Cut Buddy Shark Tank Summary
|Episode||Season 9 Episode 11|
|Business||beard shaping tool and hair cutting guide|
|Asked For||$300,000 for 10%|
|Accepted Offer||$300,000 for 20%|
|Business Status||In Business|
What is the Cut Buddy?
The Cut Buddy gives guys the confidence to trim their beards and cut their hair themselves. It helps give you a professional barber-style haircut in a matter of minutes. It works with all styles of hair and either a pair of clippers or a razor.
It’s made of plastic and comes with a speed tracer marker pen if needed to outline the shape, or you can just run the clippers over it. Giving you the perfect lines and shape, every time.
Who Founded the Cut Buddy?
CEO and inventor Joshua Esnard is a St. Lucia born immigrant to the USA whose parents emigrated to pursue their studies when he was still young. Even as a young kid, Joshua enjoyed inventing things.
He served for a while in the US military. He was working full-time at Broward College, doing Cut Buddy as a side gig, promoting it through online videos. Since the Cut Buddy went viral and he’s become more successful, Joshua now works on all aspects of the business full time with a few partners.
The idea for Cut Buddy first started as a result of Joshua’s dad giving him plain and basic haircuts as a teenager. He was beginning to show an interest in girls and wanted to look cool. It would be correct to say his first few attempts at it were a failure. So he cut out some initial prototypes from cardboard to help him get the style right.
What kickstarted Cut Buddy 2.0, as he calls it, was his girlfriend complaining that he never finishes anything.
So with that extra motivation, he got a relative who was an engineer to draw up a design, got it patented, and managed to get a production company in China to make it.
Afterward, Joshua tried pitching to investors but didn’t have much luck. So he mostly sold it on Youtube out of his garage, but things drastically changed for him when he allowed an influencer on Youtube, 360 Wave Process, to endorse the product for a commission cut.
Almost overnight, hundreds of orders starting coming in, to the point where his current inventory sold out.
As interest grew and the product went viral on Facebook and Youtube, he managed to get product endorsement slots on TV shows and magazines. After which, he managed to get the Cut Buddy on Amazon and eBay. This was when he was able to turn his side gig into his full-time business.