Shark Offers $1.5 Million For 100% Equity Of Andrew's Seat Belt Safety Business | Shark Tank AUS

The next to enter the

tank

is an entrepreneur who thinks his

business

is a safe bet. I hope the Sharks brought their fat wallets. I think I'm in a hurry. Good night

shark

s. My name is Andrew Murray. I am 53 years old. Alive. Tonight in Sydney we are seeking $390,000 for 10% of the Buckle Me Up company. Thank you for the opportunity to present Buckle Me Up, which was conceived by a group of firefighters a few years ago who had seen first-hand the children's tragedy dead or injured. In car accidents where

seat

belt

s were not fastened, there are more than one billion cars in the world today traveling on our roads and 98 percent of those cars have

seat

belt

warning devices in the front seat, but 87 percent of cars don't have them in the back seat, where our precious cargo trips Buckle me up is a paid haul around the world, the first in history Wireless retrofittable seat belt alarm and security system The tip of the knee clicks into the seat belt buckle like a neat.

Buckle me up and it pairs with your smartphone through a free app that will alert the driver. of the car the person in the back seat and the buckles are coming out can also be used in other applications such as on school buses so

shark

s buckle me up you will never look back well done Andrew and that's valuing your

business

in three point nine.

million

dollars three hundred and ninety thousand for ten percent Wow, so I guess you better show us how it works. What I'd love to do is invite two of the Sharks to sit in the back seat, so who wants to go up front?

Well, your little one. I'm in the back seat with Janine, just buckle me up and shut up, so for the purposes of this exercise, Stephen Janine, these are my kids in the back seat. Now I hit myself and this will tell me through the green signal that Two of my passengers are buckled, so now Steve, you are a naughty boy, you dropped your toy and without telling dad you have to choose your Twitter, so now what we see is a picture on my smartphone because Janine admires her elder. monkey brother, look monkey, do it, Janine, unbuckle the belt and we'll see Janine turn red too, oh my god, these kids are out of control, hey, I liked it, it worked.

I remember driving thirty-four thirty years ago with my five-year-old son in the back and I turn a corner and suddenly the back door of my car opens and my five-year-old son takes off his seat thinking why he dropped it. hat to the ground he grabs the seat belt I'm hitting the brake and I get out of the car and he's under the back wheel and he's a long way from going over and I'll never forget that vision, it's Kerry, this is a great product, there's amazing problem out there yeah 107 hello Andrew how are you? You who think this product is ready for the market and works 100% of the time, this product is one hundred percent ready for the market and we have it fully accredited.

How much have you spent to date? Well, today we spent more than two

million

dollars. in my house that I sold to put it into this business. Wow, okay, hi Vika, that's a lot of Japanese sales so far Andrew, yes, we have an order from a big bus company. We have ordered 200 buses to be installed, how much does it cost? fact $1.9 million Wow, so are we investing in everything we invested in the operating company? The intellectual property is a complete group or there are parts and we reserve the investment. Okay, what you're investing in is buckle me up Pty Ltd, yeah. you have 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 own it, you have the use of it, we don't own the intellectual property, so you own the patents, so that's in one company, yes, and then another company is licensed, called Buckle Up, to use it, so this one pays royalties to that other company, yes, to use it, yes, right, how much is it per purchase?

Yes, at this point, for starters. It's 5%, so who owns this company, not me? Okay, so you're offering us 10% of another company, right, that's not going to work out well, no, you're basically asking us to pay you for this but not get any real beneficial ownership in it and you've taken five dollars. saying clip, it's actually a bad deal, so it's a national fact that we made a deal together, we could be burning cash at 100 miles an hour, so we could be losing money and you say, okay, I'm still By earning five percent you can make millions and we could be losing money.

The reason I didn't put a full Espada Chrissa. The uncertainty associated with the future. We would still be completing. No. You thought you could take money away. top line and you would be fine 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 everything really remember I also have 90 percent spinning so if you are suffering 10% . It hurts at night. You're still five percent off the top, so what you're basically saying is that you should feel sorry for me, Rob, but this is half of the smallest players in the world. you're right for your heart for your broken heart that doesn't matter this is an investment right why are you trying to do that to us? why would you want that from an investor why be complicated and whenever a complicated structure is established the first thing is Most of the body's senses are activated.

Something has been involved. Someone wants to do me a disservice. Andrew, I might hit you where I am in the business. I think if things are really struggling and they're just grinding their gears, there's often a reason and in this case. In fact, I think the reason might be that you have an unusual build and just looking at you and listening to you I wondered if I could 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 everything to be friendly, transparent and direct.

If I have to look for things, I can't work with you. My mouth, we just saw the entire company take your patent. just sell the entire company. I think that to invest money in this business I prefer to have a very, very large site, which means being an owner like in the parent company. I'm talking about everything I need to operate this. About yes, I'm sure it would be the students who would say that, so I will make an offer for one hundred percent of the business. I want to pay you 1.5 million dollars. Suspicious Andrew is asking for three hundred and ninety thousand dollars for ten percent off his seat belt.

His complex business structure, so we don't own the intellectual property, has caused two of the Sharks to pull out, but Steve has made a $1.5 million offer for 100 percent of the Sharks business. he. I prefer to have a very, very big site, that means I just want to thank you, thank you for the offer. I want to see if they are right. Any counteroffer I'm more than happy to accept for you to entertain amateur amateur hour in the end, when I do business with people, it's actually like that. 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 its core, our business is built on trust, so for this deal, I'm dating three sharks, I date two sharks. gone Andrew I think your product is very relevant, but for me today it is not an investment, so a mountain of thanks.

What are you going to do? There are a lot of things to think about, but I understand that I am here to consider

offers

and students, maybe one. We're actually here to make deals, not just consider them, the clock is ticking because the more I look at these numbers I worry, why heaven, why isn't this an amazing life, so everything was done the way it's supposed to ? small fee to start in the form, right, you are not in this deal, there have been a variety of reasons, right, all that, I don't know, do you believe in yourself, Andrew Steve, what I would accept is a 100% take of One billion dollars.

I care, if anyone can take over this business it's Steve, I really think so and you could even give me a job that's up for discussion. No, I'm not going to negotiate against myself. You should have kept one of these four in the game, so if you're up for it. We're probably not going to meet, that's where they are, yeah, I wish you all the best, thank you, well Andrew, good luck, it works, great job, thank you very much, Wow, Andrew, how are you feeling? That was a roller coaster. riding there, yes it was interesting, sometimes it got quite brutal there, how did you handle that look to answer as honestly as possible?

I made the deal, it couldn't be done, that's life, you move on. I think it was a shameless offer. Don't think he was brazen, did you see how quick he was to sell his entire business, that was a sign at least?