No Mo-Stache

Company: No Mo-Stache

Founders: Jennifer Paschall and Gita Vasseghi

Season: Appeared on season 9 in the week 6 episode

No Mo-Stache is a portable, mess-free hair removal kit that leaves skin feeling smooth. The waxing strips, which are available for both the face and the bikini line, are hypoallergenic and each kit contains aloe cream for post-waxing relief.

According to their website, their mission “focuses on building a woman’s confidence with cost effective solutions that provide convenience without skimping on quality.” The company boasts a mess-free experience that doesn’t burn the skin. The lip waxing kits cost $12 for 24 strips and $16 for 40 strips.

When Paschall and Vasseghi originally appeared on “Shark Tank,” they came in asking for $100,000 for 25 percent equity. Kevin O’Leary liked the idea and offered $100,000 for 10 percent with a $1 royalty until $300,000 was repaid. Despite initially viewing it as more of a gimmick, guest shark Bethenny Frankel then jumped in with an offer of $100,000 for 40 percent, with the promise of creating an entire brand under Skinnygirl. She also added Lori Greiner to the deal and proposed the idea of rebranding as No Mo so they could expand their offerings. Ultimately, after numerous counteroffers were made, the duo accepted a deal with Frankel and Greiner at $100,000 for 25 percent equity with $200,000 paid back in royalties.

Vasseghi spoke with Business 2 Community about No Mo-Stache’s experience on the show and what their next steps are. Take a look at the Q&A below:

Q&A with No Mo-Stache’s Co-Founder Gita Vasseghi

What was your strategy for navigating “Shark Tank”?

Our strategy was to appeal to the women sharks because our product is geared towards women facial hair. We prepared for many months before, trying to consider any question they would throw at us. We literally practiced hundreds of “Shark Tank” questions with each other. Gita was Kevin and I was Mark during role play.

How has No Mo-Stache changed since the episode was first recorded? Since it aired?

We have grown immensely since the show aired. We have broadened our distribution and have had opportunities we would have never had without “Shark Tank.”

Is there anything you would have changed about your time spent in the tank, including your pitch and valuation?

We would not have changed anything from our experience in the tank. It was an amazing experience and we learned so much.

Who’s your favorite shark?

Mark Cuban and Mr. Wonderful were so nice to us on the show. They were both very supportive of us.

Do you think “Shark Tank” was the right move for your business?

“Shark Tank” was absolutely the right move for our business. It has given us a launching pad for so many great opportunities.

What are the company’s next steps?

Our next steps are launching in Ulta Beauty in the spring and CVS in summer 2018!

Where do you see this industry in 5-10 years?

This industry will become more about do-it-yourself, quick results type products.

What would you say to people who want to start their own business?

You have to love the challenges that you face. You have to be a dog on a bone and never give up. It takes extreme persistence and adaptability. You also have to be good at motivating yourself and being a self-starter. Creating your own structure.

What advice would you give to entrepreneurs who want to make it on “Shark Tank”?

It’s all about personality. Be yourself and believe in what you are doing. Let your passion shine through your presentation.

Responses have been lightly edited for clarity and length