Shark Tank contestant Meredith Jurica wowed the sharks and ended up with an offer from Lori Greiner. She was blown away by Jurica’s Makeup Junkie Bags and offered her a deal she couldn’t refuse.
Showbiz Cheat Sheet recently chatted with Jurica. She spoke to us about the road to Shark Tank and how she’s continuing to build her business.
How Meredith Jurica balances it all
Jurica is not only a businesswoman but also a mother of two small children. How does she manage it all? She tells us she relies on what she calls a time budget. She sets aside time for each part of her day so she can make sure she gets everything done while also taking good care of herself. Now, she feels like she has a better handle on her days.
“I used to not manage everything well, especially since I have two little girls,” Jurica tells Showbiz Cheat Sheet. “I was trying to fit in extracurricular activities for them and fulfill all of my duties at my job and take care of myself. I finally got to a place where I realized you have to stop and you have to pace yourself and you have to budget your time almost like you would budget your money.”
The road to ‘Shark Tank’
Jurica didn’t set out to become a business owner. The former speech pathologist says she made her makeup bags for personal use. She was looking for a solution to her problem of not being able to find makeup bags that were big enough for her beauty projects.
Jurica changed her mind and decided to apply for Shark Tank after watching the show and hearing they were looking for unique items. She had been making bags at home and made almost $1 million in sales in just the first year.
“I did the online application, and I never thought in a million years that I would get chosen because there were 40,000 people who applied and less than 100 of us made it on the show that season,” Jurica tells us.
Although things worked out for Jurica, she says there were obstacles she had to overcome before she could become a successful entrepreneur. Before making the switch to entrepreneurship, Jurica had to educate herself about operating a business.
For example, she says she had to learn the difference between wholesale and retail. At first, she was purchasing materials at full retail price from craft stores. She later learned she could significantly cut her costs by purchasing items in bulk at the wholesale price.
“One of my obstacles was not knowing things I needed to know, but I’m really good at self-teaching,” says Jurica. “I’ll find the holes in what I need to do and research how to do it or have someone teach me how.”
Jurica aspires to be like jewelry designer Kendra Scott within the next five years. She hopes to become a household name for travel bags. “I would love to be known as one of the highest-quality U.S.-based manufacturers,” says Jurica. “I hope to be known for our quality and by more people all over the world.”
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