Manscaping is now part of the urban terminology, referring to a man trimming or shaving pubic hair. A twist on the term landscaping, manscaping is now seen as a necessary practice for the modern man. There is an increasing demand for products specially designed for grooming sensitive areas of the body. Manscaped identified and took advantage of this growing demand.
Manscaped is a business that specializes in premium, below-the-waist grooming and hygiene products for men. Started by father and son-duo Josh and Steve King. The business idea occurred to Josh King on a night out with his friends, where they discussed their struggles grooming their delicates. Josh King then turned to his father, and a little market research informed them that male private grooming products were a thriving multi-billion dollar industry, and thus, Manscaped was formed. The business provides a range of electric trimmers, lotions, and perfumes for men to stay groomed at all times.
The father and son duo’s identification of the demand was right on the money, and the wild success of Manscaped is evidence of it. According to estimates, the business is now worth around $100 million and is in the process of being acquired by undisclosed sources. The success can be credited to the rise of the metrosexual movement or the company’s brand of humor that attracts customers. It is an excellent example of entrepreneurship that focuses on filling a particularly identified niche in the market.
How Did The Shark Tank Pitch Go?
The father and son duo brought their brand of humor to the Shark Tank pitch, which instantly endeared them to the Sharks. The subject matter allowed them to use several innuendos that tickled a few funny bones. It was in line with the humor they used for their product’s branding, which further impressed the Sharks. The duo asked for $500,000 in exchange for 7% of their business.
The duo narrated the story about the business’s inception and elicited chuckles in the process. Mark Cuban asked Charles Barkley if he manscaped, to which the NBA legend answered a resounding no. Even among the jokes, it was obvious that the Sharks were impressed with the brand building and display.
Josh King emphasized how the market was booming as he quoted a figure of 73% for men who did below-the-waist grooming. The Sharks asked the reasons behind this sudden increase, and King answered that it was due to the rise in awareness and millennial men who tended to be more metrosexual.
The entrepreneurs handed out their essential kits to the Sharks, who appreciated the packaging. The discussion then turned toward numbers, as the Sharks wanted to know the business’s performance. The duo revealed they had made $1.5 million last year. They had also made a loss and were re-investing all their money in the business.
Steve King emphasized that most of their cost is related to customer acquisition, and they used humor as a technique to attract customers. This raised a few eyebrows as the business model looked at the process rather than the end product. Kevin O’Leary declined to make an offer due to an uncertain business model. Charles Barkley also backed out of negotiations due to his lack of experience. He had never done manscaping before and will not be able to provide any expertise.
Robert Herjavec liked the business, but he was skeptical about the valuation. In his opinion, a 7% stake was not sufficient. He made an offer of $500,000 for 35%.
Lori Greiner wanted to know if there were women who bought the product. The duo informed her that women often bought their products as a gift for men. Greiner was intrigued despite her not being part of the target demographic. Mark Cuban was so amused by the idea of Greiner selling Manscaped on QVC that he offered to join forces with Greiner. They put forward a joint offer of $500,000 for 25% equity.
Herjavec retracted his offer as he believed Greiner and Cuban had offered a better one. The father and son contemplated their decision for a few moments and then accepted the offer on hand.
Our Review of Manscaped
Manscaped provides a range of products all intended for below-the-waist grooming. A mixture of customized lotions for sensitive areas and high-performance electric trimmers have seen a lot of happy customers. However, there are also a few complaints that can be fixed on the company’s end.
Pros of Manscaped
- Customers have the choice of buying a kit or full-sized products.
- The trimmers provide a very close shave without cutting the skin.
- Wireless trimmers that can be charged
- Waterproof trimmers for ease of use in the shower
- The trimmers are quiet and do not make excessive noise.
- The shaving cream and lotions are scented but do not chafe or cause itching.
- Have also introduced ear and nose trimmers.
Cons of Manscaped
- The price can be too steep for a trimmer.
- Customers complained about the position of the power button on the trimmer as they kept accidentally shutting off the trimmer while shaving.
- The ear and nose trimmersseemingly don’t work for a few customers.
- Shipping prices can be high.
Who Is It For?
The product’s branding and name show that it is targeted toward men. It focuses on male anatomy and designs its products for maximum comfort. However, product purchase does not have to be restricted to men. As Lori Greiner pointed out, this product could be a gift from women as it will help the men in their life become better groomed.
Are There Any Alternatives
Men can use many alternatives, such as conventional razors and trimmers, for their grooming needs. However, Manscaped’s branding sets it apart, and the kit is also a great idea that combines a few essential products.
Manscaped never closed its Shark Tank deal after getting an offer on camera. However, its rousing success shows that it did not necessarily need Shark Tank’s money but the exposure. The brand is now a multi-million business that sponsors UFC fights. It even features celebrities for its branding, with Pete Davidson being the latest face of the product.