Gently Soap Update | Shark Tank Season 15
Kristen Dunning pitched Gently Soap in Shark Tank 15 and demanded $75,000 in exchange for 25% equity. Gently Soap is an herbal and chemical-free bath products brand that solves the problems of people who have sensitive skin.
The sharks were impressed with the fragrance and aroma of the products. Also, this business has an impressive profit margin of 78%. Candence offered $75,000 for 30% equity, but Kristen decided to stick to her original ask.
Fortunately, both agreed, and Gently Soap left the tank with a deal. Has this deal actually closed off the camera, and what happened after Shark Tank? Find out in this Gently Soap update!
| Company Name | Gently Soap |
|---|---|
| Founder | Kristen Dunning |
| Founded | 2021 |
| Product | Herbal bathing products |
| Ask | $75,000 for 25% equity |
| Deal | $75,000 for 25% equity |
| Sharks | Candace Nelson |
Gently Soap Update
If you’re short on time, here’s a brief overview of what happened to Gently Soap after Shark Tank!
Kristen received two offers in the Shark Tank, but she decided to stick to her original ask. Fortunately, Candace agreed to her demand, and Gently Soap got a deal in Shark Tank.
In terms of Gently Soap updates, the company is still in business. Candace and Kristen signed the agreement, and the products are now available at Thirteen Lune and BLK + GRN.
The Shark Tank helped in gaining massive popularity and a customer base. The company’s sales have grown exponentially, and the website was flooded with visitors when the episode aired on television.
As of March 2024, Gently Soap has raised approximately $205,000 in three rounds, and the company’s net worth is estimated at around $1.2 million.
More company updates from Shark Tank Season 15:
About Gently Soap
Kristen Dunning founded Gently Soap in 2021. Gently Soap products are rooted in the agricultural legacy of her grandparents. She has studied horticulture and realized that plants have immense potential and health benefits.
Using that knowledge, she started Gently Soap. It is a line of bath products that eliminate essential oils and synthetic fragrances. Thus protecting its users from serious irritations while maintaining an incredible, gentle aroma.
People with sensitive skin can use their products and indulge in light and clean botanical soaps that are ultra-gentle and more sustainable.
Gently Soap Shark Tank Pitch Recap
The founder began the pitch with an ask of $75,000 for 25% equity. The sharks then went on to physically inspect and smell the soaps.
Candace: I am really sensitive to fragrance, but these soaps are so lovely. They feel so natural. They are from Earth. And they even look so beautiful. You can see the flecks of the herbs and the flowers.
Founder: The smell that you are getting is actually from proprietary herbal infusions that I created from my greenhouse work.
Mark then asked about how the founder actually got the idea of making such a unique product.
Founder: Actually, I am an agricultural researcher. I used to visit my grandparents’ farm and spend time with plants, and this was when I got the idea.
Candace: Where are you selling your products currently?
The founder revealed that their products are being sold only via e-commerce. They are available on Amazon.
Kevin: What have you done in sales?
Founder: So, our lifetime sale is $113,000. We officially launched in February of 2021.
Kevin: Do you get any repeat orders?
The founder revealed that their repeat customer orders are at 78%. The sharks were highly impressed with this matric.
Candace: So, are these people suffering from eczema, or are they just people who love the smell of soap?
Founder: It’s a mix of both. I would say about 60% something of our customers actually suffer from eczema and sensitive skin.
Mark: What were your sales last year?
The founder said that they did $66,000 in sales. In which they made a profit of about $38,000.
Lori: That’s impressive. What is your margin?
Founder: So, they cost us $2.38 to manufacture and box, but we sell them for $11.
Candace: So, you sell them individually or in a box?
Founder: Yeah, you can do the four for $40 or one bar for $11.
Candace then asked about the total market size of the eczema-sensitive skin market in the U.S.
Founder: 71% of the population has sensitive skin. And, it’s increasing.
Kevin: How did you come up with $11 a bar for a soap? This is expensive.
Candace: But this is so beautiful. This is such an impressive product.
Kevin then asked about the prices of other soaps that provide a solution to sensitive skin.
Founder: They are around $14 to $16. I actually designed it out of necessity for me as I have eczema myself. This soap was born out of my passion, urgency, and my farming legacy.
Candace: I’m so proud of you for turning that adversity into something beautiful.
Lori: I love that you solved a problem that came from your own need. You have done a beautiful job. But it’s not the right business for me now because of something else I am working on. I am out.
Mark also left the deal right away. He was unable to connect personally with the product. He said that he isn’t a luxurious soap person.
Daymond John said, I have been very fortunate enough that I don’t really do much for my skin, and one of the only things people compliment me on is my skin. I have to thank my mommy for that.
John: So, I don’t believe that I can help you as much as one other person on this panel. So, I am out.
Kevin then said that he finds the margins of gentle soap super attractive as an investor. He then asked about customer acquisition costs.
Founder: We can get customers for about $5.83, but our average order value is $42.38.
Kevin: I smell royalty here because you can afford to pay me royalty.
Kevin then offered $75,000 for a 10% stake and 1$ royalty until $500,000 is paid, which then drops to 20% in perpetuity.
Candace: I don’t think you want a royalty deal because I have a friend who can help you scale your business. I will give you $75,000 for 30% of your business. I think we can blow this up.
All other sharks called her out for being greedy and manipulative for offering such a one-sided deal to a young founder.
The founder gave Candace a counter-ask of $75,000 for a 25% stake, to which she agreed, and Gently Soap got a deal on Shark Tank.
Final Words
Gently Soap’s founder got the same deal that she had asked for in her initial pitch. She thinks that Candace can help her carry her grandparents’ legacy through her product to bathrooms nationwide.
