Sharks Blown-Away by Cutting Edge Micro-Retailers | Shark Tank AUS
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- Опубликовано: 14 окт 2024
- Working as a physiotherapist in a shopping centre, Stanley Hsu noticed the trouble retailers faced with high rent, wages, and risk but his business My Cube is looking to change that. Stanley Hsu & Lestari Vickers are seeking an investment of $200,000 in return for a 5% equity stake.
An international sensation, Shark Tank AUS features entrepreneurs pitching for investment in the Tank from our Sharks, five venture capitalists willing to invest their own money in exchange for equity.
As Seen On Shark Tank Australia Products: amzn.to/2ZJBbyf
Shark Tank US Products Collection: amzn.to/3bMNjmI
#SharkTank #Retailer #MyCube
I have been watching this show non stop it’s like addiction not sure why I need to stop.
Same here lol
save me.
It's funny that when I watch a couple of them and, then RUclips recommend the ones that I have watched already.
I said it's over.
When came back the next day, I found new clips waiting to be watched.
Whaat?!!!
….I’m on day three…
i know im randomly asking but does any of you know of a trick to get back into an instagram account??
I stupidly lost my login password. I would appreciate any tricks you can offer me.
That lady is so humble and easily loved, deserved the offer.
The offer wasn't to her in any way shape or form really. No sort of shares
@@James-iw2pr she was still so excited though. Hope Great things come to her.
Not to mention she is hot as fuck
Hope she’s gets stock options on the startup!
This is one of those ”Why didn’t I think of that” successful products
closed in 2019 tho
@@Mecsow what really D:
Its actually a concept that's been around in other asian countries for a good few years now. I've personally seen this exact concept in Malaysia, Singapore, Brunei, Hong Kong and Thailand. Its probably in other countries like Indonesia, Philippines and others too.
@@milotin yup, out here in India too.
@@milotin I even saw this in NYC. Might have been chinatown but still ...
I actually remember going into one of these stores about 5 years ago and thinking it was so cool it must already be an international brand, surprising to see that it was only one of the first three
You really walked into a store and pondered about their reach? 🧐
@@tacocatseven if you have a business mind that’s something you do.
Glen: Are you married?
Lestari: Oh, us two? No no no no no... no no no, we’re not married.
Stanley: * well alright *
that's what i thought to. like, ok ok don't rub it in
She: "Ooohhh HELL NO!"
Stanley: *:/*
HAHAHA... We are just room parterners. HAHAHA
I read this comment as it was playing
@@commanderkeen3787 well he owns now 77.5% of a very successful business. He's a millionaire.
Her? she works for him.
She will soon think about that divorce LOL.
Barbara sent a telegram from the US to let them know she’s out
Jenny from UK also send a fax.. and she is also out.
🤣😂🤣🤣
@@khairulanam7777 lol
Lol!
LOL 😂
This has to be the most innovative thing I've ever seen! I love this idea. Normally you pay the rent and buy your product to sell. With this model the small retailers literally pay you to put product in your store. As they come and go you have an automatically rotating stock that you don't have to manage.
We haver stores like this in Brazil for years now. It wasnt this guys Idea.
This idea is from Japan , it's been all over Asia for decades
Austria has them too
"Great idea, good business, you ll make money" I am out - Australia Sharks
@Shark Tank Australia can u eeeee
theres a difference btw youll make money and an investor will make money. big difference.
Still better than shark tank US
Honestly makes sense tho... U don't need me... I don't need you... Gg
@@emptymindscreation Nah, US Shark Tank is the best Shark Tank.
Stanley would give Lestari his 90% if she asked. He's ready to risk it all.
Homie down bad
naaah, he on that sigma grindset
I love how Andrew never makes an offer yet is the one who talks the most 🤣
He’s only here to see which business he will be able to take to USA , so yeah
all of these sharks have niches, which if you learn from watching after a while, makes it kinda easy to predict who is likely to invest after seeing the pitch
Never makes an offer? You havent seen many episodes yet...
@@zenilpatel1456 naomi 👁 👄 👁
@@kevinnewman1214 she's poor compared to other sharks , just there coz the show is good for her trp
I think if he countered with 10% he was still gonna get it
yea im a little mad he didnt counter
@Shark Tank Australia Scam, watch out viewers.
@@christopherclayton7390 It is a fake account with No Subscribers
yes.. he put it 12.5% already expecting him to say 10% but he didnt.. so good for the shark
I agree. If you listen right after he accepts the deal and they all get up, you hear him say “you could’ve countered”!! 9:25
Everyone is so nice in the Aus version of Shark Tank.
Miss this shark tank Australia
I can only wish to get an "employee!" Like that when I start a business... She is very passionate and dedicated to her work! She doesn't even have an equity in it! And a mom of twins! Wow!
Go Lestari Go.... Truly inspiring
"30 months" old...haha.
I'm 350 months old.
Time to start using years.
13 not 30
It's more precise during a time when they're growing and changing very rapidly. Imagine if someone was like "You're 28? Time to start using decades" even though 28 is so different from 20. Just because you don't care about the difference doesn't mean it doesn't exist lol, get over it
These are really common in Asia, we have been having these for decades mostly in populated shopping area. Sometimes the whole building or shopping mall is packed with these cubes.
where did you think stanley got "his" idea from lol
Andrew: Sounds like your going to make lot of money and for that reason i’m out
He's prejudiced.
@@funsky77 His main Thing is bringing products to the USA, and not generally a more complex structure like this even if they were aiming to hit the USA market. People specialize
The way she laughed when asked if they were married lol....
Ooh no no no .. not married with this guy ... no way . Noo
@@gryphon7314 I don't why people are making it seem like that's what she meant. They are /both/ married, she backpedaled cause she accidentally misled them, and she just had twins, the same concern about being misleading happened with the guy too, possibly for his wife, he just didn't rudely interrupt her, but it's definitely in his body language
After I watch a couple of these shows, for the rest of the day I talk to myself in a funny Australian accent 😆
me too! lol
Gidday Mate has become part of my life now😂
So Funny, love your comment.
What accent??? :p
Hong Kong has been doing this for over ten years. This concept isn't new. Lease are expensive in Hong Kong but having a small cupboard allows you to sell things offset that cost
I don't know about Australia but the empty retail space in the US is huge. This is a really good idea and I bet you'll have local governments falling all over themselves with tax breaks if you can help them create traffic in brick and mortar stores. They are the life blood to most communities.
This made me extremely happy. Great pitch. Great people.
AGAIN GLEN AND THE PRETTY GIRLS
“Are you married?”
That guy is so into his co worker its so funny.
Leave the man alone 😂 he's still tryna get over how fast she denied them being married.
@@whiskeybandit573 4:54 cringe eeee lol
They're so humble.... But Please Learn the Art of Negotiation.
how many successful businesses and negotiations have you had ?
For all you know they could have entered already willing to give up 20%, 5% was a clear low ball and at that equity and expected growth they'll still make more than enough money, quickly, and be able to take a large portion whenever time comes to sell. Humble yourself
There was only only 1 shark left and it was Steve. Not much negotiating room. Pretty much 0
@@w00tb0ss theres always room for negotiation, regardless of how many sharks were left. They didnt even test the waters with a counter offer
@@originalrbp2869 ya but i think steve gave a fair offer and to negotiate over a few percent would be pointless. For sure make a counter offer and if he says no then take the offer as it is. But... when one shark. One offer. Not much negotiating. Take it or leave it as they say.
Amazing idea to help promote small micro businesses who don't have the income to open their own retail store.
Dude that lady deserve at least 5% of company.
Innovative idea, solid founder & clearly defined mission ✔
Well done and congrats on the deal 👏
i can feel that guy Feeling,
Marrying someone else, but still loving them!
😭😭😭
I'm trying not to be a pig, but....that women is the epitome of super cute!!😎
This cube business has existed in my country back in 2014-2015...nicely done.
Great idea, never thought that on a shark tank product lol, I loved flea markets in florida (the old school ones not the new every junks the same) and this is basically rando stuff but more highend and in a mall.
I didn't expects everyone else to drop so quickly
Lol you can tell the owner is completely infatuated over his employee, too bad he ain't getting any of that juice.
It’s a brilliant idea. But I do wonder what risk there is of being cut out of the loop by the shopping mall itself (assuming that the company pitching in this video rents, rather than owns, the spaces in which the cubes are located).
Am I the only freaked out by Janine's smile?
@Shark Tank Australia Thank you
Me too it irritates me
Seen this at asian malls like 15 years ago
Dude I’ve seen it in Iraq as well it’s far from new but it’s profitable so whatever
lol yup. most aussie entrepreneurs pretty much steal ideas from the rest of the world.
Seen it in Hong Kong, Singapore and Vancouver about 15 years ago as well. Then Amazon came along and guess what happened?
This is the best offer Steve has ever made in the Tank!
Shes amazing...
She barely said a word
In 2021 their homepage isn't working and their last tweet was in 2019 so I guess it didn't work out for them unfortunately
Figured by the idea. Megastores, brand stores and online stores rule the market now. The million kitsch store sounds and is obsolete
Could have sold it.
This is miles better than Shark Tank US. The Sharks there are usually so overly arrogant, here they're so kind and actually listen
Sweet lady should get 10% stake for free
Ah yes, get 160k for free
This is where I kick myself that I never thought of this. Amazing work guys
@Shark Tank Australia lol nice try
This has been a thing in Asia for decades so I'm not surprised it was an Asian dude who did this lol.
What a clever idea! I have not seen my cube in melb yet. Am I missing something ?
Lol the cube concept has been in Asia for ages. Saw so many of these shops in Singapore, Taiwan and a couple in Japan.
Notice his ethnicity and draw your own conclusion. ;-)
I’d expect Lestari has stock options on the startup, too! She’s a great asset and adds value to the company’s growth. Stanley may not even have gotten an offer without her.
Basically, he shrank a flea market and put it into a store. There's nothing innovative about that. If it becomes successful, what prevents the mall owner from kicking him out at the end of the lease and doing it themselves? This company basically subleased the space and made money from first time merchants. From the reviews I've read, it sounds like they gave them very little support and many to them were very unhappy.
This dudes smart. Connections get you places
He obviously had a great presentation and a business model but I think his lady partner also played a little hand in getting the deal
Their website is down, seems like the company doesn't exist anymore...
Could be that they sold it.
This is an offline etsy version. How long will this last until it gets blown away by the internet?
Agreed they should take a fall in the third round. Pride only hurts.
This doesn't work in the long run. It's all over asia, and most become extremely generic. Eventually storefronts can only sell low value, low cost knick-knacks, and effectively become copies of each other
I'm sure they are interesting for a few months, until enough of the micro retailers don't make any money and the cubes keep changing and it become a weird flea market of bad ideas and broken dreams.
@@pokergeniusordonkey6517 Can't be that bad, there are so many of them around especially in Asia. I myself shop at these or wander in to check out what new stuff they got in Singapore with my kids.
Their website is gone and Twitter is silent so seems they're out of business already.
Went bust on 2019
When was this episode aired?
Where I'm from the concept has existed since the early to mid 2000's.
Its mostly for otaku memorabilia.
Steve: “Perrr Storrrre” 😮
They clearly went out to give Steeve more leverage..i feel like it happens more often than we might think in the tank
"Stanley and his livewire assistant Lestari" never a truer word spoken 😁
This is such a great idea! I wish there was one near me, I would totally be renting a cube
What do you sell?
Was dying before covid with online taking over... But fully dead now.
This would have been massive hit in the 90s
A good friend of mine is an exec at a huge dollar store chain. He said they have grown a lot because of Covid. Some retailers are doing better because of the retail disruption and the pandemic. I think this concept will do well also. Easy entry.
Crazy the show has been over for years but reposting on RUclips gets good ad revenue I guess
The American version is still on, new season too.
I am a simple man. I see shark tank, I click
come to hong kong, this shit is like everywhere 10 years ago
i never seen it even i born in hk wtf lol
@@chrishung7582 go to MK SIn Dak MAll
Love this idea! Bring it to the U.S.!!! 🇺🇲♥️
DIY. They cannot patent this idea.
I googled this business and it seems to have closed. There are a lot of awful reviews about them being a scam.
seriously, what would you want to sell from these cubes? And are they self-operational like a vending machine or do you have a sales person in store all the time?
If I were them I would have said I like to expand to a few more shopping malls and then franchise so that we're helping micro and macro entrepreneurs.
@Brian Adams He very well could fanchise it. There are multiple of these kinds of shops in the shopping malls of Singapore and Taiwan. I have bought all kinds of nonsense myself in these shops and my kids love some of the dolls and action figures being sold in here.
Can anyone please explain how could Stanley give away %12.5 of his business for $200k, when each store alone is making him $500k !!
Honestly, it's for the connections that Steve could potentially bring. People go on shows like this not just to raise capital investments, but also because they value what each investor brings to the table. Sure, the business brings in $500k in rent, but that's just revenue. That's not counting what costs go into the business (setting up a store costs $300k for starters.) Also, keep in mind that just because they have a store property doesn't mean they have rented out each cube - they need to get people to come and rent out these cubes, and so I think Steve could help them in that sense. The main takeaway is that Steve gives $200k for 12.5%, and then works with the company to increase the value of this share.
That lady should get equity in the company. This 90% greedy dude needs to recognize how valuable she is
I mean are you listening to yourself you sound so dumb. Why would anyone give a percentage of their business away without any cause if that person is still willingly working with them. I mean I am a business student but even I dont need that to be able to tell you just saw an attractive woman and made up your mind....
So all she did the only thing you got was “I think she’s a beautiful woman”? Where did I mention that she’s beautiful?
The fact that she’s in a meeting with investors shows how valuable she is to the company, if she wasn’t she wouldn’t be here. The dumb one is you, business student my ass. I’m in business not a student, go do your homework. Keep up with your habits and see the kind of employees you’ll attract. You are ready to take advantage of the kindness of a person just to use them and offer nothing in return. Greedy bastard
The majority of marketing people who actually go into investor meeting like this are not those who own the company and/or have stakes in the company.
They're employees, paid a steady wage and probably extra bonuses from closing deal(s).
CEO pitching to investor only happens in shows OR that company is struggling bad lol
Good on you for giving your employees stakes in the company, but that's not common business practice.
Idk if anyone else noticed but when he asked “are you married”she said “no no no no we are not married YET” you have to listen carefully for the yet part she says it quieter then how she was speaking before 2:48
I think she said "we are not married, yeah".
@@armandmaree3972 I think otherwise
Steve strategically made a nice deal👌🏿
This may be the future of brick and mortar because the current model is not working for stores that have 20,000 and $10,000 rents they’re just not making it an online can’t be the wave because the customer service isn’t yeah people trying to cut corners there are even outsourcing customer service to like India so they don’t get culturally a lot of the things and returns that aren’t in person or just very messed up and they’re not instant like I don’t wanna have to send something through the mail and one if it gets lost and stuff like that and then starts to cost the store a lot if they start to get a lot of returns because they essentially have to throw the things out and stuff like that so this type of micro story helps especially if the story spring so much stock and then they have a online sector but you
Go in the store is really dope
Very disrespectful of her on her answer to "are you two married?"
The proper response was for Stanley to copy her reaction, or top it with a sarcastic smirk and a "ha...god no."
Nothing disrespectful about it at all. She litteraly just said the truth as it is. You have serious problems mate.
@@wioi To me it sounded like she was embarrassed and therefore came out as insulting to the guy. She jumped at the answer. She didn't just "say it the way it is." She couldve been calm about it not feel insulted they asked.
5 bucks a day 365 = 1800 bucks give or take a year. Let's say you have 100 shops using the service. That's around 180k a year, minus overhead ect. Decent side hustle but not a money maker and extremely volatile for retail
5 dollars, *per retailer* per cube... per shop
Yeah I get that. I outlined that in my comment. Using 100 cubes yearly as an example. Split that 100 how ever you want to. They would have to have at least 200+ cubes running all year long to make even a modest roi in the space they're targeting.
I should have said "100 cubes" not 100 shops but the number is still there. Let's say they have 4 shops, each one would have to have 25 cubes in it all year round to make that 180k. Mortgage on 4 shops, electric and utility bills, staff, ect would probably just about break even, leaving maybe a small income for the owners/franchisees.... It's not a viable growth/scaling model.
@@foamyone101 my argument still stands they would need to make double that money to make it even worth the time and energy it would take to just keep it running. 10 per cube, or 200+ cubes per year might about cover a decent amount of cash to make it worth it. That's IF there is only 1 person owning the business, 2 or more people expecting to make a living from it.. forget about it. Great idea on paper and not suggesting it isn't. It's just not a money maker
They are earning 500 000 per store and each store has 300 t0 400 cubes, so they are pretty much ok according to your calculations
Well done to these entrepreneurs! Well done, bravo 👏
There are stores that is like my cube around our city and I’m considering to rent a space.
These two are from Brisbane and they're awesome! :D
Do they still exists? I found a Twitter account of the company which posted its last tweet in July 2019
Just commenting in case someone knows the answer cause I'm curious too. And I'm too lazy to Google 😅
Wondering the same thinf
Looked them up and they shut down permanently
@@Juan67109 Thanks for checking. During Covid it would have probably been impossible to keep such a business focusing on in store products alive anyway
What's there new in this business... Its already running in all shopping malls.. Plz guide me
When ever I see an odd % of the company being asked for it's obvious they expect to be brought down to round it down so it's a even clear number so he was expecting 10
Great buy Steve those people are amazing
How is this different from a consignment shop?
She’s precious
Thank god this video wasn’t vertical
Glen: and for that reason, I'm out
Steve: *writes down*
Already big in hongkong!
“Sharks”- we love people who help entrepreneurs
Also sharks- we’re out
The candor!
Since I’m here early, can I ask a question?
Genuinely, why does Steve ask where people are from? 🤷♂️
Because that's his "thing". It's just part of the format. Just like Andrew is always the one summarizing everything.
Thanks, got it :)
@@jbird4478 then why does he write down when they say?
I love how the girl is soo expressive in a cute way
This is so damn cool!! I'm an artist trying to get into selling my work and I would so love to have my very own cube 😭😭 Come to the US pls !!!!
This sounds like a bougie way of opening up a swap meet
this is a bloody good idea
The business closed on 2019. So they are no longer operating.
wait. isn't this the 2020 season?
@@MrFelixify shark tank Australia last sesson was on 2018.
@@oscarchicalucena7980 ah, i see. thanks.
wait how i thought this was brilliant idea👀?
?
If not for his charming assistant, that guy would not have got a single dollar from any investor let alone the steve
I think the girl really deserves to be one of the shareholder on the company. she is clearly an asset for the company tho!!!
The gentleman pitching his product looks like Bird person
7 months old twins....and she looks like that...impressive
Barbara : I was not involved in this show. And for that reason I'm out.
She’s broke. She just pretends to have liquid assets.
Janine: I am in and for that reason I am out
Anytime they start with compliments just know they out 😂
Yeah I've noticed a trend that when they're going to say they're out they first give lots of praise for what's being done well, and if they're going to make an offer they'll often get into it by stating their criticisms and concerns lol. I like it, I think it's great that even when they're not interested enough to consider an opportunity super critically they still spend the effort giving some worthwhile coaching advice and encouragement.