What Happened to You Smell Soap After Shark Tank?
What is You Smell Soap?
You Smell Soap are a high-end soap manufacturer that solely employs organic ingredients. The first two fragrances added to the soap were Lemon Verbena and Lavender Mint, both of which were self-indulgent and vitamin-infused. They also come with a paper wipe in case you need to freshen up on the road.
Megan Cummings, the creator of You Smell soap, graduated from Savannah College of Art and Design with a B.F.A in graphic design.
She held a couple design jobs before founding her own design firm and You Smell in 2011. You Smell continued to operate for another 3.5 years.
Megan currently works for animal shelters through her company and a side project she founded called Downloads That Donate.
Who is the man behind You Smell Soap?
Megan Cummings founded the firm. She earned a B.F.A. in graphic design from Savannah College of Art and Design.
She worked at a few design jobs before starting her own design agency and launched You Smell in 2011. You Smell stayed in business for another 3.5 years.
Megan currently works for animal shelters through her company and a side project she founded called Downloads That Donate.
You Smell Soap began as a college class project in innovative packaging and presentation. Cummings grew her invention from humble beginnings to a premium item that she believes would sell well if she can obtain a Shark contract to provide the finances and contacts she wants.
She and her fiancé both have full-time jobs and are striving to support the firm. Cummings is now working as a graphic designer, but she hopes to leave soon to pursue her passion for soap operas full-time.
What Happened to You Smell Soap During The Shark Tank Pitch?
Cummings elected to pitch her idea on Shark Tank in exchange for a partnership and help expand the company.
Cummings entered the Shark Tank looking for a $55,000 investment in return for a 20% equity stake in her business, which worth $275,000.
She gives everyone samples of her first two scents; lemon and lavender mint, and informs them that her company is a “pre-venture,” which means she has no sales data yet.
Cummings purchased 1,200 bars to test the market and distributed them to a number of stores, where they sold for $7 to $12 each bar.
Several stores, including Urban Outfitters, have placed reorders. Her brand looks to have a large market presence if her product meets the Shark criteria.
Cummings also sells dissolvable paper loaded with soap, which provides customers with an impulse-buy sample at the register. Not only will the creative companion product provide high sales margins, but it will also help boost brand recognition. The Sharks have been pulled in.
Daymond John admits that he “had to respect the perseverance,” but he does not want to work in the sector, therefore he went out.
Kevin O’Leary admires Cummings and wants her well, but he feels the risk is too great without directions. He also went out.
Mark Cuban wants to see if Cummings has the endurance to carry the project through to completion. She claims to be the “most persistent” individual and that she will secure the product’s success. Mark Cuban offers $55,000 for a 20% ownership in the firm.
Barbara Corcoran intervenes before Cummings can respond with her own offer. She believes that Cummings is not asking for enough and that she will want further funding in the future. Barbara Corcoran offers $55,000 in exchange for a 40% ownership in the firm and a 10 cent royalty on each bar sold.
Robert Herjavec smells a blood odor in the water. He makes a third offer of $55,000 for 20% stock and an additional $50,000 income so she may spend more time to the enterprise.
Barbara Corcoran lowers her offer to $55,000 for 30% ownership. Cummings finally accepts Robert Herjavec’s offer and walks away from the pitch with a Shark deal.
What Happened to You Smell Soap After Shark Tank?
Cummings never received the money, despite the fact that the deal was made on the air. Herjavec made a second offer for half of the company, but Cummings rejected.
The botched deal prompted a media firestorm against Herjavec. He responded with a statement regarding the due diligence procedure, but the justification looks weak in light of Cummings’ on-camera claims about being a pre-venture business.
Despite the failed deal, she continued to grow her business. Cummings and her fiancé both started working full-time for the You Smell Company.
The product was readily accessible on Amazon for a while; however the website is no longer operating. Megan sold the firm in 2014 to an anonymous investor for an undisclosed fee.
The company went out of business in 2016. Megan launched Sparkle Pop, a fashion jewelry company, in 2014, and it has been a success for several years. She closed it down in 2019.
In 2017, she launched Downloads that Donate, an Easy store that donates a portion of its earnings to no-kill animal shelters. She also owns and runs Megan Cummings Designs, a contract design firm she has run since 2007.
You Smell Soap’s Net Worth
The firm was valued at $275,000 during the pitch, but since then, it has sold items, which may cause the company’s net worth might have been higher than that of pitch.
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You Smell Soap FAQs
What is the price range of your soap?
Soaps start at $7, and they are available in different scents. They are also available in a package of three.
How many stores do you sell your products?
You Smell Soap have been distributed to over 50 stores, including Urban Outfitters and World Market, as well as 15 gifting and lifestyle websites such as Zippos and Nest. You Smell Soap are available on Amazon and ETSY, where bulk orders are made.
What is the length of the product?
Soaps are roughly 3 inches in length and 6 inches in width.
What do you sell and how do you promote it?
You Smell Soap sell its products online only. It informs customers that they can contact them with any questions or concerns. They also provide prices and a description of each scent on their website.
What is the address of your shop?
You Smell Soap is located in Los Angeles, California. The firm sells its products online only and does not streamline them in a store.
How do you market your products?
You Smell Soap targets a specific group of people that it believes will appreciate their product. They also let their customers know what stores are carrying their merchandise by updating them on their website and social media accounts such as Facebook and Twitter.
How do you distribute your product?
You Smell Soap are distributed through e-commerce on a variety of platforms. Soaps are available for purchase on Amazon, Zippos, and other gift sites. They also have “Soap Stands” available on eBay .
Who owns the company?
You Smell Soap are a sole proprietorship made up of the founder, Megan Cummings, and her fiancé. They work full-time for it and produce all the products sold by the company.
How did you come up with the idea for this company?
You Smell Soap was an idea created by Megan Cummings and her fiancé. They wanted to make a soap that not only cleans you but also leaves you smelling great as well.
Megan wanted to honor her mother, who passed away from breast cancer, by making a product that would benefit breast cancer awareness.
What is the incentive behind such a hard and long work?
Soaps are created with natural ingredients that affect the skin in different ways. Some leave the feeling refreshed while others leave the smelling great. Soaps are more like an accessory that’s meant to be used with a scent.
