Woolly Grooming, an Australian vegan hair product line, pitches to investors. The founder asks for $150,000 for 30% equity; the investor counters with 45% plus royalties. They settle at 40% equity for $150,000.
Questions this video answers
Woolly Grooming
Australia (Australian-made)
All natural; 100% vegan
All of the money for 45% of the business plus a $2 royalty until the money is paid back.
30% equity for $150,000 with the royalties inclusive.
Chapters
With this cream, I started my dream. So, Woolly grooming is a range of all natural Australian made hair styling products for both men and women. That's 100% vegan. And I'd like to share with you guys and see how you feel about them inside, please. So first, I'll start with you, Robert. This is our sea salt spray. And that's neroli and sweet orange. This is our sea salt spray in bergamot and vanilla. This is our bergamot curl cream. The matte balm is ideal for you, Devi, because of your finer hair texture. I've created a perfect solution for you as well.
I hope you have a perfect solution for me.
I can't work miracles, unfortunately.
First of all, the packaging, the branding is great. Thank you. Incredible. I am going to make you an offer. I will offer you all of the money, but I will need 45% of the business and a $2 royalty until the money's paid back.
Would you consider a counteroffer of 30% equity for 150,000 with the royalties inclusive?
I just can't go down to 30%. I know how much work is going to be required for myself and how much mentorship is going to go into it, but I will meet you at 40%.
Deal.
Well done. You did a great job.
It's happening.
It is. We're going to go out and blow this thing up.
