Glen Intimidates Entrepreneur Into Investment | Shark Tank AUS

Summary

Krista Bone pitches her sailing tour business, Coda Sail, to investors, seeking $180,000 for 10% equity. The company offers unique sailing holidays along Croatia's coastline for young professionals. With impressive growth and profits, Krista receives multiple offers from the sharks, each proposing varying equity stakes. The negotiation becomes intense as Krista is hesitant to give away too much of her business. Ultimately, she agrees to a deal with two sharks, Steve and Janine, offering 25% equity for the investment. The video showcases Krista's journey from small-scale success to scaling up with investor backing.

Takeaways

• 😀 Krista Bone is the founder of Coda Sail, a travel company offering sailing tours along the Croatian coastline for young professionals aged 20-30.
• 😀 Coda Sail began in 2015 with one sailing tour and has grown to nine departures in 2018, with all tours fully booked each time.
• 😀 The company offers seven-day tours on the Croatian coast, from Split to Dubrovnik, with a cost of around 1900 Australian dollars per tour.
• 😀 Krista's company generated $440,000 in turnover and $230,000 in profit in 2017, with projections to reach $630,000 turnover and $350,000 profit for the current year.
• 😀 Krista has not heavily invested in marketing, relying primarily on word of mouth for customer acquisition, leading to a low customer acquisition cost.
• 😀 Krista seeks investment to take Coda Sail global, acknowledging the need for more business infrastructure and support to scale effectively.
• 😀 Krista values work-life balance, spending summers in Croatia to oversee the tours, but is eager to grow the company and move away from a purely vacation-driven mindset.
• 😀 One of the Sharks, Rodder, offers $180,000 for 30% equity, emphasizing his experience in the tourism industry and branding expertise.
• 😀 Another Shark, Steve, proposes $180,000 for 20% equity, with a focus on helping Krista scale using technology and infrastructure.
• 😀 Krista expresses interest in a partnership with two Sharks, Janine and Steve, but is concerned about giving up too much equity in her company, leading to negotiation over the percentage offered.
• 😀 Krista eventually accepts a deal for $180,000 for 25% equity, agreeing to work with Janine and Steve to grow the business internationally.

Q & A

What is Krista Bone's business, Coda Sail, all about?

Coda Sail is a travel company that provides sailing tours along the Dalmatian coast of Croatia. It targets young professionals in their mid-20s to late 30s, offering a blend of relaxation and adventure without the party atmosphere of typical youth travel.

How did Krista Bone come up with the idea for Coda Sail?

Krista came up with the idea while working as a tour guide in Europe in 2010. She noticed that many young travelers didn't want to tour with their parents or engage in typical drunken youth experiences. She saw a gap in the market for a more refined, adventurous travel option tailored to young professionals.

What were the growth milestones for Coda Sail from its inception?

Krista started with one sailing tour in 2015 and grew to nine tour departures by 2018. All tours have been fully booked, and Coda Sail has won back-to-back titles for 'Sailing Tour of the Year.'

What are the financials of Coda Sail?

In 2017, Coda Sail had a turnover of $440,000 with a profit of $230,000. In 2025, they expect the turnover to reach $630,000, with a profit of $350,000.

How does Coda Sail attract customers without heavy advertising?

Coda Sail relies mainly on word of mouth for customer acquisition, with minimal spending on Google and Facebook ads. This approach has helped them maintain profitability while keeping marketing costs low.

What is Krista's role in the business?

Krista is currently the person who manages all nine sailing tours, but she wants to step back from day-to-day operations and learn how to be a better businessman rather than just a tour guide.

What does Krista want from the investors (the Sharks)?

Krista is looking for investment to help scale Coda Sail internationally. She seeks expertise from the Sharks to grow the business and turn it into a global brand for young professionals.

What are the Sharks' offers and negotiations with Krista?

The Sharks make several offers. Some offer $180,000 for a 20% stake, while others offer $180,000 for 30% or 33%. Krista expresses hesitations about giving away too much equity, but eventually, she considers offers from multiple Sharks, including Janine and Steve.

Why does Krista hesitate to accept an offer from one investor?

Krista hesitates to accept offers due to concerns about losing too much control of her business. She wants to grow but also maintain ownership, which leads to negotiations and counteroffers to find a balance.

What does Krista ultimately decide regarding the Shark offers?

Krista eventually decides to accept an offer where she will give 20% equity for the $180,000 investment. She plans to work with both Janine and Steve, combining their expertise in the travel and tech industries to grow the business.