Categories
Television

Shark Tank SA Episode 12 Summary

Shark Tank SA wraps up on an emotional note!

Over the past 12 weeks, a total of 17 partnerships were struck between the five millionaire investors and everyday South Africans who were looking to start, grow or save their businesses. These deals totalled many millions of Rands. Throughout the season, viewers were treated to drama, laughs, awkward and heart-warming moments, and in this week’s final episode of Shark Tank South Africa, the last two deals were cemented in the tank, amidst some seriously emotional moments.

Vincent Viviers and Enrico Ferigolli came into the tank with their innovative app called “Bottles”. Quite simply, “Bottles” is a service that delivers alcohol directly to your home in under 60 minutes. All you have to do is select your location, browse the menu, choose your items and check out. Some Sharks such as Romeo Kumalo were concerned about what sets this business apart from other similar services like Uber Eats. The duo explained that they deal exclusively in alcohol and that they’re the only app that currently operates under an on-demand service, delivering the goods in under an hour. With a succinct and clear pitch, the “Bottles” team received three offers from Gil Oved, Marnus Broodryk and Vinny Lingham. In the end, it was Gil’s offer that proved the sweetest for them, and they chose to partner with the marketing guru.

The second deal done tonight was an emotional one that had a few of the Sharks in tears, and had all of them reaching into their pockets to assist. Daniel van der Spuy and his nephew Adriaan van der Spuy came into the tank with a revolutionary medical invention. Daniel, who has enjoyed a long career as a plumber, was diagnosed with advanced Crohn’s Disease a few months after getting married. After having invasive surgery, he now lives his life with a colostomy bag attached to him at all times. Whilst it was a messy topic to bring to the Sharks, the reality of Daniel’s situation was that he quickly realized that the process of cleaning the bag at regular intervals was not only difficult and impractical, but also profoundly demoralizing and deeply dehumanizing. And so, with Adriaan’s encouragement he made a plan and invented the “Lazarus” device, which effectively and easily cleans out medical bags of this sort. Daniel came into the tank hoping to land capital in order to patent his product and launch it properly around the country – and eventually the globe.

Visibly moved by Daniel’s struggle and by his fighting spirit, the Sharks all offered to give him the money required to get the patent as soon as possible. They were all willing to do this for no equity in the business, but simply because they felt strongly that Project Lazarus needed to get going, and quickly. Romeo Kumalo also offered them a proper deal, over and above this. As he told Daniel, “this is a great South African innovation and I’m so looking forward to working with you guys. We can change lives around the world.” With that, Daniel and Adriaan walked away with cash injections from all of the Sharks, as well as a deal with Romeo.

Throughout the rest of the season, all five of the Sharks made some canny investments. Here with a breakdown of the partnerships in the tank:

Marketing guru Gil Oved invested in a number of diverse projects, including home décor businesses “Native Décor” and “Creative Doormats” as well as partnering with fellow Sharks on other business. He and tech expert Vinny Lingham struck a deal together to invest in a gaming company called “Augmentors” and keeping on the tech side of things, Gil partnered with Dawn Nathan-Jones in an online start-up called “Plan My Wedding”. Lastly, he invested in the “Bottles” app in the final episode of the series.

Vinny sank his money into the most start-ups, with six investments in total, including “Comfy Mommy” rocking chairs, the “Numberwise” numeracy application, an investment that he made with fellow Shark Romeo Kumalo, the “Augmentors” game with Gil, the FCP Energy solar roof tiles, the vivacious “Ice Cream Ninjas” franchise and ex-Survivor South Africa contestant Shona MacDonald’s “Thursdays” lingerie and swimwear.

Shark Dawn Nathan-Jones, who is passionate about female entrepreneurs, put her money where her mouth was when she invested in Tanya Byrne’s “Party Candles” business, as well as Tamburai Chirume’s “One of Each” bespoke handbags. She also backed young business owner Thabiso Mokomele’s clothing line “T-Squared” and partnered with Gil in the “Plan My Wedding” app investment.

Accountant Marnus Broodryk stuck to beverages when he invested in the microbrewery called “Ja Brew” and in a sibling team of water purification experts and their business called “Go-Zone Water.”

Telecommunications expert Romeo Kumalo also dug deep when he invested in the “Numberwise” app with tech expert Vinny. He also nabbed two other deals, namely Taryn Gil’s “The Perfect Hair” – which he landed when he promised to collaborate with his wife Basetsana on the marketing of the products – and “Project Lazarus”, tonight’s final, heart-warming investment deal.

To find out more about the businesses that have been featured on the series so far, especially if you’re interested in supporting them with an order or purchase, go to www.mnet.tv/sharktank or follow the conversation about the show on Twitter @MNetSharkTank with the hashtag #SharkTankSA.

Categories
Television

Shark Tank Teaser: Episode 12

More deals and many happy tears in the finale of Shark Tank SA!

Over the past 11 weeks, 16 partnerships have been made between the five millionaire investors and everyday South Africans who were looking to start, grow or save their businesses. We’ve seen drama, laughs, awkward and heart-warming moments, and in this week’s final episode of Shark Tank South Africa, four more entrepreneurs will be given the opportunity to pitch their businesses to the pack of ever-hungry Sharks.

This Sunday, accountant Marnus Broodryk, business woman Dawn Nathan-Jones, tech guru Vinny Lingham, telecommunications expert Romeo Kumalo and marketing authority Gil Oved will encounter a pair of young entrepreneurs hoping that at least one Shark will put some lightning in their bottle. They will be followed in the tank by a business woman from KZN intending to wow the Sharks with her delicious, healthy treats, a plumber with a medical invention designed to change lives and a serial entrepreneur who has his fingers in many pies, including one particular sector that Shark Dawn is very familiar with.

Even though it’s the final episode of the series, the Sharks remain fierce, critical and to the point when they need to be. However, this episode will also see the five investors faced with one heart-wrenching pitch in particular that sees everyone’s emotions running high, so grab the tissues!

To find out more about the businesses that have been featured on the series so far, especially if you’re interested in supporting them with an order or purchase, go to www.mnet.tv/sharktank or follow the conversation about the show on Twitter @MNetSharkTank with the hashtag #SharkTankSA.

Shark Tank SA, sponsored by Telkom SA, is screened on Sundays between 18:00 and 19:00 on M-Net 101. This corresponds with the timeslot on a Sunday when all DStv customers can get a taste of what’s available on M-Net 101, so if you’re not a DStv Premium customer, you can also go to channel 101 to watch Shark Tank SA. The series will also be available on DStv Catch Up and streamed live on DStv Now.

Categories
Television

Shark Tank SA : Episode 11 Summary

Previous Survivor SA contestant nabs a deal!
Scintillating swimwear line hooks the Sharks

In the penultimate episode of M-Net and Telkom’s Shark Tank SA tonight, a familiar face to M-Net audiences was able to take her pick when it came to partnering with a Shark to expand her unique swimwear and lingerie brand. Previous Survivor SA: Champions contestant Shona MacDonald has come a long way since her ditsy days on a deserted island. Tonight, Shona stepped into the tank as a confident business woman who was not going to leave without a deal. Luckily for her, the five Sharks we all able to recognize that this sassy entrepreneur knew her business inside and out, and had the drive required to nab a worthy investment.

Shona introduced the Sharks to her company called “Thursdays Swimwear and Lingerie”, a brand specially aimed at bigger-busted women. In Shona’s words, she “supports boobs” – quite literally! Even though her business is still a fledgling operation, Shona has spent the last two years on market research and product development and impressed the Sharks with her knowledge of the industry. She was seeking capital from the Sharks in order to roll out the new line for next season’s swimwear garments and to get the lingerie arm of the company up and running. Marketing expert Gil Oved was initially not interested in investing, but Shona’s tenacity won him over and he made her the first offer of the night. Hot on Gil’s heels, Dawn Nathan-Jones – who is passionate about female entrepreneurs – also made Shona an offer, pointing out that of all of the Sharks, she can relate the most to this business. But in the end, it was Silicon Valley-based tech guru Vinny Lingham who won Shona over, as he offered to assist her with capital as well as his technological expertise, in order to take “Thursdays” to new heights in the global online retail space.

While Shona demonstrated the qualities that the hungry Sharks were looking for, three other entrepreneurs were not as convincing. Cape Town-based businessman Tim Clarke scooted into the tank with his tourism business called “Cape Side Cars”. Having been operating successfully for many years, Tim was looking for an investment to scale his business and to market to local clients looking to be driven around the most scenic parts of the Western Cape in vintage motorbikes with side cars, since most of his business has come from the international tourism sector until now. While the Sharks were all very optimistic about Tim growing a business that can fuel South African tourism, they had their concerns too. Dawn Nathan-Jones, who has spent most of her career in the tourism industry made and important point to Tim and the rest of the Sharks: “We all know the up-side of tourism, but there’s a down-side too. It’s highly cyclical, incredibly volatile, and I prefer to invest in asset-light businesses.” For those reasons, she promptly declared herself out. Romeo, Gil and Vinny followed suit, with the general consensus being that Tim had valued his company too high and that they would not make an easy return on their investment. Recognising this issue too, accountant Marnus Broodryk offered Tim a loan in exchange for equity in his business, but Tim was not convinced and declined to take Marnus up on this potential compromise.

Following in Tim’s footsteps was Lebogang Mphela, a passionate entrepreneur who had quit her day job in order to chase her business dream. Lebo is the owner of “Malia Nail Care”, a high quality, locally produced nail polish formula. Lebo prides herself on providing alluring nail style and on-trend colours, but also on nail care. Each bottle of “Malia Nail Care” comes with a sticker on the back giving nail care tips to customers for everyday use at home. Unfortunately for Lebo, her business was just too small and in its infancy for the Sharks to deem it worthy of investing in. As Gil noted to Lebo, “you’re a great salesperson but you really have nothing here yet. You want us to invest in something that is a dream. Unfortunately you haven’t nailed it for me. I’m out.”

Lastly, an Italian-born innovator hoping to snag a Shark with his fresh take on a frozen food family favourite stepped into the tank. Frank Ciman, who was hoping for very hungry investors, was pitching his business called “Wonderfillz Pizza Cones”. A mechanical engineer, Frank has designed and manufactures machines that can create cone-shaped pizzas that make it much easier to eat than regular pizza slices. While he has been selling this equipment to vendors around SA for the last few years, he was looking for capital from the Sharks in order to make the product himself and get into retail stores. Specifically, Frank required an investment in order to tool up a bakery that can make the dough and toppings for the pizza cones full-time.

The snag for all five of the Sharks was that he would still be running his manufacturing business on the side, while they were only investing in the retail side of things. This fact, coupled with the reality that Frank had no expertise in the highly competitive frozen food retail space, had all of the Sharks swimming away. As Gil summed it up for Frank, “You’ve chosen a very tough industry to crack. At the best of times, it’s damn hard. You’re a great engineer but you’re not a retail expert.”

To find out more about the businesses that have been featured on the series so far, especially if you’re interested in supporting them with an order or purchase, go to www.mnet.tv/sharktank or follow the conversation about the show on Twitter @MNetSharkTank with the hashtag #SharkTankSA.

Shark Tank SA, sponsored by Telkom SA, is screened on Sundays between 18:00 and 19:00 on M-Net 101. This corresponds with the timeslot on a Sunday when all DStv customers can get a taste of what’s available on M-Net 101, so if you’re not a DStv Premium customer, you can also go to channel 101 to watch Shark Tank SA. The series will also be available on DStv Catch Up and streamed live on DStv Now.

Categories
Television

Shark Tank Teaser : Episode 11

Sidecars, swimwear and more scintillating prospects

In the penultimate episode of M-Net and Telkom’s Shark Tank SA, the five intrepid investors face up to some of the most passionate business owners that have stepped into the tank to date. Simply being a good salesperson is not going to get you very far where the savvy Sharks are concerned, however, as enthusiasm for your craft will only get you so far.

Facing up to accountant Marnus Broodryk, marketing expert Gil Oved, telecommunications specialist Romeo Kumalo, business and marketing authority Dawn Nathan-Jones and tech guru Vinny Lingham this week are a Capetonian hoping to wheel-and-deal his way to taking his tourism business to the next level, a familiar face to M-Net’s audiences with a super sassy fashion pitch, an Italian-born innovator set on snagging a Shark with a fresh take on a frozen food family favourite, and a young entrepreneur who quit her job to pursue her colourful business dream.

As always, the ambitious small business owners will have to keep their composure as the Sharks demand financial breakdowns, long term plans and distribution strategies. In fact, they may even question whether certain entrepreneurs are actually taking advantage of their goodwill…

To find out more about the businesses that have been featured on the series so far, especially if you’re interested in supporting them with an order or purchase, go to www.mnet.tv/sharktank or follow the conversation about the show on Twitter @MNetSharkTank with the hashtag #SharkTankSA.

Shark Tank SA, sponsored by Telkom SA, is screened on Sundays between 18:00 and 19:00 on M-Net 101. This corresponds with the timeslot on a Sunday when all DStv customers can get a taste of what’s available on M-Net 101, so if you’re not a DStv Premium customer, you can also go to channel 101 to watch Shark Tank SA. The series will also be available on DStv Catch Up and streamed live on DStv Now.

Categories
Television

Shark Tank SA : Episode 10 Summary

Vinny Lingham bites… again

This week in M-Net and Telkom SA’s Shark Tank South Africa, the sparks flew as some over-confident business owners stepped into the tank with some strong opinions aimed at the panel of skeptical Sharks. For one company however, the enthusiasm for their brand did not cross the line between confident and arrogant, and as such, tech guru Vinny Lingham took the plunge and struck the only deal of the episode – and a sweet one at that.

Capetonian Anton Fester, accompanied by one of his employees, James Peters, entered the tank with their unique ice cream selling business called “Ice Cream Ninjas”. The “Ninjas” have a unique way of selling their ice cream by using skilful demonstration styles to engage with their customers and create unique flavour combinations that will never leave their clientele bored or dissatisfied. They mainly take their demo-style ice cream gigs to events around the country, and this part of their business has been very successful over the past three years. Anton came into the tank hoping to obtain capital from a Shark in order to open his own line of kiosks in shopping centres around South Africa.

Most of the Sharks had some serious reservations, however. Gil, Romeo, Dawn and Marnus were all unanimous in their opinion that this new business direction of Anton’s was simply not scalable. Accountant Marnus, who has been involved with a big frozen yoghurt chain recently, pointed out that there are simply too many competitors coming into the retail space that Anton was looking to conquer too. All four of these Sharks declared themselves out, but Vinny Lingham – who’d remained quiet until then – finally chipped in. “So, where the other Sharks don’t like risk, I do like a little bit of risk,” he told Anton. “With good risk comes good rewards, so I want to give you a chance. I will give you the money to roll the kiosks out slowly and steadily and together we will follow the processes that will make this business scalable.” Surprised but still on his game, Anton tried to give Vinny a counter-offer but Shark Marnus warned him that Vinny’s deal was an excellent one that he shouldn’t hesitate to take. With that, the deal was swiftly settled.

Other entrepreneurs were not as lucky as Anton. When Dave Pons, who was Durban’s Chamber of Commerce “Entrepreneur of the Year” in 2014 entered the tank, there were high hopes for him and his invention called “Ceiling in a Can”. Dave has developed a mix of polymers which, when blended together, dry into a board that acts as insulation that can be installed easily into any ceiling. His product is cost effective, fire retardant and waterproof and, as he pointed out to the interested Sharks, a much-needed product for low cost housing in South Africa.

Clearly very interested, Marnus asked Dave about his business case. “The plan is to grow this business within three years and then to sell it. The idea is to create employment for contractors to buy the product and use it themselves,” Dave explained. Tech guru Vinny immediately shot back at Dave: “I really like the product and the idea, but I’m annoyed by entrepreneurs who come in with a short-term view of what they’re doing. I like to invest in people with long-term views. I’m out.”

Marnus also felt that the investors would have to put in much more than just their money in order to get the product off the ground and get a return on their investment, at which point Dave accused Marnus of being greedy, and only being interested in the money. As tensions rose between them, with Marnus firmly telling Dave to rein is attitude in, the rest of the Sharks declared themselves out one by one. Businessman Romeo, who really liked Dave’s invention, told him: “There are parts of your pitch that I buy into, and I buy into your product. But I don’t buy into you. So I’m out.” Marketing expert Gil Oved concurred with Romeo. “I want to support you and your product. I like your nuttiness and inventive spirit, but I’m very concerned about your demeanour. I’m afraid that we’ll get into fist fights and I want to work with people that won’t cause that kind of friction. You’ve hit your ceiling with me. I’m out.”

Another entrepreneur who fell short of nabbing a deal tonight was microbiologist Barend Carven, who came to the Sharks looking for an investment in his app called “Timewise Parent Control”. His product is a tool that assists parents to teach their kids a responsible usage limit on their devices. It consists of two separate apps: one for the parent and one for the child, whereby the parent can remotely control how much time their child spends on their devices. Unfortunately, Barend also required too much secondary support such as marketing and tech expertise in order to get the business running effectively. As Romeo, who has already invested in one app this season with fellow Shark Vinny said: “I recently went to a talk at my son’s school about this, and I think that there is a big need for this type of product. I want to support you and I want to make you an offer but I can’t see how we’re going to monetise this business.” Tech specialist Vinny also had reservations because Barend did not have a technological co-founder in the business. With that, all of the Sharks declined to invest.

Lastly, a father and daughter team with an idea designed to hook a hungry Shark came to the investors with their invention called the “Groove Knitting Needle.” Jeff and Samantha Neiman had invented a knitting needle with a catchment zone groove that has been patented so that knitters never drop a stitch again. Their pitch showed much promise as they revealed that they currently have a signed contract with the biggest knitting needle manufacturer in the world. The “Groove Knitting Needle” was still a prototype, however, and their business has yet to be started. Marnus summed it up by telling them: “All of your projections for this business are simply guess work. You have no guarantees or commitments from your distributor at this stage.” All five Sharks felt that it was simply too high of a risk to invest at this early stage, and declared themselves out.

To find out more about the businesses that have been featured on the series so far, especially if you’re interested in supporting them with an order or purchase, go to www.mnet.tv/sharktank or follow the conversation about the show on Twitter @MNetSharkTank with the hashtag #SharkTankSA.

Shark Tank SA, sponsored by Telkom SA, is screened on Sundays between 18:00 and 19:00 on M-Net 101. This corresponds with the timeslot on a Sunday when all DStv customers can get a taste of what’s available on M-Net 101, so if you’re not a DStv Premium customer, you can also go to channel 101 to watch Shark Tank SA. The series will also be available on DStv Catch Up and streamed live on DStv Now.

Categories
Television

Shark Tank Teaser – Episode 9

Teaser: Shark Tank SA Episode 9
Sunday, Sunday, 27 November at 18:00

A mixed bag for the Sharks to choose from

In this week’s episode of M-Net and Telkom’s Shark Tank SA, the five business mogul investors are faced with a diverse assortment of business ideas and the people behind them. Whilst the Sharks have made it clear in previous episodes that ideas alone are not investable, they may surprise some eager entrepreneurs this time around.

Squaring up against the hungry investors in the chilly waters of the tank on Sunday are an advertising executive with an “always pouring, never boring” attitude to gaming, a construction professional from Nelspruit with an organic invention to fuel the Sharks’ fire, an entrepreneur from East London looking to sell the Sharks on his “smashing” idea for the mining industry and a couple from Cape Town with grand designs to revolutionise the big, wide world of weddings.

As always, the pioneering business owners will have to keep their wits about them in the tank this week, as the Sharks drill deep into finances and figures, crunch down on some lofty projections and surprise us by demonstrating that every rule has its exception too!

To find out more about the businesses that have been featured on the series so far, especially if you’re interested in supporting them with an order or purchase, go to www.mnet.tv/sharktank or follow the conversation about the show on Twitter @MNetSharkTank with the hashtag #SharkTankSA.

Shark Tank SA, sponsored by Telkom SA, is screened on Sundays between 18:00 and 19:00 on M-Net 101. This corresponds with the timeslot on a Sunday when all DStv customers can get a taste of what’s available on M-Net 101, so if you’re not a DStv Premium customer, you can also go to channel 101 to watch Shark Tank SA. The series will also be available on DStv Catch Up and streamed live on DStv Now.

Categories
Television

Shark Tank SA – Episode 8 Summary

Shark Tank South Africa, episode 8, Sunday 20 November.
Tech guru Vinny Lingham invests in renewable energy at home

This week in M-Net and Telkom SA’s Shark Tank South Africa, there were investment opportunities aplenty and even some heartfelt tears shed by Shark Marnus Broodryk. Despite giving viewers a glimpse of the Sharks’ softer sides, however, business is still business and only one deal was clinched in the tank tonight, courtesy of Silicon Valley-based Shark Vinny Lingham.

Three entrepreneurs with diverse backgrounds, Lisa Ellingworth, Warren Hurter and Kelvin Carr, came into the tank tonight with their company “FCP Energy”. The communications manager, engineer and construction expert had joined forces and invented a solar roof tile specifically made in the classic “Double Roman” style, a type of tile that is used most commonly in South Africa. Despite there being similar products on the market already, the FCP Energy team were looking to the Sharks for capital so that they could create the perfect prototype for their invention. While this type of investment is something that would usually put the Sharks off, they explained that once the prototype was perfected, their invention could be patented. Shark Romeo was the first to chip in: “I’m already invested in this particular sector, and from what I can see, there is nothing unique about what you’re representing here. For that reason, I’m out.”

The rest of the Sharks echoed Romeo’s opinion, but Vinny Lingham, who resides in California and is passionate about renewable energy and a green lifestyle, had a tell-tale glint in his eye. “I’m going to take a chance and trust that you have some valuable IP in this business. I want to make you an offer so that we can work together and scale this business – and even go into Silicon Valley,” he exclaimed. This was all that the trio from FCP Energy needed to hear, and with that, the deal was sealed.

On the other end of the renewable energy scale was Chris Chow, an engineering consultant originally from Hong Kong with his Fuel Decontaminant invention. Chris came to the Sharks with his own invention – a small device that one can fit into any car engine which detects when the fuel in the tank becomes contaminated, either with water or other pollutants. While Chris’s business figures to date were incredibly promising due to the fact that he is addressing a very common problem, the Sharks all shared the same concern, as was summed up by Vinny Lingham. “As we know, I’m all about renewable energy. You can definitely make good money in the short term, but from my investment philosophy perspective, I’m trying to create the future. Will this company still be around in 10 to 15 years’ time? The answer is no.” And for that reason, the five Sharks wished Chris all of the best as he left with an empty tank of his own.

There were two young female entrepreneurs in the Shark Tank tonight who really impressed the Sharks but still had a way to go before their companies could be deemed worthy of investments. IT professional Thokozile Magwiro came to the Sharks with her 100% home-grown and plant-based moisturising hair care range, “Nilotiqa Hair Care”. Thokozile was in search of capital in order for her to expand her marketing and distribution channels. Unfortunately, Thokozile has only been running her online shop for six months and her profits to date were simply not lucrative enough for the Sharks to invest at this early stage. She did, however, receive some valuable advice from marketing guru Gil Oved: “Go to the salons around South Africa – these type of outlets are low-hanging fruit for you. They’re not yet cluttered and have low margins – exactly what you need. Learn small, grow big and then please come back into the tank!”

Shark Marnus Broodryk had an emotional moment tonight when 25-year-old Nerike Botes from Klerksdorp pitched her beauty salon business “House of An”. Marnus was incredibly moved by Nerike’s story of starting her own business when she was just 22 years old, and the struggles she has overcome since. “I’m so emotional because I love entrepreneurs who are able to hustle like you. You just reminded me of my own story, and where you are now is just so great,” Marnus gushed.

Nerike wanted the Sharks’ investment in order to branch out and start a mobile pod franchising business as a separate branch from her existing “House of An” retail outlet in Johannesburg. Once again, it was Vinny who hit the nail on the head: “Nerike, you’re making a classic mistake that entrepreneurs make all the time. Investors don’t want to buy a piece or a part of your future, we want to invest in your whole future. And so when you come into the tank having split up your business, giving me the opportunity to only invest in half of it, it means that I’m out.” This, coupled with the fact that she is operating in an already saturated market gave the rest of the Sharks enough reason to decline. After having taken such a shining to her, accountant Marnus Broodryk told Nerike “I like you so much, but the business is not right for me. I’m out.”

To find out more about the businesses that have been featured on the series so far, especially if you’re interested in supporting them with an order or purchase, go to www.mnet.tv/sharktank or follow the conversation about the show on Twitter @MNetSharkTank with the hashtag #SharkTankSA.

Shark Tank SA, sponsored by Telkom SA, is screened on Sundays between 18:00 and 19:00 on M-Net 101. This corresponds with the timeslot on a Sunday when all DStv customers can get a taste of what’s available on M-Net 101, so if you’re not a DStv Premium customer, you can also go to channel 101 to watch Shark Tank SA. The series will also be available on DStv Catch Up and streamed live on DStv Now.

Categories
Television

Shark Tank Teaser – Episode 8

Sharks show their softer sides
Chat to the Sharks directly after the show on Facebook Live!

The five business moguls on Shark Tank SA are notorious for not holding back from dishing out some harsh criticism in the tank. This week, however, reveals a softer side to them as there are investment opportunities aplenty and even some heartfelt tears shed. Moreover, Gil Oved, Marnus Broodryk and Dawn Nathan-Jones will all be taking fans’ questions after the show in a Facebook Live chat from M-Net’s HQ at 19:00!

This week on M-Net and Telkom SA’s popular pressure cooker business show, the Sharks welcome an IT professional hoping to hook one of the Sharks with her 100% home-grown product, a trio of determined entrepreneurs looking for a big investment to build a lofty prototype, a young business owner from Klerksdorp who has quite a bit in common with one of the Sharks, and an engineering consultant originally from Hong Kong with a business invention to literally fuel the Shark’s appetites.

As is the case every week, there are some entrepreneurs that are unluckier than others, but this week, the Sharks are even philosophical about this fact. In the wise words of Romeo Kumalo, “A lot of the entrepreneurs that we see coming into the tank are technically sound. But they don’t understand that they need complimentary skills to become successful entrepreneurs.” Suffice to say, anyone who convinces the Sharks to dig deep into their pockets this week will have to be able to demonstrate that they are Jacks of all trades, and masters of them too.

Viewers of the show who have burning questions for business woman Dawn, marketing guru Gil or accountant Marnus can simply log onto the “M-Net Shark Tank” Facebook page directly after the show and join in on a candid, informative and fun conversation with them.

To find out more about the businesses that have been featured on the series so far, especially if you’re interested in supporting them with an order or purchase, go to www.mnet.tv/sharktank or follow the conversation about the show on Twitter @MNetSharkTank with the hashtag #SharkTankSA.

Shark Tank SA, sponsored by Telkom SA, is screened on Sundays between 18:00 and 19:00 on M-Net 101. This corresponds with the timeslot on a Sunday when all DStv customers can get a taste of what’s available on M-Net 101, so if you’re not a DStv Premium customer, you can also go to channel 101 to watch Shark Tank SA. The series will also be available on DStv Catch Up and streamed live on DStv Now.

Categories
Television

Shark Tank SA Episode 7 Summary

 

Three Sharks invest in vastly different businesses

Shark Tank SATonight in M-Net and Telkom SA’s pressure cooker episode of Shark Tank South Africa, two best friends from Durban convinced two of the Sharks to pair up and invest in their gaming business together, while a young female innovator from Cape Town had Shark Dawn Nathan-Jones fight to get her investment offer accepted.

Tamburai Cherume, a young woman who quit her job in the banking sector to become a full time entrepreneur came into the tank to pitch her business “One of Each”, a mother-and-daughter design duo manufacturing and designing luxury African print handbags. Tamburai’s bags are made from a combination of vibrant African prints, coupled with leather. Their design allows the owner to wear the bag one of five different ways, hence the name of her company. When Tamburai informed the Sharks that she started her company two years ago in 2014 with a capital amount of R1500 and to date they have generated a revenue of over R2 million, all five of them immediately sat up and stated paying serious attention. Having a unique product that appeals to a global market, Tamburai already has 15 stockists stocking her product world-wide too.

“I like you very much and I love women entrepreneurs. My question is: why would you come into the Shark Tank when your business is clearly doing so well,” Dawn asked. Tamburai answered that she desperately needs the mentorship to scale her business to the next level. But when Gil and Marnus started asking Tamburai to delve into the exact details of her company’s financials, the wheels started coming off as she didn’t know some basic figures off-hand. Despite that, Gil and Dawn both offered Tamburai deals, as they liked her and her business so much. In the end, Dawn’s financial offer was clinched by the fact that she told Tamburai that she would be moving to Cape Town and could be the most hands-on of all of the Sharks in helping her to grow.

The second deal struck in the tank tonight was with two friends from Durban, Kyle Haffendon and Michael Joubert, who were seeking a big investment in their company called “Augmentors”. Kyle and Michael have created an augmented reality game allowing two mobile devices to communicate with each other in order to allow their users to battle against each other in the game. They required capital from the Sharks in order to complete the development of the game, the aim of which is to bring socialisation back into online gaming with the introduction of special “trigger” cards that players are required to buy in order to advance further in the game. Impressed with the young men’s concept as well as their background as designers and developers, the Sharks showed some interest, although Gil Oved, who sits on the board of one of South Africa’s largest venture capital tech funds, highlighted that the introduction of the store-bought “trigger” stickers was a big flaw in their business plan.

Vinny pointed out that the two gamers could achieve the same ends by using a different type of technology, because he understood that they wanted to create rarity with this game. Dawn, Romeo and Marnus were all immediately out, but marketing guru Gil Oved proposed a deal contingent on the fact that fellow Shark and tech mogul Vinny go in with him. Vinny agreed, and naturally Kyle and Michael jumped at the once-in-a-lifetime offer from these two Sharks.

Qualified chemical engineer Willaim Kelly from Johannesburg was hoping to lure a Shark into a tank of his own making tonight, but unfortunately for him, it was a near miss. William’s company, Rydawi Fish Farms, is a concept that has emerged out of a brand new industry with no track record other than the one that he’s currently carving out as he goes. Having worked with fish for over 20 years, William jumped into the fish farming business recently when government granted permits 18 months ago for growers to farm with a commercially viable species of fish for the first time.

Accountant Marnus Broodryk told William and the other Sharks that he knows that the fish farming industry is growing at a rapid rate abroad, and, as a vegetarian, he believes that the world clearly needs an alternative for what’s happening in our oceans. Despite loving the numbers that a business like this could mean, ethically Marnus could simply not invest and as such, declared himself out. Gil asked William why the “big guys” are not buying into this farming sector and the only reason that William could offer was that at the moment, government’s permits are only valid for 5 years. Marnus chipped in again that aqua farms are growing a rate that is three times faster than normal agricultural farms on a global scale, hoping that one of his fellow Sharks would bite, but in the end they all deemed the business too risky to invest in at such an early stage, and sent William home without an offer.

Another entrepreneur who did not manage to win the Sharks over this evening was former air force weapons specialist Konrad van der Westhuizen with his own invention called the “Madkon Braai”. Konrad had invented a unique portable braai that comes in various sizes. It was originally invented for the 4X4 market but is currently being used by a wider audience. He came into the tank looking for capital so that he could expand his business in America. Incredulous, Gil questioned Konrad about the fact that the USA is one of the most competitive markets in the world, and as such, how he would ever be more successful there than here on home ground. Romeo also pointed out that we need to create jobs here in South Africa, instead of elsewhere. Unimpressed by Konrad’s lack of answers, all of the Sharks were quickly out.

To find out more about the businesses, especially if you’re interested in supporting them with an order or purchase, go to www.mnet.tv/sharktank or follow the conversation about the show on Twitter @MNetSharkTank with the hashtag #SharkTankSA.

Shark Tank SA, sponsored by Telkom SA, is screened on Sundays between 18:00 and 19:00 on M-Net 101. This corresponds with the timeslot on a Sunday when all DStv customers can get a taste of what’s available on M-Net 101, so if you’re not a DStv Premium customer, you can also go to channel 101 to watch Shark Tank SA. The series will also be available on DStv Catch Up and streamed live on DStv Now.

Categories
Television

Shark Tank Teaser – Episode 7

Sharks are biting and ready to invest

The five business moguls on Shark Tank SA are hungry and prepped to do some serious business in this week’s upcoming episode of the series, despite a few wobbles experienced by the entrepreneurs in the tank.

This Sunday on M-Net and Telkom SA’s popular entrepreneurial reality show, we see a former air force weapons specialist with a unique twist on South Africans’ favourite pass time, a qualified chemical engineer who is hoping to lure a Shark or two into a real tank of his own making, a young woman who quit her job in the banking sector to become a full time entrepreneur and a nerdy duo from Durban with a pitch that triggers a big reaction in the tank!

As was the case last week, the Sharks do not hold back when faced with some financial projections that don’t add up, as well as some sketchy knowledge when it comes to the nitty-gritty of the existing numbers in certain businesses. Some budding business owners have not even considered the financial implications of investing in marketing and distribution channels, despite knowing that they desperately need these crucial cornerstones if they’re ever going to grow their company. Despite that, the Sharks are willing to make some exceptions for characters that can prove their grit, hustle and passion time and again. Even if you don’t have all of the answers, these five experts may still back you all the way.

To find out more about the businesses that have been featured on the series so far, especially if you’re interested in supporting them with an order or purchase, go to www.mnet.tv/sharktank or follow the conversation about the show on Twitter @MNetSharkTank with the hashtag #SharkTankSA.

Shark Tank SA, sponsored by Telkom SA, is screened on Sundays between 18:00 and 19:00 on M-Net 101. This corresponds with the timeslot on a Sunday when all DStv customers can get a taste of what’s available on M-Net 101, so if you’re not a DStv Premium customer, you can also go to channel 101 to watch Shark Tank SA. The series will also be available on DStv Catch Up and streamed live on DStv Now.

Go to www.mnet.tv/sharktankor follow the conversation about the show on Twitter @MNetSharkTankwith the hashtag #SharkTankSA.