Treasure Chest Pets
Going two-for-two on Tucson, AZ, businesses after Notehall previously in the same episode, Treasure Chest Pets appears to pitch a line of organizers for children that are disguised as plush toys. Essentially, it's a way to keep kids rooms clean while giving them a fun place to hide their toys.
After having invested $100,000 of her own money in Treasure Chest Pets, the company earned $100,000 back in the previous year. Currently, the product is in over two hundred stores but none of the bigger retailers because of a lack of capital to fulfill the purchase orders.
Proving once more that having unfilled purchase orders is the surest way to get a shark onboard, Daymond and Barbara team up to offer $150,000 for a whopping bite of 60% in equity, effectively dropping the value of the company from a very reasonable $750,000 to just $250,000.
In an update that aired in the penultimate episode of the Season One, the entrepreneur stated that after appearing on Shark Tank, sales of Treasure Chest Pets were up "1000%". Additionally, Barbara, Daymond, and her have taken the product to Buy Buy Baby and Bed, Bath & Beyond to gauge their interest in carrying the product.
Treasure Chest Pets was featured in Episode 2.07 of Beyond The Tank. In the segment, it's mentioned that sales doubled after the Shark Tank appearance and that Treasure Chest Pets did get into Buy Buy Baby but that the recession hit the company hard and people were no longer interested in paying $30 per unit. That, combined with increased fuel costs meant that the business began to lose money and, in 2012, Treasure Chest Pets closed.
The entrepreneur claimed that she burned a lot of her bridges with the business' failure. Daymond, meanwhile, stated that he learned that he needed a much bigger and better team to handle the deals he made on Shark Tank.
As of this Beyond The Tank episode, the entrepreneur is now a business coach in New Orleans, LA.