Makeup entrepreneur, 24, reveals how she's made $3.2million in a MONTH after inventing a unique 'beauty fridge'
- Iris Smit launched the multi-million dollar beauty empire The Quick Flick
- The 24-year-old has invented a new cosmetics product called Beauty Fridge
- She noticed growing trend of women storing skincare products in kitchen fridge
- The entrepreneur launched new brand after she saw an opening in the market
- Within one month since launching, the young woman has sold 25,000 units
An entrepreneur who went from rejecting a $300,000 Shark Tank offer to launching her own $10million empire has invented a very unique cosmetics gadget that's set to take the beauty world by storm.
Iris Smit, from Perth, has developed her own line of Beauty Fridges after she noticed a growing trend of women storing skincare products in their kitchen fridges.
The 24-year-old - who's behind the multi-million dollar beauty empire The Quick Flick - said the mini cosmetics fridge with hot or cold temperature settings are designed to keep skincare products 'fresher for longer' and help extend the shelf life.
And within one month since launching on June 30, she has sold 25,000 units. Retailing for $129.99 per fridge, Iris has turned over an estimated $3.2million.
Iris Smit, from Perth, has developed her own line of Beauty Fridges after she noticed a growing trend of women storing skincare products in their kitchen fridges
The 24-year-old - who's behind the multi-million dollar beauty empire The Quick Flick - invented these for those who like to chill their skincare
'I've had a few customers ask why they can't simply store their cosmetics and skincare products in their regular kitchen fridge,' she told Daily Mail Australia.
'Storing your products in a normal, kitchen fridge can actually be detrimental. Some kitchen fridges can reach temperatures below 0C which can freeze or kill the active ingredients in skincare.
'Beauty Fridge maintains your skincare at a constant temperate of 4C, meaning you won't need to stress about your skincare products wellbeing.'
The idea to start the new range came to mind when she saw an increasing number of people turning bar fridges into a cosmetic storage for the beauty products.
'Beauty Fridge was born out of an idea I had late last year, when I noticed an increased trend in storing skincare products in regular kitchen fridges,' she said.
'This is when I saw a gap in the market for a beautifully designed and packaged Beauty Fridge, designed specifically to house skincare and cosmetics at the correct temperate.
'Beauty Fridge was born out of my desire for a beautiful addition to a bathroom or bedroom, and a desire to focus on skincare as a moment of self-care.
'It features a hot or cold function, allowing the fridge to cool to 4C for the storage of products, or heat up to 60C – perfect for warming face towels for an at-home facial.'
The 24-year-old said the mini cosmetics fridge with hot or cold temperature settings are designed to keep skincare products 'fresher for longer' and help extend the shelf life
Iris said storing beauty products in warm environments or even at room temperature may shorten the shelf life and increase bacteria growth
With tens of thousands of beauty products hitting the market every year, Iris said there were many benefits of refrigerating cosmetics such as creams or face masks.
'With beauty aficionados leaning towards products with fewer preservatives and a shorter shelf life, and even DIY-ing face masks and other skincare products, refrigerating products can help extend the shelf life of a product, and reduce bacteria growth,' she said.
'If you're splurging on skincare, its important to store it correctly to ensure you're getting your money's worth.
'Refrigerating products can also provide therapeutic benefits, with cooled face masks or creams known to calm, de-puff skin and tighten pores and provide a soothing effect to irritated or sunburned skin.'
Iris said storing beauty products in warm environments or even at room temperature may shorten the shelf life and increase bacteria growth.
'Using products that harbour bacteria can cause skin irritations and breakouts in the form of pimples,' she said.
'Failing to store any product that contains active ingredients such as Vitamin C may cause oxidation and formula changes, which could cause the efficiency of the product to decrease.'
Iris first found herself in the beauty world after she launch her brand The Quick Flick last year
Iris first found herself in the beauty world after she launch her brand The Quick Flick, which offers women an easier way of 'stamping' a perfect winged tip onto your lids in just seconds.
The young entrepreneur - who invested $10,000 of her own money into the brand - appeared on Shark Tank in May last year just three months into her business.
The sharks were hugely interested in her $35 product with Andrew Banks offering to invest $300,000 - a deal for 25 per cent of her company.
But by the time she had to sign the contract, five months had passed, Iris realised her business was worth more than the offer.
'When the Shark Tank show was filmed I had only really been in business for about three months. It was early days, however I was already turning over $100,000 a month by that stage,' she told Daily Mail Australia.
'My business was valued by the sharks on the show at $1 million, however by the time the show aired in May, its valuation had already tripled. I wasn't in the position where I really needed the $300,000.
'I was cash flow positive and I already had plenty of retail deals lined up. Signing the deal would have also restricted me from starting other brands such as Beauty Fridge.
'I had so many ideas for other products and brands, I didn't want to limit my career and lock myself in. Despite having so many friends and family pressuring me to sign the deal, the thought of it gave me anxiety.
'I always trust my gut, so I knew it wasn't right.'
Iris first found herself in the beauty world after she launch her brand The Quick Flick
The winged eye-liner queen went out on her own - and within 12 months, she turned over $10 million dollars.
'I didn't ever imagine that The Quick Flick would blow up like it did after the Shark Tank show. The publicity we received was invaluable,' she said.
'I honestly believe the company grew overnight what other businesses would grow in a few years. It was definitely tough and I had to put procedures in place pretty quickly to ensure we could keep up with the demand.'
With two multi-million businesses under her wing, Iris said she plans to expand by creating innovative beauty products that are 'time saving and require minimal skill'.
'I once had a customer message me saying "everything you guys have is so easy and simple and it leaves me standing there going… why have we been doing it wrong for so long!" I want to keep creating this reaction in every product we release,' she said.
'I'd love to release my own line of skincare that's specially formulated with minimal preservatives and high active ingredients, designed to be stored in your Beauty Fridge.'
For any young entrepreneur who's keen to start their own business, Iris advised: 'Be picky with who you take advice from.
'Not everyone has good intentions for you, sometimes not even those in your closest circles,' she said.
'I take on people's feedback, however still make my own decisions at the end of the day and do what I think is best for my brand, not what others think is best.
'Nobody knows your brand like you do.'
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