Monday, December 5, 2022

You Smell Soap Shark Tank Update – Now in 2022

You Smell Soap Before Shark Tank

beforeBefore appearing on Shark Tank, Megan Cummins was a college student, who successful got her degree. One of her College projects was to design a custom packaging for any product imaginable, having a full range of tools which she could take advantage of. She decided to design custom packaging for luxury soap bars, and called it You Smell Soap. After getting praised for her custom luxury soap packaging, Megan Cummins decided to make real soap bars, put them in her own custom packaging and send them off to test the market.

In total, she made twelve hundred packages of luxury soap, which she then send off to all kinds of different retailers and outlets all over the world. According to Megan Cummins, she did this to find out what people thought about her luxury soap, and what her price range should be at. Because of the fact that You Smell Soap is not yet a real company and doesn’t have any sales, Megan Cummins really needs the investment of one of the Sharks, in order to produce more You Smell Soap bars, and start selling them to retailers and outlets.

You Smell Soap During Shark Tank

“Megan Cummins walks confidently towards the Sharks and stands in front of them”

Megan Cummins starts her presentation by introducing herself to the Sharks, and states that her company is called You Smell Soap. Megan Cummins states that she is seeking an investment of fifty five thousand dollars, in exchange for twenty percent of her company.

Megan Cummins continues her presentation by stating that You Smell Soap is a new luxury soap brand that is a breath of fresh air. It has delicious fragrances and a vibrant personality. Megan Cummins states that You Smell Soap started as a College project, where she was taking a package design class, and had free reign to develop any product she wanted.

She wanted to develop something that had personality, and what instantly came to her mind was “You Smell”. Megan Cummins states that she didn’t wanted to get blinded by excitement, which is why she did a trail run to test the market for luxury soap bars. For that reason, Megan Cummins made about twelve hundred soap bars, in two custom fragrances; Lemon and Mint. She states that she brought some samples so the Sharks can smell them.

“Megan Cummins walks over to the Sharks and gives them samples of You Smell Soap”

“Robert Herjavec seems very impressed by the custom packaging and soap bars”

Megan Cummins states that since she hasn’t opened the doors of her company yet, she doesn’t have a revenue. She did test out the market by sending out samples of her soap bars to retailers all over the world, who happily took it to test it out.

“Kevin O’Leary asks Megan Cummins if she has sold any soap bars yet”

Megan Cummins answers the question by saying that she hasn’t sold any soap bars yet.

“Mark Cuban asks Megan Cummins if she has soap bars sitting in a warehouse”

Megan Cummins answers the question by saying that she doesn’t have any soap bars in stock either, because she had them made and got rid of them right away. She continues by stating that almost overnight, the You Smell Soap bars went international.

“Kevin O’Leary asks Megan Cummins why she gave them away”

Megan Cummins answers the question by saying that she didn’t want to sell them, because she wanted to find out what people were willing to pay for them.

“Mark Cuban asks Megan Cummins what she learned about the market”

Megan Cummins answers the question by saying that people were surprisingly selling them for a price between seven and twelve dollars for one single bar. She continues by stating that she also found out that some very big companies want to price for the bar to be between four and five dollars.

“Kevin O’Leary asks Megan Cummins which big companies are interested in You Smell Soap”

Megan Cummins answers the question by saying that the biggest company that is interested is Urban Outfitters. According to Megan Cummins, the company asked how fast she can make You Smell Soap bars, in what quantities and what the price for a single bar would be.

“Barbara Corcoran shows Megan Cummins the paper soap and asks her what it is”

Megan Cummins answers the question that the paper soap is a new product that she designed, which comes in packages that are smaller than a pack of gum. You can fit those packages easily in your purse or pocket and always have a piece of soap with you. Megan Cummins states that it would be something to purchase impulsively, at a cash register.

“Barbara Corcoran asks Megan Cummins how much she sells the soap bars for”

Megan Cummins answers the question by saying that the soap bars will be roughly around eighty cents, which will be retailed at about two twenty five a piece.

duringMark Cuban states that if he would invest in Megan Cummins’ company, he would be very strict and demand a lot from his partners and employees.

Megan Cummins interrupts Mark Cuban and states that he would love to work together with her, because of the fact that she is the most tenacious person he will ever meet.

“Mark Cuban asks Megan Cummins what she will do with the fifty thousand dollars”

Megan Cummins answers the question by saying that she will primarily use it to build the product and produce more You Smell Soap bars.

“Kevin O’Leary asks Megan Cummins if she already has orders”

Megan Cummins answers the question by saying that she does not have actual orders, because of the fact that she doesn’t want to promise something, and then not be able to deliver the product if something fell through.

Daymond John states that he admires Megan Cummins’ tenacity, however the “soap business” is not really a business that he is very much interested in. Daymond John continues by stating that he doesn’t have enough knowledge about the “soap business” to make this product work, and doesn’t want to risk any of his money. Daymond John is out.

Kevin O’Leary states that Megan Cummins is in a brutally competitive market, because anybody, including himself, could get into the soap business. Kevin O’Leary continues by stating that the only thing of value is the brand of the soap, which is unproven yet when it comes to You Smell Soap. Kevin O’Leary wishes Megan Cummins good luck, and states that he liked the interview, but doesn’t want to invest. Kevin O’Leary is out as well.

“Mark Cuban asks Megan Cummins what makes her the person that could take a concept and design, all the way through to success”

Megan Cummins answers the question by saying that the first example would be that she decided she was going to give her concept a go, and in about a month, she already had international press and magazines in the United States wrote about her.

Mark Cuban states that the press is pretty much short-lived, and that it doesn’t mean that You Smell Soap is going to continue sly get that kind of press. It also doesn’t automatically mean that you can convert that in sales.

“Mark Cuban asks Megan Cummins what kind of skills she has, which are going to give him confidence in her that she is going to be able to deliver what she promises”

Megan Cummins states that there is nothing in the world that could stop her, especially if one of the Sharks teaches her the ropes and tell her what she needs to do. She states that she will get things done and the Sharks would not have to ever think about it again.

Mark Cuban offers fifty five thousand dollars, in exchange for a twenty percent stake in You Smell Soap, and asks Megan Cummins immediately if they have a deal.

Barbara Corcoran cuts Mark Cuban off and tells him to wait a minute. Barbara Corcoran states that Megan Cummins really surprised her, because of the fact that she wrote her off the minute she walked into the studio. However, the more Megan Cummins talked, the more she was interested in working together with her.

Barbara Corcoran continues by stating that every single one of the entrepreneurs that appeared on Shark Tank and went into a partnership with her, is now making money. When her partners call her, they will find her immediately, and she works her butt off for them. Barbara Corcoran offers fifty five thousand dollars, in exchange for a forty percent stake in You Smell Soap, because she wants to make sure she will make a return on her investment. She also wants to receive ten cents on each bar that is being sold.

Robert Herjavec states that he thinks You Smell Soap is a great product and great brand, but his concern is if Megan Cummins is going to quit her day job to work on You Smell Soap fulltime, or is she going to continue being a graphic designer.

Megan Cummins states that she will quit her day job and work on You Smell Soap fulltime.

“Barbara Corcoran asks Megan Cummins how she will be able to support herself that way”

Megan Cummins states that she has been saving up a lot of her money, in order to be able to make the big jump to work for herself, in her own company.

Mark Cuban states that he has been in the position that Megan Cummins is in right now, where he has been an entrepreneur and starved, and where he has had his dreams right in front of them, but needed help from others to reach them. Mark Cuban states that for these reasons, he really wants to work together with Megan Cummins.

Robert Herjavec states that he thinks the offer needs to be changed, because he thinks You Smell Soap as a business needs fifty five thousand dollars for the twenty percent, but Megan Cummins needs a salary along the way, in order to be able to support herself.

Mark Cuban states that Megan Cummins has taken her concept and done amazing things, which is why there is so much interest from three out of the five Sharks.

Robert Herjavec states that his offer would be to pay Megan Cummins the fifty five thousand dollars, in exchange for a twenty percent stake in You Smell Soap; however, on top of that, he will also pay her another fifty thousand dollars, so she can live off of that money.

Barbara Corcoran states that she is going to edit her offer for Megan Cummins, and that she will give Megan Cummins a fifty five thousand dollar investment, in exchange for a thirty percent stake in You Smell Smoke.

Mark Cuban states that in the big picture of things, it’s not about the financial investment, it’s about who is really going to give her the support by giving her the time that she needs, connections that she needs and access to other sources and companies.

Robert Herjavec states that Megan Cummins doesn’t need the success of other people, in order to become successful herself. According to Robert Herjavec, Megan Cummins really needs the financial support, especially in the first year of running her own business.

Megan Cummins states that she loves all of the Sharks, and that she would have loved to partner up with Barbara Corcoran. Megan Cummins continues by stating that she thinks financial support is going to be crucial in her first year as a business owner, which is why she is accepting Robert Herjavec’s offer.

At the end interview, Megan Cummins states that it was very difficult to choose between Barbara Corcoran, Mark Cuban and Robert Herjavec, because all of the deals were amazing. She states that having that extra money really helped to tip the scale, and she thinks that Robert Herjavec is going to be a great partner for her.

You Smell Soap Now in 2022 – After Shark Tank Update

Megan received offers from three different Sharks—Barbara, Cuban, and Robert. Ultimately, she went with Robert Herjavec, who offered her $55,000 for a 20% stake in her soap company. He also promised her an additional $50,000 so that she can get the business can get going.

However, she never received the money after the episode aired. She had tried to get in touch with Robert multiple times (after he didn’t contact her) but she was never able to reach him. It wasn’t until a firestorm of criticism against Herjavec came up in the media that he responded.

Instead of offering her the $50,000 for 20% of the company (and an additional $50,000) that she’d been promised on the show, however, he offered her $50,000 for 50% of the company, which she ultimately turned down. As for why he didn’t contact Megan after the show, he allegedly needed to complete the due diligence process and it was after that that he decided to adjust his offer.

Despite the failed deal, however, Megan managed to grow her business with the help of an outside investor. Even her fiancé began working for the company full-time. They continued to work on You Smell until 2014 when they sold the business for an undisclosed amount. The company later closed down in 2016.

That’s not the end of her entrepreneurial journey, however. After selling the soap business in 2014, she launched a fashion jewelry brand called Sparklepop, which was featured in a number of publications including Oprah Magazine and Family Circle. As of 2022, however, the business is no longer operational—she had closed it down back in 2019.

Megan currently runs an Etsy shop called ‘DownloadsthatDonate’, which donates a portion of their proceeds to no-kill animal shelters

Nowadays, she’s focusing her time on Downloads that Donate, an Etsy shop that sells digital clipart files that you can use for t-shirts, etc. They also donate a portion of their sales to no-kill animal shelters in the United States. And the last that we had heard, she’s also running the contract design firm that she’d been running since 2007.

paige@gazettereview.com'
Paige Turner
Paige is a freelance writer based out of Chicago, When she isn't writing you can probably find her walking her 6 month old golden retriever down at the park.
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