When life gets too stressful, simply rubbing on a textured surface can calm you down. Michael Malkin invented Calm Strips, a tactile calming tool you can carry anywhere. After pitching it on Shark Tank, the founders got a deal with Robert Herjavec. Calm Strips is now worth $3 million based on the latest sales data.
Michael Malkin & Luce Fuller
Michael Malkin is from Newport News, Virginia, and studied English at Old Dominion University. Before launching Calm Strips, he worked in education and retail management, including time at Apple. It was through Apple that he met Luce Fuller, who later joined the business. Fuller also has retail management experience with brands such as Starbucks and COACH.
The Impact of Shark Tank
Calm Strips got a huge surge in orders once the episode aired. It appears the deal with Robert hasn’t closed yet as Calm Strips isn’t listed on his website under Shark Tank investments. Potentially the royalty aspect of the deal was too expensive.
Calm Strips have over 250,000 satisfied customers. The product is particularly popular in schools and used by teachers and students in over 5,000 schools. It also appeals to those with body-focused repetitive behaviors and autism. The brand’s products are carried in around 240+ retail stores.
The company’s annual revenue is just over $1 million with around $5 million in lifetime sales. Currently, Calm Strips is worth an estimated $3 million.
Several of their package deals have an average rating of 4 stars on Amazon. Some negative reviews highlighted that the strips lacked texture. They expanded their lineup with a “box breathing” set and custom Calm Strips, adding variety beyond the original packs.
You can purchase their products on CalmStrips.com, Amazon, Etsy, and some small independent retailers in the U.S. The business continues to expand and now has seven full-time employees.
How Calm Strips Started
While at Apple, Michael’s anxiety was often triggered by the busy environment. His way of coping was wrapping a carpenter’s tape around his finger and rubbing on it. It helped him calm down every time.
The idea was simple: create a discreet sensory tool that could help people stay grounded without carrying around a bulky fidget device. With that in mind, Malkin launched Calm Strips in 2020 and later brought in Luce Fuller to help grow the business.
They sold the products in packs of five, and customers could choose between the soft sand and river rock textures. Just after a year in business, the company had already done $2.5 million in sales.
Calm Strips on Shark Tank
Luce and Michael appeared on season 13, seeking $250,000 for a 10% equity stake. They made a strong start to the pitch and introduced their product with a short animation.
The pair revealed they have a low return rate and healthy margins. The Sharks were surprised by their lifetime sales. The business is making a boatload of cash! Despite strong sales, Calm Strips’ sales are seasonal as people are less stressed out in the Summer.
Robert was the first to make an offer but wanted 35% for $250,000, way too greedy! Of course, Kevin offered a royalty but wanted it in perpetuity. In the end, they went with Robert’s proposal of $250,000 for a $2.5 per unit royalty until he breaks even. Then, $1.5 per until he gets $750,000. A terrible deal, they agreed to borrow $250,000 and pay back $750,000.
