It can be difficult for parents to find a neat, secure, and interesting play area for their children. A lot of indoor play spaces seem old, overcrowded, or just plain ugly. Mothers in particular are aware of the difficulty in creating an enjoyable environment for their kids while yet being cozy for grownups.
That’s where two Los Angeles mothers, Juliet Boydstun and Lucinda Lent, came in. Tired of the options available, they opened The Coop, a luxurious indoor play area intended to please children and adults alike. The Coop provides a contemporary, trendy setting for kids to run around and play in and for adults to unwind in a cozy area that feels more like a sophisticated cafe than a standard playroom.
Juliet and Lucinda asked for $150,000 in exchange for 15% equity when they went on Shark Tank to present their idea of turning The Coop into a franchise. Did the entrepreneur get a deal on Shark Tank? Check out our The Coop update to find out!
The Coop Net Worth 2024
Juliet Boydstun and Lucinda Lent asked for a $150k investment in exchange for 15% equity in The Coop. This meant they valued their company at $1 million. They made a deal with Barbara for $150k in exchange for 15% equity, with a promise to pay back the investment in two years. This deal valued The Coop at $1 million. After the show aired, The Coop experienced substantial growth, including successful franchising and increasing revenue. With an estimated 10% yearly growth rate (typical business growth), the current net worth of The Coop in 2024 is about $4.2 million.
The Coop Shark Tank Update
Shark Tank appearances brought The Coop a lot of success. Juliet and Lucinda were able to grow their business because of the show’s publicity. As for The Coop Update, it was prepared to start franchising in 2016, which made it possible for it to grow its brand outside of Los Angeles.
They established a number of outlets in California and even one in Texas with the assistance of Adine Le, their recent business partner. As of today, The Coop is still going strong, bringing in about $3.4 million a year from its different sites.
Families all around the nation have embraced The Coop’s idea of offering a chic, high-end play area for kids while keeping parents in mind, making it their preferred location for playdates and birthday celebrations.
Yes, Juliet and Lucinda succeeded in securing a Shark Tank deal. After their business presentation, Barbara Corcoran offered them exactly what they requested: $150,000 in exchange for 15% stock. But Barbara added a special twist to the deal: she demanded a promise that she would receive her money back in two years. Juliet and Lucinda accepted this deal.
| Shark(s) name | Offer & Demand | Counteroffer | Accepted? |
| Barbara Corcoran | $150,000 for 15% equity and money back guarantee in 2 years | N/A | Yes |
| Robert Herjavec | Out | N/A | N/A |
| Kevin O’Leary | Out | N/A | N/A |
| Daymond John | Out | N/A | N/A |
| Mark Cuban | Out | N/A | N/A |
The Coop Shark Tank Pitch
Mothers Juliet Boydstun and Lucinda Lent, who live in Los Angeles, wanted to establish a clean, enjoyable play area for their kids while also giving parents a more relaxed experience. They believed that the majority of indoor play spaces were disorganized and did not address the needs of both children and adults.
Inspired by their own annoyances, they set out to design a solution that was stylish, safe, and enjoyable. The result was the creation of The Coop, an upscale indoor play area with a contemporary aesthetic, excellent facilities, and a location where parents could unwind while their kids had a good time.
They had to deal with the typical challenges that come with launching a firm in the beginning, such as choosing the ideal site and raising capital. But their enthusiasm for making a better experience for families kept them going.
Juliet and Lucinda had a distinct plan when they walked into the Shark Tank. The Coop was presented as a high-end indoor play area where kids could play happily, and parents could unwind. They highlighted how The Coop differs from conventional play areas with its contemporary design and party services.
Prior to their arrival, the business had generated $350,000 in gross revenue, indicating its profitability. The two expressed their intention to franchise The Coop across the nation, indicating that they weren’t content with simply opening another site.
To help them grow, they asked the sharks for $150,000 in exchange for 15% stock. The sharks had some doubts, but overall, their presentation was well accepted. Keep reading our The Coop update to see what happens next!
Mark Cuban asked about the price ranges, the mothers replied that it ranges from $595 to $4,000 for two hours. This supports 15 kids.
It’s a very high price, Barbara Corcoran responded when they revealed their prices. The mothers, in response, said that they have good prices as compared to competitors in the market in Los Angeles.
Kevin asked about the average profit per week. The founders replied they made $5,000 every weekend easily.
Daymond questioned their last year’s earnings. They replied $350,000 and they both take around $100,000 a year.
Mark further asked about the investment to open up a single coop from the start. They revealed that they got a business loan of $125,000.
Although Kevin O’Leary was impressed with their figures, he decided not to invest since he didn’t think the company was ready.
Mark Cuban left because he didn’t think The Coop’s model would work in middle America and that it was a sustainable idea.
Daymond John left after realizing that the founders wanted something more than just money, which he was unable to provide.
Recognizing the founders’ drive, Barbara Corcoran offered them $150,000 in exchange for 15% equity, but she also specified that she would want her money back in two years. The founders decided after a little thought, and an agreement was made.
Product Availability
With the needs of both children and parents in mind, The Coop provides a chic and contemporary indoor play area. Depending on the services provided, it offers a range of packages for birthday celebrations and gatherings, with prices from $595 to $4,000. From our The Coop update research, The Coop has operated several franchised stores in California and one in Texas with success. Visit The Coop’s official website to schedule a party or for additional information.
Conclusion
The Coop has shown to be more than just a place to play for families searching for a unique, fashionable location for their kid’s celebrations, it offers an outstanding experience. Juliet and Lucinda have grown their company through franchising and are still expanding with Barbara Corcoran’s assistance. The Coop is flourishing as of today, with several locations and a reliable source of income. The Coop’s future is bright as it continues to grow, fulfilling the founders’ dream of opening a posh play area that serves both adults and children.
Hey, I’m Amna Habib an undergraduate student of Bachelors in Business Administration. Shark Tank is one of my favorite TV shows of all time. The show provides a fascinating insight into the world of entrepreneurship by presenting creative solutions to common problems, which strongly connects to my academic interests. I’m interested in learning more about the strategic thinking and creativity that lead these companies as each pitch provides insightful information. I’ve found that watching Shark Tank has inspired my enthusiasm for business and entrepreneurship and has been a very enlightening and motivating experience. Apart from business and writing, I love food, shopping, and hanging out with friends and family. Read more About me.
