What Is the Coop?
The Coop is a children’s indoor/outdoor play area. Nothing beats a jam-packed, enjoyable party location with a kid-friendly ambiance that you won’t soon forget. Everyone will have a blast at The Coop, a party location in Studio City, California, regardless of age.
Who Is the Founder of The Coop?
The Coop was founded by Los Angeles businesswomen Juliet Boydstun and Lucinda Lent, who also presented The Coop on Shark Tank.
Before Shark Tank: The Coop
Juliet Boydstun and Lucinda Gould’s introductory videos offered a look into their personas. They both had a distinct Australian accent when they spoke. In front of the Sharks and the crowd, they declared that they were Los Angeles locals. They asserted that they owned the coop.
Then the video changed to a playhouse. The Coop is a well-liked kid’s hangout. According to Juliet Boydstun, the organization serves as a play and party place both indoors and outside. The other venues for children’s parties, according to Lucinda, are filthy and unhygienic. If they conducted their jobs more effectively, according to Lucinda, they could give events a better theme.
They praised The Coop as a fun spot for kids to hang out. Additionally, there was a patio 6 area outside where parents could hang out with friends or just read magazines. While they were fantastic party hosts, according to Juliet, they lacked the marketing skills required to become well-known.
How Was the Shark Tank Pitch of The Coop?
When Juliet and Lucinda appeared on the Shark Tank show, they were looking for a $150k investment in exchange for a 15% ownership position in The Coop. To promote their themed parties with shark fin party hats, they give Mark Cuban a miniature birthday celebration.
In 2011, they had a profit of $100k and brought in $350k. Kevin O’Leary thinks that although their business would eventually be qualified for franchising, they arrived too early and fled. He finds the figures fascinating, but they haven’t yet proven their theory. Kevin has quit because he believes it is too soon to consider franchising as their future.
They have the means, in Robert Herjavec’s opinion, to open twenty locations, and they ought to. He claims that since their company doesn’t need the Sharks’ resources, they should work independently. Robert also leaves thinking that the women should just open another location themselves.
Daymond When John asks if they only want $150,000, they say that they also want expertise. Daymond thinks of them as rock stars, but he is excluded because he has nothing to offer. “I want to express my gratitude for the best birthday ever today,” said Mark Cuban.
Although selling to middle America may be challenging, he thinks there is a substantial market opportunity. In smaller markets, he contends, less competitive options will prevail. Given that he thinks there are less expensive options for children’s parties, Mark decides to go out.
Due to Lucinda and Juliet’s promises, Barbara Corcoran will give them their money back once they’ve paid back the $150,000 in full. In exchange for a 15% commission, Barbara promises the woman $150K, but she needs a warranty or a personal guarantee. The contract is finalized when they concur!
According to Kevin O’Leary, they would be prepared to give up 15% of their company in exchange for a loan. This suggests that American banks are reluctant to make loans.
What Happened to The Coop After Shark Tank?
For episode 426, The Coop shot an update segment. They mention in the section that they introduced the COOP CRATE, a “party in a box,” to let guests take themed Coop parties home.
Given that it can be recycled and used again, the COOP CRATE bag has a similar idea to an IKEA bag. The Coop was referred to as “the hottest kids’ play facility in Los Angeles” in the Oscars pre-show that was shown.
Barbara Corcoran, a real estate millionaire, has been a great partner for Barbara Corcoran and the Coop. After Beyond the Tank, they think franchising is the next logical step (it was recorded in 2016). They had to shut down in 2020 due to the Covid-19 pandemic.
They started providing virtual parties through Zoom to send out favors and run events. As of December 2021, the company has seven locations. The company’s total annual income from its seven locations is $3.4 million. The Coop Crate was released to introduce Coop to the rest of America, as Lucinda and Juliet noted in their update section.
Customers may take the Coop experience home with Coop Crates, which are similar to Parties in a Bag. Along with three dozen cupcakes, you will get a consultation with a party expert at your house. The cost of the package is $5,000.
Additionally, they started franchising their idea for a party facility, which led to a location in Frisco, Texas. Impressively for a project supported in the second season, this business is successful.
Is the Coop Still in Business?
As of December 2021, The Coop is still in operation. In California, there are presently four The Coop locations: two in Redondo Beach and three in Studio City. Texas’s Frisco is the location of the fourth location.
Adine Li, who founded The Coop in San Francisco, was interviewed on 20/20 by Lucinda and Juliet, and Barbara Corcoran. The Coop conversations are presented live on television under Barbara’s direction. She consents to speak with Adine about. In the restricted area, the Coop has the power to set the price.
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