Makeup Junkie Bag Shark Tank Update | Makeup Junkie Bag after the Shark Tank Pitch
What is Makeup Junkie Bag?
The Makeup Junkie Bag is a cosmetic bag that lays flat, allowing for quick and complete access to all contents while minimizing the likelihood of the bag falling over and spilling items everywhere.
Makeup Junkie Bag bags are all handcrafted in Texas and are sold in over 2,000 stores nationwide.
The Makeup Junkie Bag is available in four different sizes: mini, small, medium, and large, and in a variety of colours and designs, including Bordeaux Velvet, Slate Geometric, Fiesta Floral, Holographic Gator, and Two-Faced Bridal.
Apart from cosmetic bags, the firm also sells totes, backpacks, crossbody bags, and more, as well as a limited selection of cosmetics and clothes under the Makeup Junkie brand.
Meredith Jurica launched the firm in January 2017.
Meredith has kept her personal and professional lives quite private.
Prior to venturing into entrepreneurship, she said that she earned a master’s degree in speech language pathology from Texas Woman’s University.
She continues to serve as Chief Executive Officer of Makeup Junkie Bags, which is headquartered in Houston.
Who Founded Makeup Junkie Bag?
Meredith Jurica is the founder of Makeup Junkie Bag?
What happen to Makeup Junkie Bag at the Shark Tank Pitch?
They are adored by the ladies who possess them. Some people use it as a makeup bag, while others use it as a night out clutch handbag.
It can accommodate makeup, as well as a cell phone and a few other essentials.
Makeup Junkie Bag’s design and logo are both copyrighted and registered.
The bags are available in a range of colours and patterns and retail for around $32 apiece.
While Makeup Junkie Bags are available for purchase on Amazon and the company website, MJ is actively seeking wholesale clients.
Meredith enters the firm demanding $200,000 for a 15% stake. This equates to a $1,333,333.33 value.
Meredith reveals that she is debt-free and has generated $1.5 million in sales over the previous year and a half after launching the product and handing out samples.
She wants a Shark so she can increase output from the 6,000 bags per month she now produces.
There are three offers from the Sharks;
The first is a $200,000 loan from Lori in exchange for a 5% plus a $1 royalty per bag in perpetuity.
Kevin then offers $200,000 in exchange for a 3% royalty plus a $1.50 fee every bag, up to a total of $750,000.
Sara offers $200,000 in exchange for a $1 royalty on each bag sold until the debt is repaid.
Lori’s offer is accepted by Meredith when Lori agrees to reduce the fee to 0.75 percent each bag.
Makeup Junkie Bag after the Shark Tank Pitch
Lori’s contract was never completed.
Lori apparently desired to produce elsewhere, but Meredith desired to maintain her company in Texas.
Meredith’s goods will be available in over 2000 locations countrywide by June 2021. Annual revenues hover around $2 million.
Makeup Junkie Bag Net Worth
The Company net worth is estimated to be over $10 Million.
Makeup Junkie Bag Competitors
Makeup Junkie Bag FAQS
Who owns Makeup Junkie Bags?
Meredith Jurica founded Makeup Junkie Bags in her kitchen.
According to the self-proclaimed cosmetics obsessive, the idea came about when she was unable to locate a convenient makeup bag.
Her designs are resistant to wet, lay flat, and are roomy. “This one carries twenty cosmetics,” Jurica explains.
Can they wash Makeup Junkie Bags?
They’ve all soiled their bags with cosmetics, perfume, and granola bars.
With the washable inside of Makeup Junkie Bags, all they have to do is go down in there with a damp cloth and clean the bag out.
There will be no stranger crumb kingdom inhabiting their favourite item.
Where are Makeup Junkie Bags manufactured?
Makeup Junkie Bags are handcrafted in Texas and sold in over 2,000 locations worldwide. They are available in over 400 fashionable designs and seven distinct sizes.
When did cosmetics addict make an appearance on Shark Tank?
Meredith Jurica of Willis, Texas invented Makeup Junkie Bags, a collection of lay-flat cosmetic and travel bags.
In January 2019, the businesswoman proposed her million-dollar venture on Shark Tank. She approached the Tank in search of a $200,000 investment in return for 15% equity.
What should they fill their Makeup Bag with?
Here are some suggestions for items to add in their beauty bag, but they can include whatever they choose.
Makeup, Makeup Remover, Lip Gloss/Chapstick, Nail Polish, Pedicure Set, Lotion, and Sunscreen are all included.
How do they clean make up from Makeup Bag?
Clean their cosmetics bag. If they are using one of their bags, just clean it with a soapy sponge and then a rubbing alcohol towel.
Allow to dry naturally. If they are using a cotton cosmetic bag, wash it in hot water to eliminate germs.
How often should they wash their Makeup Bag?
Maintain consistency. They recommend deep cleaning any cosmetic bag or wash bag that is regularly used once a month, followed by a weekly spritz of antibacterial spray, always ensuring the interior of the beauty bag is completely dry before zipping it back up.
Can they put Makeup Bags in the washing machine?
They may either hand wash or machine wash a cotton make-up bag.
Assure that it is air dried, since the heat from a tumble dryer may cause harm.
Finally, ensuring their bag is completely dry before reintroducing their makeup; otherwise, bacteria may spread.
What are weaknesses of Makeup Junkie Bag?
During her appearance on the ABC show, Meredith claimed that she was unable to produce as many bags as she needed to sell due to the high price of manufacturing materials.
What are Makeup Junkie Bag strengths?
Affordable, stylish and fun.
How do they make money?
According to the founder of Makeup Junkie Bags, they simply manufacture and sell the bags.
Where is Makeup Junkie Bag located?
They are located in Texas.
How long have they been in business?
Makeup Junkie Bag have been on business since January 2017.
How much does Makeup Junkie Bag costs?
The bags cost around $32 each.
How can they get a Makeup Junkie Bag?
They can purchase them at their website, as well as Amazon. They can also visit the company’s Facebook, Instagram and Twitter pages.
How to contact Makeup Junkie Bag?
They can be contacted via their Facebook, Instagram and Twitter pages, where they share pictures of their products and upcoming sales.
Various contact information is also available on the site.
What is net worth of Meredith Jurica?