Kimberly and Matt Foley are from Hawthorne, New Jersey. Wee Can Shop is a quirky little community where kids may shop for the ones they love, according to Kimberley Foley. Children use pint-sized shopping carts and look for the ideal present. According to Kimberly Foley, Wee Can Shop teaches youngsters to consider others while gift-wrapping time, which is part of why it’s so unique.
Wee Can Shop is one of their biggest achievements, and they really believe that Wee Can Shop has the potential to become the next big retail chain. The Sharks are going to love them, and they hope they will provide them with enough investment and business expertise to help them take Wee Can Shop to greater heights [1].
On the hit show Shark Tank, entrepreneurs have the opportunity to pitch their businesses to a panel of millionaire investors. If the sharks like what they see, they may invest in the business. Recently, a company called Wee Can Shop appeared on the show and managed to snag an investment from sharks. But what happened after the show aired?
What Is Wee Can Shop?
Children can shop for their loved ones while under the supervision of adults. This gives children a positive purchasing experience.
Wee Can Shop was founded by Kimberly and her siblings Hope and Matthew. When the siblings were unable to raise funds to keep the business operating, they closed it. The addition of a birthday present made Wee Can Shop extra special [2].
Who Is The Founder Of Wee Can Shop?
Kimberly, Hope, and Matthew Foley founded Wee Can Shop because they had a shared interest in children and wanted to find a way to involve their kids in shopping. After considering several options that didn’t fit their needs, they decided to start their own business.
Unlike online retailers, the stores of Toys’R’US and Wal-Mart did not permit children to purchase merchandise in the same way as adults. They thought about creating an online boutique specifically for kids.
Except for a 2019 tweet by Kimberly Foley that merely alludes to their return, the group has virtually no social media presence going back or present. The siblings believe that small children as young as two years old would enjoy visiting their kid-sized shop, which allows pint-sized consumers to look for birthday presents for their family.
It’s a “triple threat” with a unique shop, birthday party service, and online presence that add up to become a triple threat.
Wee Can Shop Before Shark Tank
Kimberly Foley and her family started Wee Can Shop, which is now the only company of its kind. According to Kimberly, this has been one of their most significant accomplishments to date. Moreover, she believes that Wee Can Shop could be the next big retail chain store.
Kimberly Foley believes the Sharks will love them, and, hopefully, they will give Wee Can Shop the investment and business know-how needed to take it to a new level.
The company started in Foley’s garage and then moved to a small office. It has now grown to a full-fledged business, with employees and a warehouse. The company sells products that are both fun and practical, such as clothes, toys, furniture, and more.
Wee Can Shop has been featured on many television shows, including Shark Tank, Good Morning America, The View, The Today Show, CNN Headline News, Fox & Friends, and more. They have also been written about in magazines like Entrepreneur, Forbes Small Business Magazine.
Wee Can Shop On Shark Tank: The Pitch
How Much They Were Asking On Shark Tank?
Kimberly and Matthew Foley approach the sharks with their company, Wee Can Shop. Asking for $200 thousand dollars in exchange for a 30% stake in the business, Kimberly reads from an oversized storybook to explain how children use kid-sized carts to explore a small town made up of different stores [3].
Did They Get The Deal?
Mr. O’Leary asks them whether parents have provoked a resistance against the early commercialization of children.
Kimberly’s parents have been supportive of their endeavor, suggesting they establish franchises. Robert Herjavec is interested in their earnings and Matthew proudly reports that for the last six years, 100% each year.
In the final year of operation, the firm generated a profit of $13,000. Kevin Harrington appears concerned by the low amount.
Robert Herjavec asks Kimberly why she thinks their shop can succeed as a franchise when it’s struggling to bring in enough income to sustain itself. Kimberly replies that they only believe this is possible if the store is situated in a prime location.
The Sharks see how much the duo has invested in their business, but Kevin O’Leary informs them that the store must generate $200,000 in annual revenue to make it justified to stay open. He believes that a business cannot survive if it’s not profitable and one must shut down an unprofitable company – referring to it as evil.
As a result of this mentality, Kevin O’Leary backed out of the deal. Barbara Corcoran concurs with him and exits the store herself; she sees it more as a “hobby that you love” than an actual company [4].
Kevin Harrington disagrees with Kevin O’Leary. He tells the Foley siblings to “expand the company” before branching out into franchises. He says he would take his kid there to shop, but it isn’t a smart investment in my opinion. He’s no longer involved.
The final Shark, Robert Herjavec, tells the siblings that their company lacks the data to warrant developing it further. He then subsequently exits the Shark Tank, and the Foleys will leave without a deal.
Wee Can Shop Now In 2022
Wee Can Shop was featured on Shark Tank a few years ago and remained in business for a while afterward, but they were unable to build the franchise they wanted. They struggled to keep the business going and eventually had to pause operations in 2012.
In 2019, Kim stated on social media that Wee Can Shop was open again, but the firm has continued to have problems keeping its doors open.
The Wee Can Shop has more than a hundred and fifty Facebook fans, according to the official page. The company received 150 likes, as well as a rating of 4.3 out of 5, according to the company’s Facebook fan page. People still leave comments on the Wee Can Shop wall thanking them for featuring Kimberly Foley on Shark Tank and remarking how inspiring she was.
The siblings depart the Shark Tank thinking their business has a significant purpose. Kimberly Foley is unwilling to relinquish her family’s ambition. The Wee Can Shop remained in operation for a few more years before succumbing to the cost pressures inherent to serving a specialized market. Mr. Wonderful appears to have been correct in this instance, at least.
The Net Worth Of Wee Can Shop
The business is currently inactive, and there is no accurate estimate of the net worth. However, given that the company was valued at $666,667 during the Shark Tank pitch, it is safe to say that the net worth has decreased significantly since then [5].
Wee Can Shop is no longer in operation, so there is no way to calculate accurate net worth. However, we can safely say that the value of the company has decreased significantly since it was last featured on Shark Tank.
When Kimberly Foley appeared on Shark Tank in 2012, she and her siblings were seeking $200k for a 20% stake in their company, Wee Can Shop.
FAQ
How can I get in touch with Wee Can Shop?
Wee Can Shop is currently in the process of setting up a new website and can be reached at info@weecanshop.com in the meantime or you may use their official Facebook page [6].
What were the company’s total sales in 2021?
Some of the challenges that Wee Can Shop faced in 2020 included supply chain disruptions, increased competition, and Covid-19-related shutdowns. Despite these challenges, Wee Can Shop was able to grow its sales by 30% in 2020. In 2021, Wee Can Shop is on track to double its sales.
Wee Can Shop attributes its success to its focus on customer service and its ability to quickly adapt to changes in the market. The company has also invested heavily in marketing and continues to expand its product offerings.
Who is the most successful Shark Tank?
There are a few contenders for the title of most successful Shark Tank entrepreneur. One is Robert Herjavec, who has an estimated net worth of $200 million. He’s built his fortune by investing in tech companies like Brazzers and Shopify.
Another is Daymond John, who has a net worth of $300 million. He’s best known for his work with the fashion brand FUBU.
And then there’s Mark Cuban, who is worth an estimated $800 million. He made his money through investments in startups like eHarmony and Zoom Video Communications [7].
So which one of these Sharks is the most successful? It’s hard to say definitively, but it seems safe to say that Mark Cuban is the most successful Shark Tank entrepreneur.
Is Shark Tank still running in 2022?
The short answer is yes, Shark Tank is still running in 2022. The show has been a rating success for ABC, averaging around eight million viewers per episode.
There’s no word yet on when the show will end, but it seems likely that it will continue to be a mainstay of ABC’s lineup for years to come. So if you’re looking for a way to get your business idea in front of some of the most successful people in the world, Shark Tank is still the place to do it.
Is Shark Tank scripted?
Although Shank Tank appears unscripted, the producers do exaggerate specific elements to make it more enjoyable for spectators. Pitches generally last around two hours; however, the show is cut down to 10-minute segments for each company [8].
What is the biggest product in Shark Tank history?
Bombas, which has sold more than $225 million worth of socks and T-shirts, has seen the most success on Shark Tank. One item of each item sold is donated to assist the homeless as a way for businesses to give back [9].
Another business that has seen success after appearing on Shark Tank is Scrub Daddy. Scrub Daddy makes cleaning supplies that are safe for both people and the environment. The company has made more than $209 million in sales since appearing on Shark Tank.
Do sharks invest their own money?
It’s worth noting that while the sharks are compensated for appearing on the program, any money they put into the businesses of the people they select is entirely their own. Shark Tank investors contribute their own funds and do not get them from the show.
Who owns Shark Tank?
He’s most popularly known as the founder of FUBU, and can be seen regularly appearing as an investor on Shark Tank – a hit ABC reality show [10].
Does it cost to go on Shark Tank?
It doesn’t cost anything to appear on Shark Tank, but you will have to give up a percentage of your company if one of the sharks invests in your business. You also need to be prepared to answer some tough questions from the sharks. But it can be worth it – appearing on Shark Tank can help you get exposure for your business and attract new investors.
Who invested most in Shark Tank India?
Strive, a web3 startup in the NFT space has raised $500K in pre-seed funding from leading investors including Shark Tank India’s Anupam Mittal, 100X.VC, Let’s Venture, GrowX ventures, Amey Mashelkar (Jiogennext Fund), Saurabh Agarwal (founder of Zebpay), Sandhya Patel, and YPO. The funds will be used to launch Strive’s marketplace and exchange for fractionalizing blue-chip NFTs for retail investors [11].
How difficult is it to get on Shark Tank?
Each year, 45,000 people apply to be on the show. But less than one percent of applicants get to pitch their idea to the sharks — and of that group, only a handful actually make it on TV.
Useful Video: Wee Can Shop in the news
References
- https://gazettereview.com/2016/08/wee-can-shop-after-shark-tank-update/
- https://biznewske.com/wee-can-shop-shark-tank-update/
- https://www.sharktankblog.com/business/wee-can-shop
- https://sharktanktales.com/wee-can-shop-shark-tank-update/
- https://biznewske.com/wee-can-shop-shark-tank-update/
- https://www.facebook.com/Wee-Can-Shop-39999057026/
- https://financhill.com/blog/investing/who-is-the-richest-shark-on-shark-tank
- https://techiegamers.com/shark-tank-scripted/
- https://www.investopedia.com/articles/investing/082415/10-most-successful-products-shark-tank.asp
- https://en.wikipedia.org/wiki/Daymond_John
- https://www.businesstoday.in/crypto/story/shark-tank-indias-anupam-mittal-others-have-invested-500000-in-this-start-up-343039-2022-07-28