Dragons Blown Away by Ingenius Wall Threading Device | Dragons' Den

[Music] [Music] hello my name is sharon wright and i'm looking for fifty thousand pound for fifteen 15 sure of my company i first realized there was a problem threading cables and wires through cavity walls and void spaces when both a bt and a cable engineer visited my newly built home to carry out their install trying to thread a cable through a cavity can be hit or miss and nearly impossible in some situations without the aid of an improvised tool such as a coat hanger or a drill bit both these ad hoc methods present themselves with major health and safety problems as well as wasting valuable time they have to thread from the inside to the out at an angle as well as having the cavity insulation to contend with it was after these visits i had my eureka moment and invented magnamol i approached bt they liked the concept and they liked the prototype but they wanted me to prove the value of the product so for your normal install from the inside of the property simply insert your rod and you're now on the outside of the property the pack comes with five caps and they're tapered to screw on the inside so they fit onto any size cable or wire simply twist them on until snug align the magnets and push the cable through seal off and the job is done the product had to work in all threading scenarios and the results showed a potential saving of 6.5 million in downtime alone per year i have a two-year contract with bt to supply all engineers in the uk i have a two-year distribution agreement with schneider in the uk and i have a distribution relationship in the usa covering all 50 states of america and canada i also have a letter of intent for 1 million units the product is proven to work first time every time thank you for your time has anybody got any questions [Music] it's an impressive start by sharon wright from scunthorm who wants a 50 000 pound investment in her time-saving cable threading accessory she's prepared to give away 15 percent of her company magnamol duncan valentine is first to question the inventor shannon a bit taken back it sort of seems too good to be drawn too simple what does it cost you to produce it costs from 97p to pounds 74. what are you selling for to wholesale i'm selling them out from anywhere from five pounds seventy minimum up to twelve pounds so question your phone you're selling for five pounds yeah okay how many of you sold thirty six thousands i've sold that i've invoiced and been paid for and i've got another 11 and a half thousand units that i'm waiting for carl off from bt contract the big question is just hit the back of my brain is why do you need any money you've you've you've invented a product i take it you peter did it yep it's got a uk granted patent it's also got the international patent you showed a huge number so why do you need anybody's money why take somebody else's money and give them equity in europe because i'm working fantastic company 16 20 hours a day seven days a week and i need your help to take me to the next level [Music] sharon's staying confident james khan is keen to know more about the inventor herself what's your background how did you i i'm i'm confused my background was health and safety and quality shortage which naturally go together i'd moved into a brand new house i'd had the uh the install bt would you in the morning they didn't arrive till lunchtime so i was under pressure obviously to get back out the door to do my job i asked him if there was anything i could do to hurry the job along and he said i'll get my tool from the van and it was a coat hanger which naturally i thought my god you don't even know what's on the inside of that cavity my health and safety background came into force and it it just came i just had one of those eureka moments and i thought i can't believe this product's not out there so i did my research i looked at everything think it's ingenious thank you it i was told from the patent attorney when i first went to see him it's a no-brainer it was like the cat size situation and that gave me the confidence really to take it to the next level i'd like to say you're fabulous so i'm going to say it you're fabulous thank you i'm about right check 50 000 pounds from my children's hard-earned inheritance good what are you going to do with it 5000 would be for the card inserts to have the language interpretation multilingual i want to go global and go into every single country with this product 10 000 would be into the the website obviously the language interpretations and for market research 35 would be for staffing so it releases me to be able to do what i'm good at to go and be a nurse i have no staff at the moment i've got one person that works one day a week that's all i can do and this is your full-time job this is my full-time day job night job even in working weekend job now i have an office i do have an office in my hometown skunkthorpe scanthorpe yeah tell me sharon do you have a family i have a 12 year old little girl who's my biggest fan and biggest supporter okay that's it sharon has yet to put a foot wrong but peter jones thinks he might have spotted a floor the biggest issue and potential floor to me over this invention is the fact that it's not an invention or a product that actually will be purchased more than once you kind of almost want your product to break occasionally i think once you've hit that market what i'm saying is i think once you've hit the penetration i wouldn't agree because my next product my next invention takes the cables down the inside of the cavities but you have to buy magnamol to be able to retrieve it and that's why the distribution change that i've got i'm working towards longevity i told you um i think you've done amazingly well i really do so i'm not going to declare myself out yet i'm going to sit tight and wait to see what the dragons do it's been a clean sweep of praise for this entrepreneur and her product but sharon has yet to receive an offer is deborah meaden prepared to invest i've got to say you're great you present well you've done a fantastic job you know i think we're all sitting here thinking what do we ask she's brilliant but i'm not understanding exactly what you're expecting from investor you're looking for contacts are you looking for office space office support very specifically what are you on i think i think i could have moved this a lot quicker i'm quite disappointed in myself for taking two years to get from i wouldn't be sharon i should be quite pleased with yourself i think this is the first time ever in a den someone has come in and all five dragons jewels have dropped no you're very the floor so do not be disappointed thank you but for me just having someone at the end of the phone so i'm not up 23 hours of the night and only getting one hour sleep because some decisions take me a long time to make them and i still battle with them and i have made mistakes along the way but still just having that confidence as somebody who's been there and done it that's priceless to me it's absolutely priceless to me sharon can i ask you one question yes if you're a magic wand yep this was your magic wand and you went yep what would you like to happen as you walk out the den to receive the 50 000 pound for 15 sure of my company from from particular dragons from james and duncan if i'm being honest okay focusing on one investor over another is a dangerous game to play in the den will sharon's candle pay off i mean the company that james and i are investing is called electro expo has chop box wrap strap and three other products that haven't been on dragon's dan okay so um i i i mean yeah i think i think sharon is very very investable so are you making an offer two minutes we certainly will be we're not sharing because only because they're waiting to spoil our offer nobody wants to break cover first sharon that's what's happening here yeah there's no office on the table yet sharon let me help you i'm gonna break cover because um you deserve it thank you duncan and james i've already said they have they're happy to make you an offer you've already said you've come in that then looking for an offer from duncan and james as far as i'm concerned i'll be more than happy to underwrite what you asked for uh which was fifty thousand fifteen percent so i'm your insurance policy here okay [Music] in a bid to flush out a potential offer from his rival dragons theo pathetis has shown his hand but it's not gone down well with duncan banner time i remember sean we had a fantastic young lad who came in front of us um who the retail product i remember saying at young lad you know it's a fantastic product and the best person beauty developer product is steer for peters and i pulled out and i let thea do the deal with the yeah obviously these three dragons are not as honorable as me and they won't do that if i could make her an offer you can do it she wants you to make her an offer can james and i go to the back of the room just it's a bizarre den moment will james khan and duncan vanitine come back with a tactic to out-fox their rivals thank you sharon thank you very much who's in charge here um should i sharon we've had a little think yeah we've added a bit jim just phoned his wife and i found my mother we like make you an offer okay um sharon you've come in looking for 50 000 um we would like to make an offer for 80 000. because to go into america australia and all of that yeah um to do it properly yeah you know i think it's better to have a bit more than to have a bit less um but we need 25 percent um no sharon now has an offer for more money than she came in for but in return for much more equity is deborah meaden prepared to take on sharon's preferred dragons to clinch the deal [Music] without a doubt these guys are very well placed but you shouldn't discount the experience that other people have because to be honest getting out of the overseas market in one area is quite similar to getting into overseas market in other areas and we all of us have experience in doing that and certainly nobody ever complains when they work with me so i will make you an offer and i'll make you an offer at the level that you asked so fifty thousand pound fifteen percent if we do work together and find that we needed more money in the business yeah i just make the business happen and i provide the funds to do it as long as i'm convinced on the business plan okay [Music] it's a show of ruthless determination from deborah meaden now peter jones is ready to tell sharon where he stands [Music] i think and feel that you don't need any money and i think you need an individual or individuals that are going to take this product help you take this product and expand it and i think it's going to go potentially global and i think i'm going to shock everybody by saying i'm going to declare myself out because i think that duncan and james are the best place to take your business forward okay sure just have a reflection i think okay in an unusual move peter jones has made way for his rival dragons sharon now has to decide between accepting more money or keeping more of her company thank you for your offer everybody i'm a businesswoman and i'd be stupid not to negotiate further would you go for 20 and i'd be happy to do the deal with you two guys would you meet us at 22 and a half yes i would so you're very pleased and i would love to do the deal with i really would thank you thank you fantastic i'm so proud sharon's done it she may have given away more equity than she originally intended but she walks away with more cash and the two dragons she wanted amazing absolutely amazing she was absolutely fantastic one of the best i've seen immaculate absolutely very good [Music] well sharon it's hard to think of a more impeccable encounter your daughter will obviously be very proud i imagine molly will be so proud of me she's been my biggest support from day one and she said to me this morning you can do it mum and no she will be so proud of me well you're undoubtedly the star of scunthorpe tonight very very well done indeed thank you very much you

Channel: Dragons' Den

Views: 1,572,666

Keywords: united kingdom, british tv, british tv shows, watch british tv shows online, watch british tv online, dragons, ideas, peter jones, deborah meaden, dragons den worst pitches, dragons den funny, dragons den 2021, shark tank, new dragons den, new shark tank, sara davies, tej lalvani, former electrician, electrical staple gun, best dragons den pitch ever, most impressive dragons den pitch, magnamole, magnamole dragons den, magnamole magnetic cable guide, magnamole sharon wright

Id: PsjayihqedQ

Length: 14min 48sec (888 seconds)

Published: Wed Jan 05 2022