Jamie Ratner is the founder and also CEO of Certifikid, a famous bargain website for parents wishing to engage in family friend activities with their children on a budget. Parents can choose from a variety of many options, including recreational activities, kid’s summer camps, birthday party packages, and family adventures, all at low cost.
I started with $5000 in 2010. I was a mommy blogger with a passion for daily deal sites like Groupon during that time. However, I found out that there was no real good deal site for family activities, so I decided to start my own. It originally started in the Washington DC area, but now we have expanded to Atlanta, Los Angeles, Chicago, and more.
The fact that raising kids is expensive made me start the site. I wanted a platform that could save families money. This was a natural extension of my blogging. I wrote about finding expensive activities for kids in greater DC. If you are familiar with Groupon, Certikids operates in the same way. I did some research in my area and found a ticket to an indoor rock climbing center for $7.95, half of the regular $15.95 price. This felt like a better way to save on family outgoing for parents with families.
My partner Brian and I went to the Shark Tank show seeking $600,000 for 8% equity of the business. We went right into the numbers, and the sharks were impressed. Also, we stated that we had made $700,000 in net income off $5 million in sales in the previous year. We also have over $30 million in sales since we opened the business in 2010. We wanted a shark’s capital to assist us with growing our sales team.
Certifikid makes money by taking an amount of each deal purchased. So it did not take long before the deals started coming. Daymond offers $600,00 for 17.5% equity of the company. Barbara gives an offer of $600,000 for 25% contingent on franchising the concept. Kevin gave an offer of $600,000 for 19% stake in the company. We accepted Kevin’s offer and made a deal with him.
After the show, we refined our business model and our offer. We also received very valuable connections with the sharks. The connections pushed us to continue building our business. Also, we received requests from local businesses and parents all across the country. They requested us to introduce Certifikid to their communities.
To a young Jamie Ratner, you need to have an idea in order to start a business. When you have a solid concept, a strong network, and well-researched information, this will set up your future business for success. Some people may not like your idea because it may seem crazy or non-profitable, so you must be truly determined. One of the business keys to success is to know your numbers and plan for your business operations.
The company’s expansion into more markets promoted a new policy for its home country, Canada. The government of Canada restricted non-Canadian companies from distributing and importing educational materials in the country after I entered the Tank seeking investment in my company.
Currently, the company is taking advantage of the latest technology to grow its business. We have an extensive database of certified teachers throughout the United States. As a result, the business is now one of the largest providers of birthday party experiences. We have over 3 million members, and the number is growing daily. Our vision is to help families keep the quality time they spend with their children, which in return increases their happiness.
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