Boarderie is an online edible gifting company that offers charcuterie and cheese boards. It is one of the first brands to sell catering quality charcuterie and cheese boards.
Initially, the company was named Cheeseboard. But later, they changed the name to Boarderie. Established in 2020, the company offers high-quality edible items.
The founders of the company are Aaron Menitoff and Rachel Solomon. They entered the Shark Tank show to raise funds for their business. They asked for $300,000 in exchange for 15% equity. Now let’s find out if the sharks liked the products enough to invest.
Shark Tank Boarderie Update
- Entrepreneurs: Aaron Menitoff and Rachel Solomon
- Business: Online Edible Gifting
- Ask: $300,000 for 5% equity
- Result: $300,000 for 9% equity
- Sharks: Lori Greiner
Founders Aaron and Rachel presented an impressive pitch before the sharks. To take the lead, Kevin O’Leary asked the couple about the manufacturing location of the products. To which Rachel replied that they have a 15,000 sq ft space in Florida where the products are made every day.
It takes around $90 for the production of a single unit while the wholesale rate is $150. Although the margins were not very impressive, sharks still showed interest.
The previous year, the company’s gross sales were around $2 million. They expect it to double in the future. At the end of 2022, the company made a profit of $400,000.
After hearing the financial details of the company, Mark Cuban and Robert Herjavec decided to leave the deal without making an offer. However, Kevin O’Leary was still interested. He proposed a counteroffer of 17.5% equity for $300,000, stating that the business is risky.
On the other hand, Barbara Corcoran offered $300,000 in exchange for 15% equity. Along with that, she added $300,000 more as credit. Lori Greiner also joined the line by offering $300,000 for 9% equity.
After having a short discussion, the founders decided to go with Lori Greiner’s offer.
Boarderie is known for offering catering quality charcuterie and cheese boards. They use only organic ingredients for their food items. They have a variety of boards, and each of them contains cheeses dried fruits, nuts, meats, crackers, olives, jam, and more.
Besides selling charcuterie boards, the company also provides gifting services to corporate offices. These boards include high-quality cured meats and cheeses from England, France, Italy, Croatia, Canada, Turkey, and many other countries.
The boards are also made of fine acacia wood. The good thing is that the boards are reusable. At present, the boards are sold at $129.
Aaron and Rachel started the company in 2020. Previously, they owned a catering company in Palm Beach, Florida for 20 long years. However, things went downhill after the 2020 pandemic hit.
The two teamed up to build a new business and that’s how Boarderie was born. By November 2022, the company sold over $60,000 in boards. Currently, the company has four partners – Rachel Solomon, Aaron Menitoff, Angel Jerez, and Julie Menitoff.
The founders entered the show with the hope of securing funds to expand their business.
