Pets have become an important family member in almost every household. They have been taken to different occasions like parties and outdoor events. However, they have to be cared for a lot in order to feel them as a part of the family and to keep them safe.
Kelly Nova and Ilana Karcinski, the owners of Fairytale Pet Care, have introduced a convenient way to accompany your pet on your big day. On weddings, dogs are not brought to the event as the owner has to focus on his or her wedding and they are left behind. The Fairytale Pet Care company provides round-trip transportation, attire rentals, and coordinating them with your theme wedding.
The owners came on Shark Tank to request $75K in exchange for 10% in their company. They also brought different breeds of dog in cute attire to impress the judges with their work. Let’s see if they got the deal or not.
Fairytale Pet Care Net Worth Shark Tank Update
Kelly and Ilana were looking for an investment of $75K in exchange for 10% equity in the company. At the time of the episode, they valued their company at $750K. Kelly and Ilana successfully secured a deal with Barbara Corcoran for an investment of $75K for 22% equity in the company. The investment adjusted the company’s net worth to around $341K. After the show was aired, the company experienced a good boost in exposure. As per my rough estimate, the current net worth of Fairytale Pet Care in 2024 is around $1.2 million.
Shark(s) name
Offer & Demand
Counteroffer
Accepted?
Kevin O’Leary
$75K for 10% equity
$75K for 33.3% equity
No
Mark Cuban
Out
N\A
N\A
Lori Greiner
Out
N\A
N\A
Barbara Corcoran
$75K for 10% equity
$75K for 22% equity
Yes
Robert Herjavec
Out
N\A
N\A
The Owner’s Backstory
Kelly and Ilana have been best friends since they were 13 years old. After graduation, they started to work for a national hotel chain. Then they start to think about their career and after seeing their friends and people at hotels facing pet issues at weddings, they decide to provide the services.
The owners came on the show to seek $75K for a 10% equity stake. They offer services for pets to accompany them on their owner’s wedding day. They not only look after them but also give them a new look to make the owner and the pet feel special.
Queries about the Product
Herjavec asked the first question about their way of charging for their service. Kelly replied that their price range starts from a minimum of three hours duration. For that time duration, they charge $600 for one dog only and an additional $100 for every successive hour.
Kevin inquired about their way of customer acquisition. Ilana pointed out that they started their service in Tampa, Florida and their headquarters is also at that very location. Moreover, they stepped into a franchise just about a year ago.
She also added that they are up for a franchise in a region and they charge a $12,500 fee for it.
Herjavec wanted to know about the fees per wedding. The owner replied that it is about 9% royalties of gross sales.
Kelly highlighted that their official launch of the franchise was in 2022 and in the first year, they sold their 14 territories, which are based in four locations.
Lori asked about their own sales for last year. Ilana highlighted that it was about $123K in sales last year.
Corcoran asked about their margins. She pointed out that their margins are around 70%. Among the total revenues, $66K was from the Tampa territory and the extra revenues were from the surrounding counties. Kelly also highlighted that they have a great social media presence and following especially on TikTok.
Herjavec wanted to know about their all-time oldest franchisee. She pointed out that their first franchisee was Las Vegas and their high-performing franchisee is doing about $2200 a month for the duration of nine months.
Corcoran inquired about their gross sales for all of their franchisees, including their shops for last year. Ilana replied that it is about $80K from the franchisees and $123K from Tampa.
Kevin was curious to know how they got a franchisee if they hadn’t made even $250K. They replied that they also invested in it.
Corcoran asked about the number of proposals they accepted for a franchisee to work with. Ilana pointed out that they accepted only four out of a hundred proposals.
Shark’s Response and Final Decision
Herjavec was the first shark out of the deal as he considers the business to be of very low scale.
In the same way, Lori didn’t think their company to be huge and thus decided to back out too.
Mark Cuban liked the overall concept behind the business, but he didn’t see it as something that could grow in the long run. He believed that despite any future success the company might have, like getting more weddings or franchise deals, it still wouldn’t reach a level that would make it a good investment. In his opinion, the business just wasn’t scalable enough for him to consider putting money into it. As a result, he decided to step out of the deal.
Corcoran highlighted that she really liked their business as they were not taking the franchisees at the same time and also there is a big market for dog lovers who want to work with dogs part-time. She offered them $75K for 25% equity in their company.
Then Kevin offered them $75K for 33.3% of their company.
They counter-offered Barbara $75K for 15% equity in their company. Which was readily rejected by Corcoran.
They counter-offered her $75K for 20%, which was also disliked by the shark.
Corcoran then revised her offer to $75K for 22%, which was finally accepted by Kelly and Ilana.
After securing a deal on the show, the company’s website shared that it currently operates only four locations. The main office is based in Tampa Bay, Florida, while the other franchise locations are spread across West Palm Beach, Florida, Las Vegas, Nevada, and Pittsburgh, Pennsylvania.
Interestingly, the services and prices offered by the company differ depending on the location. This means that what you get and how much you pay might change depending on which city you visit. Despite having just a few locations, the business is steadily growing.
Conclusion
Fairytale Pet Care successfully secured a deal on Shark Tank with Corcoran, agreeing to $75K for 22% equity. Although some sharks felt the business wasn’t scalable, Kelly and Ilana’s passion for helping pet owners on special occasions clicked for Barbara. Their unique services, which include pet care and transportation for weddings, are gaining attraction, and they have already established four locations.
The company continues to grow, offering personalized services that vary by location. With its strong social media presence and expanding franchise model, Fairytale Pet Care is steadily making a name for itself in the pet care industry.
Hey there, it’s Andaleb Youns. I am a freelance content writer and am currently pursuing a BS in English Language and Literature. I have expertise in writing Blog Posts, social media content, and copywriting. I know how it feels to be a student and still be dependent on parents to fulfill even basic daily needs. This realization became apparent while watching Shark Tank. Although I started watching this show out of boredom, it proved to be an inspirational show. The show made me realize the importance of hard work, being independent, and of having a business of my own. I still look forward to it for entertaining and inspirational content.
