Shark Tank Season 3 Episode Five
This week there is such a variety of businesses – but all have traction. Sales and customers proving that they are prepared to pay their hard earned cash on these concepts…. however, the time to market for one is really of concern.
iKiFit
For 14 years, Kim has been working on his kids education program deliverable straight to the classroom using rote learning, batons and interactive boards. Kim is after $250k investment for 10% of his company, valuing his business at $2.5million dollars. Having invested $800k of his own money to date —a jaw dropping amount — which is only returning $50,000 in revenue annually, the Sharks aren’t too convinced…
Kaf.Tanned
Jade is the co-founder of Kaf.Tanned, which after three years in business has 300 stockists in Australia. For those who know about spray tanning, they’ll know that after attending a salon your clothes can often get stained. Jade has found a very easy solution to the problem… but is there enough people who see this as something that they would spend their money on?
Cellarwraps
Brett is a graphic designer who has aspirations to be the first millionaire in his family. Inspired by his father who said ‘you can do anything’, he has created a range of cards to wrap around wine bottles that can be sold in Bottle Shops. Really well merchandised, with an investor already on board Brett is ready to scale his enterprise. Will anyone bite?
Sleeping Duck
Last up we have Winston and Sel, the founders of online mattress company Sleeping Duck, who believe that buying a mattress in store is a nightmare — not what dreams are made of. They have big commitments to customer experience with their 100 night trial, and are currently selling in Australia and the UK through their online store. With good traction so far, they have big ideas for their business, they’re seeking an investment of $500k for 5% valuing the business at $10 million. Do we sense a deal?
And there you have it, another episode of Shark Tank!
See you next week…
Images courtesy of Network Ten.
