Rip Tie Hair Shark Tank Update – Shark Tank Season 17
Sarah Fox brought Rip Tie Hair to Shark Tank in Season 17. But does this simple hair tie really prevent tangles for swimmers, surfers, and athletes?
Sarah Fox, an entrepreneur from San Diego, California, entered Shark Tank Season 17 to pitch Rip Tie Hair. This hair accessory is designed to keep long hair neat during activities.
Long hair often gets tangled after swimming, working out, or surfing. Brushing it out can take time and effort, especially for people who spend a lot of time in the water.
Sarah asked the Sharks for an investment of $250,000 for 10% equity in her company. The big question was whether the Sharks would see this as a smart solution or just another hair tie.
About Rip Tie Hair
| Category | Details |
|---|---|
| Business Name | Rip Tie Hair |
| Founder | Sarah Fox |
| Industry | Hair Accessories |
| Product | Activity hair tie designed to prevent tangles |
| Funding (Pre-Shark Tank) | Self-funded |
| Investment Asked | $250,000 for 10% equity |
| Deal Status | Deal secured with Lori Greiner & Allison Ellsworth |
| Deal Outcome | $250,000 for 20% equity |
| Valuation | $2.5 Million |
Sarah Fox worked at a scuba diving shop in Guam. Because she spent hours in the ocean, her long hair often became tangled, which inspired her to search for a better solution. She began to experiment with different hair ties and ways to keep her hair straight while she was active.
Soon, she came up with the first version of Rip Tie Hair.
At first, Sarah grew the business online. Instead of ads, she joined Facebook groups for divers and surfers. Many women in these groups asked how to manage long hair when swimming.
Sarah replied to those posts and suggested her hair ties. Each reply brought a few orders. Over time, word of mouth helped the product grow.
Rip Tie Hair is not a normal hair tie. It holds the base of a ponytail and wraps around the length of the hair.
Most versions retail for about $12.95. During the pitch, Sarah revealed that the product has about 92% gross margins.
Rip Tie Hair Shark Tank Pitch
Sarah Fox started her pitch wearing a large, tangled wig. She joked that she had finished surfing and had no time to fix her salty hair.
“This rat’s nest will probably take hours to brush out,” she said.
Then she removed the wig and introduced Rip Tie Hair. She showed how the tie wraps around a ponytail and keeps hair neat.
The Sharks reacted with curiosity and jokes. Kevin O’Leary liked the presentation but wondered if the product had strong protection. Lori Greiner focused on the sales numbers. Robert Herjavec joked about making money from what looked like a simple string.
The demo soon turned funny. Kevin O’Leary put on a wig while Lori Greiner tested the product on him. Robert Herjavec tried it on a mannequin and said it was easy to use. Daymond John tried it too, but struggled, which made everyone laugh.
After the laughs, the Sharks asked about the business.
Sarah said the company made $2.7 million in total sales over the previous four years. This year (at the time of filming), the company expects $3.5 million in revenue.
She said much of the budget goes to marketing.
What Makes Rip Tie Hair Unique?
Several factors set Rip Tie Hair apart in the hair accessory market. Here are a few that make the product unique:
- Braided wrap keeps hair aligned and smooth.
- Designed for swimmers, surfers, runners, and athletes.
- Strong potential for profitability.
Did Rip Tie Hair Get a Deal on Shark Tank?
Yes. Sarah secured a deal after strong negotiations. She went to the Shark Tank to ask for $250,000 in exchange for 10% equity in the business.
Kevin O’Leary was the first Shark to show interest. But he had doubts about the value and the weak protection. He wanted a 25% share for $250,000. Then he dropped the offer to 15%.
Lori Greiner thought the product could do well in the beauty and accessory market. She joined Allison Ellsworth. They both offered $250,000 for 20% equity in the company.
Daymond John was worried about the finances and didn’t invest. Robert Herjavec also went out, saying the margins and marketing costs did not match the numbers.
Sarah looked over the offers. She agreed to the deal with Lori Greiner and Allison Ellsworth.
Sarah ultimately accepted $250,000 for 20% equity from Lori Greiner and Allison Ellsworth.
Rip Tie Hair Shark Tank Update
Before going on the show, Rip Tie Hair had already made $2.7 million in total revenue.
With help from Lori Greiner and Allison Ellsworth, the company plans to grow online sales, launch new versions, and look for more retail opportunities.
Where Can You Buy It?
Rip Tie Hair is available on the company’s website and on Amazon. Customers can choose from various colors, styles, and lengths for different hair types.
Follow their Instagram and Facebook for more updates.
Quick Summary
- Sarah Fox pitched Rip Tie Hair on Shark Tank Season 17, asking for $250,000 for 10% equity.
- The product helps keep long hair neat and reduces tangles during activities like swimming and running.
- Lori Greiner and Allison Ellsworth invested $250,000 for 20% equity.
Read other Shark Tank Season 17 Episodes.
If you love reading about Shark Tank businesses, you may also check out other companies featured in the same episode. Check out their business updates:
