Browndages are a distinctive bandage. They are different from traditional wound dressings because they come in different shades of brown to match your skin tone. When founders Rashid Mahdi and Intisar Bashir pitched it on Shark Tank, they landed a deal with Mark Cuban, Lori Greiner, and Daymond John. As of 2024, Browndages is estimated to be worth $500,000.
Founder
Rashid Mahdi and Intisar Bashir are a married couple living in Columbus, Ohio. Raising their three children means caring for them while they are hurt.
As they purchased more bandages, they discovered that the tan hue of the bandages didn’t match the children’s skin tone. Bashir realized that not everyone agreed with the nude bandages advertised by the brand. Since Bashir comes from a family of entrepreneurs, she was inspired to solve this problem.
The founding of the Brownach family
The Ohio natives founded Browndages in 2018. Initially, Intisar and Rashid made bandages for adults, but later expanded to children. Their children preferred personalized bandages with princess and superhero designs.
With the help of an artist, they designed bandages with characters on them to attract more children. While running the company, Rashid worked in logistics and Intisar in IT management.
Although the idea was great, sales were initially slow until June 2020. That changed during the Black Lives Matter movement. Black-owned businesses saw a huge increase in sales. That year alone, the business did $135,000 in sales and had to wait four months to rebuild its inventory.
Shark Tank Appearance
Rashid and Intisar appeared in Season 13, seeking a 7.5% stake for $75,000. The company’s message was well received, but Robert felt the market was too competitive and the capital required was too high.
Kevin O’Leary offered $75,000 for a 15% stake and a licensing agreement. Lori found it difficult to make a deal with Mr. Wonderful, so she asked Daymond and Mark Cuban to join her. The three wanted to invest $100,000 in exchange for a 30% stake.
Kevin’s offer improved, but the founders reached a 25% deal with Lori, Mark, and John for $100,000. The power of the three sharks got them 10% more, and at least they provided a $75,000 line of credit. It was also nice to see Kevin congratulate them, which is rare, and he helped them get a better deal.
Sales after Shark Tank
Like many sincere companies, Browndages has found love with fans of Shark Tank. According to CNBC, the company generated $130,000 in sales six days after the episode aired in April 2022.
This helped them develop more products like masks, pajamas, hats, cans, and elastic bandages. All of these products can be purchased on Browndages.com, and some of them are sold through Amazon. Currently, their products are sold in more than 40 locations, mainly in the United States, but they also have a location in Amsterdam and Ontario.
The bandages have 69 reviews on their website, with an average rating of 4.7 stars. Browndages’ authentic products have received positive publicity on social media. Celebrities such as Lupita Nyong’o have promoted the business on Twitter, and the brand currently has more than 79,000 followers on Instagram.
Although the company has not released any recent sales figures, the Browndakis are valued at around $500,000. If Cuban can get the NBA’s Dallas Mavericks to wear and distribute the bandages, sales could grow significantly. The three Sharks should bring something different to help the Browndakis grow.
Categories: Shark Tank
Source: dut.edu.vn
