What Happened to Fort Magic After the Shark Tank Pitch?
What is Fort Magic?
Fort Magic is a unique fort-building kit in that it contains both straight and curved sticks in addition to a wide variety of connectors (354!).
Each kit includes a manual, seventeen fort designs (including rockets, spaceships, pirate ships, and castles), and one hundred Snap-On fabric clips for attaching sheets or blankets to the fort.
Fort Magic kits include a variety of sticks and connectors of various shapes and sizes. Your child may make an infinite number of robust fort designs with a single kit.
Perhaps they will build a walled fortress, a pirate ship, or a race car.
Who Founded Fort Magic?
Erika Pope of Sarasota, Florida, established Fort Magic in April 2014 and pitched her business on Shark Tank.
Pope was inspired to design Fort Magic because her child expressed dissatisfaction with the fort’s limitations while playing with a dryer box.
Youngsters like “life-sized” creative play, which is why millions of children love the inside fort. Pope realized this and immediately began work on her magnificent construction toy.
Fort Magic was founded in late 2011 following a two-year experimental period.
Fort Magic has been honoured with an absurd number of awards, including the Academics’ Choice Brain Toy Award, the Top 10 PAL Award for Toys of the Year, the Creative Child Magazine Product of the Year Award, the Creative Child Magazine Play Structures of the Year Award, the PAL Award, the Tillywig Brain Child Award, the Parents’ Choice Recommended Award, and Dr. Toy’s Best Classic Award – all for their creativity, construction, educational value, and activity play for children.
Fort Magic is available on Amazon.
What Happened to Fort Magic at the Shark Tank Pitch?
Erika made her Shark Tank season 5 debut on episode 25 in return for $75,000 and a 15% share in her business. This indicates that he has a net worth of $500,000.
She explains her story and makes her pitch, and Robert climbs up onstage and plays with a fort as she distributes samples.
Barb asks Erica for contact information, to which Erica answers that Fort Magic has been open for 18 months.
Over the previous 18 months, she has made $150,000 in sales, almost entirely through the Amazon marketplace.
A single kit has 384 components.
The kits do not contain fabric. The Fort Magic Kit is priced at $199, thus halting all Sharks.
Fort Magic kits are really $40 each.
Lori inquires about Erica’s direct investment in Fort Magic, to which Erica says that she has invested $50,000 and her mother has contributed $200,000.
With the inclusion of a third investor, the division between Erica and her mother was decreased from 50/50 to 50/50 in exchange for the considerable investment.
This third investor has guaranteed Mark $200,000 in exchange for around 35% of the equity, causing Mark to question about the equity’s worth.
Erica and her mother shared ownership of the corporation 50/50, dividing the shares in thirds; Erica, her mother, and the third investor are now all equal owners.
Erika may be able to negotiate with the Sharks because she owns 70% of the company.
Barbara feels Erica is unstable; she admires her vitality but wants to know her top three priorities when she comes to work the next day. Erica is unable to react, and Barbara concludes that she is not hyper-focused, and therefore departs.
Mark Cuban believes Erica is moving at a speed of 200 miles per hour, which means he has no idea which direction she is heading in and is hence out.
Kevin O’Leary feels that the majority of families today cannot afford $200 for children’s clothing and that the price should be less than $100. He has left.
Lori feels Fort Magic is pricey and should include fabric for the different constructions that may be made with the toy; hence, she is boycotting the product.
Robert Herjavec believes she will sell a large amount of Fort Magic during her Shark Tank appearance and chooses to make an offer, but fears he will have difficulty keeping her focused on his team.
He is offering $75,000 in exchange for a 50% ownership in the firm. She inquires as to what Robert intends to do with the 50%, and the other Sharks concur that this was her most intelligent question/statement.
He reappeared, bringing the phrases distribution and management with him.
Erika responds with 25%, but Robert is adamant, and she declines his offer.
What Happened to Fort Magic After the Shark Tank Pitch?
Erika sold out of kits shortly after the episode aired, and business remained quiet for a period.
By adding fabric covers and add-on kits, she upped the price to $139. Additionally, smaller, less expensive starter sets are available.
As of December 2021, they are still in business, but are no longer selling on Amazon. Annual revenue is between $500,000 and $600,000.
What is the Net Worth of Fort Magic?
Erika makes her Shark Tank season 5 debut on episode 25 in return for $75,000 and a 15% share in her business. This indicates that he has a net worth of $500,000.
Who are the Competitors of Fort Magic?
Fort Magic has no known competitors.
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Fort Magic FAQS
How much will Fort Magic cost?
Fort Magic cost now $139
What are Fort Magic components made of?
The Fort Magic kit contains 384 wooden sticks in a variety of lengths and 16 tubes of different widths as well as connectors and instructions. Parents supply the fabric.
Are there different kits for boys and girls?
There are no gender-specific kits, but some people have found that boys like to build more fantasy structures (forts, ships, etc.) while girls like to build bedrooms or a classroom.
Who founded Fort Magic?
Erika Pope of Sarasota, Florida, established Fort Magic in April 2014
How was Fort Magic born?
Fort Magic is an outgrowth of Erika’s needs for her kids, who expressed dissatisfaction with the fort’s limitations while playing with a dryer box.
How much was Erika Pope seeking in the Shark Tank?
Erika Pope was seeking $750,000 for 15% of Fort Magic
Did Fort Magic get a deal on the Sharks?
No, none of the Sharks were willing to invest in Fort Magic.
What happened to Fort Magic after the Shark Tank?
Erika sold out of kits shortly after the episode aired, and business remained quiet for a period.
By adding fabric covers and add-on kits, she upped the price to $139. Additionally, smaller, less expensive starter sets are available.
Is Fort Magic still in business?
Yes, as of December 2021, they are still in business but are no longer selling on Amazon. Annual revenue is between $500,000 and $600,000.
Where is Fort Magic located?
Fort Magic is located in Sarasota, Florida.
What year did Fort Magic begin operations?
In 2010, Fort Magic, LLC was founded.
What is the website address for Fort Magic?
The website for Fort Magic is www.fortmagic.com
