357 Crowning Achievements: Shante & Lauren’s Trailblazing Journey in Wig Rental Category Design with Shante Frazier and Lauren Mitchell of WellCapped

On this episode of Christopher Lochhead: Follow Your Different, we have the pleasure of sitting down with two remarkable entrepreneurs, Shante Frazier and Lauren Mitchell, the co-founders of WellCapped. In our conversation, we delved into the origins of their groundbreaking service, the hurdles they've overcome, and their ambitious vision for the future of the beauty industry. Their journey is one of innovation, resilience, and a relentless pursuit of redefining beauty standards. You’re listening to Christopher Lochhead: Follow Your Different. We are the real dialogue podcast for people with a different mind. So get your mind in a different place, and hey ho, let’s go. WellCapped: The Genesis of a Game-Changer Shante and Lauren's venture, WellCapped, is akin to Rent the Runway, but for wigs and hair extensions. This novel concept was born from a simple suggestion by Shante's aunt and has since blossomed into a business that caters to a diverse clientele seeking quality and affordability. Their personal experiences and corporate backgrounds have fueled their mission to democratize high-end wigs and hair extensions, making them accessible to all. The beauty industry has seen a surge in the use of wigs and hair extensions, with technological advancements blurring the lines between natural and styled hair. Celebrities and influencers are challenging traditional beauty norms, and WellCapped is at the forefront of this shift, empowering customers to experiment with their looks without the hefty price tag. The Entrepreneurial Leap Shante recounts the poignant moment that transformed her hesitation into conviction. The idea of a rental service for wigs and hair extensions wasn't just a business opportunity; it was a chance to support individuals undergoing chemotherapy by offering free memberships and support—a testament to the personal significance of WellCapped. Transitioning from corporate America to entrepreneurship is no small feat. Shante and Lauren share their motivations and the challenges they faced along the way. "When you see your customers telling you how our company has changed their lives, it gives you the fuel that you need to keep going on the bad days.” – Lauren Mitchell of WellCapped Eventually, Lauren's layoff became a catalyst for her commitment to WellCapped, while Shante reflected on the naivety and learning curve of starting a new venture. The Journey of Fundraising and Resilience Raising funds for a startup is a daunting task, but Shante and Lauren's determination was unwavering. They focused on aligning with investors who shared their vision, rather than convincing skeptics. Their commitment to excellence and continuous improvement has been a driving force behind their success. Their participation in the Techstars program marked a pivotal chapter for WellCapped. The intensive accelerator experience honed their brand and helped shift customer perceptions about renting wigs—a concept that is now gaining traction and acceptance. Shante emphasized the growing trend of viewing hair as a fashion accessory. WellCapped taps into this trend by offering a cost-effective way for consumers to express themselves through their hair, fostering a culture of experimentation and self-expression. To hear more from Shante & Lauren and how they raised WellCapped from the ground up, download and listen to this episode. Bio Shante Frazier Shante is a recent MBA graduate from NYU Stern, where she specialized in Marketing and Strategy. She graduated from Spelman College in 2012 with a BA in Economics. Prior to coming to Stern, Shante worked at Progressive Insurance for 3 years in the Pricing and Competitive Intelligence departments while also serving as an officer in the Ohio Army National Guard.