Calm Strips Make Millions From Anxiety Reducing Stickers
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Michael Malkin worked for 13 years at the Apple store. He found it was stressful, but rubbing a piece of carpenter tape on his thumb helped calm his anxiety.
He reached out to Luce Fuller and they created Calm Strips, a sticker with a textured surface that you could rub.
They started the company in early 2020 and crossed $2.5 million in sales in under two years.
The margins are also healthy. Back then they were charging $12.49 for a pack of five. The soft sand cost $1 to make, the river rock $2 per pack. Shipping was around $3. Return rate was also great at sub 1%.
They ended up going on Shark Tank asking for $250k for 10% of the business. Robert Herjavec closed a deal with them for $250k for $2.50 per unit until the $250k is paid off and then $1.50 per unit until they hit $750k.
Since then Calm Strips has expanded their skus and is now in more than 200 retail locations.
Biggest takeaway! 45 million Americans live with anxiety. This is a serious pain point and one people are willing to spend money on.
There’s money everywhere!
Sources:
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