The finale season of Channel Ten’s commercial reality program for business owners, Shark Tank, aired on Thursday night, and it was arguably the finest one yet. The Sharks were playing with the figures trying to beat each other and four of them left the pitch without contracts.
Three of the four bargains were struck by several sharks in the finale, which saw many of the sharks migrate in groups.
Why this confusing attitude among the Sharks? Let us explore the article and find out.
Quick Facts
| Founders name: | Sally Copus |
| Business details: | A miniature magical door children can attach to their bedroom wall allowing fairies to come and visit |
| Founded in: | 2011 |
| Location : | Australia |
| Asking of Company: | $325,000 for 20% equity |
| Accepted Deals: | $325,000 for 20% equity and the option of a $325k Loan |
| Shark on board (Investors): | Naomi Simson and Glen Richards |
| Shark Tank Episode: | Season 02 Episode 13 |
| Net Worth | $1.625 million |
| Business Status: | Active |
| Last Updated: | Mar 13, 2024 |
| Social Media |
About the Founder
Lil Fairy Door was developed by supermom and architect Sally Copus. Her encouragement was from her children, especially the ones who struggled to deal with Copus’ thyroid cancer diagnosis. Lil Fairy Door was a method through which a mother supported her daughter at a trying time.
Founding the Lil Fairy Door
Sally Copus came up with a straightforward but endearing concept of a fictitious doorway that allowed fairies could enter a kid’s room. The charming door is decorated with mailboxes, tiny mushrooms, along with other adorable accents.
The mailbox may accommodate magical letters. The brief letters are written to spur on, encourage, and congratulate kids for acts of kindness.
Shark Tank Appearance
Sally proposed the idea of Lil Fairy Door to the Sharks and asked for $325,000 for a 20% share. She said that more than 1000 businesses carry the company’s brand after 5 years in operation.
Copus revealed that she wanted to gain awareness in the US so they could make $900,000 in profitability the following fiscal year. The Sharks were in disbelief.
Steve Baxter gave Copus the precise deal she requested right away, $325,000 for 20% interest. Suddenly the cut-throat competition began!
The other Sharks converged after Baxter’s proposal was placed on the table. The first to make a response to an offer was Simson. She offered $ 325,000 for a 20% stake.
Richards promised to beat the proposal. In addition, to match the deal, Andrew Banks imposed the condition that he would aid Copus in flexing proceedings forward to the US. The agreement was matched when Janine Allis threw her proposal on the table.
Simson brought up Richards’ knowledge of operations and suggested an alliance, with all parties sharing 10% of the total capital. Richards provided a bonus, increasing the stock’s worth to $650,000 by offering a $ 325,000 credit for operational funds.
Simson-Baxter’s offering was challenged by Janine, Baxter, and Andrew who proposed $ 486,000 for 30%.
The Shark started arguing whether a loan or a capital or a combined loan, tossing Copus’s potential value.
After a brief period of tension, Copus smartly agreed to the Simson-Baxter bargain and was congratulated by each Shark as the angels sprayed balloons all around the room.
After Shark Tank
Lil Fairy Door is no more in operation, notwithstanding the joy of the result and the splendor of the pitch. There is a lot of feedback regarding timings for delivery and customer support on an online platform that assesses internet purchases. Online searches turn up numerous imitation fairy door companies.
The valuation of the company before its Shark Tank appearance was $1.625 million. However, following the pitch, they gradually deteriorated. Surprisingly, now their valuation is nil.