Juliet Boydstun and Lucinda Kent thought up the idea for The Coop after they spent too many days in what they called a party prison, where children gather to have their parties and adults hang out and wait to have their children come home.
They designed a bright, fun, clean place for children to play and have fun with a stylish cappuccino bar and an outdoor patio for adults to enjoy.
They did well. We inform you that they are happy to make a living by providing a party planning service. The company was nicknamed The Hot Tot Party Spot by US Weekly.
They realized throwing parties wasn’t as good as being good at business. They wanted to expand but were busy at their one location every day. They needed someone to help them become successful. They needed a mentor.
They engaged the assistance of a woman who had established herself as a successful businesswoman and subsequently acquired her services. They needed a mentor. They found one in Barbara Corcoran.
And with the help of a friend, they created the popular Coop Crate, a party that came in a box to help patrons plan to have their kids’ birthdays at home. They are currently opening more locations and are offering franchise opportunities.
They were planning a series with PopSugar called Best Birthday Ever, where they would show how they planned birthday parties for people.
What Is The Coop?
The Coop is an indoor/outdoor play space for children. There’s nothing better than a crowded, fun-filled party spot with a kid-friendly atmosphere that you won’t soon forget.
The Coop is a party place located in Studio City, California, ensuring everyone will have a blast regardless of age.
|Company Name||The Coop|
|Entrepreneur||Lucinda Lent And Juliet Boydstun|
|Product||Children’s And Adults’ Party Planning Services|
|Investment Asking For||$150,000 For 15% equity in The Coop|
|Final Deal||$150,000 For 15% equity in The Coop|
|Episode||Season 4 Episode 11|
|Business Status||In Business|
Who Is The Founder Of The Coop?
Los Angeles entrepreneurs Juliet Boydstun and Lucinda Lent founded The Coop and pitched their business on Shark Tank.
The Coop Before Shark Tank
The opening video for Juliet Boydstun and Lucinda Gould showed their personalities. They both spoke with a distinctly Australian accent.
They identified themselves as Los Angeles natives in front of the Sharks and the audience. They claimed ownership of the coop.
The video then moved to playhouse The Coop a popular kids’ destination. Juliet Boydstun describes the group as an indoor and outdoor play and party venue.
Lucinda criticized the other options for hosting children’s parties as filthy and unsanitary. Lucinda claimed they could give parties a better theme if they did their job better.
They described The Coop as a place where children could have a good time. It also had an outdoor patio 6 area where parents could gather with friends or read magazines.
Juliet stated that they were amazing party throwers but lacked the commercial abilities essential to grow into a household name.
How Was The Shark Tank Pitch Of The Coop?
Juliet and Lucinda appeared on Shark Tank requesting an investment of $150,000 in exchange for a 15% stake in The Coop.
They throw Mark Cuban a mini-birthday party to showcase their themed parties with shark fin party hats.
The Coop earned $100,000 in profit and generated $350,000 in revenue in 2011.
Kevin O’Leary believes their company may be eligible for franchising in the future but that they have arrived too early and left.
The numbers intrigue him, yet they have yet to demonstrate their concept. Kevin thinks franchising will be their future, but he thinks it is too soon; he has resigned.
Robert Herjavec thinks they have the resources to open twenty locations, and he thinks they should.
He asserts they should work independently because their firm does not require the Sharks’ resources.
Consequently, Robert thinks the women should simply open another location themselves, so he also departs.
Daymond John inquires if all they desire is one hundred fifty thousand dollars, to which they respond that they desire expertise.
Daymond regards them as rock stars but cannot add any value; he is out.
Mark Cuban stated, “I want to express my gratitude for the finest birthday ever today.”
Although it will be difficult to sell to middle America, he believes the market opportunity is huge.
He argues that alternatives with lower competition will win in smaller markets.
Mark decides to leave since he believes children’s parties have less expensive possibilities.
Lucinda and Juliet’s guarantees ensure that Barbara Corcoran will return the money to them when they have repaid the amount of one-hundred-fifty thousand dollars.
Barbara offers an investment of $150,000 in exchange for a 15% stake in The Coop, but she requires a warranty or a personal guarantee. They agree, and the deal is sealed!
Kevin O’Leary states that they would be willing to surrender 15% of their firm to get a loan.
The founders of The Coop left the Shark Tank stage, securing a deal from Barbara Corcoran.
Final Deal: Barbara Corcoran agreed to invest $150,000 for a 15% stake in The Coop.
What Happened To The Coop After Shark Tank?
Barbara Corcoran appeared on 20/20 a few days ago with Lucinda and Juliet. They are negotiating with Adine Li of San Francisco, who wants to open another The Coop in their city.
The Coop is involved in nationwide television negotiations, and Barbara Corcoran is the one who takes the lead in these negotiations.
Barbara Corcoran wants Adine Li to allow The Coop to set a price for the products that they sell on the network. Adine agrees, which will be the first time this will be allowed.
The Coop operates seven locations as of 2022 and generates $3.4 million in annual revenue across all seven locations.
The Coop Shark Tank Update
Lucinda and Juliet mentioned in their update section that they had released the Coop Crate to introduce Coop to the rest of America.
Coop Crates are like a Party in a Bag that lets customers take the Coop experience home.
You will receive a consultation with a party specialist at your home and three dozen cupcakes. The package costs $5,000.
Additionally, they began franchising their party venue concept, resulting in a Frisco, Texas site.
This is a successful company, which is impressive for a venture sponsored during the second season.
Is The Coop Still In Business?
The Coop is still in business as of 2022 and has seven locations in the United States.
The Coop was created in San Francisco by Adine Li, interviewed on 20/20 by Barbara Corcoran and Lucinda and Juliet.
Barbara leads the Coop discussions, which take place on national television.
She agrees to discuss with Adine The Coop’s right to determine the price in the protected area.
What Is the Net Worth of The Coop?
The valuation of The Coop was $1 million when it appeared on Shark Tank. The net worth of The Coop is $3.4 million as of 2022.