“You Say You Developed it, I Disagree!” | Dragons’ Den

everything that i do is for my my children i'm sorry about this [Music] next into the den is khan a tough upbringing has made fanaz determined to provide her own kids with the financial security she left growing up i saw my parents struggle i saw poverty at a very early stage if i got the investment today it would mean forget the world it would mean the universe to me i'm here to build a better future for my children everything that i have done up until now is for them hello dragons my name is vanas i'm a mum of four and i am ceo of fit britches unlike generic shapewear fit riches not only helps you lose inches of the waist hips and thighs but were clinically proven to help reduce the appearance of cellulite and increase skin elasticity and collagen for a more firmer waistline i developed fit riches out of personal necessity after having four children and increasing in dress sizes i lost my usual self-esteem i started looking for a solution on the market only to find it didn't exist so i set out to create it it all started with big knickers and cling film i started wrapping myself up in the stuff my husband thought i'd gone crazy and i suppose the last draw was i went with my mom to a wedding and my mom queried why my dress was making strange noises it's a true story fitch bridges were nominated for best shapewear brand of the year award in the uk lingerie awards tower star gemma collins raved about us on itv this morning other celebrity features include khloe kardashian jessie j and many others i am here today to seek an investment of 75 000 pounds in return for 5 equity stake as they say seeing is believing this morning i made over three lovely ladies here is a picture of them without their shapewear and i would like to welcome our lovely ladies now [Applause] [Music] [Music] [Music] our ladies are wearing fit britches feel free to ask them any questions you may have or if you would like a feel please do so however avoid the one in the middle she bites [Laughter] [Music] khan has certainly entered the den with a bang she's hoping to squeeze 75 000 pounds out of a dragon in return for five percent of her shapewear company [Music] how would they compare have you ever worn spanx yeah they're a lot less comfortable like what were they less comfortable they seem a lot tighter around the leg area okay tighter than that yeah okay thank you thank you ladies and gentlemen with the human guinea pigs out of the way time for textiles tycoon to kasuliman to model his business now with some questions finesse that was a very impressive pitch thank you as you gather i may have a little bit of knowledge about this of course um one thing that comes to my mind immediately is they're quite thick and they're probably very hot believe it or not it's got thermoregulating properties they're designed to keep your temperature at a consistent temperature and as a result of that you're not going to overheat i'm sure about that yes you go around with a thermometer and just check your heat yeah i wear them all the time but i'm not saying that i'm just thinking they're quite heavy no i can come quickly and that might be uncomfortable for some women you will be surprised at the sort of levels as women will go to to actually look and feel great you see the problem you've got with this you can't paint in this funny you should say that i've spent five years on r d developing this product you say you developed it i disagree okay that technology has been around for a long time there is a show every year which is which is called the performance show whatever it's called i mean anybody could go to one of these shows performance fabrics and you could buy these all day long correct now i know i'm right well it's a bit like if you look at apple for example steve jobs did not develop you know something brand new he combined a phone he combined an mp3 player and everybody seems to think that you know it's innovative which it is but it's nothing new and what i'm basically doing is bringing together technology into textiles because i really do believe that's where we're going next [Music] farnaz is holding her own under a barrage of tricky questions from the dragon with fashion industry credentials but having negotiated the opening salvos it's time for the heavy artillery [Music] so how is the business trading at the moment in terms of revenue and you presume you've got an idea of your profit yeah basically we launched in 2013. i've turned over in my first year 165 000 pounds growth was 109 000 pounds with a net profit of fifty thousand pounds so next year next year i'm looking to do three hundred thousand pounds no sorry the next so you said 2013 i would assume that ended april 2014 so we've just finished 2015. sorry can i just explain in our first year i wasn't expecting i always believed that my product was going to be successful that's lovely but i don't care just tell me what the turnover was okay the following year because the figures have just gone in i'm anticipating it's 60 000 pounds sorry i'm still not sure that works so 60 000 pound what's your margin how much do these cost you to make right we had in our first year i basically had to buy in a lot of stock because of minimums so i don't have that in my second year no no but you do so when you run a business if you sell a hundred thousand pounds worth of stock you should be reflecting the cost of that actual stock against that trading period what's your margin can i help here what's your margin my margin is 87 87 you see if your account say that you turned over 165 000 and it cost you your cost of sales was 109 000. you certainly weren't getting an 87 percent margin so you're not the second year figures i'm sorry 109 sorry yeah yeah but that's cost of that you can't say that you can't come in here and say you don't know how your business works well you can but it's not going to get a terribly good response of course it's not there are not that many mechanics in a business that you need to understand that's only three numbers of course which is really simple sixty thousand pounds worth of turnover what were your costs of sales i'm sorry my mind's gone just completely blank at the moment and i'm just looking at figures which is not realistic at all obviously i'm under pressure it's no excuse whatsoever right stop stop take a breath take a deep breath and and just think about this because i'm not asking you difficult questions i know you're not i know you're not i'm just and i'm not even trying to be difficult i know you're not you know turnover gross profit net profit is not complicated and that tells me i don't think you know how to run a business a nerve jungling moment in the den as a brain freeze over her business's vital statistics puts farnaz in the firing line of deborah meaden will sarah willingham pour oil on troubled waters you came in so well you were so powerful and you we all almost kind of sat up and like oh this is going to be really good and you told us your story and unfortunately and and there is a but um you've actually made it very very very hard to invest honestly because we don't really know where we are and i think in the end it's not investment actually that you need right now you need sorting out so for that reason i'm gonna say i'm out a painful blow for farnaz as she suffers the loss of her first dragon and nick jenkins isn't looking too impressed either can i tell you where i am um you started off incredibly well i mean you came bursting in here full of energy and talking about all the wonderful things that you've done and the wonderful promotions you've done and you've got khloe kardashian involved and all sorts of things i frankly i felt rather privileged that you turned up so uh but then then it sort of started to slightly fall apart after that um i think what you do need is a is a partner and it probably needs to be somebody who really understands how you can get into the retail side of this and i i can't offer that to you so i think for that reason that reason only uh i'm out um but i wish you all the very best [Music] you actually think that when you're investing you get a dedicated mentor that will roll through this business as if it's theirs it's not an internship that you're applying for because the reality is my life is about investing in entrepreneurs you get what you need you get access to the experience and the help that hopefully i can provide but you then also take on board all of those things yourself and drive the business through to the finish line so i'm going to wish you well and say sadly at this point i'm out [Music] sometimes you're really not going to like this song and i'm not saying it for my own gratification i meet some people who are just not they just don't get the mechanics of business and it's not even about learning you you might be that person who actually thinks they learn but doesn't learn i am not normally like this i'm probably buckling under pressure you know i never left i never finished school i didn't have the privilege of having an education i did not have a mentor i did not have anybody that guided me you know i was basically guided by my own sort of passion and that was because i wanted my kids to have a better future everything that i do is for my my children i'm sorry about this that's all i've ever been about that's a very good reason to do what you're doing this is going to make it hard are you ready i'm sorry i won't be investing [Music] four dragons out as debra medan takes no prisoners despite the emotion in the den farnaz's chances of investment are hanging by the slimmest of threats her hopes now rest with two kasuliman first of all i respect exactly what you've done up to now because i know what it takes to get there thank you and you know in a funny way i would be the the most obvious dragon to invest in you i think you know that the question is will you [Music] you know something you've got to really respect yourself to where you are today first of all it takes a lot of guts to come between five dragons here it's not been easy i know i know i haven't got the amount of time that you need you know and all i can say is i can't invest in you so i'm out thank you thank you very much [Music] for getting the numbers rarely ends well in the den farnaz leaves i feel disappointed with myself i started suffering from mind block i don't know where that came from that's never happened to me before i know my figures inside out and it's just so disappointing that it's just let me down what a shame she'll do it though that grit you

Channel: Dragons' Den

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Keywords: Dragons' Den, Dragons' Den episodes, Fit Britches pitch, Khloe Kardashian fan, business development tips, business innovation showcase, business reality competition, business reality show, celebrity endorsement, entrepreneur showcase, entrepreneurial journey, global entrepreneurship, impressive business pitch, investment challenges, investment partnership, investor, pitch competition, pitching tips and tricks, product innovation, startup pitch, successful entrepreneurs

Id: 9IOuxezyqJQ

Length: 14min 50sec (890 seconds)

Published: Sat Mar 13 2021