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Mindy and Brandon Wright presented their potty training calendar system Lil Advents on Shark Tank season 13 episode 19. They sought $300,000 for a 15% stake while showing $320,000 in year-to-date sales. Their calendar retailed at $24.99 with $4.66 production costs. A week before filming, they secured a Hasbro licensing agreement. During the pitch, they outlined plans for retail expansion.
"I would never take this into retail. That is a shrinking business, not a growing one. So that's not a great strategy for me. I don't like that business plan. I wish you the best, good luck. I'm out," Kevin O'Leary stated, pointing out their retail expansion plans.
In the end, Lil Advents left Shark Tank without any deal.
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Shark Tank investor Kevin O'Leary dismissed Lil Advents business strategy
The Wrights walked into Shark Tank carrying their signature product line of themed potty training calendars. Their presentation demonstrated how parents could use the calendar system. Each successful bathroom visit earned a punch on the calendar.
After 30 successes, children received completion stickers as rewards. The Wrights explained their research, showing that children typically need 60-90 successful attempts to complete potty training.
Brandon Wright shared Lil Advent's financial trajectory during the presentation. The profit margins stood at 15% with plans to increase to 20% by 2022. The Wrights explained their manufacturing costs represented $4.66 per unit against the $24.99 retail price. This pricing strategy allowed room for retail markup while maintaining healthy margins.
The discussion moved to their previous business success. Brandon Wright described growing up in low-income housing and building their first Amazon business at age 26. This background story led to questions about their shift from Amazon selling to product development.
After witnessing market changes, the Wrights emphasized their strategic decision to create their own brand. Mark Cuban exited the deal first and stated his potty training days had ended. Daymond John followed, explaining that he did not understand the product's market potential and left the negotiations.
O'Leary focused on their distribution strategy through major retail chains. O'Leary disagreed with this approach. He declared he would avoid retail investment. Lori Greiner compared the product to her experience with Squatty Potty. She determined Lil Advents lacked similar mass market appeal and declined to invest.
Robert Herjavec expressed appreciation for the Wrights' business experience. Despite acknowledging potty training challenges during the pitch, he could not envision the investment opportunity and exited.
The Shark Tank company’s product line included various themes like farm animals, vehicles, unicorns, and dinosaurs. Each calendar cost $34.99. The company also offered supplementary products such as reward stickers and special achievement markers. During their pitch, they highlighted their expanding product range and market presence on Amazon and specialty parenting websites.
The marketplace shift in 2018, marked by Amazon's private label expansion, motivated them to create their own product. They developed Lil Advents and launched it in November 2019. Their first-year performance showed strong market acceptance with $205,000 in sales.
Post tank developments
Despite leaving without a deal, Lil Advents continued its growth trajectory. As Shark Tank Blog reported, the company secured approval for Peppa Pig-licensed products. They expanded distribution through major retailers, including Walmart and Amazon.
Creative Child Magazine awarded them the 2020 Product of the Year. The National Parenting Product Awards gave them a gold star in 2019. The National Parenting Center featured their product line in their reviews.
Their social media presence expanded to 53,000 TikTok followers and 4,900 Instagram followers. Their product line grew to include new character licenses and designs. While exact revenue figures remain private, their retail presence continues through major chains and online platforms.
Shark Tank season 16 is airing on ABC network.
