Fridge Fronts Shark Tank Update | Fridge Fronts Net Worth

Fridge Fronts, featured in the first season of Shark Tank, is an innovative product designed to give your refrigerator a fresh and new look. The concept revolves around magnetic refrigerator skins that can be easily applied to the front of any fridge.

Fridge Fronts are designed to be functional and decorative, providing a simple and affordable way to transform an ordinary appliance into a stylish piece that complements the kitchen decor.

These Fridge Fronts come in various designs, colors, and patterns, enabling users to choose a style that aligns with their kitchen’s aesthetic or personal taste.

From solid colors to intricate designs, the options are broad and diverse, making it a versatile product that can cater to a wide range of preferences. The skins are also easily interchangeable, allowing users to change the look of their fridge as often as they like.

The product’s primary feature is its magnetic property, which makes it incredibly easy to install. Users can simply place the skin on the front of their fridge and adjust it as needed.

This convenience eliminates the need for any tools or professional assistance. Moreover, the skins are designed to be durable and long-lasting, ensuring that they can withstand everyday wear and tear.

Fridge Fronts are a great choice for those looking to revamp their kitchen without investing in new appliances or undertaking a full-scale renovation. They offer a cost-effective solution to update the look of a kitchen, and their ease of use makes them accessible to a wide range of people.

Changing the design on a whim allows users to experiment with different styles and themes. So, whether you want to add a pop of color, a unique pattern, or a sleek, minimalist design, Fridge Fronts offer a fun and practical solution to personalize your kitchen space.

Company NameFridge Fronts
FounderJan Augenstein
ProductRefrigerator magnetic skins with decorative designs
Investment Seeking$100,000 for 30% equity in Qubits
Final Deal$100,000 for 50% equity in Qubits
SharkKevin Harrington and Barbara Corcoran
Qubits EpisodeEpisode 15, Season 1
Qubits Business StatusAcquired
Qubits WebsiteVisit Website
Qubits Net WorthUndisclosed

What Is Fridge Fronts?

Fridge Fronts is an ingenious product that enhances your refrigerator’s and kitchen’s aesthetic appeal. Fridge Fronts are magnetic refrigerator skins designed to be applied to the front of your fridge, providing a fresh, new look.

These skins are available in many designs, colors, and patterns. This extensive variety enables you to select a style that perfectly matches your kitchen’s decor or resonates with your taste.

Whether you prefer solid colors or intricate patterns, Fridge Fronts can accommodate your preferences, making it a highly versatile product. Fridge Fronts are magnetic, which makes the application process extremely straightforward.

You simply adhere the skin to the front of your fridge and adjust it as necessary. This feature removes the need for tools or professional help, making it a convenient home improvement solution.

Fridge Fronts Shark Tank Update | Fridge Fronts Net Worth

Moreover, Fridge Fronts are designed for durability. They are made to withstand daily wear and tear, ensuring they remain in good condition for a long time. They are also easily interchangeable, allowing you to swap out one design for another whenever you feel like refreshing your kitchen’s look.

Fridge Fronts provide a simple, affordable, and effective way to transform your refrigerator and, by extension, your kitchen. They allow you to experiment with different styles and themes, enabling you to personalize your space according to your liking.

Whether you’re seeking a sleek minimalist design, a vibrant pop of color, or a unique pattern, Fridge Fronts offer a practical solution to meet your needs.

Who Is The Founder Of Fridge Fronts?

Fridge Fronts is indeed the brainchild of Jan Augenstein. A clever inventor with a knack for practical solutions, Augenstein saw an opportunity to give a simple appliance like a refrigerator a facelift, adding a personal touch to any kitchen decor.

The concept for Fridge Fronts came from a simple, everyday observation. Noticing how common it was for people to attach notes, photos, and magnets to their fridges, Augenstein realized that the refrigerator was more than just an appliance—it was a central piece in many homes, often in high-traffic areas.

With this insight, she came up with the idea of transforming a fridge’s plain, often overlooked exterior into a customizable canvas.

Before Fridge Fronts appeared on Shark Tank, Augenstein had already established a solid online presence. Customers could select from various designs and have their chosen fridge fronts conveniently delivered to their homes. This business model allowed Augenstein to reach a wide audience and cater to diverse style preferences.

Despite the product’s growing popularity, it was still a relatively small operation when Augenstein decided to pitch on Shark Tank.

She aimed to secure investment to expand production, increase marketing efforts, and ultimately bring Fridge Fronts into more homes and businesses.

How Was The Shark Tank Pitch Of Fridge Fronts?

In the Shark Tank episode, Jan Augenstein confidently presented her product, Fridge Fronts. She introduced herself as an entrepreneur from Yellow Springs, Ohio, and stated that she was seeking an investment of $100,000 for a 30% stake in her company, valuing Fridge Fronts at $333,333.

Augenstein explained the origin of her product, inspired by an unattractive refrigerator she had while living in base housing as an air force wife in 1999.

During her pitch, she demonstrated how Fridge Fronts, a magnetic skin for appliances, could be easily applied and cut to fit any refrigerator.

She emphasized its affordability and the ability it gives customers to customize their appliances. She also showcased the various designs, highlighting the most popular stainless-steel finish and other funky and regular finishes.

Robert Herjavec asked about her sales, to which Augenstein responded that they had made about $40,000 since starting in 2005 and getting their patent.

She mentioned the high cost of selling through Skymall, which resulted in them not breaking even. She also shared their challenges with their print house, which unexpectedly increased prices.

When asked about her inventory, Augenstein revealed she had 1,500 blank sheets ready for printing and about 1,000 sheets of old designs. She also shared her vision to expand the design options and allow customers to upload their images for customization.

Upon learning that Augenstein had invested $250,000 of her and her brother’s money into the business, Kevin O’Leary expressed that he saw Fridge Fronts as a product rather than a company and decided not to invest.

Robert Herjavec and Daymond John also withdrew, citing concerns about the business’s small size and custom-focused approach.

Barbara Corcoran, however, saw potential in the business but suggested limiting the designs to the three best-sellers. Kevin Harrington also expressed interest, and with Corcoran, they decided to match Jan’s initial investment request of $100,000 but for a 50% stake in Fridge Fronts.

Despite the higher equity ask, Augenstein accepted the offer, expressing later that Shark Tank was her last hope to save her struggling business.

Post Shark Tank, with the investment from Corcoran and Harrington, Augenstein was able to add over eleven million images to the Fridge Fronts website. Despite being initially dismissed as too small and custom-oriented by some Sharks, Fridge Fronts turned around and became a profitable company.

What Happened To Fridge Fronts After Shark Tank?

After appearing on Shark Tank and securing an investment from Kevin Harrington and Barbara Corcoran, Fridge Fronts experienced a significant transformation. Jan Augenstein, the founder, was able to overcome the financial struggles that were threatening the survival of her business.

With the new investment, Augenstein considerably expanded the range of designs available for Fridge Fronts. She added over eleven million images to the Fridge Fronts website, providing customers an incredibly diverse range of options for customizing their appliances.

Despite the challenges faced earlier and the skepticism expressed by some of the Sharks during the pitch, Fridge Fronts managed to become a profitable business. It successfully carved a niche in the market, standing out with its unique, patented product.

The company also garnered positive reviews from customers, many of whom were pleased with the quality of the product and the swift shipping. It became particularly known for its best-selling designs and ability to transform kitchen appliances’ aesthetics effectively.

Fridge Fronts continued to operate its online store, offering appliance skins that could be used for fridges, freezers, and dishwashers. Its products range in price from $34.95 to $99.95, depending on the design and popularity.

Ultimately, Fridge Fronts is a testament to the power of creative ideas and the impact of strategic partnerships and investments. Despite initial setbacks, the company managed to turn around its fortunes and establish a successful operation.

Fridge Fronts Shark Tank Update

After the appearance on Shark Tank, Fridge Fronts experienced growth and expansion. The company significantly increased its design choices and improved its product line to include options for non-magnetic appliances, offering designs in a removable adhesive film. They also provided more customization in sizes, reducing the need for customers to trim or cut the product to fit their appliances.

In addition, Fridge Fronts improved its business situation significantly due to the investments from Sharks Kevin Harrington and Barbara Corcoran. Both Sharks invested $100,000 for 50% of the company, which helped push the company forward.

Fridge Fronts’ founder, Jan Augenstein, sold the company to Best Appliance Skins in 2013 for an undisclosed sum. The new owners have expanded the business even further, boasting over 1 million images for their skins.

Fridge Fronts Shark Tank Update | Fridge Fronts Net Worth

After selling the business, Jan Augenstein continued to work as a realtor in Ohio and operated a home staging business. Despite her initial setbacks, her entrepreneurial journey with Fridge Fronts is a testament to the power of resilience, a good product, and the right investment.

Is Fridge Fronts Still In Business?

Fridge Fronts, as a standalone business, is no longer operational. It was prominently featured on ABC’s Shark Tank, where it did receive an offer. However, the deal did not reach a satisfactory conclusion and was eventually dropped.

Post this, the ownership of Fridge Fronts changed hands. The new ownership decided on a strategic shift for the business. Instead of continuing with the brand Fridge Fronts, they decided to phase it out. This decision paved the way for a new company and a modern, more efficient website.

The new company, Best Appliance Skins, is now the successor to Fridge Fronts. It offers over 1 million images, including stainless steel and colored magnet skins.

They have retained the core business model of producing magnet skins for appliances but have enhanced the user experience by offering a streamlined, easy-to-navigate website that is also mobile and tablet friendly.

So, while Fridge Fronts as a brand is no longer active, its spirit lives on in Best Appliance Skins.

What Is the Net Worth Of Fridge Fronts?

According to our research, the net worth of Fridge Fronts is unknown since Best Appliances Skin acquired the company for an undisclosed amount. The valuation of Fridge Fronts was $1 million after securing an investment from Kevin Harrington and Barbara Corcoran on Shark Tank.

Also, read other businesses that appeared on Season 1 of Shark Tank:

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