Entrepreneur Receives Four VERY Different Offers | Shark Tank AUS

foreign [Applause] it's in this briefcase it's going to blow the Sharks away and the tank a Queensland inventor with a box of Tricks he hopes will put an end to Peak our traffic Blues [Music] play sharks my name is Adam Raleigh today I'm asking for twenty thousand dollars for 10% of my business my business is like compact personal electric vehicles in Australia alone over 80 billion dollars is spent on transport annually 6.5 million people commute to work over 28 of all commutes are under 20 under 10 kilometers and without passengers imagine owning a vehicle that is as small as this briefcase it's going to either use it in conjunction with public transport and when you get to the destination you can easily put in the locker or put it next to your desk this is my personal electric vehicle how cool is that all right mate I want one that is fantastic that is amazing foreign [Applause] control at speeds at 35 kilometers an hour as virginity braking so 90 stops easy it also puts power back into the battery has forward and reverse modes sorry can I have a go yes so how do you work it doesn't work in all heels obviously no back of the heels so go forward you just push this in this time Adam how long have you had the the board in a practical use uh at two years I've had this design it's been working for two years I had five prototypes and this is the final prototype why do we not see electric skateboards all around the place or do we and I just don't know getting very very popular the last couple of years I've been my first one 23 years ago you built your first one 23 years ago how old were you then 15. okay how do your traditional electric skateboards differ from this electric skateboard this is the first audible electric skateboard in the world in the world as far as I'm aware did you painted it yes and that's what the painting covers the foldable aspect yes and what do you anticipate to sell them for 1199 what are you making for mate 500 wow how many have you made 150 in the production at the moment so you have so you haven't sold any people have um ordered in already pre-orders for the night Soldier tell me a bit about your background by the way we also need to hear what kind of vitamins you're on because you still only look about 16. thanks very much give us a bit of a feel for you as a person I'm a qualified Chef by trade a chef a chef wow I used to own a restaurant as well and I used to have 30 people working for me so you've run a small business before I have yes oh good so you've asked us for twenty thousand dollars how are we going to use that twenty thousand dollars we're actually to get it to the Expos there's my ear marketing you you both want some air fees and share this thing off right yes 20 grand it's not much it's not going to get you very far is it if all of a sudden you got an order for a hundred thousand of these what would you do um thank you friends no surprise there well actually the plan is I've got 150 coming in and then sell them and then yeah and with that money I can buy another 500 with that money I can buy another thousand the typical term for that's an excellent answer is cash flow I'm going to fund this from cash flow and that's an excellent answer Adam I think I think you're amazing when you're very understated in your approach I'm getting the impression there's a lot more to you than meets the eye I don't think twenty thousand dollars is enough um I'm not sure how big this Market is but I do spend a lot of time in the states and I know the skateboard Market there is just huge and I would I'd certainly like to help you get this into the United States and obviously by definition if you get it into that market you'll get it into a lot of other markets including Australia yes so I'm gonna offer you twenty thousand dollars for twenty five percent equity but I'm going to offer you another eighty thousand dollars loan to be drawn down to quickly expand the business and buy stock and that loan can be repaid as the business can afford it say over the first couple of years [Music] so I'm in thank you are you from the other sharks I'm gonna be read up with you and not look for anything too complicated so what I'm going to offer to you is twenty thousand dollars for fifteen percent of your business [Music] I'll make you an offer the offer is twenty thousand dollars for ten percent which is what you've asked for in addition to that a fifty thousand dollar loan and a royalty which is twenty dollars per board back to myself for the first thousand boards um I'll put something forward too yep I like having Andrew involved because of his American Connections and I think that because he lives there that that connection is important so I'd actually like to play with you and Andrew I'd like another 25 I'm happy to split the loan with him and go 40 40. but that would mean collectively we would own half the business so Adam's got to decide whether he thinks he needs to sell that extra 25 equity for that extra capital stay he's got some great offers he really has I'm with you Adam I'm with you Adam Steve um I I like you I think that you as Andrew said you're exceptionally understated there's a lot more to even discovered yet which is good but I'm gonna make these friends I think there's some great offers there that I'm probably not going to add a great deal to I wish you all the best I want to buy one I'd like to talk to you about some sort of customized sort of cool version to be honest yeah I've got some advice just to ask me because I can just tell you what I really think but getting two sharks behind you would be fantastic having a dual presence Australia and the US is ideal 50 is something you have to get comfortable with can't really give up fit for his hand for that type of money we'd be interested in doing 15 percentage you're negotiating I like that Adam no where are you with me and Naomi are we out of the picture we've made offers too yeah yeah I'd like to have two sharks lamb who wants to join in I'm happy to do it with Naomi I I want you to have the best for you so have you guys been together what percentage would you use one I said 15 percent and you said 10 so that makes 25 combined plus the 50k low 50 000 loan and twenty dollars royalty for the first thousand boards so do you understand that offer there mate yeah excellent and we've got here with Janine and with Andrew putting in forty thousand dollars for fifty percent and if you want to I'll still go alone at 25 and end alone in a lone wolf Andrew Banks what would you be more comfortable going by yourself or going with Janine see generally I'd rather go on my own and if I was just thinking of me and getting a return that's what I'd do but I'm also thinking of you I wouldn't object to Janine coming in because of her Australian infrastructure yeah but that's a decision you've got to make but you're the person that's giving up the most ground on that kind of deal so it's just something you need to be clear about yeah I'd be happy to work with you on Janine but not on that percentage I'd be more happy with like 15 percent foreign so you would prefer to do a 30 deal with the two of us and a 25 deal with just Andrew yes right what do you think I think we're both worth 40 percent and on that basis plus the loans you've got access to eighty thousand dollars minimum definitely bother me too much if you don't want to do the lane I'm happy with that but we do want to do the loan the reason I want to do the loan is I want the loan to power the value of my age I think we're just going to accelerate your business and we can't hang around we've got to get this product made yeah if this is the number one Christmas present next year this is all academic Adam yeah we're just planning whether we should be in a three-story building or a five-story building for head office now your offers looking better what's going on here John I think we're out of the car are we out at the moment you're focusing all your attention up there and I'm on the verge of stepping out because we're not getting any love at this end of the year no love at all I think the American Market of Jews have um American contacts or you've got I have no American contacts in the electrical skateboard area to be honest yeah having said that if this is as good a product as you say it is and we think it is a phone call and a connection to people in this space is going to get attention with your office said you won 20 dollars per board for the first thousand boards yes that's correct would you consider not doing the twenty dollars per board no I think there's enough risk involved Adam that needs a bit of de-risking Adam time is ticking by it's time to make money would you two guys can fit a 35 percent your counter offer is 35 for forty thousand dollars yeah for the two of us yeah is that are you you're going to accept that offer yes well done thanks very much what a negotiation very much and thanks so much for your offers guys what a negotiation stay here take care well done see you later Andrew has got awesome connections as a shark I wanted engineering's an added bonus so everybody excited it's going to move the company forwarder so much quicker 2 000 sales at 500 margin that's a million dollars profit oh yeah I mean that's going to be red hot I don't know whether that'll be a product that will change the world but we will sell lots of them and we will make money foreign [Music] [Music]

Channel: Shark Tank Australia

Views: 2,769,218

Keywords: best shark tank ideas, business, coatchex, 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, watchmojo, worst shark tank pitches, most successful shark tank businesses, best shark tank pitches, Full episode, Shark Tank, Shark Tank Full Episode

Id: 88jywXOnWBI

Length: 12min 33sec (753 seconds)

Published: Fri Sep 06 2019