Ever had one of those days when you wake up to messy hair and don’t have the time to style your hair? Don’t worry because the company we’re discussing today is bringing a solution to this problem to the table.
Monique Little and David Dundas arrived on Shark Tank season 14, episode 21, to pitch their unique and distinctive company called You Go Natural. It is a company based on hair accessories like headbands, turbans, buns, and other accessories for textured hair.
They came to the sharks with a deal, asking for a hefty sum of money. Did they manage to convince the sharks that their deal was worth their while or not? Find out in our You Go Natural Shark Tank Update.
You Go Natural Net Worth
Monique and David asked for an investment of $400k in exchange for 5% equity in their company. This meant they valued their company at $8 million. They made a deal with Mark Cuban for $400k as a loan with a $3 royalty on each headband and a $5 royalty on each turban sold until Mark Cuban gets his investment back, along with 10% equity in the company. This new deal valued their company at $4 million. After the show aired, You Go Natural saw a big increase in website traffic, sales, and social media exposure. They also expanded their reach to 316 stores. With an estimated yearly growth rate of 20%, the current net worth of You Go Natural is about $6.91 million.
You Go NaturalShark Tank Update
What Happened to You Go Natural After Shark Tank?
After their appearance in Shark Tank, the company enhanced their line of activewear, which included headbands and turbans with a new technology that dries out sweat quicker for athletes during workouts and sports.
Did You Go Natural Get a Deal On Shark Tank?
Monique and David came to the Shark tank to ask for $400k for 5% of their company. The sharks were very impressed with the quality of their product, but their huge losses made them lose confidence. One by one, each of the sharks opted out of the sibling’s deal until it came down to Mark Cuban. He was not happy with Monique and David’s deal. The two siblings explained to the sharks that they were willing to do royalty deals. In the end, they came to an agreement with Mark for a royalty fee of $3 on one unit of headband and $5 for one unit sold of their turbans.
| Shark(s) Names | Offer and Demand | Counteroffer | Accepted? |
| Kevin O’Leary | Out | N/A | N/A |
| Mark Cuban | $400k for 20% stake | $400k as a loan for 10% equity, a $3 – $5 royalty on each product sold until Mark Cuban gets his investment back. | YES |
| Barbara Corcoran | Out | N/A | N/A |
| Lori Greiner | Out | N/A | N/A |
| Daymond John | Out | N/A | N/A |
Founders Backstory
Monique and David started their business in their mum’s living room with just a sewing machine. Since then they have grown that into a thriving business today operating from a 8000 square-foot facility. Today the business has grown vastly and has a customer base of 70,000 customers.
Initial pitch
Monique and David arrived on Shark Tank to showcase their unique and intuitive business idea and ask the sharks to tag along with them on their journey to success. Their company is aimed at the people who find it very difficult to tame their hair. Sometimes we just don’t feel like washing our hair, that’s where You Go Natural comes in with their line of hair accessories to save the day.
The founders of You Go Natural initially asked the sharks for $400,000 for 5% of their company. The two founders explained that traditionally, head wraps are made from crushed fabrics like cotton and polyester, and learning how to tie them can be a pain. They explained to the sharks that their company makes head wraps from satin-lined material, which is super easy to tie.
Their head wraps feel very luxurious and are hassle-free to tie, unlike other options in the market. They also added that You Go Natural head wraps are not only stylish and easy to use they also protect and promote the health of your hair. They explained that their super soft satin lining not only reduces the friction between your hair and the head wrap but also retains the moisture in your hair.
Queries About The Product
The first question was asked by Mark Cuban, he asked the founders what was the retail on one of their head wraps and how much it cost them to make, Monique replied that each head wrap cost $4-$7 to make and they retail it for $35-$48.
Next, Kevin asked about their sales, to which David replied that, to date, they had sold over 50 million dollars worth of products. He also added that they were a six-year-old company.
According to David in 2020 they did sales worth 2 million dollars, in 2021 their sales were 7 million dollars and as of the ongoing year, they were tracking $10 million in sales.
Kevin inquired about their profit on the sales they did in 2021 to which David replied that last year they made 2 million dollars.
Barbara asked them the reason for raising 2 million dollars to which David replied that they used it to expand their product line and invest in the manufacturing facility.
Moreover, Kevin asked them if they profited from their sales to which Davide replied that last year they did not profit instead they lost 2 million dollars, he added that this year they will be profitable.
When Mark asked them about the reason for the loss, David said that they over-ordered on inventory. He asked them how much cash they had in the inventory to which the entrepreneurs replied that they had just about $100,000 in the bank.
Kevin asked about their customer acquisition cost, which was about 30 dollars. Furthermore, Daymond inquired about their budget for advertisements last year, to which David replied that they spent about 3 million dollars on advertisements last year. Lastly, Kevin asked the founders how many stores they were targeting, and David replied that they would be targeting 316 stores.
Sharks Response & Final Deal
Monique and David came to the Shark tank to ask for $400k for 5% of their company. The sharks were very impressed with the quality of their product, but their huge losses made them lose confidence. One by one, each of the sharks opted out of the sibling’s deal until it came down to Mark Cuban. He was not happy with Monique and David’s deal. The two siblings explained to the sharks that they were willing to do royalty deals. In the end, they came to an agreement with Mark for a royalty fee of $3 on one unit of headband and $5 for one unit sold of their turbans.
Product availability
You GO Natural’s product line is primarily available online, but after the Shark Tank, they are set to expand their reach to 316 target stores. Their product line includes head wraps, turbans, and headbands of the best quality.
Conclusion
The sharks were very impressed with the quality of their products. Their main area of concern was the losses the company faced, and one by one, each one of the sharks opted out of their deal. Until it all came down to Mark, he made this very clear from the start that if the founder wanted to strike a deal with him, it would be on his terms. Mark gave them an offer of $400,000 for 20% of their company.
Monique and David made a counteroffer of $400,000 for 12% of the company. The siblings explained that they were open to doing some kind of debt deal with all of the sharks with some kind of royalty. In the end, they came to an agreement with Mark for $400,000 as a loan for 3 dollars on one headband and 5 dollars for one head wrap until the loan was paid off, along with 10% equity in the company.
Hi, I’m Izza Habib, a Nutritionist and an avid writer. My focus? Crafting captivating blogs and articles on the exhilarating episodes of Shark Tank. I love unraveling the unique stories of aspiring individuals navigating the high-stakes world of Shark Tank— from groundbreaking products to pitch-perfect presentations. As a blogger, I’m committed to sharing the excitement behind each episode, highlighting the ingenuity, passion, and strategic negotiations that shape the entrepreneurial landscape. Join me on this thrilling journey into the dynamic world of Shark Tank! Read more About me.