Peter Slams Entrepreneur's Originality "You Think We're Idiots, or What?!" | Dragons' Den

next in the den his 32 year old anglo-dutch entrepreneur Andrew Everson a professional hockey player in Holland he's hoping he'll be victorious in the den today [Music] I've made in Dutch Premier League for over ten seasons so I feel my time has come to swap the hockey stick in for for my business and my career its water partner isn't tap water usually free well it's gonna have to whet our appetite [Music] hello dragons my name is Andrew Everson and I'm managing director of join the pipe UK I'm here today asking for a hundred thousand pound investment in return for a five percent stake in the business join the pipe unfortunately plastic waste from single-use plastic bottles has become a worldwide problem in Britain alone we are using over 35 million of these bottles every day I'd join the pipe we encourage people to drink tap water using reusable water bottles and filling these from easy to use sustainable drinking water fountains our company is currently based in Amsterdam the Netherlands where where we have installed over 2,000 of these water fountains and sold close to 2 million of our water bottles I feel the time is right now to come to the UK where calls are being made to cut down on single-use plastic and to install water fountains that are accessible for everyday use now I'd like to hand one of our bottles to you to try out and to fill it from one of our sustainable water fountains thank you [Music] Andrew Everson wants 100,000 pounds for 5% of his company as a plastic it's bpa-free plastic that installs tap water fountains in both public and private spaces would you like to try one of our water fountains and sells reusable water bottles you can if you want I kind of get how it works but will the Dragons see his idea as a liquid asset so it's still water and carbonated is it filtered there's a filter system in the indoor water fountain this is just tap water from the mains tase Levani is first to see if there are any leaks in Andrews business plan hi Andrew hi quite interesting business you've got here yeah so in Netherlands the government doesn't provide this facility at all water companies in Holland are actually one of our biggest clients they will buy one of our water fountains and they will install it for the general public parks shopping centres so how many have been installed so far so we have of these of the three see here we have installed 2,000 in the Netherlands so with the evaluation of 2 million pounds yep I presume we've got quite a lot of sales for these bottles you've done 2,000 of that so what's your sales turnover last year so last year in in Holland she I'm bringing over to the UK and I was around 1.6 million euros the business has been running for about five years in the in Holland I've been with the company for about three and a half ok so you didn't found the company I didn't found it that I'm a hundred percent owner of join the pipe UK ah so wait a minute who owns the the actual original IP for the original license is owned by the founder I have a license agreement with him to be the exclusive join the pipe UK seller and also other countries if necessary well that changes the dynamic significantly and for a dragon in terms of investment so is there any opportunity to own equity in the parent company for the parent company at the moment no Patrick yes all right what are your rights to the rest of the world so I have the right to first refusal have you got some contractual rights to the rest of the world I like a two-year period or something or is it just a case of your Dutch founder could come to you and say Andrew got an interesting client in the US yeah are you ready to go there or not you say Oh crikey I'm busy in the UK I'm not ready yet give me time and he says no I'm sorry I'm ready to grow in the US well I would she'll have the first right to refusal but only if you moved faster than if he'd found someone already you haven't got a two-year window or something it's something we could we would negotiate okay you haven't got a two-year window I haven't fought for the rest of the world no this isn't new I've had this in my business with water dispensers for over ten years you've redesigned outdoor drinking pipes I think it's not always easy to leave the house with a bottle answer okay let's focus don't go away from where I'm focusing you're just a product supplier you're a fountain supplier to local councils then well we've proven to be a very good supplier saying you're a bad one I'm just saying that's what you are and these bottles are complete red herring this is just a way of getting and finding ways to get additional income you can buy this in every in any store agreed but we want to offer the public a opportunity to not having to go into a store and buy a single-use bottle I want to bring the whole concept to the occasion it's not a concept because this concept does exist a bitter blow for Andrew as Pizza Jones dishes out a damning verdict on the originality of this aquatic idea and it seems to KO Suleiman was expecting much more from Andrews offering when I saw this yep I honestly thought that you had transformed water in some sort of filter system yeah to make it really really healthy for people yeah and I thought yeah I can see why that's worth two million pounds now that you're explaining I'm wondering whether you think we're idiots or what now how on earth did you get a valuation of two million pounds so I'm planning to turn over 2 million in the first year 2 million in the first year that is that is 250 water fountains and 400,000 water bottles do you have any documentation that would tell us that you've got orders for it to produce it you've got something yeah that's going to convince me that you'll do 200,000 sooner but not 2 million I've had a lot of interest from Holland flown over to the UK a lot for meetings with the companies who are very interested is that a no we've we've had orders from schools for our water bottles and and water fountains just recently yes what's the value of your physical orders today as of today so that would be between 10 and 20 thousand ten and twenty thousand pounds well then how on earth can you ban it for two million because I feel we will with the need and with the the ask for water fountains at this moment in the UK I feel that we can place 250 water fountains over here and 400,000 water bottles what stops me from getting my design team to design a fountain like that well we have a patent on the design I know I can change I can make it square yeah I can make I can make into a monkey I can make it into an elephant what stops me from designing something similar we feel that what stops me quick answer yeah nothing good you've answered it what stops me from importing these from wherever to sell for $2.99 nothing right I'm gonna tell you where I stand it's not for me and I'm out okay [Music] with one dragon down andrew will need to work hard to stop his watery wish running away from him especially as Tesla Varney revisits that big issue of product ownership the problem you have here is you've got a company in Holland yeah who's done quite well they've taken five years to make sales of well proximately 1.3 five million pounds yeah and you're coming here into the UK like the business is turning over that money but it's not turning over zero so you can't value a business for two million pounds especially when you don't have the IP for it it doesn't make sense for that reason I'm going to say I'm not going to join you on this I'm out Andrew you're very chilled bit like your water yeah considering you're under some intense questioning here about what is this all about you're asking us to make the leap that you can do two million in one year in the UK products not great designs not great I thought it was where you plugged your electric car in true so I'm sorry my well has run dry and I have to say I'm out Andrew yep I so want to like it because it's just doing lovely stuff but actually I think you're just too late and your valuation you've got to own this market yeah you've got to sell a lot of bottles yeah 400,000 plastic bottles in a really crowded marketplace I cut you know you must know how many lovely bottles they're out there yeah of course I know how many bottles there are I feel that our bottle does differentiate to other bottle is why there's the design obviously it can be used for tourists because this is the city bottle we've had a bottle made with with the London logo on it well that's a gift market I mean they're not being funny but that's prettier but that's just one marking we can we can yeah we can target you know if you come in for less money and not being a bit crazy on your valuations would that be something we could work towards well in terms of the valuation well actually no it's what I think the business would be worth would be worth not today that was a mistake okay I hope you get as many out there as possible yeah I think you'll make some money out of it but it just is not an investment for me good luck but I'm out with Deborah Medan pulling the plug on any potential investment by her it leaves just Peter Jones to keep Andrews hopes alive you should have pitched it very differently okay your pitch should have been I want a hundred thousand pounds for a hundred percent of my company and I'd like to have the opportunity to prove the concept and if I can prove the concept and achieve these targets I would like to request say 20% of the company back okay that would have been fairly unique in the den you might have got interest on the basis that you didn't do that I can't invest and that's why I'm out Thank You Mako much so andrew heads across the expanse of water that is the North Sea back to Holland empty-handed even though five well-known investors have said no that doesn't stop me from bringing the product over and hopefully this time next year I will be a millionaire you

Channel: Dragons' Den

Views: 2,447,999

Rating: 4.831171 out of 5

Keywords: join the pipe, public water tap, sustainability, drinking water, kraanwater, african schools, british tv, british tv shows, watch uk tv online, watch british tv shows online, watch british tv online, dragons, pitches, funniest, products, businesses, peter jones, deborah meaden, dragons den worst pitches, dragons den funny, dragons den series 17, dragons den 2019, shark tank, shark tank 2019, new dragons den, new shark tank, tej lalvani, Amsterdam Bottle, Amsterdam Water Supplier

Id: -6LV9xnRhzo

Length: 13min 11sec (791 seconds)

Published: Fri Oct 18 2019