"Your Investors Must HATE What You're Doing!" | Shark Tank AUS

hi I'm Jack come den I'm walking and I'm Sam we're all still studying at university but together we're revolutionizing our industry within Australia since we started in January last year it's been a bit of a wild ride for us how successful are you guys very success these jocks want to get involved and I hope they've got deep pockets yeah get ready for a feeding frenzy look at that focus first into the tank tonight a team of fresh-faced high fliers we've been fortunate enough to meet some great people throughout the process of building our company the Sharks are are definitely up there and yeah there's definitely a little bit of intimidation but I hope that goes both ways [Music] favoring Andrews market [Music] hi sharks I'm Jack : these are my high school friends University colleagues and business partners Sam Lewin sin' lucky Burke and Daniel mascara Tala today we're here asking for $250,000 for 5% of jar education which is a subsidiary company of our overall organization [Music] fifteen months ago we founded an aerospace company which has had great success and now we want to inspire more students and more young people to chase their dreams Joe education provides programs to schools which allow the students to learn through engaging learning we have professional resources developed by teachers for teachers to accompany our drone kits we also providing class mentors such as final year aerospace engineering students to make sure that it's taught in a way that the students will understand right now we we've launched Joe education last month and in our first three weeks of sales we've generated thirty-five thousand dollars of revenue so we're asking for $250,000 to expand our sales reach but to also expand our selection of programs within schools in Australia okay two hundred fifty thousand four five percent so you're valuing the business that are cool five million correct right Jack can you just make it very clear to us what the education is sure Sam's in head of education so our education product is an eight eight to twelve week long program we're targeting year five see year tens initially and the way we've developed it is to replace classes that they currently take in digital technologies right and the specific content in these products are we're releasing now is a build to fly drone kit we didn't pilot programs last year with schools in Sydney that were extremely successful that we generated income from just I just want you to clarify one other thing you threw in an interesting word which was a subsidiary yes I thought you might mention that so in January last year we found a jrss which is an organization that is focused on high-end commercial drone solutions so we have multiple high level contracts within that business to develop commercial servicing commercial manufacturing within Australia and we've also been having great success with the government and certain government industries to continue to grow those commercial divisions moving forward we're not looking for an exit in the holding company we're looking to go to space I own Jack you're telling us you want us to invest in an education facility okay and you're gonna isolate off the sexy part of the business which is the aerospace and all these government contracts and we're more than willing to talk about the sexy part of the business from our research it seems that the conglomerates are probably not quite the right fit for shark tank in Baker shop let bloody picture they might well you thinking conglomerates gonna be the Sheep that's a bit silly no no it's not necessarily that there's just certain things that we're doing at the moment that we don't want wearing we're sophisticated investors undoubtedly so we probably fairly had to know what we're going to miss out on and then maybe we can talk you into putting the whole thing like that might be a conversation we could have behind the doors if that was something we wanted to look at well let's get profit then because we think you know if you can actually even make a profit so you're talking about profit for the overall organizers the other one's been going for 12 seconds it hasn't just been around for two seconds Jai aerospace has raised over 2 million today oh yeah that's raised what's the profit we've made about two hundred and eighty thousand dollars in revenue since we commercialized our products in Jos base and of that I'm our profit margins are very good we've gone above and beyond in making our company moving it towards a proper organization introducing organization charts and expanding our board with people partners ex-generals from the army and also a political expert from strategic political counselors helped us build our business how old are you jack twinset and you're all about the same age I guess like 922 you guys should really have black suits and should be concealing weapons you're from another planet I mean what kids of your age had political consultants you're entering the hardest market ever bloody schools yeah it's very it's definitely very difficult industry to operate in no doubt and it's a that's not lost on you might as fantastic job it's a strange sales model compared to the industries that we operate in in our parent company I'm actually really worried about you like a focus to be honest you reversers must hate what you're doing you've taken 2 million bucks right and you're now gonna be focused on an education you're a business out there doing top-secret shooting in the drone space right I don't know what you're doing Shepard told us which i think is quite rude personally so why is it your defocusing down here education has been something we're extremely passionate about keeping passionate what you want and right social causes from position of strength raising two million dollars but isn't a position of strength position of strength if you've got two million bucks from customers do one thing well yeah now you better do two things poorly I'm guessing I would respectfully disagree and I understand it on a commercial case where the where your thoughts are coming from but we do think that education within Australia in the world is a significant problem drone business yes do you think I'm also gonna cure education I understand I'm saying I'm saying that it has the side benefit of increasing our skill base for aerospace but on top of that it has excellent commercial backing behind it just assume we've been in business before - Rob if I understand how these things work just assume that for a second - if you don't mind maybe we've been there before and maybe this is good advice just maybe think about that right because you come across as at a derogate in the way doing things at the moment I'm not trying to what you're doing it successfully Richard Branson has moved laterally 340 come Richard Branson is a billionaire nobody wants right you really want to compare softer Richard Branson oh let's get in this and we come out can because that's the stupid comparison to make right yeah understand who you are and where you're at the top you're exceptionally capable blokes make jar aerospace the thing you'd put all your energy behind get filthy stinking rich and then go on fix education well that's how you're going to do it properly and not go broken boats I'm out thanks for the advice guys just walk me through the potential so 10 to 15 K per programs sold what's going to be your profit margin on that on a program sold to one school at the moment our profit margin which we are sort of reluctant to talk about due to our market and I think if you were to invest it would be silly for us to talk about but I can say that it's obnoxiously good yes is there a reason you didn't offer us equity in the holding company I mean if you were valuing a subsidiary business which has hardly got started valuing it at five million that's almost a bit of a game I feel a bit like you know you're the cat and I'm the mouse I don't know whether you've got loaded revolvers in there somewhere hidden but you know it does feel a bit like a hijacking so what's your real motive for being here the real motive being here is to get our program into every school in Australia and there's a huge commercial value is that you wanted some visibility in publicity so you don't want an investment no we do want investment in education and we've been talking for over three months about subsidizing it because we can't have the two brands intermingle but separate businesses long-term okay guys you are super super smart on so Jack you've got lots of answers yeah but the way that you valued your business at five million for a business that is liquid I'm agreement it's been in business for two months I'm not sure how and when we're going to get a return so I wish you well but for that reason I'm out [Music] guys you're young guys and you're having a go so well done you know you unfortunately put it supid ly obnoxious value on the hope that you are trying to paint here today I would have loved have heard more about your drug business you're young you don't know what you don't know and therefore you just gotta plough on you'll be successful I have no doubt thank you but I'll be happy yes you have an incredible amount of poise and intellect for people of your age it's incredible and you know I you don't make me angry I know some of my fellow sharks are gonna be cross I mean you make me smile because I hey I listen to you or journey and I think it's amazing what you've done so far I was out you know probably half an hour ago but anyway I wish you well and let us know how you end up I'm sure you'll be rich and famous one day Thanks [Music] I think you're a bit harsh but no no no that's not gonna be stepped into rally that probably got a great aerospace business they just sent me a bit of fun good innovation they did not come here for an investment no miss a game that's what I said I felt like a mouse I thought I was a shark little mouse your mouth but that was keeps your mouth you're just a boy just a toy boy without education business right now it's profitable it has a pipeline and it's a commercial opportunity that any businessman would be silly to drop political good salt I need a couple of political consultants you saw what it wrong way she's maybe [Applause] [Music] [Music] [Music]

Channel: Shark Tank Australia

Views: 1,448,130

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, aerospace technology, education, hate

Id: ni1G30z99VU

Length: 11min 45sec (705 seconds)

Published: Fri Aug 30 2019