Partnership on the rocks after "shambles" pitch is torn apart by Dragons | Dragons' Den

hello dragons on down mark quick managing director of partial box is installed I'm Liam stamp I'm operations manager I'm Brian Wilcox and I'm the inventor of these parcel boxes we are here today seeking 40,000 pounds for a 15% equity share in our startup company have you ever come home to find a parcel on your doorstep if it hasn't already been stolen listen everyone know you're not at home or you've had a pass will deliver to one of your neighbors you need to go and retrieve it wasting your valuable time we have a pencil protected anti first partial delivery box which is courier agnostic and accepts multiple deliveries if I can give you a quick demonstration so any courier can turn the handle open the draw place the parsley inside close the drawer leave it to the secure come compartment and then weave your key you can retrieve it when you come home with the parcel box we genuinely believe we've created the future of mail insuring our customers residential and commercial never miss a parcel again we'd like you to take a closer look at our products and we invite any questions many thanks look hoping for investment in their company that produces secure mail boxes the packages a darin mark quick Liam stamp and brown Wilcox so file comer yeah it's in the house that's it it should drop in automatic yes and it's consumed so no one knows the pulse is in there they want 40,000 pounds in return for a 15% stake in their business this is a free-standing unit yes this one's standalone this is built-in and this one's for apartments but Peter Jones thinks it's all looking a little familiar I've got something similar at my house actually that takes parcels and it's got a keylock and it was built into the brick mm-hmm but my personal view is that this is already a very limited market in terms of its size and the potential because typical home has just got enough space to have a letterbox it's not gonna go and have a filing cabinet near its outdoor area is it it's pretty much for people that are lucky enough to have either brick walls or nice big houses isn't it well yeah when you put out the front garden but most hazards ever front garden you look like somebody's left the filing cabinet outside but that's what people are doing things really we're thinking about getting on vinyl wrapped Peter so it could blend in with the atmosphere a vinyl wrap mmm people to have that in the garden yeah it would look like a filing cabinet in your garden though wouldn't it but it's convenient and maybe now it may look like that baby won't be long before they blend in at the moment you have two bins and a recycling bin in your front garden doesn't look aesthetically pretty but does job yeah it's just that the possibility of having this in most homes it's not currently feasible Peter Jones is far from convinced of the aesthetic draw of these particular parcel boxes next up taze Levani who wants to unwrap the company's share structure so shall we start by figuring out how much you guys each under the business so I'm 79 percent shareholder I've 1% I know I have 20% right so just in terms of pricing how much is that one which is installing the bricks at the moment one nine nine so how much that cost you cost of us is 70 USD 70 is about 55 pounds you said you're a startup yeah but you have some sales presumably so what have you done so we've actually set him for about ten months of which our turnover is 21 K and in that time we've supplied 68 boxes and we've provided 37 installations of the box can I just say something slightly so what - no we've been two separate companies Darren's company has sold 68 units but my company sold about 500 in UK and Europe and another 500 in Japan and then we're merging the companies together right so what sort of business is your company doing at the moment my companies mean more in the inventive side a bit and then down and limit I've been the sales people right so the investment today would be in the combined company yes and the IP will be held in that context that's correct so what else - how much have you sold you only said 68 one so in our UK based operations under parcel boxes installed we have some 68 however because obviously we've only been actually selling them for 10 months Brian was the inventor who obviously preceded that and his figures go back a bit further with two sets of figures to marry up Taser Varney is having to work hard to get a clear picture of the sales now it's touka Suleiman's turn to attempt to get a better understanding of the combined businesses you've come in wanting 40 grand it's a total startup which I can understand but you've made the thing very complicated based on our projections so okay projections this is I yeah sure anyone so and we project the turnover of 63k 63k yeah turnover yeah this is purely passive walks figures by the way bronze figures are separate that's all that going for as a the new collective business yeah you've just sold me sixty three grand yeah yeah seconds Brys that clues your yeah that's just that's just after this bronze guys you've come in with three of you you should have said we're gonna go in there's one and I've just asked for some figures for the next twelve months and I'm assuming that the partnership or the amalgamations happens it hasn't yet no oh it hasn't hasn't happened that the merger hasn't happened okay so year two which is the magic year yeah so give me the magic figure a head turnover 393 383 this is not taking into account Brian's figures but you come in here or juice bets to say includes two businesses in one so okay what were the combined figures be like for the last year it was it 150,000 pounds right and over okay so if I double it for next year we'll be 300,000 sir I'm sorry I am having I've got to stop this is a shambles are you seriously expecting us to sit here and add all of your numbers together so we can work out for you whether or not you've got a business that might possibly work joint I have never seen a presentation like this in the dent have you actually spoken to each other before you walk through those doors we did yes did you think about making a presentation that actually presented the business that we were going to invest in instead of expecting me to sit here and sew right what's your bit of the business which year what's the bit that you're talking it's add that together and let's see what's going forward yeah now respect up oh well I'm no I'm not asking you to respect it because I've got to tell you this is shambolic I'm sorry about that but we are the moment we're two separate companies and but you're not asking me to invest in two separate companies you can't stand in here and say we're combining the business but actually we're going to give you the two separate numbers you're confused I mean you're completely Capital I haven't got any questions for you whatsoever I could not possibly invest and spend my time trying to work out the confusion that you yourselves haven't bothered working at the other side of those lift doors I won't be investing I'm out [Music] Debra Medan is unequivocal in her disdain of the entrepreneurs pitch and perhaps not surprisingly becomes the first dragon out will Peter Jones be any more forgiving well that's put a very interesting atmosphere in the death and I actually couldn't agree more it's embarrassing isn't it we we've been a bit naive this is an embarrassing moment for you it's quickly add the numbers up Shirley I think it's best that we just leave it there I'm out a bit I don't understand in putting two businesses together is how you then ended up with 79 percent to you down and 20 percent to you Brian a brand you've got the track record of a business that has sold yeah five hundred units in Europe five hundred units in Japan or something yes and you guys are just resellers but you end up with 20% of business and you Darren that was 79 it doesn't make sense it would be in an equal amount between us you just said it was 79 20 m1 that's what it is at a moment to be honest I think the proposition is a disaster let alone the investment that you've tried to present I could actually a trillion questions but it'll all lead to the same thing which means I'm out thank you confusion reigns in the den as Jenny Campbell's probing reveals discrepancies over the company share structure with three dragons now out of the picture has taste Levani got any chance of getting this pitch out of the doldrums how can you not have this organized this doesn't make sense you guys haven't got proper business you know what a shareholdings are you know what the sales are and I can't be part of something like this so I'm gonna say hell out how do you feel Gossett's November look guys I'm gonna be very straight with you there is a problem unfortunately you're not gonna show it out for that reason I'm not gonna invest and I'm out thank you thank you very much thank you they started so optimistically but the fault lines in their pitch soon began to appear I'm absolutely speechless he's shocking gonna be doing a sort of actually dancin here and it's created a seismic split in their new partnership as Deborah said it's a shambles and you know I can't disagree with them based on what I've just experienced I won't be merging with these two guys they're messed up me and four eyes walking I'm yeah

Channel: BBC

Views: 3,276,159

Keywords: BBC iPlayer, Dragons, den, best, bits, 2018, new, series, worst, pitches, funniest, moments, most, shocking, ideas, products, businesses, peter jones, deborah meaden, dragons den worst pitches, dragons den funny, dragons den 2018, dragons den season 16

Id: oq7Sx4VOJa0

Length: 10min 54sec (654 seconds)

Published: Wed Jan 09 2019