Hammer & Nails Update | Shark Tank Season 6

With the hopes of expanding his men’s grooming salons across North America and the rest of the world, Michael Elliot came onto Shark Tank Season 6 with the hopes of securing a $200,000 dollar investment from any of the sharks. In exchange for the potential investment, Michael told the sharks that he would be selling 20% equity in his company. Let’s see how the company pitch went before we get a Hammer & Nails update.

Shark Tank Hammer & Nails Update

• Entrepreneurs: Michael Elliot
• Business: Men’s Grooming
• Ask: $200,000 for 20% equity
• Result:  No Deal
• Sharks:  None

At the time of the pitch on Shark Tank, Michael admitted that his company had only been in business for about seven months. During that time, his company had reached a total amount of sales in excess of $150,000 dollars and expects to reach another $100,000 by the end of the calendar year. 

A variety of services are available at these locations. General pricing for any of the services ranges from as low as $30 up to more than $100, depending on the exact type of service.  While the sharks were impressed with the idea, they still seemed skeptical as to whether or not the company was worth an investment. 

Michael told the sharks that his ultimate vision was to franchise his business and expand that way. Mark Cuban immediately took issue with this vision and respectively disagreed.  Mark would be the first shark to drop out.  Lori Greiner had too many concerns and didn’t know whether she would ever make her money back, so she also dropped out without making an offer.

The remaining sharks were simply not convinced enough by the company’s pitch to make an offer. Robert Herjavec, Kevin O’Leary, and Daymond John all decided to drop out without making an offer, forcing Hammer & Nails to leave Shark Tank without a deal.

Now that we know how the company’s pitch went, let’s get a Hammer & Nails update to see whether the company has managed to be a success. The company has managed to remain in business and has several locations around North America. Several California-based locations have been added and the company continues to post updates on its official website.  

While Michael did not make a deal with the sharks, his future looks bright!  We look forward to seeing what the next Hammer & Nails update will have in store.

For more updates on companies from Shark Tank Season 6 Episode 1, be sure to check the links below:

• Sleeping Baby Update
• Amber Update
• Bombas Update

Additionally, don’t forget to check out our Season 6 products page too!