“I like the idea:” When Shark Tank investor Mark Cuban shared his opinion about How to Be A Red Head

On Shark Tank season 15 episode 14, How to Be A Red Head founders Adrienne and Stephanie Vendetti were seeking $350k for 10% of their company. During their pitch, the founders explained they provide a range of products for redheads to make them easily accessible.

Their product range consisted of mascara in shades of red, alongside shampoo, and lipsticks. The founders predicted $1.1 million in sales and made a total of $833,000, a year before. For the past 12 years, their brand was able to generate $4 million in sales with 55% of their customers returning to place more orders.

Shark Tank investor Kevin O'Leary was the first shark to place an offer of $350,000 for 10% equity along with a $2.50 royalty. Mark Cuban was the second shark who offered $350,000 for 15% equity which was accepted by the founders. Cuban said:

"You guys are not a products company you are a lifestyle company and the question is how big you can make the club right. so the real question is how do you build your community? Everything you do should be about community and that's what gets me interested in this. I'm going to make you an offer, I like the idea but I want to make sure we're on the same page."

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Shark Tank investor Mark Cuban placed an offer to How to Be A Red Head founders

The Shark Tank investor expressed interest in wanting to invest in How to Be A Red Head. According to Mark Cuban, this was not just a company selling a product but a community that wasn't identifying as a community itself. Cuban stated that a lot of doors to opportunities could open if the founders focused on building a community rather than going the traditional route for marketing.

Upon hearing this, the founders stated that this was their main goal they even had a podcast for the audience who could relate to similar concerns. Cuban however encouraged Adrienne and Stephanie Vendetti to have more "fun" with their brand.

Shark Tank investor Lori Greiner talked about the packaging. She suggested that the logo should be on the products along with the name of the brand to catch the customer's eye. Greiner decided to back out but gave an important piece of advice to focus on visibility through catchy packaging. She said:

"First of all I love the name How To Be A Red Head I also love that you turned being teased into being profitable I think that's brilliant. I think that there are some things that you need to enhance how to be a redhead is your brand and on your product, you don't see that logo, how to be a redhead should be the majority of this because that's what's going to catch someone's eyes."

Barbara on the other hand was impressed by both the founders and believed they had already cracked the code to be successful entrepreneurs. She said the founders didn't need a shark in this journey, Barbara continued:

"I think you're wonderful entrepreneurs obviously but I don't honestly think you need a shark i couldn't imagine what I'd do for you, you have the whole package so for that reason I'm out."

Toward the end of the episode, Cuban offered $350,000 for 15% equity, which Adrienne and Stephanie Vendetti accepted.