Sharks Jealous of 21 Year Old's Unbelievable Monthly Income | Shark Tank AUS

if you use this one tonight, first in the

tank

tonight, a smart young businesswoman who doesn't let anyone get in her way. My name is Bree Ella. I'm like any other 20-

year

-old girl. I love going out with my friends going to the beach. and, above all, I love shopping, what do you think? I always wanted to have my own business, even from a very young age. I came up with this business idea from personal experience, so it helped me, my friends, and hopefully a lot of other women. Australia, this 20-

year

-old is ready to conquer the world.

Hi, my name is Bree Ella and I am the founder and director of Ella's Closet. Today I'm here looking for an $80,000 investment for a 20% stake in my business. Let me introduce you to my beautiful models. who will model some of my gorgeous dresses your closet is an online service that allows women to sort through high-end designer fashion from Australia's leading designers, including Camilla Marth Nikolas and Josh Group, for a fraction of the purchase price. Let me take you back to the Since two years ago I was invited to formal events in four weeks. First world problems.

I know and I'm sure you were all very aware that formal dresses are extremely expensive and the craziest thing is that we often only wear them once, that was driving my mom crazy. and my dad broke down and didn't even know the whole story. I launched the business in August 2014 and since launching I quickly realized that this business has some legs and not only applies to young girls who rent for formal purposes, but it applies to all women who want to look fabulous when most matters this includes going to the races new year's eve red carpet galas cocktail parties birthdays work functions and everything in between my vision for your wardrobe is to revolutionize the way women view special occasion clothing and normalize the option to rent I have the business where He is alone today, but I need one of you to help me enhance the

shark

s in his closet.

Are you ready to dress for success? Well, a great presentation, Briella, was it? Great, a woman can rent. a dress for a fraction of the cost of a fraction of a thousand dollars, tell us that we rent our dresses based on a percentage of their retail price, so it's about 18 to 20 percent of the dress's retail price, so that if a dress It's a thousand dollars that we have rented for about 180 to 200, so quickly, how it works, you go to your closet website, see our wide variety of dresses and from the latest designers, you choose one that you love and then you choose one. delivery date, the dress arrives to you in a pristine box that looks amazing, you then wear it to your event and then on the fourth day you simply put it in a pre-addressed prepaid wallet and deliver it to Australia Post.

Sounds pretty good, we'll take care of it. the dry cleaning is fantastic Briella very smart creative idea thank you how long do I have to wait? Suddenly I was invited to an event. It was very short notice and I need the dress quickly. What is my minimum wait time if you are in? Sydney 3 hours. I will go immediately and then other capital cities one day so we can send Express to travel the next morning. What is your size range right now? It's 6 to 12. Now the average woman is a little bigger than that. there are between 12 and 14, are you cutting a lot of your market right now?

Yes, they are looking to expand this over the next 12 months. You know, I'm sorry, I'll stay away from Briella. I'm from Manley on the northern beaches, oh. no I look good great so I can do some of these functions you go to like races and formal events for example there may be some depth especially the races there may be some damage to the dresses how do you handle it that? How are the links made? or the locks work, what happens there is about one in two of hydrogen, so half a percent of the dresses come back damaged.

The women appreciate that they are beautiful dresses and treat them well, but what happens is that the internal ones are damaged, in that case the client. She is asked to pay a small fee and then assumes full ownership of the dress from him to pay the other ninety. Sorry, I make two percent, that's right, yeah, and then we send you that dress to enjoy, poor guy, sorry, you said small fee, so if you only pay twenty percent of the dress and a thousand all the dresses, small fees I $800 I guess that's one way to hurt it, but it's not like that, basically, yeah, that essentially depends on you owning the dresses.

Yes, how did you get the shares? In fact, I took out a personal loan to finance the business. I must have $82,000. Oh, I'm 20 years old. You are doing a great job, well done. Thank you. What is the value of the dresses you have in the business? $200,000 Where do you keep them? This is one that is outside my house right now. You must have an extraordinarily large wardrobe. I have turned Billy every room in my house into a house. Dawson's parents must be very accommodating. Oh, that can be incredibly supportive, so let's talk. about the

income

so far, let's say the last three or four months, month by month, what was your

income

? 35 35 and 36 thousand yes and what it cost us there, of course, our profit is about 55 percent of the revenue. white no at this time any salary income that has come in is reinvested in the business.

I have two daughters who go to formal events. I tell you that I have felt your dad's pain this year for me. I don't think I've had much value as a partner for you and that's what you need, someone who understands the fashion industry and partners with you to help you scale this quickly and own this space in the Australian market and I think What he has done to date is sensational, but here you give a comment, Briella Wow, 20 years old. I'm embarrassed by a couple of calls. I was doing a 20. Wasn't this? It's thirty-five thousand dollars a month.

Is incredible. I have had many similar clothing markets, shoe markets, God knows. what fashion market is presented to me and they think they have a lot of problems answering the questions that you have actually shown are probably not problems at least in your model. Anyone, I'll just take a break. Never think it's excellent. What else is going to happen, ladies, you are the experts in this area? Look normally, if it's something like $80,000, it's not worth splitting it with. About 144, not worth it in this case, however, I am strong in digital marketing, but not strong Allah Geist -ax Actually I will go if Steve helps me.

In fact, I'll make a deal with Steve if you get hit, you'll take it. The deal will be $80,000 for a 30% split, right? going online ste I was trying to see him for an act otherwise raela Brown is seeking $80,000 for a 20% stake in her formal dress rental business your closet Glenn is out Janine has made an offer, but it's on the condition After Steve joins me, are you going to say that Steve just wants to work an act in another hot game? Okay, hold that thought Noemi, are you ready to start? If I were to make an offer, it would depend on us actually making sure we do it. approve the logistics because right now it is literally a home business and you and your family will implode if that is not fixed very quickly you have asked for $80,000 I would be looking for 40% of your business is fine so $80,000 for the 40% Janine, tentative $80,000 for 30 percent, assuming Steve can go with her.

Your annual look? I think you are amazing and you are amazing. You have what you have done. You have an excellent interface. Look, the idea is great, the website is great, but you are a bit like Amazon, little Amazon, you have huge logistics and that will take a lot of administration time and will also hurt your margins as you grow. Those reasons why I'm out, but I really wish you the best, thank you like it's nothing, but you're going to be the president of this business. One of the big problems I have is that fashion doesn't work if everything you should do.

Try to get those two together at 35%. That's the deal you want from this entire

tank

. I'm out if you want. I can help you negotiate with them. Thank you so much. So, Janine, could you come in with me, but I want to? 40% yes, I would certainly love it if you wanted

shark

s at 20% each. Please have a minute to talk to my dad, of course, thank you now, enemy, so it didn't go well for you, well, yeah, like in the office that I have. What I've gotten so far is Janine and I haven't learned anything about women.

I've offered forty percent, twenty percent for each baby, a thousand dollars, right, what an incredible young man. Both can add significant value to that business over the course of the foreseeable future. Are you going fifteen percent each for thirty percent first? Hey, money, now I can see the house, okay, bedrooms full of clothes, oh yeah, you talked to your dad, yeah, and what did he say? What do you think I'm proposing 30%, so 1515 for the $80,000? I trust the growth of the business in the idea of ​​​​my passion and I believe that the skills that I can bring, that is your counter offer, yes, that is my More or less I thought it was 80,000 for 30%.

Yes, the reality is that we also have to go back and forward because right now you are at home, so we have to get there. There has to be a warehouse. more personal, so there is quite a big execution risk, because by generating losses, the other thing is that we actually know that we are going to have to invest more money in the business, whatever it is in terms of loans or what Whatever it is, because we're going to need dry cleaning at the storage location so you don't have that as a cost and those logistics are really critical to your growth and unless you do it right and you know what your life is like right now, you won't.

It is not like that, I know that and that is not sustainable, so the investment that will be necessary to establish it will require more capital and yes, to the business women who have been there, that there is a We are bringing a lot of experience, not just money in cash, what I would also like to suggest is that you know sweat equity as you said you won't get a salary but let's actually calculate as we go and then you can get equity for your sweat as we go so you understand that they are saying because you are working in the business, yes, they will give you the opportunity to get back some capital, some shares, based on your service as CEO driving the business and that's what I did with my business, take a reality before Ella, you are making the decision about how valuable the rest of my capital will be in two years if I go with these people or if I do my own thing, make your call.

Let's do it, good decision. Oh my goodness, congratulations, let's grow this business. I'm your girl, right? That's huge, can you even understand that kid? I feel like this is a dream right now. I don't like it, oh my gosh, laugh girls, we can really grow a young entrepreneur, she's going to be amazing, she's good, she's a rocket ship. Let me tell you