Motherhood is a 24\7 job but it sometimes gets hectic. To enjoy some moment, mothers all over the world plan a get-together with their friends in a restaurant or cafe. However, they can’t leave their kids behind so plan for a place where an indoor playroom has been set up. But these areas do not provide a clean environment for kids.
Juliet Boydstun and Lucinda Lent, co-owners of The Coop, have introduced a better solution. The two friends have built a setup that is not only kids-friendly but also looks after the mothers. They both being parents themselves have a connection with all mothers in the world and hence introduced a clean indoor play house for kids and a cappuccino center for the mothers.
The owners came on Shark Tank to request $150K for 15% of their company. They also celebrated Cuban’s birthday with a shark theme set up to make an impression on the sharks. Let’s see if they made the deal or not.
The Coop Net Worth Shark Tank Update
Juliet and Lucinda were looking for an investment of $150k in exchange for 15% equity in the company. At the time of the episode, they valued their company at $1 million. Juliet and Lucinda successfully secured a deal with Barbara for an investment of $150k for 15% equity with a 2-year money-back guarantee. The investment maintained the company’s net worth at around $1 million. After the show was aired, the company experienced a good boost in exposure. As per my rough estimate, the current net worth of The Coop in 2024 is around $3.4 million.
$150K for 15% equity with a 2-year money-back guarantee
Yes
John Daymond
Out
N\A
N\A
Robert Herjavec
Out
N\A
N\A
The Owner’s Backstory
Juliet and Lucinda have been best friends for 18 years. They were in the best of their life at the time and were constantly into partying and going out. However, their meeting spots changed after entering into motherhood. They were only looking for kid’s spots but they were all cluttered and unhealthy. This led to The Coop. They provide a nice, cozy, and comfortable spot not only for kids but also for mothers.
Initial Pitch
The co-owners came on the show to seek $150K for a 15% equity stake. They also brought a whole setup on the show with shark theme accessories and cakes to celebrate Cuban’s birthday. Even though they were pregnant they were still working to develop and present their company in front of the sharks. It provides modern toys, a clean setup, and a cappuccino bar for mothers.
Queries about the Product
Kevin asked the first question regarding their capacity to hold parties on weekends. Lucinda estimated that it’s between six to nine parties.
Cuban then inquired about their price ranges. Juliet pointed out that it is between $595-$4K for two hours. Their outlet can only accommodate 15 children.
Kevin asked about the average profit per weekend. The owner highlighted that they make $5K easily every weekend.
Daymond questioned about their sales for last year. Juliet replied that it was about $350K. Their collective income is about $100K yearly and even then, they are left with $150K on a minimum basis.
Herjavec was curious to know the cost of building a single setup. Juliet answered that initially, they got a business loan of $125K. They are looking to expand their business but currently, they are occupied all seven days in one location only.
Shark’s Response and Final Decision
Kevin after hearing about their concentration in one place and looking forward to building 300 franchises, backed out without letting the owners deliver their case.
Daymond related that he couldn’t be of any value to them, apart from lending them money and dropping out too.
Herjavec highlighted that their success depends on them and their unable to move beyond one location is undigestible. They already have the potential to run 20 such enterprises but unfortunately, he was not convinced as well.
Cuban initially thanked them for the birthday surprise but he pointed out two issues. Firstly, he hasn’t worked with anyone on a personal level and secondly, there are already inexpensive alternatives that can also provide the same services. Thus, he backed out too.
Corcoran offered them $150K for 15% but with two years money-back guarantee. The owners negotiated for a couple of minutes and accepted the deal with her expertise.
Product’s Availability
Fortunately, The Coop is still in business, making an annual revenue of about $3.4M. They have started working in franchises as well and also partnered with Adine Le. They now have locations throughout California and one in Texas.
Thus, after making a deal with Corcoran, The Coop has successfully made it through the real world. They have developed their business from one location to several spots around U.S., making their mission of providing healthy and neat spots for parents and kids come true.
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.
