A nail salon exclusively for men? While the Shark Tank investors didn’t think the idea would fly, fortunately for screenwriter/entrepreneur Michael Elliot, other folks with money watching the show did. So while he failed to impress the Sharks, his company’s exposure on the show netted him a group of investors willing to put up some cash.
Black Enterprise reports:
Michael Elliot, a Hollywood screenwriter-turned-entrepreneur who wrote Brown Sugar and Just Wright, saw a need for a nail shop that caters to entrepreneurs, athletes, mechanics, and men who take proper care of their appearance and hygiene. So he created a first-of-its-kind environment that was welcoming to all men. Oversized leather chairs, flat-screen TVs, dark woods, dim lighting, and sips of whiskey are what you’ll find at Elliot’s Hammer & Nails, the Nail Shop for Guys, located on Melrose Avenue in Los Angeles.
The male-centric salon, which opened in 2013, cost $250,000 for the build-out. With a price tag ranging from $23 for a basic manicure to $120 for a milk-and-honey soak experience, Hammer & Nails made $150,000 in sales revenue the first seven months in business. It is on target to generate $2 million in revenues for 2016, with a staff of nine at the shop on Melrose and five employees at the Hammer & Nails Salon Group corporate office.
Coming to the realization that there was considerable interest in a nail salon for men, Elliot wanted to franchise his concept to grow the business. Franchising is a popular business model that has proven to be a successful expansion strategy, delivering rapid growth. Stellar examples include McDonald’s and Coca-Cola.
To raise capital for his expansion, Elliot auditioned for ABC’s hit reality competition show, Shark Tank. Hammer & Nails was featured on Season 6. The episode aired Sept. 26, 2014, the most-watched season premiere in the show’s history. Elliot was seeking a $200,000 investment in return for 20% equity to help franchise his brand. He began his pitch by explaining that the shop was designed to appeal to men who would never enter a traditional nail salon. It wasn’t the service that was making men so uncomfortable, it was the salons themselves because they were designed to appeal to women.
Elliot didn’t get a deal. In fact, he recalls, “Mr. Wonderful (Kevin O’Leary) said, “it will never work.” He did get priceless exposure for the Hammer & Nails brand, concept, and plans for franchising. He did raise $200,000 from eight viewers of the episode, two of whom are African-American female angel investors. He did get flooded on his website and e-mail inbox with thousands of names of people expressing interest in franchising opportunities.
Since then, Black Enterprise reports that Elliot has sold 183 franchise licenses in eight states, with the first of six franchises set to open in Miami in December.
PHOTO: Hammer And Nails
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This Week’s Celebrity Instagrams (10/15-10/21)
31 photos Launch gallery
1. Just a NY girl with BIG dreams....
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2. HAPPY CHILDREN=QUALITY PARENTING. We don't always see eye to eye on everything and that's normal. We're human beings. But we come together and do it right for what's important, the kids. We are not enemies, we are parents. And we are parents 1st. S/O to @monyettashaw for making Mason's bday memorable. S/O to @itscrystalsmith at home taking care of our other lil' Prince. ❤️❤️❤️ THIS IS WHAT CO-PARENTING LOOKS LIKE. #Blessed #Happy #AboveTheDrama #BiggerThanUs
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3. So happy to finally be able to share with you all that I’m the new Global Brand Ambassador for @Revlon! Follow my day on RevlonSnaps. Yay! Choose Love, Everybody! #RevlonXCiara #chooselove #ad
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4. Glam on point!!!@makeupbymotoko & @shaylinjoneshair #easybreezy @lifetimetv #beachesmovie #january2017 😘
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5. ✨True love ✨📸: @jessiemarrerophotography
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7. Today was not easy..but by the grace of God we all got through it. Words cannot express our gratitude for all of your Prayers, Positive thoughts and Support for us throughout the years. Tommy will be missed but most certainly never forgotten...And PLEASE don't ask "Where's Martin?.." he was there too...just not in this picture. Lol! God bless you all.. #LoveConquersAll #MartinShow
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9. West coast get ready for #RockyHorror. I will be live tweeting again. #letsdothetimewarpagain
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10. #THEKEYS pre order yours now ... Available everywhere #NOV22 #WeTheBest 🔑🔑🔑🔑🔑🔑🔑🔑🔑🔑🔑🔑🔑🔑🔑🔑🔑🔑🔑🔑
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11. We about to ROCK at #KCABlackBall!! All for our life-changing effort to end 🌎 AIDS.
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12. Today's #SNAPJACK is brought to you by @yazzthegreatest 😂😂😂💋💋💋
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13. Damn girl you kinda old to be headed to the Go Go. You coming in at the age they leaving. LMAO
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14. Daddy daycare B-Boxin with @acewellstucker @shopraisingace
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15. #FBF Naviyd & URV "LIL MONSTERS"
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16. HAPPY BIRTHDAY TO ONE OF THE BIGGEST LEGENDS IN OUR HIPHOP HISTORY! @snoopdogg CONTINUED BLESSING AND LOVE FAMILY!!!!! REAL OG!
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17. Thank you for a beautiful night VSU! Let's do it again! #HOMECOMING
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18. Had a great time this morning with my familia Erica, Griff & Truth!!
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19. Check out my interview on @essence facebook live. #inmyownwords #nycpromo #day2
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20. #She💋 #tbt #TheCoveAtTheAtlantis #DawgPawsAndAll
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21. Bae #retailtherapy
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22. Why me and @coryhardrict got the same pose... and notee... new mouth #naked
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23. When my husband is my personal 'hype-man'! it kills me every time! 💜😂 #WHATNOW #lostfiles📷
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24. Diggy Simmons
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25. Hand full of @jacquieaiche 💙💎💍 @esnail_la 💅🏾
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26. SuperSoulers! You can watch my interview with Carl Lentz live from my Facebook page, tomorrow at 11a ET| 8a PT. #SuperSoulSunday
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27. 💋 .. When the friendship is easy like Sunday morning. ☀️
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28. Sunday mornings are the best........... hugs and cuddles with my angel
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29. #huggar16 #hellohuggars
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30. My gym is everywhere!.. #RnBMoney #TheGeneral 📸: @twelvepastseven
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31. Nothing I would rather be doing... Rocko setting up our movie, Romelō working on a puzzle & Laiyah singing and sharing all she's learning at school... I'm so grateful for the joy they've brought into my life ... Praying for peace , joy & love in the home of EVERY family ♥️ #HeadScarfPJSunday LOL 😂
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