Treasure chest pets are soft and fluffy toys that are loved and meant for children.
Different animals’ soft toys are manufactured under the brand. Additional qualities include: as it can be used by organizers, it has a pocket to store other small toys. It is made adorable in looking and cute to attract kids.
Treasure chest Pets at a glance:
| BUSINESS Idea | Soft and fluffy toys that are loved and meant for children |
| ENTREPRENEUR | Lisa Lloyd |
| ASKED FOR | $150,000 For 20% |
| ACCEPTED OFFER | $150,000 For 60% |
| SHARK | Barbara Corcoran And Daymond John |
| BUSINESS STATUS | Out Of Business |
Index:
Who is the founder of Treasure chest Pets?
The actual founder of Treasure chest pets is Sandra Castillo but Lisa Lloyd is recognized as the founder. Once Sandra reached Lisa in need of help to advertise her product, Lisa became the face of it.
They both were individual entrepreneurs and made a deal among them. Treasure chest pets manufactured different types of toys, pillows, and organizers. It was all an idea of Sandra.
How was the Treasure chest Pets shark tank pitch?
Lisa Lloyd came on Shark Tank to increase their reach in the market as she needed capital. She came up with a pitch of $150,000 for 20% equity in her business. She gave some samples to the sharks and explained their features.
Kevin O’Leary didn’t seem much interested as he didn’t want to invest in a toy line and went out. Kevin Harrington said it was a seasonal business and went out. Â Barbara offered $50,000 for 50% to which Daymond John joined the deal and offered $150,000 for 60%. Robert thought they were doing no justice to Lisa. Thus, he offered a loan of $150,000 for 0% equity.
Lisa gave a thought and accepted the deal of Barbara and John as she needed investors with distribution lines.
What’s the net worth of Treasure chest Pets?
Treasure chest pets gained popularity after the Shark Tank show. John helped Lisa in the distribution line which increased the sale and created revenue for the company.
They manufactured it for $4.75 per unit and sold it to retailers for $19.95. They were also available online to increase their customer reach. Unfortunately, Treasure chest pets are currently out of business.
At the time of the shark tank appearance, TCP was valued at around $250,000.
What happened to TC Pets after Shark Tank?
Prior to their appearance on Shark Tank, the company had already made $100K. After the show, even when the decided deal was a failure, Lloyd has $30 million worth of licensed products.
When they entered Shark Tank, the valuation of the company was $750,000 but the deal that they asked for made their valuation drop to $250K.
The entrepreneur told the sharks that the products were produced at a cost of $4.75 and were sold for $19.95 by the retailers.
After Shark Tank, reality didn’t hit as it seemed. Barbara’s deal was never completed whereas John was able to convert his equity to profit. In the end, due to competition, it got knocked off and got shut down in 2012.
Lisa continued to work with John and remembered to share his endeavor and efforts which were done by her for her business.
Competitors analysis:
Treasure chest pets didn’t run for a long duration due to its tough competitors.
- Funzoo Toys
- Ultra Soft toys
- AURORA
- GUND
Is Treasure chest Pets still in business?
The company had to shut down in 2012 because the competitors sold identical products at a comparatively lower rate. They were suffering from a loss and had to close down.
Currently, Lloyd is a business coach in Los Angeles and has around $30 million licensed products under her name.
Interesting Facts:
Few interesting facts about it:
- It was Fluffy
- TC Pets was soft toys of different animals
- It can be an organizer, pillows, and Toys
- Its real founder was Sandra Castillo
- It has to store feature in it where kids can store their small trousers.
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What is Treasure chest Pets?
Treasure chest pets are soft and fluffy toys that are loved and meant for children.
What happened after Shark tank?
After Shark Tank, reality didn’t hit as it seemed. Barbara’s deal was never completed whereas John was able to convert his equity to profit. In the end, due to competition, it got knocked off and got shut down in 2012.