The Cut Buddy – Shark Tank Deal with Daymond John

Cut Buddy Shark Tank Pitch

The Cut Buddy is a curved multi-edge hair cutting tool to keep your edges for the perfect look.  Joshua said people will stop you on the street and ask who cut your hair?

Joshua came from St Lucia and developed the package himself. He claims if you know anything about old school immigrants you are getting one type of hair cut. He created his own cutting tool so that he did not have the generic hair cut.

Joshua’s girlfriend drove him to invent the Cut Buddy. He has two patents, and his girlfriend is now his Fiancé.

His sales for 2016 are $700,000. He leveraged YouTube affiliates to create the sales channel. He sales at $14.95, wholesales at $8.95 and cost is $2.

Eighty percent of the Cut Buddy sales are direct to consumer.

Cut Buddy Episode Data

• Company: Cut Buddy – Website
• Entrepreneur: Joshua Esnard
• Ask: $300,000 for 10% equity
  
• Episode Season 9 Episode 911
• Companies in this episode:
  • Reely Hooked Fish Co.
  • Prontobev
  • Slumberkins
  • Cut Buddy
  • Scrub Daddy – Featured Update
• Sharks:
  • Mark Cuban
  • Daymond John
  • Kevin O’Leary
  • Lori Greiner
  • Robert Herjavec
• First Aired: 11/12/2017
• Deal: Deal Daymond John $300,000 for 20%

What do the Shark Tank Investors say about Cut Buddy

• Mark Cuban – tells him he is out after saying congratulations.
• Daymond John – wants to know why he needs the money in exchange for a mentor. He doesn’t want to place a burden on him, but if he can bring something to the table, he is interested.  Daymond makes him an offer of $300,000 for 20% equity, knowing that he would normally say 33.3 percent. Joshua counters at 12.5% and Daymond tells him he likes that about him, but he stays firm at his offer.
• Kevin O’Leary – offers $300,000 for a 5% stake plus a royalty of $1.50 per unit until $1 million is paid back, and he will grow his hair back!
• Lori Greiner – says he has two good offers on the table so she is out.
• Robert Herjavec – worries that it is so self-evident that he is wanting to go into retail when he is selling online.  He is out.

Cut Buddy after Shark Tank

According to all accounts, Daymond John and Joshua sealed the deal on Cut Buddy!