Browndages Skin Tone Bandages
DEAL
EPISODE SUMMARY
🕓 Air Date: April 19, 2022
Asking For:
$75,000 for 7,50%
Investor:
Mark Cuban, Daymond John, Lori Greiner (33,33)
Deal:
$175,000 for 25%
PRODUCT SUMMARY
Browndages offers a line of flesh-tone bandages and character bandages, promoting diversity and inclusivity in the first-aid industry.
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Background Story
Rashid and Intisar, the founders of Browndages, are based in Columbus, Ohio, where they conceptualized their inclusive bandage brand. Prior to Browndages, Rashid had a background in marketing, while Intisar’s experience was in education. The idea for Browndages emerged from a personal experience where they noticed the lack of representation in everyday products, particularly in the standard flesh-tone bandages that did not match their own skin tones or those of their children.
Driven by the desire to create a solution that catered to people of diverse skin tones, Rashid and Intisar embarked on a mission to develop a line of bandages that accurately reflected the rich diversity of the community. Their motivation stemmed from the importance of fostering self-esteem and inclusivity, especially in children, who often felt left out or unseen in mainstream products.
Inspired by the need for representation and empowerment, they initiated the development of Browndages, focusing on both flesh-tone bandages and character bandages that featured images representing a wide range of diverse role models. As they experienced a surge in demand following social unrest and a growing awareness of racial inclusivity, their brand gained rapid recognition, capturing the attention and support of a rapidly expanding customer base seeking products aligned with their values of diversity and representation.
The Product
Browndages offers a comprehensive range of bandages designed to cater to individuals with diverse skin tones. Their product line includes flesh-tone bandages and character bandages, both serving as effective tools for wound care while promoting inclusivity and representation. The flesh-tone bandages are meticulously crafted to match various shades of skin, ensuring that individuals of all ethnicities can find a suitable match that seamlessly blends with their natural skin tone.
These bandages are equipped with standard adhesive properties, ensuring secure and reliable adhesion for effective wound healing. Browndages also offers character bandages featuring a diverse array of role models and inspirational figures, fostering a sense of empowerment and aspiration among users, particularly children. The character bandages not only provide essential first-aid care but also serve as motivational tools, encouraging youngsters to dream big and realize their full potential.
Browndages products are available for purchase through their exclusive online platform, providing customers with a convenient and direct-to-consumer shopping experience. Their pricing is competitive, with the flesh-tone bandages retailing at $4.99 for tins and $3.99 for paper boxes, offering affordability without compromising on quality. With a strong emphasis on representation and healing, Browndages has successfully carved a niche in the market, resonating with a diverse consumer base seeking products that reflect their values of inclusivity and empowerment.
How It Went
The company’s position before Shark Tank
Browndages has demonstrated commendable growth and resilience in the market, positioning itself as a trailblazer in the inclusive bandage industry. Operating primarily through direct-to-consumer sales on their website, the company has established a strong online presence, attracting a diverse customer base that aligns with their mission of representation and diversity. Despite facing challenges with inventory management and replenishment, Browndages has maintained a consistent monthly sales range of $7,500 to $10,000, highlighting the steady demand for their products.
While currently exclusive to online sales, Browndages has been in talks with potential partners, including Dollar General, showcasing their potential for expansion into larger retail outlets. Their vision involves targeting institutions such as schools, daycares, and hospitals, aiming to solidify their presence in various community-based settings. The brand’s commitment to inclusivity has resonated with a broad demographic, reflecting in their social media following, which surged from 10,000 to 75,000 within a short period, emphasizing the significant support and enthusiasm for their mission and products.
In terms of financial backing, Browndages has primarily relied on their direct sales revenue to sustain and grow their operations. With a sales record of $135,000 to $140,000 last year, the company has demonstrated steady progress and a strong foundation for future expansion. While their current structure revolves around online sales and limited distribution, the company is poised for strategic growth, with plans to secure partnerships with prominent retailers and community-based institutions, leveraging their strong brand ethos and customer support to drive further growth and market penetration.
The Negotiations:
During the negotiation process on Shark Tank, the sharks delved into Browndages’ market potential and the challenges associated with competing in the bandages industry. While some sharks expressed concerns regarding the scale of operations and the dominance of major players, others acknowledged the brand’s unique value proposition and its resonance with a diverse customer base.
Kevin’s initial offer of $100,000 for 30% reflected his confidence in the product’s potential, underscoring the importance of strategic partnerships and effective distribution channels in a competitive market. Lori’s collaboration proposal with Mark and Daymond aimed to leverage their combined expertise and networks to propel Browndages into a wider market, emphasizing the brand’s inclusive message and its relevance across diverse communities. Rashid and Intisar carefully considered the sharks’ offers, weighing the benefits of each proposal against their long-term growth strategy.
The founders’ willingness to negotiate and explore various options demonstrated their commitment to securing a partnership that not only provided financial support but also strategic guidance and market expansion opportunities. Ultimately, the decision to accept the joint offer of $100,000 for 25% from Mark, Lori, and Daymond symbolized the founders’ recognition of the sharks’ collective expertise and their shared commitment to Browndages’ mission. This agreement marked a pivotal moment for the company, setting the stage for accelerated growth and increased market presence, fueled by the combined efforts and resources of the experienced Shark Tank investors.
