This week, Tilman Fertitta meets with Gary and Lisa Horvath of Real Antique Wood.
Real Antique Wood is a family-run company that works with reclaimed wood. They salvage wood from old barns to make products like flooring, fireplace mantels, barn doors, and more. As stated on their website, the owners aimed to save barns that were being torn down. “We rescue this wood and transform it into something special. We believe we are preserving and continuing the story of each beam, barn door, and board. Reclaimed. Repurposed. Reloved. It’s truly our way of life.”
Fertitta wants to buy their reclaimed wood products for his new Italian restaurant, The Grotto. He quickly gets frustrated because they don’t have their pricing figured out and admit they just “wing” it. He’s also worried that there’s only one person, Anthony, making the furniture. He pushes them to build three tabletops—light, medium, and dark stain—in four hours.
Ultimately, only one table is fully finished, however, Fertitta is still impressed by the quality. Despite the fact he believes they’re not ready to supply tables for his restaurant, Fertitta still wants to help by challenging them to build a booth prototype. They successfully produce the booth prototype, which would cost $1,600. However, they still have not hired anyone to help Anthony make the furniture.
In the boardroom, Anthony informs Fertitta that he now has a right-hand man and another one waiting. The benches for the restaurant would cost $9,850, which Fertitta likes. Ultimately, Fertitta still worries that they wouldn’t be able to deliver, but offers to buy 250,000 board feet for $240 a foot over a 15-month period. Gary calls that “disappointing,” however, they decide to accept after Fertitta revises his first offer of $230 per foot. The order totals more than $600,000.
According to CNBC, the reality television show “introduces promising companies across the country to one of America’s most successful businessmen: billionaire hospitality mogul Tilman Fertitta, Chairman, CEO, and sole shareholder of Landry’s, Inc.” Featured entrepreneurs present their small business to Fertitta in the hopes that he will place a large purchase order. But before they make their pitch, they must prove to the hospitality mogul that their product is worth it through challenges and customer feedback.
Social Media Reacts to Real Antique Wood’s Appearance on “Billion Dollar Buyer”
No back up, lots of talent! Beautiful design but not enough production and no real price points! #BillionDollarBuyer
— Tammy Motola ❤️ (@tmotola) January 4, 2017
Good luck @RealAntiqueWood with the challenge! We can't wait to see how the prototype for @GrottoItalian comes out! #BillionDollarBuyer
— Golden Nugget AC (@goldennuggetac) January 4, 2017
That was a close one. Can @RealAntiqueWood handle their second challenge? Let's see these booths! #BillionDollarBuyer
— Grotto Ristorante (@GrottoItalian) January 4, 2017
I can't even assemble 3 IKEA tables in 4 hours #BillionDollarBuyer
— Hanne (@HVNNX) January 4, 2017
But they're good tables. #BillionDollarBuyer
— Tretta Bush (@TrettaBush) January 4, 2017
Poor Anthony should start his own business imo. #BillionDollarBuyer
— Hanne (@HVNNX) January 4, 2017
I've always wanted to know how to make tables like this. Pretty interesting. #BillionDollarBuyer
— Cristina321 Gaming (@Cristina321Game) January 4, 2017
What are your thoughts on Real Antique Wood? Did you like Fertitta’s offer? Sound off in the comments section below!