Lil Advents, a potty training reward system created by Mindy and Brandon Wright, garnered attention on Season 13 of Shark Tank. Though they didn’t secure a deal from the Sharks, the company has continued to grow and find success in the baby and toddler market.
In this Lil Advents Shark Tank update, we’ll explore the details of their pitch and deal, discuss whether Lil Advents has gone out of business, and examine the company’s worth.
The Lil Advents Pitch And Deal At Shark Tank
Mindy and Brandon Wright entered the Shark Tank seeking an investment of $300,000 for a 15% equity stake in Lil Advents. Their product, Potty Time ADVENTures, aimed to make potty training fun and engaging for children and parents alike. The system involves an advent calendar-style reward chart that reveals a collectible toy each time a child successfully uses the potty.
The Wrights presented impressive sales numbers, with $320,000 in year-to-date sales and a promising growth trajectory. They also shared their personal story of developing Lil Advents after facing challenges while potty training their daughter Ruby. Despite their compelling pitch and strong sales, the Sharks did not make an offer, leaving the couple to continue growing Lil Advents on their own.
Is Lil Advents Gone Out of Business?
Contrary to some assumptions, Lil Advents has not gone out of business following their Shark Tank appearance. In fact, the company has expanded its product offerings and found success in the retail market. Lil Advents products are now available through major retailers such as Amazon, Walmart, and specialty parenting sites.
Moreover, the company has secured licensing deals with Hasbro, allowing them to incorporate popular children’s characters like Peppa Pig and My Little Pony into their products. Lil Advents has also built a strong social media following, with over 53,000 TikTok followers and nearly 4,900 on Instagram, showcasing the brand’s resonance with its target audience.
What Was Lil Advent Worth?
While the exact current worth of Lil Advents is difficult to determine without access to their financial records, the company’s growth since its Shark Tank appearance suggests a significant increase in value. With their expanding retail presence, licensing deals, and strong social media following, Lil Advents has solidified its presence in the baby and toddler market.
The Wrights’ previous experience in launching an $8 million business selling products on Amazon has likely contributed to their ability to grow Lil Advents and navigate the competitive landscape. This growth, coupled with their innovative approach to potty training that has earned them awards such as the 2020 Product of the Year Award from Creative Child Magazine, indicates that Lil Advents is a thriving business with a promising future.
Business Overview
Lil Advents continues to innovate and expand its product offerings in the baby and toddler market. Their unique approach to potty training, which combines the excitement of an advent calendar with the reward of a collectible toy, has resonated with both parents and children.
The company’s success in securing licensing deals and penetrating major retail channels speaks to their ability to navigate the competitive landscape and build a loyal customer base.
Conclusion
In this Lil Advents Shark Tank update, we’ve seen that despite not securing a deal from the Sharks, the company has continued to grow and find success in the baby and toddler market.
Their innovative approach to potty training has earned them awards, licensing deals, and a strong customer following. With their expanding retail presence and dedication to creating engaging, rewarding experiences for children and parents alike, the future looks bright for Lil Advents.
