BareEase Pre-Waxing Treatment
NO DEAL
EPISODE SUMMARY
🕓 Air Date: October 18, 2013
Asking For:
$50,000 for 20%
Investor:
No Deal
Deal:
No Deal
PRODUCT SUMMARY
BareEASE offers a patented numbing kit designed to alleviate pain during bikini line grooming procedures.
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Background Story
BareEASE was founded by Dr. Edna Ma, a board-certified anesthesiologist, based in the United States. Dr. Ma’s background in pain prevention and management inspired her to create BareEASE. The idea for the product stemmed from Dr. Ma’s personal experience with the discomfort of undergoing a Brazilian wax. As someone dedicated to alleviating pain for her patients, Dr. Ma recognized the need for a solution to make hair removal procedures more comfortable.
Drawing from her medical expertise and desire to improve patient experiences, Dr. Ma embarked on developing BareEASE, a patented numbing kit designed specifically for use before waxing or laser hair removal procedures, particularly in the bikini area. Her goal was to provide individuals with a pain-free grooming experience while addressing a common concern in personal care.
Dr. Ma’s commitment to pain prevention and her firsthand experience with the discomfort of hair removal procedures drove her to create BareEASE. With a passion for improving people’s lives and a background in medical science, Dr. Ma set out to make a meaningful difference in the beauty and wellness industry through her innovative product.
The Product
BareEASE is a revolutionary numbing kit specifically designed for use before waxing or laser hair removal procedures, particularly in the bikini area. The kit includes a unique formula containing 4% lidocaine, which is the maximum strength available over the counter in the United States.
To use BareEASE, individuals simply apply the numbing cream to the targeted area before their appointment. They then wear the included panty, which helps to isolate the cream and prevent it from transferring onto clothing. The numbing effect of BareEASE allows users to undergo hair removal procedures with minimal discomfort, making the process significantly more bearable.
One of the key benefits of BareEASE is its ability to numb, soothe, and moisturize the skin, ensuring a more comfortable hair removal experience. The product’s proprietary formula has been granted a patent for its unique properties.
BareEASE can be purchased online through the company’s website or through select retailers. The retail price for the kit is $18, offering an affordable solution for individuals seeking a pain-free hair removal experience. With its ease of use and effectiveness, BareEASE has quickly become a popular choice for those looking to alleviate the discomfort associated with grooming the bikini line.
How It Went
The company’s position before Shark Tank
BareEASE, founded by Dr. Edna Ma, has shown promising growth since its inception. The company has primarily focused on online sales, with a strong emphasis on direct-to-consumer marketing. While their sales figures indicate steady progress, with $45,000 in sales in the previous year and a projected increase to $62,000 in the current year, there’s room for expansion, especially in terms of distribution channels. Most of their sales are made through their website, reflecting a need for broader retail partnerships to reach a wider customer base.
As for funding, BareEASE has likely relied on a combination of personal investment from Dr. Ma and possibly some external funding sources such as loans or angel investors. However, given the relatively modest sales figures and the company’s early stage, it’s unlikely they’ve secured substantial venture capital funding at this point. Partnerships and wholesaler relationships are crucial for BareEASE to scale its distribution. Currently, the company may have limited partnerships with retailers or wholesalers, but there’s potential for growth in this area. Targeting partnerships with beauty salons, spas, and specialty retailers could significantly expand their market reach.
BareEASE’s target customers include individuals seeking pain relief during waxing or laser hair removal procedures, particularly in the bikini area. Their customer base likely consists of both men and women, as the product appeals to anyone undergoing hair removal treatments. In terms of structure, BareEASE likely operates as a small team, with Dr. Ma leading product development, marketing, and sales efforts. As the company grows, they may need to expand their team to include roles such as sales representatives, marketing specialists, and operations managers to support their expansion efforts. Overall, while BareEASE has shown promise, there’s still work to be done to fully capitalize on its potential in the market.
The Negotiations:
During the negotiation process on Shark Tank, Dr. Edna Ma sought a $50,000 investment in exchange for a 20% equity stake in BareEASE. While pitching her product, Dr. Ma highlighted the pain relief benefits of BareEASE for individuals undergoing bikini line grooming procedures. The Sharks expressed interest in the product and engaged in a discussion about its market potential and competition.
Kevin O’Leary expressed concerns about the market size and the company’s growth rate, ultimately deciding to pass on the investment opportunity. Lori Greiner and Robert Herjavec commended Dr. Ma for her entrepreneurial spirit and personal journey but opted not to invest due to concerns about the founder’s commitment to the business. Mark Cuban questioned the scalability of the business and the founder’s dedication, ultimately deciding to pass on the opportunity as well.
Barbara Corcoran, while acknowledging the product’s potential, raised concerns about its retail pricing and profitability. Ultimately, none of the Sharks made an offer to invest in BareEASE. Dr. Ma gracefully accepted the Sharks’ feedback and expressed gratitude for the opportunity to pitch her product. Despite not securing a deal, Dr. Ma remained optimistic about the future of BareEASE and expressed her determination to continue building the business.
