Charcuterie boards and their wonderful flavor combinations are a delight to the eyes. Boarderie sells pre-made cheese and charcuterie boards and delivers them fresh to your door. Founders Rachel Solomon and Aaron Menitoff pitched their company on Shark Tank and landed a deal with Lori Greiner. As of 2024, Boarderie is valued at $12 million.
About the Founder
Aaron Menitoff is from West Palm Beach, Fla. The entrepreneur holds an associate degree in food and beverage management and bachelor’s degrees in communications and psychology from the University of Michigan.
Although Rachel Solomon is originally from New York City, she also lives in West Palm Beach. Rachel studied economics and psychology at Barnard College. Before college, she was the president of a microfinance club called KIVA.
While in school, she worked for a variety of companies, including Hearst Magazines, the Columbia Daily Observer, Gooroo, CBRE, and even JPMorgan Chase. After graduation, Citibank hired her as a financial analyst.
Founding of Boarderie
While studying Food and Beverage Management, Aaron started a small catering company which he ran until it became one of the leading catering companies in South Florida, working with celebrities and royalty.
After the outbreak, the company shut down. Everything changed, and the entrepreneur switched from traditional catering to e-commerce and was busy for nearly a year. Rachel was a customer of Aaron’s company CheeseBoarder and knew him. The two had a common vision, which was to ship wooden boards across the United States.
A few months later, the duo founded Boarderie in mid-2020. Their hard work paid off, and they landed partnerships with companies like Williams Sonoma and DoorDash. Within a year, they hit $1.8 million in sales.
Shark Tank Appearance
By 2022, Boarderie is on track to hit $4 million. The business is already thriving, but Rachel and Aaron plan to expand. They appeared on Shark Tank Season 14, seeking $300,000 for a 5% stake.
Although the profit margins were not high, the sharks were still satisfied with the sales volume. Some of them withdrew, but many sharks were willing to take the risk.
Kevin O’Leary made the first bid, offering $300,000 for 17.5%. Barbara and Lori offered a lower price than Kevin’s. After a period of discussion, the founders chose Lori and closed the deal at $300,000 for 9%.
Success after Shark Tank
After the TV appearance, Boarderie quickly sold out and production was maxed out. According to tastingtable.com, Boarderie had an extremely strong 2022, with sales reaching $1 million per week after Shark Tank. The rapid increase in orders caused them to have to pause orders during the Christmas season.
Some of their products are currently sold out, but some are still available on DoorDash, Goldbelly, Costco, Amazon, Igourmet, Di Bruno Brothers, Neiman Marcus, and Boarderie.com. As of November 2023, cumulative sales are $15 million.
One of their best-selling products is the Cicchetti Cheese and Charcuterie Board, which has 19 customer reviews on Amazon and a 3.3-star rating. Currently, the Boarderie is worth an estimated $12 million! Once again, Lori Greiner is the big winner.
Categories: Shark Tank
Source: dut.edu.vn
