Lil Fairy Door founder Sally Copus offered Shark 20% of her business at $325 000. This leads to the value of the company at an impressive $1.625M.
Sally Copus, founder of Lil Fairy Door
Sally mentions that the idea for her product came from her two daughters while she was researching for her kid’s birthday, and she stumbled upon the concept which she knew would help families worldwide.
Taking time to impress the sharks
Shally describes her product for the sharks. She mentions that it’s a tiny door you place on the ground or high up on the shelf where fairies come out at night to drop little notes and presents for well-behaved children.
According to her, the idea for this business came from her fairy-crazy daughter, and so she embarked on a 7-month journey of the secret fairy business, which sold out in a week after it was launched.
Naomi mentions that she’s a proud customer as she has also bought for many customers.
Lil Fairy Door 300 New stockists in the last 45 days
Going further to describe her business growth, she mentions that she’s had 300 new stockists in the last 45 days. She also mentioned that last year they did $700 000 in sales, and since the start of the financial year, they’ve had $868 000 in sales, and they are looking to make $5.1 million by the end of the year.
The sharks couldn’t contain their excitement after hearing these figures.
Steve hurriedly jumps into the offer giving her exactly what she wants.
Glen makes a banter out of Steve’s hurry claiming that he’s just interested in the money.
All four sharks make an offer matching Steve’s initial offer, which is precisely what she wants, 20% for $325 000 as they all bargain to offer Sally a mouth-watering deal! Sally’s fairy dust got all the judges to hook line and sinker.
However, Sally would like to have more than one shark on her team, so she has sharks pair up into groups. The sharks pair up into two groups competing with each other to invest in Sally’s fairy door business.
Naomi and Glen team up, offering sally 20% for $325 and another loan of $325 000 while Andrew teams up with the two other sharks offering sally $486 000 for 30% as she gets a vast pool of experience from three sharks on her team.
A massive decision for Sally, but unfortunately for team Andrew, Sally agrees to work with Naomi and Glen.
It was a wonderful time for everyone as they all exchanged hugs and handshakes.
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Sally decides to work with Naomi and Glen; thus, her business will grow like never before.