Entrepreneurs Nancy Bush and Sue Kruskopf pitched their end-of-life business during
If you’re short on time, here’s a quick overview of what happened to My Wonderful Life after
Nancy Bush and Sue Kruskopf appeared on
|Mark Cuban||No offer|
|Kevin O’Leary||No offer|
|Robert Herjavec||No offer|
|Barbara Corcoran||No offer|
|Daymond John||No offer|
Shark Tank My Wonderful Life Update
- Entrepreneur: Nancy Bush and Sue Kruskopf
- Business: Personalized funeral planning service
- Ask: $100,000 for 10% equity
- Result: No deal
- Shark: None
Nancy and Sue walked into the tank and immediately introduced the sharks to their personalized funeral planning service, My Wonderful Life. They offer a free website, where you can plan exactly what you would want at your funeral or celebration of life.
Dying is a part of life, but in many cases we don’t get to choose exactly how we want our funeral to be handled. Nancy realized this when her husband died.
Even though he had been sick for a long time, she still didn’t know exactly what he wanted his celebration of life to look like, when the time came. Despite this, she and Sue planned the memorial event, and attendees were impressed.
In fact, they came up to them at the celebration of life, and asked how to get their own custom funeral planning service. This is when business was ultimately born.
Offering in-depth customization options, the My Wonderful Life service can help take care of funeral planning in a tailor-made way. You basically visit the website, and upload a picture of yourself.
From there, you answer a variety of questions, that then builds a summary of what you want to take place on that day, down to every detail. You can even opt to pre-pay for the event.
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Then, you elect up to six people to be in charge of carrying out your plans. They get emailed with all of the details at that point.
They shows the sharks what the website offers, and they also highlight how the industry happens to be a billion-dollar one.
However, Kevin O’Leary wants to know how they plan to make money. Nancy and Sue explain that they have a payment plan, and they are going to make 5% commissions from every sale through insurance companies.
They have already partnered with one of the largest insurance companies in the country. Additionally, they’ve developed a product called the My Wonderful Life Plan, which allows people to set aside any amount of money to pay for their funeral.
That said, there is nothing proprietary or exclusive about the deal with the insurance company.
At the time of filming, they have 7,000 users, and have had the website up and running for 3 years. In terms of sales, Nancy and Sue admit that they have yet to make any money.
Kevin and Mark Cuban highlight the problems with the lack of exclusivity in a highly competitive industry. This ultimately causes Mark to go out.
Unfortunately, Daymond follows for the same reason.
Barbara Corcoran says the model hadn’t been tested yet, and ultimately, the entrepreneurs were too early in the process. For this reason, she went out.
Eventually Sue and Nancy try to explain how the model can grow, and how it could become profitable over time, but the sharks are unmoved in the end.
Robert eventually drops out, leaving Kevin as the last shark standing. Sadly for the ladies, he can’t see how he will make money from the business, so he too is out.
Without any offers from the sharks, Nancy and Sue have to leave without a deal. Do you think the company prospered after that?
Keep reading our My Wonderful Life update to find out more.
Research for My Wonderful Life update reveals that the company succeeded despite the lack of investment. Traffic to the website increased immediately once the episode aired, and it has since become one of the largest funeral planning services online.
It has a current annual revenue of $900,000. You can check out their services on the My Wonderful Life website.
They offer a 30 day free trial on their website, and two membership tiers. One is $2.99 a month, and the other is $29.99 a year, but they run promotions with discounts occasionally.
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Jennifer is an avid Shark Tank fan that has been watching the show for years. She serves as Senior Editor at Shark Tank Recap and ensures that all our information is accurate and that our posts are up to date. Her favorite Shark Tank products are Le-Glue and Ring!