Entrepreneur Iris Smit, 24, reveals how she has earned $ 3.2 million in a MONTH selling Beauty Fridges
An entrepreneur who has turned down a $ 300,000 Shark Tank offer to launch her own $ 10 million empire has invented a very unique cosmetics gadget that will conquer the beauty world.
Iris Smit from Perth has developed her own line Beauty refrigerators after she noticed a growing trend that women stored skincare products in their kitchen fridges.
The 24-year-old – who sits behind The Quick Flick's millions-dollar beauty empire – said the mini-cosmetics fridge with hot or cold temperature settings is designed to keep skin care products fresh for longer and to extend shelf life.
And within a month since its launch on June 30, it has sold 25,000 units. Iris sells for $ 129.99 per refrigerator, an estimated $ 3.2 million.
Iris Smit, from Perth, has developed her own line of Beauty Fridges after seeing a growing trend of women storing skin care products in their kitchen fridges
The 24-year-old – who is behind The Million Dollar's beauty empire – invented this for those who would like to chill their skincare
What are the benefits of storing products in the Beauty Fridge?
Storing your makeup products in Beauty Fridge prevents oxidation because most makeup products contain oil.
By keeping them cool, they can also prevent them from becoming rancid and they are also protected against the growth of bacteria.
& # 39; I asked a few customers why they can't just keep their cosmetics and skincare products in their regular kitchen refrigerators & # 39 ;, she told Daily Mail Australia.
& # 39; Storing your products in a normal kitchen refrigerator can even be harmful. Some kitchen refrigerators can reach temperatures below 0C that can freeze or kill the active ingredients in skin care.
& # 39; Beauty Fridge keeps your skin care at a constant moderate temperature level of 4 ° C, which means you don't have to worry about the well-being of your skin care products. & # 39;
The idea of starting the new range came to me when she saw that more and more people were changing bar fridges into a cosmetic store for beauty products.
& # 39; Beauty Fridge originated from an idea I had at the end of last year when I noticed an increased trend in storing skin care products in regular kitchen fridges, & # 39; she said.
& # 39; Then I saw a gap in the market for a beautifully designed and packaged Beauty Fridge, specially designed to keep skin care and cosmetics at the right temperature.
& # 39; Beauty Fridge was born from my desire for a nice addition to a bathroom or bedroom, and a desire to focus on skin care as a moment of self-care.
& # 39; It has a hot or cold function, allowing the refrigerator to be cooled to 4 ° C for product storage, or heated to 60 ° C – perfect for heating washcloths for facial treatment at home. & # 39;
The 24-year-old said the mini-cosmetics refrigerator with hot or cold temperature settings is designed to keep skin care products fresh for longer and to extend shelf life
Iris said that storing beauty products in warm environments or even at room temperature can shorten shelf life and increase bacterial growth
With tens of thousands of beauty products coming on the market every year, Iris said that cooling cosmetics such as creams or face masks offers many benefits.
"With beauty lovers tending to products with fewer preservatives and shorter shelf life, and even do-it-yourself face masks and other skin care products, cooling products can help extend the shelf life of a product and reduce bacterial growth," she said.
& # 39; If you like skin care, it is important to save it correctly to ensure that you get value for your money.
& # 39; Cooling products can also offer therapeutic benefits with chilled face masks or creams that are known to soothe the skin, puff the skin and narrow the pores and have a calming effect on irritated or burned skin. & # 39;
Iris said that storing beauty products in warm environments or even at room temperature can shorten shelf life and increase bacterial growth.
& # 39; The use of products harboring bacteria can cause skin irritations and pimples in the form of pimples, & # 39; she said.
& # 39; If you do not store a product that contains active ingredients such as vitamin C, this may lead to oxidation and changes to the formula, which may decrease the efficiency of the product. & # 39;
Iris first entered the beauty world after launching her brand The Quick Flick last year
Iris first entered the beauty world after launching her brand The fast film, which offers women an easier way to stamp a perfect winged dot on your eyelids in just a few seconds & # 39 ;.
The young entrepreneur – who invested $ 10,000 of her own money in the brand – appeared in Shark Tank in her company for only three months last May.
The sharks were extremely interested in her $ 35 product, with Andrew Banks offering to invest $ 300,000 – a deal for 25 percent of her business.
But by the time she had to sign the contract, five months had passed, Iris realized that her business was worth more than the offer.
& # 39; When the Shark Tank show was filmed, I was really active for about three months. It used to be, but in that phase I was already running $ 100,000 a month & # 39 ;, she told Daily Mail Australia.
& # 39; My company was rated $ 1 million by the sharks on the show, but by the time the show was broadcast in May, its rating had already tripled. I was not in the position where I really needed the $ 300,000.
& # 39; I was positive in the cash flow and I had already prepared many retail deals. The signing of the deal would also have prevented me from starting other brands, such as Beauty Fridge.
& # 39; I had so many ideas for other products and brands, I didn't want to limit my career and lock myself up. Despite the fact that so many friends and family put pressure on me to sign the deal, the thought frightened me.
& # 39; I always trust my feeling, so I knew it wasn't right. & # 39;
Iris first entered the beauty world after launching her The Quick Flick brand
The five common mistakes that people make when starting a business
1. Hiring a good friend or family member: Your company deserves someone with relevant and strong skills, not someone you like to hang out with.
2. Think that you can do it all yourself: Putting your fingers into all elements of your business will not only burn you up, it will lead to shortcuts and sloppy results.
3. A & # 39; boss & # 39; for your team instead of a role model: Never underestimate the power of empowering people. Happy people perform better than miserable.
4. Thinking people will not take you seriously because of your age: Age does not matter, implementation does.
5. Do not read contracts: Before signing, make sure you have checked with a fine comb. Also make sure that you have your own contracts where necessary, especially with employees.
The winged eyeliner queen went out alone and within 12 months she turned over $ 10 million dollars.
& # 39; I never thought The Quick Flick would blow up like after the Shark Tank show. The publicity we received was invaluable & she said.
& # 39; I really believe that the company grew from one day to the next which other companies would grow in a few years. It was absolutely tough and I had to implement procedures fairly quickly to ensure that we could keep up with the demand. & # 39;
With two million companies under her wing, Iris said she plans to expand by creating innovative beauty products that are & # 39; time-saving and require minimal skills & # 39 ;.
& # 39; I once had a message from a customer saying: "Everything you have is so easy and simple and it leaves me there … why have we done it wrong for so long!" I want to continue to create this response in every product we release & she said.
& # 39; I would like to release my own skin care line specially formulated with minimal preservatives and high-active ingredients, designed to be stored in your Beauty Fridge. & # 39;
For every young entrepreneur who would like to start his own business, Iris advised: & # 39; Be picky with whom you seek advice.
& # 39; Not everyone has good intentions for you, sometimes not even those in your immediate circles, & # 39; she said.
& # 39; I take people's feedback, but at the end of the day I still make my own decisions and do what I think is best for my brand, not what others think is best.
& # 39; Nobody knows your brand like you. & # 39;
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