The Coop Shark Tank Net Worth 2023
During the pitch, The Coop was valued at $1 million. After securing an investment from Barbara, the company has expanded to seven additional locations and generates an annual revenue of $3.4 million.
These impressive figures suggest that the net worth of the company has likely increased substantially.
What is The Coop? Who is the founder of The Coop?
The Coop, a play and party venue for kids, is a fantastic indoor/outdoor space that was created by Juliet Boydstun and Lucinda Lent of Los Angeles.
They wanted to establish a venue that they would enjoy spending time in just as much as their children would.
With their impressive outdoor garden, free Wi-Fi, coffee bar, great magazines, and stress-free events, they were successful in their goal. The Coop is a place where everyone can come together for some fun and frolic in a clean and safe environment.
In 2008, Juliet Boydstun and Lucinda Lent designed the modern and relaxed space as they transitioned from being LA hipsters to mothers.
They founded the company to offer a better alternative to the dull and overcrowded play areas that they often encountered.
Their aim was to create an atmosphere where children can play, learn, and have fun, while their mothers can relax in a stylish and comfortable coffee bar.
The Coop is not only a place for kids to enjoy, but also a safe haven that provides a nurturing environment for both children and their mothers.
One of the best things about The Coop is the amenities and events that make it a favorite spot among parents. The Coop offers a variety of exciting parties including beauty, music, fashion, dance, cooking, and crafts.
Additionally, free Wi-Fi is available, and kids are welcome to bring their own snacks to enjoy during playtime.
The Coop Shark Tank Pitch
Juliet and Lucinda sought investment from the Sharks in season 4, episode 11 of Shark Tank to help scale their business.
They pitched their idea of themed events and requested $150,000 for a 15% stake in their company, which was valued at $1 million.
During their presentation, they threw a mini-birthday celebration for Mark Cuban to demonstrate their concept, complete with Shark fin party hats. The ladies had made $350,000 in sales in 2011, with a profit of $100,000.
While Kevin thought franchising was the way forward, Robert suggested they open another location on their own, and Daymond didn’t see any value he could add.
Mark felt there were cheaper kids party options available. However, Barbara offered them $150,000 for a 15% equity stake, provided they offer a warrant or personal guarantee.
The ladies accepted Barbara’s offer, and after the broadcast aired, they concluded the deal. In a later update segment, they shared that they had launched a “COOP CRATE,” a reusable and recyclable bag that allowed customers to transport a themed Coop party home.
The Coop was dubbed the “trendiest kids play facility in LA” by the Oscars pre-show Countdown to the Red Carpet.
Although they were forced to close due to the COVID-19 pandemic, they continued to provide virtual parties through Zoom and ship favors.
As of August 2021, The Coop had seven locations across California and Texas, with a total annual income of $3.4 million. They were also featured on Beyond the Tank, where they discussed their plans to franchise their business.
Net Worth of The Coop
The company was valued at $1 million during the pitch and after the investment done by Barbara. Since then the company have been in business with additional of seven location and annual revenue of $3.4 million. This justify that the company net worth might had increased.
The Coop FAQs
What is The Coop?
The Coop is the perfect play space for children and parents. It was designed to make parents’ lives easier while keeping the kids entertained, while they enjoy coffee, tea and free Wi-Fi in a relaxed atmosphere.
Who is the founder?
Juliet Boydstun and Lucinda Lent designed the modern and relaxed apartment in 2008 as they transitioned from LA hipster chicks to mothers.
The two founded the company to provide a better alternative to the dreary, cutesy, congested play areas that they frequently encountered.
How much were seeking on Shark Tank?
They were seeking for $150,000 for 15% equity in their company.
Did they have the deal?
Yes, they secured the deal from Barbara Corcoran.
How much was the deal?
Barbara offered $150,000 for 15% equity shares of the company.
Is The Coop still in business?
The Coop is still in business.
Is The Coop safe?
Yes, The Coop is safe.
Can I book a party at The Coop?
Yes, one can book a party by calling them on Call (818) 760-9613.
What are the payment terms?
The payment terms are flexible.
How does The Coop make money?
The Coop makes money from booking parties and selling party bags to its customers.
Is The Coop legit?
Yes, The Coop is legit.
Is there a franchise fee for The Coop?
There is no franchise fee for The Coop.
How is the business model of The Coop?
The Coop has a unique business model. They offer a unique location for children’s parties.
What is the market target of The Coop?
The Coop primarily offers parties to children and their parents.
How did The Coop become popular?
The Coop became popular with their special events. They provided parties for children, birthday parties, and anniversaries.
Why should I go to The Coop?
One should go to The Coop because it gives a quality service and has a fun environment.
Is there free Wi-Fi at The Coop?
Yes, they have free Wi-Fi at their location.
What is the address of The Coop?
The address of The Coop is 6333 Coffee Rd, Los Angeles, CA 91605.
How does The Coop work?
The Coop provides a place for parents to stay and relax, while their kids play in the play area.
Where can I search for reviews about The Coop?
Reviews about The Coop are available on many sites over the internet.
What are the payment methods of The Coop?
All the payment at The Coop is via cash, credit card and debit cards.
How much are the parties cost at The Coop?
The cost of the parties at The Coop varies. But averagely the cost of a party is $50 per hour (duration one hour).
What is The Coop website?
The Coop website is http://www.thecoop-la.com/
What is the phone number of The Coop?
The phone number of The Coop is (818) 760-9613.
What is The Coop email address?
The Coop is [email protected]
Does The Coop offer coupons?
Yes, they offer coupons to their customers. They are available on various sites over the internet.
Where can I get more details about The Coop?
One can get more details about The Coop over the internet. One can visit thecoop-la.com or follow the company on social media sites such as Facebook and Twitter.
What is the net worth of Lucinda Lent?
The net worth of Lucinda Lent is unknown.
What is the net worth of Juliet Boydstun?
The net worth of Juliet Boydstun is unknown.
