psi bands acupressure wrist bands for nausea relief

#Psi bands acupressure wrist bands for nausea relief update

Landing these accounts has been a difficult but highly gratifying process. Psi Bands are sold at more than 13,000 retailers, including CVS, Rite Aid, Babies “R” Us, REI, Whole Foods, etc. nausea relief, creating jobs for others), personal satisfaction in a job well done (landing a new account, press features), and/or meeting financial objectives.īringing a product to market that makes a measurable improvement in the lives of those who suffer from nausea is, by far, the most rewarding part of my business. It usually is a combination of factors, including providing for others’ well being (i.e. The ability to feel good about what I am doing which comes in many shapes and sizes. Award-winning Psi Bands are acupressure wrist bands for the relief of nausea due to morning sickness, motion sickness, anesthesia, and chemotherapy. She set out to create something more for those who suffer from nausea.

She found nausea relief through acupressure wrist bands but was dissatisfied with existing products on the market that were drab and uncomfortable. Romy suffered from debilitating morning sickness during both of her pregnancies. Annual sales are estimated around $5 million.Business Name: Psi Bands, a maker of nausea prevention bandsīusiness Location: Pacific Grove, California, United States Products are also available on the Psi Bands website, and on Amazon. We have fantastic news to share in our Psi Bands update! As of 2023, Psi Bands are available in many major retail locations including CVS, Walgreens, Target, and more.

#Psi bands acupressure wrist bands for nausea relief update

What happened next for Romy? Keep reading our Psi Bands update to find out! With that, Kevin was out and the pitch was over. When Kevin asked if she wanted to counter, she said they were too far apart. He offered $250,000 for 40% equity– an offer that Mark immediately urged her to take– but Romy turned it down outright. Kevin O’Leary remained the last shark standing, and he was interested. Mark, known for his skepticism toward products making medical claims, was the next shark to drop out. Robert too had a major problem with the claim, and was the next shark to go out. Daymond, couldn’t get past her claim that the business was profitable since she carried debt. Romy unflinchingly confirmed this for Robert, and with this revelation, Barbara went out. He wanted to confirm that Romy intended to pay herself for work she did years ago to make up for the early, less profitable stages of the business. Robert could not contain his shock yet again and asked for a clarification. As the sharks reacted, Romy urged them to consider that this $600,000 included “past deferred salaries” from previous years.

Daymond John asked if Psi Bands had any debt, and Romy confirmed that they carried $600,000 in debt. Romy replied that it went to overhead, bookkeeping, rent, and utilities, but the sharks still sensed there was something amiss.

By the numbers, Romy should have made $600,000 on the $1 million in sales and, after subtracting the $110,000 net profit and $100,000 salary, there was $400,000 unaccounted for. Robert asked about her margins, discovering that she was collecting 60% gross margin. She asked if Romy collected a salary, and she confirmed that she did in fact collect $100,000 annually to reward her hard work. Robert pointed out that it was low, but Romy disagreed. Barbara Corcoran began the investigation to determine why the profit was so low. The sharks were impressed until Romy followed it up with the fact that Psi Bands only netted 11% profit. Romy rebutted that there have been clinical studies to show the efficacy of acupressure in nausea relief, remaining very careful not to say outright that it will cure everyone’s nausea. Robert moved on to the numbers, learning that Psi Bands had been selling since 2007, and sold over $1 million in the past twelve months.