Three-way Bidding War Erupts Over Custom Orthotics | Shark Tank AUS
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- Опубліковано 4 жов 2024
- Podiatrists Rachel Ferguson and Marie Ann Lewis spark a three-way bidding war for their Synxsole orthotics. The pair seek an investment of $100,000 in return for a 22.5% equity stake.
Company Website: synxbody.com.au
An international sensation, Shark Tank AUS features entrepreneurs pitching for investment in the Tank from our Sharks, five venture capitalists willing to invest their own money in exchange for equity.
As Seen On Shark Tank Australia Products: amzn.to/2ZJBbyf
Shark Tank US Products Collection: amzn.to/3bMNjmI
#SharkTank #Synxsole #Orthotics
My phone is at 1%. For that reason, I’m out.
😃😀😀😀😀👍👍👍
Huh?
This made my day 😂
😪🤯😇
⁹
Most people binge watch Netflix.
I binge on Shark Tank.
10/10 content.
Food to the SOUL.
I do both 😂
SOLE
And its a great way to stumble upon your own business idea.....which ofourse probably already exist after a google search 😂
me too...very uplifting.
Me 3
For Naomi it's always far too early... and when it's well established it's something she can't afford
Haha
She is for the shark tank what Jenny Campbell is for Dragons Den
Just there to say she can't or won't
Feel free to invest your own money. Show Naomi how it is done.
Lol so true
She needs to be replaced. Haven’t seen her invest once
Gotta love Shark Tank Australia where everyone is happy no matter who is doing the investment, always congratulations on all parts!!!
Apart from Naomi she can be scary sometimes
Are you sure? Two episodes ago Steve walked off set swearing his mouth off LOL
Your just extremely full of yourself. You clearly don't watch the show when Steve talks
True!!!!! In Shark tank in America they all get offended, angry, and personal
Ethan K one episode and one shark vs almost every episode and all sharks in Shark Tank America😂
7:03 *Me:* My god, Naomi is going to make an offer?!
7:11 *Me:* Of course...What was I thinking?
These women are amazing. In practice only ten years and the have two clinics with podiatrists on staff where they only have to work two days a week. Phenomenal.
My name is Naomi, and for that reason, I’m out.
I just started watching Australian Shark Tank on you tube and EVERY single clip Naomi always says she is out. Is she like this normally?
More often than not. I don’t get it.
I just started watching this on here as well and the first thing I noticed was that she invests more than any other shark. Her and Steve and then Janine and then Andrew, John and Glen the least.
Andrew and steve are the only guys in Australian shark tank who know how, where and when to invest money
And Glen
Oh yes! My favorite episode was with a guy that created some magnet protectors to put on your car if you want to go to the bushes. I have never seen Steve, Andrew and Glen that excited about the product. They knew it is going to be a hit. And probably first time I have seen Steve and Glen smiling like that ahhaa
It's because they invest based on the product and the people behind it, they're willing to work as partners while the others only want to be investors and want to avoid the leg work.
Glen
@@shajanmiah5063 The women seem to have lost the original mentoring newer entrepreneurs and 100% profit.
The lady in red: I'm out because, well, I'm always out!
I worked for Tradehome Shoes in South Dakota. I learned very quickly that insoles make the biggest difference out of the majority of shoe accessories.
It helped tremendously with my sciatica when I was still growing and the pain was basically too much for me to stand or sit for 1 continuous hour. Having them fitted properly is very important, and changing them every year is really the best, which is a small investment at 130 per year!
It’s not a bad deal. The high percentage keeps Andrew interested enough to grow the business then they can always buy back equity. Also, the only thing I could have recommended was negotiating a drop in equity once Andrew made his money back or if certain annual projections were met.
If the sharks agree to sell equity back, then they're basically working for free. They have to keep skin in the game for longevity. Otherwise, it's simply a loan w/o interest.
@@B_Bodziak they make money on the percent they sell after the business grows tho? Andrew got a deal on 45k valuation, so even if his equity drops 10% after the company makes a million he gets 100k
Steve: “ I reckon your both ripping them off personally” 🤣🤣🤣
If all of them make an offer, who wouldn't take Andrew. I mean he's easily the smartest businessman among the sharks.
And just the nicest in general
100%
Well Glen has the most value. And Steve would be a Great asset. But I
Totally agree
I wouldn't, I'd go for Steve. It's easier and more efficient working with straight forward people like him. And being straight forward, he'd always give the most genuine advice, no sugarcoat or anything. He will praise when something's actually worth praising and will criticize when it's worth criticizing. The best help you can provide someone growing is being to the point with them.
Haven't seen the video but I can say Naomi won't make a offer
Feel free to invest your own money. Show Naomi how it is done.
You were right
@@Locutus and join an investment TV show too I'm sure.
First rule of negotiations: never ask 'is there any room to negotiate' because the answer is always yes!
You mean 'no' in the end
Gouenji Gouenji thé people you’re negotiating with will lie and say no, but the implicitly true answer is obviously yes, everything negotiable
Wrong. The first rule is to start negotiating immediately. Don't ask. You'd never get a "yes" of you ask.
@@mayowa_adegoke That's very true, excellent way of rephrasing what I said lol.
@@mayowa_adegoke This is fair. So many don't make a counter offer. All should.
Use a similar system in the UK, I went to see a specialist and he cut and gave me a pair of insoles and it made my back pain go away within a few weeks, I use them everyday.
If these are as good they should do well.
@7:15 I always love how Naomi says I'm out. Her "out" sounds so Aussie with the h sound in the end.
I'm actually on wheelchair so for that reason, I'm rolling out.
I had an awful heel spur. My Son's Ortho Surgeon gave me great advice. Never let anyone say they can fix it surgically because you will wind up with nerve and tendon damage. Next he said to find shoes not inserts that helped with the pain. I did and found Goghs by Fit Flop. They aren't cheap but you can find good sales. I have yet to wear a pair out. They are sized by German standards, so you buy a size larger for US. I have clogs, boot, slippers and sandals made by them. My oldest pair is 10 years old and are like new. I hope this might help someone as well.
minimalist shoes are best, no need for all that cushion and arch support it weakens your feet. try to walk barefoot while you're at home.
Phew! I thought Naomi was going to make an offer!
😂
😂
😂😂😂 that's a good one!
"This business looks absolutely astonishing. For that reason I'm out"
Hey bro! U here too 😂
Love the way the two women beam with delight when Steve starts hitting them with the compliments.
Andrew straight down the middle...honest, ethical, wise, good business sense....a Great White Shark among reef sharks
I've been to Marie's clinic, and she's a fantastic lady who has helped me with her invention of Synxsole. I've always wanted to see this episode because she sometimes mentions it!!
From what I know as well, it's going very well for her, and it literally only takes 2 or 3 sessions, then you can move onto custom-made orthotics if you'd like.
Naomi: So Janine sneezed funny 3 episodes ago, so for that reason, I'm out.
i am a guy from india, 2 months behind on rent, taking a dump in my job interview, and for that reason i'm out!!
Hey, my advice is pop to the bathroom next time instead. I have found this rule to be good in the bathroom
Hi!
I am Mexican and I am here because I heard that Shark Tank Australia is very good and I confirmed it, it shows how prepared and friendly they are.
It is friendly, unlike the US and Dragon's den they are nasty and brutal but fun to watch lul
Lovely duo. Highly respect the politeness of AST Sharks. Love from Nagaland
If their business gets big, the long term will regret not taking Steve's higher price to retain that extra 10% equity.
I think the girls are very smart to choose Andrew's offer.From the beginning Andrew is the only shark who really offer 45% share for $100 k with no other condition. The problem with Steve's offer is that he wants a lesser % of shares but the royalty is a burden for the enterprenuer who has big expense for their company
@@rizalukman7982 Yeah but if the company has potential, long term equity is valued higher than a royalty
@Utube Allday they are still early though. Only 80,000 sales in 2 years. 13,000 of which they just received. They can't afford to pay him a royalty on 19,000 profit. Especially when it's two of them splitting it.
@@rizalukman7982 I thought Steve's deal was good, I would have taken it. At least modified it, so that it was a lower royalty, for a higher payback.
@@Locutus you are looking at it wrong. the question is what will the company be worth. it will be more valuable with andrew, he has the american market covered. their 55 will be worth dar more than the 65 with steve.
As someone who wears custom made inserts it’s not the inserts that are expensive it’s finding bloody shoes which allow you to fit them in! Can’t buy any cheap shoes because of it!
The hell? This version of Shark tank is so much nicer! It's refreshing, actually.
I always say American shark tank more entertainment decently polite
Australian more politeness decently entertained
Dragons den: I'm out
The drive start ups have in Australia is truly inspiring! I would do business you all anyday!
Andrew did act smart by selling what properly what he will bring on board and being quick to let them believe 55% wasn't a bad deal for them.
I’m surprised by the dude on the far right, he finally made a deal 😂😂😂
I am a former executive of the world's largest bank for most of banking history. And I shudder at the way that two passionate and largely unknowing and sweet ladies. who have a great product, are being taken advantage of by sharks. I thought that Andrew was a shark, but I did NOT imagine that Steve would be a much greedier shark, and hide behind his command of calculations. If these ladies went to our bank instead, they would have much better loan products offered to them than Steve has, and then keep 100 percent of their equity.
I realize that they are a start-up enterprise, but the potential is great. Having said that, I want to blast the sharks for making "potential" sound like a bad word, when it is NOT. Sales alone is NOT king. Potential is also what these sharks are looking at, but PRETEND that they don't. That is all they really look at, more than sales, for why would an established brand, with established sales go to such greedy people for capital? By the very nature of start-ups, one can has to put much weight on potential.
I am not undermining the business connections and interests that these sharks can generate for start-up businesses. But how I wished that they become less shameless in their greed, and stop preying on people who they were like, when each of these sharks, were just starting out themselves.
God protect enterprising entrepreneurs from predatory and greedy "investors".
The show is literally called shark tank
Andrew is def my fav, he is just the most real and authentic
The kindest by far.
*sigh* This isn't anything new. Dr. Scholl's has the same exact thing at $10-15 at any Walmart and they last years... I've used them ever since I worked at an Amazon Warehouse, and now can't really wear shoes without that extra gel cushion. However, there's literally no difference between the competitors... its like slapping a new brand with a new price tag but selling the same thing.
First time I saw Andrew so serious over those comments over his deal
No one:
Synxsole: Now that’s money 💰 👈
"And for that reason Im out". Just because someone said 1000 years ago, wear Red because its a strength colour, does she really need to continuously wear Red.
Australian Sharks are Astute,Sharp & Friendly.Love this Show!
I love how as soon as they mention money they SMILE
Andrew think about the risk and Steve made win-win solution with the reasonable offer
I wasn't the first to comment and for that reason I'm out.
Bro what's up with the Sharks saying their out because its early. Isn't that the whole point of investment before IPO
I love shark tank but these 2 don’t have a clue I have flat feet and I’m hyper mobile and double jointed and I need custom orthotics that are moulded and 3D printed and before I had them I was using insoles from shops and pharmacy’s you can’t just make an orthotic and make it an equivalent to a custom orthotic made from a scan of your foot.
Feet make me nervous and for that reason I’m out.
She could’ve at least negotiated to 40% in my opinion
Yep easily..
I never went to the doctor about my flat feet until 2 weeks ago. I bought regular insoles In the store and had extreme knee pain within two weeks. Unbearable knee pain I might add. I couldn’t stand up. I went to the doctor and he told me to throw the insoles in the trash. I have flat feet from birth and thought insoles help it. I was completely wrong. I have to get custom made shoes to help the foot pain and correct the way I walk. These insoles sound fantastic because the custom made shoes are $200-800 USD.
Watching Shark Tank Aus one after another. You guys are awesome!!
I'm from the US, but I love this show. I need to go visit Australia one day💪🏿💪🏿
Your welcome anytime mate
Sorry, no knitters allowed
I spent $800 US plus on a pair of orthotics that felt literally like cement. The ones at the drug store or sporting goods are useless. I’d try these in a second
$800?! Were they from your Dr? That's insane
Janine's wrinkle cream stopped working... She aged about 15 years since the last series and looks as much of a granny as Naomi now! Crazy!
People age, you're just jealous
Stfu
Actually funnily enough this is the first season of Shark Tank Australia. She got younger looking later on the show. I wonder how...
Still looks good though
You should check out Deborah from Dragons’ Den. The difference from 2006 to now... it’s huge! 😳
Crazy how all they have to do is give them access to some contacts and they get half a persons business.
It's not just contacts but their own services, i get your point though it's crazy how much they value their involvement, but I guess we can't put a price tag on experience and expertise
@@ashwinitakane7417 the experience and tools are half the battle. Ive been back and powerlifting for 3 years and I always get newbies coming up and I help take them under my wing, because I see a lot of them that would otherwise get seriously injured. The experience is literally half of everything.
@@solidsnakeandgrayfox for sure, they have been through their own struggles and problems and it all adds up in the value of experience, experience is life's ranking system.
Surprise surprise Naomi didn't invest. She's becoming ridiculous now. Never invests and when she does she wants a big chunk.
Feel free to invest your own money. Show Naomi how it is done.
@@Locutus give me her money & watch me role. Ha absolute no need for shitty comments like that. Its a show I have a right to make an opinion on the ppl who are given that platform. I dont think she should be on it due to a lack of her investing. Period.
@@aqibahmed1170 Donald Trump should not be president for U.S because he have blond hair. Period.
@@Locutus lmfao
Naomi's middle name is "I'm Out"
Why does every statement sound like a question?
With an upwards inflection at the end?
Like this?
“Your sales aren’t enough to peak my profit interest’ Im looking for a quick investment for massive returns, so on those grounds I’m out.
Yes, the whole premise of being mentors while making a return has seem to gone out of the window.
Since Andrew made an offer, Naomi had to be out!
This is the first time I see Andrew investing
Does anyone know why the USA Shark tank is more aggressive and harsh while the AUS shark tank is soft and gentle?
Basil brush reference there.. "Boom Boom"
I was worried that Naomi was going to make an offer!
What a wise decision to go with Andrew!
Idk... Steve's price might cost a bit more, but they would keep a bigger chunk of their company with his offer. If the business gets big, the long run would regret not taking Steve's offer.
@@cidguy im not sure Id want to partner with an investor who gets his equity for free on my business when theres Andrew's offer still on the table
@@SalaarArifKhan Irony is deals which made history in shark tank are always associated with steve one way or another. Follow up speaks a lot to me rather than just impressive personality and USA market since steve took his partners product to USA as well.
Shoplifter Steve typically welches on almost all the deals he snares weeks later. He finds obscure reasons to renege. Mark Cuban did this so much, they threatened to drop him from the USA Tank, so Cuban stopped this practice.
Cuban is reported to follow through on less than 30% of the deals he makes.
@@B_Bodziak I used to admire Cuban till I saw him be a uber jerk on each & every single Tank episode. Once a month he would do something really nice to trick us and camouflage his actually being a true nega-jerk.
I’ve watched shark tank for years. This might be the first product I actually buy when I get the chance to. Fix your feet you can fix your spine not completely but just enough to take away some pain.
Have a look into barefoot shoes and podiatry. Orthortics fix the symptoms but not the cause.
They quoted that 60% of people have foot pain - there's probably a cause for that!
Barbara: Oh, this is Shark Tank Australia. And your pitching a business that has a potential to change lives and become huge in the future? Well, for those reasons, I’m out.
Watched to much Shark Tank Austraila, How do I know ? Well, I tried to under price my own business !! ;)
They actually did really good. i believe they made about 3 million
Omg, Steve. 🤣
“We’re arch enemies now!” haha
I can't sell it through my gifts stores so I'm out.
Low sales. 25 years ago I was office manager of a Custom Orthotic business with one location in a city with a 1Million population - our first year sales was $350,000
I think that the Lady with black hair is how Janine would have looked like 20 yrs ago..!
@Victor Murat and for that reason, shes out
I never knew there was a shark tank outside of the USA so I guess I better start looking at more areas
wouldnt mind seeing them both on a certain something video website
These sharks are so much more respectful than the American sharks. There’s no “20 second shot clock” or “answer me now or I’m out”
True
How does one go about getting a crowd funded investment for a business?
I had mine professionally made by a podiatrist and they cost $450.00 and they hurt my feet. How is this any different? Mine were made to fit my feet and body specifically.
But they didn’t explain how these insoles are different from the ones they tossed on the ground.
Barbara phoned in to ST Australia. She says, “throw another shrimp on the barbie and… I’m out”.
Can’t say I love shark tank.
But I can say I love shark tank Australia.
The Sharks are so nice and cute. That changes my perspective on sharks in general.
''.... you're the best. ''
I guess Steve purposely makes such offers so that the people who seek investment take the counter offer.
i didnt understand steves offer, cud you xplain
@@rajatsinghchaudhary2946 Steve offered 100,000$ for 35% equity in the company, plus. 10% royalty per unit sold until he is paid back 110,000, at which time the royalty goes away and he just has the 35% ownership of their company. Basically Steve said I’ll invest 100k for about 1/3 of your business, and you pay me back 110k … he structured the deal to where they would pay him to own part of their company.
I dont get it, orthotics need to be moulded /casted to the foot..and we in Canada have Dr. Scholls in the retail pharmaceutical market which does exactly what they are saying. You stand on a pad and the computer suggests which one to purchase if you cant afford custom orthotics
Company is doing good, they got a commercial as well
I just don't understand what they patent is on.
Why everyone once they hear they got an offer have that stupid smile on their faces. You nothing but flys for these guys who basically are just toying with u
Great job for them! Hope they have a successful future!!
And now synx sells on amazon and estimates 10-15 million a year
Really? When I search it on amazon its not even listed
Thanks for spoiling the interest in it.
“This is an amazing opportunity and we can’t thank you enough!”
“...okay. John?”
Lol
what year was was filmed in? she said by 2015 bla bla, so meaning it was filmed before 2015
I thought she said "Podiatrists from Earth."
🤣😂your comment cracks me up!
@@trulifrea8073 Haha, thanks!
@@crackerjackrappr I dare you to randomly place this slogan...anywhere...it could be considered planetary galacticist, do we trust the healthiest feet as the leader?
"Hostoe takeover" by the 👽
Hi fives, grooming mate, grooming.
Never trust anyone who says
"Shake a leg" but "pulling your leg" is just corny?
I guess that either Naomi or Andrew need to be out, so when one makes an offer, the other one has to be out!
"Bidding war" indeed. Gotta love the clickbaits.
Hardly a bidding war was it?
So they want someone to buy a retail product that doesn’t quite work and then since they already spent money, they’ll hopefully go to a professional for customizing. They said it takes 2-3 visits to get it right. Product cost + office visits + whatever insurance pays means the cuts will end up spending just as much time and money as any other professional orthopedic device when they thought it’d just be a quick pharmacy buy.
Thats any orthotic in any business. Every foot is different, its unique, i can understand why it takes multiple visits.
Outerhavens gaming I get that but they’re attempting to put this in retail places intentionally so the customer feels like they’re buying a cheaper alternative. It’s deceitful
They're on track to reach $10 million sales within the next 2 years. They are listed on pharmacy websites all across Australia. Fair to say it's been a successful venture so far and great investment by the shark.
Fusion X I’m sure it probably did really well
Arch enemies ? Can someone explain what Steve told to andrew in the end ?
Dam no counter, these girls got eaten alive in the tank...
@Rudra Pratap Singh oh no way. where did u see this?
I like Andrew investment style approach