“Publicity gold”: Skincare company Boring Without You secures first Shank Tank deal

Aspiring entrepreneurs sank their teeth into their pitches for the fifth season of Shark Tank on Tuesday night, with the founder of Aussie skincare brand Boring Without You Davey Rooney first up in the tank as he came face-to-face with five brand new powerhouse sharks.

The Boring Without You founder was the first entrepreneur to enter the ring and face the sharks, where he received a feeding frenzy of offers from four of the five sharks, which included Oodie founder Davie Fogarty, online fashion boutique Showpo CEO and founder Jane Lu, Shark Tank US regular Robert Herjavec and marketing agency King Kong founder Sabri Suby.

“The stakes are massive,” Rooney said just before he took the lift to kick off his pitch to the powerhouse panel.

Rooney said Boring Without You is the only skincare brand dedicated to people with combination skin. 

“During COVID lockdown, I would go for socially distanced walks in the park,” he told the panel of sharks. 

“Following one of these walks, I went to Chemist Warehouse and saw skincare brands for oily skin, skincare brands for dry skin and even skincare brands for sensitive skin. 

“At the time, I was studying cosmetic science, and one of the first things I learnt is, if you have combination skin, different parts of your face behave differently. One part oily, one part dry.

“It makes choosing the right skincare, applying make-up and treating blemishes very difficult.

“There is no dedicated brand to this skin type.

“Until now.

“Sharks, you don’t need a million products, but the ones you use should be made for your skin type.”

Rooney told the panel that he was seeking $36,000 for a 20% stake in Boring Without You, with Oodie shark Davie Fogarty initially offering $36,000 for 30% equity as offers from the other sharks rolled in.

Fogarty then offered $50,000 for 20% equity “if Rooney said yes right now”, which Rooney instantly snapped up.

Rooney told SmartCompany that the opportunity to be the first into the tank was an incredible experience with a fantastic outcome. 

“I left the tank with more money than I asked for and landed a deal with the Shark I wanted all along,” he said. 

“Going into it, I ensured I knew the answer to every possible question they could ask, and it paid off. 

“I was able to handle anything they threw my way. I know Boring Without You will be a massive success, but to see the Sharks believing it, too, was a dream come true.”

The skincare brand was launched nine months ago with its hero product, For Face’s Sake, a multi-mask with two formulas in one jar. Rooney told the panel during his pitch that the brand had done $115,000 in revenue in the last nine months.

Herjavec also asked Rooney to tell him the skincare brand’s monthly sales each month for the last three months, with Rooney replying that the quarter-on-quarter figures were: $4,500, $11,500, $26,500 and $55,000.

Rooney said the brand wants to build the product range and then look at retail opportunities.

“Having additional products will allow us to better serve combo skin pals with products made just for them, and retail is king when it comes to skincare,” he said. 

“It offers accessibility and eyeballs like nothing else. Watch this space for some exciting products.”

Rooney said at the time of filming Shark Tank that Boring Without You was doing $50,000 per quarter with organic marketing only. 

“Since then, we’ve implemented a paid ads strategy and are doing six times what we used to. Following the episode airing, we’re projecting that this will increase a lot more,” he said. 

Rooney said Shark Tank is publicity gold. 

“We had the most web traffic we’ve ever had and sold a week’s worth of product in a couple of hours,” he said. 

“Plus, if you can land a deal with the right Shark, it can catapult your business to a whole new level.”