Who doesn’t like decorating their homes during festivities, right? Well, that’s what led to the foundation of the company, Ready Festive. Founded by Liz Voelker and Kristina Barnes, the company is a festive home décor company.
So, think of Halloween and Christmas and the company specializes in offering products that are best aligned with such festivities. The founders appeared on Shark Tank Season 14 with their company Ready Festive asking for $250,000 for 10% equity.
Been sitting there wondering where the company is right now and how well its business is doing after the Shark Tank episode. We have all the details in this guide.
Shark Tank Ready Festive Update
- Entrepreneurs – Liz Voelker and Kristina Barnes
- Business – Festival home décor
- Ask – $250,000 for 10% equity
- Result – $250,000 for 18% equity
- Sharks – Robert Herjavec
The festive season is one where people rejoice and have the time of their lives decorating their homes to match the vibe of the festivities. Ready Festive was founded with the intent to be a one-stop destination for all the festive items purchased.
What’s great about this website is that it hosts over 10+ base options for customers to choose from. However, the uniqueness of this business comes from the subscription plan. Instead of buying one item at a time, it is a subscription model where the customers have to sign up for a minimum of three holidays or the festive season.
Based on the choices, the company would customize all the home décor items and deliver them directly to the customer to use and spruce up the look of their homes.
Liz and Kristina unveiled that they have different festive subscription boxes that the customers can choose from. They range between $70-$150. While sharing the revenue and valuation of the company, the founders clarified that they have been in the business for the past three years and have generated over $1.5 million in revenue.
The first Shark who decided to drop out was Mark Cuban because he couldn’t find himself fitting well into the future of the company. Soon after, Kevin O’Leary and Barbara Corcoran stepped out of the deal too. Even Lori Greiner dropped out from making an offer because she didn’t think the founders would make much use of the help from the sharks.
This left Robert Herjavec, who seemed to be quite interested in the business. He offered $250,000 for 20% equity. After discussion, they negotiated it down to 18%.
Following the successful deal that went through with Robert, Ready Festive witnessed a steep boost to their sales after the episode aired on television.
The company is currently operational and their business is booming. They have introduced new customization options and festive boxes, further expanding their business to the right audience. Their services are available on their official website, which you can visit and check out.
We don’t have any idea about their gross sales and revenue at the moment since Ready Festive hasn’t shared anything about it yet.