Cutting your own hair is not an easy task. To remedy that, Joshua Esnard created Cut Buddy, a product designed for cutting hair at home. Were the sharks interested in cutting a deal? Let’s get a pitch recap and
Shark Tank Cut Buddy Update
- Entrepreneur: Joshua Esnard
- Business: Hair-cutting tool for at-home use
- Ask: $300,000 for 10% equity
- Result: $300,000 for 20% equity
- Shark: Daymond John
Joshua Esnard brought his product, Cut Buddy to the tank. He designed the product for at-home hair care to ensure an even cut every time. It has three curves and edges to ensure it works for all head shapes and hair types. This product also works for beards, appealing to even those without hair on their head.
NO MORE MISTAKES! Use The Cut Buddy as a guide to reduce errors and mistakes on your beard, haircut, or mustache so you can feel great about how you look EVERY DAY!
Joshua, the owner, is an immigrant from St. Lucia. Growing up, his parents did not let him go to a barber to get his hair cut. Josh didn’t like his dad cutting his hair either, because he couldn’t give him the same cut as other boys his age had.
This is when Joshua started cutting his own hair, which led him to create this product that has sat on the shelf for 15 years. This product was on the first page of his “inventor book.”
He has been in business for just over a year and had sales of $700,000 in 2016 alone. His sales mostly derived from finding Youtube affiliates to showcase Cut Buddy. He then went viral on Facebook.
Joshua is in the
Kevin O’Leary offered $300,000 for 5% equity with a royalty of $1.50 until he received $1,000,000. Mark Cuban went out with no explanation. Robert Herjavec didn’t understand the product, so he dropped out.
Daymond John offered $300,000 for 20% of the company. Lori Greiner went out because he already had two good offers. Joshua countered Daymond with $300,000 for 12.5%. Daymond declined and Joshua took his initial offer.
Now let’s get a Cut Buddy update to see where Joshua and the company are at after
The good news is that the company is still in business. It has been featured in Forbes, GQ, The Today Show, and many other places at the time of this
On its website, Cut Buddy has added several more products to their product line including trimming kits and shaving essentials. You may purchase Cut Buddy in retail stores such as Wal-Mart, Meijer, and Target. Yearly sales for Cut Buddy are around $1.2 million.
We can’t wait to to see where the next Cut Buddy update takes us!
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Andrew Smith is the founder and owner of Shark Tank Recap. He is a longtime Shark Tank fan that has been watching it for years and has seen every episode multiple times. His friends know him as the Shark Tank expert, because he can answer any question about the show! His favorite Shark Tank products are Bertello's pizza oven and Bug Bite Thing!