Play Maysie Shark Tank Update – Shark Tank Season 14
Kayla Lupean hopes to make a play for Play Maysie, her portable dollhouses, in Shark Tank episode 1417. Lupean became a single mom by chice back in 2017. She divorced in 2013 and hadn’t met “Mr. Wonderful,” so she decided to adopt a daughter to experience motherhood. The adoption came by chance when a pregnant couple asked her mother’s medical practice if they knew someone looking to adopt. The adoption came together in just 8 weeks and Kayla’s daughter, Elsie, was born in October.
Fast forward to Christmas day, 2020 and Kayla had an epiphany. When she saw her daughter playing with her dollhouse, she envisioned a portable dollhouse. The Play Maysie dollhouses look like old school metal lunchboxes when closed. They open on each side to reveal a dollhouse complete with furniture. Everything, including the dolls, uses magnets to hold everything together. The dollhouses cost $48 and dolls cost extra, but they’re included in any one of the $78 bundles offered on the website. You can also buy them in person at The Arcade Mall in Cleveland where she has a shop.
Kayla used $25,000 of her savings to get the first prototypes made and set up a Kickstarter campaign. The campaign was a success; it raised $29,475 in April, 2021. She delivered finished products in November, 2021. She’s been selling the dollhouses at a brisk pace since. Play Maysie was named “Best Preschool Toy of 2022” by Parents.com. Kayla also donates dollhouses to young children entering the foster care system. She’s likely in the Shark Tank to get help with inventory.
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Posts about Play Maysie on Shark Tank Blog
Play Maysie Shark Tank Recap
Kayla enters the Shark Tank seeking $150,000 for 10% of her company. She says her daughter loves to play, but as a first time mom, she was unaware of the stresses toys bring to a household. She was spending more time trying to find missing pieces than her daughter spent time playing with her toys. Toys should bring joy to a home, not a mess. That’s why she created Play Maysie.
Play Maysie is aportable dollhouse for quailty play on the go and less mess at home. They were inspired by old school metal lunch boxes that open to reveal two interchangable rooms. The magnetic floors mean no more loose pieces or lost pieces. When play time is over, simply close the case and put the box away. Whether you’re on the road or at home, Play Maysie makes play time and clean up time easier.
The Sharks examine their samples. Two characters are included but there are a total of six. Kayla made them gender neutral because she believes doll play should be inclusive for girls and boys. She wants to build out the line of cases and expand the character base. The first book of character stories was just completed and is awaiting illustrations. She wants kids to get to know the characters and their stories. Kayla says she’s going to be the next big toy brand in America.
Lori wants to know Kayla’s story. Kayla tells about her divorce in 2013 and how she came to adopt her daughter. In Christmas, 2020 she lost her photography business due to Covid-19, so she took her savings and kick started the business. Landed cost is $13 and they sell for $49.99 – that’s a 70% margin. Kayla launched her Kickstarter campaign in March, 2021 with a $25, 000 goal and ended up raising $30,000 all organically. She took the $30,000 and used it for the molds for the tins. She sold her car to help pay for that too. She received the product December 15 and ended up closing out 2021 with $175,000 in sales.
In 2022 she ran into an issue. She had a committment on a purchase order, but they were not clear on the number of units they wanted. Kayla ordered 5000 units. The purchase order was only a few hundred pieces. She took on an investor who pumped $85,000 into the business for the inventory and shipping; the investor has 10% of the company. Sales year to date (mid 2022) are $55,000 and Kayla projects $400,000 in sales by the end of the year. She has 9000 units on hand which represents $500,000 in revenue.
Daymond sees the vison for growth and he likes the product but as for the business, he’s out. Kevin says it’s admirable what she’s done but it’s not a business for him; he’s out. Lori loves what Kayla has done, but it’s not the right product for her; she’s out. Mark thinks if she keeps it small, she can make $200,000 – $400,000 a year in a few years, then worry about scaling. He thinks she’s trying to do too much too soon, he’s out. Barbara thinks it’s a very well thought out product and that Kayla has courage. She offers $150,000 for 30% plus a royalty of $5 per unit until she gets her money back. Kayla counters with $150,000 for 20% or $200,000 for 30%. Barbara counters with $150,000 plus a $100,000 credit line, plus the royalty, for 30%. When Kayla reminds Barbara about her other investor, Barbara drops to 20% plus a $7 royalty until she gets her money back. Kayla takes that deal.
Play Maysie Shark Tank Update
The Shark Tank Blog constantly provides updates and follow-ups about entrepreneurs who have appeared on the Shark Tank TV show. The first rerun of this episode is in July, 2023, just three months after the original air date. At this time, there is no evidence the deal with Barbara has closed. Kayla still hasn’t released that first book, either.
The Shark Tank Blog will follow-up on Play Maysie & Kayla Lupean as more details become available.
