Tuesday, February 27, 2024

Hairfin 2024 Update – What Happened After Shark Tank

Hairfin Before Shark Tank

Hairfin was founded in 2020 by an entrepreneur by the name of Tony Litwinowicz. Before creating the Hairfin, Tony attended Penn State University to gain his Bachelor’s Degree in Computer Engineering. Following his graduation from Penn State, he went on to work at Sikorsky, a Staff Engineer job, where he remained until May 2016. It was during his time at Sikorsky that Tony found that he would rather spend his time creating innovative products. Products that would make consumer’s lives much easier and care-free. After leaving Sikorsky in May 2016, Tony started his journey on creating these innovative products of his own. However, his first step was to establish his business; Stoke Time LLC.
In 2020, Tony created his innovative product known as the Hairfin as a means of making haircuts more simple. Tony had remembered that, as a child, his mother would trim his hair with clippers; however, when he started trimming his hair himself, he realized that difficult it was with longer hair. Since Tony had long hair, using scissors to cut his hair was an even more difficult option. This led him to start brainstorming products that could be used to make cutting hair precise, yet easy. After some planning, Hairfin became that product.
Hairfin is a fin-shaped measuring device that makes independently cutting hair a breeze. The way it works is the Hairfin sits between one’s index finger and middle finger, with the end of the fin facing their finger tips. This product works as a three-in-one tool allowing consumers to measure the hair, hold the hair steadily in place, and cut the hair straight across all at once.
Shortly after launching Hairfin, Tony established that he’d rather keep the Hairfin business in Derby, Connecticut. He began introducing the product to people within his hometown and, not before long, Hairfin started receiving positive feedback. Hairfin Picture 2
In fact, the business had reached $41,000 in sales in just months and hairdressers in Derby, Connecticut even started using the Hairfin with their daily customers. While Hairfin is available on the company’s website, it can also be found on Amazon and Etsy. Considering Tony has accomplished this much in just a few months since launching, he isn’t doing too bad for his small business; however, he would, like a sharks help with marketing and inventory. Can Tony get an offer?

Hairfin on Shark Tank

On April 15, 2022, Tony Litwinowicz appeared on Shark Tank seeking $25,000 for a 20% investment in Hairfin. During his pitch, Tony introduces the product and tells the sharks about how clippers work versus how the Hairfin works. He demonstrates this to the sharks by cutting his own hair using the Hairfin tool. Following his demonstration, Tony continues on to explain to the sharks about his education, early retirement plan, and how he continues to independently cut his hair. During this time, the sharks listen patiently while checking out the Hairfin designs themselves.
Tony mentions to the sharks that most consumers use regular hair clippers to cut their hair; however, while this method is effective for shorter hairstyles, it doesn’t quite work on longer hairstyles. He explains how measuring hair while cutting with multiple hair tools can be difficult for many consumers and goes on to show that the Hairfin tool does all of that for them. As far as the sales aspect goes, Tony tells the sharks that each Hairfin only costs $2 to make and that they sell for $14.99 each. At this point, Hairfin has made $42,000 in sales.
Hairfin Picture 3 The first shark to speak up about the product was Robert. He loves the idea and how successful Tony has been thus far; however, the business is too small for him to invest, so he goes out. Next up, Mark questions why more Hairfin’s have not been sold yet; Tony responds, saying that he isn’t good with the marketing aspect of the company, hence why he wants a sharks help. Mark must not have liked that response too much as he went out, with Lori following behind.
The next shark to speak is Kevin. Kevin questions why he should invest in Hairfin, when he doesn’t need to cut his own hair; he goes out. The final shark, Daymond offers Tony $25,000 for a 40% investment in Hairfin despite the other sharks showing some form of disagreement about it. Tony responds to Daymond by asking to counter his offer for $25,000 for a 28% investment. This counter leads Daymond to up the investment to 30%; however, Tony continues countering offers, causing Daymond to go out. Tony realizes he isn’t going to get an alternative offer and accepts Daymonds offer of $25,000 for the 30% investment in Hairfin.

Hairfin Now in 2024 – The After Shark Tank Update

After leaving the stage of Shark Tank with a $25,000 for 30% deal with Daymond John, the Hairfin business seems to remain in business. However, there are no updates on whether or not the deal with Daymond has been concluded or not. While there isn’t too much of an update, there are a few minor things to be mentioned. For starters, Tony and his company have introduced newer sizes of the product. You can now purchase any size from 1 inch up to 5 inches. Professional hairdressers and salons continue to use the Hairfin in their businesses, which the customers in said salons have been happy with.  The Hairfin product continues to be sold on the company’s website, as well as on Amazon and Etsy. In addition to that, Tony appears to be posting recently on the Hairfin Instagram page. As of 2024, the Hairfin business has a net worth of $35,000.

Melissa Buechler
Melissa Buechler
Graduated from Washington Virtual Academies and have been a freelance writer for about 2 years now. In my spare time, I enjoy spending time with my pets, gaming, etc.
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