“HairFin” got featured on Shark Tank USA in 2022 April. It was founded by Tony Litwinowicz.
HairFin Net Worth in 2022
Here is an update on HairFin’s net worth so far.
|HairFin’s Net worth before appearing on Shark Tank||125,000 USD (business valuation)|
|HairFin’s Current Net worth (2022)||50,000 USD|
HairFin’s founder Tony Litwinowicz has a net worth of 35,000 USD as of 2022.
Shark Tank fans have the experience of many crazy Shark Tank products. Those are crazy but useful products for specific occasions. Here’s another such kind of crazy but valuable Shark Tank brand named HairFin. Let’s explore all the facts about that business in this content.
What is HairFin?
In the summer of 2020, Tony debuted HairFin. He cut his own hair with hair clips when he was a kid, but they were only an inch long.
He created a tool that fits between fingers and has a curved, fin-like base that easily cuts through the hair in order to satisfy the demand for longer clips. It enables the hair to be pulled straight for uniform-length haircuts.
Who is the owner of HairFin?
Tony Litwinowicz is the founder and owner of HairFin company. In Shark Tank episode 1320, He asks the Sharks to acquire a part of his HairFin, a tool for measuring hair cuts.
Engineer Litwinowicz retired at the age of 34. He and his wife, who was also an engineer, decided to live modestly and concentrate on saving money to retire early. After leaving Sikorsky in 2016, Tony founded Stoke, LLC as a small startup focused on creating cutting-edge consumer products.
What happened at the Shark Tank?
Tony entered the program to seek 25,000 USD for a 20% stake in the company. He describes the operation of conventional clippers. Then he cuts his own hair on the spot to demonstrate his product. After the Sharks have reviewed their samples, Tony describes his educational background.
He has 12 utility patents on controls for helicopters. He then goes on to describe his early retirement plan. He insists that he still cuts his own hair and lives simply.
He has sold $42,000 since July 2020. They cost him $2 to make, and he sells them for $14.99. He only conducts direct sales to customers on Amazon. Robert admires what Tony has accomplished, but he is done, and it is too small for him.
Tony responds that he’s an “awkward engineer” who doesn’t understand marketing when Mark asks why he hasn’t sold more. To assist him with marketing, he wants a Shark. Mark declares that it is not for him and leaves, followed by Lori.
Kevin retorts that he doesn’t have to cut his own hair and questions why he would risk his savings to launch this business. He believes it is uninvestable, so he is out.
Daymond brags about Cut Buddy’s success and offers $25,000 for 40%. At that offer, all of the Sharks are confused. In response, Tony offers $25,000 for 28%. Daymond increases to 30%. Daymond exits as the other Sharks boo Tony as he continues to counter. Tony and Daymond shake hands after Tony accepts their $25,000 for 30% deal.
HairFin SHARK TANK UPDATE
According to Anthony Litwinowicz, he wanted to keep his company as close to home as possible. As a result, he worked with locals, even selecting Derby, Connecticut-based Empire Tool as his manufacturer.
What happened to HairFin After the Shark Tank?
The best thing is, that salons and professional hairdressers started utilizing the product in their regular operations in addition to the typical consumers. That customer base supports boosting HairFin’s popularity.
The HairFin company is still in business. However, there is no evidence to prove the deal of Shark Daymond was done or not. HairFin net worth is around 50,000 USD in 2022.
Competitors of HairFin
There are so many competitors to HairFin as a cosmetic product company. Along with that, there are a few alternative tools also for the HairFin haircut tool.