Shark Tank Season 4 Episode 2

What a week, that went quickly… and if you’ve seen the ads on TV you know that tonight, Steve walks off in anger! Shark fights are not uncommon in the Tank but this is the first time a Shark has walked off set! Wonder what pitch that’ll be about? Let’s dive in. First to brave the waters is…

Samantha, Rose and Kaisar are three ambitious siblings from Sydney who are here to disrupt the ‘entire’ gift giving industry with dessert boxes. After leaving their corporate jobs to follow their dreams of retiring their parents who immigrated from Lebanon 35 years ago, they’ve done themselves proud so far. In the first year of business they sold 30 thousand dessert boxes and did more than $2 million in sales, netted $810k — this deal continues to get more interesting! Their unique and very cheeky gifts have meant they have been able to amass a substantial social media community of 130 thousand people. With a potential customer base expanding everyday I feel like this pitch will get plenty of interest from the Sharks. Order a dessert box of your own here!

Entrepreneurs are always passionate — they have to be. And when Elissa ran into the Tank she certainly does not disappoint with her clear passion for her product and incredible enthusiasm. Probably the fastest pitch we’ve ever heard, she tells us that the product idea came to her in a dream. Elissa has found a gap in the market that she’s certain she can fill but I am concerned that with her lack of solid scientific research, the Menopause Tea may fall flat. Elissa sells her tea both online and in IGAs and Foodworks across Australia and has sold 846 boxes so far. She’s here for world domination in the tea industry and with half the population being women who will inevitably go through menopause… she might be onto something?

Brendon and Sandra, a couple from Brisbane, are not new to business. These photographers have noted a gap in the market of newborn photography, the biggest growing photography niche second to only wedding photography, and have created a very unique product — a newborn training mannequin. After already investing over $200,000 of their own money, I’m happy to hear they’ve returned it having sold 1300 Stand In Babies, 600 of those to the U.S. market. The couple’s creativity and passion for the product is clear, however they seem to struggle with the financial vernacular — a need-to-know in business. Asking for 200k for a 20% stake, they’re business becomes even more appealing when they tell us about the great feedback and huge potential for use in the medical industry. I can feel the heat in the Tank as the Shark’s temperatures rise…

Stanley and Lestari have come to pitch a really unique, interesting concept that is assisting many startups in Australia. Working as a physiotherapist in a shopping centre, Stanley noticed the trouble retailers were having with many going as quickly as they came due to high rent, wages and risk. It made him think how he can help and that’s how MyCube was born. My Cube is a shared retail store with cubes that are mini shop fronts for micro-retailers charging out each cube space for $5 per day. Along with his lively sidekick Lestari who is a delight, they currently have 3 MyCube storefronts in Brisbane and one in Sydney with a total of 150 micro-retailers on their books with one shop alone warning $500,000 each month solely in rent. A very interesting concept, who will be wanting to invest in some cubes?

And that is a wrap! If you missed the episode don’t forget to catch up on the replay at Ten Play.

All Shark Tank Australia information including blog posts, products and companies from all seasons can be found here… 

Grow & Scale Your Business by Naomi Simson

Tell Naomi a little bit about your business by completing the questions below. (It will take less than 60 seconds)

Answering your #1 Biggest Business Challenge question tip: 

Go beyond just saying "Poor Cashflow" or "Unreliable Team". 

Instead, give Naomi details & specifics on how this is currently your #1 Biggest Business Challenge. 

I.e. "Every month I'm struggling to pay my bills on time because there just isn't consistent cash flow coming into the business. I've tried sticking to budgets in the past & pay myself less to keep some extra funds aside for emergencies, but still every month there seems to be another financial fire to be put out. I don't know what to do about it, so I'm just grinding it out."

 

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