CurlMix Beauty Products For Curly Hair
NO DEAL
EPISODE SUMMARY
🕓 Air Date: March 3, 2019
Asking For:
$400,000 for 10%
Investor:
No Deal
Deal:
No Deal
PRODUCT SUMMARY
CurlMix offers a revolutionary pure flaxseed gel for curly hair, providing moisturized, voluminous curls without the need for additional styling products.
WATCH HERE
IN A RUSH?
Click these to jump to the section you want to read.
Background Story
CurlMix, a dynamic hair care brand, originated from the entrepreneurial spirit of high-school sweethearts Tim and Kim, who hail from the vibrant South Side of Chicago. The founders, deeply rooted in their community, embarked on their business journey with a shared passion for addressing the unique needs of individuals with naturally curly hair. The inception of CurlMix sprouted from a genuine problem faced by individuals seeking safe and effective products for their curls. The duo identified that while flaxseed gel was a superb organic ingredient for styling curly hair, it wasn’t readily available in stores. In fact, many resorted to making it themselves at home, a process that proved cumbersome and short-lived.
Tim and Kim recognized an opportunity to revolutionize the accessibility of flaxseed gel, making it a game-changer in the hair care industry. Armed with determination and a desire to empower individuals to embrace their natural curls, Tim and Kim developed the best pure flaxseed gel on the market. Their innovative product promised moisturized, voluminous curls with enduring results, eliminating the need for constant reapplication throughout the week. This commitment to enhancing the confidence and beauty of those with curly hair became the cornerstone of CurlMix.
Both founders brought unique strengths to the table. Tim, a business major with a focus on Marketing and Supply Chain Management, and Kim, a tenacious hustler, navigated the challenges of entrepreneurship. Their collaborative efforts and strategic approach led them to a significant milestone, securing a spot on “Shark Tank” and showcasing CurlMix to a broader audience. The founders’ journey exemplifies resilience, creativity, and a dedication to catering to the diverse needs of the curly hair community.
The Product
CurlMix’s flagship product is a revolutionary pure flaxseed gel designed to meet the unique needs of individuals with naturally curly hair. This meticulously crafted gel is formulated to provide a hassle-free solution for styling and maintaining gorgeous curls. Boasting a blend of organic ingredients, CurlMix’s flaxseed gel works wonders by smoothing away frizz, adding an abundance of shine, and enhancing the natural curl pattern.
The product’s standout feature lies in its ability to deliver long-lasting results, meaning users don’t have to reapply throughout the week. Whether one has wavy, curly, super-curly, or kinky hair, CurlMix promises to cater to all curl sizes, offering a versatile solution for a diverse range of hair types.
Available for purchase, the product can be bought directly from CurlMix’s online platform. The price point typically ranges from $25 to $28 for a bottle, providing an affordable and effective option for those seeking a reliable solution for their curly hair care routine.
CurlMix’s flaxseed gel is not only a styling tool but a confidence-boosting essential for individuals embracing their natural curls. With its organic formulation and lasting effects, the product has garnered attention as a go-to choice in the curly hair care market, reflecting the brand’s commitment to quality, innovation, and customer satisfaction.
How It Went
The company’s position before Shark Tank
CurlMix has demonstrated remarkable performance, positioning itself as a significant player in the curly hair care market. The company’s financial health is robust, with year-to-date sales reaching an impressive $400,000 within the last nine months. This not only underscores the product’s market appeal but also reflects the brand’s ability to meet the growing demand for high-quality curly hair care solutions. CurlMix has strategically formed partnerships with notable collaborators and wholesalers to enhance its market presence.
Their partnerships extend to key players in the beauty industry, contributing to the widespread availability of CurlMix products. The company’s customer base is diverse, consisting of individuals with various curl types who seek effective and safe solutions for their natural hair. The strong sales figures are indicative of CurlMix’s resonance with its target demographic and the broader curly hair community.The brand’s financials indicate a positive trajectory, with profits projected to reach $180,000 by the end of the year. The availability of capital has allowed CurlMix to invest strategically in inventory, equipment, and marketing efforts to sustain its growth.
CurlMix’s current structure showcases a well-organized and agile team, efficiently managing operations and meeting the demands of a burgeoning market. The company’s commitment to staying online aligns with a focus on maximizing margins, leveraging e-commerce channels to reach a wider audience. The team’s ability to adapt to the dynamic nature of the beauty industry has contributed to CurlMix’s strong position, making it a formidable player in the curly hair care market.
The Negotiations:
The negotiations for CurlMix on “Shark Tank” were both dynamic and revealing, showcasing the founders’ resilience and the Sharks’ perspectives on the business. Tim and Kim, seeking a $400,000 investment for a 10% equity stake, entered the tank with confidence, emphasizing the unique value of their pure flaxseed gel for curly hair. The negotiation dance unfolded as each Shark expressed interest in the product’s potential but raised concerns about the competitive nature of the beauty industry.
Robert Herjavec stepped up with an offer of $400,000 for a 20% equity stake. However, the founders, valuing their company at $4 million, declined the offer, explaining that they envisioned CurlMix as the next billion-dollar beauty brand. The other Sharks, recognizing the challenges in the industry, voiced their hesitations. Mark Cuban, citing the need for substantial infrastructure and a potentially crowded market, decided to opt out early in the negotiation. Lori Greiner and Kevin O’Leary expressed concerns about the competition and the need for a significant market push, ultimately leading to their decisions not to invest.
Despite the Sharks providing insights into the challenges of the beauty industry, the founders stood firm in their vision and declined Robert’s offer, expressing their confidence in becoming the next billion-dollar beauty brand. The negotiation ended with no deal made, showcasing Tim and Kim’s steadfast belief in the potential of CurlMix, even in the face of the Sharks’ reservations.
