Ever watch an episode of Shark Tank and think “that idea’s gonna be huge”, then a few years later it’s just gone? That’s kinda what happen with HangEase. It was one of those clever simple products that looked like it could take off, but somehow it didn’t. So why did HangEase go out of business, and what can we learn from it? Let’s talk about it cause there’s actually a lot here for any small business owner or inventor to pick up from.
What Was HangEase
HangEase started out as a kid’s school project. Ryan Landis, just a third grader at the time, made a hanger that could fold in the middle so shirts wouldn’t stretch or tear when you took them off. Sounds like a tiny thing but honestly, it’s pretty genius.
When Ryan first started, he even sold around 400,000 units and made about seventy grand profit — not bad for a 9 year old. Years later he brought HangEase to Shark Tank, asking for 80k for 30 percent of the company. He actually got a deal with Mark Cuban and Lori Greiner, but like lots of Shark Tank deals, it didn’t end up going through later.
According to Shark Tank Blog, the product had been in Walmart stores before, and Ryan had a patent for his invention, but after the show aired, not much happen. The site went offline, the socials stopped updating, and you couldn’t find HangEase anywhere anymore.
Why Did HangEase Go Out of Business
There wasn’t one single reason HangEase disappeared. It’s more like a bunch of small things that stacked up until it just didn’t make sense to keep going.
Weak follow-through after the show
After Shark Tank, most businesses have a small window to really grow. HangEase didn’t seem to catch that momentum. The deal never closed, and it doesn’t look like Ryan had a plan ready to scale up production or marketing. Once that initial attention faded, sales dried out too.
Patent problems and competition
Ryan said he had a patent for the folding design, but even Lori mentioned on-air that she’d seen similar ones before. That kinda undercut the “unique” factor. Without strong patent protection, other companies could easily copy the idea, and probably make it cheaper overseas.
A tough low-margin product
Let’s face it — hangers are cheap. You can buy 10 of them for a couple bucks. HangEase was cool, but it cost more to make. Kevin O’Leary called it “too expensive for a hanger,” and he wasn’t wrong. In low-price categories like that, if your margins are thin and your costs are high, it’s hard to compete.
Lost momentum during key years
Ryan made his first sales when he was a kid and then paused everything for like a decade before Shark Tank. By then, other similar products had come out. That long break meant starting over from scratch. Timing’s a big deal in retail — if you stop for too long, your product basically disappears from memory.
Founder focus shifted
Reports say Ryan later went into other jobs and projects, not really sticking with HangEase full-time. Once a founder’s not fully into it anymore, small products like this one rarely survive. Someone has to constantly push marketing, supply chain, partnerships — all the unfun stuff that keeps a business running.
What Entrepreneurs Can Learn
There’s a few lessons from the HangEase story that any startup or inventor can relate to.
Keep momentum going. Getting exposure is great but you gotta keep moving after that. A few days of TV buzz doesn’t mean your product will sell forever.
Build a brand, not just a product. HangEase was a clever tool but didn’t build a story or image people could remember. A strong identity could’ve helped it stand out in a boring category like hangers.
Understand your market’s limits. If your product’s too pricey compared to everything else on the shelf, you either need to convince people it’s worth it, or lower your cost. HangEase couldn’t do either.
Stay consistent. Big gaps between product runs or marketing updates make people think the brand’s dead, even when it’s not.
And don’t rely on one big moment like Shark Tank. It can help, but it’s not a business plan by itself.
Pros and Cons of the HangEase Story
Pros
- Solved a real, annoying everyday problem
- Early success and even retail placement at Walmart
- Got massive national exposure on Shark Tank
Cons
- Poor marketing and brand growth
- Weak follow-through and deal didn’t close
- Competition and price issues
- Long business gap that killed momentum
Common Questions
Was HangEase profitable?
Yeah, at first it was. The original Walmart deal made good profit, but it never scaled enough to stay alive long-term.
Did the Shark Tank deal really close?
No, it didn’t. Like many deals on the show, it fell through after due diligence.
Is HangEase still being sold?
No, you won’t find it in stores or online officially. Maybe a few secondhand listings but that’s about it.
Could HangEase have succeeded with a different approach?
Maybe. With better branding, a lower-cost version, and consistent leadership, it could’ve built a niche. But we’ll never know for sure.
The Bottom Line
So, why did HangEase go out of business? Because it had a good idea but not enough of the boring but necessary business stuff to back it up. Marketing, focus, pricing, execution — those matter just as much as a clever invention.
HangEase’s story is honestly kind of sad, but it’s also a useful reminder. Even the smartest idea can flop if you don’t follow through. Being on TV and having attention is cool, but if there’s no clear plan after that, it all fades away fast.
If you’re building a product right now, learn from it. Protect your idea, keep pushing your brand, and understand your numbers. And before you jump in, check out the U.S. Patent and Trademark Office to see how to secure your design legally. That small step can save your business later.
Because at the end of the day, a great idea’s only as strong as the person running it.
