In Australia, accountants can be liable for financial advice given even while off-duty. What has likely happened is the accountant has given some wishy-washy response to avoid litigation along the lines of "it could be anywhere between ten thousand and ten million." And then the people get excited and latch onto the larger number. There could be any number of ways these numbers come about.
It’s so sad, most of these people have amazing products/businesses but failed to get investments only because their accountants screwed them over with ridiculous numbers that they believed due to inexperience.
@@peaceout19991 I don’t really know, but that might not be a good idea since as a ceo you should know your company. That’s why confidence is good, because it shows you’re sure. If you ask them what they think is fair and try to negotiate from there it only shows incompetence.
@@peaceout19991 The rule is you have to get at least all the money or nothing. You can be offered more, but you can't have less. So if you go in and ask for £500,000, then you're already going to have trouble. But the bigger issue is, that if in reality your business isn't even worth $500,000, now or in the near future, then the sharks have their hands tied. If your business is only worth $550,000, which most of these aren't even close, then the only fair amount would be $500,000 for 90% of the business, making it no longer your business.
@@peaceout19991 The rule for the sharks or any investor is dont invest in CEO whos delusional or who doesnt quite have a handle on the realities of the product. Having 280 sales is a great start but practically speaking the same as have zero sales and yet she thinks her company is worth 10 million? Its a red flag for an investor that perhaps this person doesnt quite have their company together. Dont forget the sharks arent signing up to help run the company (although they sometimes do) its really just to invest money in a company they see is already running well. They arent just investing in the product but also the ceo/inventor and company as a whole
Wow, Australia Shark Tank are super nice. In America a lot of these contestants would be torn to shreds. Also a lot of these contestants are so nice when faced with criticism. American contestants act like you insulted their children when you insult their business or product. Is Australia just that nice of people? I kind of want to move to Australia if everyone is just this nice to each other!
Word to the wise: If your business is not making a profit, your valuation of it can't be much more than cost of assets, because there's not much else to go on.
i work at a beauty supply store and have been experimenting with all our volumizing products and haven’t been able to find something that 1. doesn’t make my hair either crunchy (sprays) or waxy (powders) 2. actually gives lots of volume without having to tease and 3. lasts all day long (most products i’ll come into work with huge beautiful hairs then by the end of the day it’s flattened out) so i really wanna look into that product. but what they need to do is sell it to beauty supply stores! if that sold at my store and i tried it and loved it i would 100% sell it to people (i don’t shut up about products i love & sell so much of them). however the price is also an issue. I think they’d sell more for a lesser price. i know i personally wouldn’t spend more than $75 on a hot iron.
@@sidda7085 There's plenty of people that are life-long bartenders or waiters. Some of those bartenders make a ton of money. Not everyone wants to work in an office or a factory.
@@sidda7085 because you can easily make $700 a night working at the right place lmfao DUH!!! Signed another longtime bartender/waitress who is doing just fine 🥳🥳
I feel for some of these, I understand that most have worked on there projects for up to 5years but you gotta go into these with realistic goals. It’s better to have a piece of a big pie then own a small pie.
The hair volumiser is a great idea I would use it edit and I also see hairdressers using it so much better than teasing the hair and damaging it i want one
I wonder if some of these companies went on knowing their valuation was unrealistic and looking more for the exposure from being on shark tank than an actual investment.
she should sell the ice bucket skins to restaurants! especially chains like olive garden! i worked there for 4 years & i know we would have loved using those! i would put a linen down under them but they’d end up soaked by the end of the meal.
I swear these people never watch the show. In every country, in every iteration, it is absurd valuation that creates their failure to get a deal. I'm always baffled how they don't know that!
I think granola woman could do so well if she had the time and proper guidance to learn business and leadership herself. I hope she uses some of the money to pursue an MBA or something that benefits her, because she's done amazing without even understanding the foundations of expanding a business. She also seems to underestimate how much she can do ("I'm not good at computer stuff") when she basically launched a brand all by herself with no assistance.
she was very impressive and skillful. a lot of people struggle doing all of that work alone while she did it single handedly with a disability. go her!
i've only just started watching the episode and need to ask if the couple who own hipsta have seen people with cargo pants/shorts, i once moved house without a moving trunk just by wearing 2 pairs of them and it only took 3 trips.
That would be a high bar to reach and too risky to invest 250k in that idea. Only way forward would be to expand to usa or other countries but that causes logistics issues.
Well under the rules of Shark Tank, they can't lower the dollar amount that they are asking for. They have to get at least the amount that they are asking for. So, if they're asking for too much money, then it is what it is.
@@mohitdaheriya8712 , actually there is. That's why they never offer a smaller amount of money than what was initially asked for. They negotiate a higher dollar amount or negotiate the equity percentage, but they can't negotiate the dollar amount down.
Hahahaaa the people with the bottle answered all their questions without really answering their questions. “How is your product different” “well.. it’s unique” “ok and how is it unique?” “Umm.. they look unique”’ ahaha! And it’s just SUCH a dumb idea. The ONLY place I could see them being useful are at like.. music festivals and stuff where you obv need water but don’t want to have to carry it around all day.
Yeah...while I'm getting dressed in the morning, I'm going to put that hipsta thing on my belt and walk around like that all day, just in case I end up carrying a water bottle.
They can, but they're not allowed to offer less money, so with a lot of these, they'd have to get 100% of the business or even that wouldn't be enough to make it worth it for them. That's why they say they asked for too much money.
Notes. Reference purposes. Each pitch last for longer time than we see on tv. They might forget what they have said. Also they have computation. They also have this advantage and disadvantage, negative or positive things about the business.
I wonder if you can sue the accountant because at this point he gave you a professional opinion and if you’re not a business person you could argue that you went in with blind faith believing me account because your expertise is in being a beautician and I’m a businessman so you outsource that and if that evaluation class you cannot get a deal with the sharks that could potentially have you lose millions of dollars so you should effectively be able to sue that account when using his guidance cost you so much money
@@henryreese7236 right, that’s the point. it isn’t but the account said it was and that Cost you the deal. You had that evaluation based on the accountants guidance. So you so the account because you only paid then for expertise trifle they’re wrong according to the sharks you might as well came up with an evaluation by yourself
The hair evaluation is dreaming its max value 600 000 us .my company sales 2.5 million with net profit 1million per year and I am looking for 4 millions for 100 percent
I don't understand why the don't invest 100% because the person was told false evaluations and numbers. They even say themsleves they didn't know much better since they are new to this, so why don't they educate her on what a more accurate evaluation would be, or make a more realistic counter offer?
1st pitcher seems to not really know much about their cost or really anything number related. I'm HORRIBLE at #'s but I'm not an accountant or pitching to someone to give me a loan/investment for my product. I would get someone good with numbers to go over everything b4 I pitched, would be good money spent to hopefully make it worth investing in.
Interesting, most people don't understand the market moves and tend to be mislead in facts like this and always depend on Money in the Bank very bad idea.
I understand the fact that tomorrow isn't promised to anyone, but investing today is a hard thing to do for me now because I have no idea of how and where to invest in?
@@Elizabeth-fw2gu Crypto is a good investment if you want to gain direct exposure to the demand for digital currencies and the business they facilitate..I will advice you contact expert Nicholas Howard for professional guidance.
Oh so surprising as I'm happy to see Mr Howard mentioned here, My spouse recommended him to me after investing £4000 and he has really helped us in times of this bad pandemic crisis here in Australia.
K these were nuts. Side note: is Canada the only country where the term 'eskimo' is considered a slur? I was surprised when the ice skins woman said it.
I reckon they did the valuations themselves and have said it was a friend or accountant cos it's an easy out. They're entrepreneurs, jack of all trades. They would have done the numbers themselves, add in inexperience and a little ego and that's what you get.
I'm an accountant. If someone comes to us and says 'I can deliver 500 units in year 202x and 700 units in year 202x, then we can provide a costing forecast, profit per unit, cashflow forecast etc. Typically we will base forecasts on historic records. We are not marketers, we are not CEO of brands. We do not have in depth knowledge of washing machine manufacturing or peanut sales, or how to differentiate different products within brands. We do not analyse satisfaction or do trend analysis for future demand, We provide tax returns, we do a forecast of around 12 months (based on information provided to us and historic costs). We can advise on profits on projected sales. We do financial returns within the regulations that exist, be it GAAP or whatever. If some daydreamer comes in and says they forecasted that they will sell 1,000,000 million units, that's future based. We can tell them what profit they will make, forecast manufacturing costs at that scale etc to provide something realistic. If an Entrepreneur blames the accountant, it's because they have provided a fairy tale. That's why Entrepreneurs potentially will gain millions, whilst the Accountant gets a good wage.
I think they ask for those valuations because, either they don't know how to evaluate it or they thought that they should increase their valuation for the sharks
Well to be frank I have no idea how someone could evaluate their company at for instance 1.25 mil like with Hipsta when their income is about 80 k and then go oh it's growth potential in like what 5 years? I mean your company today at your very best growth potential which would be about 300 % since your growth potential is normally done by taking 80 000 - 20 000 / 20 000 = 3 then 3 x 100 to get %. So in this case the very best valuation of their company would have been 240 000 but somehow they came up with a number x 5 that? Yeah it might be a mistake by their accountants but at the same time it feels like this is a thing the owners has to know while doing a pitch or the investor won't wanna touch it since they don't believe you have any idea of what your talking about. Since in short their asking for more money then the company is even worth.
Why don’t they counter with an offer at whatever valuation they think is right and see what happens like glen did more often? In America the sharks will make an offer at half or a fraction of the valuation asked all the time.
These values are always ridiculous on these shows. Initial investors takes the biggest risk, and fact is that most are trying to sell their idea and never work on it again after making the bank. Thats why initial investors wants majority of the shares so they can take care of their investment. If you put 20k and some hours into business, doesnt magically make it worth 2mil.
Also it's the rule (of shark tank, dragon's den, etc ...), That they should get the full amount that they are asking for. So they can only raise the percentage or sth I guess, as opposed to giving less money.
When the sharks see any company valued over $1,000,000 in the Australian Shark tank, they have a heart attack, meanwhile every company in the USA shark tank is expected to be valued at least $5,000,000 and the sharks don’t blink an eye.
![[LIVE] : ONE ลุมพินี 76 | คู่เอก "ผึ้งหลวง vs สมิงดำ"](http://i.ytimg.com/vi/9SBshmGQOIM/mqdefault.jpg)
we need a shark tank expo to find out who these accountants are, and whether they are actually just the same guy giving crap evaluations
In Australia, accountants can be liable for financial advice given even while off-duty.
What has likely happened is the accountant has given some wishy-washy response to avoid litigation along the lines of "it could be anywhere between ten thousand and ten million."
And then the people get excited and latch onto the larger number.
There could be any number of ways these numbers come about.
Valuations*. Why do so many people get that wrong? You heard the word a hundred times just in this video and still you get it wrong 🤷
"You can't patent simple sh*t!" I do love Steve 😂🤣
I was really happy for that granola lady. She seems super nice and I hope she does well
She should put her face on the bag... she's beautiful.
@@kevinclear4007 She's selling food, not herself. Don't be a creep.
@@llRecks no thank you.
@@llRecks most food brands make it bc the story and face attached
@@Ziggykitty666 That's absolutely not true.
I thought the second lady was going to say "No, 208 dollars" 😂
Same 🤣
Me too... 🤣😂🤣.
However I super cringed😮 when I heard the hair Sizzle... Like wow
It’s so sad, most of these people have amazing products/businesses but failed to get investments only because their accountants screwed them over with ridiculous numbers that they believed due to inexperience.
Is there some kind of rule where they can't ask what the sharks think is fair and negotiate from there?
@@peaceout19991 I don’t really know, but that might not be a good idea since as a ceo you should know your company. That’s why confidence is good, because it shows you’re sure. If you ask them what they think is fair and try to negotiate from there it only shows incompetence.
@@peaceout19991 The rule is you have to get at least all the money or nothing. You can be offered more, but you can't have less. So if you go in and ask for £500,000, then you're already going to have trouble. But the bigger issue is, that if in reality your business isn't even worth $500,000, now or in the near future, then the sharks have their hands tied.
If your business is only worth $550,000, which most of these aren't even close, then the only fair amount would be $500,000 for 90% of the business, making it no longer your business.
@@sahb8091 i thought that's a dragon's den rule
@@peaceout19991 The rule for the sharks or any investor is dont invest in CEO whos delusional or who doesnt quite have a handle on the realities of the product. Having 280 sales is a great start but practically speaking the same as have zero sales and yet she thinks her company is worth 10 million? Its a red flag for an investor that perhaps this person doesnt quite have their company together. Dont forget the sharks arent signing up to help run the company (although they sometimes do) its really just to invest money in a company they see is already running well. They arent just investing in the product but also the ceo/inventor and company as a whole
Wow, Australia Shark Tank are super nice. In America a lot of these contestants would be torn to shreds. Also a lot of these contestants are so nice when faced with criticism. American contestants act like you insulted their children when you insult their business or product. Is Australia just that nice of people? I kind of want to move to Australia if everyone is just this nice to each other!
AMEN x2
It's just a tv show. You are way over thinking it, ha.
@@thebra Huh?
It's honestly hard to watch the American version after the Australian version. So much more upbeat.
I am the prime minister. We aren't this nice, no. This show is fabricated. It's third rate entrepreneurs pitching to second rate investors.
Word to the wise: If your business is not making a profit, your valuation of it can't be much more than cost of assets, because there's not much else to go on.
Is it just me or do they all have shared hatred towards accountants 😂😂😂
@5:45 when Naomi explained this I got goosebumps and I felt stressed for the owners and I'm not even part of this shit
I love the redemptive music when she reveals she's dyslexic. sharktank AUS is kilometers ahead of sharktank US
Miles*
Naomi still has the "PRINCESS" headband while seriously explaining😂
Naomi is so redculious. She makes crazy offers and I don't remember an episode where she actually invested in anything.
i work at a beauty supply store and have been experimenting with all our volumizing products and haven’t been able to find something that 1. doesn’t make my hair either crunchy (sprays) or waxy (powders) 2. actually gives lots of volume without having to tease and 3. lasts all day long (most products i’ll come into work with huge beautiful hairs then by the end of the day it’s flattened out) so i really wanna look into that product. but what they need to do is sell it to beauty supply stores! if that sold at my store and i tried it and loved it i would 100% sell it to people (i don’t shut up about products i love & sell so much of them). however the price is also an issue. I think they’d sell more for a lesser price. i know i personally wouldn’t spend more than $75 on a hot iron.
I totally agree with you
10 million evaluation for that hair company? Come off it.
Dude with only 208 units sold too, like what the hell were they drinking the night before 😂
so happy for that granola lady. people love granola especially when it's home made. hope she did great afterwards.
7:55 I think it's odd how they both said "yup" when Steve said that they set themselves up to not get a deal. Seems like that was their intent... 🧐
She sure is nice and thick though
Bottled drinks are 30,000 times worse for the environment than tap water
You are right best is boiled water cooled down
And for that reason I’m out
Eggsactly!!
Too bad it doesn’t seem compatible with re-usable water bottles
Mhh nice pharmacy straight outta tap
As a waitress and bartender for more years than i care to disclose, i can say the ice bucket issue is very real.
Why would anyone want to be a life long waitress & bartender? That’s crazy to me.
@@sidda7085 literally when did she say life long? and even if it was do you realise that just depends on the situation they are in?
@@sidda7085 No profession is better than the other or necessary for human evolution.
@@sidda7085 There's plenty of people that are life-long bartenders or waiters. Some of those bartenders make a ton of money. Not everyone wants to work in an office or a factory.
@@sidda7085 because you can easily make $700 a night working at the right place lmfao DUH!!! Signed another longtime bartender/waitress who is doing just fine 🥳🥳
I'm still waiting for one pitcher to offer 0% of their company but they do get advisor shares.
Thats not how buisness works
That would never happen nobody gives you things for free.
I feel for some of these, I understand that most have worked on there projects for up to 5years but you gotta go into these with realistic goals. It’s better to have a piece of a big pie then own a small pie.
I know they wont off on the HTZ Hot Teaze one, but... look at Janine's hair. Like, that little woman did magic real quick.
i would say the last guy screwed up, he didn’t want an investment he wanted exposure
What if I forget my bottle holder. Do they have a product I can attach it to so its within reach?
The Party People guy is out of his mind.
“going to local pubs and door to door is too much for me” huh???? do you wanna sell your product or not???
The hair volumiser is a great idea I would use it edit and I also see hairdressers using it so much better than teasing the hair and damaging it i want one
I wonder if some of these companies went on knowing their valuation was unrealistic and looking more for the exposure from being on shark tank than an actual investment.
When the lady said she was dyslexic and the music got up beat I literally started laughing.
Steve: where you from?
Entrepreneur: SA Steve
Steve: I call bull!, im out!
Ok the second ones were tripping hard. That was funny. With the sharks on that lol
she should sell the ice bucket skins to restaurants! especially chains like olive garden! i worked there for 4 years & i know we would have loved using those! i would put a linen down under them but they’d end up soaked by the end of the meal.
Good idea, but way too overpriced. I would pay £2.99 for a bottle holder
Exactly!!
Those are two of the most attractive sisters I've ever seen in my life, with the granola company
you need to touch grass..
nobody caught that $16 granola?
who would even buy that
a lot of people do. they are usually vegans and health freaks and gym people and mountain people and outdoorsy people and so on.
Plenty of people. I wouldn't but if she can get it on health conscious stores that cater to that kind of product, it'll be within the price range.
I swear these people never watch the show. In every country, in every iteration, it is absurd valuation that creates their failure to get a deal. I'm always baffled how they don't know that!
Publicity sells too so I’m sure some of them do it on purpose just because they don’t want a deal just want people to see the product
granola girl is stunning
I think granola woman could do so well if she had the time and proper guidance to learn business and leadership herself. I hope she uses some of the money to pursue an MBA or something that benefits her, because she's done amazing without even understanding the foundations of expanding a business. She also seems to underestimate how much she can do ("I'm not good at computer stuff") when she basically launched a brand all by herself with no assistance.
she was very impressive and skillful. a lot of people struggle doing all of that work alone while she did it single handedly with a disability. go her!
The last guy should’ve sold 20% to Jeanine. She would have been a huge asset
these aussie sharks are so polite
They didn’t gotta zoom into his face like that 😂
Lol Steve is such a grump, so they didn't drop balloons on him!😄😄😄
i've only just started watching the episode and need to ask if the couple who own hipsta have seen people with cargo pants/shorts, i once moved house without a moving trunk just by wearing 2 pairs of them and it only took 3 trips.
I love their accents. “Haytch tee zed”
Hey yo the thumbnail is incredible and a lot more than "PUTTING IN MONEY"! 🤣🤣🤣👌
Once 10% of Australians have a bottle holder they'll get their money back. What's the problem?
That would be a high bar to reach and too risky to invest 250k in that idea. Only way forward would be to expand to usa or other countries but that causes logistics issues.
😂😂
As an up in coming business owner, I suggest everyone to go see a business mentor they will help you to see if your business is viable
In three minutes Janine went from HOT to SMOKIN'
Her hair really did look great.
Some people never learn. Value the business at what it actually is worth not what you want it to be worth.
Glen is amazing 🤩
I could of use this having kids always wanting me to hold there water bottle 🤣
If someone sprays some unknown product on my hair and hot irons it when it’s wet, I’m going to make her eat the iron.
So why not re-evaluate the valuation and make a reasonable offer based on sales
Well under the rules of Shark Tank, they can't lower the dollar amount that they are asking for. They have to get at least the amount that they are asking for. So, if they're asking for too much money, then it is what it is.
@@josephwoodham3190 wat? There are no rules like that
@@Theoneandonlyearthhuman , yes, there is. Look it up.
@@josephwoodham3190 there are no damn rules
@@mohitdaheriya8712 , actually there is. That's why they never offer a smaller amount of money than what was initially asked for. They negotiate a higher dollar amount or negotiate the equity percentage, but they can't negotiate the dollar amount down.
Looks like Jennys OUT again.......
OnlyFans Free
@@videomegafree steves onlyfans????
The bottle will hit you all the time
Party store guy must have taken a hug hit these last few years, he came across as very nice
Hahahaaa the people with the bottle answered all their questions without really answering their questions. “How is your product different” “well.. it’s unique” “ok and how is it unique?” “Umm.. they look unique”’ ahaha! And it’s just SUCH a dumb idea. The ONLY place I could see them being useful are at like.. music festivals and stuff where you obv need water but don’t want to have to carry it around all day.
Khaleesi went from raising dragons to peddling paleo granola.
I cannot even imagine how the roast would look like on shark tank US
@20:00 The sharks aren't eskimos and she isn't selling ice. 😆
I was so happy for her!
Yeah...while I'm getting dressed in the morning, I'm going to put that hipsta thing on my belt and walk around like that all day, just in case I end up carrying a water bottle.
Can't they just negotiate for a lower valuation
They can, but they're not allowed to offer less money, so with a lot of these, they'd have to get 100% of the business or even that wouldn't be enough to make it worth it for them. That's why they say they asked for too much money.
I've got to say John is by far my favourite shark.
Make an episode on what they write on those books that they have
I have no idea what they do with it
They doodle 🤦
Notes. Reference purposes. Each pitch last for longer time than we see on tv. They might forget what they have said.
Also they have computation.
They also have this advantage and disadvantage, negative or positive things about the business.
Lots of numbers probably
I wonder if you can sue the accountant because at this point he gave you a professional opinion and if you’re not a business person you could argue that you went in with blind faith believing me account because your expertise is in being a beautician and I’m a businessman so you outsource that and if that evaluation class you cannot get a deal with the sharks that could potentially have you lose millions of dollars so you should effectively be able to sue that account when using his guidance cost you so much money
I’m not sure in Australia tbh. But I’d consider it too
to sue the accountant would mean that you are effectively arguing that you firm isn't worth much
@@henryreese7236 right, that’s the point. it isn’t but the account said it was and that Cost you the deal. You had that evaluation based on the accountants guidance. So you so the account because you only paid then for expertise trifle they’re wrong according to the sharks you might as well came up with an evaluation by yourself
Ey! Monday Food co, is good. Leave em alone! And Janine's hair actually turned out well! Reow!
The hair evaluation is dreaming its max value 600 000 us .my company sales 2.5 million with net profit 1million per year and I am looking for 4 millions for 100 percent
Who asked
maybe you can use some of that money to buy some english lessons
@@JhonSuarezSantos don't be sad
@@youngdebbis who cares about English lessons??
@@966makiaveli2 who tf is this guy???
Why didnt party guy counter with 200k at 10 percent with 200k loan?
Hair remover 😂😂
I don't understand why the don't invest 100% because the person was told false evaluations and numbers. They even say themsleves they didn't know much better since they are new to this, so why don't they educate her on what a more accurate evaluation would be, or make a more realistic counter offer?
I like the Australia Shark Tank so much better than the U.S. version
they be slayin
you cant mutiply 0
Burn
1st pitcher seems to not really know much about their cost or really anything number related. I'm HORRIBLE at #'s but I'm not an accountant or pitching to someone to give me a loan/investment for my product. I would get someone good with numbers to go over everything b4 I pitched, would be good money spent to hopefully make it worth investing in.
How many millionaires do you know who have become wealthy by investing in savings account? No one..
It's not how much money you keep, but how much money you make, how hard it works for you and how many generations you keep it for.
Interesting, most people don't understand the market moves and tend to be mislead in facts like this and always depend on Money in the Bank very bad idea.
I understand the fact that tomorrow isn't promised to anyone, but investing today is a hard thing to do for me now because I have no idea of how and where to invest in?
@@Elizabeth-fw2gu Crypto is a good investment if you want to gain direct exposure to the demand for digital currencies and the business they facilitate..I will advice you contact expert Nicholas Howard for professional guidance.
Oh so surprising as I'm happy to see Mr Howard mentioned here, My spouse recommended him to me after investing £4000 and he has really helped us in times of this bad pandemic crisis here in Australia.
6:35 that pause was so awkward
K these were nuts. Side note: is Canada the only country where the term 'eskimo' is considered a slur? I was surprised when the ice skins woman said it.
We've been doing the "hipsta" thing since the beginning of time. We don't need an invention to help us out any lol...
She looks fabulous in that blue
The sharks were actually nice
Good for them i swish them the best
I reckon they did the valuations themselves and have said it was a friend or accountant cos it's an easy out. They're entrepreneurs, jack of all trades. They would have done the numbers themselves, add in inexperience and a little ego and that's what you get.
Insane valuations!
36:10
Good on ya Glen
I'm an accountant. If someone comes to us and says 'I can deliver 500 units in year 202x and 700 units in year 202x, then we can provide a costing forecast, profit per unit, cashflow forecast etc.
Typically we will base forecasts on historic records.
We are not marketers, we are not CEO of brands. We do not have in depth knowledge of washing machine manufacturing or peanut sales, or how to differentiate different products within brands. We do not analyse satisfaction or do trend analysis for future demand,
We provide tax returns, we do a forecast of around 12 months (based on information provided to us and historic costs). We can advise on profits on projected sales. We do financial returns within the regulations that exist, be it GAAP or whatever.
If some daydreamer comes in and says they forecasted that they will sell 1,000,000 million units, that's future based. We can tell them what profit they will make, forecast manufacturing costs at that scale etc to provide something realistic.
If an Entrepreneur blames the accountant, it's because they have provided a fairy tale.
That's why Entrepreneurs potentially will gain millions, whilst the Accountant gets a good wage.
Cheers mate 🇨🇦
I think they ask for those valuations because, either they don't know how to evaluate it or they thought that they should increase their valuation for the sharks
Jeez dose Australia have the worst accountants.
It’s hard to do math upside down.
How did the water bottle holder people, get on this show?
That bottle holder is a bit how do you do
@37:53 does no one find that weird?? or is that an aus thing?
Wow, Christine is absolutely gorgeous
Check out this amazing brand new invention, the blow dryer. We have sold 18 units and value our business at $19M, ok? 😃
Well to be frank I have no idea how someone could evaluate their company at for instance 1.25 mil like with Hipsta when their income is about 80 k and then go oh it's growth potential in like what 5 years? I mean your company today at your very best growth potential which would be about 300 % since your growth potential is normally done by taking 80 000 - 20 000 / 20 000 = 3 then 3 x 100 to get %. So in this case the very best valuation of their company would have been 240 000 but somehow they came up with a number x 5 that?
Yeah it might be a mistake by their accountants but at the same time it feels like this is a thing the owners has to know while doing a pitch or the investor won't wanna touch it since they don't believe you have any idea of what your talking about. Since in short their asking for more money then the company is even worth.
Why don’t they counter with an offer at whatever valuation they think is right and see what happens like glen did more often? In America the sharks will make an offer at half or a fraction of the valuation asked all the time.
Are the sharks in the hallway real or is that a screen
These values are always ridiculous on these shows. Initial investors takes the biggest risk, and fact is that most are trying to sell their idea and never work on it again after making the bank. Thats why initial investors wants majority of the shares so they can take care of their investment. If you put 20k and some hours into business, doesnt magically make it worth 2mil.
That woman with the ten-million-dollar valuation is a fugging nutball.
Why don't the sharks make them a lower offer if they think it is over valuation?
Because it shows they don't know their numbers and can't be worth working with
Also it's the rule (of shark tank, dragon's den, etc ...), That they should get the full amount that they are asking for.
So they can only raise the percentage or sth I guess, as opposed to giving less money.
When the sharks see any company valued over $1,000,000 in the Australian Shark tank, they have a heart attack, meanwhile every company in the USA shark tank is expected to be valued at least $5,000,000 and the sharks don’t blink an eye.
bcoz population of usa is 300 million and australia 23 million.. u will be really bad at business dont start any
Does the production team go through some vetting before bringing them up on the show?