Insecure Inventor Refuses To Budge When Told by Managing Director | Dragons' Den

first into the Dragon's Den is Graham Whitby now he gave up a well-paid marketing job to risk everything on a new invention he's helping launch he's looking for an investment of a hundred and fifty thousand pounds but remember he has to get at least that amount or he goes away with nothing [Music] [Music] excuse me one moment okay thank you for your patience my name is Graham Whitby and I'm the managing director of baby dream machine limited today we're looking for an investment of a hundred and fifty thousand pounds the baby dream machine oh my wee-wee the business I'm a father of three okay so pretty sorry I'm a father of three and we started off there my wife and I had one we've had our first child we went into having horrendous sleepless nights and so when we moved on to having our second dear idea no no start again so my name's drain would be another managing director of baby dream machine let me said we're here today looking for 150,000 pounds I'm a father of three and when we had our first child was enough to put anybody off parenthood it really was so we when we first started out with a venture the business candidate I'd like to answer questions no no I'm gonna start again I'm going to compose myself okay I'm the managing director of baby dream machine Limited we're today here looking for a hundred and fifty thousand pounds the pitch is a vital part of getting investment got the better of you so just just tell us what the thing does and switch it on them okay go machine itself it's quite straightforward you have a child is inside the pushchair and it's quite simple to operate we have your switch office got to speed on the machine it starts off with leaving aside your obvious nervousness oh do you put a baby in this thing and do they fall asleep they did falsely yeah we've got plenty video footage of the machine actually so it won't it does work yes and how much you gonna charge for the thing it'll be in the order between 100 to 150 pounds are there any health regulations sorry are there any health or safety regulations you have to overcome with designing a machine so that so that it's a complies to all the necessary regulations and standards it's a it's a simple push button operation as well so you press the button 15 minutes that'll operate for a parent will go to sleep hopefully the child of you go to sleep we can't guarantee that the machine will send the child to sleep but but they're not making a motion that you get some units I think this is a product for the parents as well as choice it's very nice I don't know why you why you want us to invest I don't know why you don't work mother care let's have invented this fantastic thing you selling your shops you give me someone in you can have the contract we don't necessarily want to sign up sole rights with any retailer and I think if a retail which come to us at this point they've been looking for sole rights in the market we himself from this Barry who's the inventor I can't claim to to convince this product as fantastic as deserves my background has been in front of manufacture electronics manufacturer that's how I bury myself got together the inventors called Barry hey great Barry with you Barry's downstairs yes and I'd love to bring ya afrikanya yeah [Music] the dragons are about to meet ex builder Barry Hague the inventor of the baby dream machine hello how are you I'm Barry egg the inventor who invented this I've come up with the idea about that so a year ago and my own children were bond being working hard and pay mortgages and that need out of time for do anything and when my grandson was born and I had this problem again with babies I will semi-retired so I decided to make it and over the years I've you know made it that's what it's now I mean I've made quite a few prototypes but the first one now I've got one that's like prehistoric what if I showed you but it did the job I mean I got a bit asleep on the first one I made from screaming it said off in about 30 seconds and since then I've got numerous babies to sleep buddy I think I think we all believe the concept works you don't have to sell the concept early we're all with you have all got children with grain and berry growing in confidence the dragons are impressed enough to start talking figures so let's say I said okay I'll invest 150 K how much your business you offer me forward we're offering 5% of our business pipes and equity in the business so you're valuing a company that does not yet exist at 3 million pounds doesn't that sound a bit rich nope because it's got your interest I know after you just lost my interest on minor [Music] guys five three million three million pre-money value and a low I mean businesses of this measure go for half a million three quarters of a million max that's that's just where it is if you want to retain that kind of control then you got to find your hundred fifty out of family friends and fools mhm I'm not your family I'm not your friend and I don't care to be the latter okay if I were to negotiate with you before I started enough to know what the exit strategy was yes what's a success today the exit strategy for the business is that it will be up for sale from immediate effect from product hit in the market and and we anticipate that we'll be selling out the business within three to five years what can a price okay price on the business depends our sales you know depend on how the sales go we have got we have got a figure because the figure the sales figure for the business to sell the business to sell the company he's gonna be the order of about six hundred million that would be nice it was possible I don't think it's possible I think that's a bit that's what the fit that's what I figure is you're showing us that's what runs it that's based on unit sales of five million in the world market develop world market five million units good news is you don't lack for aspiration get we're gonna go and I hate when people under pitch yes yeah it's hard for me to criticize when they over ditch this man's this man's recruited me to look after his best interests and we're gonna do that one way yeah certainly and if isn't the right forum then so be it I think your current valuation of your business is completely out of kilter I think you have to start to be realistic now and start coming back to us to say look guys we're open now to real offers or you stick fast on your 5% mmm for 150,000 if you stick fast I'm not gonna be involved Graham and Barry won 150,000 pounds but they're only offering 5% to their business the Dragons want more for their money I bloom invest fifty thousand or five percent can we confer quietly you can confer quietly or loudly whatever you like no I'll cut out and going down the road you're going sorry I mean or Kira I mean we want to get some mid get on the market and we'll work with over can wrong make a few sell a few make I mean we're getting about we're getting the patents on it I mean and we've got a good plan on it wherever we have up the examiner's report saying it is possible isn't it is novel so when you run out of money a good mirroring okay thank you exactly on the same basis I was very interested I think the products fantastic I think that if you realigned your expectations then it would be a good investment to make but at that stage on that value it's not so I'm pulling out as well a good deal it's just started thinking to myself that you know how sometimes you can see what's gonna happen in other people's lives you can see from afar and you know what the feeling I had was I could just see the roots you're going down you're precious about what you've got you think everybody it feels to me like you think everybody that to take it away from you and I can see losing the whole thing somebody else is gonna come along and do it you're gonna be hanging on for the right deal the right deal and one day you'll have no deal and that's what I see happening to you especially you with 30 years of putting it into it and my advice to you would be just get real get with some decent people try and get beyond that thing of mistrusting anybody who's an investor you'd much better having a small part of something to grow old with then you are to happen a part of a great idea that could have been something very exact take a small part of it and get rich out of a small bottle I just a thought before you're just gonna invent something think you got you understand your price is totally wrong you're not gonna make six hundred million pound out of this product mm-hmm can I confer yeah yeah do you just want to invest in this company you want to run it as well I want to help you run it because the way the way you're gonna vote it I'm quite interested in that I went into Mothercare - two years ago and Mothercare said to me yes well of these off yeah I says hang on a minute I'm not a manufacturer but since two years ago I've made these other machines go out see if this to it I mean we've got all it's done now it's all ready for tooling we've got the price of the tooling I mean it's already all all the electronics are done PCB buds that are built up it's all there it's all ready to say go right yeah 10% my aweful we will do a deal with my offer was 50,000 for 5% I'm looking for other people that come in as well they've been offered 50,000 pounds from Duncan Bannatyne but Granberry still member to get another hundred thousand pounds from the other dragons to get the total they came forward they think they'd convinced Doug Richard to invest - so that's denier you want fifty thousand 50 thousand for five percent fifty No we have a third party or the other 5% we can advise you and over on it if you listen to a xanax I would have you bring their people in if I invest you I can't afford to have you run the business and it's we don't know each other at the pace we're going we may or may not ever get to know each other but what I see is a product that needs a professional management team I think that you're asking me to give you too much money for too little equity and I would insist yes I would insist that somebody that is we can both agree on because I want you to be able to work with these people but somebody both agree on comes in as the managing director and somebody comes in as a finance director and somebody comes in as the sales director so yes I have a terribly hard conditions both with my money facial pain all these people I mean I don't know what's gonna be left in pop can we have another investor interesting take 5% for 50,000 pounds so we've got our pitch and we'll have a deal I won't be investing sorry and so you know we stand I'm out I'll see you now who do you address yourself to only two of the Dragons have shown any interest and even they're wavering now Graham and Barry are struggling I'm still in I also invest fifty thousand pound for a five percent subject to you raising 150,000 point here today Graham and Barry's fate is in the hands of Doug Richard he can make or break the deal gentlemen I have a real challenge with you guys I have no disrespect for what you've accomplished at all you've accomplished a great deal so far you've got a product to prototype and to manufacturability that's it's a huge accomplishment but you know so little about the other elements of business even how you're trying to arbitrate amongst us reinforces my concern and so bottom line I'm out right that's very so well done it so it's been really nice seeing y'all really nice talking to you okay after a grueling session in the Dragons Den Granberry are forced to leave empty-handed they impress the investors with their product did not their negotiating skills acting in one big chance to get a product launched and it completely blew it and you know the sad thing is that their product will happen it just won't happen for them now look Graham you had a terrible start at the bottom of the stairs I was absolutely trying for another kind of I could have taken it I could have stormed to the Eiffel Tower whatever but no when I got up there it was a case of I just completely forgot everything I had to say I looked at the product I just I just couldn't focus on anything it was nerve-wracking but I can't say that I was nervous it was just a case of it's quite a surreal moment very high price for those shares though I mean they were they were there they were there they were gonna put money in your hands and you just without we have a product that we have a lot of belief in and know that it's gonna go somewhere it's gonna it's gonna start to sell and I think we were asking a small price for our shares to be honest with you since our wife is I'm afraid sir now the other thing that came up a hot issue these guys love the product yes they didn't quite think you were the people to really take it to market but yes no they don't now do you think they've got a point there or do you think they were being unfair good people cost a lot of money and we need some money to the table first we have a product that we know is going to hit the market tail under this year and so we have the confidence of one we have some revenue yes we do know that we need some good strong people to the team you [Applause] you

Channel: Dragons' Den

Views: 529,828

Rating: 4.7804461 out of 5

Keywords: dragons den, dragons den uk, deborah meaden, peter jones, touker suleyman, tej lalvani, business pitching, entrepreneur, shark tank, dragons, den, best, new, worst, pitches, funniest, moments, most, shocking, products, 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, Graham Whitby, Baby Dream Machine, Barry Haigh, Inventor stops managing Director Dragons Den

Id: H-2a84QGN2s

Length: 16min 3sec (963 seconds)

Published: Wed Jan 22 2020

Reddit Comments

[u/PuffTheMightyDragons]

£600,000,000 valuation on a baby rocker business.

[u/SquaredDerple]

It started off awkwardly but honestly it wasn't too cringe in the end. You want to know what is cringe? Their website.

[u/Vespasian79]

Oh gosh this is awful, I feel bad but also wow