It’s never a good idea to share lip balm with friends. Imagine, you want to help their chapped lips but they give you their germs in return. Yuck! That’s why Liz Moskow and Abby Schwalb created a sharable lip balm with a specially designed, “Friend End”. Will the sharks offer them a deal on
Shark Tank Balm Chicky Balm Balm Update
- Entrepreneurs: Liz Moskow and Abby Schwalb
- Business: Sharable lip balm
- Ask: $75,000 for 20% equity
- Result: No deal
- Sharks: None
Liz and Abby brought their self proclaimed, “sexy 70’s lip balm” into the tank. They shared the common dilemma of friends wanting to borrow lip balm. Their Balm Chicky Balm Balm, lip balm, has a “friend end” that makes sharing easy and safe. The ladies passed out samples and the sharks had a good laugh about the branding.
As they began explaining the details of their company, the sharks started to become concerned when it became apparent that their company had only $17,000 in total sales. They’re lip balm wholesales for $4.50 and retails for $9.50. Lori Greiner didn’t like the product so she dropped out. Robert Herjavec had too many concerns to invest, and also decided to drop out.
The three remaining sharks all dropped out without making an offer. All of the sharks shared similar concerns relating to the fact that the company didn’t have enough sales and had a product in too niche of a market for it to even be worth the investment. Liz and Abby were unsuccessful in scoring a deal, so what became of their company? Keep reading our Balm Chicky Balm Balm update!
Our Balm Chicky Balm Balm update may not be super surprising to anyone who saw the company receive negative feedback on
Are you interested in finding out about the other companies featured on Season 6 Episode 17? Follow the links below for our other company updates from the episode.
For even more on companies and products, be sure to stop by our Season 6 Products Page!