Shark Tank Season Three Episode 10
Another week, another episode! It’s always humbling hearing the stories and the journey that entrepreneurs I meet have been on and I like to remind everyone that I’m here to assist!
Tonight in the Tank we have…
Raph and Rory are mates from school that have set up three successful cross fit gyms. They’ve come into the Tank with a fantastic idea they’ve developed for a workout snack infusing caffeine, dark chocolate and other proteins. The articulate pair are after $50k for 10% of their business. Raph tells us that Rory is one of the top 10 fittest guys in Australia and Steve shows us what he’s made of with some chin ups… These guys are clearly passionate about fitness, but will that be enough for a Shark to invest?
Anthony and Rebecca from Cart-a-Lot are in the Tank seeking a 100k for a 10% equity valuing their business at $1million. The couple from Adelaide have developed a product that helps anyone get their things from A to B. The cart weighs in at only 10 kgs and carries a substantial 70kgs… they’ve put their heart and soul into this nifty contraption, but is it a scalable business?
Benjamin enters the Tank seeking 200k for 10% stake in the business. He’s got a strong background in successful food businesses and had an idea to make ‘blendies’ – a pre-made super ball of powders and grains to add to your morning smoothie… an easy breakfast for people on the go. Ben puts forward a subscription based business model to the Sharks… will they bite?
The next business coming into the Tank is ScopeIT Education. Frank and Tracey have come in looking for 632k for 15% equity in the business valuing it at $4.21m. Their program teaches school children from K-Year 8, digital technology and computer science. It’s a franchise business with 19 franchisees across five states of Australia and at present, the program is being used by 150 schools. I have a young friend at Scarborough Primary School who is actually using the program and the School Principal is very happy with what has been achieved to date. It’s a tempting deal with great social impact for school children… will the Sharks put their money on the line?
Well, that’s it for another week. See you next Tuesday!
Images courtesy of Network Ten.