Three-way Bidding War Erupts Over Custom Orthotics | Shark Tank AUS

Podiatrists Rachel Ferguson and Marie Ann Lewis spark a three-way bidding war for their Synxsole orthotics. The pair seek an investment of $100,000 in return for a 22.5% equity stake.
Company Website: synxbody.com.au
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 #Synxsole #Orthotics

[@matthewward5849]

My phone is at 1%. For that reason, I’m out.

[@atd93]

😃😀😀😀😀👍👍👍

[@ZevMeth_originaljewishmusic]

Huh?

[@Defno]

This made my day 😂

[@joelturcios7659]

😪🤯😇

[@jackyoung5639]

⁹

[@markmuthii]

Most people binge watch Netflix. I binge on Shark Tank. 10/10 content. Food to the SOUL.

[@yuppy178]

I do both 😂

[@shoaibmohammad8114]

SOLE

[@zin.nesis1]

And its a great way to stumble upon your own business idea.....which ofourse probably already exist after a google search 😂

[@chuckbecker8735]

me too...very uplifting.

[@thehorde4868]

Me 3

[@vivekkrish2001]

For Naomi it's always far too early... and when it's well established it's something she can't afford

[@rondev9470]

Haha

[@Xaddpower]

She is for the shark tank what Jenny Campbell is for Dragons Den Just there to say she can't or won't

[@Locutus]

Feel free to invest your own money. Show Naomi how it is done.

[@jekopewise]

Lol so true

[@cass9011]

She needs to be replaced. Haven’t seen her invest once

[@BitterSweetBarb]

Gotta love Shark Tank Australia where everyone is happy no matter who is doing the investment, always congratulations on all parts!!!

[@10whiten99]

Apart from Naomi she can be scary sometimes

[@ethank5681]

Are you sure? Two episodes ago Steve walked off set swearing his mouth off LOL

[@zachprince2781]

Your just extremely full of yourself. You clearly don't watch the show when Steve talks

[@baba7415963]

True!!!!! In Shark tank in America they all get offended, angry, and personal

[@baba7415963]

Ethan K one episode and one shark vs almost every episode and all sharks in Shark Tank America😂

[@JSSTyger]

7:03 *Me:* My god, Naomi is going to make an offer?! 7:11 *Me:* Of course...What was I thinking?

[@funkerlug]

My name is Naomi, and for that reason, I’m out.

[@teekaybe4016]

I just started watching Australian Shark Tank on you tube and EVERY single clip Naomi always says she is out. Is she like this normally?

[@funkerlug]

More often than not. I don’t get it.

[@ceejay1777]

I just started watching this on here as well and the first thing I noticed was that she invests more than any other shark. Her and Steve and then Janine and then Andrew, John and Glen the least.

[@gabe-po9yi]

These women are amazing. In practice only ten years and the have two clinics with podiatrists on staff where they only have to work two days a week. Phenomenal.

[@TipOfAfrica0010]

The lady in red: I'm out because, well, I'm always out!

[@avidhakal6451]

Andrew and steve are the only guys in Australian shark tank who know how, where and when to invest money

[@ceejay1777]

And Glen

[@annaokrajek4944]

Oh yes! My favorite episode was with a guy that created some magnet protectors to put on your car if you want to go to the bushes. I have never seen Steve, Andrew and Glen that excited about the product. They knew it is going to be a hit. And probably first time I have seen Steve and Glen smiling like that ahhaa

[@shajanmiah5063]

It's because they invest based on the product and the people behind it, they're willing to work as partners while the others only want to be investors and want to avoid the leg work.

[@B_Bodziak]

Glen

[@B_Bodziak]

@@shajanmiah5063 The women seem to have lost the original mentoring newer entrepreneurs and 100% profit.

[@ethantalevski4040]

Steve: “ I reckon your both ripping them off personally” 🤣🤣🤣

[@ProfRoofs]

It’s not a bad deal. The high percentage keeps Andrew interested enough to grow the business then they can always buy back equity. Also, the only thing I could have recommended was negotiating a drop in equity once Andrew made his money back or if certain annual projections were met.

[@B_Bodziak]

If the sharks agree to sell equity back, then they're basically working for free. They have to keep skin in the game for longevity. Otherwise, it's simply a loan w/o interest.

[@thedoctor2405]

@@B_Bodziak they make money on the percent they sell after the business grows tho? Andrew got a deal on 45k valuation, so even if his equity drops 10% after the company makes a million he gets 100k

[@pr8ikLFC]

If all of them make an offer, who wouldn't take Andrew. I mean he's easily the smartest businessman among the sharks.

[@B-RaDD]

And just the nicest in general

[@youtubeuser3357]

100%

[@doryangromdizdarevic]

Well Glen has the most value. And Steve would be a Great asset. But I

[@doryangromdizdarevic]

Totally agree

[@gaurav2904.]

I wouldn't, I'd go for Steve. It's easier and more efficient working with straight forward people like him. And being straight forward, he'd always give the most genuine advice, no sugarcoat or anything. He will praise when something's actually worth praising and will criticize when it's worth criticizing. The best help you can provide someone growing is being to the point with them.

[@varthyasandeepnayak1637]

Haven't seen the video but I can say Naomi won't make a offer

[@Locutus]

Feel free to invest your own money. Show Naomi how it is done.

[@Dbjjr26]

You were right

[@landrewmackinnon4888]

@@Locutus and join an investment TV show too I'm sure.

[@chasederby88]

I worked for Tradehome Shoes in South Dakota. I learned very quickly that insoles make the biggest difference out of the majority of shoe accessories.

[@ZazooEel57]

It helped tremendously with my sciatica when I was still growing and the pain was basically too much for me to stand or sit for 1 continuous hour. Having them fitted properly is very important, and changing them every year is really the best, which is a small investment at 130 per year!

[@thisIsPathan]

I'm actually on wheelchair so for that reason, I'm rolling out.

[@botagz]

@7:15 I always love how Naomi says I'm out. Her "out" sounds so Aussie with the h sound in the end.

[@jimlawton4184]

First rule of negotiations: never ask 'is there any room to negotiate' because the answer is always yes!

[@gouenjigouenji7126]

You mean 'no' in the end

[@jimlawton4184]

Gouenji Gouenji thé people you’re negotiating with will lie and say no, but the implicitly true answer is obviously yes, everything negotiable

[@mayowa_adegoke]

Wrong. The first rule is to start negotiating immediately. Don't ask. You'd never get a "yes" of you ask.

[@jimlawton4184]

@@mayowa_adegoke That's very true, excellent way of rephrasing what I said lol.

[@briankarcher8338]

@@mayowa_adegoke This is fair. So many don't make a counter offer. All should.

[@timtaylor1365]

Andrew straight down the middle...honest, ethical, wise, good business sense....a Great White Shark among reef sharks

[@kushalchennamaneni822]

Phew! I thought Naomi was going to make an offer!

[@tikramsingh3851]

😂

[@tabrezdn1]

😂

[@doperagu8471]

😂😂😂 that's a good one!

[@muawin3012]

"This business looks absolutely astonishing. For that reason I'm out"

[@sandhyashreep]

Hey bro! U here too 😂

[@robinabernathy2829]

Love the way the two women beam with delight when Steve starts hitting them with the compliments.

[@gioperaza5751]

Hi! I am Mexican and I am here because I heard that Shark Tank Australia is very good and I confirmed it, it shows how prepared and friendly they are.

[@angcil88]

It is friendly, unlike the US and Dragon's den they are nasty and brutal but fun to watch lul

[@mopardanny7801]

I’m surprised by the dude on the far right, he finally made a deal 😂😂😂

[@calebandrew4493]

Naomi: So Janine sneezed funny 3 episodes ago, so for that reason, I'm out.

[@alexanderlalor1222]

I've been to Marie's clinic, and she's a fantastic lady who has helped me with her invention of Synxsole. I've always wanted to see this episode because she sometimes mentions it!! From what I know as well, it's going very well for her, and it literally only takes 2 or 3 sessions, then you can move onto custom-made orthotics if you'd like.

[@cidguy]

If their business gets big, the long term will regret not taking Steve's higher price to retain that extra 10% equity.

[@rizalukman7982]

I think the girls are very smart to choose Andrew's offer.From the beginning Andrew is the only shark who really offer 45% share for $100 k with no other condition. The problem with Steve's offer is that he wants a lesser % of shares but the royalty is a burden for the enterprenuer who has big expense for their company

[@RajOnACloud]

@@rizalukman7982 Yeah but if the company has potential, long term equity is valued higher than a royalty

[@danielgarrett4230]

@Utube Allday they are still early though. Only 80,000 sales in 2 years. 13,000 of which they just received. They can't afford to pay him a royalty on 19,000 profit. Especially when it's two of them splitting it.

[@Locutus]

@@rizalukman7982 I thought Steve's deal was good, I would have taken it. At least modified it, so that it was a lower royalty, for a higher payback.

[@louiscyfer6944]

@@Locutus you are looking at it wrong. the question is what will the company be worth. it will be more valuable with andrew, he has the american market covered. their 55 will be worth dar more than the 65 with steve.

[@likaoodyuo8321]

Lovely duo. Highly respect the politeness of AST Sharks. Love from Nagaland

[@annsowers4591]

I had an awful heel spur. My Son's Ortho Surgeon gave me great advice. Never let anyone say they can fix it surgically because you will wind up with nerve and tendon damage. Next he said to find shoes not inserts that helped with the pain. I did and found Goghs by Fit Flop. They aren't cheap but you can find good sales. I have yet to wear a pair out. They are sized by German standards, so you buy a size larger for US. I have clogs, boot, slippers and sandals made by them. My oldest pair is 10 years old and are like new. I hope this might help someone as well.

[@yeoldegrayCat]

minimalist shoes are best, no need for all that cushion and arch support it weakens your feet. try to walk barefoot while you're at home.

[@KarrierBag]

Use a similar system in the UK, I went to see a specialist and he cut and gave me a pair of insoles and it made my back pain go away within a few weeks, I use them everyday. If these are as good they should do well.

[@jessmatthews9014]

As someone who wears custom made inserts it’s not the inserts that are expensive it’s finding bloody shoes which allow you to fit them in! Can’t buy any cheap shoes because of it!

[@antoniosantos4354]

I am a former executive of the world's largest bank for most of banking history. And I shudder at the way that two passionate and largely unknowing and sweet ladies. who have a great product, are being taken advantage of by sharks. I thought that Andrew was a shark, but I did NOT imagine that Steve would be a much greedier shark, and hide behind his command of calculations. If these ladies went to our bank instead, they would have much better loan products offered to them than Steve has, and then keep 100 percent of their equity. I realize that they are a start-up enterprise, but the potential is great. Having said that, I want to blast the sharks for making "potential" sound like a bad word, when it is NOT. Sales alone is NOT king. Potential is also what these sharks are looking at, but PRETEND that they don't. That is all they really look at, more than sales, for why would an established brand, with established sales go to such greedy people for capital? By the very nature of start-ups, one can has to put much weight on potential. I am not undermining the business connections and interests that these sharks can generate for start-up businesses. But how I wished that they become less shameless in their greed, and stop preying on people who they were like, when each of these sharks, were just starting out themselves. God protect enterprising entrepreneurs from predatory and greedy "investors".

[@BonthuSumanth]

The show is literally called shark tank

[@soojoe]

The drive start ups have in Australia is truly inspiring! I would do business you all anyday!

[@ramizmohamed6815]

First time I saw Andrew so serious over those comments over his deal

[@sethnabla6023]

Andrew did act smart by selling what properly what he will bring on board and being quick to let them believe 55% wasn't a bad deal for them.

[@aayushgargofficial]

i am a guy from india, 2 months behind on rent, taking a dump in my job interview, and for that reason i'm out!!

[@jimscrotom2953]

Hey, my advice is pop to the bathroom next time instead. I have found this rule to be good in the bathroom

[@holocene2164]

The hell? This version of Shark tank is so much nicer! It's refreshing, actually.

[@B-RaDD]

I always say American shark tank more entertainment decently polite Australian more politeness decently entertained Dragons den: I'm out

[@DavidBrendan7799]

Andrew is def my fav, he is just the most real and authentic

[@B_Bodziak]

The kindest by far.

[@sumithhh9379]

Watching Shark Tank Aus one after another. You guys are awesome!!

[@ethank5681]

No one: Synxsole: Now that’s money 💰 👈

[@jamesmatheson5115]

"And for that reason Im out". Just because someone said 1000 years ago, wear Red because its a strength colour, does she really need to continuously wear Red.

[@bienkee5278]

Australian Sharks are Astute,Sharp & Friendly.Love this Show!

[@caligamer4988]

I love how as soon as they mention money they SMILE

[@WithYesica]

Omg, Steve. 🤣 “We’re arch enemies now!” haha

[@danielgarrett4230]

Great job for them! Hope they have a successful future!!

[@wahyukamal5977]

Andrew think about the risk and Steve made win-win solution with the reasonable offer

[@DJStrobe]

Basil brush reference there.. "Boom Boom"

[@vickylovega23]

Just been watching all of these all week lol

[@otakusan8804]

14.35 you're the best🤣

[@zivaihamadziripi2111]

I wasn't the first to comment and for that reason I'm out.

[@boudybechalani5507]

She could’ve at least negotiated to 40% in my opinion

[@saranshgautam6551]

Yep easily..

[@aqibahmed1170]

Surprise surprise Naomi didn't invest. She's becoming ridiculous now. Never invests and when she does she wants a big chunk.

[@Locutus]

Feel free to invest your own money. Show Naomi how it is done.

[@aqibahmed1170]

@@Locutus give me her money & watch me role. Ha absolute no need for shitty comments like that. Its a show I have a right to make an opinion on the ppl who are given that platform. I dont think she should be on it due to a lack of her investing. Period.

[@asx305]

@@aqibahmed1170 Donald Trump should not be president for U.S because he have blond hair. Period.

[@zin.nesis1]

@@Locutus lmfao

[@vistalite]

Barbara phoned in to ST Australia. She says, “throw another shrimp on the barbie and… I’m out”.

[@fanofbama14]

I never went to the doctor about my flat feet until 2 weeks ago. I bought regular insoles In the store and had extreme knee pain within two weeks. Unbearable knee pain I might add. I couldn’t stand up. I went to the doctor and he told me to throw the insoles in the trash. I have flat feet from birth and thought insoles help it. I was completely wrong. I have to get custom made shoes to help the foot pain and correct the way I walk. These insoles sound fantastic because the custom made shoes are $200-800 USD.

[@donellr.jonesmarketing6809]

I'm from the US, but I love this show. I need to go visit Australia one day💪🏿💪🏿

[@croz2530]

Your welcome anytime mate

[@TheSuperBoyProject]

Sorry, no knitters allowed

[@maddyfoster6609]

Feet make me nervous and for that reason I’m out.

[@sharithompson1672]

I spent $800 US plus on a pair of orthotics that felt literally like cement. The ones at the drug store or sporting goods are useless. I’d try these in a second

[@daisy5530]

$800?! Were they from your Dr? That's insane

[@nadimnoorani9397]

Naomi's middle name is "I'm Out"

[@chuckbecker8735]

Shoplifter Steve typically welches on almost all the deals he snares weeks later. He finds obscure reasons to renege. Mark Cuban did this so much, they threatened to drop him from the USA Tank, so Cuban stopped this practice.

[@B_Bodziak]

Cuban is reported to follow through on less than 30% of the deals he makes.

[@chuckbecker8735]

@@B_Bodziak I used to admire Cuban till I saw him be a uber jerk on each & every single Tank episode. Once a month he would do something really nice to trick us and camouflage his actually being a true nega-jerk.

[@LetsTalkAboutIt2022]

I never knew there was a shark tank outside of the USA so I guess I better start looking at more areas

[@SalaarArifKhan]

What a wise decision to go with Andrew!

[@cidguy]

Idk... Steve's price might cost a bit more, but they would keep a bigger chunk of their company with his offer. If the business gets big, the long run would regret not taking Steve's offer.

[@SalaarArifKhan]

@@cidguy im not sure Id want to partner with an investor who gets his equity for free on my business when theres Andrew's offer still on the table

[@MandeepKaur-fe3vl]

@@SalaarArifKhan Irony is deals which made history in shark tank are always associated with steve one way or another. Follow up speaks a lot to me rather than just impressive personality and USA market since steve took his partners product to USA as well.

[@ZevMeth_originaljewishmusic]

Since Andrew made an offer, Naomi had to be out!

[@erk489]

Crazy how all they have to do is give them access to some contacts and they get half a persons business.

[@ashwinitakane7417]

It's not just contacts but their own services, i get your point though it's crazy how much they value their involvement, but I guess we can't put a price tag on experience and expertise

[@solidsnakeandgrayfox]

@@ashwinitakane7417 the experience and tools are half the battle. Ive been back and powerlifting for 3 years and I always get newbies coming up and I help take them under my wing, because I see a lot of them that would otherwise get seriously injured. The experience is literally half of everything.

[@ashwinitakane7417]

@@solidsnakeandgrayfox for sure, they have been through their own struggles and problems and it all adds up in the value of experience, experience is life's ranking system.

[@matrenitski]

The Sharks are so nice and cute. That changes my perspective on sharks in general.

[@hamstersmash]

wouldnt mind seeing them both on a certain something video website

[@George0A]

I love shark tank but these 2 don’t have a clue I have flat feet and I’m hyper mobile and double jointed and I need custom orthotics that are moulded and 3D printed and before I had them I was using insoles from shops and pharmacy’s you can’t just make an orthotic and make it an equivalent to a custom orthotic made from a scan of your foot.

[@rondev9470]

Love your style Steve, 😄

[@ashwinitakane7417]

Company is doing good, they got a commercial as well

[@GamingTaylor]

*sigh* This isn't anything new. Dr. Scholl's has the same exact thing at $10-15 at any Walmart and they last years... I've used them ever since I worked at an Amazon Warehouse, and now can't really wear shoes without that extra gel cushion. However, there's literally no difference between the competitors... its like slapping a new brand with a new price tag but selling the same thing.

[@LurqN-]

I’ve watched shark tank for years. This might be the first product I actually buy when I get the chance to. Fix your feet you can fix your spine not completely but just enough to take away some pain.

[@petemaunderhoops]

Have a look into barefoot shoes and podiatry. Orthortics fix the symptoms but not the cause. They quoted that 60% of people have foot pain - there's probably a cause for that!

[@chuckbecker8735]

''.... you're the best. ''

[@ZevMeth_originaljewishmusic]

I was worried that Naomi was going to make an offer!

[@timeflies313]

Barbara: Oh, this is Shark Tank Australia. And your pitching a business that has a potential to change lives and become huge in the future? Well, for those reasons, I’m out.

[@n.r6094]

I love steve is so about things

[@krishkodali1841]

Bro what's up with the Sharks saying their out because its early. Isn't that the whole point of investment before IPO

[@MP-ns4cu]

They actually did really good. i believe they made about 3 million

[@ZevMeth_originaljewishmusic]

I guess that either Naomi or Andrew need to be out, so when one makes an offer, the other one has to be out!

[@alisonhendry6435]

I like Andrew investment style approach

[@itiswhatitis2812]

Arch enemies ? Can someone explain what Steve told to andrew in the end ?

[@Amir4Yemen]

Watched to much Shark Tank Austraila, How do I know ? Well, I tried to under price my own business !! ;)

[@takom7541]

Why everyone once they hear they got an offer have that stupid smile on their faces. You nothing but flys for these guys who basically are just toying with u

[@stevedavid1226]

Thanks for spoiling the interest in it.

[@briancronin1428]

Can’t say I love shark tank. But I can say I love shark tank Australia.

[@kolnman3582]

I can't sell it through my gifts stores so I'm out.

[@abhinawkumars]

I think that the Lady with black hair is how Janine would have looked like 20 yrs ago..!

[@Captncutie]

@Victor Murat and for that reason, shes out

[@alphabravo3304]

“Your sales aren’t enough to peak my profit interest’ Im looking for a quick investment for massive returns, so on those grounds I’m out.

[@B_Bodziak]

Yes, the whole premise of being mentors while making a return has seem to gone out of the window.

[@100daysmic9]

Low sales. 25 years ago I was office manager of a Custom Orthotic business with one location in a city with a 1Million population - our first year sales was $350,000

[@math9381]

Andrew's like a game boss

[@greenlion6544]

Please bring back Shark Tank Australia... even if it’s just on KZbin with a cheaper set.

[@abdullahshareef5558]

I guess Steve purposely makes such offers so that the people who seek investment take the counter offer.

[@rajatsinghchaudhary2946]

i didnt understand steves offer, cud you xplain

[@kindasupersonic7114]

@@rajatsinghchaudhary2946 Steve offered 100,000$ for 35% equity in the company, plus. 10% royalty per unit sold until he is paid back 110,000, at which time the royalty goes away and he just has the 35% ownership of their company. Basically Steve said I’ll invest 100k for about 1/3 of your business, and you pay me back 110k … he structured the deal to where they would pay him to own part of their company.

[@ALEXMGFASHION]

This is the first time I see Andrew investing

[@FortexVize]

Don't be too thankful or they have you exactly where they want and can do whatever they want.

[@gp8721]

“This is an amazing opportunity and we can’t thank you enough!” “...okay. John?” Lol

[@TimPanaino]

Dam no counter, these girls got eaten alive in the tank...

[@danielgarrett4230]

@Rudra Pratap Singh oh no way. where did u see this?

[@mirzabaig7141]

in cricket Aussies known for sledging and all but when it comes to business, oh man they are so wise and sensible.

[@the_even_toed_ungulate.]

Why does every statement sound like a question? With an upwards inflection at the end? Like this?

[@solidsnakeandgrayfox]

My boy Andrew being stern af lol.

[@deepsonshrestha5559]

My stomach is feeling funny atm. For that reason my fart is out.

[@mgbonuzuroland394]

I love this pitch- the ladies are worth backing

[@otakusan8804]

by 2015? when was this filmed lol

[@crackerjackrappr]

I thought she said "Podiatrists from Earth."

[@trulifrea8073]

🤣😂your comment cracks me up!

[@crackerjackrappr]

@@trulifrea8073 Haha, thanks!

[@trulifrea8073]

@@crackerjackrappr I dare you to randomly place this slogan...anywhere...it could be considered planetary galacticist, do we trust the healthiest feet as the leader? "Hostoe takeover" by the 👽 Hi fives, grooming mate, grooming. Never trust anyone who says "Shake a leg" but "pulling your leg" is just corny?

[@katie4623]

But they didn’t explain how these insoles are different from the ones they tossed on the ground.