Shark Tank panel stunned by billion-dollar guarantee
AN impressive billion-dollar promise from a nervous pitcher proves a little difficult to back up in tonight's episode of Shark Tank.
Perth's Mick Ryan, 46, is the sole founder and director of Mickey Blue Australia, a company that sells portable generators for caravans and campers.
While he's confident he can wow the Sharks and leave his pitch with an investment in his business, he also admits he "hasn't slept in three days," such is his nervousness about making the most of this opportunity.
Ryan, whose generators retail for $1899 dollars a pop, is seeking an investment of $2.5 million for a 50 per cent stake in his business.
Then comes the statement that leaves the entire panel stunned:
"For that, I want to promise you: I will be the next entrepreneur to make you a billion dollars."
Or the first, even. It's a massive pledge from a small business operator selling somewhat of a niche product.
"The first one-billion dollar business on Shark Tank. That's a big, big audacious goal," says Boost mogul Janine Allis.
"One of my hobbies is planning for an apocalypse, so I look at generators quite a bit. This is quite expensive for a generator," says a sceptical Steve Baxter.
Ryan also owns and operates a camping store, and it's here that his pitch hits a snag. As the Sharks attempt to drill down into the finances of his generator business, he seems unable - or unwilling - to separate those figures from the profits generated by his store.
As his pitch becomes more muddled, Steve lays down the law.
"OK, Mick, do me a favour mate. I'm going to ask you some questions, and can you please do me a favour, because it gets really hard to understand what the hell you do," he tells him.
"Is this offer for the generator and the store, or is it just for this product? If you can answer that question, that would be great, just so we know what we're investing in," says Janine.
With his billion-dollar promise still hanging in the air, can Mick get back on track and entice the judges to invest?
See his full pitch in Shark Tank, airing 8:45pm tonight on Ten.