This 17-Year-Old Is A Business Powerhouse | Shark Tank AUS

[Music] next into the tank is a savvy seventeen-year-old who's not letting school get in the way of his sweet entrepreneurial dreams my ultimate goal for my business is to be a household name throughout the world age is no barrier [Music] cool paintings [Music] hi sharks my name is Morgan Hill earth I am 17 years old and I'm the owner and founder of destroy Morgan and artisan donut store based in Melbourne today I'm here for $200,000 in exchange for 20% equity in my business destroy Morgan was born when I was 13 years old and I started

to playing a cafe with local goods from there things just kind of blew up I was featured in numerous media outlets and a whole whirlwind of opportunities came at me I ended up so playing around 20 cafes around Melbourne until I was absolutely desperate on a permanent store and my parents being you know parents they were like no in all that a permanent store to you out of school so we came to a compromise that how about we do a pop-up store and for that in your I was on the french of real estate agents

and has already sorted out a location for my store and eight days went so well we ended up selling over 10,000 don't I see no eight days yes so from there store came up for permanent lease I eventually convinced my parents after many arguments at the dinner table and the stores been open around 15 months now we continues to supply around 10 to 20 cafes and dessert bars around Melbourne so yeah it's you know it keeps me busy as well as being in year 12 in high school so I'm in my final year of school

so I think now is a good time to maybe try some of the dough amazing for something good so we got our Cookie Monster which is filled with cake batter this is our class clown which is filled with chocolate hazelnut and then KitKat and marshmallow a Bruno Mars which is Mars by and salted caramel triple T's which is choc hazelnut Tim Tam date night which is white chocolate popcorn caramel and chocolate and then our gauge home crunch which is based off the ice cream the golden gate I'm and made into a doughnut my favorite I'll

have that one in the middle there this one here thank you thank you and that's got a cake batter no key so bear with the syringe yeah that's right taste really good it comes out the recipes so you are asking for two hundred thousand yeah for 20 percent valuing your business at 1 million dollars that's right that's not bad ask for a 17 year old we need to get $10,000 worth of sales 10,000 going on to $10,000 yeah and the donuts are 550 HP 55,000 on your opening weekend in a poke in year 8 days

yeah nice to shut them and their daily yeah dude I work about 60 hours a week on the business and then I'm in the same school okay so normal day would be I get up around 4:00 4:30 head down to the shop get some of the orders and the wholesale orders it out and then from there I'll head off to school and I get in get all my homework done in recess I try and work through all my recesses or my lunch breaks you're working harder than most people I know amazing what do you have

fun this is fun look we did you come upon a to performance first so our total revenue for last calendar year was $500,000 with net profit 130 well this year yeah four houses at 850,000 and then three to three and fifty profit well did you clarify for us what you're going to spend the two hundred thousand dollars yeah I love to have destroy Morgan flagship stores our product is one of those that people will travel for mr. Morgan I'm already a shareholder and a pretty substantial national doughnut business and I'm not sure I'm the right

partner for you to scale this next stage I think you are a force of nature you're amazing thank you but I'm out no worries Morgan a middle-aged guy who's trying to keep his weight down I'm really concerned about this product what I notice about my investments lately in the food spaces they are in health and wellness products yeah so for me I'm out yeah no worries Morgan I think you're at such delight in such an energy and I'm sure your parents are incredibly proud of you and they should be it's not an obvious fit for

me in terms of the value that I can add for this deal I'm out no worries Morgan if there was one person in Australia yeah whose business you love that you'd love to spend an hour with who would that be [Music] Jeanine hours so I'll make you deal I will offer you two hundred thousand for 42% come on he's the reason bees it's gonna take me a lot more time so I'm actually valuing in my sweat he's a minor you can't deal inappropriately - what are you doing come to me where you in or out

Steve what so the D element was $200,000 for 30% yeah so just to summarize Janine's offered you two hundred thousand for 42% steve has offered you two hundred thousand for 30 percent is twelve percent of the business worth expertise 4242 is horrible if you cannot do been you know forbid you've known for two is twelve percent worth the 20 years experience that i can bring to you dream this business [Music] Morgan has landed two sharks willing to invest $200,000 in his donut empire but they want a much bigger bite of the business than Morgan's proposed

20% stake with Steve offering 30% and Janine's sitting on 42% I can't I couldn't bear to give away the scent of my soda you don't giving it away no no I know no I mean giving you my time I know I know she's ruthless I think that's a no she's really you know any bear over 30% mate I'm at 30% may I go back and have a chat with my and my dad absolutely all right no way oh you guys have a chat Thanks I'd love to Janene he's not gonna give you to 42% well

I can come back with a counter yeah hey it's man we've got two offers we've got one from Janine Allis for the hundred thousand but it's for 42% yeah and then we've got one from Steve for 30% [Music] hey mom moms crying say it welcome hi you are I'm Natalie on Ally's mom a proud mum indeed yes yay keeps us busy and challenge and challenge yeah we just call my dad as well good so you consulted the board I get there yeah so just to remind you Janine's offered you two hundred thousand for 42 percent

of your business yeah and Steve has offered you two hundred thousand for 30 percent of your business so what are you gonna do so we've had a bit of a chat my dad's reefer so he thinks that I'm a worthwhile investment and such so would any of you be willing to do anything for 20 20 percent said no I will do 33% I know this I have lived every up every down every tear so I think you're getting me cheap for 33 Steve the user's device your offer um how much I'm not changing offer okay

so what are you gonna do [Music] Logan you're allowed to camp yep Jenny when you did 25% play he's just going to the 20s plays your name it's don't get on your name whatever you do [Music] I want to do the deal with you but for me I'm not prepared to move at all if you walk away from here I will still spend time with you I don't want you to feel that it's bad I actually know that what I've offered it is actually a good deal yeah but I don't want you feeling that so

you've got me either way but you have me as an equity holder yeah we can have me as a mentor yeah [Music] okay unfortunately we don't feel comfortable going above the 20% market this point in time I can't go okay but I will still spend time with you yeah we would love to take you up on having a relationship mate you've got me and who knows I may be an equity partner yeah tell me down the track but I was definitely definitely definitely thank you thank you so much so Morgan well done go out of

here proud of what you've done Thank You thanks folding [Music] he would have been better off having you as a partner and he will grow fastest no thank you fine I think he will find he will do okay I'll help him I'm real happy to have Jeanine as a mentor she's got so much experience in the food sector and it's just absolutely amazing to just pick her brains [Music] [Music]