She has been recognized by the Urban League as a Trailblazer. ‘It’s not Uncle Kevin’ Megan said, grinning wildly. Lori was still concerned about the branding, she felt Hot Tot should be branded more appealingly towards children and she felt there was still a lot of work to be done. He thought it could be brilliant, an entirely new category in the lucrative beauty market, or Megan might be ‘facing a tough road’ in the future. BWR 105: Megan Gage: What It's Like to Do a Deal With Mark Cuban of Shark Tank from Biz Women Rock on Podchaser, aired Friday, 3rd October 2014. While I still don’t have a yacht or a jet, I live in true abundance. Gage walked away with a $75,000 check from one of show’s stars — Mark Cuban, outspoken owner of the Dallas Mavericks NBA team. Megan Gage was seeking $50,000 for 15% equity ($333,333.33 Business Valuation) of Hot Tots Haircare Products. After the demonstration, it was time for young Mr Cute to leave Mom on her own with the sharks. She was convinced that Hot Tot would be a huge success with the proper guidance and marketing support. The so-called “biggest deal in Shark Tank history” is a TOTAL SCAM. document.getElementById("comment").setAttribute( "id", "aacda231f023996155064f7f1b646d23" );document.getElementById("ae9a45cb14").setAttribute( "id", "comment" ); Save my name, email, and website in this browser for the next time I comment. Encouraged by her success so far Megan was inspired to grow the company further and set out to learn as much as possible about manufacturing and business. Megan defended Hot Tot with her usual passion, she detailed how she made $1,000 in sales in just two days at her first trade show in Dallas, many of the buyers had re-ordered. She almost cried as she explained how things had been so close to crashing down around her ears in the past, that glimpse of the real Megan made you respect the tough businesslike front she had so professionally showed to the sharks. https://offyellow.weebly.com › game-face-shark-tank-value.html Megan Gage … It wasn’t long before she found that everywhere she went she was asked by other parents where they could get the same styling lotion. A full-time mom and former social worker, Megan has found unexpected success in the professional beauty industry despite having any initial experience or connections. The sharks loved ‘Uncle Kevin’ but Kevin preferred his usual nickname, ‘Please, just call me Mr Wonderful.’ he joked. Megan Gage, our September Speaker, was able to fund her growing business at a critical time through the vehicle of Shark Tank, when Venture Capitalist, Mark Cuban decided to invest. Author: Denver Business Journal ... Like most mothers, when Megan Gage’s son was born in … Steve Dawson has been writing online for two years. , The BruMachen – Portable Single Cup Coffee Brewer. Free Business Plan Template. Its easy, and most importantly, affordable and allows you to create a brand new lipstick out of your scraps! MEGAN GAGE - President/Founder- Hot Tot Premium Children's Personal Care. The Beer Blizzard – Best Invention of Season 7? She had earned a masters degree in clinical social work and had achieved much in her field but after giving birth to her second child, her son Christian, she didn’t want to miss out on his early years of development and chose to become a stay at home mom. Megan explained that all other children’s products were designed with packaging that would appeal to children, she wanted to appeal to the parents instead, because it was the parents who would actually buy the product. The various bottles were pleasantly and professionally designed, but they looked more like an adult product to Lori. What an adorable little boy! Most of the complaints come from people who ordered the product and had their credit cards charged without authorization for as much as $109! A 500-year-old painting has been found in an apartment and returned to the museum where it was being displayed. Megan, as always, was well prepared with an answer, optical testing alone cost about $10,000 and without just that one test she was unable to use the term ‘Tear Free’ on her packaging, even though she believed her product was the safest one available. I saw her on Shark Tank, the wildly successful show compiled of tough, self-made, multi-millionaire and billionaires who are searching for the BEST businesses and products in America. Megan fashioned Christian’s hair into a baby Mohawk as she explained to the sharks about the presence of potentially dangerous chemicals in children’s hair-care products. Megan was only too happy to accept Mark’s deal, which was the only one offered to her, and he was probably the best shark for her to partner with, he shared her vision and passion for improving the safety of children. Megan’s professionalism and passion for her product have helped her grow the brand steadily and surely. Scouted for ABC’s Shark Tank within the first year of her business, Hot Tot Creator, Megan Gage gained the support of billionaire investor, Mark Cuban. seen on : season 4, episode 12 of Shark Tank Watch episode : entrepreneurs: Megan Gage: location: Denver, CO: category: Baby and Child Care: description: Professional-quality hair care products for children without harsh chemicals. In the episode, “New Shark Tank Hot Mom With A Great Idea Hotot,” Megan Gage, the creator of Hot Tot Children Haircare is seeking $50,000 investment in exchange of 15% equity stake in her business (Chapin, 2017, min. Regulations on labelling meant that substances such as formaldehyde, potentially dangerous in the long term, did not have to be included on the labels of such products. She began mixing lotions, soon developing her own mixture of baby lotion and pomade to give Christian cool-looking curls. With experience she had managed to reduce her costs until her mark-up was almost 300% on retail orders, and about half of that on wholesale orders, and she envisioned reducing them still further. She asked Megan if she was flexible about changing the packaging in the future. Megan, who always had the right answer at her fingertips, told him there were 280,000 salons in America alone, the global baby care market was worth $48 billion annually. She would prefer to see the child friendly and non-toxic nature of the product more prominently displayed on the bottle. Scouted for ABC’s Shark Tank within the first year of business, Hot Tot Creator Megan Gage gained the support of billionaire investor Mark Cuban. Daymond John asked Megan why she believed that her product could be so successful after only $20,000 in sales. The company made more in the month it appeared on Shark Tank than Gage had earned in a … For women who are constantly buying lipstick and throwing them away once it reaches its limit, Jill Quillin has given us the ultimate lipstick saver. Within a year of launching her hair care line, Megan was cast for ABC’s Shark Tank and hit the proverbial jackpot, receiving an investment from billionaire Mark Cuban on the show. At about the same time Megan noticed media coverage of children’s hair care products that revealed many of them, including many well-known brand names, contained toxic ingredients. He has an interest in anything that interests other people and a thirst for knowledge about all subjects. She detailed her early sales in boutiques and her subsequent realization since then that the best sales could be achieved through salons. Within 12 hours of submitting her first press release, Megan’s business started to grow. 2 Shares. *UPDATE: Megan landed a deal with Shark Tank investor Mark Cuban for $75k for 40% of her company on the 1.4.13 show. Interview with Shark Tank Contestant – Megan Gage of Hot Tot; Case Study: How I Got Barbara Corcoran, Shark Tank to Endorse my Book; Share. With the help of the sharks she could begin to move into the better known salons and would be given more attention by the big names in the business. Kevin O’Leary was still not impressed, as far as he saw it sales of $20,000 in such a huge and competitive market was equivalent to ‘mist’. 0.10). Mark Cuban spoke about his own three year old son, who suffered from eczema. Gage left the tank not only with a new investment, but a huge leap in sales. He conceded that Mark’s offer was generous, more generous than he would have offered and he also dropped out. He lives with a grumpy cat called Bubbles and an addiction to chocolate. Megan Gage is the founder of Hot Tot, the first complete professional haircare line made for the unique structure of kid's strands. He made an offer to Megan of $75,000 in exchange for 40% of the company. Encouraged by her husband, she began to look into producing her own product, free from toxic substances. She clarified for Lori that her product was safer than other similar products. Megan is following her steady growth pattern and using Mark’s help and experience to gradually move into the huge and lucrative salon market. She had recently received inquiries from distributors in Dubai and had been featured in over 100 media sources. Robert Herjavec wasn’t sold on the business. https://www.sharktankblog.com › megan-gage-hot-tot-update-interview Starting the business with just $40,000, she operated with minimal expenses from home and even produced her own company logo on Photoshop. https://gazettereview.com › 2016 › 05 › hot-tot-update-shark-tank Sales increased slowly but steadily and after a year and a half she was encouraged by her husband to appear on shark tank to seek additional investment and business expertise. This line of professional hair care products for infants scored a $75,000 investment from Cuban for 40% of the business when creator Megan Gage appeared on the show during season four in 2013. Lipstix ReMixby Jill Quillin Lipstix ReMix is the ultimate lipstick renewal system. Megan told him that in the previous 15 months profits had only been $20,000, although in the last week a purchase order for $7,000 had been signed with a new contact in the short-term sale flash site market. In 2011 she got into contact with a private label manufacturer in Canada and used them to produce a small trial run of her newly developed product, which she called Hot Tot. Beyond Sushi: $1.5 Million Shark Tank Deal Fell Through He had a mischievous twinkle in his eye as he met the sharks and they seemed to like him, although he was far more interested in his lollipop for most of the time. He wanted to know what allergy testing had been done on Hot Tot. As a mom that suffers with a variety of allergies and works in the cosmetic industry I know all too well the benefits of using healthy, non toxic products. Pin 2. Megan soon began to send out press releases and received some quick and positive responses, including an inquiry from the hugely successful Pregnancy and Newborn magazine within 12 hours of the first release. Lori followed Kevin and also dropped out. Robert Herjavec asked what the sales had been so far. The magazine featured Hot Tot, along with photos of Christian, in August 2011, another feature appeared in March 2012 in Parenting magazine. Mark liked it, he believed that further testing on Hot Tot was very important and the money should be available for Megan to invest in it. Would you like to start an at-home business, but you're not sure where to start? Shark Tank has increased my faith by a gazillion percent and provided great content and insight for my life’s story. Full Service Day Spa Opens – Nardo’s Natural – Update. After striking a deal with Mark Cuban on the Shark Tank, Megan spoke about how relieved she was to finally have some financial stability behind the business. The brand has since played a critical role in kid’s trendsetting, styling campaigns, editorials, and even a few celeb-u-tots. Megan Gage and her son pitched Hot Tot on "Shark Tank" in 2013. How did Megan Gage, Founder, Hot Tot go from a social worker to building a safe and natural cosmetic global company for children? What do Lani Lazzari of Simple Sugars, Megan Gage of Hot Tot and Dallas Robinson of Kisstixx have in common? How do you become a Business Woman who Rocks? Here’s a screen shot of a discussion among Megan Gage, who got a deal for Hot Tot, and Tiffany Krumins, who got a deal with Barbara for Ava the Elephant in Season One. She needed help to get Hot Tot onto the shelves and recognised by customers, from there it would be plain sailing. The Gazette Review is your daily news source covering everything from world news to personal finance.We provide the most recent, unbiased accounts of the news that matters to you.Contact us: editor@gazettereview.com, Combat Flip Flops Update – What Happened After Shark Tank, Sun-Staches Shark Tank Update – The Company Now in 2018, Italy: Stolen Painting Found In Naples Cupboard, EPL Standings: Top 10 After 18 Matches Played. Megan Gage, founder of Hot Tot, who was invested in by Mark Cuban on Shark Tank, shares how her partnership has affected her business and relationships. Megan looked fairly happy at the offer initially but respectfully asked Mark if she could hear from the other sharks first before answering. Mark Cuban interjected at this point, he couldn’t understand how a product that was receiving so much positive feedback and interest had only achieved $20,000 sales in 15 months. Appearing in the Shark Tank was Megan Gage of Hot Tots Haircare products which you can find on Amazon. Megan, whose belief in herself and her product was one of her strongest strengths, passionately detailed the excitement that she encountered from customers and retailers alike about Hot Tot. Share. Megan, still smiling, thanked him for his comments but had to get the last word in with Uncle Kevin ‘It is a business Kevin, I just wanted to clarify that I do know that’. 530.2k Followers, 78 Following, 1,495 Posts - See Instagram photos and videos from @sharktankabc She wasn’t put off, her market wasn’t people in the beauty trade but other parents, who would care as deeply as she did about the safety of the products that their children used. It’s going to be a tough road just as Robert Herjavec predicted, but with Mark’s dedicated support behind the tough professional Megan, Hot Tot is likely to be a hot new salon product in the very near future. Hello momprenistas, It has been a long crazy month for me with relocating to a new home and office, planning summer vacation, and getting prepared for the new school year. The brand has since played a critical role in kid’s trendsetting, styling campaigns, editorials, and even a few celeb-u-tots. 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