Whatever Happened To Better Bedder After Shark Tank?
It's funny how our beds can be both a source of comfort and a headache. While we all look forward to getting cozy under the covers, waking up and making our beds in the morning is an entirely different story. But with the Better Bedder, those worries are a thing of the past. Essentially functioning like a headband for your bed, the Better Bedder is a specially designed add-on that wraps around your mattress and tucks away your sheets, removing the need to lift and adjust. Additionally, the Better Bedder can also hold phones, glasses, books, and other items next to your bed.
Better Bedder is the brainchild of entrepreneurs Judy Schott and Nita Gassen. The idea came about after new beds purchased for Schott's summer home ended up being more of a hassle than they were worth, with her son preferring to sleep on the couch to avoid fixing up the sheets each morning. From there, Schott and Gassen worked on nights and weekends to find a solution, venturing to Home Depots and testing out various fabrics and curtains. Several prototypes came and went until the duo taught themselves how to sew and created a satisfactory item.
Their business quickly gained traction as they brought the product into local weekend markets. To see if it had any viability outside their Louisiana home, they decided to try out for "Shark Tank," eventually finding themselves on Season 12 of the hit ABC series.
What happened to Better Bedder on Shark Tank?
Judy Schott and Nita Gassen enter the tank seeking a $150,000 investment in return for a 10% stake in Better Bedder. They share that the item is perfect for the elderly or those with disabilities and that it can tuck sheets of any size. The company has different colors available, but white is the best seller.
The sharks get a little uneasy after hearing that the Better Bedder costs $33.50 to produce and sells for $63.50. Gassen explains that, due to complications caused by the COVID-19 pandemic, securing materials such as elastic has been especially difficult. They've also yet to figure out how to get production going overseas. The good news is that within a year and a half, the company has raked in $476,000, with projections of hitting $1 million by year's end. Even more remarkable is that the team has not had to resort to expensive marketing campaigns or influencer partnerships, with most of their sales coming from self-produced Facebook video ads and positive word-of-mouth. The investors are equally moved by Gassen's story of how she climbed out of debt following her divorce by living frugally for two years, resulting in her having enough to get a house.
Kevin O'Leary and Mark Cuban are in love with the entrepreneurial duo but don't see the business fitting within their portfolios. Barbara Corcoran enthusiastically offers the $150,000 for 20% of the company, while Lori Greiner and Daymond John both jump in asking for 25%. The team make a counteroffer to give up 18% equity and Greiner is the first to take them up on it. Despite Corcoran willing to go down to 15%, Gassen and Schott ultimately go with Greiner.
Better Bedder after Shark Tank
Getting offers from three investors is a rare occurrence on "Shark Tank" and it can be an overwhelming moment for entrepreneurs. So, did Judy Schott and Nita Gassen choose wisely when picking Lori Greiner as their investor for Better Bedder?
February 26, 2021 would see Better Bedder's "Shark Tank" segment air nationwide. The "Shark Tank" effect was alive and well that night as, according to a Season 13 update segment, the company sold $157,000 worth of Better Bedders within the 24 hours of being broadcast. Sales were almost too good — the team was unable to have their product featured on QVC for some time as they had a hard time keeping items in stock. On the plus side, they were also able to include their family in the business, including Schott's 92-year-old mother-in-law.
In the aforementioned "Shark Tank" update segment, the company announced its numerous achievements made since the show, including getting into 3,000 nationwide Walmart locations, further plans for worldwide distribution, and $2 million in lifetime sales. "Better Bedder is something that makes people's lives easier," Grenier shared in the segment. "There's no struggle, it's just done in a snap. I love products like that. The plan from day one was to do an infomercial and to try and blast the product into retailers nationwide and that's exactly what we did. Better Bedder is blowing up!"
Is Better Bedder still in business?
Currently, buyers can find Better Bedder's selection on the company website or in Walmart stores. The company offers Better Bedders for standard bed sizes such as twin, queen, king, and California king, as well as options for adjustable beds and RVs, with prices ranging from $39 to $79. Due to an excess of copycats and ripoffs popping up following "Shark Tank," Better Bedder no longer sells on Amazon and warns customers that such options are likely not up to its products' quality.
Reviews for the Bedder Better have been largely positive. While some customers have complained that sheets tucked into the Bedder Better might get annoyingly bunched up, a good majority have praised the product's ease of use and the company's exceptional customer service. On the website's review page, where 211 out of its 233 reviews are five-star ratings, one customer initially having trouble with their king-sized sheets commented, "It was a HUGE pain to change the sheets. My wife saw this and ordered it. I was skeptical, but we have been using it a month now and LOVE IT. Why didn't anyone think of this before? No more having to lift up our very heavy mattress and connect clamps and straps. And it keeps making the bed neat and easy too. Give it a shot. You won't regret it."
In the "Shark Tank" Season 13 update segment centered on Better Bedder, investor Lori Greiner claimed that the company was on track to hit $20 million in sales by the end of that year.
What's next for Better Bedder?
It's safe to say that the sharks know a good business when they sniff one out. Better Bedder may have yet to join the ranks of the show's biggest brands, but it could very well join that list in the coming years. Its simple yet universal product has global appeal while the company itself has the potential to unleash even more products that help customers sleep easier.
Co-founders Judy Schott and Nita Gassen shared their vision for Better Bedder's future in an interview with Biz New Orleans. Along with finding new opportunities within hospitality markets such as Airbnb and hotels, the team also hopes to uncover new avenues and inspire others in the process by sharing their success story. "We are looking forward to the day when Better Bedder is a name recognized worldwide," Gassen stated. "We also have been approached by several companies, including a Texas computer software company, asking about our marketing. On our next adventure, we hope to help others with their online marketing. We will show them how we took a product that didn't exist three years ago and catapulted it to 'Shark Tank,' and zero sales to over $2 million."