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Tonight on Shark Tank, the owners of Ready Festive attempt to convince the sharks to invest in their home decor company. Here is everything you need to know about Ready Festive, the shark’s reactions, and where you can buy their products.
What Is Ready Festive On Shark Tank?
Liz Voelker and Kristina Barnes are San Francisco entrepreneurs who started the company Ready Festive. The ladies wanted to get a $250,000 investment from the sharks in exchange for 10% equity in their company. It is a home decor gift box company and here is how it all went down.
Ready Festive offers over a dozen different options for holiday or seasonal gift boxes. These gift boxes include creative decorations for any holiday or season. The gift boxes run between $70 and $150, and it looked to be a hit. The duo said they have made more than $1.5 million in gross lifetime sales in three years.
The women found their chances on Shark Tank dwindling down when Mark Cuban, Barbara Corcoran, and Kevin O’Leary all dropped out. Cuban wasn’t excited about the idea. Barbara and Kevin thought the business was too small to invest in. Lori Greiner also dropped out because she didn’t think the business needed an investment.
However, Robert Herjavek was interested. He offered $250,000 for 20% equity in the company. They counteroffered and ended up with $250,000 in exchange for 18% equity.
Where Can You Buy Ready Festive From Shark Tank?
Ready Festive is offered on its own website at readyfestive.com. Each gift box sent out has “on-trend, quality decorations and festive items” that people would normally have to buy at several different stores. Their mission statement is to “surprise, inspire and help you prepare for the holiday.”
This is a subscription service. There are three tiers – the Mini Box at $69, Standard Box at $99, and Deluxe Box at $159. Each box has as little as four or up to over 10 items included. The company also promises that the total retail value of the items is always more than the customer pays with the subscription deal.
They offer boxes for each of the 10 major holidays. Before starting, there is a quiz a person takes to decide their “style” and the boxes will cater to the answers to those questions.
After subscribing, a person can also add a box, skip a holiday or season, or downgrade/upgrade their box at any time before the shipment cutoff date. It is important to keep in mind that the company may sell out of a specific holiday and is first come, first serve.
Does Ready Festive sound like a good investment on Shark Tank? Let us know your thoughts in the comments below.