next into the tank is an entrepreneur
who thinks his business is a safe bet
I hope the Sharks have brought their fat
wallets along I think I'm in a nail
[Music]
good evening sharks my name is Andrew
Murray I'm 53 years of age I live in
Sydney tonight we're looking for
$390,000 for 10% of the buckle me up
enterprise thanks for the opportunity to
introduce buckle me up which was
conceived by a group of firemen some
years ago who had seen firsthand the
tragedy of children being killed or
injured in car accidents that were
unbuckle there's over 1 billion cars in
the world today on our roads and 98
percent of those cars have seatbelt
warning devices to the front seat yet 87
percent 87 percent of cars don't have
them in the back seat where our precious
cargo travel
buckle me up is a worldwide paid loot
first-ever Wireless retrofit seatbelt
alarm and safety system the tip knee
clicks on your seatbelt buckle like a
neat a buckle me up is paired with your
smartphone via a free app that will
alert the driver of the car the person
in the back seat and buckles are coming
out can also be used number of other
applications such as in school buses so
sharks buckle me up you'll never look
back well done Andrew and that's valuing
your business at three point nine
million dollars three hundred ninety
thousand for ten percent
Wow so I guess you better show us how it
works what I'd love is to invite two of
the Sharks to sit in the back seat so
who'd like to come forward well your
little I'm going in the back seat with
Janine just buckle me up include shut me
up so for the purposes of this exercise
Stephen Janine they're my children in
the back seat I now hit me up and this
will tell me through the green signal
that two of my passengers are buckled up
so now Steve you're a naughty boy you've
dropped your toy and without telling
daddy you have to pick your Twitter so
now what we see is a visual on my
smartphone because Janine looks up to
her older brother monkey see monkey do
so Janine you unbuckle
and we'll see Janine's also go red oh my
god these kids are out of control
hey I liked it it worked I can remember
driving down thirty four thirty years
ago with the five year old son in the
back and I turn a corner and suddenly
the back door of my car opens and my son
who's five years of age is taking his
seat thought off because his hat has
fallen on the floor he grabs hold of the
seat belt I'm hitting the brakes and I
get out of the car and he's under the
back wheel and it's this far away from
going over it and I will never forget
that that vision
it's Kerry this is a great product
there's an amazing problem out there
yeah 107 hi Andrew how are you who think
he's this product market ready and does
it work 100% of the time
this product is a hundred percent market
ready and we have have it fully
accredited what have you spent to date
well today we've spent over two million
dollars it was in my home which I've
sold to put into this business
Wow okay hello Vika that's a lot
Japanese sales so far Andrew yeah we've
got an order from a large bus company
have ordered 200 buses to be fitted out
so how much is that done 1.9 million
dollars
Wow so are we investing in the
everything we invest in operating
company the IP is it it is a whole group
or are there parts and set aside the
investment okay what you're investing is
it's buckle me up Pty Ltd yep which has
the sole and exclusive license to use
the patent worldwide for a seat belt
application so we don't own the license
we don't we you have the use of it we
don't own the IP
so you own the patents so that's in one
company yeah and then another company is
licensed which is called buckle me up to
use it so this one is paying royalties
to that one yes to use it yes correct
yes how much is that it's a per purchase
yeah at this point to start off with its
5% so who owns this company not myself
okay so you're offering us 10% of
another company correct
that's not gonna fly right no you're
basically asking us to pay you for this
but to get no actual effective ownership
of it and you've taken a fiver saying
clip it's actually it's actually a poor
deal so national fact we cooked together
to a deal we could be burning cash 100
miles an hour so we could be losing
money and you're going that's okay I'm
still making five percent you can be
making millions and we could be losing
money the reason why I didn't put a
whole Espada's Chrissa the uncertainty
associated with going forward we'd be
yet to be completed no you thought that
you could take money off the top line
and you'd be okay and the risk is with
us you sit on the beach you do nothing
for it you get 5% of the sales and we
take all the really remember I've got 90
percent spinning in as well so if you're
hurting a 10% I'm hurting at night you
still got your five percent off the top
so what you're basically saying is you
need to feel sorry for me Rob but this
is a half the smallest on the world
playing for you right for your heart for
your broken heart that doesn't matter
this is investment right why are you
trying to do that to us why you'd wanted
that to an investor why be tricky and
whenever a tricky structure gets set up
the first thing most body senses go
something's been in the on someone's out
to do me a disservice
[Music]
Andrew I could hit you where I am at in
business I think if things are really
struggling and they're just grinding its
gears often there's a reason and in this
case I actually think the reason might
be you you've got an unusual structure
and just looking at you and listening to
you I asked myself could I work with you
and I'm sorry the answer is no so for
those reasons I'm out
I'll tell you where I am when I work
with people I like it all to be nice and
transparent and upfront and if I have to
dig for things I can't work with you my
mouth
[Music]
we just saw the whole company take your
patent we just sell the whole company I
believe that for me to invest money in
this business I prefer to have a very
very large site that means owning it as
in the parent company as well I'm
talking about everything I need operate
this I'm talking about yeah sure I'd be
the students telling that so I'll make
an offer for hundred percent of the
business I wanting to pay you 1.5
million bucks
Andrew leery is asking for three hundred
and ninety thousand dollars for ten
percent off his seatbelt safety business
his complex business structure so we
don't own the IP has caused two of the
Sharks to bow out but Steve has made an
offer of 1.5 million dollars for one
hundred percent of his business I prefer
to have a very very large site that
means only
I want to thank thank you for the offer
I wanna see if they're right any counter
offers
[Music]
I'm more than happy to took for you to
entertain the amateur amateur hour down
the end there when I do business with
people it is actually a partnership this
is like a first date but then we go on a
journey together and ultimately we want
to get married and create something
great at the core our business is based
on trust so for this deal I'm out three
sharks are out two sharks left Andrew I
think your product is very relevant but
for me today it's not an investment so a
mountain thank you what are you gonna do
there's a lot of things to think about
but I understand I'm here to to consider
offers and students maybe one we
actually are here to do deals not just
consider them the clock is ticking you
because that the more I look at these
numbers
I get concerned as what why heaven why
isn't this an amazing life so everything
actually done what's supposed to I think
he's little fee to start at the shape
right you're not in this deal there's
been a range of reasons right all that I
don't know you believe in yourself
Andrew
[Music]
Steve what what I would accept would to
be a trillion-dollar 100% take care if
anyone can take this business it's Steve
I really believe that and you might even
give me a job
[Music]
that's discussion no I'm not gonna
negotiate against myself you should have
kept one of these four in the game so if
you're up to we're probably not gonna
meet is that where they're at
yeah I wish you all the best I'm ass
thanks good i Andrew good luck it works
it's a great work thank you very much
Wow
Andrew how you feeling that was a
rollercoaster ride in there yeah it was
interesting it got pretty brutal in
there at times how did you handle that
look to answer as honestly as I can
I have rolled the deal couldn't be done
that's life you move on I think was a
cheeky offer I don't think was cheeky
did you see how quickly he went to sell
his whole business that was a sign if
nothing for
[Applause]
[Music]
[Music]
[Music]