Joanna Gaines Giving Away $50,000 in Honor of Magnolia's 18th Anniversary

Joanna Gaines opened Magnolia in Waco, Texas, on Oct. 15, 2003

Joanna Gaines
Photo: Cindy Ord/Getty

Joanna Gaines is in the giving spirit on the 18th anniversary of her business, Magnolia.

The HGTV star is giving away $50,000 to an entrepreneur to memorialize opening Magnolia on Oct. 15, 2003, nearly 20 years ago.

"I woke up this morning with butterflies in my stomach. A feeling that returns to me every October 15th — the day we opened Magnolia 18 years ago," Joanna, 43, wrote on Instagram Thursday alongside a throwback photo of herself and husband Chip Gaines in the original store.

"I can still hear the sound of the front door of that little shop opening, and the deep assurance that, despite how scared I was, I would never look back," she continued. "Chip had pushed me to take a chance on something I believed in — so win or lose, I already knew I'd never be the same."

That "little shop" has since bloomed into a booming homewares business, several books and HGTV stardom.

"I've said this before, but I truly believe that dreams beget dreams," Joanna continued. "And that sometimes all you need is someone to believe in yours, or a little momentum to keep you moving in the right direction."

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The design expert said that she "woke up this morning" with the "familiar feeling" of butterflies, saying that she "was sure that there was no better day than this one to move someone else's dream forward."

So, Joanna will give away $50,000 to someone who has a business idea they've been dreaming about or working toward. Details on the giveaway, and how to enter, can be found here.

"I can't wait to see what dreams you're ready to chase after✨," she added.

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