding to questions. Of course, Kevin is intrigued by sales. The Sharks are impressed by her assertion that she made $450,000 in a little over a year. The remainder, according to Lori, came from a little over 100 retail stores, including The Paper Store, and she recalls seeing the products on QVC.
She believes she needs a Shark’s help to gain access to bigger channels. Her profit margins are well-liked by the sharks: an 8-pack costs $2.25 to create but $14.99 to sell. Although Mark loves Leslie, he does not think he is the right partner for him, therefore he is excluded.
Robert exits after declaring that he is not a creative or artistic person. It appeals to Lori, who offers $100,000 in exchange for a 20% ownership in the business. The other Sharks are squeezing Lori. Kevin counters with $100,000 for 10% stock shares while Daymond offers $100,000 for 15% equity shares. After presenting his proposal, Kevin tells Leslie, “I’ve given you leverage to squeeze Lori, now squeeze her!”
Leslie responds by requesting a $100,000 loan from Lori in exchange for 10% equity shares; if the loan is not repaid in a year, the equity rises to 20%. Lori concurs. And Leslie left the pitch with a contract in hand.
What Happened to Good Hangups After Shark Tank?
The contract with Lori was finalized after the broadcast aired and Leslie left the pitch with a deal, and the two of them made an appearance on QVC together. The item is currently available from Bed Bath & Beyond, Buy Buy Baby, and Amazon. The company is still operating as of November 2021 and makes $1 million in revenue annually.
Net Worth of Good Hangups:
The company was given a $1 million valuation both during and after the presentation, and since that time, it has been performing well in terms of sales, with an expected $1 million in annual revenue in 2021. This demonstrates why the company’s net worth increased.
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