Peter's Sick To His Stomach With Free Samples | Dragons' Den

next into the den is Cecily Mills from corner she's hoping to find a way to the Dragons hearts via their stomachs oh my god I'm so passionate about this business it's like I love it I live and breathe it and this entrepreneur is certainly following her dreams with her frozen products it's crazy I get to eat ice cream every day like I get to talk about ice cream every day I get to take pictures for social media of ice cream every day like what's not to love [Music] hi dragons my name is s Lee I'm the founder and chief coconut at coconuts naturally organic dairy free ice cream I'm here today to pitch for seventy five thousand pounds in return for a twenty percent stake in the company the UK ice cream market is worth one point 1 billion pounds and it's set to grow to 1.25 billion by 2020 and this is at a time when around twenty five percent of the population are looking to reduce their intake of dairy coconuts naturally is the UK's only organic non-dairy coconut based ice cream made without nuts or soya our taste and texture will stand up against any of its dairy counterparts and our five great tastes towards a testament to this I started the business in 2015 from my kitchen table today we're available across the UK via Ricardo and in independent stores for our network of four distributors we also sell in Asda and Morrison's stores in the southwest and we export to Dubai we're at a really exciting point of our growth and I'd love you to join us on this journey thank you for listening and before I take questions I'd love you to try some ice cream go yes please [Music] you offering dairy-free organic ice cream made from coconuts soft yes it should be cecily Mills is looking for 75,000 pounds for a 20% stake in her business she'd be want to pull up a chair and sit down yeah cuz it might take me a little while to work my way through all of these flavors first up Jenny Campbell who wants to know where the entrepreneurs passion for her product comes from Cecily tell me a bit about your journey that brought you to be queen of ice creams today I like that title in 2014 I decided I was commuting into London from south coast where I lived and I just decided that wasn't something I wanted to do for my whole life I'd changed my diet to a plant-based diet and all of these factors aligned I wanted to get out of London I wanted to get out the commuter life I started making the chocolate flavor actually for myself I was like I miss ice cream started developing it at home I thought you know what there's something here and everything aligns and I thought you know what if I don't do it now I'm never gonna do it hello Cecily can you tell me what size of the business at the moment what's your current turnover yeah sure um this year just gone we've turned over 87,000 with a gross profit of 26 and a net loss of 33 and then this year 2018 we're forecasting three hundred and thirty thousand with a gross profit of one hundred and fourteen and a small net profit of 42 what's happened that's giving you the confidence to go over the three thirty this year I mentioned in my pitch we export to Dubai already and exports a big part of what we want to do we've just literally last week finished product registration in Hong Kong and also we're just starting product registration in Australia so your growth isn't really coming from growth in sales within the UK it's relying on some lumpy orders from overseas or one of the big chains yeah Cecily that is not yeah wouldn't I mean you know you're just putting a finger in the end saying well I think I'm gonna get international orders and you really haven't service much apart from Dubai everyone got ships no we haven't got none of it none of it so you're gonna do four five times based on international disease I appreciate that little disingenuous a forecast based on unfulfilled orders for Cecily on thin ice with health magnate tej Levani Jenny Campbell wants to know more about Cecily's capacity to grow you're doing very well already so what is the key to this growth and what's the role of a dragon in that then I just think that a dragon can just add so much value to the business I just don't have all the answers and I really want someone who's got experience in growing businesses to these numbers to just to just help me it can be a lonely place being the boss you feel a bit of an island sometimes you own all the fares no I don't own all the shares me and my husband doing 30 percent knows one friends-and-family shareholder also owns 30% of the business then we've got two other friends who own 15% of the business each and then two more who own 5% each so you've given quite a lot of your equity away yeah we've got a share agreement which gives me the buyback of their shares at par so I get back majority then so you can buy them back at the price that they bought in out yeah if I if I'm in a position to and if I want to yeah what's your endgame here it looks like a family business do you really want the dragon to be all over you and the figures and the numbers look I've got massive ambitions for this like I want to grow to a million pound plus company in five years and I kind of want the help from a dragon to do that I don't want it's a family company look III I need to think about it okay [Music] as touka Suleiman puts any potential offer on ice next up is Peter Jones I'm submitting why will a previous investment in a free from dairy company tempt him into a deal with this one I feel a bit sick Oh God and it's because I've just eaten nearly every single one of those eyes this is exceptional it's the best ice cream I've tasted thank you so much that's free from really amazing but this is not a market that I want to get back into because I realize how tough it is to actually make a serious return it's not something I'm sadly cannot make an offer on so I'm gonna say that I'm out but I wish you the very best thank you you still in Deborah I am I will let you know I am you probably know that I'm invested in an ice cream I do yeah you do yeah because we're already developing a non-dairy I feel really really conflicted anat thank you with both Peter Jones and Deborah Meade and pulling out because of previous investments it looks like the ice cream Queens dream may be beginning to melt I'll see where I stand great product you're great and I think it determines if you'll get there what troubles me really is a shareholder it's a family business yep I feel that I have to pass this one and I'm out Cecily you only own 30% of the business why would those investors wanna sell at the same price it's almost like an interest-free loan because that's what we agreed at the beginning and that's what's in our shareholders agreement I can buy back to 51% I do love the product it's a great product and I think a lot can be done to grow it and a lot of value can be added from my side [Music] so I will make an offer but I think you left to try and buy out the other partners as soon as possible borrowed entire UT ok so I will offer you all the money but I want 40% a surprise offer from tej Levani with a strict caveat on share ownership he's offered the full amount but for a whopping 40% stake twice what Cecily wanted to give away only Jenny Campbell is left in the running this ticks a lot of boxes for me I've just hesitating a little because I don't like this share structure and if we're honest you know you haven't made any money yet which is why getting asked for a higher equity but then to me that gives you a shareholding an even bigger issue of course [Music] would the other shareholders be prepared to dilute yeah okay so look on the basis that I'm gonna get an ice cream subscription for your rest of my life fully paid for of course I will make you an offer I will give you the 75,000 pounds I do want more than 20 percents but I'm not a greedy dragon I'm a fair dragon so I will offer you all the money for 30% Jenny Campbell swoops in with a lower offer in an attempt to freeze taser al Varney out of the deal and I just can't think about it please go ahead Cecily has a conundrum to consider [Music] can I just ask a question first of all if this is something that a Shinjo if you would you would be prepared to share probably not for me because it's an area that I don't particularly need another partner on this one yes and my answer just so you know would be the same I think we both know exactly what we need to do here and how to do it okay and tears your offer for 40% would you be willing to come down to 30% I just feel that the value I can add is a lot more than the extra 10% so that's the best I can do 40% okay okay I'm so grateful for both of your offers say thank you [Music] Jenny I'd love to accept your offer thank you ice cream yes thank you so much wha thanks for done bye I'm gonna get a free subscription as well to me Jenny tell you right now a sweet deal Cecily 'he's done it super delighted with that she's a fantastic entrepreneur I got to offer so I'm super happy about that I really wonder if she's got the right Dragon you know do you wellthey I'll show you I feel really excited to devout the next steps now it's like super excited you you

Channel: Dragons' Den

Views: 1,111,318

Rating: 4.7660842 out of 5

Keywords: bbc iplayer, united kingdom, british tv, british tv shows, watch uk tv online, watch british tv online, dragons, den, best, new, series, worst, pitches, funniest, moments, most, shocking, ideas, 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, sara davies, tej lalvani, touker suleyman

Id: py-xfiDE4_g

Length: 14min 8sec (848 seconds)

Published: Fri Nov 29 2019