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Tank now. See

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SARAH HARRIS: Tonight...

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ROBERT: I'm super excited.
Yes!

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Wow.
..strong pitches...

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Man, you're good.
You're good.

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Yeah!
..had the Sharks in stitches.

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This here is called
a Poonami Protector.

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(LAUGHS) Great name!

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But as the Tank gets festive...
Christmas is big business.

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Ooh!

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..the Sharks get serious...

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This is hard-earned cash of ours.
Don't discredit the money.

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I don't buy that explanation.
Oh!

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Don't make that face at me.
(LAUGHS)

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..as our investors go in search...

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I love it.
Whoo-whee! Let's go.

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That's how it's done.

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..of the next big deal.

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$12.5 million!

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What is going on? (LAUGHS)

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(THEME MUSIC)

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First into the Tank is mum of two
Aami Mills from Canberra

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with her baby-focused brand.

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Four out of the five Sharks
are parents themselves,

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so I'm hoping that the odds
are on my side

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and they love my product.

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SABRI: Davie, have you ever changed
a nappy?

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No.
(CHUCKLES)

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Did you change any nappies, or...
All the time. I was right in there.

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Absolutely.
You got to be.

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Yeah.

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(TENSE MUSIC)

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Hi, Sharks, my name is Aami,
and I'm the owner and founder

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of Canberra's very own reusable
modern cloth nappy brand

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Mimi & Co.

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I'm here today seeking $100,000

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for a 10% equity in my business.

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This is what 6,000

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disposable nappies look like

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in landfill.

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And this is the waste accumulated
by just one baby

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in disposable nappies.

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Wow.

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In 2020, I gave birth
to my first son.

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He was born
at a teeny-tiny 2.5 kilos.

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Aw!

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He was the size of a premature baby

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but needed the absorbency
of a newborn nappy.

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The advice that I was given -

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just use two disposable nappies
at once.

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I knew there had to be a better way,

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so I got behind my sewing machine

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and I developed
our first ever prototype.

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Our nappies are design protected,
loved by thousands,

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and are the only modern
cloth nappy on the market

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that truly stands up to its claim
of one size fits most.

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Sharks, if you have any questions

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or you would love to touch our
products, I would love to show you.

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Thank you. Can we see the product?
Absolutely.

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Aami, does your brand name
have any meaning?

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I'm Mimi.

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No-one knows me as Aami in my life.
It's a great name.

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My name is Mimi. (LAUGHS)

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Robert, I'm gonna show you
what our nappy looks like...

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Thank you.
..on a 2.5-kilo baby.

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It's roughly the size that my baby
was when he was born.

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Aw!

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Aami, hi.

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So, I also gave birth to my son
in 2020.

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Yes.

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And I also have now a six-month-old.
Yep.

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I gave the cloth nappies a go
and I just...

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I think I must have done it wrong,
'cause it just leaked pee everywhere.

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Yeah, look, and...

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This is the hardest thing
about cloth nappies, right?

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A lot of huge brands...
I hated them.

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..the ones that you can buy
really easily,

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they're the ones
that don't offer education,

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so it's really difficult to try
and know where you're going wrong.

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Hey, Aami.
Hello.

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I've got three kids.
I know all about this.

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So, does this leak?

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I studied a Bachelor of Forensics.

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Forensics?
Yeah!

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Where I majored in textiles.

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A lot of what we do here
is about the absorption.

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We have specifically chosen
bamboo cotton

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and hemp cotton

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because they draw moisture
away from baby

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but they hold onto that wee.

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This is what the inside
of our nappy looks like.

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This here is called
a Poonami Protector.

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(LAUGHTER)

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(LAUGHS) Great name!

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JANE: Yes.

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I'm sure any of you with kids
have experienced poonamis before.

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(LAUGHS)

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And what this does
is the poo will go up

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and sit into the back.

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It's not gonna come out
and up into your clothes.

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A horrible nightmare
is coming back right now!

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And we have a Poonami Protector
at the front.

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What is going on? (LAUGHS)

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He's triggered.

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You haven't had to learn
about poonamis yet.

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I'm learning so much on Shark Tank.

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So any really liquid-y poos
or explosions...

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You just horrified Davie.
Yes!

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He's the only Shark up here
without kids. (LAUGHS)

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I'm out of having kids.
I'm still in the deal, but...

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(SABRI LAUGHS)

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Do you know that, whether you use
disposables or reusables,

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you're supposed to put poo
in the toilet?

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No, you're not!
Read the back of your packets.

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Wait, the baby's poop?
Yes.

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You just throw it in the garbage.
No.

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You're supposed to put it
in the toilet.

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Why? It's natural.

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Do you poo in the garbage?

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Yeah.
You do?

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Yeah.
(SHARKS LAUGH)

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I was like, "OK, you win."

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Don't do that. I'm gonna get
kicked out of Australia.

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(LAUGHTER)

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SARAH: Aami's pitch is proving to
have some insightful revelations.

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Davie Fogarty,
the only Shark without children,

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wants to explore the patents Aami
has on her reusable nappies.

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Can you explain what protection
you have?

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We have IP design protection

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on the amount of snaps, and also
what it looks like on the inside.

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You know, the uniqueness
of the snaps on the front

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mean that you can actually
go down to your 2.5-kilo baby

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by making the front even shorter.

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So, we're trying to get as much wear
out of this as we can.

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We don't want customers to have to
buy three different sets of nappies

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to get their baby from newborn
to toilet training.

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Can you go through the past
three years of sales,

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revenue, profit, and also what
you're forecasting for this year?

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00:06:39,280 --> 00:06:43,560
So, in 2021,
we did $125,000 in revenue,

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and out of that we netted $50,000.

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ROBERT: What?
SABRI: Well done.

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In your first year?

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Yes, and do you know why?

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Why?

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I didn't have any money.
Yes, ex... I love that.

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Oh, my gosh, I love you!

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I had $200 and all I could do was
gain capital and put it back in.

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Yes!
Yes, yes, finally!

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00:07:03,360 --> 00:07:04,760
Good job!
That's all I could do.

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00:07:04,760 --> 00:07:07,800
That's how it's done.
Bravo, Aami, bravo!

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00:07:07,800 --> 00:07:09,000
You speak Shark.

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00:07:09,000 --> 00:07:10,320
(LAUGHS)

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What happened in the second year?
What happened in year 2?

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OK, year 2, I did $305,000...
Yes!

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..and I netted 110,000.
Wow!

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This year I expect that we will do
$550,000 this year.

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You go, Aami!

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79% of our revenue is generated
by organic traffic.

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Talk to us about paid.
Have you tried paid advertising?

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I have paid, so in 10 months,

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I've invested $30,000
into paid advertisement.

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Our return on investment
is about 11.

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Wow.

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00:07:41,120 --> 00:07:44,760
But still our main customers
that visit us are organic,

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particularly from TikTok.

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00:07:46,560 --> 00:07:49,280
Wow. What kind of content
are you making on TikTok?

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00:07:49,280 --> 00:07:52,240
A lot of content that resonates
with my audience.

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I am my ideal customer.

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00:07:54,760 --> 00:07:56,800
(LAUGHS)
Yeah.

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00:07:56,800 --> 00:07:59,840
So, Aami, you spent 30K on ads...
Yes.

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00:07:59,840 --> 00:08:02,480
..and you're getting
an 11 return on ad spend.

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00:08:02,480 --> 00:08:04,960
Mm-hm.
I have one simple question.

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Yep.
Why did you not spend more money?

174
00:08:07,400 --> 00:08:10,600
I'm scared. I don't actually know
what I'm doing.

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00:08:10,600 --> 00:08:13,960
Aami, how many
would the average family buy?

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00:08:13,960 --> 00:08:16,680
24.
24 of these? How much do they cost?

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00:08:16,680 --> 00:08:20,840
What do they cost?
So, one of these costs $36.99.

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ROBERT: To buy?
To buy.

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Yep.
That's reasonable.

180
00:08:23,280 --> 00:08:27,280
Yep. I get these landed for $16.65.

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00:08:27,280 --> 00:08:28,400
(TENSE MUSIC)

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We have a gross profit margin
of 55% on these.

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00:08:30,960 --> 00:08:33,440
(TENSE MUSIC)

184
00:08:35,040 --> 00:08:37,040
Your margin's not great.
No, it's not.

185
00:08:37,040 --> 00:08:40,320
But we have a lot
of eco-complementary accessories

186
00:08:40,320 --> 00:08:42,720
that do generate a lot
of additional revenue.

187
00:08:42,720 --> 00:08:45,320
So have you been selling out?
Yeah.

188
00:08:45,320 --> 00:08:46,960
Particular prints.

189
00:08:46,960 --> 00:08:48,480
How many SKUs do you have?

190
00:08:48,480 --> 00:08:50,000
In total, 95.

191
00:08:50,000 --> 00:08:51,040
Whoa!
Yeah.

192
00:08:51,040 --> 00:08:52,320
I've got about 10
different patterns.

193
00:08:52,320 --> 00:08:54,720
Do you think the SKUs
are a limiting...

194
00:08:54,720 --> 00:08:56,920
..a constraint of growth
or do you think...

195
00:08:56,920 --> 00:08:59,120
Potentially, yeah.
..you just love textiles a lot?

196
00:08:59,120 --> 00:09:00,680
When it comes to cloth nappies,
right,

197
00:09:00,680 --> 00:09:02,720
someone's gonna buy 24 of these.

198
00:09:02,720 --> 00:09:05,400
The average person
wants 24 different types.

199
00:09:05,400 --> 00:09:06,440
Is that true?

200
00:09:06,440 --> 00:09:09,400
Probably.
Probably true, yeah.

201
00:09:09,400 --> 00:09:10,400
You don't want the same.

202
00:09:10,400 --> 00:09:13,000
And that was the biggest feedback
that we got as we were growing

203
00:09:13,000 --> 00:09:15,880
was, "Aami, you only have
15 different colours."

204
00:09:15,880 --> 00:09:19,280
Aami, I love you so much.
Your energy is infectious.

205
00:09:19,280 --> 00:09:20,280
(AAMI LAUGHS)

206
00:09:20,280 --> 00:09:21,760
You're incredible.

207
00:09:21,760 --> 00:09:25,400
But for me, I can't see a path
where I add value.

208
00:09:25,400 --> 00:09:27,720
For that reason I'm out.
Thank you.

209
00:09:27,720 --> 00:09:29,640
And, Aami,

210
00:09:29,640 --> 00:09:34,840
I love that you are
the Modibodi of nappies.

211
00:09:34,840 --> 00:09:37,560
I see that you are definitely
solving a problem.

212
00:09:37,560 --> 00:09:43,520
However, I don't know that I am
the best Shark for you

213
00:09:43,520 --> 00:09:46,160
to support it, unfortunately,
for this investment.

214
00:09:46,160 --> 00:09:47,720
I'm out.

215
00:09:47,720 --> 00:09:49,880
Thank you.
Aami.

216
00:09:49,880 --> 00:09:51,560
(TENSE MUSIC)

217
00:09:56,200 --> 00:09:59,480
I am kind of thinking,
"Am I in or am I out?"

218
00:09:59,480 --> 00:10:01,720
The real opportunity for you

219
00:10:01,720 --> 00:10:07,280
is going to be in simplifying
the number of SKUs that you've got.

220
00:10:10,040 --> 00:10:13,640
And I think that there would be
some Sharks that would be able

221
00:10:13,640 --> 00:10:17,200
to help you do that better than
I would be able to help you do that.

222
00:10:18,480 --> 00:10:20,800
And so for that reason
I'll have to be out.

223
00:10:20,800 --> 00:10:22,760
Oh!
Oh! I was hoping you were...

224
00:10:22,760 --> 00:10:26,160
I thought you were coming to...
I thought you were gonna twist it.

225
00:10:26,160 --> 00:10:30,200
Mimi, you are running into a trap
with these SKUs.

226
00:10:34,160 --> 00:10:35,760
And that's where I can help you.

227
00:10:35,760 --> 00:10:40,040
But I am gonna need a mum
to come in with me,

228
00:10:40,040 --> 00:10:42,160
specifically Jane,

229
00:10:42,160 --> 00:10:45,800
because she has this audience
with her Facebook group.

230
00:10:45,800 --> 00:10:48,280
So if Jane will come in with me,

231
00:10:48,280 --> 00:10:53,920
we'll do $100,000,
but I'd need 35% of the business.

232
00:10:53,920 --> 00:10:55,240
Whoa!
Whoa!

233
00:10:55,240 --> 00:10:57,400
You're stealing her baby.

234
00:10:57,400 --> 00:10:59,120
(TENSE MUSIC)

235
00:11:09,000 --> 00:11:10,320
I can help you.

236
00:11:10,320 --> 00:11:13,840
But I am gonna need a mum
to come in with me.

237
00:11:13,840 --> 00:11:16,880
So if Jane will come in with me,

238
00:11:16,880 --> 00:11:22,120
we'll do $100,000,
but I'd need 35% of the business.

239
00:11:22,120 --> 00:11:23,400
Whoa!
Whoa!

240
00:11:23,400 --> 00:11:25,840
SARAH: Aami Mills
is hoping to secure

241
00:11:25,840 --> 00:11:28,120
a $100,000 investment

242
00:11:28,120 --> 00:11:32,440
for 10% equity
in her reusable nappy business.

243
00:11:32,440 --> 00:11:36,200
She has one offer on the table
from Davie Fogarty,

244
00:11:36,200 --> 00:11:40,160
who's keen to bring
another Shark in on the deal.

245
00:11:41,360 --> 00:11:44,200
I am keen to get in
on that offer,

246
00:11:44,200 --> 00:11:46,120
and I think
it's a really fair offer.

247
00:11:46,120 --> 00:11:48,000
(TENSE MUSIC)

248
00:11:48,000 --> 00:11:49,720
What do you think?

249
00:11:51,440 --> 00:11:52,760
I'm gonna counter.

250
00:11:54,600 --> 00:11:58,440
Would you be willing to do $100,000
for 30%

251
00:11:58,440 --> 00:12:01,240
and a $50,000 line of credit

252
00:12:01,240 --> 00:12:04,560
for me to be able
to work through inventory

253
00:12:04,560 --> 00:12:07,280
and replenish that as I can?

254
00:12:07,280 --> 00:12:10,280
So you're reducing the percent by 5%

255
00:12:10,280 --> 00:12:13,440
and you're adding a $50,000
line of credit as well.

256
00:12:13,440 --> 00:12:15,360
JANE AND CATRIONA: That's Sharky.
Wow!

257
00:12:15,360 --> 00:12:18,080
I need that to be able to scale.

258
00:12:18,080 --> 00:12:20,800
And I don't want our profits
to be limited

259
00:12:20,800 --> 00:12:22,440
by the fact
that I don't have capital.

260
00:12:22,440 --> 00:12:24,920
Our profits. (LAUGHS)
Yeah, our profits.

261
00:12:24,920 --> 00:12:26,040
It is our profits, right?

262
00:12:26,040 --> 00:12:27,960
You are a Shark, lady.

263
00:12:27,960 --> 00:12:31,240
(TENSE MUSIC)

264
00:12:35,200 --> 00:12:38,720
So, the answer is no
to the line of credit,

265
00:12:38,720 --> 00:12:40,640
but I will come down to 30%.

266
00:12:40,640 --> 00:12:42,160
OK.
$100,000.

267
00:12:42,160 --> 00:12:44,040
OK. 15% each.
15%.

268
00:12:44,040 --> 00:12:45,600
$100,000.
Yeah.

269
00:12:47,040 --> 00:12:48,480
(TENSE MUSIC)

270
00:12:54,640 --> 00:12:55,920
Let's do it.

271
00:12:55,920 --> 00:12:58,080
Yes!
Amazing!

272
00:12:58,080 --> 00:13:00,800
I love what you're doing.
I love the cause. It's amazing.

273
00:13:00,800 --> 00:13:05,560
SARAH: An investment win for Aami,
and a win for the environment too.

274
00:13:05,560 --> 00:13:07,680
Well done, Aami.
Well done, Aami.

275
00:13:07,680 --> 00:13:10,560
And Davie, you can babysit.
Yeah, awesome.

276
00:13:10,560 --> 00:13:12,680
You can experience
the first poonami.

277
00:13:12,680 --> 00:13:14,800
(SHARKS LAUGH)

278
00:13:14,800 --> 00:13:16,880
AAMI: The one Shark
that doesn't have children,

279
00:13:16,880 --> 00:13:19,440
the one that I thought
was least likely to invest,

280
00:13:19,440 --> 00:13:22,040
put his hand up and said,
"I'm willing to invest."

281
00:13:22,040 --> 00:13:24,720
But now I've walked out
with two amazing Sharks

282
00:13:24,720 --> 00:13:26,920
which are gonna help me bring
my brand and my products

283
00:13:26,920 --> 00:13:27,920
to the next level.

284
00:13:31,280 --> 00:13:33,320
(CHRISTMAS MUSIC WITH SLEIGH BELLS)

285
00:13:35,240 --> 00:13:37,520
SARAH: Katie Rawal from NSW

286
00:13:37,520 --> 00:13:40,400
is looking for
global festive domination

287
00:13:40,400 --> 00:13:42,000
with her business idea.

288
00:13:42,000 --> 00:13:45,800
I'm the first person to bring this
product to market in Australia,

289
00:13:45,800 --> 00:13:48,360
and it's been a long time coming.

290
00:14:02,000 --> 00:14:03,240
Hello, Sharks.

291
00:14:03,240 --> 00:14:06,800
My name is Katie, and I'm proud
to present my brand,

292
00:14:06,800 --> 00:14:09,280
Holiday Celebration Trees.

293
00:14:09,280 --> 00:14:14,880
I'm seeking $300,000
in exchange for 15% of my company.

294
00:14:14,880 --> 00:14:18,080
Christmas is the most wonderful time
of the year,

295
00:14:18,080 --> 00:14:20,960
and nothing captures
the holiday spirit better

296
00:14:20,960 --> 00:14:24,240
than a beautifully decorated
Christmas tree.

297
00:14:24,240 --> 00:14:26,560
My vision is to revolutionise

298
00:14:26,560 --> 00:14:30,000
the way people decorate
for the holidays.

299
00:14:30,000 --> 00:14:34,120
I wanted to create a space-saving
and functional Christmas tree

300
00:14:34,120 --> 00:14:37,800
that still retains
the traditional shape and nostalgia

301
00:14:37,800 --> 00:14:40,920
of the Christmas trees
we all know and love.

302
00:14:43,520 --> 00:14:45,600
And that's why I'm here today,

303
00:14:45,600 --> 00:14:48,240
seeking your investment
and your expertise

304
00:14:48,240 --> 00:14:51,160
to help me take this brand
to the next level.

305
00:14:51,160 --> 00:14:52,800
Thank you so much for your time,

306
00:14:52,800 --> 00:14:54,720
and I'm happy to answer
any questions.

307
00:14:54,720 --> 00:14:57,400
Hey, Katie, I'm Davie. Great pitch.
Hi, Davie.

308
00:14:57,400 --> 00:15:01,360
So, can you run us through how
the tree works a little bit more?

309
00:15:01,360 --> 00:15:05,680
It's all different components,
they do connect in the same way,

310
00:15:05,680 --> 00:15:08,920
so you can assemble the tree
any height that you like.

311
00:15:08,920 --> 00:15:11,920
It's made up of a series
of five platforms,

312
00:15:11,920 --> 00:15:13,320
but as you can see,

313
00:15:13,320 --> 00:15:16,480
if you choose to assemble it
for something different,

314
00:15:16,480 --> 00:15:18,200
like the champagne tree,

315
00:15:18,200 --> 00:15:20,280
you can utilise the same components

316
00:15:20,280 --> 00:15:24,160
to make it two levels
or the full five-level height.

317
00:15:24,160 --> 00:15:26,280
How do you make it...
ensure it doesn't look sad

318
00:15:26,280 --> 00:15:27,600
if it's a bit empty?

319
00:15:27,600 --> 00:15:30,360
Well, it can be used for anything,

320
00:15:30,360 --> 00:15:32,600
so you can use it
for Christmas villages,

321
00:15:32,600 --> 00:15:35,640
you can use it for presents,
you can use it for toys,

322
00:15:35,640 --> 00:15:36,680
anything you like.

323
00:15:36,680 --> 00:15:40,400
Will it look nice if it had
just random stuff on it?

324
00:15:40,400 --> 00:15:45,240
Um, you could add other things
behind it, I guess.

325
00:15:45,240 --> 00:15:47,200
(TENSE MUSIC)

326
00:15:48,640 --> 00:15:50,000
What's the price?

327
00:15:50,000 --> 00:15:53,520
The average retail price is $680.

328
00:15:53,520 --> 00:15:55,200
Wow.
Wow!

329
00:15:55,200 --> 00:15:57,640
What's your cost to make one?

330
00:15:57,640 --> 00:15:59,880
At the moment it's $240.

331
00:16:01,800 --> 00:16:03,360
$240.
Wow.

332
00:16:03,360 --> 00:16:05,040
Isn't it just plastic?

333
00:16:05,040 --> 00:16:07,920
So, the platforms are actually
recycled plastic

334
00:16:07,920 --> 00:16:09,760
and metal accessories.

335
00:16:09,760 --> 00:16:11,440
There's actually a lot
of engineering

336
00:16:11,440 --> 00:16:14,720
that's gone into this tree
to keep it stable.

337
00:16:14,720 --> 00:16:18,480
I also have an approved
design patent in Australia

338
00:16:18,480 --> 00:16:21,040
and a pending patent
in the US and Canada.

339
00:16:21,040 --> 00:16:22,640
Huh.

340
00:16:22,640 --> 00:16:24,240
Run us through
what your sales are like.

341
00:16:24,240 --> 00:16:26,240
The business
in its first year of operation

342
00:16:26,240 --> 00:16:28,880
did $360,000 in revenue.

343
00:16:28,880 --> 00:16:29,880
Wow.

344
00:16:29,880 --> 00:16:32,960
Whoa.
What was the net profit on that?

345
00:16:32,960 --> 00:16:35,800
Last year the net profit was 23%.

346
00:16:35,800 --> 00:16:39,200
This year, forecasting sales
of 1.2 million.

347
00:16:39,200 --> 00:16:40,640
Wow.

348
00:16:40,640 --> 00:16:42,680
Next year, 2.7,

349
00:16:42,680 --> 00:16:46,240
and the year after that
it jumps to 4.95 million.

350
00:16:46,240 --> 00:16:48,160
Whoa!

351
00:16:49,240 --> 00:16:50,800
How are you forecasting that out?

352
00:16:50,800 --> 00:16:54,520
I sold through the amount of product
that I ordered last year.

353
00:16:55,680 --> 00:16:56,680
When I sold out,

354
00:16:56,680 --> 00:17:00,920
I added the option for people to
sign up to a waitlist

355
00:17:00,920 --> 00:17:03,880
to be alerted when the product
came back into stock.

356
00:17:03,880 --> 00:17:07,080
When I did that,
I got 7,000 email addresses.

357
00:17:07,080 --> 00:17:08,080
Wow.

358
00:17:08,080 --> 00:17:11,360
I also only had the snow tree
last year,

359
00:17:11,360 --> 00:17:14,840
and this year I'm launching
the green tree.

360
00:17:14,840 --> 00:17:18,360
My research shows that the
green tree sells traditionally

361
00:17:18,360 --> 00:17:21,800
2.5 times better
than a white flocked tree.

362
00:17:21,800 --> 00:17:22,920
It's true.

363
00:17:22,920 --> 00:17:27,440
If you take the numbers of last
year, don't assume any growth,

364
00:17:27,440 --> 00:17:30,880
and add the green tree,
you get to the 1.2 million.

365
00:17:30,880 --> 00:17:32,120
How are you selling these trees?

366
00:17:32,120 --> 00:17:35,800
This is direct to consumer
via my own branded website.

367
00:17:35,800 --> 00:17:38,440
Is it just you, Katie,
in the business?

368
00:17:38,440 --> 00:17:40,200
It is just me.

369
00:17:40,200 --> 00:17:42,560
What do you think
the biggest constraint is

370
00:17:42,560 --> 00:17:43,560
for you to get there?

371
00:17:43,560 --> 00:17:44,680
Capital.

372
00:17:44,680 --> 00:17:47,160
I agree. It's gonna be
so seasonally intensive.

373
00:17:47,160 --> 00:17:48,560
Yeah.

374
00:17:48,560 --> 00:17:50,880
And if you mis-forecast one season,

375
00:17:50,880 --> 00:17:52,960
you can practically
be out of business.

376
00:17:54,360 --> 00:17:58,200
How much of your sales today are
in the commercial application?

377
00:17:58,200 --> 00:18:00,640
Zero percent.
Zero.

378
00:18:00,640 --> 00:18:02,680
The one thing that amazes me...

379
00:18:02,680 --> 00:18:04,920
(TENSE MUSIC)

380
00:18:04,920 --> 00:18:08,480
..my neighbour in Newport,
California,

381
00:18:08,480 --> 00:18:10,640
owns one of the largest malls
in California.

382
00:18:10,640 --> 00:18:14,800
Could you not see this in every store
in a retail mall?

383
00:18:16,960 --> 00:18:20,280
Like, how would you go to market
in the commercial space?

384
00:18:20,280 --> 00:18:23,120
That's a really good question,
and I guess that's why I'm here.

385
00:18:23,120 --> 00:18:26,560
I need the expertise of someone
who's been there before

386
00:18:26,560 --> 00:18:30,560
to help me to build it to that
eight-, nine-figure potential.

387
00:18:33,360 --> 00:18:34,920
And, Katie, are you saying

388
00:18:34,920 --> 00:18:38,800
that there is no other
Christmas tree on the market

389
00:18:38,800 --> 00:18:40,240
that has shelves on it like this?

390
00:18:40,240 --> 00:18:42,360
Correct. In the world.

391
00:18:44,720 --> 00:18:47,560
I think it's a great product.
I can see myself buying it.

392
00:18:47,560 --> 00:18:51,080
But I just don't see myself
investing $300,000 today

393
00:18:51,080 --> 00:18:53,680
in such a seasonal business.

394
00:18:53,680 --> 00:18:56,120
For those reasons,
I'm sorry, but I'm out.

395
00:18:56,120 --> 00:18:58,800
Thank you so much. I appreciate it.

396
00:18:58,800 --> 00:19:02,000
You don't really have a business,
you have a product, right?

397
00:19:02,000 --> 00:19:04,600
And for the $2 million valuation,

398
00:19:04,600 --> 00:19:08,160
it's just a little bit too early for
me to come on this journey with you.

399
00:19:08,160 --> 00:19:10,680
So for those reasons, I'm out.

400
00:19:10,680 --> 00:19:12,720
Thank you so much.

401
00:19:12,720 --> 00:19:14,280
Katie, at the moment, globally,

402
00:19:14,280 --> 00:19:20,920
less than 3% of any venture capital
goes to women-led businesses,

403
00:19:20,920 --> 00:19:24,600
so I am really hoping

404
00:19:24,600 --> 00:19:29,240
that you will get a deal today
to increase that percentage.

405
00:19:29,240 --> 00:19:33,120
It's not the business for me,
so I'm out,

406
00:19:33,120 --> 00:19:39,640
but I'm really hoping you might
negotiate with these Sharks.

407
00:19:39,640 --> 00:19:41,560
Thank you so much. Thank you.

408
00:19:41,560 --> 00:19:46,040
There is so much risk with this.
It's so early.

409
00:19:46,040 --> 00:19:48,160
(TENSE MUSIC)

410
00:19:50,120 --> 00:19:51,960
You're obviously
an incredible marketer.

411
00:19:51,960 --> 00:19:54,400
You're wearing a dress
that matches the Christmas tree.

412
00:19:54,400 --> 00:19:56,040
Completely.
I'm glad you picked up on it.

413
00:19:56,040 --> 00:19:58,760
And Christmas is a big business.

414
00:20:00,840 --> 00:20:03,040
So I'm gonna make an offer.

415
00:20:03,040 --> 00:20:04,400
Ooh.

416
00:20:04,400 --> 00:20:08,760
I'll do $300,000 for 30%,

417
00:20:08,760 --> 00:20:11,640
but we need to convince Robert
to come along as well.

418
00:20:11,640 --> 00:20:13,520
So we'll split that 300,000.

419
00:20:13,520 --> 00:20:15,160
I will plug you in

420
00:20:15,160 --> 00:20:17,760
to the Australian distribution
that we have for The Oodie,

421
00:20:17,760 --> 00:20:20,200
I'll support you
with all the digital stuff,

422
00:20:20,200 --> 00:20:21,520
he'll handle all retail,

423
00:20:21,520 --> 00:20:23,400
and we can scale it that way.

424
00:20:24,720 --> 00:20:26,560
Um, first of all...

425
00:20:27,720 --> 00:20:30,800
..when you came out,
I was so not interested.

426
00:20:30,800 --> 00:20:31,800
(LAUGHS)

427
00:20:31,800 --> 00:20:33,560
I was like, "Eh."

428
00:20:33,560 --> 00:20:39,800
It's a flat piece of plastic or metal
with some trim around it.

429
00:20:40,800 --> 00:20:44,680
The more you talk,
you're reeling me in. I'm fascin...

430
00:20:44,680 --> 00:20:46,760
There's a massive opportunity here,
I'm telling you.

431
00:20:48,560 --> 00:20:50,360
I'm super excited.

432
00:20:52,600 --> 00:20:56,040
So I'll go in with Davie on 300,000
for 30%,

433
00:20:56,040 --> 00:20:58,120
150,000 for each of us,

434
00:20:58,120 --> 00:21:01,360
with a $25 royalty

435
00:21:01,360 --> 00:21:02,560
until we recover

436
00:21:02,560 --> 00:21:05,520
30% of our original investment.

437
00:21:07,160 --> 00:21:09,520
Oh, it's a lot to think about.

438
00:21:11,640 --> 00:21:13,080
Don't you think that's fair?

439
00:21:13,080 --> 00:21:16,520
Don't make that face at me!
(SHARKS LAUGH)

440
00:21:16,520 --> 00:21:19,960
This is the Christmas sweater king.
Yeah, that's true.

441
00:21:19,960 --> 00:21:23,280
In the US, I invested in a company
called Tipsy Elves

442
00:21:23,280 --> 00:21:26,000
that made inappropriate,
ugly Christmas sweaters.

443
00:21:27,280 --> 00:21:29,520
It's a fun lifestyle brand.

444
00:21:29,520 --> 00:21:31,680
We'll do $125 million this year.

445
00:21:31,680 --> 00:21:33,600
Wow!

446
00:21:33,600 --> 00:21:35,880
Christmas is huge.

447
00:21:35,880 --> 00:21:37,920
Holidays are huge in America.

448
00:21:42,800 --> 00:21:44,680
Look, I'm here to do a deal.

449
00:21:47,160 --> 00:21:51,240
Would you consider
lowering your equity stake

450
00:21:51,240 --> 00:21:52,640
to 20%?

451
00:21:52,640 --> 00:21:54,640
(TENSE MUSIC)

452
00:21:55,720 --> 00:21:57,120
No.

453
00:21:57,120 --> 00:22:01,520
I think...
I'm gonna stick to the 30%.

454
00:22:02,840 --> 00:22:04,160
(INHALES SHARPLY)

455
00:22:13,040 --> 00:22:15,200
Would you consider...

456
00:22:15,200 --> 00:22:18,280
..lowering your equity stake
to 20%?

457
00:22:23,280 --> 00:22:24,280
No.

458
00:22:24,280 --> 00:22:28,720
I think I'm gonna stick to the 30%.

459
00:22:28,720 --> 00:22:30,000
Davie?

460
00:22:30,000 --> 00:22:31,760
Yep. 30%.

461
00:22:39,600 --> 00:22:43,840
I've...I've put so much of myself
into this brand

462
00:22:43,840 --> 00:22:46,880
and I really wanna see it succeed.

463
00:22:59,880 --> 00:23:02,080
And so I'm excited to say
I wanna do the deal.

464
00:23:02,080 --> 00:23:03,280
Amazing.

465
00:23:03,280 --> 00:23:06,720
I wasn't sure what
you were gonna say!

466
00:23:06,720 --> 00:23:09,960
SARAH: A festive deal
has been struck.

467
00:23:09,960 --> 00:23:14,280
Katie joins forces with Davie
Fogarty and Robert Herjavec

468
00:23:14,280 --> 00:23:16,600
to elevate her seasonal business,

469
00:23:16,600 --> 00:23:18,800
Holiday Celebration Trees.

470
00:23:18,800 --> 00:23:20,640
There was a moment I thought...

471
00:23:20,640 --> 00:23:24,640
When Jane pulled out, I thought,
"Oh, my gosh, I've lost this."

472
00:23:24,640 --> 00:23:28,400
But yeah, I can't believe
I managed to get a deal.

473
00:23:29,760 --> 00:23:32,320
I'm just really looking forward
to spreading holiday cheer

474
00:23:32,320 --> 00:23:34,240
across the world with
Davie and Robert.

475
00:23:41,440 --> 00:23:44,960
Hoping to unleash his product
across the world

476
00:23:44,960 --> 00:23:48,440
is 29-year-old engineering student
Ming Ye

477
00:23:48,440 --> 00:23:52,880
who is keen to shake up
a growing transportation industry.

478
00:23:53,920 --> 00:23:56,960
Going into the Shark Tank today
means a lot to me.

479
00:23:56,960 --> 00:24:00,000
I've been watching this show
before I started the company.

480
00:24:00,000 --> 00:24:01,960
I can't believe I'm here now.

481
00:24:01,960 --> 00:24:03,840
ROBERT: Do you own
one of these, Sabri?

482
00:24:03,840 --> 00:24:06,040
I certainly do. I own many of them.

483
00:24:06,040 --> 00:24:08,160
Aren't there thousands of these?

484
00:24:08,160 --> 00:24:09,640
There are.
There are so many.

485
00:24:09,640 --> 00:24:11,760
And thousands of manufacturers?

486
00:24:11,760 --> 00:24:13,640
And thousands of competitors?

487
00:24:13,640 --> 00:24:15,800
But that means there'll be
something special about this.

488
00:24:15,800 --> 00:24:17,920
Oh! AI.

489
00:24:17,920 --> 00:24:19,680
(LAUGHS)
It's...probably.

490
00:24:19,680 --> 00:24:21,040
Yeah.

491
00:24:35,840 --> 00:24:38,080
Hello, Sharks. My name is Ming.

492
00:24:38,080 --> 00:24:41,200
Today I'm presenting my company,
Mearth Scooters, to you.

493
00:24:42,560 --> 00:24:44,480
I started the company six years ago

494
00:24:44,480 --> 00:24:47,120
while I was
in mechatronics engineering

495
00:24:47,120 --> 00:24:48,360
in the University of Sydney.

496
00:24:49,960 --> 00:24:52,760
Electric vehicles is
the future of transportation.

497
00:24:52,760 --> 00:24:56,440
It could bring you out of
congestions during peak hours,

498
00:24:56,440 --> 00:24:59,920
no more tolls to pay,
no more parking fees.

499
00:24:59,920 --> 00:25:01,400
And it could reduce your

500
00:25:01,400 --> 00:25:04,440
transportation carbon emissions
by 80%.

501
00:25:04,440 --> 00:25:08,240
Most importantly,
it is very, very fun to use

502
00:25:08,240 --> 00:25:09,760
every single time.

503
00:25:09,760 --> 00:25:14,200
Sharks, I'm looking for
a $250,000 total investment

504
00:25:14,200 --> 00:25:16,520
in exchange of 1.8% of my company.

505
00:25:16,520 --> 00:25:17,520
Whoa.
Wow.

506
00:25:17,520 --> 00:25:19,640
Whoo!
Whoo-ee!

507
00:25:20,920 --> 00:25:24,040
I would love to have a Shark
to join me in this exciting journey.

508
00:25:24,040 --> 00:25:26,640
Now, who's ready for
a ride to the future?

509
00:25:26,640 --> 00:25:28,440
Alright, let's have a go.

510
00:25:28,440 --> 00:25:31,280
Yeah! (LAUGHS)
I thought you'd never ask.

511
00:25:31,280 --> 00:25:33,680
Oh, you need a helmet.
You need a helmet.

512
00:25:33,680 --> 00:25:35,160
Alright.
Let's get helmets.

513
00:25:35,160 --> 00:25:40,880
SARAH: Hoping he has a smooth ride
to a $250,000 investment

514
00:25:40,880 --> 00:25:44,880
for just 1.8% of his company,

515
00:25:44,880 --> 00:25:46,880
can Ming convince the Sharks

516
00:25:46,880 --> 00:25:49,040
there'll be no bumps in the road?

517
00:25:49,040 --> 00:25:51,760
Give a kick and then...
Oh, you got it.

518
00:25:51,760 --> 00:25:53,440
Whoa!

519
00:25:53,440 --> 00:25:57,040
Oh, go, Sabs.
Sabri knows what he's doing.

520
00:25:58,200 --> 00:26:00,720
SABRI: And this one has, like,
a very unique noise to it.

521
00:26:00,720 --> 00:26:02,800
CATRIONA: I like the noise.

522
00:26:02,800 --> 00:26:05,000
(SCOOTERS ZOOM)

523
00:26:05,000 --> 00:26:07,520
Whoo! (LAUGHS)

524
00:26:07,520 --> 00:26:09,280
Gone the wrong way!
'Bye, Davie.

525
00:26:09,280 --> 00:26:11,080
Hey!

526
00:26:11,080 --> 00:26:12,760
That's pretty good.

527
00:26:14,320 --> 00:26:15,800
Very fun.
Very fun.

528
00:26:16,800 --> 00:26:20,120
SARAH: With the product
tried and tested by the Sharks,

529
00:26:20,120 --> 00:26:22,560
Sabri Suby is keen to understand

530
00:26:22,560 --> 00:26:24,680
Mearth Scooters'
unique selling point.

531
00:26:24,680 --> 00:26:26,440
I've got three kids.

532
00:26:26,440 --> 00:26:28,680
We ride electric scooters.

533
00:26:28,680 --> 00:26:31,080
Can you tell us a little bit
about how these are different

534
00:26:31,080 --> 00:26:33,520
from all the existing e-scooters
that are on the market right now?

535
00:26:33,520 --> 00:26:36,600
Of course. So first of all,
Mearth is very innovative.

536
00:26:36,600 --> 00:26:38,160
We were the first one who adapt

537
00:26:38,160 --> 00:26:41,680
the 21700 battery cells
in an e-scooter in Australia.

538
00:26:41,680 --> 00:26:44,160
That means the entire scooter
will be lighter,

539
00:26:44,160 --> 00:26:47,760
will be more powerful, it can go
further away, faster charging.

540
00:26:47,760 --> 00:26:49,760
SABRI: But do all manufacturers
of e-scooters

541
00:26:49,760 --> 00:26:51,320
have access to that battery?

542
00:26:51,320 --> 00:26:55,440
Eventually, most of them will
get into that technology.

543
00:26:55,440 --> 00:26:58,080
So how many other scooter brands
on the market right now

544
00:26:58,080 --> 00:26:59,840
are currently using
that battery technology?

545
00:26:59,840 --> 00:27:02,760
Right now, I would say, uh...a few.

546
00:27:03,960 --> 00:27:05,480
Are there other benefits
to your scooter?

547
00:27:05,480 --> 00:27:06,960
Yes, of course.

548
00:27:06,960 --> 00:27:09,640
For example, this one's got
a removable battery design.

549
00:27:09,640 --> 00:27:12,960
So you can just unclick
and take the battery out,

550
00:27:12,960 --> 00:27:14,440
leave the scooter behind.

551
00:27:14,440 --> 00:27:16,600
Just take the much smaller
battery with you,

552
00:27:16,600 --> 00:27:18,160
charge it under your desk.

553
00:27:18,160 --> 00:27:20,720
That's it.
No other scooter has that?

554
00:27:20,720 --> 00:27:22,640
On same price range, no.

555
00:27:22,640 --> 00:27:25,680
Is that something that
you've tried to patent?

556
00:27:25,680 --> 00:27:28,320
Do you have any kind of intellectual
property around this product?

557
00:27:28,320 --> 00:27:32,560
No, we've decided not to go with the
patent because...for a few reasons.

558
00:27:32,560 --> 00:27:34,560
We have to improve our design
on a yearly basis.

559
00:27:34,560 --> 00:27:36,120
It would cost us a fortune.

560
00:27:36,120 --> 00:27:38,200
But you can still get
a patent for...

561
00:27:38,200 --> 00:27:39,200
Something.

562
00:27:39,200 --> 00:27:40,760
..like, the method of inserting it

563
00:27:40,760 --> 00:27:43,160
into, like, that cylinder
for the electric scooter, right?

564
00:27:43,160 --> 00:27:45,520
And then that can apply
to the future models.

565
00:27:46,640 --> 00:27:48,400
SARAH: Lack of patent aside,

566
00:27:48,400 --> 00:27:51,440
Robert Herjavec is keen
to get down to the numbers.

567
00:27:52,720 --> 00:27:54,800
Ming, what do they cost?

568
00:27:54,800 --> 00:27:58,160
For this one, we're selling
this one for $700.

569
00:27:58,160 --> 00:28:01,760
They will cost us...
Our profit margin is about 100%.

570
00:28:01,760 --> 00:28:03,720
Is that the entry level?
Yes.

571
00:28:03,720 --> 00:28:05,960
Sorry, what's your cost on it?

572
00:28:05,960 --> 00:28:07,800
That would be around 350.

573
00:28:07,800 --> 00:28:11,040
And what's your selling price
for the big one?

574
00:28:11,040 --> 00:28:13,640
For the most expensive one,
that would be $4,000.

575
00:28:13,640 --> 00:28:14,920
JANE: Wow!

576
00:28:14,920 --> 00:28:17,440
Let's not move on
from that valuation, right?

577
00:28:17,440 --> 00:28:20,760
'Cause you're asking for $250,000

578
00:28:20,760 --> 00:28:23,480
for 1.8%.

579
00:28:23,480 --> 00:28:26,320
That is one crazy valuation.

580
00:28:26,320 --> 00:28:31,520
You're valuing your company
at $12.5 million!

581
00:28:31,520 --> 00:28:32,920
Yep.

582
00:28:32,920 --> 00:28:34,800
So unpack that for us.

583
00:28:37,880 --> 00:28:39,000
Uh...

584
00:28:47,360 --> 00:28:52,480
You're valuing your company
at $12.5 million!

585
00:28:52,480 --> 00:28:54,400
SARAH: Engineer Ming Ye

586
00:28:54,400 --> 00:28:56,640
has come into the Tank
seeking investment

587
00:28:56,640 --> 00:28:59,240
of $250,000

588
00:28:59,240 --> 00:29:03,800
in return for just
1.8% of his business,

589
00:29:03,800 --> 00:29:08,080
a valuation the Sharks are finding
a little hard to swallow.

590
00:29:08,080 --> 00:29:09,600
So unpack that for us.

591
00:29:09,600 --> 00:29:12,880
So we had approximately $1 million
in sales, slightly under,

592
00:29:12,880 --> 00:29:14,360
two years ago.

593
00:29:14,360 --> 00:29:15,480
Two years ago.

594
00:29:15,480 --> 00:29:18,080
Two years ago. Last year,
we had 3.5 million sales.

595
00:29:18,080 --> 00:29:19,080
JANE: Wow!

596
00:29:19,080 --> 00:29:21,080
And this year, we're expecting
to have 2 millions more,

597
00:29:21,080 --> 00:29:22,480
reaching 5.5 millions.

598
00:29:22,480 --> 00:29:23,480
Go, Ming!

599
00:29:23,480 --> 00:29:25,080
And selling in...

600
00:29:25,080 --> 00:29:26,240
Australia only.
..Australia only.

601
00:29:26,240 --> 00:29:27,760
Well done!

602
00:29:27,760 --> 00:29:29,560
And what's your profit on that?

603
00:29:29,560 --> 00:29:33,200
The gross profit is
approximately 40% to 45%.

604
00:29:33,200 --> 00:29:34,880
Wow!

605
00:29:36,080 --> 00:29:38,400
To get from 3.5 million in sales

606
00:29:38,400 --> 00:29:41,240
to a valuation of 12.5

607
00:29:41,240 --> 00:29:43,720
at, like, almost
a four times multiple,

608
00:29:43,720 --> 00:29:45,680
like, that's...that's a lot.

609
00:29:48,080 --> 00:29:51,120
I don't like capital-intensive
businesses that require

610
00:29:51,120 --> 00:29:52,600
a lot of R&D.

611
00:29:52,600 --> 00:29:56,280
And I think the valuation just
doesn't factor in all the risks

612
00:29:56,280 --> 00:29:57,600
that are associated...

613
00:29:57,600 --> 00:29:59,360
Right.
..with growing a business.

614
00:29:59,360 --> 00:30:02,720
So for a retail consumer product,
we can't just look at

615
00:30:02,720 --> 00:30:05,400
what do we think
the future sales could be?

616
00:30:05,400 --> 00:30:09,280
You have to actually look at
what past sales were.

617
00:30:09,280 --> 00:30:13,000
And so for this investment, I'm out.

618
00:30:13,000 --> 00:30:14,200
Thank you, Jane.

619
00:30:14,200 --> 00:30:17,800
I'm a little bit challenged
with your valuation.

620
00:30:17,800 --> 00:30:21,640
It seems a little bit high,
as my sister, Jane, said.

621
00:30:21,640 --> 00:30:24,720
I might become a customer,
but today, unfortunately,

622
00:30:24,720 --> 00:30:26,840
I won't be investing.

623
00:30:26,840 --> 00:30:29,960
So for those reasons, I'm out.

624
00:30:29,960 --> 00:30:31,240
Thank you very much.

625
00:30:31,240 --> 00:30:33,320
Ming, when I look at an investment,

626
00:30:33,320 --> 00:30:36,040
I look at...the entrepreneur,

627
00:30:36,040 --> 00:30:38,000
and you're amazing.

628
00:30:38,000 --> 00:30:40,680
I look at the track record. Amazing.

629
00:30:41,680 --> 00:30:45,080
What worries me about
this business is

630
00:30:45,080 --> 00:30:48,040
a big competitor may come along
and change the entire game

631
00:30:48,040 --> 00:30:50,240
with a better battery or something

632
00:30:50,240 --> 00:30:52,880
and then my company and my money

633
00:30:52,880 --> 00:30:55,200
is sad.

634
00:30:56,200 --> 00:30:57,840
I don't want my money to be sad.

635
00:31:00,280 --> 00:31:01,680
I'm out.

636
00:31:01,680 --> 00:31:03,480
Thank you, Robert.

637
00:31:06,080 --> 00:31:09,040
100,000 or so in net profit,
you said.

638
00:31:09,040 --> 00:31:10,040
Right.

639
00:31:10,040 --> 00:31:12,400
But you're valuing the business
at $12 million.

640
00:31:12,400 --> 00:31:15,880
Right, because we have retailers
across Australia,

641
00:31:15,880 --> 00:31:18,120
including some big names
like Harvey Norman,

642
00:31:18,120 --> 00:31:20,880
Decathlon, Bing Lee.

643
00:31:20,880 --> 00:31:23,680
And not just that - one of
the things we're proud of is

644
00:31:23,680 --> 00:31:26,880
we have a licence with a superhero IP

645
00:31:26,880 --> 00:31:29,080
that we'll be making the classic...

646
00:31:29,080 --> 00:31:31,360
..one of the classic
superhero mobiles.

647
00:31:31,360 --> 00:31:32,840
Oh, that's cool!

648
00:31:32,840 --> 00:31:35,920
You mean like a superhero character?
Right.

649
00:31:35,920 --> 00:31:38,080
Like a Batman scooter.

650
00:31:40,440 --> 00:31:44,000
SARAH: With three Sharks already
putting the brakes on investment,

651
00:31:44,000 --> 00:31:47,360
will news of Ming's
superhero licensing deal

652
00:31:47,360 --> 00:31:50,360
have the power to sway
the remaining Sharks,

653
00:31:50,360 --> 00:31:53,400
Davie Fogarty or Sabri Suby?

654
00:31:55,160 --> 00:31:56,960
What are your thoughts
on that, Davie?

655
00:31:56,960 --> 00:31:59,120
I think the licensing idea
is genius.

656
00:32:00,600 --> 00:32:03,160
I think you have
a cracking business here

657
00:32:03,160 --> 00:32:06,360
just by doing those licensing,
connecting with new audiences,

658
00:32:06,360 --> 00:32:08,200
so I think there's
definitely that play.

659
00:32:09,400 --> 00:32:12,840
I just don't know when I would get
the cash flow from the business

660
00:32:12,840 --> 00:32:14,320
to pay back the investment.

661
00:32:14,320 --> 00:32:16,360
Unfortunately,

662
00:32:16,360 --> 00:32:18,320
I'm out.

663
00:32:18,320 --> 00:32:20,320
Thank you.

664
00:32:20,320 --> 00:32:22,320
When I saw you walk on in here,

665
00:32:22,320 --> 00:32:23,880
and I saw this product,

666
00:32:23,880 --> 00:32:26,720
clearly a very,
very talented engineer.

667
00:32:28,040 --> 00:32:31,000
But for me,
I'm the marketing guy, right?

668
00:32:31,000 --> 00:32:33,560
And when I look at this product
and I look at

669
00:32:33,560 --> 00:32:35,960
what is out there on the market,

670
00:32:35,960 --> 00:32:38,440
these do look very close
to the other ones.

671
00:32:38,440 --> 00:32:40,760
They're priced at
a similar price point.

672
00:32:40,760 --> 00:32:42,240
So when I think about being

673
00:32:42,240 --> 00:32:44,160
in the shoes of the consumer
for this product,

674
00:32:44,160 --> 00:32:46,160
it becomes very, very difficult

675
00:32:46,160 --> 00:32:48,120
to try and convince that consumer

676
00:32:48,120 --> 00:32:50,640
of the value proposition
that we have in front of us.

677
00:32:54,360 --> 00:32:55,920
So for those reasons, I'm out.

678
00:32:57,680 --> 00:32:59,520
Thank you.

679
00:32:59,520 --> 00:33:01,040
Thanks, Ming.
Thanks, Ming.

680
00:33:01,040 --> 00:33:02,520
Thank you very much.
Great product.

681
00:33:02,520 --> 00:33:03,840
Thank you, mate.
Good job.

682
00:33:03,840 --> 00:33:04,880
Thank you.
See you, mate.

683
00:33:04,880 --> 00:33:07,960
SARAH: Despite a promising pitch
from Ming,

684
00:33:07,960 --> 00:33:10,520
he leaves the Tank with nothing.

685
00:33:10,520 --> 00:33:13,160
It was amazing to meet
the Sharks in person.

686
00:33:13,160 --> 00:33:15,720
Bit sad that I don't have
a deal with them.

687
00:33:15,720 --> 00:33:18,120
I think the Shark has
missed out an opportunity.

688
00:33:18,120 --> 00:33:20,560
I hope to do business with them
in the future.

689
00:33:28,160 --> 00:33:29,680
Amadou Doumbia

690
00:33:29,680 --> 00:33:31,400
is next to dive into the tank

691
00:33:31,400 --> 00:33:35,040
and knows exactly
what his business needs.

692
00:33:35,040 --> 00:33:37,240
I truly believe
the marketing genius of

693
00:33:37,240 --> 00:33:39,880
King Kong, Sabri, is
what the business deserves

694
00:33:39,880 --> 00:33:41,480
to get to the next level.

695
00:33:41,480 --> 00:33:43,560
I have been working hard,
exponentially,

696
00:33:43,560 --> 00:33:45,560
over the last few years
to get this business going.

697
00:33:45,560 --> 00:33:47,480
So I'm feeling extremely pumped.

698
00:33:47,480 --> 00:33:49,560
I believe this opportunity
can change my life today.

699
00:34:03,040 --> 00:34:05,680
Hi, Sharks! My name is Amadou
and I'm from Wuli Grooming.

700
00:34:05,680 --> 00:34:08,440
Today I'm seeking $150,000

701
00:34:08,440 --> 00:34:10,160
for 15% equity in my business.

702
00:34:11,720 --> 00:34:13,240
With this cream,

703
00:34:13,240 --> 00:34:14,960
I started my dream.

704
00:34:14,960 --> 00:34:17,040
It was created from the fact
that I realised

705
00:34:17,040 --> 00:34:19,200
there wasn't enough styling products
out there in the market

706
00:34:19,200 --> 00:34:22,200
that were well suited for curly-
and wavy-haired folks of the world.

707
00:34:22,200 --> 00:34:24,440
And my thought process was
if you can create something

708
00:34:24,440 --> 00:34:26,040
for the most sensitive
of hair types first,

709
00:34:26,040 --> 00:34:29,920
you can create an entire range
for everybody in the process.

710
00:34:29,920 --> 00:34:32,080
So Wuli Grooming is
a range of all-natural,

711
00:34:32,080 --> 00:34:34,680
Australian-made hairstyling products
for both men and women

712
00:34:34,680 --> 00:34:36,160
that's 100% vegan.

713
00:34:36,160 --> 00:34:39,160
And I'd like to share with you guys
and see how you feel about them.

714
00:34:39,160 --> 00:34:40,160
Please.

715
00:34:43,160 --> 00:34:45,040
So first I'll start with you, Robert.
Hello!

716
00:34:45,040 --> 00:34:47,440
This is our sea salt spray,
and that's neroli & sweet orange.

717
00:34:47,440 --> 00:34:49,880
This is our sea salt spray
in bergamot & vanilla.

718
00:34:49,880 --> 00:34:53,120
Hello, Davie. This is
our bergamot curl cream.

719
00:34:53,120 --> 00:34:55,160
The matte balm is ideal
for you, Davie.

720
00:34:55,160 --> 00:34:56,640
The matte balm?
The matte balm.

721
00:34:56,640 --> 00:34:58,280
Because of your finer hair texture,

722
00:34:58,280 --> 00:35:00,120
I created a perfect solution
for you as well.

723
00:35:00,120 --> 00:35:02,120
I hope you have
a perfect solution for me.

724
00:35:02,120 --> 00:35:03,760
I can't work miracles, unfortunately.

725
00:35:03,760 --> 00:35:06,720
(LAUGHS)
Ohh! Boom.

726
00:35:06,720 --> 00:35:10,160
Is there a little bit of
an accent that we're hearing?

727
00:35:10,160 --> 00:35:11,640
I was born in Mali,

728
00:35:11,640 --> 00:35:14,240
but I grew up in America,
New York City, most of my life.

729
00:35:14,240 --> 00:35:15,240
Right.

730
00:35:15,240 --> 00:35:17,120
And the name 'Wuli' actually
comes from my culture.

731
00:35:17,120 --> 00:35:19,040
It actually comes from
the dialect Bambara,

732
00:35:19,040 --> 00:35:20,960
which is the main dialect of Mali,

733
00:35:20,960 --> 00:35:23,440
and it means 'to wake up,
get up and grow up'.

734
00:35:23,440 --> 00:35:24,920
The whole ethos of the brand

735
00:35:24,920 --> 00:35:27,480
is to really awaken the best version
of yourself every day.

736
00:35:27,480 --> 00:35:28,480
Mmm.

737
00:35:28,480 --> 00:35:30,000
When did you start the business?

738
00:35:30,000 --> 00:35:31,720
Been in business now
for about 16 months.

739
00:35:31,720 --> 00:35:33,320
Yeah.
A little over.

740
00:35:33,320 --> 00:35:35,440
When we launched,
we actually did the markets.

741
00:35:35,440 --> 00:35:37,680
We've done virtually
all the markets in Sydney,

742
00:35:37,680 --> 00:35:40,080
from Kirribilli, the Shire, Bondi.

743
00:35:40,080 --> 00:35:42,320
But at the same time,
we've got an e-commerce store

744
00:35:42,320 --> 00:35:44,680
which I launched at the same time
as the business.

745
00:35:44,680 --> 00:35:45,680
Amadou.
Hi!

746
00:35:45,680 --> 00:35:49,120
First of all, the packaging,
the branding is great.

747
00:35:49,120 --> 00:35:52,240
This smells incredible, right?
Thank you. Thank you.

748
00:35:52,240 --> 00:35:55,160
So can you tell us a little bit
about the product, how it works?

749
00:35:55,160 --> 00:35:57,640
Is this a before-and-after photo
we can see here?

750
00:35:57,640 --> 00:35:59,360
When you have curly hair
in particular,

751
00:35:59,360 --> 00:36:01,800
the things you are really
fighting every day is frizz,

752
00:36:01,800 --> 00:36:03,800
breakage, knots,

753
00:36:03,800 --> 00:36:06,000
everything that the elements
throw at you.

754
00:36:06,000 --> 00:36:08,880
This stops that process happening
in the tracks.

755
00:36:08,880 --> 00:36:10,480
What it does is, as you can see,

756
00:36:10,480 --> 00:36:13,320
it keeps those curls
nice and soft and defined.

757
00:36:13,320 --> 00:36:16,080
Do you have a sales background?
No.

758
00:36:16,080 --> 00:36:18,160
You're amazing.
You fooled me.

759
00:36:18,160 --> 00:36:21,440
So this takes about
an hour and a half

760
00:36:21,440 --> 00:36:25,160
to calm all this down
and get it looking like this.

761
00:36:25,160 --> 00:36:29,800
And I struggle with all the problems
that you have mentioned.

762
00:36:29,800 --> 00:36:32,920
Nothing yet has really
nailed it for me.

763
00:36:32,920 --> 00:36:35,280
People are still
not really quite understanding

764
00:36:35,280 --> 00:36:38,000
what goes into looking after
curly hair properly.

765
00:36:38,000 --> 00:36:41,680
I designed this brand to be
as lazy-proof as possible.

766
00:36:41,680 --> 00:36:43,720
OK. I'm lazy. I'm hair-lazy.

767
00:36:43,720 --> 00:36:45,440
Jane, are you hair-lazy?

768
00:36:45,440 --> 00:36:47,240
I'm...lazy in general.
(OTHERS LAUGH)

769
00:36:47,240 --> 00:36:50,880
She's the lazy CEO over there.
The CEO! (LAUGHS)

770
00:36:50,880 --> 00:36:53,080
But nobody has the same high level

771
00:36:53,080 --> 00:36:54,960
of active ingredients
in their products like I do

772
00:36:54,960 --> 00:36:57,360
and that's really one of the biggest
things that makes mine different.

773
00:36:58,720 --> 00:37:00,360
So I'm interested to know

774
00:37:00,360 --> 00:37:02,720
what price do you charge
for these products.

775
00:37:02,720 --> 00:37:06,280
Sure, they are retailed at 34.95
Australian for the sea salt spray,

776
00:37:06,280 --> 00:37:09,080
44.95 for the curl cream
and the matte balms.

777
00:37:09,080 --> 00:37:11,040
And in terms of cost,

778
00:37:11,040 --> 00:37:13,120
they are priced currently at 8.95

779
00:37:13,120 --> 00:37:15,040
for the sea salt spray,
to produce one unit,

780
00:37:15,040 --> 00:37:18,720
and $11.26 for the matte balm
and the shine balm.

781
00:37:18,720 --> 00:37:21,840
OK. I assume that with
the sea salt spray and the balm,

782
00:37:21,840 --> 00:37:23,320
you sell them as a bundle with...

783
00:37:23,320 --> 00:37:25,960
I...I do.
Tell me about that, my man.

784
00:37:25,960 --> 00:37:28,920
I call it the Crown of Curls Bundle.
Hoo-ee! Let's go.

785
00:37:28,920 --> 00:37:30,840
It is my best seller of all

786
00:37:30,840 --> 00:37:32,480
and that retails for 69.95.

787
00:37:32,480 --> 00:37:34,800
69.95.
So 71% margin.

788
00:37:34,800 --> 00:37:35,960
Whoa.

789
00:37:37,480 --> 00:37:39,120
Amadou, when you were selling...

790
00:37:39,120 --> 00:37:41,720
In the last year, you said
you were at the markets.

791
00:37:41,720 --> 00:37:42,880
Yep.

792
00:37:42,880 --> 00:37:45,760
And you also said
you were selling online.

793
00:37:45,760 --> 00:37:47,960
Mmm.
Did you have sales?

794
00:37:47,960 --> 00:37:49,720
This year, we've generated so far

795
00:37:49,720 --> 00:37:51,560
$23,000 in sales

796
00:37:51,560 --> 00:37:54,800
and we're on target to be hitting
$150,000 this year in revenue.

797
00:37:54,800 --> 00:37:59,480
What percentage was online,
what percentage was in the market?

798
00:37:59,480 --> 00:38:02,000
I'll be honest with you -
the percentage online was small.

799
00:38:02,000 --> 00:38:03,560
The percentage online
was roughly about

800
00:38:03,560 --> 00:38:06,440
I'd say 15-20%
of all of our total sales.

801
00:38:06,440 --> 00:38:09,360
You are an amazing salesman.

802
00:38:09,360 --> 00:38:13,800
You're one of the best salespeople
we've had on the show.

803
00:38:13,800 --> 00:38:15,160
Period.
True.

804
00:38:15,160 --> 00:38:17,800
It's unbelievable -
I've never had somebody say to me,

805
00:38:17,800 --> 00:38:20,320
"I have very low sales,"
in such a nice way.

806
00:38:20,320 --> 00:38:23,640
(LAUGHS)
And I'm still so excited!

807
00:38:23,640 --> 00:38:27,200
But tell me how you're gonna scale.

808
00:38:27,200 --> 00:38:29,240
I firmly believe
the professional approach

809
00:38:29,240 --> 00:38:30,760
is the right approach to go to.

810
00:38:30,760 --> 00:38:33,040
When people are trying new
styling products in particular,

811
00:38:33,040 --> 00:38:35,320
they wanna be able to get
that buy-in from their hairdresser

812
00:38:35,320 --> 00:38:37,320
to really feel confident about
the products that they're buying.

813
00:38:37,320 --> 00:38:40,400
So I buy that. So how are you gonna
get to those people?

814
00:38:40,400 --> 00:38:42,000
Working through distributors.

815
00:38:42,000 --> 00:38:44,680
I've been actually having
conversations with distributors

816
00:38:44,680 --> 00:38:47,680
who have that element of the game
sorted out.

817
00:38:48,760 --> 00:38:50,360
(EXHALES DEEPLY)

818
00:38:50,360 --> 00:38:52,960
But I also know my knowledge
is limited.

819
00:38:54,160 --> 00:38:57,400
For me, part of the equation is you.

820
00:38:58,720 --> 00:39:00,960
But the other part of the equation
is the business.

821
00:39:00,960 --> 00:39:03,880
Yeah.
You did 33,000 in the first year.

822
00:39:03,880 --> 00:39:06,000
You didn't do any of it online.

823
00:39:06,000 --> 00:39:07,800
You're only selling at markets.

824
00:39:07,800 --> 00:39:09,600
But you're telling me

825
00:39:09,600 --> 00:39:12,040
that the business is worth
about a million dollars

826
00:39:12,040 --> 00:39:13,720
a year in.

827
00:39:16,360 --> 00:39:19,120
Fully cold on the numbers,

828
00:39:19,120 --> 00:39:20,880
why is it worth a million dollars?

829
00:39:20,880 --> 00:39:23,560
I would say because of
the scale of distribution

830
00:39:23,560 --> 00:39:26,120
that we have in the pipeline,
working on.

831
00:39:28,880 --> 00:39:31,480
It's gonna be a slow start.
I have to be honest about that.

832
00:39:31,480 --> 00:39:33,320
But the potential is what's there

833
00:39:33,320 --> 00:39:35,200
to be able to reach that
million-dollar valuation,

834
00:39:35,200 --> 00:39:37,440
in my honest belief,
within a year's time.

835
00:39:38,640 --> 00:39:40,200
Yeah, I...

836
00:39:40,200 --> 00:39:43,240
I don't buy that explanation.

837
00:39:43,240 --> 00:39:44,360
OK.

838
00:39:46,720 --> 00:39:48,520
I would invest in you all day long.

839
00:39:50,960 --> 00:39:53,000
But I don't buy the explanation
for the business.

840
00:39:54,000 --> 00:39:55,480
I'm out.

841
00:39:55,480 --> 00:39:56,680
Thank you, Robert.

842
00:39:57,760 --> 00:39:59,360
Amadou, believe it or not,

843
00:39:59,360 --> 00:40:01,200
I've actually sold hair products
before online.

844
00:40:01,200 --> 00:40:03,000
You're kidding!
What?

845
00:40:03,000 --> 00:40:05,800
I was selling shampoo.
Yep.

846
00:40:05,800 --> 00:40:07,760
There are just so many products...

847
00:40:07,760 --> 00:40:09,160
That's right.
..on the market.

848
00:40:09,160 --> 00:40:10,640
We needed to make it unique.

849
00:40:10,640 --> 00:40:13,520
We turned it into a kit,
packaged it completely different.

850
00:40:13,520 --> 00:40:17,160
And we got it to
about $200,000 a month

851
00:40:17,160 --> 00:40:19,680
and it was still just
a brutally competitive market

852
00:40:19,680 --> 00:40:22,800
and it just wasn't scaling
how I would have hoped.

853
00:40:22,800 --> 00:40:26,120
So I'm personally scarred
about this...this product.

854
00:40:26,120 --> 00:40:27,600
Ohh!

855
00:40:27,600 --> 00:40:30,760
I'd love to invest in you,
but I don't wanna invest in this.

856
00:40:30,760 --> 00:40:31,760
I'm out.

857
00:40:31,760 --> 00:40:34,480
Thank you, Davie. Appreciate that.

858
00:40:34,480 --> 00:40:35,840
JANE: Amadou...

859
00:40:35,840 --> 00:40:39,360
I love any product
that's lazy-proof.

860
00:40:39,360 --> 00:40:41,040
That sounds great.

861
00:40:41,040 --> 00:40:43,080
But I don't love...

862
00:40:43,080 --> 00:40:45,680
Like Robert, I don't love
the valuation.

863
00:40:50,080 --> 00:40:52,280
For that reason, I'm out.

864
00:40:54,440 --> 00:40:58,320
And, Amadou, you know, I was kinda
gonna try and see if I can

865
00:40:58,320 --> 00:41:00,920
get in here, because I love you
and I love your product.

866
00:41:00,920 --> 00:41:04,240
But unfortunately, the business,
at this stage, is not for me.

867
00:41:04,240 --> 00:41:06,120
So I'm out.

868
00:41:06,120 --> 00:41:07,120
I understand.

869
00:41:07,120 --> 00:41:08,720
If there's one thing
I can quickly say

870
00:41:08,720 --> 00:41:10,200
before, Sabri, you also
give your feedback,

871
00:41:10,200 --> 00:41:11,800
when I came here today,

872
00:41:11,800 --> 00:41:15,040
the money was part...
was obviously a big goal of mine,

873
00:41:15,040 --> 00:41:17,240
but the bigger goal was
really the opportunity

874
00:41:17,240 --> 00:41:19,400
of learning and possibly mentorship
from you Sharks.

875
00:41:19,400 --> 00:41:21,600
That was really the big thing
that was sold on me.

876
00:41:21,600 --> 00:41:26,080
'Cause I know that would be far more
valuable to me than anything else.

877
00:41:26,080 --> 00:41:29,080
Why haven't you factored that into
your valuation today?

878
00:41:30,120 --> 00:41:31,880
Why didn't I?
Yeah.

879
00:41:34,160 --> 00:41:35,920
I suppose... (SIGHS)

880
00:41:39,160 --> 00:41:41,200
I suppose I didn't factor that
into the valuation

881
00:41:41,200 --> 00:41:42,680
because I was thinking about

882
00:41:42,680 --> 00:41:45,000
what would be a number
that actually looks like

883
00:41:45,000 --> 00:41:46,920
an impressive investment opportunity
for you guys,

884
00:41:46,920 --> 00:41:48,400
if I'm genuinely honest.

885
00:41:48,400 --> 00:41:53,280
Don't discredit the money and say,
"I'm just here for the mentoring."

886
00:41:53,280 --> 00:41:56,280
I can either give you $150,000

887
00:41:56,280 --> 00:42:01,400
or I can give my five children's
inheritance $150,000.

888
00:42:01,400 --> 00:42:03,400
This is hard-earned cash of ours

889
00:42:03,400 --> 00:42:07,120
and we want something that
we really feel good about.

890
00:42:07,120 --> 00:42:09,560
And we want to give our money
to good businesses

891
00:42:09,560 --> 00:42:11,280
and we want you to take our money...

892
00:42:11,280 --> 00:42:12,280
Yeah.

893
00:42:12,280 --> 00:42:15,040
..if it's a really good deal
for us and for you.

894
00:42:16,880 --> 00:42:18,360
Let me tell you where I stand.

895
00:42:18,360 --> 00:42:21,760
When you walked in,
I saw this up there.

896
00:42:21,760 --> 00:42:23,720
I was like, "Man,
I love the packaging.

897
00:42:23,720 --> 00:42:25,200
"Love the branding.

898
00:42:25,200 --> 00:42:28,400
"This is a product
that I can get behind."

899
00:42:28,400 --> 00:42:30,240
I was so excited by that, right?

900
00:42:30,240 --> 00:42:32,920
I come from a huge family.
I have seven aunties.

901
00:42:32,920 --> 00:42:35,160
Yep.
33 first cousins.

902
00:42:35,160 --> 00:42:37,520
And all of them have hair
that look like that, right?

903
00:42:37,520 --> 00:42:39,080
ROBERT: Are you kidding?
No.

904
00:42:39,080 --> 00:42:41,520
Then you started to speak.

905
00:42:42,760 --> 00:42:44,920
And it was like magic to my ears.

906
00:42:46,640 --> 00:42:49,880
And then, you know, the valuation
that you're giving your business...

907
00:42:52,120 --> 00:42:53,560
..was a bit of a kick.

908
00:43:00,240 --> 00:43:01,960
(EXHALES DEEPLY)

909
00:43:05,920 --> 00:43:09,120
SARAH: Watch everyday Aussies
go after their business dreams

910
00:43:09,120 --> 00:43:11,120
with full episodes of
Shark Tank Australia

911
00:43:11,120 --> 00:43:12,600
on 10 play.

912
00:43:21,440 --> 00:43:23,320
SARAH: Amadou is in the Tank

913
00:43:23,320 --> 00:43:25,520
hoping to entice the Sharks

914
00:43:25,520 --> 00:43:28,600
to invest $150,000

915
00:43:28,600 --> 00:43:31,480
into his vegan hair-care business.

916
00:43:32,960 --> 00:43:35,400
Despite being praised for his pitch,

917
00:43:35,400 --> 00:43:38,480
four of the five Sharks are out.

918
00:43:38,480 --> 00:43:43,840
Sabri Suby is Amadou's last chance
of an investment.

919
00:43:45,120 --> 00:43:47,080
Let me tell you where I stand.

920
00:43:47,080 --> 00:43:49,760
When you walked in,
I saw this up there.

921
00:43:49,760 --> 00:43:51,840
I was like, "Man,
I love the packaging.

922
00:43:51,840 --> 00:43:53,600
"Love the branding.

923
00:43:53,600 --> 00:43:56,200
"This is a product
that I can get behind."

924
00:43:56,200 --> 00:43:58,480
I was so excited by that, right?

925
00:43:58,480 --> 00:44:00,880
I come from a huge family.
I have seven aunties.

926
00:44:00,880 --> 00:44:03,400
Yep.
33 first cousins.

927
00:44:03,400 --> 00:44:06,000
And all of them have hair
that look like that, right?

928
00:44:06,000 --> 00:44:07,880
Then you started to speak.

929
00:44:09,560 --> 00:44:12,000
And it was like magic to my ears.

930
00:44:17,960 --> 00:44:19,440
(EXHALES DEEPLY)

931
00:44:25,000 --> 00:44:26,600
But I can see that you're a winner.

932
00:44:29,240 --> 00:44:30,640
(CHUCKLES)

933
00:44:30,640 --> 00:44:32,880
I can see that

934
00:44:32,880 --> 00:44:35,840
you're obviously willing
to roll up your sleeves

935
00:44:35,840 --> 00:44:37,320
and do the hard work.

936
00:44:37,320 --> 00:44:39,840
You've been out there hustling
at the markets.

937
00:44:39,840 --> 00:44:42,560
This is going to be a slog.

938
00:44:42,560 --> 00:44:44,120
Yeah.

939
00:44:45,880 --> 00:44:47,560
I am gonna make you an offer.

940
00:44:50,000 --> 00:44:51,600
I will offer you...

941
00:44:55,600 --> 00:44:57,200
..all of the money...

942
00:45:06,080 --> 00:45:09,040
..but I will need
45% of the business...

943
00:45:10,520 --> 00:45:12,120
..and a $2 royalty...

944
00:45:13,520 --> 00:45:15,120
..until the money's paid back.

945
00:45:16,920 --> 00:45:18,560
Wow. OK.

946
00:45:22,600 --> 00:45:24,480
Can I have a minute
to think about that?

947
00:45:35,640 --> 00:45:37,960
Shh!

948
00:45:40,640 --> 00:45:42,720
(WHISPERS INDISTINCTLY)

949
00:45:44,320 --> 00:45:45,840
Hmm.

950
00:45:52,400 --> 00:45:53,680
SABRI:

951
00:45:57,280 --> 00:45:58,560
Yep.

952
00:46:01,160 --> 00:46:03,640
Sabri, thank you for that offer.

953
00:46:03,640 --> 00:46:05,360
Would you consider a counteroffer...

954
00:46:07,160 --> 00:46:09,440
..of 30% equity for 150,000

955
00:46:09,440 --> 00:46:12,120
with the royalties inclusive?

956
00:46:21,400 --> 00:46:23,440
I...I just can't go down to 30%.

957
00:46:23,440 --> 00:46:25,920
I know how much work's gonna be
required from myself

958
00:46:25,920 --> 00:46:28,760
and how much mentorship
is gonna go into it.

959
00:46:38,680 --> 00:46:40,440
But I will meet you at 40%.

960
00:46:45,560 --> 00:46:47,280
OK.

961
00:46:57,560 --> 00:46:58,600
Deal.

962
00:46:58,600 --> 00:46:59,880
Yay!

963
00:46:59,880 --> 00:47:01,320
ROBERT: Yeah!

964
00:47:01,320 --> 00:47:04,240
Well done. You did a great job.
We're gonna blow this up.

965
00:47:04,240 --> 00:47:06,040
Thank you so much.
We're gonna blow this up.

966
00:47:06,040 --> 00:47:07,760
Terrific.

967
00:47:07,760 --> 00:47:09,240
It's happening!
It is.

968
00:47:09,240 --> 00:47:11,040
We're gonna go out,
blow this thing up.

969
00:47:11,040 --> 00:47:12,640
That was awesome.

970
00:47:12,640 --> 00:47:14,280
See you guys! 'Bye!

971
00:47:14,280 --> 00:47:15,760
SARAH: He's done it.

972
00:47:15,760 --> 00:47:18,240
After a heated pitch in the Tank,

973
00:47:18,240 --> 00:47:21,040
king of grooming Amadou
has partnered up

974
00:47:21,040 --> 00:47:22,520
with his dream Shark,

975
00:47:22,520 --> 00:47:24,280
the King Kong of marketing,

976
00:47:24,280 --> 00:47:25,760
Sabri Suby.

977
00:47:25,760 --> 00:47:27,880
I feel super excited.

978
00:47:27,880 --> 00:47:30,600
The bald man with the hair product
is now my business partner.

979
00:47:30,600 --> 00:47:32,520
(CHUCKLES)