Making your bed every day can be a very annoying chore. The Better Bedder mattress headband by Nita Gassen and Judy Schott was created to solve these inconveniences in the bedroom. With it, you can tuck in your sheets without having to lift up the mattress. This is a great product that Lori Greiner invested in on Shark Tank. As of 2024, Better Bedder is valued at $3 million.
Nita Garson and Judy Short
Nita and Judy are both mothers from New Orleans, Louisiana. Nita has a degree in education from the University of Southern Mississippi, and Judy has a Juris Doctorate from Loyola University New Orleans School of Law.
Garson began her career as a Montessori teacher, while Short’s first job was at the Cleveland Barrios Law Firm. The two women met while working for Gilsbar Insurance.
The company eventually promoted Nita to division sales manager. Judy, on the other hand, was initially hired as director of professional liability but later became CEO of Gilsbar.
Introducing Better Bedder
It all started when Short noticed one of her sons complaining that his siblings never made their beds. Across town, Garson heard her neighbors complaining that their sheets kept sliding out.
These two powerful women talked about all of these issues while working together. They came up with a solution that would solve all of them: a large headband that fits perfectly around the corners of a mattress.
It keeps the sheets in place on all four sides, eliminating the need to constantly make the bed. This product is a real time saver. Better Bedder officially launched in 2018, and by 2020, it had grossed $476,000 in sales.
Agreement with Lori Greiner
Judy Schott and Nita Gassen, who suffered heavy losses despite strong sales in 2021, appeared on Season 12 of Shark Tank and asked for $150,000 for 10% of their company.
Around this time, the startup was on track to be profitable by the end of the year, and because of this, most of the Sharks said yes and promised to reduce manufacturing costs.
Daymond John, Barbara Cochran, and Lori Greiner argued over whose bid was higher. Because of Lori’s QVC background, the entrepreneurs chose Lori’s bid of $150,000, or 18%.
Post-Shark Tank Updates
This innovative bedroom product made $157,000 in just two and a half months after it was on TV. That’s about 40,000 units, and we were under tremendous pressure to get the product to customers.
Although Better Bedder has not yet placed any ads on QVC, Lori built a PR team for Better Bedder. This helped the company reach more than 3,000 Walmart stores in the U.S. You can buy it on GetBetterBedder.com and e-commerce sites like Amazon.
On Amazon, the giant headband has received more than 3,700 reviews with an average rating of 3.9 stars. The founders are currently designing a new product for Airbnb, hotels, and RVs. Better Bedder has accumulated sales of more than $6 million and expects revenue to reach $20 million by the end of 2022. Currently, Better Bedder is valued at $3 million.
Categories: Shark Tank
Source: svlsf.edu.vn