The Longhairs Update | Shark Tank Season 9
The Longhairs, a company that creates men’s grooming products, was featured on
Shark Tank The Longhairs Update
- Entrepreneurs: Lindsay Barto and Chris Healy
- Business: Men’s Grooming
- Ask: $95,000 for 10% equity
- Result: $100,000 for 20% equity
- Sharks: Mark Cuban
The Longhairs flagship product was a hair tie for men. There are many different themed hair ties available that are all geared toward men.
Like the Norse crossing the seas to pillage and plunder, you just have to tie your hair up sometimes. They’d have been all over these Viking and Celtic pattern hair ties.
Lindsay Barto and Chris Healy told the sharks that during the first two years in business, their company had generated more than $100,000 in revenue. Most of The Longhairs revenue comes from e-commerce, which includes its own website and Amazon’s marketplace.
A single hair tie costs about $1.60 to manufacture and it was being sold online for $12. The sharks were fairly impressed with the company’s margins but they did have some concerns about the price point of the men’s hair ties.
Kevin O’Leary expressed his interest and offered $95,000 in exchange for 10% equity, but he also wanted a $2 royalty until he was repaid $200,000.
Lori Greiner and Daymond John were not interested and decided to drop out. Mark Cuban offered $100,000 in exchange for 20% equity. After thinking it over, Lindsay and Chris accepted Mark’s offer.
Let’s fast forward from Season 9 to the present day to get a The Longhairs update to see how the company has progressed since appearing on the show.
Our The Longhairs update research found that the deal with Mark Cuban was eventually finalized, and he has been helping Lindsay and Chris grow the business.
The Longhairs is currently projecting about $500,000 in annual sales, about five times higher than the annual sales during
If we get more news on a The Longhairs update, we will be sure to let you know!
You can find the other company updates from Season 9 Episode 16 here:
Don’t forget to take a look at our Season 9 products page! We’ve got more company updates from