Honey Fund on Shark Tank
|HoneyFund Wedding Registry owners|
Josh & Sara Margulis
on their way to the Shark Tank Show
The HoneyFund Registry was started by Josh and Sara Margulis, who will be appearing on the Shark Tank this Friday night in episode 604 on October 24, 2014. A good way to describe the Free Honeymoon Fund service is basically running a crowd funding campaign for your Honeymoon. You already have a house full of "stuff", but maybe lacking the funds needed to go on the ultimate Honeymoon you've always imagined.
When Josh and Sara got married they wanted to go to Fiji for their Honeymoon and preferred any wedding gifts go towards paying for the trip instead of a traditional household gift. The soon-to-be married couple researched over a dozen online wedding registry's to make it as easy as possible for their guests, but was shocked at the high prices and booking fees. With all the website building tools available today, they figured why not start their own Online Wedding Registry customized to help pay for the ultimate Honeymoon they both envisioned.
This creative solution the Margulis's came up with to help pay for their honeymoon was an instant success raising over $5100.00 towards their trip to Fiji. It wasn't long after the honeymoon the new couple started thinking about other newlywed's in the same situation preferring the "Ultimate Honeymoon" above any other present. A new online business was soon born to compete with other Wedding Registry's, but with one small little detail, the HoneyFund Registry is Free for you and all your guests. The site is supported by minimal advertising, or you can choose an ad-free registry page with upgraded options for only $19.99 and up.
HoneyFund before the Shark Tank UpdateThe HoneyFund site not only is a great way to crowd fund your honeymoon, its also a great site to help put together a great vacation. Nothing is left to chance when planning the ultimate vacation on this site. The one thing that's a little concerning the Sharks might not like is how much revenue the Honey Fund site is generating from this business model. You can use the Wedding Registry for free if you don't mind a few advertisements on the page, or pay only $19.99 and up, for ad-free and upgraded options. It will be interesting to see if the Margulis's discuss the actual percentage of upgrades during their appearance on the Shark Tank.
The wedding registry also has a 100% Free Private Label available for travel agents and wedding planners. I assume the site also offers the upgraded version to all private label registers, and that's how they're making money from giving away this free service. It's hard to imagine the Honey Fund's not connected with a travel agency to book vacations considering the level of detailed planning on the site. But as far as I can tell, this potential revenue stream has not been implemented. There must be something more to making money with this unique concept then meets the eye, but need to wait until the Shark Tank airs to find out exactly how much profit is being generated.
The main thing you'll need to consider when crowdfunding for your honeymoon is the delay when booking your trip, and the wedding day when most of the financial gifts will arrive. In most cases the trip will need to be booked several weeks in advance, so keep that in mind and make sure you budget accordingly.
Honeymoon Fund Website