There is no shortage of hair care products, but there aren’t many products targeted at people with coarse hair. You Go Natural (YGN), founded by Monique Little, specifically targets this niche and also sells headbands, turbans, and bandanas. They appeared on Shark Tank and have a deal with Mark Cuban. To date, You Go Natural is valued at $6 million.
Monique Little’s Background
Monique Little is a New Jersey native currently living in Dallas, Texas. Little attended Rutgers University, where she received a bachelor’s degree in business and managerial economics. After college, she started her own business, and her success landed her on the 2021 Forbes “Next 1000” list.
Your birth was natural.
Soon after graduating from college, Monique became a mom and quickly realized that busy women with curly hair don’t have a lot of time to take care of their hair. Plus, traditional headscarves are difficult to wear.
Monique wanted to keep things simple, so she asked her mother to help sew easy-to-wear head scarves. These scarves are satin-lined and pre-tied, perfect for women who want to save time without sacrificing comfort.
The company launched in September 2016 and did $100,000 in sales that year. Although it was run out of her mother’s living room, You Go Natural had great early success and opened a 7,500-square-foot production facility, which was large enough to fulfill customer orders and scale operations.
Appeared on Shark Tank
In 2020, YGN’s revenue reached a staggering $2.2 million, and there are no signs of slowing down. The founder revealed that the epidemic limited people’s hair care solutions, and they chose simple options. The increase in orders also meant hiring more employees.
The following year, they expanded their factory and needed more capital. Monique raised $2 million in funding led by Brand Foundry Venture Partners, Lightspeed Venture Partners, and Capital Factory.
In early 2022, she applied to be on Shark Tank and made it through the show’s lengthy screening process. Monique appeared on Shark Tank with her brother, COO David Dundas, who also runs an influencer marketing agency called HelloConvo. The brand surprised the Sharks by having $15 million in lifetime sales.
After Shark Tank
The episode aired in May 2023, and You Go Natural received mixed reactions from fans online. Some viewers called it “unflattering” and “cartoonish.” Nearly 4 million people watched the episode live, and millions more watched it through syndication.
Currently, there is no evidence that a deal with Mark Cuban has been done. It could be that the royalty side of the deal would take too much money away from the company. Based on the run rate, Mark would get his money back in six months!
To view their products, visit YouGoNatural.com. In addition to bandanas, they also sell swim bandanas, headbands, t-shirt buns, and more. There are also items for men, such as open bandanas and premium bandanas. You Go Natural is still thriving, with a team of 50 sewing machine operators to keep up with demand.
Unlike some of the businesses that have been featured on the show, their website is beautifully designed, and they know how to market their products to their target audience. You Go Natural is currently valued at $6 million, with an expected annual revenue of $10 million, and should be profitable this year.
Categories: Shark Tank
Source: svlsf.edu.vn