“Wait, You’ve Got a 90% Shareholder That Isn’t Here?” | Dragons' Den

I find myself quite offended I don't understand you're not facing reality you've spent two million yes I need a drink [Music] hello nice to meet you all my name is Michael I am an inventor I am also a director of go bubble limited I'm here today to ask for two hundred thousand in return for a five percent share of the company go bubble is a two-part system that seals and preserves an opened bottle of champagne this is the closure it goes on the top of the bottle once locked in place this second part a carbonator is inserted and twisted that operation the initial injection of gas forces the air already in the bottle out through a vent in the side the bottle is now perfectly preserved the markets for this every bar restaurant hotel who sells champagne by the glass each glass as good as the last for just 20 pence we've got over 200,000 outlets in the UK alone just a 7% an iteration of these would realize a net profit of three million pounds since 2012 sparkling in the UK as consumption has increased 80% it's a bit of a revolution I'm saying let's join that revolution let's make some money and to finish I would like to serve you out of a bottle that we actually opened nearly four weeks ago Michael Gormley hopes he'll have something to celebrate once the dragons have sampled his champagne preserving gadget services little he wants two hundred thousand pounds in exchange for a five percent share of his go bubble business with good investment will an investment sparkle for touka Suleiman Michael yes you said you're an inventor yes tell us about how you got here and in the forces when I was young mending helicopters principally a lot of work on gas turbine engines it sort of gave me that brain and had the idea initially of creating something to keep Cola from going flat in the course of the development of that this came up mine isn't as bubbly as I was expect it to be and let me tell you our sales director is a wine connoisseur he has one of the best noses in Britain apparently he assures us that this does the job this has traveled with a prototype Tapan you've come up with a valuation of you wanted two hundred thousand to five percent from the shrine so four million pounds yes I'm assuming evaluation of four million pounds must have some sales no we have put it in places but it's prototype for them you put in two places how many five in total I'm okay with people investing in a business where it's pre-revenue I understand that model how much money have you raised for the for this business two million to date you've spent two million yes where did you get that two million from private master and he said I really like the idea yes and he his company has invested two million pounds to date and how much of that 2 million is still with the business it's all spent so you've spent the two million yes who owns the company he owns 90 percent iron 1000 cane is he here waiting to come in no why he's on holiday at the moment you should have brought your main investor here you've got a 90 percent shareholder that's not here and and that's that's a big thing I need a drink Michels admission that he owns just 10% of a company that's already soaked up some serious cash is a sobering revelation now Taz Levani chief executive of a multinational brand wants to know who's the boss at go bubble who's gonna run this business myself seriously seriously sorry have you had experience running a business I have a property portfolio yes property portfolio managing tenants that's a very different thing to launching a new product you have no orders you're not facing reality do you really believe that you're gonna get an investment today I was hoping you'd listen to me but so far no one has the model is is actually based on the cartridge sales and it's the repeat sales from the cartridges that generate the money and that's why it's clever Michael I find myself quite offended by the fact that you've said to the Dragons that we're not listening and I am now she said anything yet you believe in this an invention is wonderful and we have to have inventions to actually land the thing that makes a success in the end I might have said to you love this going to investment really sorry I certainly didn't mean to be it was only because I wanted to explain the cartridge you believe in this but this is absolutely crazy I think the bubbles have gone to a lot of people's heads and for that reason I'm going to say I'm out Jenny Campbell bursts michael's bubble by failing to finance a deal as the heir gone out of an investment for the other dragons okay it's lovely beautiful looking it's the type of thing I'm sure I would love to own you know but you haven't even got the patent yet have you yes we have you've got the patent I thought you were in process the British patent is applied for and then the next stage is to go to European no applied for have you got the patent is it granted the the predecessor of that is granted does not have a patent on it but it will do effectively yeah but it hasn't you've got a prototype I do not understand how you think you can value this at four million pounds it's really quite simple that there really is a mark fact that it's not a good idea I'm actually quite small just so you surprised I see a lot of businesses I see a lot of business that have got past patents applied for and I see the values based on those businesses this is about the potential the product is six months from production at which point we can start selling six months from production I'm gonna say these words to you you've got a prototype and you don't have a patent I'm never going to investor anything close to that valuation so I meant Michael he mentioned that you're going to run the company but with with 10% you can't run a company if 90% is owned by someone else was not here I actually think you're wasting everyone's time so I'm out four dragons have now put paid to Michael's investment dreams only Peter Jones remains will his verdict leave the entrepreneur toasting success or drowning his sorrows your product seems brilliant but very niche so I understand you picking on perhaps a Michelin star restaurant where they would want to offer perhaps a 50 pound glass of champagne yeah and your product I can see fits that bill really well yes but that market opportunity is small thousand five hundred units first year four thousand and then eight thousand that is a very small proportion of the market and we only need those sales to realize the three million net profit so it's a win-win do you know what I know I'm not going to disagree with that but you basically put the cart before the horse today I can't invest in this because she got nothing at the moment to invest in so I sadly I'm out so a full five rejections for the champagne entrepreneur the Dragons failing to raise a glass to his investment opportunity I wasn't trying to insult them it is a start-up business I was trying to tell them about the potential it has I believe in this product I think the Dragons are missing a trick to my mind this is going to be the biggest they've ever missed you should have given us a bottle each that's what you should have done only yeah you you

Channel: undefined

Views: 1,381,520

Rating: 4.835484 out of 5

Keywords: dragons den, dragons den uk, evan davis, deborah meaden, peter jones, touker suleyman, tej lalvani, business pitching, entrepreneur, shark tank, dragons, businesses, dragons den funny, dragons den 2019, dragons den season 16, dragons den best pitch, peter jones dragons den, peter jones angry, jenny campbell dragons den investment, TRIX' card game, peter jones argument with entrepreneur, jack and peter jones, card game, pub argument dragons den, philosophy dragons den, 2020

Id: XYE_Unk5-14

Length: 10min 20sec (620 seconds)

Published: Sat Jul 27 2019