YouTube clip of a Shark Tank-style pitch (uploaded by Nate Tilley) where founders Ryan and Bryce seek $350,000 for 5% equity for their carbon-fibre wheelchair company. They report a retail price around $16,000, production cost about $6,500, roughly 12 months of trading with approaching $500k in sales, and that 50% of staff are active chair users. Sharks (Robert Herjavec, Catriona Wallace, Jane Lu) ultimately decline to invest.
Questions this video answers
$350,000 for 5% equity.
Around $16,000.
About $6,500.
Just over 12 months; approaching $500,000 in sales.
50%.
Chapters
I'm a big car guy. Titanium is like porn to me. Like, you know, these things are beautiful.
G', day, Sharks. We're Ryan and Bryce and we're building the slickest wheelchairs on the planet. We're here today looking for $350,000 for 5% equity in our company.
Oh, wow.
Talk to us about what a wheelchair sells for.
A typical wheelchair will sell for around $16,000.
How much did it cost you to make?
Cost us about six and a half thousand dollars to make it. We've been trading now commercially for just over 12 months. Approaching now half a million dollars in sales.
Yeah. Probably the best thing about our chair is it. And by People with a disability. For people with a disability. 50% of our staff are active chair users.
So this is the technology that we're using. Inside the parts is like a ladder structure. That's what allows us to reduce the mass and keep it super strong.
Are they carbon fibre?
Yes. You can feel the frame weight.
That's incredible.
Oh.
Man.
And so these are significantly lighter, are they, than existing wheelchairs that are on the market?
Why not sell the technology instead of being the wheelchair business?
We have had several of the larger multinational companies, companies that are in North America and in Europe already interested in our system.
That might be a path. 350,000 5%. Guys, I'm not the right shark. I'm out.
Look, it's so impressive what you've done. I think I'm learning more from you than what I can probably help you with. For that reason, I'm out. But I hope you get a deal from someone else.
Thank you.
I appreciate it.
Thanks, Jack.
Look, I'm in AI and the Metaverse, so unfortunately, I'm out.
I am so impressed with you guys. And the product is phenomenal where you sit right now. How do you do a director consumer play with this product? Seeing your comments around, you know, the percentage of chairs that are covered by the ndis, and saying that that is going to be the main path to actually sell this thing. Regrettably, I'm going to have to be out. I appreciate you, Ryan, but I wish you all the best.
