![]() ![]() Never miss a story: sign up to SmartCompany’s free daily newsletter and find our best stories on Twitter, Facebook, LinkedIn and Instagram. “We have logistics and a warehouse sorted if we needed, but ultimately if we don’t get a critical number to go interstate, we won’t do it.” “We are in the seeking and deliberation mode for national expansion, so in response to Shark Tank we will review our plans,” Draper says. While Be Fit Food is still only available in Victoria, the founders are hoping the Shark Tank exposure will help them decide the next state to take the business The focus for the healthy duo is now on expanding the business further, having upped the amount of staff working for the business from 6 to 23 since opening. “We can send her an email and get a response within a minute.” She’s provided us with so many resources and so much time and timely advice,” Draper says. While the details are still passing through due diligence, the founders say Allis’ mentorship has been invaluable. However, with Allis being the “obvious choice” in the end, the founders agreed to her deal. “Also, he’s from Brisbane, and the next step for Be Fit Food is to move to another location.” “Steve would have had an understanding about food and a major thing we’re looking to do moving forward is maximise our IP, and he would have been very capable in that sense,” Save says. Presented with the choice between Baxter and Allis, the founders say they we pleased to have the option of the two sharks they were hoping for and said the decision wasn’t clear cut, despite Allis running multiple successful food businesses. Baxter fired back with an offer of $300,000 for a similar 33.3% equity. “We also consider the cost too, because if something’s scientifically fabulous and flavourful, but terrible cost-wise, it won’t launch,” he says.Īllis then offered the Be Fit Food founders a deal that was made up of a $100,000 loan, plus $200,000 for 33.3% of the business. “Uncompromising” science backing is a key part of Be Fit Food, says Draper, who says “if it’s not scientifically validated we won’t use it”. “We were just trying to really let them know we’re not just another business.” “We know our business inside out so that wasn’t a worry for us, and we know that no other companies are providing scientifically formulated food options like we do,” Save says. We wanted to present the nuts and bolts of Be Fit Food and tell the story really clearly.”īut come the day, the two said the pitching experience on-set was “nerve wracking”, and while they had experience pitching the food plans to groups such as rugby teams or hospitals, the two said it was a completely different experience spruiking ideas to “five business brains”. “We spent a lot of time preparing the pitch this way. The new WA Cares benefit for workers like me is going to provide a bridge, instead of making us decide between getting, or going without, the help we need. “Our main plan was for Kate to go on and talk about the health side of it, and if they wanted to talk about the business side of it I would go on,” Draper says. ![]()
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