What Happened to Cut Buddy After Shark Tank?
What is Cut Buddy?
Cut Buddy is a piece of equipment that allows guys to trim and cut their own beards and hair. It allows you to get a professional barber-style haircut in only a few minutes. It is appropriate for all hair types and may be used with clippers or a razor.
It’s made of plastic and comes with a speed tracer marking pen to help you define the shape, or you can simply run the clippers over it. You’ll obtain the same precise lines and shape every time.
Joshua Esnard, CEO and Inventor, is a St. Lucian immigrant to the United States whose parents emigrated when he was a youngster to further their studies. Joshua has always enjoyed inventing things since he was a youngster.
He served in the United States military for a while. He was working full-time at Broward College and running Cut Buddy as a side business, which he advertised on YouTube.
Joshua now works full-time on all aspects of the business with a few partners since the Cut Buddy went viral and he’s become more successful.
Who is the founder of Cut Buddy?
Joshua Esnard, CEO and Founder, is a St. Lucian immigrant to the United States whose parents emigrated when he was a youngster to further their studies.
Joshua’s father gave him straightforward and simple haircuts when he was a teenager, which inspired the idea for Cut Buddy. Esnard was always a creative youngster, and when he was 13, he started cutting his own hair.
His father’s job was unsatisfactory to him. He grabbed some old plastic folders and made a template. When he used it, he looked better than his friends who went to the barbershop.
At the age of 28, Joshua became “filially challenged,” and he no longer needed to clip his hair as often. At the time, he was still using his own template. He founded the firm in 2016 and began selling the Cut Buddy on Amazon.
When he recruited a popular YouTube to test the device, the video quickly went viral, and the Cut Buddy sold over 4000 copies in a single day. In his first year in business, Esnard sold over 50,000 pieces!
Each Cut Buddy costs $14.95 plus shipping. They work with all types of hair clippers, fiber, detailers, outliners, disposable razors, and straight razors. Each item also comes with a barber pencil for drawing your hair line/design before cutting.
What Happened to Cut Buddy Shark Tank pitch?
In episode 907, Joshua Esnard tries to sell the Sharks on Cut Buddy, his template that allows you to cut your own hair or beard with precise lines. Esnard need the support of a Shark in manufacturing and distribution because of their rapid growth.
Joshua entered the Shark Tank seeking $300,000 for a 10% stake in his business, which was valued at $3 million.
He tells the Sharks about the product and shows it to them. Lori compliments him on his packaging as he hands out samples. He claims that he invented the idea when he was thirteen years old and started the firm when his girlfriend criticized him of never finishing things.
He tells them about the viral video and how Cut Buddy can be found at Sally’s as well as online at Wal-Mart and Target. Daymond was perplexed as to why Joshua needs a Shark. “Mentorship,” he responds.
Kevin then offers $300,000 in exchange for a $1.50 royalty each unit until he collects $1 million in return, plus 5% equity in the firm. After Kevin proposes, Mark walks out, and Robert soon follows.
Daymond then makes a $300,000 offer for a 20% share in the firm. Daymond claimed that he would want 33% stake, while Joshua replied with 12.5% equity.
Lori goes out. After considerable contemplation, Joshua accepts Daymond’s offer of $300,000 for 20% stock in the company and walks away from the presentation with a deal.
What Happened to Cut Buddy After Shark Tank?
The deal with Daymond John was concluded after appearing on Shark Tank and left with a deal, and sales have climbed to well over 100,000 copies.
Andis, a large hair care company, licensed the product. It’s presently available in a number of locations, including Amazon. Joshua said that they plan to expand their retail presence as well.
In 2018, they teamed with Puff Cuff, a hair clamp designed to decrease thick, curly hair. He also launched Truffletopia, which sources the freshest and highest-quality European truffles.
Cut Buddy gets an update segment in episode 1014. According to the most recent reports, he has sold 300,000 units and is now accessible at Wal-Mart and other retail locations.
They also released a “new and improved” version of the product. Due to the closure of hair salons and barber shops as a result of the Covid-19 epidemic, sales soared to over a million units in 2020.
The company is still in business as of January 2022, with annual revenues of $1.5 million.
Esnard stated in January 2022 that the company will be open to “public investment.” It is unclear whose investment vehicle he will use
Cut Buddy’s Competitors
The Cut Buddy has a slew of competitors on the market. Among them are Beard Octane, Verati, Personna, No Gunk, RoseSkinCo, and The Personal Barber.
Cut Buddy’s Net Worth
During the pitch, the firm was valued at $3 million; following Daymond’s investment, the company was valued at $1.5 million. Since then, the firm has continued to operate with an annual revenue of $1.5 million.
Cut Buddy FAQs
What exactly is Cut Buddy?
Cut Buddy is a unique template that assists you in cutting your own hair in absolutely straight lines. All hair clippers, fiber, detailers, outliners, disposable razors, and straight razors are compatible.
When you utilize the Cut Buddy, you can get the beautiful haircuts you’ve always wanted without having to make an appointment or wait in line at a salon.
Who is the creator?
Joshua Esnard, a St. Lucian immigrant to the United States, is the founder of Cut Buddy. When he was 13 years old, he was unsatisfied with his father’s employment and decided to start Cut Buddy.
When was Cut Buddy established?
Cut Buddy was established in 2016; however Joshua Esnard recognized the product’s potential as early as 2012.
How much was seeking on Shark Tank?
Esnard was looking for $300,000 for a 10% stake in the firm, which was worth $3 million.
Did he have the deal?
Yes, he had a deal with Daymond, who paid $300,000 in exchange for a 20% ownership in the firm.
Where can I find Cut Buddy?
Cut Buddy may be found in Tempe, Arizona.
What is Cut Buddy’s revenue?
As of January 2022, Joshua Esnard’s yearly income is $ 1.5 million.
How much does Cut Buddy cost?
Customers may buy a Cut Buddy for $14.95 apiece.
Where can I buy Cut Buddy?
Customers may purchase Cut Buddy at the company’s official website at http://www.thecutbuddy.com/.
What app is being used for this?
Cut Buddy works with all types of hair clippers, fiber, detailers, outliners, disposable razors, and straight razors. It is suitable for both wet and dry cutting.
How many Cut Buddies are sold?
As of January 2022, the firm had sold over 300,000 Cut Buddies through various retailers such as Sally’s Beauty Supply, Wal-Mart, Target, and Amazon.
How does Cut Buddy function?
The device works by the user folding it smaller and smaller until the desired hair size is achieved. They then chopped their hair using that template. The actual cutter blades are introduced into the machine (through a stylus) and then removed as they pass through their hair.
Is Cut Buddy accessible on the Amazon marketplace?
The product is, indeed, available on Amazon.
Can females use the product?
No, because it is solely for guys, it cannot be used by women.
Is Cut Buddy shipping?
Shipping is completely free.
How long does it take for Cut Buddy to be shipped?
Customers’ orders will be delivered within 7–10 business days.
Where can I find Cut Buddy online?
It is available for $14.95 for a two-pack and $29.50 for a three-pack from the official website http://www.thecutbuddy.com/ as well as the Amazon shop.