ReadyFestive Update | Shark Tank Season 14

While preparing for the holidays at home, Kristina Barnes and Liz Voelker were frustrated by the multiple trips to stores to find the right decorations. This led them to create ReadyFestive, a subscription box that delivers curated holiday decor tailored to individual preferences. Plus, it saves time and adds a personal touch to celebrations. Can they secure a deal to take their idea to the next level? Let’s find out in our ReadyFestive update and pitch recap.

SharkResult
Robert HerjavecAccepted offer of $250,000 for 5% equity
Kevin O’Leary $250,000 for 10% equity
Mark CubanNo offer
Daymond JohnNo offer
Lori GreinerNo offer

Shark Tank ReadyFestive Pitch

Shark Tank Ready Festive Update
  • Entrepreneurs: Liz Voelker and Kristina Barnes 
  • Business: Festive Home Decor Subscription Service
  • Ask: $250,000 for 10% equity
  • Result: $250,000 for 18% equity
  • Shark: Robert Herjavec

Liz and Kristina’s quest to bring ReadyFestive to more homes led them to seek an investment in the Shark Tank.

The investment would help them scale operations and expand their marketing efforts to reach more customers who want hassle-free holiday decorating solutions.

ReadyFestive is a subscription service that delivers curated holiday decor boxes. Its goal is to make holiday decorating easy and stress-free.

Customers visit the website to choose a box size and select their preferred holidays or seasons. They also answer questions about how to customize the decor to their style and preferences.

This service saves time and eliminates trips to multiple stores. Furthermore, it provides high-quality items that match customer tastes and fit together perfectly.

Additionally, the company also emphasizes sustainability. It includes eco-friendly options and supports local artisans with handmade items.

Customers are required to purchase at least three boxes per year, with a 10% discount for upfront payment.

Unlike monthly subscription boxes, ReadyFestive aligns with holiday schedules, which do not follow a regular pattern.

Moreover, their pre-order system and strong customer data ensure they maintain sufficient inventory to meet demand.

The boxes are priced at $69 for the Mini, $99 for the Standard, and $159 for the Deluxe, with shipping costs added separately.

Each box delivers greater or equal value compared to self-purchased decor while also saving customers the hassle of visiting multiple stores.

ReadyFestive launched in late 2019, and its lifetime sales reached $1.5 million by mid-2022, including $250,000 in 2020, $500,000 in 2021, and a projected $1.6 million in 2022.

For the first time, the business expects a $300,000 profit in 2022. While the entrepreneurs have yet to draw salaries, their average sale stands at $127, with 40% margins and a low churn rate of 5%.

Additionally, 85% of customers choose the pay-as-you-go option. These metrics demonstrate strong customer retention, with the average customer staying for two years and purchasing 6.5 boxes valued at $750.

Despite their success, the sharks express mixed opinions.

Mark Cuban says they have the potential to grow to $10 million, but he declines to invest.

Barbara Corcoran feels uneasy about the complexity of their product line. She’s out as well.

Kevin O’Leary believes the valuation is too high for his interest and opts out as well.

Lori Greiner admires their achievements but suggests they do not require a shark’s help. She exits the negotiations.

Robert Herjavec, however, appreciates the business’s operational strength and praises the entrepreneurs as capable leaders.

He offers $250,000 for 20% equity. Liz counters with 12%, prompting Robert to adjust to 18%.

After further negotiations, the entrepreneurs agree to $250,000 for 18% equity.

Now, let’s take a look at our ReadyFestive update.

Shark Tank ReadyFestive Update

Our ReadyFestive update found that the deal with Robert Herjavec was successfully finalized.

The funds provided the company with both capital and mentorship to expand its operations.

Furthermore, shortly after their Shark Tank episode aired, ReadyFestive experienced a significant increase in website traffic, sales, and social media engagement.

Based on online reviews, customers appreciated the convenience of ReadyFestive’s curated, customizable holiday decor boxes, which simplified seasonal home decorating.

If you’re interested in checking out the boxes, you can find them on the ReadyFestive website.

When we learn more, we will be back with another ReadyFestive update.

For more updates on companies from Shark Tank Season 14 Episode 9, be sure to check the links below:

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

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Andrew is a lifelong fan of Shark Tank and an entrepreneur at heart. He started Shark Tank Recap because he wanted a single place to track what happens to the companies, founders, and deals after they air on TV. With a sharp eye for business insights and a passion for all things Shark Tank, Andrew makes sure every recap is accurate, engaging, and fun.