Shark Tank Presentation: Charcuterie Board Company

Presenters: Rachel and Erin from West Palm Beach, Florida

Business Proposal

• Seeking $300,000 for 5% of their company
• Company offers pre-assembled, catering-quality cheese and charcuterie boards nationwide
• Product is fully pre-arranged; buyers only need to pour nuts in designated spots
• It’s pitched as a convenient alternative to traditional gift baskets

Product Details

• Not custom products, made on an assembly line
• Can produce up to 3,000 boards a day
• Three sizes available: Small, Medium, Large

Production and Shipping

• Standard is next-day shipping
• Facility: 15,000 sq ft production kitchen in Florida
• Costs: $91 to produce, wholesaled for $154, retails for $229 (including shipping)

Company Background

• Started as a pivot during the pandemic from a high-end catering business
• Achieved $1.8 million in sales last year
• Projects $4 million in sales this year with $400,000 profits
• Company launched with multiple e-tailers like Williams-Sonoma, DoorDash, and Costco
• Recently launched own website with promising initial sales

Financials

• Customer acquisition cost: $40-$60
• Investments: $300,000 home equity line; $150,000 SBA loan; $100,000 credit line; $750,000 invested by Rachel
• Total investment: ~$2 million
• Facility has potential to scale up to $70 million in sales

Investor Interest and Offers

1. Kevin O'Leary: $300,000 for 17.5% equity
2. Barbara Corcoran: $300,000 + $300,000 credit line for 15% equity
3. Lori Greiner: $300,000 for 13% equity, negotiated down to 9%

Decision Factors

• Importance placed on launching direct-to-consumer strategy and expertise in this area
• Lori ultimately chosen due to enthusiasm and expertise, agreeing to 9% equity

Closing Thoughts

• Presenters believe Lori will help effectively spread the product
• Lori's customer connection and passion were key factors in their decision