Booking online gifts for your loved ones is a great gesture of love and care. You can gift fresh and best options to your family and friends despite being distant. But giving fresh fruits and boards is no longer a healthy and good trend. Now giving fresh cheese and nut boards is the new board option for the ones you care about. You can customize it and get it delivered from Boarderie.
Boarderie is an online platform to customize and deliver a healthy gift box. Meat, nuts, fruits, and other options make the platter quite healthy. Entrepreneurs Aaron Mentioff and Rachel Solomon are partners who came up with this amazing business idea during a pandemic to send love to their faraway families.
The pitch was amazing and sales were growing high. The business was even profitable. They demand for $300,000 with 5% equity. Sharks were impressed with the idea, sales, and revenue. But will they invest in a gift box business? You will be shocked in the end.
Boarderie net Worth
Rachel and Aaron asked for a $300k investment in exchange for 5% equity in their company. This meant they valued their company at $6 million. They made a deal with Lori Greiner for $300k in exchange for 9% of their company. This new deal valued their company at approximately $3.33 million. After the show aired, Boarderie saw a big increase in website traffic, sales and social media exposure. With an estimated 10% yearly growth rate (typical business growth), the current net worth of Boarderie is about $4.88 million.
Boarderie Shark Tank Update
What Happened to Boarderie After Shark Tank
After the Shark Tank appearance, the sales increased and revenue skyrocketed. By the end of the year, they had a good online presence, and their website was in good shape. They are still in business and they’re growing.
Did Boarderie get a deal at Shark Tank
Yes, Baorderie gets a deal with Lori on $300,000 for 9% equity.
| Shark(s) name | Offer & Demand | Counteroffer | Accepted? |
| Robert Herjavac | Out | N/A | No |
| Lori Greiner | #1: $300,000 of 13% equity #2: $300,000 of 12% equity #3: $300,000 of 9% equity | #1: $300,000 of 8% equity #2: $300,000 of 10% equity | Yes |
| Kevin O’Leary | $300,000 of 17.5% equity | N/A | No |
| Barbara Corcoran | $300,000 in cash with $300,000 as a credit line in exchange for 15% equity | N/A | No |
| Mark Cuban | $300,000 of 10% equity | N/A | No |
Founders & their Backstory
Aaron has years of experience in hospitality restaurants. While he studying culinary, he planned a business. After 15 years, he runs a top-notch catering business with his wife, Julie in southern Florida. As the pandemic hit, the business dropped to the ground. Then he hustled for nine months and started an online business, Boarderie.
Rachel moved to Florida with her fiance to stay in quarantine with her family and work remotely. Aaron used to deliver his products to local businesses and she joined him.
Initial Pitch
Rachel and Aaron introduced themselves. They proposed for $300,000 of 5% equity. Entrepreneurs then explained how ordering edible gifts from the internet is no longer a good choice. As they boring and old fashion. It’s time to revolutionize the online gifting world with Boarderie.
Boarderie is the first ever chef-quality charcuterie gift box that you can order online. This company provides fresh cheese and meat with an easy-to-unpack setting. Easy to set and enjoy the fresh cheese flavor. They then concluded the pitch and asked Sharks to join them. Sharks were served the charcuterie boards to taste the product.
Queries about the product
Sharks were impressed with the taste. Aaron informed me that these cheese boards are not customized and are made on the assembly line. They can produce up to 3000 products in a certain period. Robert inquired about the taste of the cheese as it tasted so fresh. Aaron informed me that the cheese production cycle is within 24 hours. They made it fresh and then shipped it the very same day so the customer received it fresh.
Kevin inquired about the production facility. Rachel informed me that they have a 15,000-square-foot production premises in Florida. Lori inquired about the price. Rachel informed that the charcuterie boards presented to Sharks cost $91 to produce and sold $154 in retail through vendors online with delivery charges of $229 in total.
Robert inquired about their business idea. After his background story then he continued to share his business journey. They started with one popular online retailer and later others joined in. Aaron also informed me that they made $1.8 million in sales last year. This shocked the Sharks. He further continued to inform that they made it to Costo in the third quarter of the same year.
Kevin inquired about the estimated sales this year. Rachel replied that it will be $4 million this year. Mark inquired if they were making money. Rachel replied with a yes and they’re making $400,000. Kevin inquired if they sell directly to the customers. Rachel replied that they launched their website in July this year. Kevin inquired how it was going. Rachel replied that it was working well as they were making 30,000 in sales in the first month.
Kevin inquired about their customer acquisition cost. Rachel replied that it was between $40 to $50 for the first few weeks. She further informs that they are frustrated with no customer data and with huge demand they can keep track of it. Robert inquired if Rachel was in the catering business where you met Aaron. Rachel stated her backstory which revealed that Rachel was his first customer.
Kevin inquired if they are 50 50 partners. Rachel replied that they own 75 % of the business together with a third party. Kevin then inquired about the amount of investment he made. Rachel answered that the third party invested 750,000 as he set up the production facility. Kevin inquired why the business is proprietary as there are 5 big competitors in the market. Rachel answered that this fact scared them too at the beginning but their facility is set up such that it helps to manage a huge number of orders.
Robert inquired about the amount of investment they invested. Aaron replied that he and his wife invested $300,000 as a home equity line of credit, a $150,000 FPA loan, and $100,000 against the catering business. Robert then Rachel about the investment amount. Rachel replied that she invested $2 million to build up the production facility. This shocked the Sharks.
Shark’s Responses & Final Deal
Robert was the first one to step out as he didn’t think the evaluation was correct and didn’t want to be a small shareholder. So he stepped out. Mark stated that their business model can be copied and big companies don’t want competition which is why he doesn’t want to invest. So he backed out too. Kevin made a deal.
He offered $300,000 of 17.5%. Lori inquired about their plans with the investment money. Rachel replied that they would need money to put in inventory and help with a direct-to-consumer strategy. Barbara jumped in with a deal. She offered $300,000 in cash with $300,000 as a credit line in exchange for 15% equity. Lori was bombarded with a deal. She offers $300,000 with 13% equity. Three offers to choose from but they want an investor who possesses expertise in direct-to-consumer strategy.
They took a couple of seconds and counter-offered. Rachel asked for $300,000 with 8% equity. She declines. They counter-offered as 10%. Lori revised with 12% equity. Mark stepped back in with his offer of $300,000 with 10% equity. Lori revised again to 9% equity. Aaron and Rachel accepted Lori’s deal and left the stage cheerfully.
What Went Wrong with Boarderie on Shark Tank
The pitch was amazing and sales were great too. But Sharks sped out as it concerned them to be a small shareholder in it. All other Sharks stepped out and then again stepped in to grab a deal.
Product Availability
Boarderie is an online business that delivers custom-made charcuterie boxes as gifts to its customers. Moreover, there are different gift boxes for different occasions. Corporate, birthdays, anniversaries, and any occasion to name can be delivered with these chef-style charcuterie boards. You can check their website for better options.
Conclusion
Rachel and Aaron are on Shark Tank Season 14 for their online charcuterie board business, Boarderie. It’s an online business that delivers customized charcuterie boards at your delivered locations. You can choose, customize, and deliver fresh healthy options to your relatives and friends.
Entrepreneurs demand for $300,000 for 5% equity. They pitched the deal well and showcased their profits. But the product impressed every Sharks to the extent that they stepped out and got back in the deals. Except for Robert everyone presented their deals. But the couple went with Lori after a few rounds of counter offers. They were excited and left the stage cheerfully.
Hello everyone, I’m Sara Javed. I’m an IT professional expert with project management and design skills. Besides writing, I love playing video games, designing digital art, and reading books. I love Shark Tank due to its innovative business idea and unpredicted reactions of Sharks. This keeps me glued to the screens to watch the next catchy moment. Read more About me.