The winner of “Best Classic Toy” by Dr. Toy in 2014, Fort Magic is a math and engineering simulator for kids. Fort Magic is a set of construction kits for kids only. Fort Magic is available on Amazon. The product consists of a series of sticks and connectors for the kids to build a fort skeleton.
After that, the skeleton can be attached to sheets or blankets with the help of the provided clips. The interchangeable sections can be used to construct as many structures as the kids want. The kids are kept busy with a toy that can prove very productive for their minds.
Fort Magic at a Glance:-
|Fort building kits for kids
|$75,000 For 15%
|Season 5, Episode 25
Who are the founders of Fort Magic?
Erika Pope is the entrepreneur and the brains behind Fort Magic. She saw her son get frustrated while playing with a dryer box because he had to face numerous limitations. So, this gave birth to the idea of Fort Magic. She wanted to create a toy that kids could use to construct life-sized structures indoors. It took her two years of hard work to develop the Fort Magic in 2011.
Did Fort Magic get a deal on the Shark Tank?
Erik Pope enters the show looking for an investment of $75,000 in exchange for a 15% equity in the business. Pope narrated her story and pitch; she gave samples to all the Sharks. Robert Herjavec stood and went to the stage to play with Fort Magic. During the pitch, Erik shared that she had made sales of $150,000 in 18 months. Erik also stated that there are 3 partners in the business and she can negotiate with 70 % of the business.
Barbara was the first to move out as she didn’t find it investable or appropriate for her money. Mark Cuban suggested to her to get focused and went out. Kevin said I thought the price was not reasonable” and went out. As kits do not come with fabric, Lori Greiner suggested she bring the fabric with the kits and turn herself down.
Robert Herjavec had another plan for Erik and said once the show aired she’d do a lot of sales and thus gave an offer of $75,000 for an exchange of 50% equity make the firm. Pope gave a counter offer of $75,000 for a 25% equity. Robert said it was a non-negotiable offer, and Erik said no to the offer and went empty-handed.
What happened to Fort Magic after Shark Tank?
After the show, Erik’s business of Fort Magic went on high. Robert’s words turned out to be true. The success of business went down with the flow of time. There are a few additions made by Erik which include covers, connectors, and sticks.
During the pitch, Fort Magic asked for a valuation of $500,000 but Robert agreed to offer a valuation of $150,000, which was not acceptable to Erik.
The price of Fort Magic before was $199, but after the show, it was lower to $139. Erik shared that there are other inexpensive and smaller kits too. During the initial stage of business, they used to operate through Amazon and their website. As of 2022, they are not available on Amazon but sources identify that they are in operation through their website.
Competitors of Fort Magic:
There are no competitors identical to Fort Magic. A few alternatives to Fort Magic are:-
- Pretend Playing kit
- Pillow Fort
- 10-in – 1
What is the net worth of Fort Magic?
The valuation during the show was $500,000, which was not acceptable for the sharks. Currently, the estimated annual revenue of Fort Magic is around $500,000 to $600,000. The numbers show the scale of business in the future.
Is Fort Magic still in business?
Fort Magic is still in operation as of 2022. Currently, they are operating through their website. For some fortunate reason, they’re off of the Amazon platform. Fort Magic has tried to make ties up with various stores and Bizz Bucket wishes the best for Fort Magic.
Fort Magic Social Links:
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What is Fort Magic?
Fort Magic is a math and engineering simulator for kids. Fort Magic is a set of construction kits for kids only. Fort Magic is available on Amazon. The product consists of a series of sticks and connectors for the kids to build a fort skeleton.
Who founded Fort Magic?
Erika Pope is the entrepreneur and the brains behind Fort Magic. She saw her son get frustrated while playing with a dryer box because he had to face numerous limitations. So, this gave birth to the idea of Fort Magic. She wanted to create a toy that kids could use to construct life-sized structures indoors.