Dragons Can’t Stop Talking About Peter’s Genius Idea! | Dragons’ Den

for our first entrepreneurs deciding what to wear for the toughest pitch of their life was easy they took inspiration from their product with the costumes that were wearing hopefully would get a very positive and quiet stand out reaction from the Dragons we're looking for them to smile [Music] [Music] hi dragons I'm Joe and I'm Andy and we're the co-founders of just be drinks today we're looking for an investment of sixty five thousand pounds in return for 10% equity just B is a light and refreshing flavoured spring water drink but the difference is instead of adding refined sugar or artificial sweeteners we use a single drop of honey each drink is completely natural very low in sugar and less than 50 calories but why honey well my dad's beekeeper and my granddad was - I grew up having my dad's honey in cups of tea instead of sugar a few years ago I mentioned this to my friend Andy and we wondered why did you never see soft drinks with honey this was the start of our big idea for a healthy drink using honey well we had a fantastic first three months gaining listings in premium retailers Selfridges and Fortnum and Mason we're now stocked in over a hundred outlets across the UK and Ireland from delis and coffee shops to hospitals and office canteens we've recently started discussions with the national retailers we feel this is the next exciting step for just be thank you now we have some drinks for you to try and II Sugden and Joe Harper are on a mission to refresh the soft drinks market they think sixty-five thousand pounds should do it under 10 percent sweetener is on offer in return Peter Jones wants to share his thoughts on the entrepreneurs attire I won't go through the sort of days you have in the den and when those doors opened and I saw you two coming out dressed like that I really thought we've got a couple of Charlie's coming in and I was terrified my first reaction is why hasn't this happened before we're asking the same question why you haven't found the answer the success you've had so far could you quantify that now in terms of sales so sales for the first 12 months was 50,000 pounds and an operating loss of 38,000 pounds what capital did he put into the business each at the start so in total so far we've put 33,000 pounds each in and we have also received some additional investment from high net worth individual already from what's-his-name he's called Simon Leonard and how much did he invest so he put in 150,000 pounds okay he got 23% for that okay so right in thinking that your net assets are currently sitting around 170 Kay no so the current balance sheet is about 45,000 of stock okay about 19,000 of debtors about 19,000 pounds of cash and 36,000 pounds of creditors what's that make your net position then one hundred and twenty one thousand I can't tell you how many people can't do that we've spent 20 minutes trying to get that out some people very impressive Peter Jones doesn't handout plaudits very often but the entrepreneurs firm grasp of their businesses books has clearly made a good impression now Deborah Medan wants to find out whether these golden boys also have green credentials what I want to talk about is sustainability because the story is lovely the fact that your father your grandfather would be keepers but actually one of the problems that have caused colony collapse is intense farming of bees okay so should just drive a load of product fueled by honey is a little bit counterintuitive yes some beekeepers take all of the honey away from the hive and then fill it full of sugar sugar syrup yeah we've made sure that all of our beekeepers in all of our supply there are completely ethical and they leave in North honey for the bees to survive winter okay because if you're telling a lovely story about bees that needs to go all the way back to the hive you know actually we're looking after these as well but you're not gonna like what I'm gonna say but this is only me personally I don't like she like the taste honey has a very slightly antiseptic taste doesn't it I personally don't know it's probably just me you like don't you like can I just ask I loved it I know you mean about the taste I do know what you mean a bit that's why that's why I don't put honey in tea because it adds a flavor sugar doesn't yeah it's the first time I've heard that feedback although you've heard it from three people here I mean it yeah a slight sting in the tail from Deborah Medan who declares the taste of honey not to her liking but the dragon with a portfolio swarming with drinks investments couldn't agree less I just want to start with saying I love the product I really do I think it's got a great flavor but I don't think it's a very mass-market flavor and the squash market is not going to be substituted with that the water market will go all this to nice treat but we'll still want to hydrate themselves with water but just because it's nitch it doesn't mean that this is not possible it just takes a lot of power and a lot of marketing what is your price point what would I buy that for or our RP is 1 pound 69 that's quite a luxury isn't it that's that I'm trying to see where it would go can you walk out of here make a phone call to Tesco where would they put it so in the first year we've placed ourselves in a sort of a premium category of the flavored water but once we get to volume and we're in the likes of Waitrose or or Sainsbury's little Tesco will be looking at the price point reducing to 1 pound 49 because I can see it in the pret the Kostas I'm struggling with it as a supermarket product because it is it's very premium to put 10 of those into your supermarket trolley I think that's quite it is quite a big ask when the queen bee of the beverage market doubts your drink's ability to reach a mass-market it's not good but Peter Jones thinks he may have hit upon a solution I can see this getting you into the the smaller places like the delicate essence the specialist exactly where you are but then your mass-market product you see what robinsons has brought out with their small little squeezy concentrate I don't understand why you didn't think about bringing out the very ingredient that actually goes into water in the first place in a bee-like squeezy so that actually that's the product that goes mass-market in supermarkets radiates your brand it's a lot more cost-effective to the consumer to buy that and it comes in a be little pat you squeeze it into your glass of water kids have it at home it's brilliant I've got to say what Peters just said is I hate so this is going to go on about it for everything else and no but I am gonna say it is actually genius because that's your squash market if you can produce the concentrate effectively as a squash - you must market product can I just ask about the stability of honey because of course there's a crystallizing issue with honey that is a fantastic idea amar I think there might be a technical issue why you can't make cordial with honey sorry once you once it's dissolved it doesn't we still debating why they talk about the victory place where they talk about my idea and discuss amongst themselves I'm gonna make you an offer full of the money for 25% of the company okay would you like to respond to that now well I would prefer that you didn't try and negotiate and then at the end of all of this we can share the honey bee hive yourself like it an offer from Peter Jones whose ability to catapult a brand to the big time is no secret will the cordial atmosphere continue with a bid from Deborah Medan first thing I will say I think you've done a great job I love the branding I love the authenticity you could have won me over on any day of the week but unfortunately I don't like the taste and for me to be a really engage for something I've got to be able to sit here and say but it's lovely and I would be very clear about that that's personal I know people will like this taste so that's the only reason but I won't be investing I'm out thank you I love the story and a big fan of bees slightly concerned that the honey flavor might make it fairy nation in the people who love it but there'll be a lot of people who won't so for that reason I can't get over the line so I'm out guys um I like what you've done I've been great I like you guys too however I think in this sector which is not really my sector you've got a perfect offer from the perfect dragon so I'm not even going to play numbers of anybody on this I'm not the right dragon for you guys so for that reason I'm out Tuka Suleyman steps aside graciously joining Nick Jenkins and Deborah Medan in going out but Peter Jones doesn't yet have the deal in the bag could drinks tycoon Sarah Willingham just be in the mood to mix things up a bit I really like the product I've said that I love the flavor I do think in its current form it's going to be a real struggle at mass market and I've spoken to the buyers of the major retailers the big supermarkets and this is an area that they see is very saturated there's a lot of people in there already fighting for the space I do think it's going to be a hard sell so I'm sorry amount so that's sarah Willingham out of the picture leaving just that one offer from Peter Jones now it's all down to the negotiation we hope someone was going to make this competitive twenty-five percent is a long way away from where we were at ten we really do believe that this could be huge is there anything we can do I don't think so because I do think it's one of these situations where it might not go anywhere you know I'm not gonna say you don't have a brand yet because you do you've done really well but I think that I add enough to justify why I would want 25 percent tangibly what would you would you bring I think that the relationships that I've got with the supermarkets people like Mike who run Sainsbury's or and Enoch who looks after Asda or that I can go on and these are direct relationships and 25% makes it interesting for me share a shaft yeah [Music] before we make you a counteroffer like to tell you a few more things so there's a huge export opportunity and we're getting emails left right in the center we're actually in the listing process with Waitrose at the moment and Boots and Whole Foods we believe there's a real value in this company based on what we've just said we'll counteroffer 15% guys I'm the OPS's no I wouldn't go down to 15% if we drop down to 15 we're at a third each but that would mean I'd had 25 you'd both have 28 each and our other investment of the rest so you'd be the majority shareholders you'd still have complete control you don't over fifty percent of the company just saying of on watch out [Music] I'd love to work with you but we can't go about 15 cents guys look you've made your decision I think but on the basis the fact that I'm not willing to change my offer I'm gonna have to say that I meant a pitch buzzing with excitement but resulting in a frustrating finale for the entrepreneurs Peter Jones may have thought the product was the bee's knees but not enough to drop his equity demand you know what I still genuinely wish them the best of luck I hope I'll make it although I hope they don't pinch my idea it feels slightly crazy to turn down Peter Jones who's tempting at the time but I think we probably would have woken up tomorrow and couldn't regretted it you

Channel: Dragons' Den

Views: 1,780,875

Keywords: bbc iplayer, british tv shows, watch british tv online, dragons, best, new, pitches, funniest, moments, most, shocking, products, businesses, peter jones, deborah meaden, dragons den worst pitches, dragons den funny, dragons den 2019, shark tank, new dragons den, new shark tank, tej lalvani, touker suleyman, Joe Harper and Andy Sugden dragons den, just bee drinks, peter jones how we made our millions, work smarter not harder, dragons den 2020, peter jones genius idea, touker time

Id: 2Qf58Mhx9Kg

Length: 16min 26sec (986 seconds)

Published: Sat Aug 01 2020