Shark Tank stars’ best investments revealed

IT’S been a feeding frenzy as our Shark Tank stars haggle and bargain their way into budding businesses. But do they always pay off?

IT’S been a feeding frenzy as Shark Tank’s entrepreneurs haggle and bargain their way into budding businesses.

But do they always pay off?

Our sharks, Naomi Simson, Steve Baxter, Dr Glen Richards, Andrew Banks and Janine Allis

nominate the best investment they’ve made on the show.

Steve Baxter, tech start-up multi-millionaire:

Car Next Door, which allows car owners to rent out their vehicles, is my best investment from Shark Tank. Will and Dave are fantastic founders, they have built a solid business, they communicate well and are solving a real problem. This was an easy decision and has been a great investment.

Since making the investment the business has grown in terms of traction, customers, vehicles and revenue. The founders manage using data and a rational approach to new products and features. They are a pleasure to work with.

Brisbane Start-Up guru Steve Baxter knows where to put his money. Picture: Jack Tran

Naomi Simson, founder of RedBalloon:

Vegepod, raised garden bed kits that allow you to grow vegetables in an outdoor area, I consider my most successful investment (but it is still early days with the others — and I am not supposed to have a favourite). I remember sitting on set listening to Matt (Harris) pitch us his capsule. He told us that his invention would ensure that anyone could produce a ‘crop’ of their own goodness for their family — even if they lived in an apartment.

As I sat there wondering if the other Sharks were going to steal this absolute gem from me, what Matt didn’t know was that my husband and I have our own little vege patch and we were just about to harvest our spinach that morning — I was in.

Shark Tank judge and RedBalloon founder Naomi Simson likes to help those she can. Picture: Richard Dobson

No business is ever set and forget but Vegepod have outperformed on their post Shark Tank targets. I’m really proud of the effort, energy and sheer single mindedness of the team. From establishing distribution partnerships to collaborating with Jamie Durie as a brand ambassador, Vegepod has grown remarkably and is now shipping worldwide.

What I love most about this GROWTH story (I am so funny) is that these three men, with a bit of guidance from me, have created a movement; people who believe in what they believe in.

Glen Richards, veterinary surgeon, founder of Greencross Vets:

I have a number of active Shark Tank investments that are currently growing quickly. To ask to choose my favourite is a little like asking me to choose my favourite child. Greg (OneWorld), Marc (Rhinohide), and Tom (SofiSpritz) are all great guys to work with, willing to listen to opinion, tenacious in their pursuit of our goals, and passionate about their businesses but probably of all my investment in Season 2 (last year) I am most impressed with, it is Get Kids Cooking, a kitchen cart which is a portable teaching kitchen that has an oven, cooktop and is full of cooking tools for a class of 30 students.

My original interest was due to how well Joanne Bowskill and Holly Boal pitched on Shark Tank. They had a long term vision with supportive financial forecasts, an exciting program to help improve nutrition in kids across Australia, and they had an innovative patent-protected product as the Kitchen Kart.

Dr Glen Richards has helped different business owners who have been on Shark Tank. Picture: Claudia Baxter

Joanne and Holly put in an amazing number of hours each week yet still manage to keep a balanced life with their families, they never lose their optimism and passion for the business, and they continue to be disciplined and focused entrepreneurs. They have grown top line revenue over 350 per cent in the last two years, they have expanded their cooking programs into multiple schools, expos and shows across Australia, and continue to explore overseas markets for their kitchen karts and cooking programs.

Andrew Banks, founder of recruitment firm Morgan & Banks and Talent2International:

I like all of my investments so far but we will know which is going to be the big one in a year or so.

However, the Ham Dog investment - a sandwich that consists of a shaped bread bun with a beef patty cut in two, and a frankfurter placed in between the two halves which is then topped off with cheese, pickles, sauces, tomato, lettuce and onion - will be hard to beat as a percentage. I only paid $2 for 50 per cent and some of Mark’s (inventer Mark Murray) offers - which he so far rejected for the global franchise have been impressive. But more recently the fast progress CancerAid, an app that empowers and connects patients and care givers, has made in just the past few months could make it a biggie - it has just got a deal with Phillips in Holland and is going gangbusters.

Shark Tank iudge Andrew Banks is still watching his Shark Tank investments. Picture: Stephen Cooper

Janine Allis, Boost Juice founder:

I believe that many of the business that I have invested in are great, and because of all the learning and growing that each of the business have done since we first met, it is hard to narrow it down to one.

But if I had to, the one that I am most happy with is the Scrubba Investment, a portable washing bag with a built-in washboard.

The reason I jumped on board in the first place is that Ash (Newland) had the x-factor and you knew that he would do whatever it takes to make the business work.

Shark Tank judge Janine Allis likes to work with people who are easy to work with. Picture: Stephen Cooper

Ash is also a qualified patent attorney lawyer which is a massive bonus, as I knew that the patents and trademarks would be solid.

Ash knows the sacrifices that it takes to make a business successful, he watches every dollar from camping out in Germany for the expo to ensuring every dollar spent is a dollar to grow the business. I regularly receive updates and reports which include a good mix of growth plans and his financials are accurate and always meet his budget. Ash does all the things you need to do to scale the business … Ash is a delight to work with and I learn as much from him as he does from me.

Shark Tank Airs Tuesday, 7.30pm on TEN