A Melbourne man has picked up $100,000 on Shark Tank after delivering the investors chicken nugget doughnuts, of which he calls Donugs.
Crag Carrick and his wife Rachel Dutton entered the tank looking for a deal of $100,000 for a 20 per cent stake in his new culinary venture.
He told the sharks, "I’m not changing the world with this product, I’m giving something that’s fun, it’s easy to understand, people get it straight away."
The Donug is a combination of a chicken nugget and a doughnut... kind of.
The treat is "98 per cent chicken that has our unique and top-secret spice mix. It’s got then a cornflake and panko crumb and three different sauces — a cheesy dijon bechamel, a golden Japanese curry and mozzarella, a hot chilli, or you can have it just on its own."
Crag said that he was seeing so many crazy food crazes coming out of Los Angeles and Japan, so he wants to make Donugs "to be the crazy new food trend coming out of Melbourne."
The sharks were impressed with the taste, but their jaws dropped when Crag told them that the Donugs sell for $9 each, but only cost $2.20 to make.
That number would rise during the manufacturing stage, but Crag has already made an $8000 profit on his invention!
"I’ve been working with a manufacturer so far trying to get a prototype together. $100,000 basically kickstarts the process. $50,000 gets me my first 10,000 Donugs made, $40,000 is for a proper event set-up, and the $10,000 is for insurance and branding."
Although most of the sharks didn't want to jump in on the new product, Crag ended up closing a deal with Naomi!
"I don’t think you need to come back next year because I’m about to make you an offer."
So now, according to Crag, we can expect Donugs in "at every sporting ground, every servo, every fish-and-chip shop".
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