|SEASON 2 EPISODE 5|
|Pitch||Decorative magnetic skins for refrigerators|
|Asked For||$100,000 for 30%|
|Deal||$100,000 for 50%|
|Shark||Kevin Harrington and Barbara Corcoran|
|Status||ACQUIRED, IN BUSINESS|
What is Fridge Fronts?
Fridge Fronts are magnetic skins that attach to fridges and any other large, metal appliance. These skins transform even the dirtiest of fridges into works of art. The magnetic backings make removal easy and they come in a wide variety of colors and patterns.
Who are the Fridge Front Founders?
The company was started by Jan Augenstein in 2002. She received her Bachelor’s in Fine Arts from Wright State University and her Master’s in Counseling and Education from Boston University. After her education, she went into real estate in 1992. Augenstein has since sold her Fridge Fronts business to another company called Best Appliance Skins. Today, she works as a realtor and owns a staging business called Staging Fusion.
Augenstein’s business was founded eight years after she earned her Master’s. Her husband was in the military and they were living on the base. Magnetic skins were a cheap way for her to add some personal style to their home.
Her brother believed in her idea and invested $250,000.000. Six years after she started Fridge Fronts, she took the idea to Rachel Ray who advertised it on her show.
It was a huge success. There were so many interested viewers that they crashed the Fridge Front site. Unfortunately, the business that did their printing went bankrupt and was never able to complete the order. She had a solid idea but struggled with the logistics of operating her own company.