Good Grief Celebrations Shark Tank Update | Good Grief Celebrations after the Shark Tank Pitch
Table of Contents
What is Good Grief Celebrations?
Good Grief Celebrations provides funeral concierge services. When families are grieving the loss of a loved one, the company provides a DJ booth and an open bar.
Additionally, they compose the eulogy, perform the service, and coordinate family gatherings following the burial ceremony, assisting grieving families in alleviating stress associated with the loss of a loved one and event planning issues, therefore transforming their mourning into a celebration.
Rikki Farrar started the Good Grief in memory of her late mother, who desired that her life be commemorated following her death.
Farrar is the Director of Marketing for The Cake Doctor and the General Manager of Good Grief Celebrations.
Who Founded Good Grief Celebrations?
Rikki Farrar
What happen to Good Grief Celebrations at the Shark Tank Pitch?
Farrar approaches the Shark Tank with a business idea. She is providing 25% of her firm in exchange for a small $50,000 investment. This indicates a value of $200,000.
She details her business’s offerings and references various celebrities, including Michael Jackson, Bernie Mac, and Richard Prior, who chose a “celebration of life” over a typical burial.
Robert Herjavec inquires as to whether she has made any sales. Farrar says that she has sold $11,000 worth of merchandise over the last year.
The Sharks are unimpressed by this figure.
Herjavec inquires as to how she came up with the idea for Good Grief Celebrations.
Farrar recounts her mother’s celebrations.
Kevin O’Leary claims he adores the concept of Good Grief Celebrations, that people are clamouring to get into the business, and that there is never a better moment to upsell than when a family is bereaved, because they are no longer focused on profit margins.
According to Kevin O’Leary, he is dealing with facts, which is why the funeral industry is so amazing.
The other Sharks criticize O’Leary for his callousness, but he counters that he is here to make money and is interested in learning how Farrar expects to generate money with her firm.
He inquires as to how she wants to compete with funeral houses, whose business model currently encompasses the majority of her services.
Farrar reveals that she visits hospices and elderly homes with a therapy dog. Robert Herjavec is obviously taken aback by her sales tactics.
He wonders if she is taking advantage of bereaved folks. He rejects to make a contract on that basis.
According to Barbara Corcoran, the funeral company is a touch too weird for her, and she believes it is a one-man operation. She claims that she does not believe it is expandable, and as a result, she is also out.
Daymond asserts that he does not see margins or profits at eleven thousand dollars in sales.
Harrington refers to the firm as an ambulance chaser, and while it is not the sort of venture he want to engage in, he is out.
Kevin O’Leary asserts that death is inevitable, but the reality is that Good Grief Celebrations is losing money, and as a result, he is also out.
Farrar exits the Shark Tank without securing a contract.
Good Grief Celebrations after the Shark Tank Pitch
As of today, the firm is not operating on a regular basis due to its website being outdated and inoperable.
Additionally, there is no social media presence for the firm on Twitter or Facebook. Physically, the firm is not present.
Additionally, the product lacks reviews, implying that there’s no evidence of the company being in business.
Good Grief Celebrations Net Worth
Farrar approaches the Shark Tank with a business idea. She is providing 25% of her firm in exchange for a small $50,000 investment. This indicates a value of $200,000.
Good Grief Celebrations Competitors
There is no Competitors
Good Grief Celebrations FAQS
What exactly is Good Grief Celebrations?
Good Grief Celebrations provides funeral concierge services. When families are grieving the loss of a loved one, it provides a DJ booth and an open bar.
Additionally, they compose the eulogy, perform the service, and coordinate family gatherings following the burial ceremony, assisting grieving families in alleviating stress associated with the loss of a loved one and event planning issues.
How were they making money?
According to Farrar, make money by offering their merchandise services to the grief family.
What is their expansion plans?
Out of business.
Is Good Grief Celebrations a good business?
The firm is unprofitable.
Who Founded Good Grief Celebrations?
Rikki Farrar.
Were Good Grief Celebrations patent?
Farrar did not disclose the patent of the business.
What happen to Good Grief Celebrations at the Shark Tank Pitch?
Rikki Farrar enters Shark Tank in season 1 episode 5, looking for investment in her company of $50,000 for 25% ownership but she ended not secure an investment from the Sharks.
Why Farrar don’t secure investment in Shark Tank?
There are reasons that she didn’t secure an investment from the Sharks;
The product is not well known. Roberts Herjavec, Daymond John and Kevin O’Leary reject because of unprofitable festive firm since. She has no prove to show the profit margin.
What were the weaknesses of Good Grief Celebrations?
Her product is not well known. It’s unprofitable. She doesn’t have any proof to show the profit margin
What were the strengths of Good Grief Celebrations?
The strength of the firm is that it gives funeral services to the people who have a low budget.
Is Good Grief Celebrations still in business?
No, it is out of business.
What services were they offering?
They compose the eulogy, perform the service, and coordinate family gatherings following the burial ceremony, assisting grieving families in alleviating stress associated with the loss of a loved one and event planning issues, therefore transforming their mourning into a celebration.
Where was the business located?
Farrar runs her business out of Philadelphia, Pennsylvania
What was the revenue of Good Grief Celebrations?
Rikki Farrar did not reveal how much money she made from her business but she did say that it is an $11,000 sales in the last year.
What was the net worth of Good Grief Celebrations?
The net worth of Good Grief Celebrations was at the Shark Tank $200,000.
