Canberra entrepreneur Mick Spencer gets $600,000 on Shark Tank

Pitching to some of the country’s top business people was always going to be sink or swim, and Canberra entrepreneur Mick Spencer well and truly swum.

The CEO of custom sportswear company On The Go Sports appeared on the first episode on season two of Southern Cross Ten show Shark Tank.

On The Go Sports CEO Mick Spencer presents to the 'sharks' on Shark Tank.
On The Go Sports CEO Mick Spencer presents to the ‘sharks’ on Shark Tank.  Photo: Network Ten

 

The 25-year-old went in hoping to raise $300,000 for the business, but walked away with double that.

Three of the “sharks”, Boost Juice founder Janine Allis, Talent2 International’s Andrew Banks and tech start-up multi-millionaire Steve Baxter, invested $600,000 for a combined 30 per cent stake in the company.

Spencer said the response nationally and internationally since the show has been overwhelmingly positive.

“Being associated with a program like Shark Tank builds a lot of professionalism around the brand, it builds a lot of authority around the company and to show that we’re here to do business now,” he said.

“It enables a lot of growth for us to have our investment down pat, and for us to invest more money into employing staff in Canberra which is great for Canberra.”

The company is now focussing on rolling out their customisation station in retailers around the country, and breaking into the US market late next year.

Spencer hopes his appearance shows that anything’s achievable if you put your mind to it.

“The thing I’d like others to know is that you can use my story as someone who wasn’t the smartest, academic, educated person, just started my business with the money I had in the bank which was $150, and was able to build a multi-million dollar enterprise by 25,” he said.

“If I can do it anyone can do it really. And that’s my passion to show others that anything else can be done.”

To read official article click here: http://www.canberratimes.com.au/act-news/canberra-life/canberra-entrepreneur-mick-spencer-gets-biggest-deal-in-shows-history-on-shark-tank–20160512-gotwn7.html

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