Shark Tank Season Three Episode 8
It’s humbling listening to the stories of the entrepreneurs who enter the Tank — business is not for the fainthearted. Whether you’re looking to Build Your Business Brand, commune with likeminded business owners in our private community or ask me your burning business questions… I’m always here to help where I can.
First up in the Tank this week we have…
Be Fit Food
Kate is a dietician and believes that she can help millions of Australian eat, healthy whole food and lose weight rapidly. She’s asking the Sharks for $300k for 20% in the business valuing the company at $1.5 million. Her well designed program is protein rich is delivered to your door. Her packaging and pitch are great… but that does not guarantee her a bite.
Seth, Sam and Paul have created an app which locates the cheapest beer around… and have come to the Tank seeking $300k for 15% of their company. With retailers spending between $80-100 million annually on beer advertising, the founders believe this is an advertising play for not just the brewers. I wonder if it is a race to the bottom for discounting.
Bethany Grace has been an entrepreneur from age 5 and launched her natural skincare products online at 13. Sourcing ingredients from her parents farm, at the age of 20 she has accomplished so much and comes to the Tank seeking $40k for a 30% stake in her business, valuing her company at $133k. Beauty is a cluttered market, but she has a dream to customise natural skin care products via an online store… a great idea. I love her energy and wish that I could bottle that!
A fascinating story… Matt from Nevermind Adventure stumbled into his business after taking his family to India for three months. Short of cash when he returned home he began selling some of the leather goods he’d picked up on his travels in the Himalayas on eBay and they sold really quickly. After selling at markets and online, customers asked if they could come with him to India to where he was sourcing product, and then the travel business was born. After 3.5 years in business he’s seeking $200k for 15% in his company but there are numerous aspects to this business — two retail outlets and a travel business — should Matt be streamlining the business?
That’s it for another week! See you next Tuesday…
Images courtesy of Network Ten.