The Coop plays host to hip, contemporary play spaces for children that also cater to adult interests.
Juliet Boydstun and Lucinda Lent founded the sleek and relaxed space in 2008 when they were transitioning from LA hipster chicks to parents.
The two founded the firm as an alternative to the dreary, twee, crowded play facilities in which they frequently found themselves.
The goal is to provide a space where children may play, learn, and have fun while their mothers relax in fashionable comfort at the coffee bar.
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 provided a glimpse of 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 is 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 that 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 simply read magazines.
Juliet stated that while they were amazing party throwers, they lacked the commercial abilities essential to grow into a household name.
How Was The Shark Tank Pitch Of The Coop?
Juliet and Lucinda reached the Shark Tank show seeking an investment of $150k 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.
They earned $100K in profit and generated $350K 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 that 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 he 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 the lower competition will win in smaller markets.
Mark decides to go out since he believes there are less expensive possibilities for children’s parties.
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 the women $150K in exchange for a 15% commission, 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. This indicates that banks in America do not want to lend money.
What Happened To The Coop After Shark Tank?
The Coop filmed an update segment for episode 426. They mention in the segment that they launched a “party in a box,” the COOP CRATE, to enable partygoers to bring themed Coop parties home.
The COOP CRATE bag is similar in concept to an IKEA bag since it is reusable and recyclable.
In its broadcast, an Oscars pre-show called The Coop, “the hottest kids play facility in Los Angeles.”
A real estate billionaire, Barbara Corcoran has been a fantastic partner for Barbara Corcoran and the Coop.
They believe franchising is the next step (filmed in 2016) after Beyond the Tank. The Covid-19 pandemic forced them to close in 2020.
They began offering virtual parties via Zoom to ship favors and conduct activities.
The company operates seven locations as of December 2021. The company 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 as well as 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 operating as of December 2021. The Coop currently has four locations in California: two in Redondo Beach and three in Studio City. A fourth location is located in Frisco, Texas.
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.