What Happened to the Treasure Chest Pets after the Shark Tank Pitch?
What is Treasure Chest Pets?
Treasure Chest Pets were a line of fluffy animal toys for storing children’s personal belongings and treasures.
The Treasure Chest Pets were rather smart; they could be used as organizers as well as toys, and they had particular chambers for keeping children’s toys.
The toys were beautiful, making them an easy option for children’s gifts.
Who was the Treasure Chest Pets Founder?
Sandra Castillo was the Company’s real founder.
Ms. Castillo asked Ms. Lisa to help her publicize the product (because to her earlier success).
When a deal was struck, Ms. Lisa became the face of Treasure Chest Pests, and she remained so until the firm went out of business in 2012.
As previously stated, only a small number of people are aware that Sandra Castillo is the genuine owner of Treasure Chest Pets.
Lisa Lloyd, a seasoned entrepreneur, was enlisted to bring the product to success.
After reaching an agreement, she provided Ms. Lisa the right to promote the product while pursuing further patents to protect Treasure Chest Pets.
Prior to becoming this dynamic duo, Ms. Lisa and Ms. Castillo were both ambitious entrepreneurs.
The license agreement between the two bodes well for the company and drives it to generate excellent products.
Treasure Chest Pets items were also versatile, serving as toys, pillows, and organizers.
What Happened to Treasure Chest Pets during Shark Tank Pitch?
Lloyd went on Shark Tank season 1 episode 8 looking for $150,000 in return for a 20% share in the company. This translates to a $750,000 valuation.
She shows off her signature stuffed animals, illustrating how the toys include secret chambers for children to hide their small treasures.
The Sharks get down to business, asking about pricing and costs. Lloyd informs them that the toys cost $4.75 to create and sell for around $19.95.
Her direct sales and boutique sales totalled more than $100,000.
She claims she hasn’t contacted major retailers with her wares because she needs money to keep going.
She has sales orders on the table, but she needs money to move further. Kevin O’Leary addressed the issue of toy distribution, describing to it as a “huge jigsaw puzzle.” He’s out because he doesn’t want to invest in a toy line.
Kevin Harrington describes the toys as “seasonal,” suggesting that they are particularly for the holiday season and geared at a certain age range. He’s leaving due to market limits.
Robert Herjavec is intrigued by Lloyd’s plans for the cash. She promises she’ll fulfil the present orders.
Barbara Corcoran contributes $50,000 but demands half ownership of the company, requiring Lloyd to find a second Shark to fund the remaining investment.
Daymond John speaks forward and agrees to the terms of the deal. He’s putting in $100,000 in addition to his distribution contacts and skills, but he wants a 60% ownership in the firm.
According to Robert Herjavec, Lloyd is being devoured alive by the other Sharks. He offers her a $150,000 loan in exchange for equity in her firm.
The possibilities are John and Corcoran for the entire investment at 60%, but with John’s distribution abilities and networks, or Herjavec for a loan with no equity share but the entire investment.
Lloyd accepts John and Corcoran’s offer, noting that she needs the business and distribution assistance just as much as the money.
What Happened to the Treasure Chest Pets Following the Shark Tank Pitch?
While Lloyd was successful in obtaining a Shark agreement for her belongings, the Corcoran deal was never completed.
Although John was able to utilize some of his equity to assist Lloyd, Treasure Chest Pets finally succumbed to the pressures of competition and knock-offs flooding the market.
Lloyd now writes and speaks about her experiences with creation and business, allowing others to benefit from her expertise. She also continues to collaborate with Daymond John.
With the aid of Daymond, Lisa was able to get Treasure Chest Pets into Buy Buy Baby, and sales exploded.
However, the economy suddenly crumbled, and sales fell precipitously. Fuel costs rose, and spending continued to grow. Treasure Chest Pets was in trouble.
She consulted Daymond John, who cautioned her not to “throw good money after bad money.”
Lisa closed Treasure Chest Pets in 2012.
What was Treasure Chest Pets’ net worth?
Lloyd went on Shark Tank season 1 episode 8 looking for $150,000 in return for a 20% share in the company. This translates to a $750,000 valuation.
She accepted an offer of $150,000 for 60 percent from Daymond and Barbara, bringing the price to $250,000.
Who were Treasure Chest Pets’ competitors?
Treasure Chest Pets faced severe competition from the following firms in its market space: Funzoo Toys, Ultra Toys, Aurora, and Gund.
What Happened to MorningHead after the Shark Tank?
What Happened to The Factionist after the Shark Tank Pitch?
Treasure Chest Pets FAQS
1. What was Treasure Chest Pets?
Treasure Chest Pets were toys that could also serve as pillows and organizers. They were stuffed animals with a secret compartment inside.
These toys were produced in various colours, sizes, and species.
2. What Happened to Treasure Chest Pets at the Sharks Tank?
Lloyd went on Shark Tank season 1 episode 8 looking for $150,000 in return for a 20% share in the company. This translates to a $750,000 valuation.
3. Did Lloyd get the deal?
She accepted an offer of $150,000 for 60 percent from Daymond and Barbara, bringing the Valuation to be $250,000.
4. Did the deal between Lloyd and Sharks closed?
While Lloyd was successful in obtaining a Shark agreement for her belongings, the Corcoran deal was never completed.
5. What Happened to Treasure Chest Pets after the Shark Tank?
With the assistance from Daymond John, Lisa was able to get Treasure Chest Pets into Buy Buy Baby and sales exploded.
However, the economy suddenly crumbled, and sales fell precipitously. Fuel costs rose, and spending continued to grow.
Treasure Chest Pets was in trouble. Lisa closed the company in 2012.
6. When was Treasure Chest Pets founded?
Treasure Chest Pets were created in 2007.
7. When was Treasure Chest Pets featured on Shark Tank?
Lloyd went on Shark Tank season 1 episode 8 on October 6, 2009.
8. Who founded Treasure Chest Pets?
Sandra Castillo was the true founder of Treasure Chest Pets.
9. Where was Treasure Chest Pets’ headquarters?
The Company was located in Phoenix, Arizona, United States
10. Why Lisa did closed Treasure Chest Pets?
She closed Treasure Chest Pets in 2012 citing business missteps and a flood of competition from knock offs.
