SWEET MICKIE

Sweet Mickie are ‘taking the Mickie out’ using bikkies.. With cute and sassy puns, the yummy Golden Ginger cookies and Vanilla Short breads suitably offend, make you laugh and comfort the brokenhearted. And with Christmas just around the corner, I can imagine a lot of offices will be seeing Sweet Mickie cookies stamped with personalised messages.

I love the concept of Sweet Mickie. Emma has a cheeky sense of humour and the customers not only love the fun of her cookies, they also love the Ginger cookie recipe that yes, her grandmother created.  As a side note, I can honestly say that in generations to come, my grandchildren will never use the words ‘my grandmother’s own cookie recipe’. In fact I have a mission to create a scone that actually rises.. But I digress..

Now Emma’s grandmother’s ginger cookie recipe is delicious, despite the fact that Steve’s kindly shared that it makes him fart. (Gotta love Steve’s over sharing!). The margins was not great, but the customers love them and if we can get the margins right then it could make a great business.

Since filming, Emma has already secured a major retailer. Like most start-up businesses, Emma’s biggest challenge is to set the business up to scale and get her out of the kitchen.

Emma is getting there, she is a very smart cookie… (Corny, I know – but it’s true)

 

BUCKLE ME UP

Buckle Me Up is a wireless seatbelt system that links to an app and alerts the driver (or anyone else) when a seatbelt has been unbuckled at any time throughout the journey.

There is no question that if this product can save one child then it is a product that should exist..

New cars are made with this technology already installed, but many older cars do not have it and this safety device could certainly give piece of mind to the driver of any family car or school bus.

I was concerned about the quality of the product, but I am sure this can be sorted out.

There was interest from the sharks.. that was until he told us the set up. Basically he set up a separate business to take on all the risk but because the business did not own the IP, you would get no upside. To top it off he wanted the business to pay a 5% royalty on sales.

When doing a deal you have to position yourself in both chairs, the seller and the buyer and it has to be a win win. This business was a win for him and a lose lose for us. Clearly this was not a business that was of interest to me.

My philosophy in business is keep it simple and this was not simple.  Not at all.

He should have taken Steve’s deal.

CROOKED COMPASS

Crooked Compass is a boutique tour company that specialises in small groups really immersing themselves in the culture and activities of the people and places that they visit. They aim to find new and unique experiences that are not on offer through other tour companies.

I am a traveller at heart, so this business was of real interest to me. Lisa was passionate about what she does, and despite the fact she did not on first appearance look like a massive traveller, she clearly has a real passion for what she does. Lisa was very impressive.

Lisa was all in. Like myself, Lisa sold her family home to start the business. Often to make a business work you have to be ‘all in’.  She has the right attitude.

Often in business and investment, you are looking for ways of leveraging other businesses that you may have.  Steve has a business called Travel Shoot, which is a great business that takes special photos of you and your family whilst on holidays.

Crooked Compass is a great little business and a way to grow a business is by leveraging synergy, but despite the synergies, Steve could not get there.

It was not scalable enough for me but I wish Lisa all the best.

ONE TALK TECHNOLOGY

One Talk Technology create talking posters that share messages (in various dialects) about healthcare to remote Indigenous communities.

Anya had a background in marketing and branding, so her idea would have been great….BUT I personally think she may have missed the boat.

We are constantly looking at ways of doing Point of Sale or posters better, and where POS are going is toward digital screens. The prices have dropped considerably in the last few years so in fact her cardboard version is nearly the same price as a digital version.

In the end of the day, if you do not believe in the future of the product, then you should not do a deal.

This was not for me….

 

The Shark Tank Finale is next week at 7:30pm Tuesday on Network TEN!