Bariatric Surgeon’s Rapid Weight Loss Meals Sparks Sharks' Appetite! | Shark Tank AUS

first into the tank is an entrepreneur long with her business partner believes she has found the answer to a growing problem my co-founder and I he's a bariatric surgeon I'm a clinical dietitian we've been working the weight loss field for thirteen years I believe in the product and I just hope I can convince the Sharks and get their interest [Music] hello sharks let me start by posing you a question how many of your friends and family would like to lose five maybe ten kilos maybe before a special occasion what do they do beef it food has taken the guesswork out of this we offer seven-day programs breakfast lunch dinner and snacks for people needing rapid weight loss I'm Kate save clinical dietitian co-founder of befit food along with dr. Jeffrey Draper a bariatric surgeon we're asking for $300,000 for 20% beef it food is chef created and scientifically formulated for rapid weight loss and healthy eating our patients lose between 3 to 12 kilos in two weeks and they're not hungry the science behind our diet stops their appetite we believe that we can help millions of Australians lose weight but more importantly to help them keep this weight off so sharks would you like to try some of our foods love to love TV why not okay just confirming $300,000 for 20% of your company yes valuing your business at 1.5 million that's okay we've put a few different things here we've got our barbecue lamb that one yes we've got a curried pumpkin and chicken soup I'll take the soup and five different protein balls that's a good soup o-ring has been prepared fresh that's really good really really good I've designed all the recipes myself thanks Kate Thanks yeah okay tell us how did this come about because I suspected something to do with bariatric surgery which I think is where you put a little binds around the stomach isn't it sort of making the stomach smaller in effect that's right what we found in patients was after they had the surgery nobody had educated them about what to eat and then we had people ask us I guess why couldn't they just do this diet without actually having a surgery you can keep the weight off and the appetite suppression comes from ketosis by using a ketogenic diet it's a little bit lowering carbohydrate but really high in fiber and protein you change the hormones so the ones that stimulate appetite actually is suppressed is it for the obese person that needs bariatric surgery or is it the overweight person that just got to get back to something that's absolutely not just obese people we're really targeting people that want that five to ten kilos weight loss in two weeks so people go on the your website and they pick a plan is that how they work and then you deliver it so seven-day rapid weight loss program on the smaller meal so they get breakfast lunch dinner and their snack is one hundred and eighty six fifty and $20 delivery our cost of goods on that so the actual ingredients the packaging the labels all of that is about 33% at our current volumes but we know that at 300 percent of what we're currently producing that'll come down to 23% 23% on food is is really impossible if you're giving them quality food we work with a lot of food companies we're getting some special deals through some of the food companies that we work with and a lot of health brands so you don't have a program just a normal general eating healthy program we do but it's not our main focus we believe there's heaps of general healthy eating programs out there and that's where the competition is and we're the only company that we believe in Australia is actually playing in the rapid weight loss field with real food so you nationwide at the moment we're currently in Victoria and we are absolutely dying to get into the other states we get inquiries every day and our biggest problem is logistics so we are here to seek help from people who lots of expertise so tell us about yourselves today first you are trading with 77,000 this year to date to 300,000 what's your business gonna look like in four years time our projections for three years at 2.8 million with a profit margin of 49 percent your business partner yes I think it's time to meet Jeff I can't think about an investment we want to see who's who absolutely okay I'll get younger Jeff thank you this is really good that's good yeah yeah you all right there Steve you can get arrested for shoplifting you know they're all been busted my hands a cookie jar she's a fabulous advocate of her product oh yes oh my goodness and she's smart and the dress is pretty good too oh shut up [Music] that's alright hey Jeff thank you so I imagine a barrack surgeon get paid a fair bit to be honest maybe there's just no misunderstanding in life maybe so one here cash why do we need your cash you guys make you guys make it a local bandits what do you okay I think we're specialists in our field and actually seeking your expertise so the Cates come out she's pitched a beautiful investment story give us your version of why we should invest in this in this business be fit food has a huge potential I believe in helping Australians lose weight and keeping it off I completely believe in the science and also in the product so Kate and Jeff you're both professionals in your area and what I believe you need is a business partner or a business manager somebody who really understands food logistics that's not going to be me so for this investment I'm out thank you very advisable [Music] so Kate and Jeff I like what you're doing because you're not competing against the Lean Cuisine or the Weight Watchers program so I get the business model the issue I have is that logistics and moving a food around the country is not where I feel comfortable so for that reason I'm out but I wish you the best of luck and I hope to see your product right across the landscape it's important thank you very much ute addressing a very important problem congratulations and I by the science I think you've got a business model that can work for you I think you'll make money but at a 1.5 million valuation to get to 3 million in sales in three years just doesn't excite me so wish you luck thank the market needs it but I'm out you've heard from the three people that are out in this very good reasons while they're out you have a massive job ahead of you it's huge that I love the science behind it and I love the fact that you are experts in your field and that gives you your barriers to entry I really like the business it's evaluation I do not like but I will making you an offer kite safe and Jeff Draper are in the shark tank hoping to lock in a $300,000 investment for 20% of beef it food so far Naomi Glen and Andrew are out I will making you an offer it's evaluation I do not like you've been around for 20 months and so you're definitely not worth 1/2 a million dollars you just can't be because you've got so much more risk to come I will give you $300,000 broken into 200,000 equity a hundred thousand dollars in loan that we can work through later for 33 and a third percent so there will be the three of us in it together Thank You Janine [Music] so look you've done fantastic well look I've had a hell of a weight loss doing over the years so I am a huge believer in this working you're exceptionally impressive and you're the clinical verification behind it right in some respects oh it's a plenty good business pairing I'll make it offer 300 K 33 2/3 percent Steve's offered three hundred thousand for 33% Janine's offered two hundred thousand for 33% and then a loan of 100 which means there's going to be an arrangement where the business will have to pay that back yeah okay what you need is a business partner someone who has that logistical side and the accounting side but I actually I'm buying you guys because I actually really love what you're doing and if I can help get this out here because it is a real problem then I'd be very happy first to make sure you understand which footage the shark spring for example I bring an operational team complete with the Finance and Accounting and operations who do you want Janene or Steve okay [Applause] Janene we'd like to accept your offer I still love you I still that's a great deal good name yes amazing what made you go for Janine we see a lot of synergy between our brand and Janine's brand yeah Janine I guess it's everything that we really wanted done denying that they were a good deal yeah it was a really good deal [Music] you [Music]

Channel: Shark Tank Australia

Views: 499,228

Keywords: best shark tank ideas, business, deal, entrepreneurs, mark cuban, millionaire, money, most successful shark tank pitches, proof eyewear, rejected shark tank pitches that became successful, rejected shark tank, shark tank episode, shark tank pitches, top trending, shark tank show, shark tank success, shark tank, worst shark tank pitches, best shark tank pitches, full episode, shark tank full episode, 2019 new, keto diet, keto recipes

Id: UWNBeiJGN_M

Length: 11min 52sec (712 seconds)

Published: Fri May 22 2020