Boarderie Update | Shark Tank Season 14

When the COVID-19 pandemic shut down Aaron Menitoff and Rachel Solomon’s thriving catering and events business, they saw a growing demand for gourmet food. To meet this need, they created Boarderie, offering pre-arranged artisan cheeseboards. With a focus on quality and convenience, their solution brought a taste of luxury to customers stuck at home. Will Aaron and Rachel get a deal? Let’s find out in our Boarderie update and pitch recap.

If you’re short on time, here’s a quick overview of what happened to Boarderie after Shark Tank.

Aaron and Rachel entered Shark Tank Season 14, seeking $300,000 for 5% equity in their online edible gifting business. After making their pitch, they were able to get a deal with Lori Greiner for $300,000 for 9% equity.

In terms of a Boarderie update, the company experienced a 1,000% sales increase, reaching $70 million by the end of 2022. Further, they expanded their workforce to over 70 employees, partnering with ARC Clients to include developmentally disabled adults.

Shark	Result
Lori Greiner	Accepted offer of $300,000 for 9% equity
Barbara Cocoran	$300,000 in cash and a $300,000 line of credit for 15% equity
Kevin O’Leary	$300,000 for 17.5% equity
Mark Cuban	No offer
Robert Herjavec	No offer

Shark Tank Boarderie Pitch

• Entrepreneurs: Rachel Solomon and Aaron Menitoff
• Business: Online Edible Gifting
• Ask: $300,000 for 5% equity
• Result: $300,000 for 9% equity
• Shark: Lori Greiner

To kick things off, Aaron and Rachel explained to the sharks how they plan to use Boarderie to improve how people enjoy cheese and charcuterie at home.

However, to make this a reality, they need $300,000 to expand production and keep up with surging demand for their pre-arranged charcuterie boards.

Boarderie creates pre-arranged artisan cheese and charcuterie boards. These boards come on sturdy acacia wood and ship nationwide.

Additionally, individuals can use the boards for events or quiet nights at home. Businesses also benefit from the company’s corporate gifting options.

These include custom branding to match their needs. Both groups enjoy a convenient and high-quality gourmet experience.

The company offers boards in small, medium, and large sizes. Instead of customizing each board, it uses an assembly line that allows it to produce up to 3,000 boards daily.

Aaron explained that their standard is next-day delivery, achieved through their 15,000-square-foot production facility in Florida.

The large board costs $91 to produce, $154 to wholesale, and $229 to retail, including shipping.

Aaron shares that his lifelong experience in hospitality and restaurants began in culinary school, where he started a small catering business.

He and his wife grew it into one of South Florida’s largest catering companies, serving royalty, athletes, and celebrities.

Yet, when the Covid-19 pandemic hit, their business came to a halt. This led them to pivot into eCommerce, starting with one online retailer.

Over time, they secured partnerships with Williams Sonoma and DoorDash, achieving $1.8 million in sales in 2021.

They launched in Costco in Q3 of the same year, and by 2022, projected sales were $4 million, with a profit of $400,000.

Further, they launched a direct-to-consumer website in July 2022 and made $30,000 in sales within the first month.

However, despite their success, Aaron and Rachel faced challenges with their business model.

Using third-party websites means they don’t own their customer data, limiting their ability to re-target them.

Customer acquisition costs during their initial tests ranged from $40 to $60.

The entrepreneurs reveal they own 75% of the company, with an outside partner investing $750,000.

Kevin O’Leary says the competition in the edible gift market is stiff. Despite this objection, he offered $300,000 for 17.5% equity, reflecting what he perceived as a high level of risk.

Barbara Cocoran offered $300,000 in cash and a $300,000 line of credit for 15% equity, while Lori Greiner countered with $300,000 for 13% equity.

Mark Cuban expressed concerns about the product’s replicability by larger corporations. For those reasons, he’s out.

Similarly, Robert Herjavec declined to invest, citing the low equity offered in return for the investment.

Eventually, Rachel and Aaron negotiated Lori’s offer down to 9% equity, sealing the deal.

Keep reading our Boarderie update to see what Aaron and Rachel are up to right now.

Shark Tank Boarderie Update

Our Boarderie update found that the deal with Lori Greiner closed successfully.

The exposure from the show led to a remarkable 1,000% increase in end-of-year sales, reaching over $70 million in lifetime sales.

This surge in demand established Boarderie as the largest shipper of overnight packages in South Florida.

To meet this increased demand, the company expanded its workforce to over 70 employees, including developmentally disabled adults hired through the ARC Clients organization.

Furthermore, Boarderie’s success attracted significant media attention, including being featured on Oprah’s Favorite Things list.

Our Boarderie update found that they hold the Guinness World Record for the largest charcuterie board, weighing 769 pounds and measuring 20 feet by 14 feet.

The company has also established successful retail partnerships with Williams Sonoma and Costco.

Boarderie also expanded its product offerings to include themed and specialty boards, catering to various customer preferences.

Rachel and Aaron’s future looks bright, and we can’t wait to see what our next Boarderie update has in store.

For more updates on companies from Shark Tank Season 14 Episode 7, be sure to check the links below:

• FRSH Update
• Action Glow Update
• Legacy Shave Update

Before you go, check out our Shark Tank Season 14 page for more updates.