Create a Castle Shark Tank Episode 4 Update & Net Worth

Create a Castle Shark Tank Episode 4 Update & Net Worth

Kevin Lane and Laurie Lane made their appearance on Shark Tank Season 14, Episode 4 with their innovative product Create a Castle, seeking $350,000 for 10% equity. This castle-building kit for kids and adults helps people construct detailed sand and snow castles effortlessly.

The Lanes impressed the sharks with the versatility of their product, which can be used in both summer and winter. After some negotiation, they secured a deal with Kendra Scott for $350,000 for 20% equity.

At the time of the pitch, the business had achieved $600,000 in sales in 2021 and projected to hit $3 million by the end of 2022.

The sharks acknowledged the product’s appeal, and its potential was enhanced when Kendra Scott stepped in with her expertise in branding. As of 2023, Create a Castle is thriving, and its net worth is estimated at $1.5 million.

What Is Create a Castle? How Does It Work?

Create a Castle is a unique bucket kit that allows users to quickly and easily build elaborate sand or snow castles. Designed to eliminate the frustration often associated with castle building, the product uses stack-and-play split mold technology that makes the process simpler and more enjoyable.

With this kit, users—whether kids or adults—can craft intricate castles in minutes without worrying about their creations crumbling.

The product line includes different models such as the Pro Tower Kit, Deluxe Tower Kit, Basic Tower Kit, and Castle Light Kits. Each model is designed to meet various needs, whether for a simple sandcastle or a more elaborate structure.

Available for purchase on Amazon, Walmart, and the company’s official website, these kits can be used indoors and outdoors for sand and snow castle-building fun.

• Save

Create a Castle Shark Tank Full Episode: What Happened at Shark Tank Pitch?

When Kevin and Laurie Lane entered Shark Tank, they presented their idea of an all-in-one castle-building kit that works on both sand and snow. They asked the sharks for $350,000 in exchange for 10% equity, valuing their company at $3.5 million.

 The Lanes explained how their product solves the frustration of traditional castle building and emphasized its appeal to both summer beachgoers and winter enthusiasts.

The Lanes also highlighted their impressive sales figures:

• 2021: $600,000 in sales.
• 2022 (Projected): $3 million in sales.

• Save

They mentioned that although they suffered a $100,000 loss in 2021 due to high shipping costs related to the COVID-19 pandemic, they anticipated $300,000 in profit for 2022 with margins between 22% and 27%.

Several sharks raised concerns about the company’s seasonal nature and profitability. Mark Cuban, Kevin O’Leary, and Lori Greiner opted out. However, Kendra Scott saw potential in the product’s year-round usability and offered $350,000 for 20% equity. Daymond John made a competing offer of $350,000 for 25% equity with a licensing option. Ultimately, the Lanes chose to go with Kendra’s offer of 20% equity.

Create a Castle Shark Tank Pitch Summary

• Save

What Happened to Create a Castle After Shark Tank?

Following their successful pitch on Shark Tank, Create a Castle experienced a surge in sales. The deal with Kendra Scott helped increase the brand’s visibility, and the product became available in major retailers like Sam’s Club and Costco, and online platforms like HSN.

 The company also expanded its product line with new items such as the Buildmaster, Castle Light Kits, and the Dig and Hold Anchoring System.

By August 2023, Create a Castle was thriving with an annual revenue of $3 million. They also secured a presence in 35 independent retail stores and expanded internationally to Australia. The company has participated in several trade shows, and co-founder Laurie Lane was nominated for the 2023 Wonder Women Awards in Toys, Licensing, & Entertainment.

How Much Is Create a Castle Worth?

As of 2023, Create a Castle is estimated to be worth $1.5 million. This valuation reflects the company’s rapid growth, with $3 million in sales for both 2022 and 2023, up from $600,000 in 2021. Their partnership with Kendra Scott, expansion into new retail outlets, and increased product range have helped the company solidify its place in the market.

Is Create a Castle Still in Business?

Yes, Create a Castle is still in business as of April 2024. The company continues to expand its reach, now available in 35 retail stores and international markets such as Australia. Their product line has grown, and they maintain strong sales in both the summer and winter seasons. With the backing of Kendra Scott, the company is well-positioned for continued growth and success.

Which Episode Number Was Create a Castle on Shark Tank?

Create a Castle appeared on Shark Tank in Season 14, Episode 4, which aired on October 7, 2022. During their appearance, they successfully secured a deal with Kendra Scott, who invested $350,000 for 20% equity in the company. The exposure from the show helped boost sales and expand the company’s retail presence.