Shark Tank millionaires consider Australian property website
Shark Tank, which premiered on Channel Ten on Sunday, hosted by Sarah Harris, took a look at a property website among its mentoring considerations during the opening episode which was watched by 616,000 viewers.
Shark Tank features five successful Australian business people, all hunting for the next big idea to turn into a profitable co-venture, including John McGrath from McGrath Estate Agents (pictured above, far right).
The self-made multi-millionaires judge the business concepts pitched by the owner and then decide whether to invest some of their own money to help market and mentor each. The pitchee must convince a shark that their idea is original and the product worth pursuing.
Shark Tank's panel of prospective purchasing entrepreneurs Janine Allis (Boost Juice), Steve Baxter (internet pioneer), Andrew Banks (Talent2), and Naomi Simson (Red Balloon).
The Sharks – worth collectively more than $1 billion - debate, argue over and judge the products and concepts brought to them.
The website is rentresume.com.au which was founded in June 2011 by Darren Smith out of the frustration and repetition involved when applying for a rental property.
"I thought there must be an way to make the process a lot easier, rewarding, smoother & safer for all concerned," his website says. The series launch on Sunday February 8 saw Toowoomba resident Darren Smith frustrated - having ambitiously wanted $2.5 million for a 40% stake in the subscription service for tenant rental histories.
There were presentation issues during the pitch.
“I’ve seen some worse ideas but not many,” John McGrath said.
Photo: A shot from the opening episode of Shark Tank. Source: Channel Ten.