Boarderie was featured during
Shark Tank Boarderie Update
- Entrepreneurs: Rachel Solomon and Aaron Menitoff
- Business: Online Edible Gifting
- Ask: $300,000 for 5% equity
- Result: $300,000 for 9% equity
- Sharks: Lori Greiner
To kick things off, Kevin O’Leary wanted to know where Boarderie was being manufactured. Rachel told him that the company had access to a 15,000-square-foot space in the state of Florida that handled production. Thousands of units could be produced per day and then shipped to the customer the very next day.
Meet Boarderie: The first and only company shipping pre-arranged, catering-quality cheese and charcuterie boards directly to your door, nationwide. Boarderie sources the highest-quality and award-winning cheeses from around the world to bring you perfectly-paired, impeccably-sourced assortments that are delightfully simple to send. These handcrafted boards are the ultimate gift for birthdays, saying thank you, anniversaries, holidays and more.
Costs to produce a single unit are about $90, while it wholesales for $150. While margins aren’t that great, the sharks were still interested in hearing about the company’s lifetime revenue. During the previous calendar year, the company generated just under $2 million and expects to double gross revenue to about $4 million, while also remaining profitable.
Boarderie as a company expects to net about $400,000 at the end of the 2022 calendar year.
Robert Herjavec and Mark Cuban weren’t interested in the company, so he dropped out without investing. Kevin O’Leary believed that the business was very risky, but offered $300,000 and wanted 17.5% equity.
Barbara Corcoran offered $300,000 for 15% equity, but also offered a $300,000 line of credit. Lori Greiner decided to offer $300,000 for 9% equity.
After some discussions, Aaron and Rachel decided to accept Lori’s offer and with the help of Mark Cuban were able to get her down to 9% equity for a $300,000 investment. Let’s jump ahead and give you an important Boarderie update.
After receiving some free exposure from
The future looks bright for Rachel and Aaron and can’t wait to see what our next Boarderie update has in store.
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