Foam Party Hats from Shark Tank

Foam Party Hats shark tank

Foam Party Hats are lightweight durable party hats made out of polyurethane. They come in a wide variety of vibrant colors and themes like sports, holidays, and animals. The handcrafted party hat company also offers customized hats for special occasions like birthdays or bridal showers. They have separate packages for companies looking for customized hats for a corporate event.

There are 600+ options to choose from, for the fun and eye-catching hats. They’re also made of high-quality material that doesn’t flatten your hair after you wear one. The company was started by Grace Rojas, who enjoyed sewing and making customized foam hats for weddings in her family. After migrating from Venezuela to escape the dictatorship, Rojas decided to turn her hobby into a business.

She first started making hats for friends and family in the US, then selling them in Houston fairs. The product started to get more and more attention. After her son, Manuel graduated from college, he decided to help his mother turn her gift into a proper business. The employees were trained to make the hats by hand the same way that Rojas did. The company now sells thousands of party hats and is famous for having customized hats for major institutions like New Orleans Mardi Gras, FIFA, and even Google.

Before coming to Shark Tank, their sales were decent and they were mainly selling through Amazon. However, they struggled with getting new employees because of their high standards. So they were hoping to get a Shark Tank investment to help them with production and distribution.

Are They Still an Active Company?

Yes, the company is active and still in business.

How Did the Shark Tank Pitch Go?

Grace and Manuel came to Shark Tank seeking an investment of $100,000 for a 10% stake in their company. They started the pitch by sharing the story behind the hats and came wearing two foam hats. They also distributed customized hats for each Shark. Kevin received a chef hat while Lori got a jewelry-themed one. They shared that their sales had been good before the pandemic and had even doubled from 2018-2019 but the pandemic had negatively impacted their company.

The drop in sales forced them to shift to selling on Amazon. They’d managed to generate $25,000 in revenue when they first started and by 2019, they’d managed to reach $145,000. In the year of the episode, they’d managed to make $153,000 in annual revenue through sales. They added that the reason their production was lagging is because each hat was handmade and they were hoping to expand their team.

Manuel shared that their most popular hat had been the COVID-themed one and they were hoping to bring back that attention to their brand. The Sharks weren’t so enthusiastic at first, Kevin stepped out first followed by Mark, who thought they lacked a clear sense of direction. Daniel felt that Manuel wasn’t really committed since he was trying to balance the company with a full time job. He offered $100,000 for a 30% stake in the company on the condition that Manuel would quit his job and focus on the business.

At this point, there was a bit of a conflict among the Sharks. Lori was interested in investing with Daniel but he didn’t take her on as co-investor. However, Mark did and they offered Manuel $100,000 for a 25% stake in the company. Manuel found the duo’s offer more advantageous than Daniel’s and chose to go with them.

Overall, the Foam Party Hats Shark Tank review was positive and they left with a good deal.

Our Review of Foam Party Hats

We decided to try out Foam Party Hats for ourselves to see how they would be in real life.

The good news is that the hats are actually quite affordable individually and even the packages are decent. They maintain a good standard of high-quality hats and it’s convenient to place an order on their website or through Amazon. They’re also lightweight and easy to wear plus they’re well designed to fit on most heads. They also have a wide range of customizable options for every occasion.

The bad news is that there are tons of alternatives to Foam Party Hats, and there are companies that offer even more options and focus more on the costume aspect than the party aspect. This means that they’re able to sell hats all year round, especially during Halloween and costume parties.

Pros of Foam Party Hats

  • Variety of options
  • Bright and vibrant colors
  • Affordable
  • Standard size
  • Good quality and design

Cons of Foam Party Hats

  • Cheaper alternatives
  • Aren’t really as in demand

Who Is Foam Party Hats for?

Foam Party Hats is a product that’s aimed at people of all ages and genders. The hats can be worn by kids at birthday parties or during Halloween/other holidays and they can also be worn by adults at bridal showers or corporate events.

Are There Any Alternatives?

Foam party hats are nothing new, there are many alternatives on the market.

The Tigerdoe Costume Hats are one good alternative to Foam Party Hats. These unisex hats come in a standard size that fits most people. They’re made of durable and soft fabric that’s easy to wear on your head. Just like the Foam Party Hats, these also come in a wide variety of fun themes.

Similarly, there’s also the Novelty Giant’s Foam Hats which are made of stiffer material but share the same features as the previously mentioned products.

Our Final Thoughts

Sure, there might be tons of options for foam party hat companies on the market but none will have the same quality and vibrancy of design as Foam Party Hats. Because of the high-standard the company has maintained, these hats are perfect for corporate events and other parties.

However, they’re also a little expensive as compared to cheaper alternatives.