Naples skin care company seeks $5M for 2025 breakout.

When asked to select a single word that she wishes will characterize her 2025, Deanna Wallin responds without hesitation: preparedness.

The founder of Naples Soap Co., a publicly traded company valued at $12.3 million, offers a diverse range of health and wellness products for skin and hair, and has numerous reasons to be ready. While she had been prepared previously, the events of 2024 – including two significant storms, declining consumer confidence, inflation, and a turbulent political landscape – imparted a crucial lesson about the importance of remaining alert and ready for unforeseen circumstances. “Planning for anything has become our new normal,” Wallin states in a late November interview.

Being prepared does not always imply something negative. Wallin is gearing up for a significant move in 2025: expanding brand recognition beyond Florida and establishing boutiques throughout the Southeast. Although Naples Soap Co. products are available on Amazon and their own website, Wallin is striving for greater awareness. “Our goal is to establish ourselves as a national brand,” she states.

Naples Soap is pursuing this goal by raising additional capital; it aims to secure $5 million, as indicated in the Form C submitted to the Securities & Exchange Commission in August, according to a recent article by Mark Gordon of Business Observer.

The company, whose shares are traded on the over-the-counter market under the symbol NASO, issued an investor prospectus in the summer highlighting its plans for the funds. “The company states that it is concentrating on broadening its wholesale operations and improving its national e-commerce presence. We have developed new product lines specifically designed for major retailers, and we are especially enthusiastic about our soap and shampoo bars, which are exceptional highlights among our 600 offerings.”

Funding will also be allocated to research and development, as the company states it is “developing proprietary 3D plant stem cell products using NASA bioreactor technology.”

Competing with major players in the $110 billion global skin care industry undoubtedly presents a significant challenge. The company discusses this in the FAQs of its investor prospectus, stating that the NASA-licensed technology provides it with “a unique edge in anti-aging product development.” Additionally, our emphasis on gentle, effective remedies for sensitive skin distinguishes us in a market saturated with aggressive chemicals.

Wallin, the Distinguished Entrepreneur for 2024 at the Small Business Development Center at Florida Gulf Coast University, has previously triumphed over significant challenges.

Wallin, a nurse by profession, struggled with eczema and psoriasis for many years, a challenge she shared with her daughter. No products available in the market effectively addressed the issue. She developed her natural skin care line after extensive experimentation. In 2009, she launched her first store in a modest 300-square-foot location in Naples. The company currently operates 13 locations across Florida, spanning from the east coast to the Panhandle, with approximately half situated on the west coast.

The expansion of the store network has been accompanied by an increase in sales. The company anticipates sales between $15 million and $16 million in 2024, as stated in the investor prospectus, an increase from $12.3 million in 2023. However, this increase in revenue has not been without its drawbacks: According to its public filings, Naples Soap reported $1.96 million in short-term debt for its most recent fiscal year. The records indicate net income losses of -$955,133 and -$864,814 in the last two fiscal years.

Despite facing financial and other challenges – with hurricane season just five months away – Wallin remains resolute in her mission to elevate Naples Soap’s visibility. “With the election now behind us,” Wallin states, “we anticipate an improvement in consumer spending.”

Should any challenge arise, Wallin is resolute in his commitment to being better prepared than ever. “It’s not what happens to you,” she says, “it’s how you respond to it.”

This article originally appeared on Business Observer

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