Ready Festive was a company featured on
Shark Tank Ready Festive Update
- Entrepreneurs: Liz Voelker and Kristina Barnes
- Business: Festive Home Decor
- Ask: $250,000 for 10% equity
- Result: $250,000 for 18% equity
- Sharks: Robert Herjavec
Ready Festive customers can select from more than a dozen different base options for their particular holiday or season. Users will be asked to sign-up for a minimum of three seasons or holidays and can pay through a subscription plan or upfront entirely. Liz and Kristina believed that their customization options through their platform is what makes them different than their competition.
Depending on the size of the box, Ready Festive sells their boxes for between $70 and $150. Kevin O’Leary wanted to learn about the concrete sales numbers for this particular business. The two entrepreneurs shared the exciting news that their company had generated more than $1.5 million in gross lifetime sales in three years.
Mark Cuban thought about the financial information, but he wasn’t excited about it. He decided to drop out of the negotiations. Barbara Corcoran and Kevin O’Leary also decided to drop out because they believed the business was too small to be worth the investment at its current size.
Lori Greiner also admitted that she wasn’t interested because she didn’t believe the business would benefit from a shark, but Robert Herjavec had a very different opinion. Robert wanted to make an offer of $250,000 for 20% equity in Ready Festive.
Liz Voelker and Kristina Barnes really wanted to knock off some more equity, and were able to get Robert to drop his equity ask to 18%. Ultimately they decided to accept his offer after failing to get him to come down even lower. Now let’s take a look at our Ready Festive update.
Liz and Kristina seem poised to close their deal with Robert Herjavec as the 2022 holiday season approaches. The airing of the episode could not have come at a better time for these two entrepreneurs, especially as their company receives a major marketing boost from all of the show’s viewers that are looking to subscribe for the holiday season.
It’ll be interesting to see how things go in the coming months after the holiday season. However, having Robert on their team should make for a promising future Ready Festive update.
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Jeremy is a regular contributor at Shark Tank recap. He has a ton of passion for the show and enjoys researching information about what all the companies are up to now. His favorite Shark Tank companies are The Cookie Dough Cafe and Kronos Golf!