The Rise of Kobee’s: How Kobe Harris Turned a Bedroom Experiment into a Profitable Business
In 2019, Kobe Harris embarked on a journey that would change his life forever. What began as a simple experiment on his bedroom floor quickly evolved into Kobee’s, a thriving lip balm company based in Las Vegas. Harris, a student at Loyola University Chicago, was not initially seeking to abandon his college education. However, a remarkable day of sales would soon lead him to make that leap.
The Spark of Inspiration
The idea for Kobee’s was born out of Harris’s academic pursuits. While conducting research on sustainability and bees for a class project, he became intrigued by the potential of creating natural products. With a modest request for $200 from his mother, he purchased the necessary ingredients from Amazon and began experimenting with lip balm formulations. This creative endeavor took place during his summer job as a lifeguard, where he would mix and match ingredients on the floor of his bedroom, driven by a passion for sustainability and a desire to create something unique.
From Experimentation to Entrepreneurship
As the school year approached, Harris’s lip balm experiments began to bear fruit. He started making sales, and the success was overwhelming. One day, he sold an astonishing $15,000 worth of lip balm, a moment that solidified his decision to drop out of college and pursue his business full-time. With classes shifting online, Harris cleverly navigated his new reality, telling his father he was still enrolled while dedicating his time to crafting lip balms in the basement.
The Kobee’s Product Line
Today, Kobee’s offers a range of products that extend beyond lip balm. The company’s lineup includes lotions, lip scrubs, cuticle butter, and hand salves, all crafted from just four natural ingredients: beeswax, coconut oil, sunflower oil, and mango butter. This commitment to simplicity and sustainability is reflected in their compostable packaging, appealing to environmentally conscious consumers. Prices for Kobee’s products range from $5 to $42, making them accessible to a wide audience.
Financial Growth and Future Prospects
Kobee’s has quickly established itself as a profitable startup. As of the taping of his appearance on ABC’s "Shark Tank," Harris projected nearly $4 million in sales and approximately $750,000 in profit by the end of 2024. The company primarily sells its products through Amazon and its direct-to-consumer website, leveraging the power of e-commerce to reach a broader audience.
The Shark Tank Experience
Harris’s journey took a pivotal turn when he appeared on "Shark Tank," seeking a $300,000 investment in exchange for 6% equity in Kobee’s. His pitch aimed to secure mentorship and assistance with product distribution. However, the response from the investors was mixed. While some expressed doubts about the crowded natural lip balm market, Kevin O’Leary saw potential and offered the full investment but for a 20% stake.
Harris, confident in his vision and understanding of his business, countered with a request for 10%. After some negotiation, O’Leary proposed 15%, but Harris ultimately decided to walk away from the deal. This decision was rooted in a lesson he learned from his mother, a seasoned business owner: trust your instincts. Harris firmly believed that he knew his business better than anyone else, a sentiment echoed by many successful entrepreneurs.
The Importance of Gut Instincts
Harris’s experience on "Shark Tank" underscores a vital lesson in entrepreneurship: the importance of trusting your gut. Many successful leaders emphasize the value of intuition in decision-making, particularly when it comes to business. For Harris, this meant recognizing the worth of his company and the vision he had for its future. His journey from a college student experimenting with lip balm to a confident entrepreneur serves as an inspiring reminder of the power of passion, perseverance, and self-belief.
As Kobee’s continues to grow, Harris remains focused on his mission to create sustainable, high-quality products that resonate with consumers. His story is a testament to the entrepreneurial spirit and the potential that lies in following one’s passion, even when it means taking risks and stepping into the unknown.