Hear the pitch from Lauren Pascal, founder of Lolo's Bonnets, a twist on hair care that supports your locks while you sleep. Will the investors make a deal?
Every contestant who has the guts to appear on Entrepreneur Elevator Pitch is just 60 seconds away from a rise to greatness or a fall from glory. By the end of these nerve-wracking episodes, some entrepreneurs will walk away with game-changing investments, and some will go home empty-handed.
Every contestant who has the guts to appear on Entrepreneur Elevator Pitch is just 60 seconds away from a rise to greatness or a fall from glory. By the end of these nerve-wracking episodes, some entrepreneurs will walk away with game-changing investments, and some will go home empty-handed.
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00:00Welcome to the elevator.
00:03Hi, I'm Lolo, the CEO of Lolo's Bonnets,
00:05native bonnet Lolo's on it, and believe it or not,
00:07my hair used to be about this big.
00:09How did I achieve such long, healthy hair?
00:11Quality satin bonnets.
00:12My customers and I have dealt with every hair care problem
00:14in the book, from dry and brittle hair,
00:16hair thinning, hair loss, and the list goes on.
00:18Instead of being reactive by only repairing damage
00:20after it's done, my bonnets are proactive
00:22by protecting your hair before the damage even begins.
00:2593% of women don't like their hair,
00:27and 85% of men have hair-related issues,
00:29so I decided to do something about it.
00:31Since starting my business,
00:32I have made over $160,000 in sales,
00:34helped thousands of people get the hair of their dreams,
00:37and also organically grew my social media following
00:40across all social media platforms to 160,000 followers.
00:44Today I am asking for $200,000 for 10% of my company
00:47at a $2.5 million cap.
00:50Number one, great success on her social media,
00:54on her organic growth, but it seems like
00:57I'm not actually sure what the product is.
00:59I think it sounds like a fun business,
01:00and obviously she's passionate about it,
01:02but yeah, I don't think it really excites me.
01:05It's one of the things that I look at
01:06is not just the entrepreneur and not just what's happening,
01:09but what is the opportunity?
01:11And I can't really get a sense
01:13of what the opportunity is here.
01:15Let's put it to a vote.
01:16Are you guys ready?
01:17Absolutely, yeah.
01:19♪
01:24Attention, Lauren.
01:27Your pitch
01:29has been
01:34denied.
01:36Okay.
01:38I feel disappointed right now.
01:39I was really looking forward to making connections
01:41with the investors, talking to them,
01:43even if I didn't get an investment,
01:44just getting their feedback.
01:46Every rejection is just a redirection.
01:48Everything will come back full circle.
01:50You're going to have to hear no a few times,
01:51and you're going to have to get used to how that feels.