What Happened to Wee Can Shop After Shark Tank?
What is Wee Can Shop?
Wee Can Shop enables parents to include their children in the shopping experience by offering them small customized shopping carts. While their parents watch, children may go shopping for their loved ones.
Shopping may be a fun activity. They usually accompany our children to the store. They never actively include children in the shopping process, though.
Wee Can Shop was founded by Kimberly Foley, Hope Foley, and Matthew Foley.
When they couldn’t find enough money to keep their business running, the siblings decided to close it down. A birthday bundle has been added to the Wee Can Shop experience.
Wee Can Shop was created by whom?
Wee Can Shop was created by Kimberly Foley, Hope Foley, and Matthew Foley.
Kimberly, Hope, and Matthew all have a passion for children. They were seeking for a method to get their children involved in the buying process. They investigated various choices, but none of them met their requirements.
Toys”R”Us and Wal-Mart did not enable children to purchase products in the same way that adults do at internet businesses. They considered starting an internet boutique.
With the exception of a teaser tweet by Kimberly Foley in 2019 signaling that they are ready to make a comeback, the trio has almost no social media presence to illustrate their activities before to joining the organization or their current activities.
The siblings believe that children as young as two years old will enjoy their child-sized store, which allows little clients to shop for gifts for their loved ones.
The shop’s one-of-a-kindness is supplemented by a birthday party service and an online presence, transforming the company into a “triple threat.”
What Happened to Wee Can Shop’s proposal on Shark Tank?
The three decided to pitch their concept to Shark Tank investors in exchange for financial, marketing, and distribution support.
Kimberly and Matthew Foley entered the Shark Tank asking for $200,000 in exchange for a 30% stake in their firm, which valued at $666,667.
Kimberly reads the Wee Can Shop story aloud from a large story book, describing how the children explore a little village of merchants using child-sized carts.
Kevin O’Leary asks if parents have spurred a response against the premature consummation of children. Kimberly says that their parents have been very encouraging, encouraging them to open franchises.
Robert Herjavec wants to know how much they make. Matthew claims that their profit has increased by 100 percent every year for the last six years. In the final year of operations, profitability was $13,000. Kevin Harrington is visibly upset about the low figure.
Robert Herjavec has a question for Kimberly: If they can’t earn a living from their store, what gives them the idea that they can sell it as a franchise to someone else? Kimberly believes it can only survive in a high-end retail setting.
Kevin O’Leary was dubious. He claims that the company is not yet profitable and questions the idea of growing before the concept has been proven.
The Sharks recognize the passion put in the business, but Kevin O’Leary warns the two that the store needs earn $200,000 in yearly revenue to be viable.
Nothing was more terrible, he claims, than a business that is not lucrative; one must fight evil with evil and close it down. As a result, Kevin O’Leary departed from the deal.
Barbara Corcoran agrees, describing the store as a “passion that you enjoy” rather than a business. She had also left.
Kevin Harrington adopts a different stance from Kevin O’Leary. Before expanding into franchises, he tells the Foley siblings to “continue building the business.” He maintains he would bring his child there to shop, but as an investment, it makes little sense. He had also left.
There are just two Sharks left. Daymond “You’re failing at this point,” John says. Failure, on the other hand, to me is only an opportunity to resume more cautiously.” He declines to make a proposal.
Robert Herjavec was the last Shark. “At the time, there is no data to support growing this company,” he tells the siblings. He finally exits, and the Foleys are exited the pitch without a deal.
What Happened to Wee Can Shop After Shark Tank?
Following the Sharks’ inability to close a deal, Kevin O’Leary lectures the Foleys, informing them that the business would never earn a profit in the long term. He tells them to “scribble down a deadline by which they must make a profit.”
The twins exit the Shark Tank certain that their business is essential. Kimberly Foley isn’t about to abandon the family dream.
The Wee Can Shop stayed operating for a few more years until closing due to the financial pressures of serving a specialized clientele. In this case, Kevin O’ Leary appears to have been accurate.
Wee Can Shop’s Net Worth
During and after the pitch, the firm was valued at $666,667; however, the company is no longer in operation and hence the company net worth is not available.
Wee Can Shop FAQs
What is Wee Can Shop famous for?
Wee Can Shop is known for its unique collection of products that are personalized to the child’s age and size. Its customers can purchase toys, clothes, books and even “Wee Can Shop-themed” birthday party experiences as well.
How do you become a franchisee of Wee Can Shop?
Franchising partnerships require the owner to be present when a customer is shopping at any Wee Can Shop location.
If my child will be interested in Wee Can shop, when will I be able to start shopping there?
Customer should buy their child a Wee Can Shop-themed birthday party experience and get them involved with the process of choosing gifts for loved ones and others.
How was Wee Can Shop work?
Wee Can Shop owners put together the individualized shopping service, helping customers find unique gifts that are tailored to his or her needs. Customers browse at their leisure, while the owner offers assistance when needed.
Wee Can Shop is a children’s recreational center where kids can spend quality time in their free time. Wee Can Shop stands for the amazing toys and gift products designed for children from birth to ten years old.
Who was the target audience of Wee Can Shop?
Wee Can Shop was a one-stop place for the kids to shop for all their needs. This store had items for infants, toddlers and children. It also has a store inside the store that is designed for birthday parties. What makes this store different from other retail shops is that it caters to children of all ages, sizes and gender. Wee Can Shop does not sell clothing or toys on a wholesale basis but mainly sells its products to individual customers who visit directly from the shop’s website.
Was Wee Can Shop a scam?
Wee Can Shop was not a scam. It is a children’s recreational center where kids can spend quality time in their free time. What customers should know about Wee Can Shop is that it was always a small store but there was never any doubt in the minds of its owners that this would not become a large successful business.
Was Wee Can Shop work?
Wee Can Shop was a successful business. What one should know about Wee Can Shop was that it had only been opened for three years but it already has its own customer base.