Highlights
- Chris and Elisa Cirri sought $150,000 for 30% equity in Santa’s Enchanted Mailbox, valuing the business at $500,000.
- The product is a magical mailbox that sends letters to Santa when the flag is raised, accompanied by music and chimes.
- Despite initial success with over 100,000 units sold, no Shark invested due to challenges with manufacturing costs and the seasonal nature of the product.
Overview
| Category | Details |
|---|---|
| Name | Santa’s Enchanted Mailbox |
| Founders | Chris and Elisa Cirri |
| Industry | Toys, Holiday Products |
| Product | A magical mailbox for sending letters to Santa |
| Funding Sought | $150,000 |
| Investment Ask | $150,000 |
| Equity Offered | 30% |
| Valuation | $500,000 |
Chris and Elisa Cirri seek a Shark for Santa’s Enchanted Mailbox, their direct to Santa mail system, in Shark Tank episode 1308, the 2021 “Holiday Special.” The product is a “magical mailbox” that instantaneously sends off a letter to Santa when the flag is raised. Kids put their letter in the mailbox and raise the flag. A little song plays and a chime goes off and, when the kid opens the mailbox, the letter is gone; it’s been sent to Santa!
They got the idea for the Enchanted Mailbox back in 2016. Their son would put pictures for Santa in a specially decorated box, then either Chris or Elisa would distract him and the other parent would sneak the picture out of the box as if it were sent off magically. Chris loved the reaction and imagined what it would be like to have a “real” magical mailbox. In 2017, the Cirri’s took the plunge and started their business. By 2019, they sold over 100,000 units!
The mailbox itself is shaped like a real mailbox, but it’s a little smaller. Each unit costs $39.99. They’ve sold their mailboxes worldwide. Chris’ stepfather-in-law made the first prototype out of wood, then he did a 3d printed model. When they tried it out on his son, it worked and they knew they were on to something. They secured patents and a manufacturer and went to work. Now, you can find Santa’s enchanted Mailbox in Bed Bath and Beyond, Walmart, Hobby Lobby and Amazon. Chris is still employed full time as a sales manager for an online payment processing company, perhaps he wants a Shark’s help so he can quit his job and be a full time Santa’s helper. Will the Sharks mail in an offer?
Company Information
Video
Posts about Santa’s Enchanted Mailbox on Shark Tank Blog
Santa’s Enchanted Mailbox Sends Mail to Santa
Santa’s Enchanted Mailbox Shark Tank Recap
Chris and Elisa enter the Shark Tank seeking $150,000 for 30% of their business. They talk about how their product works and they demonstrate it. A video of kids reacting to the mailbox rolls onstage and the Sharks get a kick out of it. Chris tells the story of how they invented, patented, and trademarked the product. They also explain their licensing arrangement. The first year, they did $120,000 in sales. In year two, a big box retailer placed a $1.3 million order.
The third year (2020), they had issues with the Covid-19 pandemic. Elisa’s hair salon was shut down for most of the year and they struggled with balancing work and home schooling. So they went “more conservative.” The big box retailer said the product “under performed,” but they dropped the price and sold out. Their first year, the licensing agreement gave them 4% of sales and in the next two years it was 6%. They currently use Mr. Christmas’ manufacturer, but they are paying a markup.
The Sharks say they got a lesson in licensing. They cost $17.25 landed and they sell for $49.99. The “magic price point” is $24.99, so they want to drive down manufacturing costs. They want to be able to tell the story of the product more effectively and need help with marketing.
Kevin once again says he doesn’t like the seasonality; he’s out. Mark says there is too much complexity; he’s out. Daymond says the challenge is getting the price down and demonstrating it; he’s out. Barabara has five seasonal businesses and thinks those entrepreneurs work harder due to the short window they have. She thinks it costs too much though; she’s out. Lori thinks it’s a hero, but the price is too high; she’s out.
Santa’s Enchanted Mailbox Shark Tank Update
The Shark Tank Blog constantly provides updates and follow-ups about entrepreneurs who have appeared on the Shark Tank TV show. After the show taped, they dropped the price to $39.99. The Shark Tank Blog will follow-up on Santa’s Enchanted Mailbox & Chris and Elisa Cirri as more details become available.
