On Wednesday night, the Sharks will receive a pitch from a very familiar face -- the star of Season 7 of The Bachelor Australia Dr Matt Agnew, who is looking for investment in his non-alcoholic beer Pash.
"When I stopped drinking at the start of 2020 there were a few [non-alcoholic beer] options but it was still reasonably limited," Matt told 10 Play.
"Since then there's been several new entrants into the market but one of the things I thought was missing -- there wasn't one that quite nailed the taste that I really liked," he continued.
Matt also noticed that when it came to marketing for beer -- alcoholic or non-alcoholic alike -- it was always heavily targeting the "stereotypical Aussie beer-drinking bloke".
"I just didn't think that was particularly relevant to myself, it didn't represent who I was and certainly I don't think it represented other men that I knew," he said.
"I know a lot of people who aren't men who like drinking beer as well, so there was this underserviced market outside of that outdated trope."
On top of that, Matt wanted Pash to be a non-alcoholic option that wasn't camouflaging itself on the shelf. A bold, colourful can, it was important for Matt that it not look like a regular can of beer.
"If you look at some of the existing non-alcoholic beers, they can look as though they’re an alcoholic beer in disguise, they look to mimic the style of an alcoholic beer so people may confuse the fact that you’re drinking it that you are drinking. I think that continues to play into the culture around not drinking -- this taboo thing that should be shameful and hidden," he continued.
"We also had a lofty goal, to encourage and empower people to pursue their 'pash'," Matt added. "What is your passion in life, the thing that you get excited about and want to pursue?
"Pash is about empowering people to make those choices, confidently and boldly and unapologetically."
Heading into the Tank, Matt knew his product and why it is a compelling investment opportunity, and he more than most knew the importance of making a red-carpet-worthy first impression.
"You only get a very small window to pitch to the Sharks. It was really important that I have a clear, powerful pitch that said everything I needed to in an incredibly engaging way," he explained.
"When you're pitching and looking for investment, you need to know all of your business numbers like the back of your hand," Matt continued. "You need to know profit and loss, balance sheet, performance forecasts, all of that stuff needs to be rock solid and justifiable.
"They were the two things that needed to be air-tight when I went into pitching to the Sharks, and it was something I probably sunk the most time into. Making sure the pitch was clear, succinct, and got across why Pash is a great business and a compelling investment."
See Matt's pitch to the Sharks when Shark Tank airs, Wednesday night at 7.30 on 10 and 10 Play!
