Mo’s Bows before Shark Tank
Mo’s Bows is a bow tie company started by young entrepreneur Moziah Bridges and his family in Memphis, Tennessee. Mo’s grandmother taught Mo how to sew as he loved to look great everywhere he went which led to the start of Mo’s company as everyone else wanted Mo’s bow ties too. Mo’s “passion for fashion” helped him grow his original bow tie into an actual business as he received tons of attention from media outlets including Oprah Magazine, the Steve Harley Show, and Forbes. By the age of 10, Mo was able to get his product into numerous retail stores in Memphis while also selling online. Wanting to find a manufacturer to help his growth and being a big fan of Daymond John, Mo applied to be on Shark Tank and was invited for Season Five.
Mo’s Bows on Shark Tank
Moe and his mother Tramica entered the Tank seeking $50,000 for 20% of their company. Mo began with his passion of why he loved to look great before going into the details of how the business began. Mo than handed out samples while Tramica pointed out that the Sharks are not only investing in the bow ties, but the future because Mo gives inspiration to so many people. Barbara was the first to mention that she found Mo charming and then asked him if they were selling the product. Mo mentioned they had sold 2000 bows which he and his grandma all made. Their total sales were $55,000 and Mo had his product in eleven different stores.
Daymond was also impressed by Mo and was interested in the numbers. Mo mentioned they make the bows for $5-$10 and sell them for $45-$55. Barbara wondered why Mo decided to make bow ties and Mo mentioned it was because he loved to dress up and the inspiration from his family. Barbara also mentioned she felt like she was watching Daymond John standing next to his mother. This led to Daymond’s responding that even he did not start his business that young and congratulating Mo. Daymond was now interested in what they would use the money for and Tramica mentioned it would be for a manufacturer. This was because they currently had stores who were waiting and were expecting growth as they were continuing to reach out to other stores. Kevin, unsurprisingly, was the first to bring up a critique by mentioning how expensive the product was, but Mark defended Mo stating that raising prices is essential when there is more demand than supply. Robert was wondering what Mo’s grandmother would say when he “fires her” after getting the manufacturer and Mo and Tramica said they would be fine with it as she wants to see the company grow.
Daymond was also wondering if Mo wanted to expand the business and Mo mentioned he was hoping to have his own clothing line by when he was 20. Daymond brought up another common question of why Mo felt he needed an investor and Mo responded by saying he would be the “next big thing.” Mark was proud of Mo and agreed with this statement, but didn’t have the fashion sense to help him and went out. Robert also mentioned he wouldn’t be the best partner, but knew there was someone who was and went out. Kevin, seeing big margins, was willing to make an offer as a royalty deal. Kevin offered Mo and Tramica $50,000 for $3 every time they sell a tie. Barbara came in and stated she felt they didn’t need an investor and could continue growing the business so she went out.
The one person left who everyone wanted to hear from was Daymond. Daymond gave his story of how someone offered him $10,000 for 40% of his company in 1989, but he declined the offer. 10 years later, that 40% would have been worth 40 million dollars. He gave Mo the suggestion of not taking on an investor, but agreed to mentor Mo which he felt was worth more than the money. Daymond then told Mo that he would have Mr. Wonderful as a mentor over him if he decided to take Kevin’s offer yet Kevin argued he was the only one who was willing to write a check. Mo and Tramica declined Kevin’s offer, but agreed to take Daymond on as a mentor to help take him the business to the next level.
Mo’s Bows after Shark Tank
Although Mo did not get a deal, he did indeed get the mentoring Daymond had promised him as shown in a Shark Tank update. One of the first things Daymond helped Mo do was find a manufacturer to keep up with his growth in sales from the Shark Tank effect. The manufacturer was Robert Stewart Inc., a company that has been hand-making ties for over 100 years in the USA. This fascinated Mo as it fit his original mission of wanting the product hand-made. Mo was also able to get a test-run of his bows in the luxury clothing store Neiman Marucas. Mo has since extended his product line and now also sells pocket squares. Mo had done a total of $200,000 since airing on Shark Tank.
Mo’s Bows has continued to grow after the Shark Tank update. Mo’s product is now available in multiple states, Canada, and the Bahamas. Mo’s passion and commitment to help others has allowed the company to continue being featured by multiple media outlets. Mo was also at the 2015 NBA draft where he supplied several bows to new draft pics. Mo was recently listed at one of the 30 most influential teens by Time magazine. Mo also travels around the country as a motivational speaker and with his passion and commitment, there is no doubt he will have his own fashion line by twenty and be the next the big thing.
Where can I buy this product?
Mo’s Bows can be bought directly from the Mo’s website at http://mosbowsmemphis.com. Mo’s website also contains a list of retailers that carry the product found here: http://mosbowsmemphis.com/pages/where-to-buy.
Nice to see the right deal being the no deal once in awhile.