HairFin is an innovative hair-cutting tool showcased on Season 13, Episode 21 of the television show Shark Tank. As conceived by founder Tony Litwinowicz, HairFin is designed to make hair cutting more precise and convenient.
The tool simplifies hair cutting by allowing the user to measure it accurately before cutting it, providing a perfect haircut every time.
HairFin revolutionizes a typical grooming task by presenting a novel solution that eliminates guesswork, enabling professional hair stylists and casual users to consistently trim hair to the desired length.
The product is available in various sizes, catering to different hair lengths and styles, thus accommodating a broad range of consumer needs. HairFin is known for its simplicity and ease of use.
This tool allows individuals to achieve salon-quality haircuts at home without professional training. This user-friendly approach not only makes haircutting more accessible but also saves time and money by reducing the need for frequent professional salon visits.
Furthermore, HairFin was a compelling enough product to secure a deal on Shark Tank. Business mogul Daymond John saw potential in the product, investing $25,000 for a 30% equity stake.
Following the Shark Tank exposure, HairFin experienced a significant boost in sales, testifying to its popularity and market acceptance. You can purchase HairFin through popular e-commerce platforms like Amazon, Walmart, and its company website.
HairFin is an example of a successful startup from a Shark Tank investment, with an estimated worth of $0.7 million. The HairFin is a practical and smart hair-cutting tool that is a good fit for anyone seeking a quick and efficient way to trim their hair.
|Product / Business||Home haircut measuring tool|
|Investment Asking For||$25,000 for 20% equity in HairFin|
|Final Deal||$25,000 for 30% equity in HairFin|
|HairFin Episode||Season 13, Episode 21|
|HairFin Business Status||In Business|
|HairFin Website||Visit Website|
What Is HairFin?
HairFin is an accessory designed to enhance and transform one’s hairstyle effortlessly. It resembles the shape of a fish’s fin, hence the name “HairFin.” You can use this versatile accessory on straight, curly, or wavy hair, and it’s perfect for any hairstyle.
HairFin is made of different materials, such as metal, plastic, and even fabric, and comes in different colors, sizes, and designs. What sets the HairFin apart from traditional hair accessories such as hairpins or barrettes is its flexibility and ease of use.
It can be inserted seamlessly into the hair, providing a strong yet comfortable grip without additional hair ties or pins. This innovative design helps to prevent hair damage caused by friction and pulling associated with traditional accessories.
Moreover, HairFins allow quick and easy adjustments to different hairstyles, like ponytails, buns, or braids, making them the go-to accessory for an instant style upgrade.
HairFin is the ultimate styling tool, whether one seeks to tame unruly strands or achieve an elegant look for an upcoming occasion.
Who Is The Founder Of HairFin?
HairFin was founded by Anthony Litwinowicz, a computer engineering graduate from Penn State University, in 2004. After completing his education, Litwinowicz began working as a staff engineer at Sikorsky.
Despite having a successful career in engineering, he felt a strong pull towards entrepreneurship and innovation. This led him to establish Stoke Time LLC, with the vision of designing innovative, cost-efficient, and practical products to impact consumers’ lives positively.
The concept of HairFin stemmed from a personal experience of Anthony’s. Growing up, his mother used clippers to cut his hair, a practice he continued into adulthood. However, he found the process challenging as his hair grew longer.
Ordinary hair clippers were limited by guards of about one inch in length, which made it difficult to cut long hair evenly. Freehand-cutting methods were also not ideal due to the risk of uneven cuts.
Recognizing this gap in the market, Anthony conceptualized HairFin as a solution. He developed HairFin as a plastic measuring device designed to enable uniform haircuts.
The tool could be easily gripped between two fingers and featured a fin-like shape at the bottom to glide smoothly through thick hair. The HairFin device facilitated even salon-quality haircuts at home by maintaining a consistent distance from the head.
Before its appearance on Shark Tank, HairFin had already gained positive traction. Committed to keeping his business local, Anthony worked with people from his hometown and selected Empire Tool, based in Derby, Connecticut, as his manufacturer.
HairFin was initially sold in sets of three, consisting of 2, 3, and 4-inch guides for $14.95 per pack, available on their official website, Etsy, and Amazon. Recognizing the need for growth, Anthony expanded the product line to include 5 and 6-inch guides, which were sold in a set of five for $24.95.
His dedication and innovation made HairFin a popular choice among individual consumers and professional hairdressers, setting it on a path toward further success.
How Was The Shark Tank Pitch Of HairFin?
HairFin, created by Tony Litwinowicz, was presented on Season 13 of Shark Tank as a novel tool designed to simplify home haircuts by ensuring a uniform length. The founder sought an investment of $25,000 for a 20% equity stake in his business, valuing HairFin at $80,000.
HairFin’s design was aimed at helping users cut their hair without the need to juggle multiple tools. The tool had an easy-to-use hand-mounting mechanism and has been exclusively available on Amazon since its launch in 2020.
By its Shark Tank appearance, HairFin had generated sales of around $41,000, which was quite an achievement for a small, niche product. However, the Sharks on the panel had varied opinions about the product.
Robert Herjavec was the first to drop out, considering the product too small-scale to warrant an investment.
Mark Cuban and Lori Greiner also declined to invest, stating that the product didn’t resonate with them. Kevin O’Leary appreciated the business concept but didn’t see it as an investment opportunity.
This left Daymond John, who had previously invested in a similar company, and saw the potential for synergy. He initially offered $25,000 in exchange for a 40% equity stake.
Tony counteroffered, asking for $28,000 for a 25% equity stake, which Daymond declined. Eventually, Daymond’s final offer was $25,000 for 30% equity. After some contemplation, Tony accepted this deal.
Following the Shark Tank episode, no major changes were observed in the business. HairFin continued to be sold on Amazon and Etsy but had expanded its range to include sizes from 1 inch to 5 inches, beyond the original three standard options presented on the show.
The business world eagerly awaits to see the impact of Daymond’s investment on HairFin’s future growth and success.
What Happened To HairFin After Shark Tank?
After its successful pitch on Shark Tank, HairFin saw a positive impact on its business. The visibility and endorsement gained from the show significantly boosted the product’s market appeal.
HairFin continues to sell its products through online platforms like Amazon and Etsy. Importantly, HairFin expanded its product range to offer a wider selection of sizes.
Originally, it only offered three standard sizes; however, after the Shark Tank appearance, HairFin introduced sizes ranging from 1 inch to 5 inches.
The partnership with Daymond John, who had previous experience with a similar company, opened up new opportunities for business expansion and market penetration. This strategic alliance is expected to be a key factor in driving the future growth and success of HairFin.
HairFin Shark Tank Update
After appearing on Shark Tank, HairFin, a product designed by Tony Litwinowicz to simplify cutting hair, experienced positive developments in its business. Here is an overview of what happened to HairFin and its business after its appearance on Shark Tank:
HairFin received positive feedback and achieved notable success in terms of sales. Within a few months of its launch, HairFin generated $41,000 in sales. Hairdressers in Derby, Connecticut, started using HairFin with their customers, further validating its usefulness and appeal.
During its appearance on Shark Tank, HairFin garnered interest from sharks Kevin O’Leary and Daymond John. Daymond offered $25,000 for a 40% stake in the company, which Tony countered with a 28% offer. Eventually, they settled on a deal of $25,000 for a 30% investment, with Daymond becoming a partner in HairFin.
Following the show, HairFin continued its operations and expanded its reach. The product introduced new size options, ranging from 1 inch to 5 inches, to cater to different hair-cutting needs.
HairFin remained available on various platforms, including its website, Amazon, and Etsy. These distribution channels provided easy accessibility for customers interested in the product.
As of 2023, HairFin is still in business, demonstrating its longevity and sustainability. Stoke Time LLC, which oversees HairFin, is based in Derby, Connecticut, and has a small team of 1-5 employees. This indicates that HairFin has maintained its operations and is actively serving its customer base.
Regarding financial performance, HairFin’s net worth is reported to be $35,000 as of 2023. Furthermore, the company’s estimated net worth is around $0.7 million. These figures suggest that HairFin has experienced growth and success since its appearance on Shark Tank.
HairFin, after its appearance on Shark Tank, experienced positive feedback, achieved significant sales, and secured a partnership with Daymond John. The company continued its operations, introduced new sizes, and remained available on its Amazon and Etsy website.
Is HairFin Still In Business?
According to our research, HairFin is still in business as of 2023. After appearing on Shark Tank, HairFin, a fin-shaped measuring device designed to simplify hair cutting, has continued operations and achieved positive feedback and sales.
The product is available on various platforms, including the official HairFin website, Amazon, and Etsy. HairFin offers different sizes and has expanded its product line to cater to various hair-cutting needs.
Professional hairdressers and salons utilize HairFin, indicating its continued relevance and adoption within the industry. The estimated net worth of HairFin is $0.7 million.
HairFin is still actively operating, offering its hair-cutting tool through multiple online platforms and serving both consumers and professionals in achieving precise and uniform haircuts.
What Is the Net Worth Of HairFin?
According to our research, the net worth of HairFin is estimated to be $0.7 million. HairFin’s valuation was $83,000 after securing an investment from Daymond John.
Also, read other notable businesses from Season 13 of Shark Tank: