Create a Castle Update | Shark Tank Season 14
Kevin Lane and Laurie Lane were a couple that appeared on
Shark Tank Create a Castle Update
- Entrepreneurs: Kevin Lane and Laurie Lane
- Business: Castle Building Kit for Kids
- Ask: $350,000 for 10% equity
- Result: $350,000 for 20% equity
- Sharks: Kendra Scott
It didn’t take long for the sharks to call out Create a Castle for being a seasonal summer-based product, but they came prepared. The castle-building kits don’t only work on the beach during the summertime, they also work in the snow during the wintertime. The sharks were very impressed that there were multiple ways to build castles in the sand and snow.
Build detailed sandcastle kingdoms with no mess or crumbling; BuildMaster is a tactical sensory toy set for kids with 25 pieces including 2.65 lbs reusable Castle Magic Sand, castle casts, building tools, storage case, and play-mat
The simple kit for Create a Castle is just $10 dollars for customers to purchase. The pro-kit costs five times more for customers at a price point of $50 dollars. The kits cost between $2 dollars and $10 dollars to produce, depending on which kit.
During the 2021 calendar year, sales reached about $600,000 dollars. During 2022, Kevin and Laurie project that they will reach $3 million dollars in sales over the course of the calendar year. They also projected about a 10% profit, which results in $300,000 dollar net profit at the end of the year. The main reason for the boost in sales was additions to stores like Sams Club and Costco.
Kendra Scott was interested and made an offer of $350,000 dollars for 20% equity. Daymond was also interested and quickly made an offer after Kendra, but he wanted a little bit more equity at 25% for the same $350,000 dollar investment. Kevin and Laurie thought about the offers and ultimately decided to accept Kendra’s offer of $350,000 for 20%.
Now that we know Kevin and Laurie made a deal with Kendra, let’s check in for a Create a Castle update.
The company was positively received by viewers of
We can’t wait for our next Create a Castle update, because we think it’s going to be a good one!
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Don’t forget to check out our Season 14 products page too!