Preparing your bed every day can be a very annoying task. Nita Gassen and Judy Schott's Better Mattress Headband is for those inconvenient bedrooms. With it, you don't have to lift the mattress onto the sheets. Better Bedder is valued at $3 million after inking a deal with Shark Tank's Lori Greiner.
Nita Gassen and Judy Schott
Nita and Judy are both mothers in New Orleans, Louisiana. NITA holds an education degree from the University of Southern Mississippi and Judy holds a J.D. from Loyola University New Orleans School of Law.
Gassen began his career as a teacher at University Montessori, while Schott got his first job at the Cleveland Barrios law firm. The two women met when they started working for insurance company Gilsbar.
The company eventually promoted NITA as a divisional sales manager. Judy, on the other hand, was initially hired as the Director of Professional Responsibility, but she later became the CEO of Gilsbar.
Introducing a better bed
It all started when Schott noticed one of her sons was complaining about the way his siblings were always too lazy to stay in bed. On the other side of town, Garson heard her neighbors complain about how their sheets kept slipping out.
Two empowered women talk about all this work. They came up with a solution that could fix everything. A sizeable headband that wraps perfectly around the corners of the mattress.
It holds the sheets on all sides, eliminating the need for constant laying. This product just saves time and effort. Better Bedder officially launched in 2018, and in 2020, its lifetime sales reached $476,000.
Making a Deal with Lori Greiner
Judy Schott and Nita Gassen had strong sales in 2021 but still lost a lot of money. They appeared on Season 12 of Shark Tank, asking for $150,000 for a 10% stake in the business.
Around this time, the startup was on track to make $1 million by the end of the year. As a result, most shark bites come with the promise of lower manufacturing costs.
Daymond John, Barbara Corcoran and Lori Greiner argue over who has the better offer. Due to her QVC background, the entrepreneur chose Lori's $150,000 offer at 18% off.
Updated after Shark Tank
The innovative bedroom product made $157,000 after two and a half months on TV. That's about 40,000 units and there's a lot of pressure to deliver the product to customers.
Although no QVC ads have been released yet, Lori put the PR team on Better Bedder. This helps the company reach more than 3,000 Walmart locations in the United States. It can be purchased on e-commerce sites like getbetterbedder.com and Amazon.
On Amazon, the giant headband averages 3.8 stars from more than 3,800 reviews. The founders are now designing new products for Airbnbs, Hotels and RVS. As of mid-2023, Bed Bedder has lifetime sales of approximately $10 million. Lori claims the company is on track to earn $20 million by the end of the year. Currently, Better Bedder is worth an estimated $3 million.
Categories: Shark Tank
Source: svlsf.edu.vn