Shark Tank has launched many entrepreneurs into the limelight, and one of the standout success stories is Villy Custom shark tank, a company that offers customized beach cruisers. Founded by Fleetwood Hicks, Villy Custom has grown exponentially since its appearance on Shark Tank in season 3. This detailed update not only explores how Villy Custom became a Shark Tank success but also provides insights into how it evolved after securing an investment from Mark Cuban and Barbara Corcoran.
Net Worth of Villy Custom
The Net Worth of Villy Custom is estimated to be $9.3 million as of 2024. This valuation reflects the significant growth the business has achieved since its appearance on Shark Tank, with annual revenues reaching $3.9 million. The investment and guidance from Mark Cuban and Barbara Corcoran, combined with strategic decisions like the website overhaul and corporate bike program, have played a crucial role in increasing the company’s value and market presence.
Key Takeaways
- Villy Custom is a successful business that specializes in customized beach cruisers, allowing customers to design their bikes down to intricate details like the color of the bicycle chain.
- The company was founded by Fleetwood Hicks, who appeared on Shark Tank in season 3, pitching for $500,000 in exchange for 33% equity.
- Mark Cuban and Barbara Corcoran invested $500,000 for 42% equity, which fueled the business’s rapid growth.
- Annual revenue reached $3.9 million in 2024, marking significant success since its appearance on the show.
- Post-investment, the business saw substantial improvements, including a website redesign, the launch of a corporate bike program, and a jump in sales.
- Villy Custom’s Net Worth is estimated at $9.3 million as of 2024, driven by its continued growth, innovation, and Shark Tank exposure.
Highlights
- Business Pitch: Fleetwood Hicks pitched his custom beach cruiser business, Villy Custom, on Shark Tank, offering sharks an opportunity to invest $500,000 in exchange for 33% equity.
- Sharks’ Response: Mark Cuban and Barbara Corcoran offered $500,000 for 42% equity, which was accepted by Hicks after negotiations.
- Post-Shark Tank Success: Since appearing on Shark Tank, Villy Custom has flourished with increased sales, a revamped website, and the launch of a corporate bike program.
- Revenue Growth: As of 2024, Villy Custom reports an impressive annual revenue of $3.9 million, making it one of the more successful businesses to emerge from the show.
Overview of Villy Custom
| Category | Details |
|---|
| Business Name | Villy Custom |
| Founder | Fleetwood Hicks |
| Industry | Custom Bicycles |
| Product | Customized Beach Cruisers |
| Funding Raised | $10,000 (via Rock the Post Crowdfunder) |
| Investment Ask on Shark Tank | $500,000 |
| Equity Offered on Shark Tank | 33% |
| Valuation at Pitch | $1,515,151 |
| Sharks Involved | Mark Cuban & Barbara Corcoran |
| Final Deal | $500,000 for 42% equity |
| Sales at Time of Pitch | $130K (previous year), $250K (year-to-date) |
| Annual Revenue (2024) | $3.9 Million |
| Post-Shark Tank Milestones | – Redesigned website – Corporate bike program launched – $2M in sales (Season 6 update) – $3.9M in annual revenue (2024) |
| Key Growth Factors | – Shark Tank exposure – Investment from Cuban & Corcoran – Website overhaul – Corporate bike program |
Villy Custom specializes in customizable beach cruisers, where customers can design their bikes with a variety of features. From the frame color to the bike chain, every detail can be tailored to the customer’s preferences. The idea for the business came to Fleetwood Hicks after a trip to Venice Beach, California, where he rented a bike and was inspired to create a unique brand that combined fashion with functionality.
Hicks initially started Villy Custom in 2009, running the business out of an old warehouse in Dallas that also served as his home. The business quickly grew as he gained a loyal customer base, primarily through word of mouth and online sales. Villy Custom was one of the first businesses to use the Rock the Post Crowdfunder platform to raise initial funds, successfully securing $10,000 from supporters.
Villy Custom’s Appearance on Shark Tank
In episode 313 of Shark Tank, Fleetwood Hicks entered the tank seeking an investment of $500,000 for a 33% share in his business. At the time, Villy Custom had made $130,000 in sales the previous year and $250,000 in year-to-date sales, all without spending a dime on advertising. Fleetwood was keen on transforming his bicycles into a high-end fashion accessory brand.
The Sharks were divided in their opinions:
- Daymond John liked the concept but wasn’t interested in entering the bike business. He was out.
- Kevin O’Leary also expressed interest but ultimately decided not to invest.
- Robert Herjavec appreciated the design and idea but disagreed with the valuation, so he was out as well.
However, both Mark Cuban and Barbara Corcoran were immediately taken by the vision and passion behind the business. They both made an offer of $500,000 for a 45% stake in Villy Custom. Fleetwood Hicks, understanding the importance of keeping control over his business, countered with 40%, and they settled on a 42% stake.
The deal was finalized after the due diligence process, and Hicks received the investment while on vacation in Hawaii, marking the beginning of a new chapter for Villy Custom.
Villy Custom Shark Tank Update: Post-Investment Success
Website Redesign and Sales Surge
After receiving the investment, Villy Custom underwent a major transformation. One of the first steps was a complete redesign of their website to make the bike design process smoother and more user-friendly. This website overhaul proved to be a game-changer, driving a significant increase in sales. Villy Custom was now selling around 100 bikes a week, which was a massive improvement from previous numbers.
The business also gained increased visibility due to the exposure from Shark Tank. Fleetwood Hicks was able to leverage the investment and media attention to boost marketing efforts, leading to even more rapid growth.
Corporate Bike Program
As the company grew, Villy Custom expanded its offerings with a corporate bike program, allowing businesses to purchase custom bikes as promotional products or employee perks. This strategic move was featured in a Shark Tank update segment in episode 404 of season 4, and it contributed significantly to Villy Custom’s revenue stream.
$2 Million in Sales
By season 6, Villy Custom had reached a milestone of $2 million in annual sales. The business had expanded beyond just beach cruisers, with the introduction of custom corporate bikes and further refinements in the design and customer experience.
Barbara Corcoran visited Villy Custom’s new facility, impressed by the scale of the operation and the growth the business had achieved. Fleetwood Hicks was thrilled with the results, acknowledging that the Sharks’ investment had been a key driver of Villy Custom’s success.
Villy Custom’s Path to $3.9 Million in Annual Revenue
As of April 2024, Villy Custom has reached an impressive $3.9 million in annual revenue, making it one of the top-performing companies from Shark Tank. The business has maintained steady growth over the years, expanding its product offerings and refining its business model.
Several factors have contributed to this success:
- Brand Recognition: Thanks to the exposure from Shark Tank, Villy Custom has become a household name in the custom bicycle space. The brand’s strong identity as a high-end fashion accessory has resonated with a wide audience.
- Innovation: The company has continuously innovated its designs and offerings, expanding into the corporate market and adapting to trends in the custom bike industry.
- Strategic Partnerships: The partnership with Mark Cuban and Barbara Corcoran has provided Fleetwood Hicks with invaluable guidance and business acumen. Their mentorship helped Villy Custom navigate the challenges of scaling a business and moving from a small operation to a major player in the industry.
Villy Custom’s Future: Continuing to Ride the Wave of Success
Looking ahead, Villy Custom is well-positioned for continued success. With $3.9 million in annual revenue and a growing presence in the custom bicycle industry, Fleetwood Hicks and his team are focused on expanding their offerings and reaching new customers. The company’s unique blend of fashion and function continues to attract customers who want personalized, high-quality bikes that stand out.
The future looks bright for Villy Custom, and Fleetwood Hicks is determined to keep riding the wave of success. With his Shark Tank investors by his side and a dedicated customer base, Villy Custom is set to maintain its position as a leader in the custom bike market.
Conclusion
Villy Custom is a testament to the power of a great idea, strong execution, and the right mentorship. From a humble beginning with a $10,000 crowdfunding campaign to $3.9 million in annual revenue, Fleetwood Hicks has shown that with determination, creativity, and a bit of help from the Sharks, anything is possible.
Villy Custom’s story is far from over, and with a solid foundation, innovative products, and continued growth, it will undoubtedly remain one of the most successful Shark Tank businesses to date.
