Here are my notes that I took on set during the shooting of this episode. Italian fast food, an online portal, deodorant – and I don’t know how to categorize the G-Stick – oral hygiene I guess. There were laughs – but plenty of advice and insights.
Tommy Sugo – Fast fabulous authentic Italian pasta – very impressive presentation (including the fantastic arancini balls). With one store in operation, and father in-law a key supplier – the founders had set the business up well. They wanted a franchise engine for national coverage. I felt there was something that they just were not telling us – maybe they were just a little nervous. I wondered how hard it would be to differentiate from other Italian fast food.
Stink Brothers The founders have six sons between them. And they wanted to produce a non-aluminum deodorant spray that boys from 10 to 19 would love. The branding was strong – the product can be used to ‘deodorize’ shoes, bags, bedrooms and all sorts… but would boys take to it… their parents yes! But the real customers are the lads – distribution would be critical and there are massive players in this market. Also it seemed expensive.
G stick – The naming of a product or company is very important. Gladys our entrepreneur named her device after her first initial. The challenge being that this is not an existing product category – so to assume that 1 million Australian’s would buy one is not really the way to value the business. The wonderful Gladys enlightened us as to the challenges in keeping one’s tongue clean and healthy – free of bacteria. I learned something new.
We Teach Me – An aggregation website connecting course suppliers to customers in a real time booking sort of away. The thing about any aggregator is it needs both customers and suppliers. Great effort had gone into the pitch. Alas as soon as we started asking questions Kym seemed a bit tongue tied (no relation to the earlier pitch). He was vague on his numbers and vague on business partners. With only a 2.5% equity offer – I wondered what game he was really playing.
Good on them all – they gave it a go. Love it.
Matt says
If Gogglebox were in our home, Shark Tank would be the only show they’d need to film for us to be entertaining. It gets loud when people are in the tank making their pitches as we argue back and forth what something is worth, whether we’d invest.
Thanks for posting your notes – it’s really good to see it from inside. I often think the US show is focused on IP & patents so it’s great to see more focus on actual business structure, financials & such here.