VOICEOVER: So far this season,
our sharks have invested well over $4 million.
Tonight...
My heart is racing right now.
..in the final episode...
I just want my girls to be really proud.
The products we sell can have a life-changing effect.
Oh, wow. That's impressive.
Yes, it is. Work it.
I'm glittery.
..the sharks still have plenty of cash left in the tank.
I'll throw in more money.
I've generated my clients over $7.8 billion.
But which entrepreneur is worth the risk?
The nerves are really starting to kick in?
Why has nobody ever thought of this? Do you know who this shark is?
I'm a friendly shark.
Breathe. Just breathe.
And who will reel in this season's final killer deal?
So, sharks, are you ready to sniff out a savvy marketing opportunity?
You've got to be a category killer.
I am very determined.
There isn't anything on the market like it.
I do want to make you an offer.
Whoa-ho!
Victory! (LAUGHS)
First up to face the sharks is
scientist-turned-mum-turned- entrepreneur Stephanie Bream
from Perth, in WA.
I am feeling really, really nervous.
Being a mum, starting a business, it's been a lot of hard work,
but I'm confident that the sharks are gonna love my product.
Hello, sharks.
My name is Stephanie,
and I'm the founder of SunDust Glitter Sunscreen.
We make a sunscreen that sparkles.
It goes on like regular sunscreen,
but leaves tiny traces of zero-plastic bio glitter
on the skin.
And when the glitter wears off, you know that it's time to reapply.
(ALL EXCLAIM)
MAN: Smart. That's clever.
Good idea.
I'm seeking investment of $100,000 for 20% share of my company.
And we plan on using the funds
to broaden our business-to-business sales
and increase our marketing exposure online.
Would you like to try a sample? ALL: Yes, please.
Thank you very much.
Thank you.
Thanks, Stephanie.
So, the gold is a gold shimmer sunscreen.
And in the white tube is a zinc sunscreen for kids.
Ooh, I'm glittering.
Are they the same SPF?
Yes, they're all SPF50.
But is it safe for people? Yes.
So, it's a plant-based bio glitter, which is unlike other glitters
that are used in cosmetics, which are a PVC-based glitter.
So, it's 100% safe for cosmetic use.
Oh, wow.
And how did you find it and come up with it?
Why are you the glitter lady?
(LAUGHS)
So, one Christmas, I was staying down by the beach with my family,
and my children refused to put on their sunscreen.
And in that moment, I had a fantastic idea.
Ran into the house, grabbed some craft glitter,
and I mixed it with sunscreen.
And instantly they loved putting on their sunscreen.
They loved seeing the sparkles.
And it made reapplication really easy.
No more fights.
It's such a great idea because my approach...
Such a great idea.
..of putting on sunscreen, the kids,
is to get a spray and then go,
"Three, two, one, close your eyes, you're gonna get sprayed,"
and just, like, going for it.
As a scientist, I thought craft glitter is terrible
for the environment and there has to be a better way.
So, two years in product development and testing
and we launched SunDust Sunscreen in 2021.
You're a scientist?
Yes, I'm a geologist by background.
Wow.
Is the sunscreen formula something special that you have made?
So, the glitter is made out of a plant cellulose,
and my manufacturer puts it into my formula
that has no nasty chemicals in it.
It's reef-safe and marine friendly.
Why has nobody ever thought of this?
Well, the technology with the plant-based glitter
is pretty new to market.
I gotta tell you, I've done the show in Canada,
I've done the show in the US, I think, in my humble opinion,
Australians are the most entrepreneurial people in the world.
Thank you.
So, could you please run us through what the sales are today?
We have sold 5,000 units of the bio glitter sunscreen.
We've actually sold out of that line.
Wow.
What does that look like in terms of gross sales?
So, that's $112,000 worth of sales.
With $45,000 net profit.
Well done.
So, how have the sales been tracking, let's say,
past six months compared to the previous six months?
We have a really big summer and then we have a downturn.
So, what that means is that I'm now looking at expanding my company
into the Northern Hemisphere,
and I'm already registered in the UK and the US.
We actually sell a lot of summer products in the UK
as well, to offset, so that's a really, really good plan.
Yeah.
Tell me, when your distributor goes to a retailer,
and the retailer doesn't pick it up, why?
Not everybody is a fan of glitter.
What?! Not everybody.
Who are these people? Exactly!
(LAUGHS)
But as soon as people use the tester and it's quite a subtle glitter,
that's when the customer is excited.
I think this is such a fantastic product,
because there's been a lot of innovation in sun care
but not in kids'.
So this is really exciting.
But there isn't anything on the market like it, right?
Is that is that true, though? Yeah, can we just confirm that?
Is there nothing else on the market?
So, there is a product in the UK called Unicorn Snot...
(ALL EXCLAIM) ..which uses...
Great. That's so cute.
(LAUGHS)
..which uses a bio glitter, but it's a PVC bio glitter.
And I think that's my unique selling point, is that this is a glitter
that's 100% environmentally safe, which is really important.
And what's your vision for SunDust?
I really want to be encouraging children and young adults
to be wearing sunscreen because skin cancer is such an issue,
especially here in Australia.
Sometimes I see products and I'm like,
"Why didn't I think of this? This is brilliant."
And then your sales are OK, nothing wrong with them,
but I'm thinking, "Why isn't it flying off the shelf?"
The reason why is because as a small business,
I underestimated the amount of marketing I would have to do online
to reach my customer.
So let's chat about that.
It's very hard to understand what the product does.
Like, it doesn't actually say, "When you lose the glitter,
"it's time to reapply," which I think made us all react
when you pitched it.
I can't see that anywhere here.
It's an indicator, but I haven't done any scientific studies
because of how the sunscreen formula wears off on the skin,
the glitter comes off, if anything,
at a faster rate than the actual sunscreen.
Mm-hm. OK.
But that's very easily communicated in digital marketing.
Have you tried digital marketing, and how has that gone?
I am teaching myself Google Ads, Instagram...
Great. ..and Facebook.
I'm doing it all on my own. I am the only employee of SunDust.
(LAUGHS) Love it. What are the other products?
So, this is an organic shimmer oil.
We make eco-friendly towels made out of recycled ocean plastics.
Whoa. I thought we were in the suntan lotion business.
Um...yes.
Why expand the product line?
Because I wanted to increase the average sale
through my e-commerce site.
How many of the suntan products
get attached to a towel or another product?
Generally, every sale has an up-sell.
Interesting.
So, I love the product. I think it's genius.
But I would have expected someone like yourself,
you're obviously very, very competent, and it's a great product,
to just have more sales by now.
So, for that reason, I'm out.
Yeah.
Stephanie, the thing that's going to make you successful
is leaning into one corner of the market and the niche,
and just amplifying the sales on that.
Yep.
But I just don't see one hero product in terms of YOUR focus
and where you see yourself growing this business.
So, for those reasons, I'm out.
Yeah.
Stephanie, I love that you have an environmental orientation,
and also we do need to do a lot to combat skin cancer in Australia.
But I agree with some of the other sharks
that I think just knuckle down
possibly into the children's glitter sunscreen area.
I'm out.
Thank you.
VOICEOVER: With three of the five sharks already out of the running...
Gotta make a decision.
..will Jane Lu or Robert Herjavec see the sparkle
in Stephanie's business?
Oh, Steph, I think I'm just, like, back and forth on this a bit.
I am very determined to be the best.
I was very successful in my previous career,
so I am confident that I can take this to the next level.
And I just would really love a shark to come on that journey with me.
It's tough.
If it's the fashion industry, I'm like,
"That's fine, I know exactly what to do."
I'm so sorry, I'm just...
..I don't think I'll be able to get there today.
I'm out.
And then there was one.
Then there was one.
Yeah.
Stephanie, you came out, level of excitement,
saw the product, super high,
heard about the product extensions, went way down.
Oh.
Alright, look, I'm going to make you an offer.
Yes! Thanks, Robert. (LAUGHS)
But it's going to be an offer you may not like.
The difference, though, is I can't do this one on my own.
I have a company in mind,
and we can have them launch it in the US.
So I'll give you $100,000...
..I only want the North American market...
..but I want 75%.
(WHISTLES)
Wow. Of the US market.
Because I gotta make enough room for somebody else to come in.
That is a sharkie offer.
Well, here's the benefit of the offer.
You get 25% of anything they sell in that market.
How does that work, then, with the Australian market?
You keep going. Yep.
Like, you keep going, I don't need to own equity.
I'm really doing a distribution deal with you.
Yeah. My market...
My market?
Our market in the US is independent of the...
He's just taking over your business now!
Stephanie...
Is it worth saving you that time?
Yes. Do you have a deal?
I think we have a deal. (CHEERING)
Alright!
Great work.
Thank you. Amazing. Thank you.
Well done, Stephanie. Thank you.
Good job. Thanks, Stephanie.
See ya, Stephanie.
It was fantastic. It was incredibly nerve-racking.
Sorry, I'm feeing all tearful.
I just want my girls to be really proud of something
that their mum is doing.
And being able to run my own business means that I get to spend
quality family time watching my children grow up.
Daniel Reid and Luke Kyriazis aren't just snappy dressers.
They aim to help individuals smarten up their act.
Throughout the last 5 or 6 years we've been in business together,
we've been through ups and downs and we've learnt a lot.
I'm quite confident we'll get a couple of offers today.
And we're looking to take our brand all over Australia
and hopefully the world one day.
Ready? Yep.
Oh! Wow.
Ho, ho, ho! Love it.
Here we go. Work it!
Yeah.
Hello, sharks.
I'm Luke, co-founder of Suitor, and this is my business partner, Daniel.
G'day, sharks.
And today we're here to give you the chance to invest
in Australia's first and only online suit hire company.
We're looking for $250,000 in exchange for 10% equity
in our business.
Our own story began based on our own struggles to find suits
for our Year 12 formal.
We found the process frustrating, expensive,
and the final product was underwhelming.
That's when we decided to create a better alternative
for Aussie blokes.
And we've done it.
You can skip the in-store hassle and customise your own perfect look
from the convenience of your own home.
Last year in 2022, we did over $1 million in sales
at a growth rate of 300%. Wow.
So sharks, who's ready to be the sharpest looking investor
in the tank and be a suitor of our business?
Oh, amazing.
Great pitch, guys.
So you said you're the only online suit rental company.
The only online suit hire place in Australia. There's no other ones.
There's a couple that's tried but has not succeeded.
Terrific. So I come to your website.
Do I just put in my dimensions on there?
How does it work in terms of sizing and getting the suit?
We've managed to make it really simple for customers.
All customers need to do is enter their height, weight
and waist size, and we can determine sizes for them.
Daniel and Luke, I'm Cat and the mother of four sons.
Ooh!
So I know for the mothers of the world, this is a problem
that needs solving.
Yeah, people love these suits.
Could you think about using AI so that people could actually see
the suit on them and mix and match different styles
or different pieces?
People love to see what the suit would look like on them,
but we don't have any AI or vision AI at the moment.
ROBERT: So walk me through it. Yep.
Jane invited me to her house.
She's making dinner. We're very fancy.
I'm so excited.
What's the dress code?
Oh, it's black tie. Black tie.
So I pick one. I put it on. Yeah.
Go to Jane's house.
The food was OK. The company was great.
What do I do with it then?
We give you a return shipping label.
So you put that on top of the box
and you just take it to the post office and it'll come right back to us.
Very smart. That's really smart.
What's your role in the business between the two of you?
I'm the CEO, so I do all the business development
and the finances.
I'd do the operations, so organising the suits,
making sure they're in good quality, the dry cleaning processes, all of that.
And you're such a great fit together.
Yeah, exactly.
And we've been best friends for 14 years now.
I've always sort of been entrepreneurial, so I always wanted
to start my own business when I was very young.
And then Luke had the storage space. So...
He came up with the idea and I had a granny flat that was empty.
So he thought...bring me in.
And yeah, we made a good team from that point.
I'm sure you're more than just a granny flat to him.
Ohh, thank you.
How old are you guys? 25.
Wow. You're only 25!? Incredible.
Oh, you make Davie look old. Well done.
Hey, Daniel and Luke, can you go through the past three years
of sales, revenue, profit,
and also what you're forecasting for this year?
Yeah, sure. So in 2020, we did $100,000 in sales during COVID. Wow.
Last year we did 1.06 million.
Well done.
This year we're forecasting 1.7 million in sales
and a gross profit of about $480,000.
Wow. Great.
Love that you know your numbers so well.
I've got a Masters of Commerce. So I should know business.
Incredible business. Thank you very much.
You're going to make 480,000 in profit.
I have nothing to fault you for.
It's just not a business that gets me excited.
And I think you're going to get some interest up here, I predict.
But for now, I'm out.
Thank you. Thank you.
So, I'm extremely impressed with you both.
But when you're at a stage where you've automated
the whole business using AI, then you know, I'm your gal.
At this stage, I'm out. Thank you.
Well, look, I think you guys are phenomenal.
You really dialled in on the numbers.
How big do you think you guys can grow this business?
So in Australia, the tuxedo rental market is between 100 and $150 million.
The suiting industry is worth $1 billion.
Cool. So look, I will take a flyer,
but I'm not going to make it easy for you.
Sure.
I am willing to offer you half of the money,
so you'll have to convince another shark for the other half.
And I would want 7.5% of the business.
OK. Thank you. Thank you for that offer. Thank you.
I think you guys are going to be absolutely amazing.
You're going to annihilate the competitors.
They're just prehistoric people sitting in their retail store.
Well, that's the thing about the field is
there's been no disruption in this industry for 100 years.
I'm happy to go in on Sabri's offer.
I think the valuation that Sabri has offered,
considering the amount of work that we have to do as well coming in,
but it also leaves enough for you guys to get a huge payday at the end of it.
So you're offering $125,000 for 7.5%?
Correct.
So between Sabri and Davie, you've got your $250,000.
But for 15%.
It's a great offer. CAT: It's a great deal.
Jane, what are you going to do?
No, that's...I honestly think that's a great team.
Are you in or are you out?
No, I think you should take these guys. I'm out.
Thank you guys for your offers. Can we talk to the wall?
You can. Don't take too long.
What do you think?
I think you could have got 20%.
I thought you were gonna ask for more.
It's a profitable business.
But they're negotiating now. You've got to leave room.
We got marketing. We got branding.
Alright, guys, great offer in front of you.
$250,000. Two sharks.
What do you say?
Deal.
Give me a hug.
VOICEOVER: Best friends Luke and Daniel couldn't be happier
that they've managed to sew up a life changing deal.
Well done, guys.
It's absolutely incredible.
I don't think it's quite hit us yet.
Yeah, I think we've really made the dream team here and we can't wait
to work with these guys.
Good stuff.
Yeah!
VOICEOVER: Hoping to change lives with their product,
Bec Cerio and Erin Spencer are next up to face the sharks.
We provide affordable gender-affirming products,
help people express their gender identities when that doesn't match
what was assigned for them at birth.
When we started this business, we had no experience,
and it's relying on that lived experience of our own
and our community to build the business into what it is today.
Oh, my God.
My name is Bec.
My pronouns are she and they.
My name is Erin.
My pronouns are they/them.
And we are the co-founders and directors of Sock Drawer Heroes,
Australia's leading gender expression company
for the trans and gender diverse community.
We stock over 20 local and international brands,
many of which are trans and queer-owned small companies
like ourselves, because from our experience,
we know that the best gender-affirming products
are made by our community, for our community.
In 2017, I transitioned as non-binary.
I found that there was a significant lack of products available
in Australia.
Knowing the life changing impact that these products can have
on the mental health and wellbeing of our community,
we saw this as a massive problem.
Most of our customers, they're not just buying something,
but they're connecting with their community
and taking that first step of really feeling confident to be who they are
and feeling safe.
After two years of research and development, we just launched
our very own chest binder range.
A chest binder is a compression garment
worn to flatten the breast tissue
for a more typically masculine appearance.
Having an investor would help us expand our own Sock Drawer Heroes
product range.
It is really important to us that anyone we work with is an ally
of the trans and gender diverse community.
We are seeking a $120,000 investment for a 7.5% stake in our company.
Thank you. And we welcome your questions.
Thanks, Bec. Thanks, Erin.
What's the valuation?
We're horrible at math. Quickly doing the maths.
So... 80 is five. 160 is 10.
So $1.6 million.
Was she right?
Yeah.
Yeah? Of course.
That's impressive.
My name is Cat, and I think that what you're doing is fantastic.
So, would love to hear a bit more about
both of your own personal stories if you're willing to share.
I came out as queer in my late teens, and at the time
I didn't have language for anything else.
I always feel...felt kind of in between genders
in this sort of mixed space.
Looking back, a lot of the things I went through as a teenager
with my mental health would now be called gender dysphoria.
So it wasn't until I was 32 and I'd met Bec that I finally felt
comfortable and confident to start to transition.
Are you partners? Yes.
Yay! We've been married for seven years.
Oh, awesome.
So we started as a partnership.
I work full time, so I myself wear a lot of hats in the business.
And I've actually got a background working in public health
and LGBTQ health.
So, day to day, that really informs the work I do
on Sock Drawer Heroes as well.
Great.
So how big is this market? How big do you think you can grow this business?
Generally, it's thought to be between kind of 2 and 3%,
but we know it's actually much higher.
And it's a growing market, particularly among younger people.
What's the competition like?
In Australia, there are a couple of smaller companies,
but we very much hold the market.
We are looking to expand on our chest binder range.
Chest binders are hands down our biggest seller.
We've been talking about the binders,
which is a more trans-masculine product for a masculine appearance,
but we sell tucking underwear and trans-feminine lingerie as well.
Can I ask you about what your sales have been across the various years?
Yeah.
So, financials from '22, our revenue was $610,000. Wow.
Our gross was $300,000.
And our net profit for that year was $13,200.
(WHISTLES) Well done.
So tell me about your sales.
Through brands and your own product with the chest binders.
So using the binders as an example,
we have a short binder and a long binder.
The short binder landed cost is $21 and it retails for $66.
So quite a good mark-up on that one. It's about 214%.
Wow. Can we have a look at them?
How many SKUs do you have?
It's a good question. Estimate.
You'd like colour variants and things?
Yeah. I'd say about 800.
800? 800!
How much are you spending on advertising?
Not much at all.
95% of our growth is just from word of mouth.
So my professional background is in website development and SEO.
OK. So...
Have you put that to work in this business?
Yes. Definitely.
OK. So you're getting lots of free traffic.
Building our business. Yes. Yes.
Guys, I...look, let me...let me tell you where I'm at.
First of all, and thank you for sharing your story.
There's no human being that should feel lesser for any reason.
It almost feels like you're giving a home to people.
Putting all that aside,
I think my challenge with the business is I'm not sure
what the business is right now.
What I heard is e-commerce with a great SEO expert,
great product, physical presence,
and now you're manufacturing your own product.
Those are three different skill sets.
For me right now, it's just not an investment. I'm out.
Thank you.
Erin, Bec. You've got a great business.
It's really good.
My problem with it is I have another business that sells
other people's products.
And what's happened over time is more competitors have started
selling those products and dropping the prices,
and my margins have been squeezed.
So I'm a little bit personally scarred from that.
If you came in and you had a lot more progression
with your own product, it might be a different story.
But for those reasons, I'm out.
OK. Thank you.
Bec and Erin,
it's clear that you know your stuff from an SEO standpoint
and you've cornered off the market.
For me, the growth path is quite clear.
But you know, the expertise that you're going to really need
and the guidance is going to be around developing that product.
And that's just not my wheelhouse.
So for that reason, I'm out.
OK. Thank you.
Erin, Bec. Basically, a couple of years ago,
someone came into our business and was like, "You need to sell brands."
And we started selling brands.
It didn't work for us.
And so we're like, OK, it's not commercial. We're dropping it.
For you guys, there's more purpose behind that.
I think you guys are so fantastic, but as an investment, I'm out.
But I'd love to help you where I can.
Thank you. Thank you. Really appreciate that.
Cat.
Look, I do agree with the other sharks that it seems that your focus
is a little bit sort of all over the place with the retail
and online and the physical store, etc.
I don't know a lot about fashion and retail and online e-commerce,
so I'm not sure that I am the most ideal investor for you.
That makes sense.
Yeah.
That being said.
I do want to make you an offer.
Ooh.
But I need Jane to come into this deal.
Do I want to come in?
VOICEOVER: With retail CEO Jane Lu already out...
..can Catriona Wallace entice the fashion expert
back to the bargaining table with founders Erin and Bec?
They're seeking $120,000 for 7.5% equity in their business,
Sock Drawer Heroes.
Look, I do agree with the other sharks that it seems that your focus
is a little bit sort of all over the place with the retail and online
and the physical store, etc.
I don't know a lot about fashion and retail and online e-commerce.
That being said, I think I could help you.
I have been acknowledged as the most influential woman in business
and entrepreneurship in Australia for many years.
So I do want to make you an offer.
Ooh.
OK.
My offer...
..is the $120,000 for 20% of the business.
But I need Jane to come into this deal.
Oh, what can I do? I...
Do I want to come in?
Erin, Bec.
I absolutely love the purpose of what you're doing.
It's also phenomenal what you've already built it to.
I'm in.
Alright. Thank you, Janie.
We'll just have a have a huddle. You can have a huddle.
Do we want that?
Thank you for your offer.
Would you consider 120,000 for 15% between you?
Stay strong.
No.
OK.
16.
Do you know who this shark is?
I know.
What about 18%?
We really didn't want to go above ten.
Mm.
Good for you.
But having two sharks... Yeah.
17.5. We're gonna meet halfway.
I prefer an even number, so...
16?
So, two sharks, $120,000 for 16% of the business.
And what do you guys say?
Yes. We'll accept that.
Let's do it. Let's do it.
VOICEOVER: A great pairing for Sock Drawer Heroes.
Bec and Erin have secured a deal with fashion guru Jane Lu
and AI scientist Catriona Wallace.
Yay! OK, cool. Good bargaining tip.
Parting with 16% of their company for $120,000.
Yay! Very shocked.
Happy? Yeah.
Really happy about having gotten Catriona and Jane.
We had said before we did want the women.
Yay! Yay!
Coming up, is it a case of lucky last?
Or will overwhelming nerves...
We create bespoke scents through the power of...
Oh, my God.
..shatter the dreams of the final entrepreneurs in the tank?
We left our...
Sorry. Can I start over again?
Breathe.
Just breathe. Big breath in and breathe out slowly.
Who will secure life changing investment?
With full episodes of Shark Tank Australia on 10 Play.
Last up to face the sharks are doctors Suji and Jeeva Sanjeevan.
The couple is hoping for investment in their company Brand Scent.
We're husband and wife and, yeah,
we stepped in from our medical careers
into this kind of entrepreneurship.
My heart is racing right now.
Yeah, the nerves are really starting to kick in.
Ooh! Scent marketing. Do you know about this, Roberto?
No. What is it?
What they use in casinos, using certain scents
to get people to spend more money and elicit emotional reactions.
Interesting.
Here goes. That's it.
Hi, shark. I'm Jeeva. And I'm Suji,
and we're the founders of Brand Scent.
Brand Scent is your go-to scent marketing agency.
We create bespoke scents through the power of...
Oh, my God.
Oh, sorry.
So, to take...
Sorry.
Erm...
Oh, my goodness.
Um, so... We left our...
Sorry. Can I start it from the beginning again?
Sorry. Oh, my God. Alright. OK.
Just...just breathe in.
Sorry. Just got...
Breathe and slow it all down.
Breathe.
Just breathe. Big breath in and breathe out slowly. Just get...
Just keep going. If you get stuck, just keep going. It'll come.
OK? Sure. Do you want to start?
Yeah.
What is the one thing that brands crave?
They crave a point of difference.
They want to stand out and they want to create a memorable brand.
And that's exactly what we do through the power of scent.
So brands come to us and they ask us to create a bespoke scent.
There's a real psychology behind scents
and we play on that behavioural science.
We left behind our medical careers to enter entrepreneurship,
and we really have a passion for distilling aroma.
Today, what we are looking at is a 10% investment for $150,000.
So sharks, are you ready to sniff out a savvy marketing opportunity?
Oh, you've got samples. Bring the samples.
Yeah. So we've actually created five bespoke scents for you guys. Ooh!
Based on, I guess, your online identity.
Ooh!
So, Robert, we've got Suave for you, so...
Oh, yes, you do!
And for Jane, we've got Showpo.
Ohhh! So we based it on your brand.
You've got a real fire online.
So we've got elemi in there, we've got musk and amber,
and that's really what we've done there.
Oh, my gosh. I smell amazing.
So what's my special scent?
So, yours has got bergamot. It's a real suave scent.
So, a sense of luxury.
Yes, it is.
Davie, what we've done with your scent is really about
young children, adults who buy Oodie.
So we've created a salted caramel popcorn scent.
It smells delicious. I could almost drink it.
I can't wait to see how you've done a robot in a bottle.
We named it Imminence
because that world with where robots and humans kind of amalgamate
is really imminent.
So we named it that.
Jeeva, I love that. Imminence. I'm going to name my next boat that.
Imminence.
And so with yours, Sabri, with King Kong Digital,
you're delivering workshops.
You want people to feel engaged and alert.
We've got lemon and lime. It smells great.
Those scents that really make people alert. Hope you like it.
Did you mention that you had medical careers?
That's right. Yes. Yes. Yeah.
I'm in allergy and immunology. Doctor?
Yes, I finished my medical career, but I stepped into clinical research
and policy and development. Yeah.
Jeeva and Suji, I already actually use this in my office. Right?
So, I have three of these machines. Really?
We created a unique scent.
So can you run me through what your application is?
What are the biggest customers?
And give us a little bit of insight into the business.
One of the scent partner for us is one of the world-leading corporate brand.
Who is that?
It's American Express. Wow.
American Express. Wow.
One of our customers we worked with, an iconic food brand.
So the contract in itself is $200,000.
Because it wasn't just the scent.
So we manufactured the candles, the reed diffusers, the perfumes.
But then we work as a add-on marketing team where we give them
ideas in terms of what can they do with that scent.
Wow. That's very impressive.
So, talk to us about your sales.
So the first year when we started, it was 120,000.
COVID hit, obviously.
So the next year it was 200,000.
This year we are looking half a million. So, 500,000.
We are looking at at least 1.5 million next year.
So...I own a big cybersecurity company. Cyderes.
We have a bunch of engineers. They smell bad.
We want to motivate them, want our office to smell nice.
I find you, I call you. Walk me through the process.
So, as you can see, we've got these little samples that we send out
to the clients so they get an idea of what is a floral scent,
what do we classify as an earthy scent?
And to give them a real... paint a picture.
What do you charge me?
So if someone come to us and saying that I have no idea...
I have no idea.
If that's the case, we'll be charging $4,000 plus GST.
But that is just the beginning.
It will be like a subscription,
so they will be paying around $250 a month.
And then how long do I have to sign up?
Three year contracts.
Wow! So we stipulate that you stay with us for three years
and after three years, if you do want to move away
and you want to move elsewhere, then you'd have to buy out the IP.
Wow.
You guys aren't the only player that is doing this, right?
So how are you different from the other alternatives that exist?
There's a real behavioural science and psychology to what we do.
We can explain that behavioural science,
we can explain the psychology, whereas not every company
can do what we can do because we have that science backing.
So let's talk scents.
If you look at how the scents being processed in your brain,
that's where your memory centre and where your emotions centre is.
So what we are trying to do is we create a scent for a brand
and we are connecting their customers through the memory
and the emotion.
What's your margin?
We work on up to 65% gross profit.
That's incredible.
So I don't know anything about this space really.
So as an investment today, I'm out.
But as a business I think it's fantastic.
Thanks, Jane.
Jeeva and Suji, I love the fact that you've come from a medical background.
Unfortunately for me, until it's embedded in a haptic suit,
this investment is not for me.
I'm out.
Thank you.
What are you looking for in a shark?
So at the moment, we outsource in terms of we hire a lab space,
so we're paying to have it offsite.
But we need the investment to build a lab within our factory.
You actually make the perfume?
Yes. Yeah.
You couldn't just contract that?
We do at the moment. We have a perfumist there.
But we do believe that if we can bring it in-house,
we increase efficiency.
And if we can buy raw materials, we can bring costs down
and we can turn it around a lot quicker.
Look, the more notes I write, the less I want to jump into the deal
because it just feels so complicated.
But I look at you two and you are incredible.
So I am going to make you an offer.
I'll give you $150,000,
but I want 25% of the business.
It's funny. I had the exact same feeling.
The more notes I write, the less interested I am.
Because there's competitors.
I've never heard of the space.
In fact, I had a really good pun written
for when I was going to go out,
which is...
..this deal doesn't smell good to me.
But I think Davie is right.
You guys are just so solid.
It's such a great space and you're so credible.
I'll offer you the 150,000 for 25% also.
Wow. Thank you.
VOICOVER: With Robert Herjavec and Davie Fogarty seeing huge potential
in Brand Scent, will Sabri Suby scent success in the business too?
I know this space.
I'm a customer in this space.
I believe in the future of this business
and of this category.
I think that you really need to become the category king in this
and really just crush everybody out of the space.
And the way that you do that is just by smothering the market
with marketing. Yep.
I've got hundreds of clients that I would obviously...
..natural brand extension with this.
I, too, will offer you 150,000.
For 25%.
Thank you.
So as you can see, they just copied me.
What are you going to do?
So I'll give you the $150,000, but I want 25%.
I'll offer you the 150,000 for 25% also.
I too will offer you 150,000 for 25%.
Wow. You've got three offers. Three great offers.
VOICEOVER: With three sharks now locked on the scent...
What are you going to do?
JEEVA: Gosh. Uh...
Would two sharks consider working together?
Look, I know what I add to this deal.
I've generated my clients over $7.8 billion
and have created 58 millionaires.
And I think I want to go this one alone.
I'm a friendly shark.
I'm a very friendly shark.
But there isn't enough room in this deal to partner. OK.
And I think I have a greater vision of this in other areas.
I think I want to do this on my own.
I'm super excited about it.
To show you how much I care about the deal, I'll do 22.5%.
Oh!
See, that's the thing. You've got to ask yourself,
when somebody lowers their value in what they provide you...
(LAUGHS) ..what does that say about them?
I was the first... I respect your opinion.
I was the first one in.
2.5% is not going to make a difference with how big this can be. Yeah.
That's not going to be the difference maker here, guys.
What do you wanna do?
Uh...
We've got to think bigger and you've got to be a category killer.
So I think you've got to run really fast.
I want to stick at 25%, but I'll throw in more money.
Oh! So I'll give you 175,000 for 25%.
Oh, God.
This is your baby. You decide.
What do you wanna do?
(WHISPERS)
No?
Yeah, alright.
OK. Go on, then.
Uh...
I would...
I... Yeah, I love all of you,
but I would like to take Robert.
Ay! Good job.
VOICEOVER: So Robert Herjavec beats Sabri Suby and Davie Fogarty
to secure 25% of Suji and Jeeva's company Brand Scent...
Good job. No... Good job.
Appreciate it. Thank you.
Thank you, everyone. Thank you.
..in return for $175,000,
25,000 more than the couple came in for.
Let me smell this scent they made for you.
And you...and you were in trouble. I was like...
Oh, God.
Yes!
To be standing here with a deal with Robert
to take Brand Scent globally is just absolutely incredible,
to be honest.
(SNIFFS)
You know what that smell is?
Victory!
VOICEOVER: And that's the final deal done.
Oh, my God. I'm exhausted.
This season, our sharks have tackled it all.
Put it on the hardest setting.
(ALL EXCLAIM)
This is so intense.
From the unexpected...
$1 million.
$1 million!?
$1 million.
Don't be a crazy chicken here. (CLUCKING)
..to the unpredictable...
# We're the Beanies
# You should invest in us
# And please don't be a Mean person! #
..landing an incredible 23 deals in the tank...
What are you guys gonna do?
Yes, we will.
Do we have a deal?
Let's do it. Yes!
We stick with the Canadian king.
Let's do it!
Thank you so much.
..and products that could change the world.
Whoa, whoa!
Every town in Australia has enough water pressure
to do a two storey house.
I'm amazed by that. Pretty impressive.
It's going to be a global phenomenon.
Done deal!
All you are owed in life is an opportunity.
And fortunately, I have the means to pass that on
and give you that opportunity.
If you just have an idea, just go for it
because you just never know what's going to happen.
Captions by Red Bee Media