Shark Tank Season 3 Episode Eleven
Here we are again, back in the Tank. First to face the Sharks is….
Ace is young, enthusiastic and hardworking and has quit his job to focus on his business! He has developed a range of healthy seasonings and has come to the Tank seeking 80k for 10% equity. With over 400k in sales in less that a year and a half Ace has significant traction but to scale, he will need a Shark’s know how as well as an investment.
Brent has a successful lash extension training business in Australia and through a chance meeting with one of the spice girls, Mel B, who has become an equity partner in the business. Brent wants to take express lash extensions to LA with a franchise model. He’s here in the Tank looking for $120k for 10% equity and a $120k loan, valuing his business at $1.2 million, however without franchise experience, are the Sharks likely to invest?
Harry and Rod who have been mates for 50 years have joined forces on their business Squidezy. With patents in all markets the pair are interested in, they are in the Tank seeking 100k for 32% of their business. Who knew that recreational fisherman had a struggle preparing squid for consumption? This nifty invention by Rod, the design teacher, is colourful and fun – but is it a scalable business?
World renowned for dog grooming, Melanie has come to the Tank with her husband Cory and their plant derived dog grooming products. The non-toxic products look great and with five fluffy dogs on set, this pitch is definitely entertaining but this is a serious business with traction? They’re come seeking $150k for 20% equity, Glen seems like the obvious fit but is the market to cluttered to get a Shark’s attention?
The theme for September in our private business community is ‘Planning’. For the next four weeks we’ll be giving ourselves the chance to make some concrete plans for our businesses. Let me ask you, do you have a plan for the next quarter? These are the types of questions we’ll be delving into… come and join the community here.
Images courtesy of Network Ten.