The Coop is a contemporary children’s play area that also serves as a gathering place for grownups. Lucinda Lent and Juliet Boydstun, two LA hipster women who became mothers in 2008, founded this trendy and relaxing place.
The driving force for this creation was a play area alternative to the kitschy, drab, and overflowing play venues they frequently used to visit when they were kids.
The idea behind this invention was to provide a place where children can learn, play, and have a good time while their mothers relax at the coffee bar in fashionable luxury.
Are They Still an Active Company?
As of June 2022, The Coop is still going strong. Currently, there are five Coop locations in California: 3 in Studio City and 2 in Redondo Beach.
Frisco. Adine Li founded The Coop in San Francisco. Barbara is in charge of The Coop meetings that are broadcast to the entire country through national television.
How Did the Shark Tank Pitch Go?
An amount of $150k was requested for a share of 15% in The Coop by Juliet and Lucinda on the Shark Tank television show.
They organized a birthday for Mark Cuban to show off their themed events with Shark party hats. In 2011, they made $100,000 in profit and brought in $350,000 in revenue.
As far as franchising is concerned, Kevin O’Leary felt they came and left too early. The numbers enthralled him, but he believed they were yet to convey the concept.
Kevin believed franchising was the company’s future, but he eventually ended up quitting because he thought it was too soon. Robert Herjavec believed that they should be able to open twenty sites.
Rather than relying on the Sharks’ resources, he argued that they must work independently. When the women decided they wanted to start a new location, Robert decided to leave as well.
They didn’t want only $150,000 but were looking for competence. Due to this, Daymond considered them rockstars, but he couldn’t contribute.
Mark thanked them for holding the best birthday that day in Shark Tank. Since the average American is skeptical, he saw an enormous market for this product.
He believed that alternatives with less competition would prevail in smaller markets. As a result, Mark decided to go out and look for a less expensive option for the children’s birthday party.
Barbara Corcoran returned the money to Lucinda and Juliet; once they returned Barbara Corcoran $150. However, Barbara demanded a personal guarantee or a warranty in exchange for her $150K offer to the women. Their agreement sealed the transaction.
Kevin O’Leary said they were willing to give up 15% of their company to secure a loan. There was a strong indication that banks in the United States were reluctant to lend.
In 426 episode, The Coop broadcasted an update segment called “party in a box.” In that segment, The Coop Crate was introduced to allow partygoers to take their Coop parties home.
The Coop Crate bag resembles an IKEA bag as it is recyclable and reusable. The Coop, also known as a trendy kids’ play area in Los Angeles, was mentioned in an Oscars pre-show program.
Barbara Corcoran, a multibillionaire in the real estate industry, has proven to be an invaluable ally to The Coop. After Beyond the Tank, they feel franchising should be the next goal.
Because of the COVID, they had to shut down before 2020. They started providing Zoom-based virtual parties where guests could send gifts and participate in games.
As of June 2022, the firm has seven sites. All seven of the company’s outlets create revenue of $3.4 million.
Lucinda and Juliet created the Coop Crate to promote Coop to the rest of the United States. Customers can carry The Coop experience wherever they go using Coop Crates, which are essentially just party bags.
With Coop Crates, three dozen cupcakes can be delivered to your home for a meeting with a party planner. The full price is $5,000.
In addition, they started franchising their venue idea, which resulted in a Frisco, Texas location. This is an outstanding accomplishment for a business started in the second season.
Our Review of The Coop
The Coop is a children’s play area with both indoor and outdoor components. If you want an experience that you and your children won’t soon forget, go no farther than a packed, fun-filled party location.
The Coop, a party venue in Studio City, guarantees a good time for all ages. A trip to The Coop will brighten your day and help you make lasting memories, whether you’re a youngster or an adult. With it, parents have an option other than the overly-crowded and uninspiring play area.
Pros of The Coop
- Play areas for children that are airy and open with high-quality activities.
- It has benefits for adults as well as children.
Cons of The Coop
- None
Who Is The Coop For?
The Coop is home to a variety of kid-friendly and adult-friendly play areas. During their journey from LA hipster ladies to parents, Juliet Boydstun and Lucinda Lent developed this elegant and laid-back environment in 2008.
The two co-founded the company in their respective cities as an alternative to the dismal, twee, overcrowded play facilities in which they used to spend time in their childhood.
The idea is to provide a place where moms may unwind with a cup of coffee while their children play and learn.
Are There Any Alternatives?
- None
Our Final Thoughts
The Coop is always looking for new ways to expand, and they’ve got a great ally in Barbara Corcoran! The firm was featured in Episode 110 of Beyond the Tank.
There was a suggestion of franchising in Beyond the Tank. It was recorded in 2016 in this video. Due to the COVID-19 pandemic, the firm closed its doors in 2020.
It then decided to start offering virtual parties, where favors were sent by postal mail and activities were carried out via Zoom video conferences.
By the end of 2022, the Coop will have seven places to call home. $3.4 million is the total annual revenue generated by the seven Coop outlets around the country.
