It’s not often a small independent retailer will turn down an offer from a successful entrepreneur to improve his business - but that’s exactly what Dean Salakas did on Shark Tank.
Appearing on the television show in 2015, Salakas turned down an offer from Boost Juice founder Janine Allis for an investment in his business – The Party People – which has a turnover of $4 million.
The business owner sought $400,000 in return for 5 per cent of the business and – despite having room to move – he elected not to take an investment from the “shark”.
Following Salakas’ appearance on Shark Tank, online sales for The Party People doubed in the days after the show went to air.
“It’s been massive, the publicity for the shop has opened up opportunities for investment and supply,” Salakas said.
The Party People specialises in catering needs for all types of events and has a huge range of dress up costumes and party accessories for children and adults.
The retailer has two stores in NSW at Sans Souci and at Drummoyne as well as its online store which generates a significant part of the retailer’s sales.
“We’re looking at opening a couple of new stores,” Salakas said.
The Party People were recently recognised for their business success, receiving the Australian Retailer Association’s 2017 Independent Retailer of the Year award.
Salakas, or the “The chief party dude” as he likes to call himself, has also been recognised personally for his contribution to the retail industry, receiving the Individual Retailer of the Year award.
The 34-year-old has always been a part of the St George community growing up in Kogarah and now living in Rockdale where he works mainly from home.
