Shark Tank Update
Shark Tank Pitch
The Coop Shark Tank Update
Published:
3m
Los Angeles, CA
| Name | The Coop |
|---|---|
| Main Presenters | Lucinda Lent and Juliet Boydstun |
| Presenter Image | |
| Product Image | |
| Last Known in Business | 10/3/2022 |
| Main Location | Los Angeles, CA Loading Map |
| Order Shown in Episode | 1 |
| Final Deal | Deal was made on the show with sharks Barbara Corcoran for $150k for 15% of company and must be paid back $150k in two years. |
The Coop Shark Tank Pitch
Lucinda Lent and Juliet Boydstun found the event spaces they took their kids to were gross, so they built The Coop to meet their standards. The Coop creates an atmosphere for the kids to have fun and caters to the parents.
Lucinda and Juliet got a business loan for $125k to start The Coop, which did $350k in revenue last year with around $120k profit after removing $100k for their salaries.
For Mark's birthday, Lucinda and Juliet hand out shark-fin hats. Mark is thrilled.
Thank you for the birthday. It's the best birthday I've ev—that I've had today.
Lucinda says that the sharks will get their money back in two years. Barbara calls their potential bluff by offering them precisely what they wanted but requiring them to pay her back in two years, essentially like a loan. The girls accept.
Offers
| Made By | Label | Sharks Part of Deal | Summary |
|---|---|---|---|
| Company | Offered | $150k for 15% of company | |
| Sharks | Out | Kevin O'Leary | Out |
| Sharks | Out | Daymond John | Out |
| Sharks | Out | Robert Herjavec | Out |
| Sharks | Out | Mark Cuban | Out |
| Sharks | Deal | Barbara Corcoran | $150k for 15% of company and must be paid back $150k in two years |
Mark Cuban
Out
Daymond John
Out
Kevin O'Leary
Out
Barbara Corcoran
Made Deal
Robert Herjavec
Out
Updates in Shark Tank Episodes
| Update Season | Update Episode |
|---|---|
| 4 | 21 |
| 5 | 9 |
The Coop After Shark Tank
In season 4, episode 21, Lucinda Lent and Juliet Boydstun gave an update that they moved forward with Barbara. Last year's sales were $350k, and they are on track to do $1 million this year. The Coop introduced Parties To Go, traveling to peoples' homes to host parties. They also created the Coop Crate, which has party supplies that can be shipped anywhere.
In season 5, episode 9, Barbara brought 7 of her best Shark Tank companies to her summer home in Fire Island, New York, for a retreat. Barbara announced the release of a Shark Tank book, with advice from all the sharks. The Coop's sales had increased by $600k (annual sales relative to the year before Shark Tank?).
In season 1, episode 10 of Beyond The Tank in 2016, revenue was increasing slowly and the girls felt they were working too hard for too little reward and if profits didn't pick up they were going to move on. The Coop expanded to add its first partner location (which is slightly different than franchising).
Business slowed down during the covid panic in 2020 but they seem to have survived, perhaps through some income through virtual parties and their product sales.
In 2022 The Coop's website, thecoop-la.com https://www.thecoop-la.com https://issuu.com/thefranchisewoman/docs/tfwnov2019pages/s/160417 lists seven locations with six in California and one in Texas. In a 2019 article by issuu.com Link Preview
thecoop-la.com the girls talk about the importance of finding the right owners for a franchise due to the hands-on nature of their business.Link Preview
issuu.com
In 2022 Lucinda works as an executive director at LA Dance Project.
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