To provide kids with a better shopping experience, brother and sister team Matthew Foley and Kimberly Foley opened a gift shop called Wee Can Shop, where kids can shop and pay by themselves.
These siblings came to Shark Tank seeking funding. Did they get an investment, and how is their store doing now? Let’s find out.
| Company Name | Wee Can Shop | |
| Founder/Co-Founder | Matthew Foley and Kimberly Foley | |
| Founded | 2006 | |
| Product | Gift Items shop for kids | |
| Asked For | $200k for 30% equity | |
| Final Deal | No Deals | |
| Shark | No Sharks | |
| Episode | S1 E12 | |
| Air Date | Jan 15th, 2010 | |
| Business Status | Out of Business | |
| Website | Visit Website | |
| Headquarters | Green Bay, Wisconsin, United States | |
| Lifetime Sales | $0.5M *estimated | |
| Buy and Watch | Buy Now | Amazon Prime |
Business Pitch Episode Recap
Matthew asked the Sharks for $200,000 in exchange for 30% equity, and Kimberly gave a presentation about their business. They mentioned that their revenue last year was $13,000, but they still plan to sell franchises.
The shocking thing is that they have invested $120,000 in this business, but after 3 years, they have not seen any return.
Kevin O’Leary said this business is not sustainable because children cannot spend money freely according to their wishes, so he is out. Barbara Corcoran said this is not a real business because it has not been able to make a profit yet, so she is out.
Kevin Harrington suggested dropping the franchise model idea and focusing on growing the single shop instead. He also said that this business is not investable for him, so he is out.
Daymond John and Robert Herjavec also declined to invest.
Sharks Offers list!
| Sharks | Offers |
|---|---|
| Kevin Harrington | No Offer |
| Kevin O’Leary | No Offer |
| Robert Herjavec | No Offer |
| Barbara Corcoran | No Offer |
| Daymond John | No Offer |
| Founder’s (Countered) | No Counters |
| Final Deals | No Deal |
Wee Can Shop Shark Tank Update
For a few years after their Shark Tank episode aired, Matthew and Kimberly focused on growing their business. However, due to financial pressure, they eventually had to shut it down.
Kevin O’Leary had advised them that the business wouldn’t be sustainable, so they should shut it down quickly to avoid further financial losses.
Wee Can Shop’s co-founder Kimberly is currently working as a Supply Chain, Customer Service, and Fulfillment Supervisor at TreeHouse Foods, a product company.
Here we have shared the progress update of more businesses from Season 1.
