The parents of Stefan and Cora Miller wanted to support their son in taking care of his natural hair. However, they were unable to discover the proper products for young boys whose hair was naturally curly. It dawned on them then that perhaps other parents were experiencing the same issue.
Thus Young King Hair Care was established. This company specializes in offering young men of color natural hair care products. The Millers requested $225,000 in exchange for 2.5 percent of their business during their appearance on Shark Tank Season 13. They desired the sharks’ assistance in expanding their company and obtaining more retail space for their goods.
Despite not getting the deal they were hoping for. The company is still expanding and doing well in large retail establishments like Target and Walmart. Will the entrepreneur get a deal on Shark Tank? Check out our Young King Hair Care update to find out!
Young King Hair Care net Worth 2024
Stefan and Cora Miller asked for a $225k investment in exchange for 2.5% equity in their company, Young King Hair Care. This meant they valued their company at $9 million. Despite not securing a deal on the show, they continue to thrive and expand their presence in major retail stores. After the show aired, Young King Hair Care saw a big increase in website traffic, sales, and social media exposure. With an estimated 10% yearly growth rate (typical business growth), the current net worth of Young King Hair Care in 2024 is about $11 million.
Young King Hair Care Shark Tank Update
In terms of a Young King Hair Care update, Young King Hair Care expanded even after the Shark Tank show. The business is still doing well in 2024. Their items are currently offered at more than 1500 Target and Walmart shops as a result of their increased retail presence. Through their website, they also offer their products for sale online. Furthermore, in 2023 Cora Miller joined the Target Accelerators Founders in Residence program.
Through this program novice company owners can pick up tips from seasoned business people. The Millers may have continued without a Shark Tank deal. They persevered in their hard effort. Numerous families adore their products, and their brand continues to support young boys of color in taking care of their natural hair.
For 2.5% of their company, Stefan and Cora requested $225,000. They wanted the sharks to aid in their growth and development. They ultimately decided not to strike a deal though. Kevin O’Leary made a $225,000 offer. But only if a royalty agreement was reached. In order to recover his $225,000 investment. He aimed to make $1 for each unit sold. He then demanded 50 cents for each unit sold after that.
However, the Millers were not fond of the notion of permanently giving up a portion of their revenue. Robert Herjavec later offered a royalty as well although on different conditions. Ultimately Stefan and Cora made the decision to leave without making a deal.
| Shark(s) name | Offer & Demand | Counteroffer | Accepted? |
| Daymond John | Out | N/A | N/A |
| Lori Greiner | Out | N/A | N/A |
| Kevin O’Leary | $225,000 for a $1/unit royalty until $225,000 is paid back, then $0.50/unit in perpetuity | N/A | N/A |
| Robert Herjavec | $225k for a 5% stake + a royalty of 50 cents per unit until $450k is paid | N/A | N/A |
| Mark Cuban | Out | N/A | N/A |
Young King Hair Care Pitch
In our Young King Hair Care update research, Young King Hair Care was founded by Stefan and Cora Miller in order to provide their kid with the proper hair care products for his natural curls. They saw that there weren’t many items available for young boys but many for women with natural hair. They were motivated to make something fresh by this.
Their objective was to create a brand that catered to boys of color with curly hair, empowering them to embrace their inherent beauty. However, launching a firm wasn’t simple. They had a lot of difficulties in the beginning, such as poor sales and trouble getting their products into stores. Building their brand from the ground up required a lot of work on their part.
Stefan and Cora told their story in their Shark Tank pitch. They described their desire to support young guys who have natural hair in feeling confident about their curls. They demonstrated to the sharks their assortment of natural ingredient-based shampoos, conditioners, and styling lotions.
The Millers had faith in their line of goods and business plan. The sharks were impressed since their sales had surpassed $1.54 million. Nevertheless, the business was not yet profitable despite the strong sales. The Millers had high hopes that the sharks would recognize the potential of their brand and assist in further expansion.
The sharks asked a lot of questions and showed curiosity about the goods. They were interested in learning about the product ingredients and the Millers’ plans for business expansion. They questioned their future goals and profit margins as well. The Millers disclosed that all-natural and kind to young boys hair their products are.
They thought that by concentrating on men of color their brand could close a gap in the market. Some of the sharks expressed concern about the company’s current lack of earnings despite their liking for the notion. They had doubts about the Millers’ ability to convert the strong sales into real profitability.
In regard to a Young King Hair Care update, The way that the sharks reacted to the Millers’ pitch varied. It was Lori Greiner who first declined. She was uninterested because she thought there was too much competition in the hair care product sector. Daymond John liked the goods but thought he couldn’t do enough to help them. Even though the company was still small Mark Cuban believed it was being presented as a large corporation.
He also made the decision not to make an offer as a result. Although Robert Herjavec believed it wasn’t a suitable fit for him he thought the product was good. The Millers refused to pay a royalty for all time even when Kevin O’Leary finally made an offer to do so. They considered both offers and decided not to proceed with the deal. So they left.
What Went Wrong With The Young King Hair Care On Shark Tank?
Despite Young King Hair Care’s strong sales, the sharks turned them down for a few reasons. First, the company wasn’t producing a profit yet which made the sharks apprehensive. They had no desire to put money into a company that would take a while to turn a profit.
Subsequently, the sharks believed the Millers were overpriced for a mere 2.5 percent stake in the business. It seemed excessively high because of this. Finally, the sharks took issue with the company’s relatively small size despite its marketing portrayal as a much larger enterprise. The majority of the sharks passed on the offer because of these concerns.
Product Availability
Boys with curly hair can choose from a wide variety of products from Young King Hair Care. They have styling products, leave-in conditioner, shampoo, and conditioner in their portfolio. Their entire product line is safe for small children and manufactured with natural components. These products are made to maintain healthy hair while detangling and moisturizing natural curls.
Families can purchase their products online at Young King Hair Care as well as in large retailers like Target and Walmart. There are many great comments from satisfied clients and the pricing is fair. The brand has more than 36,000 Instagram followers as it keeps expanding its online presence.
Conclusion
In search of a deal Young King Hair Care visited Shark Tank but they walked away empty-handed. Despite not receiving the desired investment, the business has been expanding and thriving. They have a robust web presence and their items are currently available in over 1500 Target and Walmart shops.
Moreover, Cora Miller is assisting other entrepreneurs by distributing her expertise via the Target Accelerators Founders in Residence initiative. The Millers have demonstrated that success can be achieved without a shark deal by working hard and having a quality product. As they develop and support young guys in embracing their natural hair. It will be interesting to watch what Young King Hair Care does next.
Hi, I’m Laiba Khurram, a BBA student specializing in Marketing at FAST NUCES ISB. My background includes experience in finance, marketing, and event coordination. My skills include teamwork, time management, and Microsoft tools. Watching Shark Tank has always inspired me, as I admire the innovative pitches and entrepreneurial spirit showcased on the show. This passion drives my approach to finding creative solutions and understanding market dynamics. Read more About me.
