Wendy’s Gnome Shop creates uniquely designed gnomes for interior home decor. They use Styrofoam cones for gnomes with boots, while gnomes without boots have a wooden base reinforced with sturdy cardboard.
Each gnome weighs around 0.5 pounds and is intended solely for decoration; it is not a toy and is unsafe for children. Prices range from $25 to $60, and all products are handmade in Charlotte, North Carolina, USA.
| Company Name | Wendy’s Gnome Shop |
| Founder | Wendy Hoffmeister |
| Founded | Nov 2019 |
| Product | Gnome Maker small business |
| Asked For | $200k for a 20% equity |
| Final Deal | $200k for a 30% equity |
| Shark | Daymond John |
| Episode (Shark Tank USA) | S13 E8 |
| Air Date | Dec 10, 2021 |
| Business Status | In Business |
| Website | Visit Website |
| Headquarters | Charlotte, North Carolina, United States |
| Lifetime Worth (Sales) | $1.9M *estimated |
| Go To Amazon | Buy Now |
| Watch On | Amazon Prime |
Another Shark Tank Pitch
Who Is The Founder Of Wendy’s Gnome Shop?
Wendy Hoffmeister is the founder and CEO of Wendy’s Gnome Shop, with her daughter, Amber, also part of the business.
Originally a labor and delivery nurse, Wendy turned her passion into a gnome-making business. She previously worked as a registered nurse at Tampa General Hospital for two years and at Kaiser Permanente for four years, where she also served as an assistant nurse manager for two years.
Amber is both a nurse and a full-time gnome maker for the company.
How Was The Shark Tank Pitch Of Wendy’s Gnome Shop?
Wendy Hoffmeister appeared on Shark Tank, seeking $200,000 for 20% equity in Wendy’s Gnome Shop. She shared that 15% of sales come from her website and 80% from Etsy, where she’s a top gnome seller.
With a customer acquisition cost of $5, her gnomes retail for an average of $35 and cost $3.50 to produce. In 18 months, she achieved $688,000 in lifetime sales, selling 23,000 gnomes, and projected $750,000 in revenue with a $150,000 net profit for 2021.
Initially, all the sharks except Daymond John and Barbara Corcoran declined to invest. Daymond offered $200,000 for 35% equity, while Barbara countered with $200,000 for 30% equity plus a $1 royalty per unit in perpetuity.
Daymond adjusted his offer to match Barbara’s equity share and added a royalty of 50 cents per unit until he recouped his investment. Barbara then removed the royalty from her offer, and Daymond matched her revised offer.
Hoffmeister countered both sharks with a 25% equity offer, but they declined. She ultimately accepted Daymond’s offer for $200,000 in exchange for 30% equity.
Finalize: Daymond John invest $200k in “Wendy’s Gnome Shop” for 30% equity.
What Happened To Wendy’s Gnome Shop After Shark Tank?
Wendy’s Gnome Shop secured a deal with Daymond John on Shark Tank, with Daymond investing $200,000 for 30% equity. Although Barbara Corcoran made the same offer, Wendy ultimately chose Daymond.
After the episode aired, Daymond shared his thoughts on Twitter, as did Kevin O’Leary, while many viewers expressed surprise at the company’s impressive sales figures.
Never thought me and @BarbaraCorcoran would be against each other in a gnome battle 🦈🦈 Who do you think walks away with the deal?
@TheSharkDaymond
Who would’ve thought these little guys would be such money makers! I might have to jump into the gnome market if it really is this lucrative. #SharkTank
@kevinolearytv
Following Shark Tank, Wendy’s Gnome Shop saw a surge in orders, with daily sales increasing from 10-100 units to over a thousand. Wendy announced the high demand on Instagram on December 11, 2021.
By December 18, 2022, the Etsy store was sold out, and Wendy shared that it would reopen on January 1, 2023, with a Valentine’s Day gnome collection.
Despite the significant boost in sales, traffic to the company’s website has remained limited, with around 7,000 monthly visitors. Wendy came to Shark Tank hoping to increase direct sales through her website, as 80% of her sales were previously from third-party platforms.
Wendy’s Gnome Shop remains the top gnome seller on Etsy, and we continue to follow Wendy Hoffmeister and her business for updates.
What Is Wendy’s Gnome Shop Net Worth?
On Shark Tank, Wendy’s Gnome Shop sought an investment based on a $1 million valuation but ultimately secured funding at a $666,000 valuation. The company is profitable, reporting a net income of $150,000 at the time of the show.
Based in Charlotte, North Carolina, Wendy’s Gnome Shop employs a total of four women.
Yes, Wendy’s Gnome Shop is still in business as of December 2022.
