Fort Magic Net Worth
Fort Magic appeared on Shark Tank in 2014 and asked for a valuation of $500,000. Robert offered a valuation of $150,000, which was not acceptable to Erik. The estimated net worth of Fort Magic is around $500,000 to $600,000. Erika Pope has a net worth of $500,000 as of 2023.
Fort Magic is still in business as of 2022 with an annual revenue of up to $500,000. They no longer sell on Amazon but are available through their website. There are no competitors identical to Fort Magic but there are a few alternatives such as Tinkertoy and K’NEX.
What is Fort Magic and Who Founded Fort Magic?
Fort Magic is a fort-building kit that contains both straight and curved sticks and a vast range of connections, making it unique.
The kit comes with a handbook, 17 different fort designs (such as rockets, spaceships, pirate ships, and castles), and 100 Snap-On fabric clips to attach sheets or blankets to the fort. With just one kit, children can create an unlimited number of durable fort designs.
Fort Magic was founded by Erika Pope from Sarasota, Florida. She came up with the idea after her child became dissatisfied with the limitations of a fort made from a dryer box.
Pope recognized that children love “life-sized” imaginative play and set out to create a grandiose building toy. After two years of experimentation, Fort Magic was born in late 2011.
Fort Magic has won numerous awards, including the Academics’ Choice Brain Toy Award, the Top 10 PAL Award for Toys of the Year, the Creative Child Magazine Product of the Year Award, the Creative Child Magazine Play Structures of the Year Award, the PAL Award, the Tillywig Brain Child Award, the Parents’ Choice Recommended Award, and Dr. Toy’s Best Classic Award.
These awards recognize the toy’s creativity, construction, educational value, and activity play for children.
Fort Magic is available for purchase on Amazon.
Fort Magic Shark Tank Pitch
During the pitch on Shark Tank season 5 episode 25, Erika Pope offered a 15% stake in Fort Magic in exchange for $75,000. Robert Herjavec made an offer of $75,000 for a 50% stake in the business, but Erika refused.
Despite some Sharks believing the product was overpriced, Erika sold out of kits following the airing of the show.
After the show, Erika increased the price of the Fort Magic kit to $139 by including fabric coverings and add-on kits.
The company continued to sell, and smaller, less expensive starting sets were introduced. As of December 2021, the company is still in business, but no longer sells on Amazon. The annual revenue ranges from $500,000 to $600,000.
Fort Magic Competitors
There is no competitor identified for Fort Magic.
Fort Magic FAQS
What is Fort Magic?
Fort Magic is an indoor fort-building kit that features a variety of designs and a wide range of parts.
Each kit contains a handbook, 17 fort designs (including rockets, spaceships, pirate ships, and castles), and 100 Snap-On fabric clips for attaching sheets or blankets to the fort.
Who Founded Fort Magic?
Erika Pope of Sarasota, Florida, founded Fort Magic and pitched her firm on Shark Tank in April 2014.
How much she asking in the Shark Tank Pitch?
She was seeking $75,000 for 20% equity in the business.
Did she get the deal from the Shark Tank?
No. She declines an offer from Robert of $75,000 for 50% of the business.
Is Fort Magic still in business?
They are still in business as of December 2021, but are no longer selling on Amazon. The annual revenue ranges from $500,000 to $600,000.
Is Fort Magic a successful business?
Fort Magic has received the Tillywig Brain Child Award, the Creative Child Magazine Product of the Year Award, the Creative Child Magazine Play Structures of the Year Award, and many more accolades.
Why is Fort Magic so popular?
Fort Magic offers children creativity on a grand scale while still being a safe toy.
When was Fort Magic aired on Shark Tank?
Fort Magic was featured on the season 5 episode 25 of Shark Tank aired on April, 2014.
What episode of Shark Tank was Fort Magic featured?
Fort Magic appeared on the fifth season episode 25 of Shark Tank.
How much was Fort Magic to purchase?
Fort Magic now costs $149.9.
Where is Fort Magic located?
Fort Magic is located in Sarasota, Florida.
How do they build a fort?
The kit offers 17 different designs for constructing a fort.
What is net worth of Erika Pope?
Erika Pope’s net worth is unavailable.
What year did Fort Magic begin operations?
In 2010, Fort Magic, LLC was founded.
What is the website address for Fort Magic?
The website for Fort Magic is www.fortmagic.com.