Whatever Happened To HairFin After Shark Tank?
There are rules everyone has to follow on "Shark Tank," but sometimes it's the entrepreneurs who think outside of the box that succeed. Tony Litwinowicz certainly fit that description when he appeared on "Shark Tank" Season 13, Episode 20, looking to sell his innovative HairFin product — the perfect piece of equipment for homebody hairstylists. Viewers will fondly recall images of the DIY entrepreneur wearing tin hats and telling stories about his mom cutting his hair as well as the high-stakes negotiation process between him and one of the judges. It was an unusual pitch, but did it lead to long-term success?
Litwinowicz's goal was to create a product that made self-hairstyling feel easy and convenient. HairFin is essentially a measurement tool that looks like a comb and allows users to clip their hair without having to juggle multiple instruments at the same time. It's simple and easy to use, making it ideal for folks who want a quick and efficient trim. However, despite impressing all of the sharks with his witty presentation, Litwinowicz's product was too niche to convince most of them to invest.
Fortunately, he was saved by Daymond John, who saw enough potential in HairFin to part with some of his hard-earned cheddar and buy in. With that in mind, let's find out what happened to HairFin after "Shark Tank."
What happened to HairFin on Shark Tank?
Tony Litwinowicz pitches the HairFin product as both a passion project and smart business opportunity. Being a shrewd saver allowed the inventor to retire early and focus his time and energy on ventures he believed in. HairFin was born from this mindset, with Litwinowicz claiming that his cheap lifestyle inspired him to create a tool that would allow people to cut their hair at home without any trouble. Furthermore, he notes that he made $41,000 in sales from HairFin before pitching the product on "Shark Tank," adding that they cost $2 to make and are sold for $14.
The judges are unanimously impressed with the FinHair founder's ambition and business acumen, but the majority reject his proposal because they believe the product is too niche. However, Daymond John offers the entrepreneur $25,000 in exchange for 40% equity, which was much more than the 20% stake Litwinowicz initially suggested. In the end, they settle on 30% after John threatens to withdraw his offer.
The standoff was pretty intense, but the outcome is better than nothing, right? The good news is that HairFin doesn't appear to have been a failed experiment, as it's still available to buy.
HairFin is still in business
Tony Litwinowicz would be the first person to tell you that he likes to keep a low profile. During his pitch on "Shark Tank" Season 13, he revealed that he's hopeless when it comes to promoting his product, which is why he needed investors to help him out. The self-proclaimed DIY hairstylist is barely active on social media, and he doesn't do many interviews, so one could be forgiven for thinking he disappeared off the face of the earth in the wake of "Shark Tank." But have no fear — HairFin is still around.
While he hasn't reported any numbers pertaining to the company's growth or sales since "Shark Tank," HairFin is currently available to buy on both Amazon and the brand's official website. The company also has an Etsy store, but it's temporarily closed at the time of this writing. The product is also available in multiple sizes, meaning that it can cater to all kinds of hairstyles.
HairFin might not rank among the most successful "Shark Tank" products, but it certainly isn't one of the show's biggest horror stories, either. But what does the future hold for the innovative tool?
What's next for HairFin?
As previously mentioned, Tony Litwinowicz has mostly kept to himself since appearing on "Shark Tank," so his future plans are unclear. However, the website for his company, Stoke Time, states that he's working with American small businesses to ensure that HairFin remains on the market, and the fact it's still available to buy indicates that the business is operational and will probably continue.
Furthermore, it wouldn't be surprising if the inventor creates more products down the line. His stated ambition with Stoke Time is to engineer practical and forward-thinking products like the one he sold on "Shark Tank," but he hasn't announced anything new yet. For the time being, HairFin still looks like it's his priority venture, despite his apparent reluctance to heavily promote it. The inventor occasionally showcases his product on the HairFin YouTube channel, but it's been a while since he uploaded a new video. Overall, it seems that he plans on keeping HairFin alive for the foreseeable future, and the fact he was already comfortably retired before he sold his nifty gadget suggests that he wants to take it easy.
To learn more about the hit reality series, check out these things you might not know about "Shark Tank."