Peter's Interrogation Proves Too Much For Distinction Student | Dragons’ Den

[Music] last into the den a 25 year old entrepreneur from Belgium can't believe I'm actually doing this I cannot believe it a businesswoman confident she has a unique solution to a problem faced by many wheelchair users I'm a bit nervous and I feel ok it's just yeah controlling the nurse keeping his end [Music] my name is Corinne Stiles founder and CEO of style design and developer of wheel air an award-winning battery-powered airflow backrest cushion we letter increases your comfort and keeps you cool combining function with style today I'm here to sell you 15% of my company in return for seventy five thousand pounds so how does it work as you can see on that wheelchair there's a unit underneath that unit basically sucks air in at the bottom pushes it up and then gently pushes out on your back radio gentle feeling of cooling we believe that wheel air we can capture forty five million pounds in the UK alone now we've had lots of interest so far and are working with some fantastic Paralympic athletes such as double Paralympian Michael Kerr who I've got with me today with your help we want to go into distributing and into manufacturing because with your help we can change every wheelchair users life thank you very much anyone like to try it out I would actually yes a slick pitch from Corinne Stiles who's looking for 75,000 pounds have a simple remote in exchange for 15% of her company making air conditioning cushions for wheelchairs it's already exactly it's worked in seconds for Deborah Medan and she's keen to get some firsthand feedback from the inventions Paralympian user michael curve Michael how long have you been using this um I've been trialing this on and off no for a few months because I click P soccer fan for some do it myself I had a spinal cord engineer back in 2000 and resulting in paralysis from the chest down so when I get too hot I just keep getting hot and hot because I don't have the ability to swear anymore so having something like this obviously helps me regularly my body temperature thank you thank you a winning endorsement from a Paralympic athlete is not a bad start to kourin's pitch and now to Coe Suleiman's wondering what's driving her ambition so what gave you the inspiration so was a woman at university who's a wheelchair user and she said you know a lot of people have overheating issues maybe you can make a cooling clothing line I said well I'll draw the clothing line but I can solve the issue and what about yourself what's your background so I studied in Amsterdam so I did a bachelor's in international fashion management there for four years and then I came to Glasgow to do my master's in international business and entrepreneurship whoa all with the station perhaps I'm getting a job a grade A student putting her skills to good use Corinne is getting top marks from touka Suleiman but Deborah Medan wants a progress report on the business just so I understand where you are at the moment are you actually in production and no currently we have four prototypes at work and we currently don't have the funding to go into manufacturing so that's why we're here today and made in the UK at the moment so the form is made in Italy and the cover is made in Tunisia so Andres is made in in Glasgow and will be in UK and do you know about how much it's going to cost to make yes it cost 127 pounds I'm just waiting some time to make so what do you think you're going to be selling it out yeah it's retailing at 535 think that's quite expensive it's a very very cleverly designed simple product yeah and the raw materials are not that expensive if you really wanted to do volume on it and I know a little bit about textiles you could probably bring that down dramatically the king of outsourcing touka Suleiman spots the potential to lower Correns production costs Jenny Campbell's more interested in how much the product will set the consumer back how did you come to a price point of 575 if I price it too low you don't get the credibility if it's too high no one will buy it but with five hundred and seventy five it covers our overheads really well I think you've got a great product and it solves a very important purpose I think it's just the cost five and seventy five pounds is a lot and I think you could end up struggling to convince people but if you want to get a bigger market you want something that's more affordable tej Levani thinks the product price tag could limit its mass market appeal which has left Peter Jones wondering how kourin's future sales are likely to stack up what's your forecast your three or four cast three year forecast total is as always call with calculating in Dutch so it'll be about two and a half million I guess turned over and how many products would that be and that is I've got it all written down exactly but it'll be would you like to see the sheet that has older no no what I just want you to tell me okay I think we're selling about a thousand products by your sleep a thousand different a thousand total of these products know they'll be do you mean combined so what are the products you're pitching this today but there's other products you haven't created yet we're actually applying for a crown now to develop a more technically advanced version of this that's heating and cooling but instead of applying for grants why don't you try and create a business make some money and reinvest the money I do the public I do the whole thing about entrepreneurship is that you trying to create your business and be self sustainable and build a business and utilize those retain profits win their grant we can hire people so it's basically just a lot more people if you start making money in your business yeah and we will how many of these will you sell in three years so at least what 200 the first year it's like 450 in the second year so I thought like say 800 800 and what would be the revenue if you sell eight hundred and eight hundred for and and what will be your gross margin and gross margin of that I don't know of my heart I think 300 no sorry what's happened here I don't know I have my numbers but I just I knew I have a turnover for five years per month and I knew exactly which how much I sell Karina and distinction student yes so Kareem what's going on now is this pressure you're feeling pressure yes it's doing all the number it's just like out of my head okay we're at 300 K and now valuation where do you come to evaluation of half a million where you sit today with a product that's not yet launched I am so sorry but I am gonna pass out I don't know what I'm seeing only black with some water down hey Otto sit down here sit down here oh I'm sorry that's why it's right to make a bit despoiling like that don't worry even I'm really not feeling wrong it's just my sugar sometimes drops that's okay I've got the cooling kishan huh [Music] the pressure of the den has proved too much for Corrine everything goes cause black forced to abandon her pitch midway she's taken out to recover the interrogation by the Dragons has left holes in her financial forecast but feeling better Kareem decides to return to the den how you feeling Fisher you feel better I'm so sorry that's all right it's straight back to business for Jenny Campbell who's quick to turn up the heat Corrine let me tell you where I am there's a lot of things I don't like you clearly come under pressure under your numbers despite you being a distinction student you haven't shown the business acumen that comes with this not to me the thing I take most issue with is an 85 percent margin for a product where you'd you're trying to help people I take issue with it and I don't have confidence in you becoming a businesswoman and this being scalable and for that reason Corrine I am out thank you [Music] affronted by careens markup and lacking confidence in her business skills Jenny Campbell becomes the first dragon out can health tycoon Taz Levani revived this rapidly deflating pitch I think there's a there's quite a bit of risk however I think that if its unique product with the right support and the right backing it could do okay so none of you half the money for [Music] 20% of the company pays LaVon he comes to the rescue breathing new life into the entrepreneurs pitch but he's only willing to put up half of the 75,000 pounds and that's for a whopping 20% of the company a double deal with textile tycoon Tuco Suleiman could be right up Carine Street but can he come up with a two-for-one offer I'll tell where I stand I don't think you can work on such huge margins if you could bring the cost of that unit down to 40 pounds then you could retail that for $1.99 how does that sound to you okay ideal if we can get the cost price down that law but if just not okay the men yourselves there are a lot of question marks I'm the dragon for you I think you know that hmm and I'll share the risk with page so I'll give you the other half of the money for 20% quite a turn around the whole 75,000 pounds split between two dragons with connections in global health and textile businesses Peter Jones has held back since Kareem almost fainted during his financial cross-examination as he reached a verdict what I feel is that there is a real huge opportunity actually for your product to enter the market and you can see how it's potentially life-changing I'm going to make you an offer but mine is conditional upon the fact that if Deborah is interested that I would share with Deborah I'm going to offer you half of the money for just 15% [Music] so Kareem I don't know if you know a very close member of my family is in a wheelchair as a result of my sister's problems I've actually been involved with the project designing a wheelchair okay I would have made you an offer in any event but Peter and I work very well together we've worked on many other projects and I know we can both add value so I'm gonna make you an offer and it will be for half of the money it'll be for 15% and it will be to match Peter's offer okay it's a massive turnaround as a Meade and Jones partnership undercuts Hayes Levani and Tuco Suleiman's joint offer by 10 percent and it's not over yet I would just say that I would change my offer to 15% to match Deborah and Peters if Paige agrees I don't think there's anyone here there's more passionate about health that is my business that's what we do we help improve people's lives so I'm willing to drop my percentage from 20 to 15% yeah too much to kiss what we'll do if we get our money back I drop it to 10 you've gone 30 25 sitting there pull that leg hasn't said anything well no it just shows that posture we are about what she's gonna have it for dragons have set out their offers and careens firmly in the driving seat Peter never are you willing to match what they said to giving me back percentage if you make back the money I'm happy to drop on the repayment down to 10% very happy to I think we want to go with that breath appear oh sorry good very pleased Cory we're happy to get you a better deal for the dragons anyway so I know Corrine exits the den but this time feeling triumphant were the pledge of 75,000 pounds and two seasoned dragons I wanted that come believe how much I turn around you know it's like you're trying to break you just to see and then in the end they're like oh you're fantastic you

Channel: Dragons' Den

Views: 1,320,406

Keywords: dragon's den, dragon's den uk, evan davis, deborah meaden, peter jones, touker suleyman, tej lalvani, business pitching, entrepreneur, game show, reality tv, shark tank, Corien Staels, Paralympian, Michael Kerr, WheelAir, gadgets for wheelchairs, wheelchair, wheelchair defense, wheelchair basketball ankle breaker, dragons den, dragons den worst pitches, dragons den pyramid scheme, dragons den water bottle, pass out, peter jones interrogation, fainting dragons den, 2020 new

Id: joZ1qoHnvfk

Length: 15min 40sec (940 seconds)

Published: Mon Apr 06 2020