Bryan Perla is the founder of the Little Elf. The company sells a device that makes it quite easy for people to wrap gifts. The device also features a paper cutter. Perla appeared on the 11th season of the famous ABC show, Shark Tank.
He pitched his business idea to the shark investors on the 9th episode hoping to secure a deal of over $150,000 for 15% equity in the firm. Did he manage to impress the participating sharks?
What Does The Little Elf Firm Do?
The Little Elf is believed to be the Little Elf firm’s first product that they launched. By description, the Little Elf is a device that one can use to easily wrap their gifts without having to encounter any struggles. All that the users have to do is to put this device around a roll of wrapping paper, pull it out to the amount of paper they require, and slide the device up the roll.
The device manages to cut the wrapping paper at the same time while one slides the device up the roll. That way, one can meticulously cut their wrapping paper without having to waste any paper and it will prevent the paper from tearing. It is possible to learn more about the product and business by watching the Youtube Video or by following the firm on Instagram.
How Was The Company Launched?
Bryan Perla developed the first version of the Little Elf while he was still in high school. After all that, he wanted to take his concept a notch higher to explore where it might lead. This general idea was born out of the fact that Bryan wanted to develop a safer and more accurate means of cutting wrapping paper.
He took this concept and created a Kickstarter campaign to launch a business before he went on to carefully pitch his idea to the sharks on the Shark Tank show. What offer did he get after he pitched his idea on Shark Tank?
After appearing on the show, Bryan Perla asked for an investment deal of over $150,000 for 15% equity in his firm. The investor told his story and the sharks ended up in a bidding war. Eventually, Bryan accepted a deal from Lori Greiner of $150,000 for 20% equity in the firm.
Where Is Little Elf Today?
The business is an easy gift wrap and paper cutter company that is still in operation. Analysts estimate that this business is worth around $1 million dollars. After the Shark Tank episode, the deal that Bryan made with Lori Greiner never went through, but Bryan kept going.
Little Elf Company is still thriving recording $900,000 in annual sales in November 2021 with their product available on different online stores including Amazon. It is also possible to buy their products directly from their online store.