Neo Innovations is a firm that uses Black Magic IPL to remove tattoos uniquely.
Kevin Mack, a nearby tattoo parlor owner, saw a growing need for tattoo removal services and teamed up with Nick Gonzales to create the company.
The first time IPL was used for tattoo removal was by Nicholas and Kevin.
They could expand their firm carefully before appearing on Shark Tank since their FDA-approved process permitted them to do so.
In just over a year, they could sell the goods on Amazon and generate a sizable amount of revenue.
They needed money to have their product approved by the FDA. They asked for a spot on Shark Tank and were accepted for season four.
What Are Neo Innovations?
Neo Innovations is a firm that has been developing magnetic light technology since 2010 that allows them to offer affordable tattoo removal services.
Kevin Mack joined the company in 2011 as its marketing director and is now its Vice President.
Their business strategy was developed with the help of a consulting firm comprised of plastic surgeons, attorneys, and investors.
They founded a company that provides safe, affordable products and exceptional customer service.
They have many videos on their website explaining how tattoo removal at home works and what you might realistically expect.
Do your homework before purchasing the Neo Mag Light; if you have a tattoo, you want to remove it or think about getting one removed.
|Company Name||Neo Innovations|
|Entrepreneur||Nick Gonzales And Kevin Mack|
|Product||Black Magic Tattoo Removal Device|
|Investment Asking For||$80,000 For 20% stake in Neo Innovation Black Magic Tattoo Removal Device|
|Final Deal||No Deal|
|Episode||Season 4 Episode 18|
|Business Status||In Business|
Who Is The Founder Of Neo Innovations?
Nick Gonzales and Kevin Mack founded Neo Innovations Tattoo Removal. They use a machine called Black Magic IPL that eliminates tattoo pigments.
Unlike laser treatments, their technology removes tattoos for a fraction of the price.
Neo Innovations Before Shark Tank
Kevin Mack and Nick Gonzales, the inventors of Neo Mag Light, appeared on Shark Tank episode 420 to present their hand-held, at-home tattoo removal technology.
The device is an inexpensive alternative to more expensive laser tattoo removal. Nick developed the product to help people who want to remove a tattoo but cannot afford the hundreds of dollars required for laser removal.
For now, the tattoo removal product is called Black Magic Tattoo Removal. Initially, ex-convicts with prison tattoos were the inspiration because their amateur prison tattoos prevented them from finding employment.
It was affordable for them to use Gonsales’s Neo Mag Light / Black Magic Tattoo Removal equipment.
The device functions like a more expensive halogen and laser system with a one-year money-back guarantee, yet it costs only $249.00. Several therapies claim to fade tattoos over a few weeks.
How Was The Shark Tank Pitch Of Neo Innovations?
Nick and Kevin Mack appeared on Shark Tank requesting an investment of $80,000 for a 20% stake in Neo Innovation’s Blag Magic Tattoo Removal Device.
For starters, Nick outlined the troubling fact that 50% of all tattoos are later removed by the same people who wanted them in the first place.
They created a laser treatment that breaks the tattoo less painfully than traditional tattoo removal methods, thus solving the difficult and expensive process.
It takes a few weeks for a person to become aware of a reduction in the size of their tattoo.
A tattoo Kevin had erased weeks earlier was displayed to Robert, who was astounded at how quickly it could be done in just one session.
Nick and Kevin finished their presentation with two balloons, one depicting the removal of a tattoo from beneath the skin the other representing the removal from the skin’s surface, similar to their product.
White balloons didn’t pop because they didn’t have pigment to gather energy from pulsating light; black balloons popped almost instantly because they had pigments to capture light energy!
Kevin O’Leary is concerned whether or not the average person will understand and use this product?
It’s safe to use at home because their equipment doesn’t penetrate the skin’s outer layers in a follow-up phone interview.
The IPL light has been available for some time, but many people don’t realize it can be used to remove tattoos.
O’Leary was interested in the stats, and Macks said they’d sold about a dozen thousand units in one and a half years, and they retail for about $139-$300 per.
This year, Nick predicted that the company would have made $200,000 in sales.
Kevin Mack and Nick Mack assured Robert he could apply the product on himself without assistance and that a tattoo of significant size could most likely be removed in one session if the person was healthy.
The FDA would have approved the procedure. Nick and Zac would have to spend between $20,000 and $100,000 to get their product approved. It wasn’t enough to prevent Barbara from walking out, so she did it anyway.
Mark was enthusiastic about the concept but expressed some trepidation about the proposal due to his experience with lawsuits for “the weirdest things.” Afraid of increasing the number of lawsuits he is likely to receive by having this product in his portfolio, he went out.
Mark responded to Nick’s defense by saying that even if the science behind the product weren’t new, it wouldn’t impact its safety or Mark’s legal liability.
Robert also decided to go out as Mark was apprehensive. Kevin admired the company, but Mark convinced him to leave.
Nick and Kevin Mack heavily marketed this product’s safety features, including being simple to turn off. In the end, this didn’t persuade Daymond, and he, too, left for the same concern as other Sharks.
Final Deal: No Deal between Sharks and Neo Innovations Black Magic Tattoo Removal Device.
What Happened To Neo Innovations After Shark Tank?
Neo Mag Light tattoo removal was not an option for the Sharks due to concerns about its safety.
It appears that sales are robust enough for the company to maintain a website, so Gonzales and Mack went ahead and put up their site.
The product’s efficacy has received a mixed bag of reviews. Blistering and scorching are common complaints from users, and some consumers deny that the product had any impact on their ink.
Several people claim that the device is a godsend because it has erased all their tattoos.
The Sharks were likely to be cautious because the FDA has not yet approved any at-home tattoo removal products.
Whether or not the system works for a certain consumer is up to them to determine for their own. Buyer beware may be in order here.
There are no more products available for purchase on Amazon as of February 2022; they are all “out of stock” on its website. The company’s social media pages, too, are a gloomy place. This business appears to be on its last legs.
Neo Innovations Shark Tank Update
Black Magic IPL is still available for purchase from Neo Innovations, despite the company’s lack of a deal.
However, the company hasn’t grown much as the product is no longer available on Amazon or in any retail outlets.
The Sharks were impressed with Nick and Kevin Mack’s business and the advantages of their product, but they were unconvinced about the product’s safety.
However, even if they had a better track record, the Sharks are still unlikely to invest due to lawsuits.
The lesson here is that future entrepreneurs should emphasize investor safety concerns as a key concern.
These issues should be addressed in advance, with examples demonstrating that the risks are minimal and the benefits exceed them.
Are Neo Innovations Still In Business?
After Shark Tank, Neo Innovations received a lot of bad press. As a result, they developed a new patented model with lesser power, which plastic surgeon Dr. Debartolo is testing in clinics.
Amazon and the company’s website both sell the new item for about $160.
Neo Innovations needed to file a new design patent application before appearing on the show.
The new design, on the other hand, is fantastic! This product was tested by Dr. Debartolo, a world-renowned plastic surgeon. In his Chicago clinics, he put our products through their paces.
As a result, he was so impressed by the new design’s efficacy that he joined us in writing our patent.
Neo Innovations is still in business as of 2022 despite not getting any deal from the Shark Tank show.