Tonight, it was all fun and games on Shark Tank Australia, until the Sharks got hungry. But, as the tables turned, who fought for the chance to secure a deal of a lifetime?
First in the Tank, was Perth innovator and the youngest entrepreneur to face the Sharks, 13-year-old Lucas Lane and his mum Brianna. In just nine short months of trading, Glossy Boys, the three-in-one gel nail polish pen for men, has earned an impressive $67,000 of sales, with a profit margin of 64%. Seeking $25,000 for 5% equity, Sharks Jane, Davie and Cat put forward very different offers, before joining forces to ‘unboring their nails’, securing a remarkable result for Lucas: $75,000 between them, for a 20% chunk of the business.
Next up was Sydney-based Sebastian Waddell, with a brand-new solution for doggy pollution. Entering the Tank with his furry friend Hugo, Sebastian was seeking $250,000 for a 20% share of his fully automatic self-cleaning dog toilet, Fydoo. With pet products in his wheelhouse, Shark Davie shocked Sebastian and his fellow Sharks by putting forward two offers. The first was $250,000 for 45% of the business, and the second, an astonishing $500,000 for the entire Fydoo business! Quick to shut down relinquishing his business, Sebastian agreed on $250,000 for 40% equity.
And finally, the quality of Australian native plants was showcased in a drink, by NSW mother and daughter team, Tara and Mel Crocker. The Indigenous owned business YAALA Sparkling entered the Tank seeking $125,000 for 10% equity. After a successful taste test, not one, but two Sharks, Cat and Jane, put forward a combined offer of $125,000 for 30% equity plus royalties. After a short haggle, it was ‘cheers’ to the final deal of $125,000 for 20%, and both entrepreneurs and Sharks couldn’t be happier with their all-girl team.
Unfortunately, missing out on investments tonight, were the retro video gaming museum The Nostalgia Box, and the Dylan Alcott-backed world’s first 3D printed wheelchair, Rove Wheelchairs.
