What Happened to Donugs After Shark Tank Australia?
What is Donugs?
Donugs is a combination of donuts & chicken nuggets. It comes with three different sauces. It’s a fun product. I mean everyone loves donuts & chicken nuggets. You can’t go wrong with them.
Just combine these two, and you get Donugs.
There’s delicious chicken on the inside. You can choose your desired toppings. Lastly, it will be coated in crispy panko crumbs.
Who is the Founder of Donugs?
Crag Carrick & Rachel Dutton are the founders of Donugs. They are husband and wife. Crag came up with the concept & Rachel’s been a chef for 15 years.
Donugs Before Shark Tank Australia?
Crag just wanted to give the world a fun product. He came up with the idea and his wife made it happen.
How much money did they ask for on the pitch?
They came to Shark Tank Australia seeking $100,000 for a 20% stake in the company. Which gives the company a valuation of $500,000.
Crag needed the money to set up a manufacturing unit. With the unit set up, he can take things to the next level.
With $100,000, Crag wanted to use $50k to make 10k Donugs. He wanted to spend $40k for manufacturing units. And $10k for cold storage, logistics, and other expenses.
How to get Donugs?
You can get Donugs at their events.
Unit Economics of Donugs
The price of each donugs is $9. With all the sauce it will be around $12. The cost of making each donugs is $2.20.
What are the Annual Sales of Donugs?
Crag did 2 events. You can check out the next upcoming events on their website. There you will find all the updates.
Which shark gave Donugs an offer?
Andrew Banks was out. He thought the execution in this business could get really messy. He didn’t give any offer for that reason.
Glen Richards was out. He’s very conscious when investing in a food business. He would’ve thought of investing if the product was placed more in the healthy category.
Steve Baxter was out.
Janine Allis was impressed with the food and the founders. But she didn’t give any offer. She was out.
Naomi Simson was impressed with Donugs. She offered him $100k for 25% of the business.
| Offer 1 |
| Naomi Simson – $100k for 25% |
Crag didn’t give any counteroffer. He took the deal.
What deal did Donugs get in Shark Tank Australia?
Donugs got a deal from Naomi Simson in Shark Tank Australia. The deal was $100k for 25%.
| Company Name | Donugs |
| Founder | Crag Carrick & Rachel Dutton |
| Asked Amount | $100k for 20% |
| Final Deal | $100k for 25% |
| Shark | Naomi Simson |
| Company Net Worth | $400,000 |
| Company Website | loveadonug.com |
| Company Status | In Business |
What is the net worth of Donugs?
After the Shark Tank Australia deal, the net worth of Donugs is $400k.
Is Donugs still in Business?
Yes, Donugs is still in business serving people donuts & nuggets combination.
