Episode five of Shark Tank brought us a whole range of exciting ideas and the tank teemed as the sharks circled. We saw pitches from Paleo Café, PitzStop, BodyPeace Bamboo Clothing and Friday Beers, and got caught up on how Hegs have the international market pegged.
Lots of fish - scalability through franchising
Jai and Marlies tempted the sharks with tasty treats from their business Paleo Café. They secured investment from Janine, who will ‘bring a juggernaut of systems and processes’ to fuel the café. We heard Paleo Café talk about franchising their business. If you want to expand your business, but aren’t interested in borrowing capital to develop, franchising could be a good option for you.
Friday Beers were dreaming big and looking at expanding from Brisbane operations to a national scale. A key consideration at this stage in the business life cycle is your intellectual property strategy. If you’re going to scale with franchising, you’ll want to include all your intellectual property (IP) in your franchise agreement, along with how the franchisor should use the IP.
Big fish - global scales
Anna Wash from BodyPeace impressed the sharks with her pitch and secured investment for her range of bamboo clothing. She wasn’t bamboozled by Steve’s ethical question of the evening – do you want a big business, or do you want to save the world, stating she’s aiming for both. Anna is operating her business on a global scale. If you’re about to launch globally, you can start by answering six simple questions.
Since featuring on Shark Tank last season, Scott Boocock from Hegs pegs has seen a massive 800 per cent growth rate over the first year. Hegs pegs have now launched into 22 countries and been translated into 12 different languages. Shark Naomi shared how privileged she feels to be part of an Australian innovation story.
Safe fish - design protection
Michelle and Troy put their blood, sweat and tears into their unique design, introducing the sharks to PitzStop underarm sweat guards. If you’ve invested sweat equity into your own design, you might want to consider protecting your IP. Find out more on our designs page.
Until next time
Episode six of Shark Tank airs 8.30pm Wednesday 8 June on TEN. In the meantime, never miss a pitch with our live updates and wrap-up blogs.
- Intrigued about scaling through franchising? Quench your thirst for information and read up on Franchising and IP .
- You might also want to check out our blog from last season on how IP can help make a business scalable.
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