Lori’s very first product was a plastic earrings. In 1996, she was able to make at least 100 earrings. She also invested in several companies including Squatty Potty, Readers, Paint Brush Cover, Hold Your Haunches, Drop-Stop, and FiberFix. She was able to sell more than two million sponges. The book reached 3rd position on the ‘Wall Streer Journal’ bestseller list. The same year she published the book Invent it, Sell it, Bank it! – Make Your Million Dollar Idea into a Reality. In 2014, she also invested in a company, Scrub Daddy, which produced a texture-changing household sponge and was able to make a huge amount of capital. She also joined the US TV series “Shark Tank” in 2012 and was widely recognized by common people. Penney and after one and half years, through the sales of earrings, she was able to increase her net worth to an extreme point. She didn’t have much money to invest in it, so she used to borrow money and created a sample product. Lori Greiner: Professional Life, CareerĪfter graduating from Loyola University Chicago, she generated the idea of a Jewelry Box and She gave a start to her career by opening her own business for the first time. Her activism at the university made her take part in different programs and shows which helped her in future years. Lori Greiner was also focused on journalism, television, and film while at the University. Caption: Lori Greiner and Dan Greiner (Source: Biography Tribune) During her college days, she also wrote plays but for a very short period of time. So her first product through which she made money was jewelry. Talking about her education, she attended Loyola University Chicago and majored in Communication.ĭuring college time, she started having an interest in jewelry and she even used to sell those. This was also one of the reasons which pushed Lori also to become an entrepreneur. Her parents never did a job instead they did their own business. Lori Greiner spent her early life in Chicago and they well well to do. In her early life, when she was nine years old her parents divorced and she started staying with her mother. Her father was a real estate developer and her mother was a Psychologist. She spent her childhood with her parents in a friendly environment. Annual revenue is $5 million.Her nationality is American and her ethnicity is Caucasian. As of April, 2022, she still sells in salons and online on her website and Amazon. She created a brand new category: high-end, kids hair care products. Hot Tot is now officially Hypoallergenic! Megan was approached by many people wanting to distribute her product, but she’s opting to stick with her strategy of slow growth and distributing through top tier, luxury hair salons. Megan and Mark did the deal and did the allergy testing for the product. Shark Tank Blog interviewed Megan Gage for a Shark Tank update. Megan does the deal with Mark and is visibly overjoyed. Daymond claims his Paul Mitchell connection would make him a better partner, but he goes out too. Robert wouldn’t offer as much as Mark, so he’s out. Mark likes Megan and the product he offers $75K for 40% and says the first thing they should do is testing so they can label the product hypoallergenic. Lori doesn’t like the packaging and thinks it’s too early she’s out. Kevin doesn’t think anybody cares about kids hair care (he should NOT be giving hair care advice), so he’s out. She tells the Sharks her product is better than every other kids hair care product out there. She was seeking $50k for a 15% share in the business. Megan came into the Shark tank with a relatively new business (15 months) and $20K in sales. Megan Gage believes she should teach her children by example. HotTot also aims to be a socially responsible company that gives a “sizable portion” of its proceeds to charity. She didn’t want a bunch of chemicals in her kids’ hair, so, along with her husband, she developed a line of hair care products with safe and natural ingredients. Megan created Hot Tot when she became concerned about harmful chemicals and artificial scents in the majority of kids’ hair care products on the market. Hot Tot entrepreneur Megan Gage brings her kids’ hair care products to the Shark Tank in episode 412.
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