Steph and Paul McCleary, the founders of Muse For Hair, have set out to revolutionize the hair extension market. Their semi-permanent DIY kits make it easy to achieve salon-quality results without leaving home.
As Paul said, “We’ve disrupted an entire industry. No biggies.” These extensions last for up to a month. They can be easily reapplied, offering both convenience and affordability.
The product has resonated with customers. It has resulted in over $750,000 in sales during the first year and a social media following of 50,000.
With a customer return rate of 50%, Muse For Hair is proving its value. Backed by Shark Tank investors and glowing reviews, the company is poised to lead a new wave in the beauty industry.
“Hair today, their business flies tomorrow,” as one Shark aptly described it.
Muse For Hair Journey Before Shark Tank
Steph and Paul saw a clear problem in the market. Traditional hair extensions required costly salon visits, often exceeding $2,000.
They wanted to create a solution that delivered the same quality at a more accessible price.
Their answer? A semi-permanent hair extension kit that costs just $526 and can be applied at home.
“It lasts in your hair for a month, and then you just take it out and reapply it yourself,” explained Steph. The product’s affordability and ease of use made it an instant hit.
It led to $750,000 in sales within a year. However, success brought challenges. Copycats quickly emerged, but the McClearys stayed ahead by employing smart marketing tactics.
As Paul shared, “We’ve watched the new player’s every move and made some cunning Google plays to cut into their traffic.”
The kits also offered substantial savings for customers. They helped users save over $900 annually compared to salon visits.
These features, combined with a focus on customer satisfaction, laid a strong foundation for Muse For Hair’s growth.
Shark Tank Pitch Recap
When Steph and Paul entered the Shark Tank, they delivered a confident pitch that showcased their product’s quality and potential.
They demonstrated how easy the extensions were to apply. This left the Sharks visibly impressed.
As Steph highlighted, “It’s taking off, with over 50,000 followers on social media and already $750,000 worth of extensions sold in less than a year!”
The financials and the product’s market fit sparked a heated bidding war among the Sharks. Jane Lu, founder of Showpo, praised the concept. However, she voiced concerns about copycats.
Steph quickly addressed this, saying, “Of course, there are copycats, and they’re just around the corner.” Davie Fogarty stepped in with a bold offer of $200,000 for 20% equity.
He drew on his experience battling copycats with his Oodie brand. Jane countered with $175,000 for 30%, while Maxine Horne matched Davie’s offer.
The pitch reached its climax when Paul announced, “We had only one Shark in mind when we entered the room, and it was Davie.”
The couple ultimately accepted Davie’s offer, with Rob Herjavec joining as a co-investor. The room erupted in applause as Muse For Hair secured its future.
Muse For Hair Shark Tank Update
After appearing on Shark Tank, Muse For Hair saw immediate results. Sales spiked, and their social media presence expanded.
Thousands of new followers joined their growing community. Customer feedback was overwhelmingly positive. An impressive 92% of users found the installation process simple and convenient.
Additionally, 98% reported saving over $900 annually by switching to Muse For Hair. Meanwhile, 96% appreciated the flexibility to remove and readjust their extensions.
The Shark Tank exposure solidified Muse For Hair’s reputation as a leader in the DIY hair extension market.
Future Plans
Muse For Hair has ambitious plans for growth. The company is working on expanding its product line to accommodate different hair types and textures.
They are also eyeing international markets. The United States, already their second-largest customer base, is a key target.
“The United States is our second-biggest customer. Showpo sells more in this space than Australia,”
Steph
To meet rising demand, Muse For Hair plans to streamline production. They are also exploring partnerships with e-commerce platforms and beauty influencers.
These strategies aim to bring their innovative product to even more customers worldwide.
Closing Remarks
The success of Muse For Hair is a testament to Steph and Paul’s determination and vision.
Stay tuned for their next chapter as they continue to disrupt the beauty industry.