Shante Frazier and Lauren Mitchell are cousins and co-founders of WellCapped, a rental platform for hair extensions and wigs. The company allows women to rent wigs individually, with most listed at $72 for a two-week rental. Customers can also opt into its subscription program.
Per its website, WellCapped, the first subscription-based rental platform for hair extensions and wigs, offers first-tier, second-tier, and third-tier options. The first tier, valued at $102 per month, offers one wig per month and a starter kit containing a portable mannequin head, wig cap, edge brush, and a tote bag. The second tier, for $144 per month, includes two wigs per month, including the benefits mentioned in the first tier. The third tier is $220 per month for unlimited wig swaps, custom tinting, and free consultations.
“Everybody deserves luxury. You shouldn’t have to think, ‘Hey, I really wanted that wig that Victoria Monét had on, but it’s over $2,000. I’m never going to be able to afford it,’” Mitchell told Afrotech.
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“We try to replicate those same exact styles so we can make sure that that option is available for everyone, and not in a cheap way either… We make sure that we are still using the best of the best hair, but give it to you on a budget so that you’re not feeling like you have to break the bank just to feel confident.”
Frazier and Mitchell least anticipated becoming entrepreneurs, although they come from entrepreneurial homes. Prior to becoming an entrepreneur, Frazier worked as a consultant at PwC upon graduating from New York University in New York City, NY, with an MBA.
Her focus was to climb the corporate ladder and become a partner at the company. Mitchell, on the other hand, worked as a consultant at Deloitte for six years, followed by an additional year at Grant Thornton.
However, they both transitioned into entrepreneurship, influenced by Frazier’s opportunity to participate in a venture studio, a company that provides capital to launch startups.
The idea to start a hair extensions and wigs platform was first moved by Frazier’s aunt, and upon further deliberations, they decided to turn the idea into a venture that included an extensive sanitation process. Mitchell was then brought on board.
“I was not a fan of the idea at first, if I’m being completely transparent, but I knew that I wanted a business venture,” Frazier told Afrotech. “If I was going to go into entrepreneurship, I wanted a company that had a fragmented market, a lot of room for growth, and also an antiquated model. Hair hit all three of those qualifiers. So, I started mapping out what it would look like if I was to start a company that was a rental model for hair extensions and wigs, and I knew sanitization was going to be a big part of that. So I started envisioning what that would look like.”
WellCapped is the first venture capital-backed rental platform for wigs and hair extensions, according to Mitchell. “This means that we have the support of investors helping us build this company the right way,” she told VoyageATL.
Since starting the company in 2022, WellCapped has received $600,000 in funding.
“All of our wigs are glueless and pre-styled – meaning they arrive at your door pre-cut, pre-bleached, pre-EVERYTHING, and ready to wear! Once the wig is returned to us, we work with local stylists to handle the deep cleaning, sanitization, and restyling of the wig to make it new for the next customer,” Mitchell said.
