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VOICEOVER: So far this season,

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our sharks have invested
well over $4 million.

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Tonight...

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My heart is racing right now.

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..in the final episode...

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I just want my girls
to be really proud.

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The products we sell
can have a life-changing effect.

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Oh, wow.
That's impressive.

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Yes, it is.
Work it.

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I'm glittery.

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..the sharks still have plenty
of cash left in the tank.

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I'll throw in more money.

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I've generated my clients
over $7.8 billion.

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But which entrepreneur
is worth the risk?

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The nerves are really
starting to kick in?

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Why has nobody ever thought of this?
Do you know who this shark is?

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I'm a friendly shark.

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Breathe. Just breathe.

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And who will reel in this
season's final killer deal?

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So, sharks, are you ready to sniff
out a savvy marketing opportunity?

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You've got to be a category killer.

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I am very determined.

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There isn't anything
on the market like it.

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I do want to make you an offer.

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Whoa-ho!

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Victory! (LAUGHS)

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First up to face the sharks is

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scientist-turned-mum-turned-
entrepreneur Stephanie Bream

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from Perth, in WA.

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I am feeling really, really nervous.

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Being a mum, starting a business,
it's been a lot of hard work,

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but I'm confident that the sharks
are gonna love my product.

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Hello, sharks.

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My name is Stephanie,

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and I'm the founder
of SunDust Glitter Sunscreen.

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We make a sunscreen that sparkles.

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It goes on like regular sunscreen,

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but leaves tiny traces of
zero-plastic bio glitter

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on the skin.

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And when the glitter wears off,
you know that it's time to reapply.

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(ALL EXCLAIM)

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MAN: Smart.
That's clever.

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Good idea.

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I'm seeking investment of $100,000
for 20% share of my company.

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And we plan on using the funds

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to broaden our
business-to-business sales

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and increase our marketing
exposure online.

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Would you like to try a sample?
ALL: Yes, please.

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Thank you very much.

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Thank you.

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Thanks, Stephanie.

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So, the gold is
a gold shimmer sunscreen.

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And in the white tube
is a zinc sunscreen for kids.

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Ooh, I'm glittering.

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Are they the same SPF?

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Yes, they're all SPF50.

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But is it safe for people?
Yes.

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So, it's a plant-based bio glitter,
which is unlike other glitters

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that are used in cosmetics,
which are a PVC-based glitter.

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So, it's 100% safe for cosmetic use.

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Oh, wow.

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And how did you find it
and come up with it?

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Why are you the glitter lady?

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(LAUGHS)

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So, one Christmas, I was staying
down by the beach with my family,

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and my children refused to
put on their sunscreen.

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And in that moment,
I had a fantastic idea.

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Ran into the house,
grabbed some craft glitter,

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and I mixed it with sunscreen.

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And instantly they loved
putting on their sunscreen.

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They loved seeing the sparkles.

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And it made reapplication
really easy.

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No more fights.

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It's such a great idea
because my approach...

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Such a great idea.

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..of putting on sunscreen, the kids,

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is to get a spray and then go,

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"Three, two, one, close your eyes,
you're gonna get sprayed,"

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and just, like, going for it.

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As a scientist, I thought
craft glitter is terrible

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for the environment and there
has to be a better way.

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So, two years in product
development and testing

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and we launched
SunDust Sunscreen in 2021.

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You're a scientist?

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Yes, I'm a geologist by background.

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Wow.

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Is the sunscreen formula something
special that you have made?

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So, the glitter is made out of
a plant cellulose,

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and my manufacturer puts it into
my formula

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that has no nasty chemicals in it.

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It's reef-safe and marine friendly.

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Why has nobody ever thought of this?

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Well, the technology with
the plant-based glitter

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is pretty new to market.

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I gotta tell you,
I've done the show in Canada,

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I've done the show in the US,
I think, in my humble opinion,

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Australians are the most
entrepreneurial people in the world.

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Thank you.

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00:04:58,040 --> 00:05:01,000
So, could you please run us through
what the sales are today?

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We have sold 5,000 units
of the bio glitter sunscreen.

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We've actually sold
out of that line.

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Wow.

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What does that look like
in terms of gross sales?

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So, that's $112,000 worth of sales.

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With $45,000 net profit.

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Well done.

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So, how have the sales
been tracking, let's say,

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past six months compared to
the previous six months?

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We have a really big summer
and then we have a downturn.

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So, what that means is that I'm now
looking at expanding my company

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into the Northern Hemisphere,

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and I'm already registered
in the UK and the US.

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We actually sell a lot of
summer products in the UK

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as well, to offset, so that's
a really, really good plan.

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Yeah.

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Tell me, when your distributor
goes to a retailer,

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and the retailer
doesn't pick it up, why?

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Not everybody is a fan of glitter.

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What?!
Not everybody.

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Who are these people?
Exactly!

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(LAUGHS)

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But as soon as people use the tester
and it's quite a subtle glitter,

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that's when the customer is excited.

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I think this is such
a fantastic product,

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because there's been a lot
of innovation in sun care

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but not in kids'.

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So this is really exciting.

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But there isn't anything
on the market like it, right?

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Is that is that true, though?
Yeah, can we just confirm that?

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Is there nothing else on the market?

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So, there is a product in
the UK called Unicorn Snot...

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(ALL EXCLAIM)
..which uses...

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Great.
That's so cute.

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(LAUGHS)

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..which uses a bio glitter,
but it's a PVC bio glitter.

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And I think that's my unique selling
point, is that this is a glitter

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that's 100% environmentally safe,
which is really important.

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And what's your vision for SunDust?

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I really want to be encouraging
children and young adults

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to be wearing sunscreen because
skin cancer is such an issue,

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especially here in Australia.

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Sometimes I see products
and I'm like,

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"Why didn't I think of this?
This is brilliant."

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And then your sales are OK,
nothing wrong with them,

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but I'm thinking,
"Why isn't it flying off the shelf?"

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The reason why is because
as a small business,

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I underestimated the amount of
marketing I would have to do online

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to reach my customer.

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So let's chat about that.

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It's very hard to understand
what the product does.

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Like, it doesn't actually say,
"When you lose the glitter,

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"it's time to reapply," which
I think made us all react

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when you pitched it.

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I can't see that anywhere here.

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It's an indicator, but I haven't
done any scientific studies

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because of how the sunscreen formula
wears off on the skin,

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the glitter comes off, if anything,

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at a faster rate than
the actual sunscreen.

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Mm-hm.
OK.

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But that's very easily communicated
in digital marketing.

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Have you tried digital marketing,
and how has that gone?

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I am teaching myself Google Ads,
Instagram...

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Great.
..and Facebook.

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I'm doing it all on my own.
I am the only employee of SunDust.

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(LAUGHS) Love it.
What are the other products?

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So, this is an organic shimmer oil.

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We make eco-friendly towels made
out of recycled ocean plastics.

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Whoa. I thought we were in
the suntan lotion business.

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Um...yes.

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Why expand the product line?

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Because I wanted to increase
the average sale

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through my e-commerce site.

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How many of the suntan products

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get attached to a towel
or another product?

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Generally, every sale
has an up-sell.

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Interesting.

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So, I love the product.
I think it's genius.

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But I would have expected
someone like yourself,

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00:08:50,280 --> 00:08:52,720
you're obviously very, very
competent, and it's a great product,

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to just have more sales by now.

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So, for that reason, I'm out.

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Yeah.

183
00:08:58,680 --> 00:09:02,080
Stephanie, the thing that's
going to make you successful

184
00:09:02,080 --> 00:09:07,160
is leaning into one corner
of the market and the niche,

185
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and just amplifying
the sales on that.

186
00:09:09,160 --> 00:09:10,160
Yep.

187
00:09:10,160 --> 00:09:15,600
But I just don't see one hero product
in terms of YOUR focus

188
00:09:15,600 --> 00:09:18,200
and where you see yourself
growing this business.

189
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So, for those reasons, I'm out.

190
00:09:21,400 --> 00:09:22,560
Yeah.

191
00:09:22,560 --> 00:09:26,480
Stephanie, I love that you have
an environmental orientation,

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and also we do need to do a lot
to combat skin cancer in Australia.

193
00:09:32,920 --> 00:09:34,680
But I agree with some of
the other sharks

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that I think just knuckle down

195
00:09:36,840 --> 00:09:41,080
possibly into the children's
glitter sunscreen area.

196
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I'm out.

197
00:09:44,360 --> 00:09:45,720
Thank you.

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VOICEOVER: With three of the five
sharks already out of the running...

199
00:09:49,720 --> 00:09:51,200
Gotta make a decision.

200
00:09:51,200 --> 00:09:55,040
..will Jane Lu or Robert Herjavec
see the sparkle

201
00:09:55,040 --> 00:09:56,840
in Stephanie's business?

202
00:09:59,000 --> 00:10:03,160
Oh, Steph, I think I'm just, like,
back and forth on this a bit.

203
00:10:03,160 --> 00:10:05,920
I am very determined to be the best.

204
00:10:05,920 --> 00:10:08,960
I was very successful
in my previous career,

205
00:10:08,960 --> 00:10:11,960
so I am confident that I can
take this to the next level.

206
00:10:11,960 --> 00:10:15,040
And I just would really love a shark
to come on that journey with me.

207
00:10:15,040 --> 00:10:16,840
It's tough.

208
00:10:16,840 --> 00:10:18,760
If it's the fashion industry,
I'm like,

209
00:10:18,760 --> 00:10:20,400
"That's fine, I know
exactly what to do."

210
00:10:21,960 --> 00:10:23,640
I'm so sorry, I'm just...

211
00:10:23,640 --> 00:10:26,160
..I don't think I'll be able
to get there today.

212
00:10:26,160 --> 00:10:27,880
I'm out.

213
00:10:27,880 --> 00:10:29,880
And then there was one.

214
00:10:29,880 --> 00:10:31,240
Then there was one.

215
00:10:31,240 --> 00:10:32,480
Yeah.

216
00:10:35,160 --> 00:10:38,320
Stephanie, you came out,
level of excitement,

217
00:10:38,320 --> 00:10:40,640
saw the product, super high,

218
00:10:40,640 --> 00:10:44,200
heard about the product extensions,
went way down.

219
00:10:45,560 --> 00:10:46,920
Oh.

220
00:10:48,240 --> 00:10:50,760
Alright, look, I'm going to
make you an offer.

221
00:10:50,760 --> 00:10:53,040
Yes!
Thanks, Robert. (LAUGHS)

222
00:10:53,040 --> 00:10:56,800
But it's going to be an offer
you may not like.

223
00:10:58,760 --> 00:11:03,000
The difference, though, is
I can't do this one on my own.

224
00:11:03,000 --> 00:11:05,560
I have a company in mind,

225
00:11:05,560 --> 00:11:08,880
and we can have them
launch it in the US.

226
00:11:09,920 --> 00:11:12,720
So I'll give you $100,000...

227
00:11:14,080 --> 00:11:17,200
..I only want
the North American market...

228
00:11:18,320 --> 00:11:20,800
..but I want 75%.

229
00:11:20,800 --> 00:11:22,480
(WHISTLES)

230
00:11:23,680 --> 00:11:26,840
Wow.
Of the US market.

231
00:11:26,840 --> 00:11:30,280
Because I gotta make enough room
for somebody else to come in.

232
00:11:30,280 --> 00:11:32,320
That is a sharkie offer.

233
00:11:32,320 --> 00:11:34,560
Well, here's the benefit
of the offer.

234
00:11:34,560 --> 00:11:37,840
You get 25% of anything
they sell in that market.

235
00:11:37,840 --> 00:11:40,320
How does that work, then,
with the Australian market?

236
00:11:40,320 --> 00:11:41,560
You keep going.
Yep.

237
00:11:41,560 --> 00:11:44,640
Like, you keep going,
I don't need to own equity.

238
00:11:44,640 --> 00:11:47,480
I'm really doing a distribution
deal with you.

239
00:11:47,480 --> 00:11:49,520
Yeah.
My market...

240
00:11:49,520 --> 00:11:50,680
My market?

241
00:11:50,680 --> 00:11:53,520
Our market in the US
is independent of the...

242
00:11:53,520 --> 00:11:55,880
He's just taking over
your business now!

243
00:11:55,880 --> 00:11:57,440
Stephanie...

244
00:11:59,280 --> 00:12:01,680
Is it worth saving you that time?

245
00:12:03,360 --> 00:12:05,320
Yes.
Do you have a deal?

246
00:12:08,480 --> 00:12:10,160
I think we have a deal.
(CHEERING)

247
00:12:10,160 --> 00:12:11,400
Alright!

248
00:12:13,160 --> 00:12:14,160
Great work.

249
00:12:14,160 --> 00:12:16,000
Thank you. Amazing.
Thank you.

250
00:12:16,000 --> 00:12:18,080
Well done, Stephanie.
Thank you.

251
00:12:18,080 --> 00:12:20,040
Good job.
Thanks, Stephanie.

252
00:12:20,040 --> 00:12:21,480
See ya, Stephanie.

253
00:12:22,640 --> 00:12:25,560
It was fantastic.
It was incredibly nerve-racking.

254
00:12:28,160 --> 00:12:30,280
Sorry, I'm feeing all tearful.

255
00:12:31,520 --> 00:12:34,280
I just want my girls to be
really proud of something

256
00:12:34,280 --> 00:12:35,840
that their mum is doing.

257
00:12:35,840 --> 00:12:39,160
And being able to run my own
business means that I get to spend

258
00:12:39,160 --> 00:12:41,680
quality family time watching
my children grow up.

259
00:12:53,920 --> 00:12:59,000
Daniel Reid and Luke Kyriazis
aren't just snappy dressers.

260
00:12:59,000 --> 00:13:02,920
They aim to help individuals
smarten up their act.

261
00:13:02,920 --> 00:13:05,560
Throughout the last 5 or 6 years
we've been in business together,

262
00:13:05,560 --> 00:13:08,280
we've been through ups and downs
and we've learnt a lot.

263
00:13:08,280 --> 00:13:11,800
I'm quite confident we'll get
a couple of offers today.

264
00:13:11,800 --> 00:13:14,640
And we're looking to take our brand
all over Australia

265
00:13:14,640 --> 00:13:16,080
and hopefully the world one day.

266
00:13:16,080 --> 00:13:18,040
Ready?
Yep.

267
00:13:18,040 --> 00:13:19,400
Oh!
Wow.

268
00:13:20,440 --> 00:13:21,840
Wow.

269
00:13:25,320 --> 00:13:27,480
Ho, ho, ho!
Love it.

270
00:13:27,480 --> 00:13:29,280
Here we go.
Work it!

271
00:13:34,400 --> 00:13:36,160
Yeah.

272
00:13:36,160 --> 00:13:37,720
Hello, sharks.

273
00:13:37,720 --> 00:13:41,080
I'm Luke, co-founder of Suitor, and
this is my business partner, Daniel.

274
00:13:41,080 --> 00:13:42,640
G'day, sharks.

275
00:13:42,640 --> 00:13:45,600
And today we're here to give
you the chance to invest

276
00:13:45,600 --> 00:13:48,240
in Australia's first and only
online suit hire company.

277
00:13:48,240 --> 00:13:52,520
We're looking for $250,000
in exchange for 10% equity

278
00:13:52,520 --> 00:13:53,760
in our business.

279
00:13:53,760 --> 00:13:56,480
Our own story began based
on our own struggles to find suits

280
00:13:56,480 --> 00:13:57,840
for our Year 12 formal.

281
00:13:57,840 --> 00:14:00,200
We found the process frustrating,
expensive,

282
00:14:00,200 --> 00:14:02,160
and the final product
was underwhelming.

283
00:14:02,160 --> 00:14:04,040
That's when we decided to create
a better alternative

284
00:14:04,040 --> 00:14:05,040
for Aussie blokes.

285
00:14:05,040 --> 00:14:06,280
And we've done it.

286
00:14:06,280 --> 00:14:09,560
You can skip the in-store hassle
and customise your own perfect look

287
00:14:09,560 --> 00:14:11,480
from the convenience
of your own home.

288
00:14:11,480 --> 00:14:14,840
Last year in 2022, we did
over $1 million in sales

289
00:14:14,840 --> 00:14:17,440
at a growth rate of 300%.
Wow.

290
00:14:17,440 --> 00:14:19,680
So sharks, who's ready to be the
sharpest looking investor

291
00:14:19,680 --> 00:14:22,040
in the tank and be a suitor
of our business?

292
00:14:22,040 --> 00:14:24,120
Oh, amazing.

293
00:14:24,120 --> 00:14:25,760
Great pitch, guys.

294
00:14:25,760 --> 00:14:30,000
So you said you're the only
online suit rental company.

295
00:14:30,000 --> 00:14:33,640
The only online suit hire place in
Australia. There's no other ones.

296
00:14:33,640 --> 00:14:36,240
There's a couple that's
tried but has not succeeded.

297
00:14:36,240 --> 00:14:38,440
Terrific. So I come to your website.

298
00:14:38,440 --> 00:14:41,000
Do I just put in my dimensions
on there?

299
00:14:41,000 --> 00:14:43,120
How does it work in terms
of sizing and getting the suit?

300
00:14:43,120 --> 00:14:45,320
We've managed to make it
really simple for customers.

301
00:14:45,320 --> 00:14:47,680
All customers need to do
is enter their height, weight

302
00:14:47,680 --> 00:14:51,040
and waist size, and we can
determine sizes for them.

303
00:14:51,040 --> 00:14:55,240
Daniel and Luke, I'm Cat
and the mother of four sons.

304
00:14:55,240 --> 00:14:56,240
Ooh!

305
00:14:56,240 --> 00:15:00,360
So I know for the mothers
of the world, this is a problem

306
00:15:00,360 --> 00:15:01,880
that needs solving.

307
00:15:01,880 --> 00:15:03,840
Yeah, people love these suits.

308
00:15:03,840 --> 00:15:09,160
Could you think about using AI
so that people could actually see

309
00:15:09,160 --> 00:15:13,760
the suit on them and mix
and match different styles

310
00:15:13,760 --> 00:15:15,120
or different pieces?

311
00:15:15,120 --> 00:15:17,120
People love to see what the suit
would look like on them,

312
00:15:17,120 --> 00:15:22,560
but we don't have any AI
or vision AI at the moment.

313
00:15:22,560 --> 00:15:25,240
ROBERT: So walk me through it.
Yep.

314
00:15:25,240 --> 00:15:26,960
Jane invited me to her house.

315
00:15:26,960 --> 00:15:28,280
She's making dinner.
We're very fancy.

316
00:15:28,280 --> 00:15:29,360
I'm so excited.

317
00:15:29,360 --> 00:15:30,600
What's the dress code?

318
00:15:30,600 --> 00:15:32,680
Oh, it's black tie.
Black tie.

319
00:15:32,680 --> 00:15:35,760
So I pick one. I put it on.
Yeah.

320
00:15:35,760 --> 00:15:36,760
Go to Jane's house.

321
00:15:36,760 --> 00:15:40,000
The food was OK.
The company was great.

322
00:15:40,000 --> 00:15:42,360
What do I do with it then?

323
00:15:42,360 --> 00:15:43,560
We give you a return shipping label.

324
00:15:43,560 --> 00:15:45,000
So you put that on top of the box

325
00:15:45,000 --> 00:15:47,440
and you just take it to the
post office and it'll come
right back to us.

326
00:15:47,440 --> 00:15:50,040
Very smart. That's really smart.

327
00:15:50,040 --> 00:15:52,600
What's your role in the business
between the two of you?

328
00:15:52,600 --> 00:15:54,640
I'm the CEO, so I do all
the business development

329
00:15:54,640 --> 00:15:55,640
and the finances.

330
00:15:55,640 --> 00:15:59,000
I'd do the operations,
so organising the suits,

331
00:15:59,000 --> 00:16:02,000
making sure they're in good quality,
the dry cleaning processes,
all of that.

332
00:16:02,000 --> 00:16:03,960
And you're such a great fit
together.

333
00:16:03,960 --> 00:16:04,960
Yeah, exactly.

334
00:16:04,960 --> 00:16:07,600
And we've been best friends
for 14 years now.

335
00:16:07,600 --> 00:16:10,400
I've always sort of been
entrepreneurial, so I always wanted

336
00:16:10,400 --> 00:16:11,920
to start my own business
when I was very young.

337
00:16:11,920 --> 00:16:14,240
And then Luke had the storage space.
So...

338
00:16:14,240 --> 00:16:17,200
He came up with the idea and I had a
granny flat that was empty.

339
00:16:17,200 --> 00:16:19,320
So he thought...bring me in.

340
00:16:19,320 --> 00:16:21,520
And yeah, we made a good team
from that point.

341
00:16:21,520 --> 00:16:23,640
I'm sure you're more than
just a granny flat to him.

342
00:16:23,640 --> 00:16:25,280
Ohh, thank you.

343
00:16:25,280 --> 00:16:27,040
How old are you guys?
25.

344
00:16:27,040 --> 00:16:29,120
Wow.
You're only 25!?
Incredible.

345
00:16:29,120 --> 00:16:32,400
Oh, you make Davie look old.
Well done.

346
00:16:32,400 --> 00:16:35,320
Hey, Daniel and Luke, can you go
through the past three years

347
00:16:35,320 --> 00:16:37,440
of sales, revenue, profit,

348
00:16:37,440 --> 00:16:39,560
and also what you're forecasting
for this year?

349
00:16:39,560 --> 00:16:45,320
Yeah, sure. So in 2020, we did
$100,000 in sales during COVID.
Wow.

350
00:16:45,320 --> 00:16:47,560
Last year we did 1.06 million.

351
00:16:47,560 --> 00:16:48,920
Well done.

352
00:16:48,920 --> 00:16:51,960
This year we're forecasting
1.7 million in sales

353
00:16:51,960 --> 00:16:54,520
and a gross profit
of about $480,000.

354
00:16:54,520 --> 00:16:56,080
Wow.
Great.

355
00:16:56,080 --> 00:16:57,720
Love that you know your numbers
so well.

356
00:16:57,720 --> 00:17:00,880
I've got a Masters of Commerce.
So I should know business.

357
00:17:02,640 --> 00:17:04,320
Incredible business.
Thank you very much.

358
00:17:04,320 --> 00:17:07,760
You're going to make 480,000
in profit.

359
00:17:07,760 --> 00:17:09,960
I have nothing to fault you for.

360
00:17:09,960 --> 00:17:14,520
It's just not a business
that gets me excited.

361
00:17:14,520 --> 00:17:18,800
And I think you're going to get some
interest up here, I predict.

362
00:17:18,800 --> 00:17:19,800
But for now, I'm out.

363
00:17:19,800 --> 00:17:22,640
Thank you.
Thank you.

364
00:17:22,640 --> 00:17:27,800
So, I'm extremely impressed
with you both.

365
00:17:27,800 --> 00:17:31,160
But when you're at a stage
where you've automated

366
00:17:31,160 --> 00:17:35,400
the whole business using AI, then
you know, I'm your gal.

367
00:17:35,400 --> 00:17:38,120
At this stage, I'm out.
Thank you.

368
00:17:39,880 --> 00:17:42,560
Well, look, I think you guys
are phenomenal.

369
00:17:42,560 --> 00:17:44,760
You really dialled in
on the numbers.

370
00:17:44,760 --> 00:17:47,000
How big do you think you guys
can grow this business?

371
00:17:47,000 --> 00:17:50,520
So in Australia, the tuxedo
rental market is between 100
and $150 million.

372
00:17:50,520 --> 00:17:54,600
The suiting industry
is worth $1 billion.

373
00:17:54,600 --> 00:17:56,440
Cool. So look, I will take a flyer,

374
00:17:56,440 --> 00:17:58,200
but I'm not going to make it easy for
you.

375
00:17:58,200 --> 00:17:59,200
Sure.

376
00:18:01,480 --> 00:18:05,960
I am willing to offer you
half of the money,

377
00:18:05,960 --> 00:18:08,360
so you'll have to convince
another shark for the other half.

378
00:18:08,360 --> 00:18:10,760
And I would want 7.5%
of the business.

379
00:18:10,760 --> 00:18:13,200
OK. Thank you.
Thank you for that offer. Thank you.

380
00:18:18,680 --> 00:18:21,040
I think you guys are going
to be absolutely amazing.

381
00:18:21,040 --> 00:18:22,600
You're going to annihilate
the competitors.

382
00:18:22,600 --> 00:18:25,520
They're just prehistoric people
sitting in their retail store.

383
00:18:25,520 --> 00:18:27,000
Well, that's the thing about
the field is

384
00:18:27,000 --> 00:18:29,720
there's been no disruption
in this industry for 100 years.

385
00:18:29,720 --> 00:18:32,000
I'm happy to go in
on Sabri's offer.

386
00:18:33,080 --> 00:18:35,560
I think the valuation that Sabri
has offered,

387
00:18:35,560 --> 00:18:38,880
considering the amount of work that
we have to do as well coming in,

388
00:18:38,880 --> 00:18:42,280
but it also leaves enough
for you guys to get a huge payday
at the end of it.

389
00:18:44,520 --> 00:18:47,840
So you're offering $125,000
for 7.5%?

390
00:18:47,840 --> 00:18:48,840
Correct.

391
00:18:48,840 --> 00:18:52,200
So between Sabri and Davie,
you've got your $250,000.

392
00:18:52,200 --> 00:18:53,760
But for 15%.

393
00:18:53,760 --> 00:18:56,960
It's a great offer.
CAT: It's a great deal.

394
00:18:56,960 --> 00:18:58,160
Jane, what are you going to do?

395
00:18:58,160 --> 00:18:59,880
No, that's...I honestly think
that's a great team.

396
00:18:59,880 --> 00:19:01,320
Are you in or are you out?

397
00:19:01,320 --> 00:19:04,000
No, I think you should take
these guys. I'm out.

398
00:19:04,000 --> 00:19:06,720
Thank you guys for your offers.
Can we talk to the wall?

399
00:19:06,720 --> 00:19:08,920
You can.
Don't take too long.

400
00:19:12,320 --> 00:19:13,800
What do you think?

401
00:19:13,800 --> 00:19:15,160
I think you could have got 20%.

402
00:19:15,160 --> 00:19:16,920
I thought you were gonna ask
for more.

403
00:19:16,920 --> 00:19:18,280
It's a profitable business.

404
00:19:18,280 --> 00:19:20,520
But they're negotiating now.
You've got to leave room.

405
00:19:20,520 --> 00:19:22,680
We got marketing.
We got branding.

406
00:19:22,680 --> 00:19:24,800
Alright, guys, great offer
in front of you.

407
00:19:24,800 --> 00:19:28,240
$250,000. Two sharks.

408
00:19:28,240 --> 00:19:29,520
What do you say?

409
00:19:35,600 --> 00:19:37,000
Deal.

410
00:19:38,840 --> 00:19:39,880
Give me a hug.

411
00:19:39,880 --> 00:19:43,680
VOICEOVER: Best friends Luke
and Daniel couldn't be happier

412
00:19:43,680 --> 00:19:47,040
that they've managed to sew up
a life changing deal.

413
00:19:47,040 --> 00:19:49,200
Well done, guys.

414
00:19:49,200 --> 00:19:50,960
It's absolutely incredible.

415
00:19:50,960 --> 00:19:53,720
I don't think it's quite hit us yet.

416
00:19:53,720 --> 00:19:56,560
Yeah, I think we've really made the
dream team here and we can't wait

417
00:19:56,560 --> 00:19:57,800
to work with these guys.

418
00:19:57,800 --> 00:19:59,760
Good stuff.

419
00:19:59,760 --> 00:20:01,160
Yeah!

420
00:20:11,280 --> 00:20:14,680
VOICEOVER: Hoping to change
lives with their product,

421
00:20:14,680 --> 00:20:19,720
Bec Cerio and Erin Spencer
are next up to face the sharks.

422
00:20:19,720 --> 00:20:23,360
We provide affordable
gender-affirming products,

423
00:20:23,360 --> 00:20:27,440
help people express their gender
identities when that doesn't match

424
00:20:27,440 --> 00:20:28,880
what was assigned for them at birth.

425
00:20:31,040 --> 00:20:35,400
When we started this business,
we had no experience,

426
00:20:35,400 --> 00:20:38,960
and it's relying on that lived
experience of our own

427
00:20:38,960 --> 00:20:42,720
and our community to build
the business into what it is today.

428
00:20:42,720 --> 00:20:44,360
Oh, my God.

429
00:20:51,000 --> 00:20:52,840
My name is Bec.

430
00:20:52,840 --> 00:20:54,840
My pronouns are she and they.

431
00:20:54,840 --> 00:20:56,080
My name is Erin.

432
00:20:56,080 --> 00:20:57,480
My pronouns are they/them.

433
00:20:57,480 --> 00:21:01,600
And we are the co-founders
and directors of Sock Drawer Heroes,

434
00:21:01,600 --> 00:21:04,000
Australia's leading gender
expression company

435
00:21:04,000 --> 00:21:06,040
for the trans and gender diverse
community.

436
00:21:06,040 --> 00:21:09,760
We stock over 20 local
and international brands,

437
00:21:09,760 --> 00:21:12,360
many of which are trans
and queer-owned small companies

438
00:21:12,360 --> 00:21:14,960
like ourselves, because
from our experience,

439
00:21:14,960 --> 00:21:17,600
we know that the best
gender-affirming products

440
00:21:17,600 --> 00:21:21,280
are made by our community,
for our community.

441
00:21:21,280 --> 00:21:25,560
In 2017, I transitioned
as non-binary.

442
00:21:25,560 --> 00:21:28,720
I found that there was a significant
lack of products available

443
00:21:28,720 --> 00:21:30,080
in Australia.

444
00:21:30,080 --> 00:21:33,440
Knowing the life changing impact
that these products can have

445
00:21:33,440 --> 00:21:37,200
on the mental health and wellbeing
of our community,

446
00:21:37,200 --> 00:21:39,920
we saw this as a massive problem.

447
00:21:39,920 --> 00:21:43,200
Most of our customers, they're not
just buying something,

448
00:21:43,200 --> 00:21:45,640
but they're connecting
with their community

449
00:21:45,640 --> 00:21:50,560
and taking that first step of really
feeling confident to be who they are

450
00:21:50,560 --> 00:21:51,720
and feeling safe.

451
00:21:51,720 --> 00:21:55,240
After two years of research
and development, we just launched

452
00:21:55,240 --> 00:21:57,360
our very own chest binder range.

453
00:21:57,360 --> 00:21:59,600
A chest binder is a
compression garment

454
00:21:59,600 --> 00:22:01,600
worn to flatten the breast tissue

455
00:22:01,600 --> 00:22:04,280
for a more typically masculine
appearance.

456
00:22:04,280 --> 00:22:08,560
Having an investor would help us
expand our own Sock Drawer Heroes

457
00:22:08,560 --> 00:22:10,400
product range.

458
00:22:10,400 --> 00:22:14,880
It is really important to us
that anyone we work with is an ally

459
00:22:14,880 --> 00:22:17,960
of the trans and
gender diverse community.

460
00:22:17,960 --> 00:22:25,240
We are seeking a $120,000 investment
for a 7.5% stake in our company.

461
00:22:25,240 --> 00:22:27,920
Thank you.
And we welcome your questions.

462
00:22:27,920 --> 00:22:30,400
Thanks, Bec. Thanks, Erin.

463
00:22:30,400 --> 00:22:32,000
What's the valuation?

464
00:22:32,000 --> 00:22:33,960
We're horrible at math.
Quickly doing the maths.

465
00:22:33,960 --> 00:22:37,840
So...
80 is five. 160 is 10.

466
00:22:37,840 --> 00:22:39,440
So $1.6 million.

467
00:22:39,440 --> 00:22:40,560
Was she right?

468
00:22:40,560 --> 00:22:41,600
Yeah.

469
00:22:41,600 --> 00:22:43,360
Yeah?
Of course.

470
00:22:43,360 --> 00:22:44,760
That's impressive.

471
00:22:46,240 --> 00:22:51,480
My name is Cat, and I think
that what you're doing is fantastic.

472
00:22:51,480 --> 00:22:54,080
So, would love to hear
a bit more about

473
00:22:54,080 --> 00:22:56,840
both of your own personal stories
if you're willing to share.

474
00:22:56,840 --> 00:23:03,200
I came out as queer in my late
teens, and at the time

475
00:23:03,200 --> 00:23:05,680
I didn't have language
for anything else.

476
00:23:05,680 --> 00:23:09,640
I always feel...felt
kind of in between genders

477
00:23:09,640 --> 00:23:11,880
in this sort of mixed space.

478
00:23:11,880 --> 00:23:15,640
Looking back, a lot of the things
I went through as a teenager

479
00:23:15,640 --> 00:23:20,160
with my mental health would now
be called gender dysphoria.

480
00:23:22,160 --> 00:23:27,480
So it wasn't until I was 32
and I'd met Bec that I finally felt

481
00:23:27,480 --> 00:23:31,200
comfortable and confident
to start to transition.

482
00:23:31,200 --> 00:23:33,360
Are you partners?
Yes.

483
00:23:33,360 --> 00:23:35,400
Yay!
We've been married for seven years.

484
00:23:35,400 --> 00:23:37,400
Oh, awesome.

485
00:23:37,400 --> 00:23:39,400
So we started as a partnership.

486
00:23:39,400 --> 00:23:43,880
I work full time, so I myself wear
a lot of hats in the business.

487
00:23:43,880 --> 00:23:47,400
And I've actually got a background
working in public health

488
00:23:47,400 --> 00:23:48,840
and LGBTQ health.

489
00:23:48,840 --> 00:23:51,800
So, day to day, that really informs
the work I do

490
00:23:51,800 --> 00:23:53,280
on Sock Drawer Heroes as well.

491
00:23:53,280 --> 00:23:54,560
Great.

492
00:23:54,560 --> 00:23:58,600
So how big is this market?
How big do you think you can
grow this business?

493
00:23:58,600 --> 00:24:01,840
Generally, it's thought
to be between kind of 2 and 3%,

494
00:24:01,840 --> 00:24:04,200
but we know it's actually
much higher.

495
00:24:04,200 --> 00:24:09,160
And it's a growing market,
particularly among younger people.

496
00:24:09,160 --> 00:24:11,200
What's the competition like?

497
00:24:11,200 --> 00:24:14,640
In Australia, there are a couple of
smaller companies,

498
00:24:14,640 --> 00:24:18,320
but we very much hold the market.

499
00:24:20,440 --> 00:24:23,760
We are looking to expand
on our chest binder range.

500
00:24:25,040 --> 00:24:28,160
Chest binders are
hands down our biggest seller.

501
00:24:28,160 --> 00:24:29,800
We've been talking about
the binders,

502
00:24:29,800 --> 00:24:33,440
which is a more trans-masculine
product for a masculine appearance,

503
00:24:33,440 --> 00:24:37,840
but we sell tucking underwear and
trans-feminine lingerie as well.

504
00:24:37,840 --> 00:24:42,800
Can I ask you about what your sales
have been across the various years?

505
00:24:42,800 --> 00:24:43,800
Yeah.

506
00:24:43,800 --> 00:24:48,360
So, financials from '22,
our revenue was $610,000.
Wow.

507
00:24:48,360 --> 00:24:49,720
Wow.

508
00:24:49,720 --> 00:24:52,120
Our gross was $300,000.

509
00:24:52,120 --> 00:24:56,920
And our net profit for that year
was $13,200.

510
00:24:56,920 --> 00:24:59,280
(WHISTLES)
Well done.

511
00:24:59,280 --> 00:25:01,920
So tell me about your sales.

512
00:25:01,920 --> 00:25:04,960
Through brands and your own product
with the chest binders.

513
00:25:04,960 --> 00:25:07,240
So using the binders as an example,

514
00:25:07,240 --> 00:25:09,600
we have a short binder
and a long binder.

515
00:25:09,600 --> 00:25:14,880
The short binder landed cost
is $21 and it retails for $66.

516
00:25:14,880 --> 00:25:18,440
So quite a good mark-up on that one.
It's about 214%.

517
00:25:18,440 --> 00:25:21,160
Wow.
Can we have a look at them?

518
00:25:21,160 --> 00:25:24,080
How many SKUs do you have?

519
00:25:24,080 --> 00:25:25,560
It's a good question.
Estimate.

520
00:25:25,560 --> 00:25:27,400
You'd like colour variants
and things?

521
00:25:27,400 --> 00:25:29,160
Yeah.
I'd say about 800.

522
00:25:29,160 --> 00:25:31,400
800?
800!

523
00:25:32,600 --> 00:25:34,440
How much are you spending
on advertising?

524
00:25:34,440 --> 00:25:35,560
Not much at all.

525
00:25:35,560 --> 00:25:39,840
95% of our growth is
just from word of mouth.

526
00:25:41,520 --> 00:25:45,080
So my professional background
is in website development and SEO.

527
00:25:45,080 --> 00:25:46,600
OK.
So...

528
00:25:46,600 --> 00:25:48,000
Have you put that to work
in this business?

529
00:25:48,000 --> 00:25:49,440
Yes.
Definitely.

530
00:25:49,440 --> 00:25:51,360
OK. So you're getting
lots of free traffic.

531
00:25:51,360 --> 00:25:53,120
Building our business.
Yes. Yes.

532
00:25:53,120 --> 00:25:56,680
Guys, I...look, let me...let me
tell you where I'm at.

533
00:25:56,680 --> 00:26:00,040
First of all, and thank
you for sharing your story.

534
00:26:00,040 --> 00:26:04,360
There's no human being that should
feel lesser for any reason.

535
00:26:05,680 --> 00:26:10,120
It almost feels like you're giving
a home to people.

536
00:26:10,120 --> 00:26:12,280
Putting all that aside,

537
00:26:12,280 --> 00:26:17,760
I think my challenge with the
business is I'm not sure

538
00:26:17,760 --> 00:26:20,080
what the business is right now.

539
00:26:20,080 --> 00:26:25,640
What I heard is e-commerce
with a great SEO expert,

540
00:26:25,640 --> 00:26:28,080
great product, physical presence,

541
00:26:28,080 --> 00:26:31,080
and now you're manufacturing
your own product.

542
00:26:32,720 --> 00:26:35,560
Those are three different
skill sets.

543
00:26:37,440 --> 00:26:41,240
For me right now, it's just not an
investment. I'm out.

544
00:26:41,240 --> 00:26:42,840
Thank you.

545
00:26:42,840 --> 00:26:46,200
Erin, Bec.
You've got a great business.

546
00:26:46,200 --> 00:26:48,440
It's really good.

547
00:26:48,440 --> 00:26:51,880
My problem with it is I have another
business that sells

548
00:26:51,880 --> 00:26:52,960
other people's products.

549
00:26:52,960 --> 00:26:56,720
And what's happened over time
is more competitors have started

550
00:26:56,720 --> 00:26:58,880
selling those products and dropping
the prices,

551
00:26:58,880 --> 00:27:01,000
and my margins have been squeezed.

552
00:27:01,000 --> 00:27:03,760
So I'm a little bit personally
scarred from that.

553
00:27:03,760 --> 00:27:05,800
If you came in and you had
a lot more progression

554
00:27:05,800 --> 00:27:08,960
with your own product, it might be
a different story.

555
00:27:08,960 --> 00:27:10,120
But for those reasons, I'm out.

556
00:27:10,120 --> 00:27:12,280
OK. Thank you.

557
00:27:12,280 --> 00:27:13,840
Bec and Erin,

558
00:27:13,840 --> 00:27:16,720
it's clear that you know your stuff
from an SEO standpoint

559
00:27:16,720 --> 00:27:18,720
and you've cornered off
the market.

560
00:27:18,720 --> 00:27:22,160
For me, the growth path
is quite clear.

561
00:27:23,640 --> 00:27:26,960
But you know, the expertise
that you're going to really need

562
00:27:26,960 --> 00:27:30,080
and the guidance is going to be
around developing that product.

563
00:27:30,080 --> 00:27:32,080
And that's just not my wheelhouse.

564
00:27:32,080 --> 00:27:34,040
So for that reason, I'm out.

565
00:27:34,040 --> 00:27:36,240
OK. Thank you.

566
00:27:36,240 --> 00:27:39,600
Erin, Bec. Basically,
a couple of years ago,

567
00:27:39,600 --> 00:27:42,760
someone came into our business and
was like, "You need to sell brands."

568
00:27:42,760 --> 00:27:44,400
And we started selling brands.

569
00:27:44,400 --> 00:27:45,680
It didn't work for us.

570
00:27:45,680 --> 00:27:49,640
And so we're like, OK, it's not
commercial. We're dropping it.

571
00:27:49,640 --> 00:27:54,080
For you guys, there's more purpose
behind that.

572
00:27:54,080 --> 00:27:58,920
I think you guys are so fantastic,
but as an investment, I'm out.

573
00:28:01,520 --> 00:28:04,280
But I'd love to help you where I can.

574
00:28:04,280 --> 00:28:06,960
Thank you.
Thank you. Really appreciate that.

575
00:28:06,960 --> 00:28:08,800
Cat.

576
00:28:08,800 --> 00:28:14,160
Look, I do agree with the other
sharks that it seems that your focus

577
00:28:14,160 --> 00:28:17,880
is a little bit sort of all over
the place with the retail

578
00:28:17,880 --> 00:28:21,320
and online and the
physical store, etc.

579
00:28:22,640 --> 00:28:27,960
I don't know a lot about fashion
and retail and online e-commerce,

580
00:28:27,960 --> 00:28:33,760
so I'm not sure that I am
the most ideal investor for you.

581
00:28:33,760 --> 00:28:35,320
That makes sense.

582
00:28:35,320 --> 00:28:36,320
Yeah.

583
00:28:40,240 --> 00:28:41,560
That being said.

584
00:28:45,440 --> 00:28:47,160
I do want to make you an offer.

585
00:28:51,240 --> 00:28:52,800
Ooh.

586
00:28:52,800 --> 00:28:55,320
But I need Jane to come into
this deal.

587
00:28:58,440 --> 00:28:59,800
Do I want to come in?

588
00:29:16,760 --> 00:29:19,640
VOICEOVER: With retail CEO Jane Lu
already out...

589
00:29:21,920 --> 00:29:25,560
..can Catriona Wallace entice
the fashion expert

590
00:29:25,560 --> 00:29:29,440
back to the bargaining table
with founders Erin and Bec?

591
00:29:29,440 --> 00:29:36,160
They're seeking $120,000 for 7.5%
equity in their business,

592
00:29:36,160 --> 00:29:37,560
Sock Drawer Heroes.

593
00:29:37,560 --> 00:29:43,000
Look, I do agree with the other
sharks that it seems that your focus

594
00:29:43,000 --> 00:29:47,400
is a little bit sort of all over
the place with the retail and online

595
00:29:47,400 --> 00:29:49,760
and the physical store, etc.

596
00:29:51,120 --> 00:29:55,640
I don't know a lot about fashion
and retail and online e-commerce.

597
00:29:58,560 --> 00:30:02,240
That being said, I think
I could help you.

598
00:30:04,280 --> 00:30:09,520
I have been acknowledged as the most
influential woman in business

599
00:30:09,520 --> 00:30:12,880
and entrepreneurship in Australia
for many years.

600
00:30:12,880 --> 00:30:15,000
So I do want to make you an offer.

601
00:30:17,560 --> 00:30:18,760
Ooh.

602
00:30:18,760 --> 00:30:20,320
OK.

603
00:30:20,320 --> 00:30:21,840
My offer...

604
00:30:23,160 --> 00:30:28,880
..is the $120,000
for 20% of the business.

605
00:30:28,880 --> 00:30:31,440
But I need Jane to come
into this deal.

606
00:30:33,960 --> 00:30:36,000
Oh, what can I do? I...

607
00:30:37,640 --> 00:30:38,920
Do I want to come in?

608
00:30:42,720 --> 00:30:44,440
Erin, Bec.

609
00:30:44,440 --> 00:30:49,160
I absolutely love the purpose
of what you're doing.

610
00:30:49,160 --> 00:30:52,120
It's also phenomenal what
you've already built it to.

611
00:30:56,520 --> 00:30:58,000
I'm in.

612
00:30:58,000 --> 00:31:00,200
Alright. Thank you, Janie.

613
00:31:01,960 --> 00:31:03,720
We'll just have a have a huddle.
You can have a huddle.

614
00:31:11,240 --> 00:31:12,280
Do we want that?

615
00:31:22,120 --> 00:31:23,920
Thank you for your offer.

616
00:31:23,920 --> 00:31:28,880
Would you consider 120,000
for 15% between you?

617
00:31:31,000 --> 00:31:32,840
Stay strong.

618
00:31:32,840 --> 00:31:34,120
No.

619
00:31:34,120 --> 00:31:35,840
OK.

620
00:31:39,800 --> 00:31:41,040
16.

621
00:31:44,600 --> 00:31:46,240
Do you know who this shark is?

622
00:31:46,240 --> 00:31:47,760
I know.

623
00:31:49,520 --> 00:31:51,560
What about 18%?

624
00:31:51,560 --> 00:31:53,760
We really didn't want to go
above ten.

625
00:31:53,760 --> 00:31:54,760
Mm.

626
00:31:54,760 --> 00:31:56,520
Good for you.

627
00:31:56,520 --> 00:31:58,320
But having two sharks...
Yeah.

628
00:32:01,400 --> 00:32:04,600
17.5. We're gonna meet halfway.

629
00:32:04,600 --> 00:32:07,480
I prefer an even number, so...

630
00:32:07,480 --> 00:32:08,720
16?

631
00:32:11,880 --> 00:32:19,120
So, two sharks, $120,000
for 16% of the business.

632
00:32:20,120 --> 00:32:21,400
And what do you guys say?

633
00:32:21,400 --> 00:32:22,560
Yes.
We'll accept that.

634
00:32:22,560 --> 00:32:25,080
Let's do it. Let's do it.

635
00:32:25,080 --> 00:32:29,360
VOICEOVER: A great pairing
for Sock Drawer Heroes.

636
00:32:29,360 --> 00:32:33,440
Bec and Erin have secured a deal
with fashion guru Jane Lu

637
00:32:33,440 --> 00:32:36,880
and AI scientist Catriona Wallace.

638
00:32:36,880 --> 00:32:39,120
Yay! OK, cool.
Good bargaining tip.

639
00:32:39,120 --> 00:32:45,680
Parting with 16% of their company
for $120,000.

640
00:32:45,680 --> 00:32:48,040
Yay!
Very shocked.

641
00:32:48,040 --> 00:32:49,760
Happy?
Yeah.

642
00:32:49,760 --> 00:32:54,040
Really happy about having gotten
Catriona and Jane.

643
00:32:54,040 --> 00:32:56,920
We had said before
we did want the women.

644
00:32:59,520 --> 00:33:02,240
Yay! Yay!

645
00:33:04,520 --> 00:33:08,640
Coming up, is it a case of
lucky last?

646
00:33:08,640 --> 00:33:11,360
Or will overwhelming nerves...

647
00:33:11,360 --> 00:33:13,640
We create bespoke scents
through the power of...

648
00:33:14,640 --> 00:33:15,800
Oh, my God.

649
00:33:15,800 --> 00:33:19,880
..shatter the dreams of the final
entrepreneurs in the tank?

650
00:33:19,880 --> 00:33:21,360
We left our...

651
00:33:21,360 --> 00:33:23,160
Sorry. Can I start over again?

652
00:33:23,160 --> 00:33:25,040
Breathe.

653
00:33:25,040 --> 00:33:27,720
Just breathe. Big breath in
and breathe out slowly.

654
00:33:29,880 --> 00:33:33,520
Who will secure
life changing investment?

655
00:33:33,520 --> 00:33:37,360
With full episodes of Shark Tank
Australia on 10 Play.

656
00:33:45,800 --> 00:33:50,880
Last up to face the sharks are
doctors Suji and Jeeva Sanjeevan.

657
00:33:52,160 --> 00:33:56,720
The couple is hoping for investment
in their company Brand Scent.

658
00:33:56,720 --> 00:34:00,040
We're husband and wife and, yeah,

659
00:34:00,040 --> 00:34:02,360
we stepped in from our
medical careers

660
00:34:02,360 --> 00:34:04,640
into this kind of entrepreneurship.

661
00:34:04,640 --> 00:34:06,280
My heart is racing right now.

662
00:34:06,280 --> 00:34:08,360
Yeah, the nerves are really starting
to kick in.

663
00:34:08,360 --> 00:34:11,600
Ooh!
Scent marketing.
Do you know about this, Roberto?

664
00:34:11,600 --> 00:34:12,800
No. What is it?

665
00:34:12,800 --> 00:34:15,720
What they use in casinos,
using certain scents

666
00:34:15,720 --> 00:34:19,480
to get people to spend more money
and elicit emotional reactions.

667
00:34:19,480 --> 00:34:20,680
Interesting.

668
00:34:20,680 --> 00:34:23,120
Here goes.
That's it.

669
00:34:39,720 --> 00:34:42,120
Hi, shark. I'm Jeeva.
And I'm Suji,

670
00:34:42,120 --> 00:34:45,200
and we're the founders
of Brand Scent.

671
00:34:45,200 --> 00:34:48,360
Brand Scent is your go-to
scent marketing agency.

672
00:34:48,360 --> 00:34:51,320
We create bespoke scents
through the power of...

673
00:34:51,320 --> 00:34:53,560
Oh, my God.

674
00:34:53,560 --> 00:34:54,720
Oh, sorry.

675
00:34:59,560 --> 00:35:01,080
So, to take...

676
00:35:01,080 --> 00:35:02,160
Sorry.

677
00:35:03,280 --> 00:35:04,560
Erm...

678
00:35:04,560 --> 00:35:06,360
Oh, my goodness.

679
00:35:07,360 --> 00:35:10,200
Um, so... We left our...

680
00:35:10,200 --> 00:35:12,240
Sorry. Can I start it
from the beginning again?

681
00:35:12,240 --> 00:35:14,040
Sorry. Oh, my God. Alright. OK.

682
00:35:14,040 --> 00:35:15,440
Just...just breathe in.

683
00:35:19,960 --> 00:35:21,640
Sorry. Just got...

684
00:35:21,640 --> 00:35:23,080
Breathe and slow it all down.

685
00:35:23,080 --> 00:35:24,520
Breathe.

686
00:35:24,520 --> 00:35:28,280
Just breathe. Big breath in
and breathe out slowly. Just get...

687
00:35:28,280 --> 00:35:32,040
Just keep going. If you get stuck,
just keep going. It'll come.

688
00:35:33,760 --> 00:35:36,680
OK? Sure.
Do you want to start?

689
00:35:36,680 --> 00:35:38,000
Yeah.

690
00:35:40,480 --> 00:35:43,640
What is the one thing
that brands crave?

691
00:35:43,640 --> 00:35:45,080
They crave a point of difference.

692
00:35:45,080 --> 00:35:48,400
They want to stand out and they want
to create a memorable brand.

693
00:35:48,400 --> 00:35:51,600
And that's exactly what we do
through the power of scent.

694
00:35:54,320 --> 00:35:59,520
So brands come to us and they ask us
to create a bespoke scent.

695
00:35:59,520 --> 00:36:01,680
There's a real psychology
behind scents

696
00:36:01,680 --> 00:36:04,480
and we play on that
behavioural science.

697
00:36:04,480 --> 00:36:08,600
We left behind our medical careers
to enter entrepreneurship,

698
00:36:08,600 --> 00:36:11,880
and we really have a passion
for distilling aroma.

699
00:36:14,160 --> 00:36:18,600
Today, what we are looking
at is a 10% investment for $150,000.

700
00:36:18,600 --> 00:36:22,400
So sharks, are you ready to sniff
out a savvy marketing opportunity?

701
00:36:22,400 --> 00:36:24,200
Oh, you've got samples.
Bring the samples.

702
00:36:24,200 --> 00:36:28,240
Yeah. So we've actually created
five bespoke scents for you guys.
Ooh!

703
00:36:28,240 --> 00:36:30,640
Based on, I guess,
your online identity.

704
00:36:30,640 --> 00:36:31,640
Ooh!

705
00:36:31,640 --> 00:36:33,840
So, Robert, we've got Suave
for you, so...

706
00:36:33,840 --> 00:36:36,200
Oh, yes, you do!

707
00:36:36,200 --> 00:36:38,440
And for Jane, we've got Showpo.

708
00:36:38,440 --> 00:36:39,960
Ohhh!
So we based it on your brand.

709
00:36:39,960 --> 00:36:41,400
You've got a real fire online.

710
00:36:41,400 --> 00:36:44,720
So we've got elemi in there,
we've got musk and amber,

711
00:36:44,720 --> 00:36:46,400
and that's really what we've done
there.

712
00:36:46,400 --> 00:36:49,720
Oh, my gosh. I smell amazing.

713
00:36:49,720 --> 00:36:52,800
So what's my special scent?

714
00:36:52,800 --> 00:36:55,360
So, yours has got bergamot.
It's a real suave scent.

715
00:36:55,360 --> 00:36:57,120
So, a sense of luxury.

716
00:36:57,120 --> 00:36:58,320
Yes, it is.

717
00:36:58,320 --> 00:37:01,720
Davie, what we've done with your
scent is really about

718
00:37:01,720 --> 00:37:04,120
young children, adults
who buy Oodie.

719
00:37:04,120 --> 00:37:07,680
So we've created a salted
caramel popcorn scent.

720
00:37:07,680 --> 00:37:10,080
It smells delicious.
I could almost drink it.

721
00:37:10,080 --> 00:37:13,560
I can't wait to see how you've done
a robot in a bottle.

722
00:37:13,560 --> 00:37:15,080
We named it Imminence

723
00:37:15,080 --> 00:37:18,640
because that world with where robots
and humans kind of amalgamate

724
00:37:18,640 --> 00:37:19,880
is really imminent.

725
00:37:19,880 --> 00:37:21,200
So we named it that.

726
00:37:21,200 --> 00:37:24,920
Jeeva, I love that. Imminence.
I'm going to name my next boat that.

727
00:37:24,920 --> 00:37:26,440
Imminence.

728
00:37:27,880 --> 00:37:31,120
And so with yours, Sabri,
with King Kong Digital,

729
00:37:31,120 --> 00:37:32,240
you're delivering workshops.

730
00:37:32,240 --> 00:37:34,560
You want people to feel
engaged and alert.

731
00:37:34,560 --> 00:37:36,120
We've got lemon and lime.
It smells great.

732
00:37:36,120 --> 00:37:40,000
Those scents that really make people
alert. Hope you like it.

733
00:37:40,000 --> 00:37:41,880
Did you mention that you had
medical careers?

734
00:37:41,880 --> 00:37:44,040
That's right. Yes.
Yes. Yeah.

735
00:37:44,040 --> 00:37:46,680
I'm in allergy and immunology.
Doctor?

736
00:37:46,680 --> 00:37:50,640
Yes, I finished my medical career,
but I stepped into clinical research

737
00:37:50,640 --> 00:37:52,320
and policy and development. Yeah.

738
00:37:52,320 --> 00:37:57,640
Jeeva and Suji, I already actually
use this in my office. Right?

739
00:37:57,640 --> 00:38:00,320
So, I have three of these machines.
Really?

740
00:38:00,320 --> 00:38:02,840
We created a unique scent.

741
00:38:02,840 --> 00:38:05,920
So can you run me through
what your application is?

742
00:38:05,920 --> 00:38:07,200
What are the biggest customers?

743
00:38:07,200 --> 00:38:08,960
And give us a little bit
of insight into the business.

744
00:38:08,960 --> 00:38:14,960
One of the scent partner for us
is one of the world-leading
corporate brand.

745
00:38:14,960 --> 00:38:16,160
Who is that?

746
00:38:16,160 --> 00:38:18,080
It's American Express.
Wow.

747
00:38:18,080 --> 00:38:19,760
American Express.
Wow.

748
00:38:19,760 --> 00:38:22,560
One of our customers we worked with,
an iconic food brand.

749
00:38:22,560 --> 00:38:24,800
So the contract in itself
is $200,000.

750
00:38:24,800 --> 00:38:26,760
Because it wasn't just the scent.

751
00:38:26,760 --> 00:38:29,920
So we manufactured the candles,
the reed diffusers, the perfumes.

752
00:38:29,920 --> 00:38:34,200
But then we work as a add-on
marketing team where we give them

753
00:38:34,200 --> 00:38:36,680
ideas in terms of what can
they do with that scent.

754
00:38:36,680 --> 00:38:38,720
Wow.
That's very impressive.

755
00:38:38,720 --> 00:38:41,400
So, talk to us about your sales.

756
00:38:42,760 --> 00:38:45,920
So the first year when we started,
it was 120,000.

757
00:38:45,920 --> 00:38:47,200
COVID hit, obviously.

758
00:38:47,200 --> 00:38:49,560
So the next year it was 200,000.

759
00:38:49,560 --> 00:38:53,120
This year we are looking
half a million. So, 500,000.

760
00:38:53,120 --> 00:38:57,440
We are looking at at least
1.5 million next year.

761
00:38:57,440 --> 00:39:00,920
So...I own a big
cybersecurity company. Cyderes.

762
00:39:00,920 --> 00:39:03,440
We have a bunch of engineers.
They smell bad.

763
00:39:03,440 --> 00:39:07,040
We want to motivate them,
want our office to smell nice.

764
00:39:07,040 --> 00:39:11,120
I find you, I call you.
Walk me through the process.

765
00:39:11,120 --> 00:39:15,640
So, as you can see, we've got these
little samples that we send out

766
00:39:15,640 --> 00:39:18,120
to the clients so they get an idea
of what is a floral scent,

767
00:39:18,120 --> 00:39:20,960
what do we classify
as an earthy scent?

768
00:39:20,960 --> 00:39:22,840
And to give them a real...
paint a picture.

769
00:39:22,840 --> 00:39:23,840
What do you charge me?

770
00:39:23,840 --> 00:39:27,640
So if someone come to us
and saying that I have no idea...

771
00:39:27,640 --> 00:39:28,640
I have no idea.

772
00:39:28,640 --> 00:39:31,800
If that's the case, we'll be
charging $4,000 plus GST.

773
00:39:31,800 --> 00:39:33,960
But that is just the beginning.

774
00:39:33,960 --> 00:39:35,080
It will be like a subscription,

775
00:39:35,080 --> 00:39:37,480
so they will be paying
around $250 a month.

776
00:39:37,480 --> 00:39:39,720
And then how long do
I have to sign up?

777
00:39:39,720 --> 00:39:41,160
Three year contracts.

778
00:39:41,160 --> 00:39:44,080
Wow!
So we stipulate that you stay
with us for three years

779
00:39:44,080 --> 00:39:46,200
and after three years,
if you do want to move away

780
00:39:46,200 --> 00:39:49,560
and you want to move elsewhere,
then you'd have to buy out the IP.

781
00:39:49,560 --> 00:39:50,680
Wow.

782
00:39:50,680 --> 00:39:53,160
You guys aren't the only player
that is doing this, right?

783
00:39:53,160 --> 00:39:57,080
So how are you different from the
other alternatives that exist?

784
00:39:57,080 --> 00:40:00,560
There's a real behavioural science
and psychology to what we do.

785
00:40:00,560 --> 00:40:02,640
We can explain that behavioural
science,

786
00:40:02,640 --> 00:40:06,200
we can explain the psychology,
whereas not every company

787
00:40:06,200 --> 00:40:08,560
can do what we can do because
we have that science backing.

788
00:40:10,440 --> 00:40:12,000
So let's talk scents.

789
00:40:12,000 --> 00:40:16,080
If you look at how the scents
being processed in your brain,

790
00:40:16,080 --> 00:40:20,600
that's where your memory centre
and where your emotions centre is.

791
00:40:20,600 --> 00:40:24,600
So what we are trying to do
is we create a scent for a brand

792
00:40:24,600 --> 00:40:28,760
and we are connecting their
customers through the memory

793
00:40:28,760 --> 00:40:29,760
and the emotion.

794
00:40:29,760 --> 00:40:31,400
What's your margin?

795
00:40:31,400 --> 00:40:35,960
We work on up to 65% gross profit.

796
00:40:35,960 --> 00:40:37,640
That's incredible.

797
00:40:37,640 --> 00:40:41,320
So I don't know anything
about this space really.

798
00:40:41,320 --> 00:40:45,880
So as an investment today, I'm out.

799
00:40:45,880 --> 00:40:48,200
But as a business
I think it's fantastic.

800
00:40:48,200 --> 00:40:49,560
Thanks, Jane.

801
00:40:49,560 --> 00:40:53,920
Jeeva and Suji, I love the fact
that you've come from
a medical background.

802
00:40:53,920 --> 00:40:57,880
Unfortunately for me,
until it's embedded in a haptic suit,

803
00:40:57,880 --> 00:41:00,760
this investment is not for me.

804
00:41:00,760 --> 00:41:02,040
I'm out.

805
00:41:03,400 --> 00:41:04,960
Thank you.

806
00:41:04,960 --> 00:41:06,760
What are you looking for in a shark?

807
00:41:06,760 --> 00:41:10,520
So at the moment, we outsource
in terms of we hire a lab space,

808
00:41:10,520 --> 00:41:12,160
so we're paying to have it offsite.

809
00:41:12,160 --> 00:41:15,520
But we need the investment to build
a lab within our factory.

810
00:41:15,520 --> 00:41:17,680
You actually make the perfume?

811
00:41:17,680 --> 00:41:18,680
Yes. Yeah.

812
00:41:18,680 --> 00:41:21,280
You couldn't just contract that?

813
00:41:21,280 --> 00:41:23,280
We do at the moment.
We have a perfumist there.

814
00:41:23,280 --> 00:41:25,960
But we do believe that if
we can bring it in-house,

815
00:41:25,960 --> 00:41:27,640
we increase efficiency.

816
00:41:27,640 --> 00:41:30,000
And if we can buy raw materials,
we can bring costs down

817
00:41:30,000 --> 00:41:33,160
and we can turn it around
a lot quicker.

818
00:41:33,160 --> 00:41:37,120
Look, the more notes I write, the
less I want to jump into the deal

819
00:41:37,120 --> 00:41:39,160
because it just feels
so complicated.

820
00:41:39,160 --> 00:41:42,200
But I look at you two
and you are incredible.

821
00:41:44,040 --> 00:41:46,720
So I am going to make you an offer.

822
00:41:48,120 --> 00:41:51,360
I'll give you $150,000,

823
00:41:51,360 --> 00:41:53,560
but I want 25% of the business.

824
00:41:57,360 --> 00:42:01,240
It's funny.
I had the exact same feeling.

825
00:42:01,240 --> 00:42:03,760
The more notes I write,
the less interested I am.

826
00:42:03,760 --> 00:42:05,760
Because there's competitors.

827
00:42:05,760 --> 00:42:07,160
I've never heard of the space.

828
00:42:07,160 --> 00:42:09,640
In fact, I had a really good pun
written

829
00:42:09,640 --> 00:42:11,360
for when I was going to go out,

830
00:42:11,360 --> 00:42:12,560
which is...

831
00:42:12,560 --> 00:42:14,720
..this deal doesn't smell
good to me.

832
00:42:18,160 --> 00:42:22,040
But I think Davie is right.

833
00:42:22,040 --> 00:42:24,360
You guys are just so solid.

834
00:42:24,360 --> 00:42:27,840
It's such a great space
and you're so credible.

835
00:42:38,800 --> 00:42:42,920
I'll offer you the 150,000
for 25% also.

836
00:42:42,920 --> 00:42:45,440
Wow.
Thank you.

837
00:42:45,440 --> 00:42:49,840
VOICOVER: With Robert Herjavec and
Davie Fogarty seeing huge potential

838
00:42:49,840 --> 00:42:55,120
in Brand Scent, will Sabri Suby
scent success in the business too?

839
00:42:55,120 --> 00:42:56,440
I know this space.

840
00:42:56,440 --> 00:42:59,640
I'm a customer in this space.

841
00:42:59,640 --> 00:43:03,120
I believe in the future
of this business

842
00:43:03,120 --> 00:43:04,560
and of this category.

843
00:43:05,880 --> 00:43:09,480
I think that you really need to
become the category king in this

844
00:43:09,480 --> 00:43:13,320
and really just crush everybody
out of the space.

845
00:43:13,320 --> 00:43:17,040
And the way that you do that
is just by smothering the market

846
00:43:17,040 --> 00:43:18,840
with marketing.
Yep.

847
00:43:18,840 --> 00:43:22,120
I've got hundreds of clients
that I would obviously...

848
00:43:22,120 --> 00:43:24,600
..natural brand extension with this.

849
00:43:28,560 --> 00:43:31,360
I, too, will offer you 150,000.

850
00:43:33,120 --> 00:43:34,240
For 25%.

851
00:43:35,240 --> 00:43:36,240
Thank you.

852
00:43:38,160 --> 00:43:40,720
So as you can see,
they just copied me.

853
00:43:44,080 --> 00:43:45,520
What are you going to do?

854
00:44:01,040 --> 00:44:05,080
So I'll give you the $150,000,
but I want 25%.

855
00:44:05,080 --> 00:44:09,320
I'll offer you the 150,000
for 25% also.

856
00:44:09,320 --> 00:44:13,960
I too will offer you 150,000
for 25%.

857
00:44:15,000 --> 00:44:18,120
Wow. You've got three offers.
Three great offers.

858
00:44:19,760 --> 00:44:22,840
VOICEOVER: With three sharks
now locked on the scent...

859
00:44:22,840 --> 00:44:24,520
What are you going to do?

860
00:44:24,520 --> 00:44:25,800
JEEVA: Gosh. Uh...

861
00:44:27,120 --> 00:44:29,840
Would two sharks consider
working together?

862
00:44:35,480 --> 00:44:38,160
Look, I know what I add
to this deal.

863
00:44:38,160 --> 00:44:40,720
I've generated my clients
over $7.8 billion

864
00:44:40,720 --> 00:44:43,880
and have created 58 millionaires.

865
00:44:43,880 --> 00:44:46,240
And I think I want to go
this one alone.

866
00:44:46,240 --> 00:44:48,640
I'm a friendly shark.

867
00:44:48,640 --> 00:44:50,880
I'm a very friendly shark.

868
00:44:50,880 --> 00:44:53,640
But there isn't enough room
in this deal to partner.
OK.

869
00:44:53,640 --> 00:45:00,040
And I think I have a greater vision
of this in other areas.

870
00:45:01,040 --> 00:45:03,000
I think I want to do this on my own.

871
00:45:03,000 --> 00:45:04,880
I'm super excited about it.

872
00:45:04,880 --> 00:45:08,560
To show you how much I care
about the deal, I'll do 22.5%.

873
00:45:10,280 --> 00:45:11,360
Oh!

874
00:45:12,760 --> 00:45:17,080
See, that's the thing.
You've got to ask yourself,

875
00:45:17,080 --> 00:45:22,720
when somebody lowers their value
in what they provide you...

876
00:45:22,720 --> 00:45:25,520
(LAUGHS)
..what does that say about them?

877
00:45:25,520 --> 00:45:27,200
I was the first...
I respect your opinion.

878
00:45:27,200 --> 00:45:29,400
I was the first one in.

879
00:45:29,400 --> 00:45:33,520
2.5% is not going to make a
difference with how big this can be.
Yeah.

880
00:45:33,520 --> 00:45:36,200
That's not going to be
the difference maker here, guys.

881
00:45:38,680 --> 00:45:40,200
What do you wanna do?

882
00:45:40,200 --> 00:45:41,200
Uh...

883
00:45:43,200 --> 00:45:46,400
We've got to think bigger and you've
got to be a category killer.

884
00:45:46,400 --> 00:45:49,240
So I think you've got to run
really fast.

885
00:45:49,240 --> 00:45:52,640
I want to stick at 25%,
but I'll throw in more money.

886
00:45:52,640 --> 00:45:59,400
Oh!
So I'll give you 175,000 for 25%.

887
00:45:59,400 --> 00:46:00,680
Oh, God.

888
00:46:01,800 --> 00:46:03,880
This is your baby. You decide.

889
00:46:05,200 --> 00:46:06,680
What do you wanna do?

890
00:46:06,680 --> 00:46:08,600
(WHISPERS)

891
00:46:08,600 --> 00:46:09,880
No?

892
00:46:09,880 --> 00:46:10,880
Yeah, alright.

893
00:46:10,880 --> 00:46:12,440
OK. Go on, then.

894
00:46:12,440 --> 00:46:13,440
Uh...

895
00:46:21,440 --> 00:46:22,440
I would...

896
00:46:22,440 --> 00:46:24,520
I... Yeah, I love all of you,

897
00:46:24,520 --> 00:46:26,400
but I would like to take Robert.

898
00:46:26,400 --> 00:46:29,760
Ay! Good job.

899
00:46:29,760 --> 00:46:35,600
VOICEOVER: So Robert Herjavec beats
Sabri Suby and Davie Fogarty

900
00:46:35,600 --> 00:46:40,560
to secure 25% of Suji and Jeeva's
company Brand Scent...

901
00:46:40,560 --> 00:46:42,320
Good job. No... Good job.

902
00:46:42,320 --> 00:46:43,600
Appreciate it. Thank you.

903
00:46:43,600 --> 00:46:45,240
Thank you, everyone.
Thank you.

904
00:46:45,240 --> 00:46:49,480
..in return for $175,000,

905
00:46:49,480 --> 00:46:53,400
25,000 more than the couple
came in for.

906
00:46:53,400 --> 00:46:55,360
Let me smell this scent
they made for you.

907
00:46:55,360 --> 00:46:57,320
And you...and you were in trouble.
I was like...

908
00:46:57,320 --> 00:46:59,640
Oh, God.

909
00:46:59,640 --> 00:47:00,840
Yes!

910
00:47:00,840 --> 00:47:02,680
To be standing here with a deal
with Robert

911
00:47:02,680 --> 00:47:06,480
to take Brand Scent globally
is just absolutely incredible,

912
00:47:06,480 --> 00:47:07,960
to be honest.

913
00:47:07,960 --> 00:47:09,440
(SNIFFS)

914
00:47:09,440 --> 00:47:10,600
You know what that smell is?

915
00:47:11,600 --> 00:47:13,240
Victory!

916
00:47:16,720 --> 00:47:19,080
VOICEOVER: And that's the final deal
done.

917
00:47:19,080 --> 00:47:20,720
Oh, my God. I'm exhausted.

918
00:47:20,720 --> 00:47:23,480
This season, our sharks
have tackled it all.

919
00:47:23,480 --> 00:47:24,680
Put it on the hardest setting.

920
00:47:24,680 --> 00:47:26,040
(ALL EXCLAIM)

921
00:47:26,040 --> 00:47:27,240
This is so intense.

922
00:47:27,240 --> 00:47:28,560
From the unexpected...

923
00:47:28,560 --> 00:47:30,040
$1 million.

924
00:47:30,040 --> 00:47:31,840
$1 million!?

925
00:47:31,840 --> 00:47:32,880
$1 million.

926
00:47:32,880 --> 00:47:34,920
Don't be a crazy chicken here.
(CLUCKING)

927
00:47:34,920 --> 00:47:36,400
..to the unpredictable...

928
00:47:36,400 --> 00:47:37,480
# We're the Beanies

929
00:47:37,480 --> 00:47:38,720
# You should invest in us

930
00:47:38,720 --> 00:47:41,120
# And please don't be a
Mean person! #

931
00:47:41,120 --> 00:47:45,280
..landing an incredible
23 deals in the tank...

932
00:47:45,280 --> 00:47:46,440
What are you guys gonna do?

933
00:47:46,440 --> 00:47:47,840
Yes, we will.

934
00:47:47,840 --> 00:47:48,920
Do we have a deal?

935
00:47:48,920 --> 00:47:50,080
Let's do it.
Yes!

936
00:47:50,080 --> 00:47:51,880
We stick with the Canadian king.

937
00:47:51,880 --> 00:47:53,240
Let's do it!

938
00:47:57,080 --> 00:47:59,320
Thank you so much.

939
00:47:59,320 --> 00:48:02,240
..and products that could change
the world.

940
00:48:02,240 --> 00:48:04,120
Whoa, whoa!

941
00:48:04,120 --> 00:48:06,520
Every town in Australia has enough
water pressure

942
00:48:06,520 --> 00:48:08,080
to do a two storey house.

943
00:48:08,080 --> 00:48:10,360
I'm amazed by that.
Pretty impressive.

944
00:48:10,360 --> 00:48:12,160
It's going to be
a global phenomenon.

945
00:48:12,160 --> 00:48:13,640
Done deal!

946
00:48:13,640 --> 00:48:17,840
All you are owed in life
is an opportunity.

947
00:48:17,840 --> 00:48:23,080
And fortunately, I have the means
to pass that on

948
00:48:23,080 --> 00:48:25,040
and give you that opportunity.

949
00:48:25,040 --> 00:48:26,840
If you just have an idea,
just go for it

950
00:48:26,840 --> 00:48:28,680
because you just never know
what's going to happen.

951
00:48:33,520 --> 00:48:36,520
Captions by Red Bee Media