Shark Tank Australia Season Four Episode One
What an exciting time, we are back on Channel Ten Shark Tank for Season Four and we’re all really excited about the Aussie innovators who have come to pitch their idea in the Tank. It’s not a walk in the park standing in front of the five of us, but we do our best to get the full story about what success looks like for each person pitching. All four of the pitches in episode one are established businesses with millions of dollars in turnover. The entrepreneurs really get our attention when they speak in six figures.
To kick off the season we have:
Jake enters the Tank zenned out and ready to sell us on his coconut bowls. Asking us for 300k for 10% of his business — Jake values his business at a cool $3mill. He tells us that his bowls are reclaimed from coconut farms in Vietnam and is a profit with purpose business. With more than 100k bowls sold since the inception of his idea in 2016, this business venture is serious business. In his second year of business the company hit $1.2 million in revenue – impressive… Jake has built a solid community base on social media and has big plans keep expanding. But we seem pretty unimpressed as we walk on set and say ‘Coconut Bowls?’ But how the tables turn.
Your Mates Brewery
These two mates from the Sunshine Coast are living the Australian Dream. Matt and Christen from Your Mates have come into the Tank asking for $750k for 25% of their company. They’re currently the biggest brewing company on the Sunshine Coast but are looking to scale the operation. These two business partners and roommates have hit the nail on the head with the characters on the beers, Larry and Donnie create a real emotional connection with their customers. The valuation of $3 million and ambitious goals for their venture, will the Sharks like the taste of their beer?
Seventeen year old Morgan from Melbourne is a powerhouse. He is currently in his final year at high school but spends every other waking moment dedicated to his business, and it definitely shows. Morgan has come to the tank asking for $200k for 20% equity in his business. With a valuation of $1 million, Morgan tells us that he started his business with a pop-up store that lasted a week and sold over ten thousand doughnuts. Impressive, to say the least. He’s loved being in the kitchen since he was seven years old and is a true example of following your passion and not letting something like age stop you. Bistro Morgan currently has one bricks and mortar store but Morgan is looking to scale. The Shark’s are all looking for a sweet deal, however.
The Inappropriate Gift Co.
Laurie swims into the tank as an ex-HR person who quit the 9-5 to start her own business — she jumped all in to an online store curating unique gifts with cheeky humour. Having earned $470k in revenue in less than 18 months (with no paid advertising!), her company has sold over 23k products to more than 9000 customers in more than 30 countries. Looking to merge with a Shark for guidance and expertise, this one looks like it’ll be a fight to the death. Here come the Sharks! Shop inappropriate gifts here!
What an episode! It’s absolutely fantastic to be back in the Tank and this episode showed that age is no barrier to entrepreneurship.
Don’t forget to catch us next week on Tuesday 8:30 pm on Network Ten!
And remember, you can always shop the Shark Tank products here.
Also published on Medium.