The U.S Military NEED This Portable Washing Machine | Shark Tank AUS

first into the tank a melbourne innovator who's hoping to make a clean sweep with the sharks hi my name's ash newland and i'm the creator of the award-winning scrub wash bag i'm here seeking an investment of 178 000 for 8 of my company now let me tell you a story about how i came up with the idea for my product i was taking a break from my job as a patent attorney to travel around africa and climb to the peak of mount kilimanjaro i realized that with all my cold weather and camping gear i'd only have enough room in my bag to pack a couple of changes of casual clothes this posed a real problem for my trip but fortunately it was a problem that led to a solution that has not only changed my life but it's changed the way that people can travel today the solution was packing this the scrub wash bag it's the world's smallest and lightest portable washing machine for travel camping and sportswear weighs less than 145 grams it requires no electricity and uses minimal water how does this nifty little device work well the scrub wash bag has a secret and that's on the inside where we have hundreds of knobs and these function just like a washboard at its most basic form that's what you can think of the scrub wash bag as it's a washboard in a bag and this enables you to clean your clothes in just a few minutes in a few simple steps so you need to do is add your water and cleaning liquid close it up rub from the outside for a few minutes rinse and hang to dry it's that easy who wants to check one out be close yes please love to does it fit jeans in it is it that big you can just fit a pair of jeans in it uh because you do have a washboard surface on the inside that's really what does a lot of the cleaning so with a pair of jeans you really kind of have to move it around a little bit in the bag i have traveled from when i was 21 to 27 it was i wish this was around then bloody l so just confirming that's 178 000 for eight percent yes that's correct what's the rrp of the product uh in australia it currently retails for 64.95 including shipping uh in the us at the moment it's uh 55 us our approach so far we initially crowdfunded and what that meant is we went global right off the bat as soon as we announced the product gizmag and gizmodo ran stories in probably well over 100 countries and we had pre-orders of our product from i think over 50 countries so for us it wasn't ever an opportunity to just try and grow a test market in australia and then expand we were just thrown in the deep end globally but that's worked really well for us and definitely spread our risk and so how many shareholders have you got please it is just myself you're 100 yes that's correct as an investor how will i get my 178 000 back and plus my incredibly amazing return that you will deliver for me uh we're gonna be in a position i feel at the end of this financial year that we will contemplate looking at paying out dividends i found the word dividend to be quite novel businesses i don't feel like a lot of betterment of that here so you're talking about dividends and then not you're not paying yourself for salary though at this point in time no no that's right so how are you supporting yourself yeah i was fortunate enough to do quite well in some speculative mining stocks back some years ago so that's what enabled me to fund the business without um actually having to go to the bank i borrowed a bit of money off the home as well that money has been paid back already so the company is debt free that's awesome are you single uh no i've got a long-term girlfriend all right because i've got a daughter i was wanting to introduce you sorry that's beside the point is she headed over uh no she's back in melbourne yeah so tell us about the patents you've got patents across the globe it's actually patented in australia and new zealand patent pending in 52 other countries have trademarks either registered or pending in over 42 countries so we're definitely looking at being around for a long time have you thought about selling this to armed services that's actually one of the medium to long-term goals particularly to try and get it into the u.s military they have 1.5 million active personnel currently standard issue for them is a sea lion dry bag yeah i've seen it if um the us military came and said look can you modify this it's still fall within our intellectual property and we could custom make them so ash you've got money you've made money out of stocks you're a smart man you're an intellectual property lawyer you've got patents and trademarks up the yin yang why do you need us i see myself being able to take this product to your 2 million revenue a year type level but i think having someone who's very experienced in business and who has been there and can open some doors we can just really get well beyond that mark which shark did you come here wanting to get well i think all the sharks uh oh you guys are all incredible and what you've done in your respective industries i think any one of you would be able to assist me taking the business to the next level you're such a smoothie aren't you yeah [Music] really product is ingenious uh the market globally as we all know is enormous um i'm not an overly an outdoorsy guy so it's not a product that i connect with but it's a business that i know is going to flourish but i'm out yeah thank you for consideration unfortunately with business they're like buses there's always another one coming and there's always another deal coming so i'm going to reserve my cash for something else but i wish you well and um you know as i said you you're going to do do great but i'm out yeah thank you i'll tell you where i'm at mate i'd like to give you an offer um i round up 180k cause 178's just impossible to say um for uh 15 of the company and i've got numerous contacts in the military i'm on a board with a former head of army vice chief of defense forces the chairman so i can give you some help into the inroads into the military sector there but i think that uh this is uh this is an opportunity i'd love to help you out on so there's my offer one 180k for 15 [Music] okay thank you for the offer so ash this is where i'm up to i love your product i really understand this market and also given my background and where i've come from being in the travel industry and uh also what i'm doing now with the online retail i see how much value that i can add to you [Music] so um what i'm going to offer you is 200 000 for 20 of your business okay thank you for the offer so the moment you got two offers one eighty thousand fifteen percent which is obviously one point two million dollars basically a one point two yeah and two hundred thousand for twenty percent so one's got more cash but the other one's taking less equity so that's two of them [Music] janine um i will make you an offer what i uh what i can offer you though is i think with with the journey of business you need support you know emotionally as well as you know solution based marketing and branding i'm very strong at we've created a brand boost juice bars had 95 awareness in our user in only five years there's no other people out there that can really do that i have got incredibly great contacts in the army his name steve which i should be able to tap into so i am i'm going to offer you the same valuation as steve which was 1.2 mil so i'll offer you 204 000 at 17 okay thank you for the offer well done ash you've managed to reverse the show and now they're all pitching to you so three offers on the table where do you stand [Music] ash newland has invented the scrubber wash bag a washing machine for travellers and he's already cleaned up with three sharks so three offers on the table 180 15 thousand twenty percent from naomi two hundred and four thousand seventeen percent from janine where do you stand ah well they're all extremely good offers and i guess just like to ask if there's any flexibility in them or whether any of you would be interested in doing a partnership with one of the other sharks if you think that they've got a complimentary skill that can also help me and also you it's on the edge for one of the care in some respects for for wanting to share it does that there are certain combinations of sharks that are left in the game that make more that makes sense it naturally suits itself to a twos rather than a threes is the first place i'd go otherwise i think none of us will really care in some respects [Music] thirty percent if we did take ten each would that be feeling too steep for you or is that something you would consider it'd be on a suitable valuation uh yes honestly on the valuation that we've basically all come to yep so we go 10 each 120 each 120 each 10 each so that's 30 percent for each 10 percent it's 120 000. so you've got 120 240 360. i think the most i could really go to is around the 20 so it probably just leaves room for for two sharks what are you gonna do i think i'd like to go with steve and janine i think steve with your military contacts you'd be a great asset to to have and janine of reggie book in particular and i think um hopefully you'll be as good a mentor as as you've had to get you where you are congratulations thanks here's the one another congratulations thank you name is not happy thank you it's just business well done thanks guys good luck thanks looking forward to it oh well there was blood in the water silly man silly man does he not know what he was missing i think naomi needs to turn around i think there's a bit of a bite in your dorsal fin [Music] you

Channel: Shark Tank Australia

Views: 1,880,994

Keywords: best shark tank ideas, business, mark cuban, money, most successful shark tank pitches, rejected shark tank pitches that became successful, rejected shark tank, shark tank episode, shark tank pitches, 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 2020, us military equipment, military arms bag, military grade, army officer ranks, Hierarchy Explained

Id: cq4kRw__CVc

Length: 13min 17sec (797 seconds)

Published: Wed Oct 21 2020