The Dragons Think It Will Be Easy To Replicate Smart Snouts Business Model | Dragons' Den

next into the den are Bradley Watson and James khah accompanied by osar the pair believe they've devised a high-tech solution to every dog owner's worst nightmare so when Brad come to me with the idea um it just seems like a genius idea I spoke to the wife she agreed and here we are spout to the boss Bradley and James may already have one convert but they're hoping for several more each Dragon brings something different to the table to be brutally honest I would like all four to come on board is there five and there are four today I was going to say five yeah will the duo demonstrate a firmer grasp of numbers in the den my name is Bradley Watson and I am the idea behind smarts Sout limited this is my partner I'm hi I'm James khah and this is Oscar who's here to help us so I don't know if anybody's aware at the moment that dog ffts are Rife at the moment and I can't say too much about the microchip um but we believe and a lot of customers believe now that the microchip has its floors and uh the one main floor is it can be removed very easily and replace it with a new chip and a new identity that is happening a lot at the moment so what I come up with was a scanning device an application for your mobile phone that scans and Records the dog's unique fingerprint on the end of their nose it's exactly the same as a human fingerprint if you don't mind we'd like to give you a live demonstration of how the app works okay Y goodby come on good boy there we go there's the smart SN app so this is my profile this is my dog jurry K Coro female date of birth very basic simple details and it's the snout picture at the bottom that is like I say unique to every single dog it can never be tampered with or changed and I can change my dog status to missing so if I was to find James's dog what I'd have to do now is just walk up to Oscar one two just back out go to scan snout and hopefully congratulations you have found a dog okay but I can now send a message to James I think I have your dog so that is the end of the demonstration dragons um I hope you was impressed we are looking for a £50,000 investment for 10% of the company and um that's it thank you very much an app that combats K9 theft by using nose scanning Tech to allow people to identify dogs they suspect are lost or stolen is the brainchild of Bradley Watson and James khah and we could say goodbye to Oscar now see you Oscar hi Oscar thank you by Oscar he's done he's done well the pair are seeking £50,000 in exchange for a 10% share of their business if you press the button yeah or the dog can Oscar may be leaving the den distinctive snout and all but tuliman remains and his ability to sniff out a money-making opportunity means he's going to lead off the questions Bradley and James right yes there is a problem is this the one thing that's going to solve it let's find out so I've got a dog and she goes missing yeah I can only rely on the people that have download your app correct exactly so in other words you got to spend a lot of money recruiting people so how are you going to recruit them so so far we've just been doing Facebook advertising and also Instagram adverts y so we've spent I think it's about 7 to 8,000 on the advertising of that side so how many people have you signed up so so far we've got 4,000 that downloaded the app 22,000 to subscribed to the app then at the start we we did it as a a payment side so we're charging people at the start5 for a year so we had 600 people actually paid to subscribe that's 3,000 yeah there's a kind of like really chicken and egg issue here right where you basically need hundreds of thousands of people to not just have the app but to be active which means to like keep it on their phone and also potentially be continually coming back to there for some reason cuz the first thing is I don't believe that people are out there looking for other people's dogs unless they see a friend post on Facebook just keep your eye out or something so there's this really hard sort of chicken and egg Network effects issue where you have to keep people on the app looking and you have to keep people uploading are your users coming back every week to the app um I don't know about logging back into the app unless they're obviously updating the picture and how often are they updating the picture of their dog technically you only need you know do it once a year you don't need to keep updating your picture so I do it once and I never come back yeah social media Mogul Steven Bartlett is skeptical about whether Bradley and James's app can attract and retain sufficient users to effectively do its job and now Peter Jo wants to find out more about the pairs plans to monetize their technology I think it seems quite good I didn't know a dog's fingerprint was its nose but that's an education so for it to make money you said that you've charged 600 people5 per year yeah we've we've changed that what we've what we've done now is we've made the application free uh we was charging originally the $4.99 per year and that was working really well when we had the advertising the cuz we were in the the newspapers every newspaper and uh when that went out we had we were having thousands of downloads a day and then another article would go out and it would catch their eye and the downloads would shoot up again um but what we want to add is we want to keep it free permanently the photo system will always be free and then we were going to add artificial intelligence as a paid package what do you mean by artificial intelligence basically the app company basically said we need to get a massive um portfolio of dogs so they can test the noses to make the AI work so that's why we're gone free at the moment when you use the word AI do you know what you're talking about the app companies obviously deal with that side but I find it difficult when you're selling us a word that you don't know the meaning of basically the AI Works they just take several pictures around the face and it obviously stores it onto the app and if someone takes a picture of a dog it'll link that up this one's only the Biometrics of the nose that's just a nose this will take the whole face of the dog so you're going to charge extra people for that and make that would be like a premium package and upgraded Bradley and James believe that K9 facial recognition software could unlock a potentially lucrative source of Revenue but the pair's earlier claims regarding uptake have made Sara Davies prick up her ears I think I might be the only one here who's not a dog owner but I still can understand and appreciate the need for the product here I want to dig a little bit deeper into your marketing so you said something about being in a lot of having a lot of newspaper and press coverage yeah so we went on online Express Online mail Virgin Radio and you said you got like thousands of downloads every time one of the newspapers came we do have a graph somewhere every time B every time once that news article hit we had a th000 downloads in one day right but you said you've only had 4,000 downloads all together yeah yeah so I just I remember I'd written down 4,000 downloads it literally went a th000 in one day and then down to like 40 30 20 the next day cuz I heard you're getting really carried away saying oh we have thousands of download every time we got a SP we got thousands more all those only had 4,000 the thing I was trying to cut through is your passion and enthusiasm for the product is fantastic it's F we've got to be really careful you don't let it run away with itself CU there's a really fine line between that passion and then just giving us a lot of BS and we can sniff out the BS a mile off so I'm trying to make sure that we get the facts so that I'm understanding exactly a dog's nose may be sensitive but it appears that a dragon's nose is equally well attuned to certain oders at least has Cavapoo owner tuliman heard anything to convince him this could be 50 Grand well spent when my my dog ran away you know within 10 15 minutes Panic first thing you want to do where is my dog yeah that's why I think what you've got here solves part of the problem and I think as an owner when you panic and you've lost a dog you want to be able to go on your phone and say where's my dog and and I think if you come into the den and say look we've got a tracking system and you can see whatever your dog is but they exist I mean there's loads of got them on our dog and I agree with you that's what I'm saying here is the fact that I think you've only solved part of the problem and and I think by having part of the problem you're not going to get a lot of people downloading I think you've come here for 50,000 um for an idea and I'm not saying it's a bad idea but it's only a fraction of the idea so for that reason I wish you all the best for out disappointment for Bradley and James as the first dragon slips the leash is Peter Jones any more prepared to plow pounds and Pence into an app for perin pooches you've come up with a really good idea there's no doubt about it and you're clearly passionate about it but this is not an investment guys sadly this isn't something that I could invest in and take you on that Journey okay so sadly I can't invest today and I say I'm out appreciate but well done for coming up with a great idea than very much yeah appreciate it guys I'm going to reiterate what Peter says you know great idea and we all know we've all been there haven't we where where's my dog that's awful awful sinking feeling and you would do anything to find out um the trouble is you're you're quite copyable I'd love to say more helpful words than that but that is a genuine and true risk so unfortunately whilst my heart would say you've done a lovely thing you know my head says I think there's big risks in that investment so I'm really sorry guys no worries I'm out fair enough right so from my point of view I think the idea behind the product is brilliant the bit I'm struggling with is the commercial proposition okay and I don't mean to be the hard nosed business lady person but as an investment opportunity I've looked at this and thought I can't really see where I can get a return as an investor so it's not a one for me to do I won't be investing in out praise are plenty for the concept but concerns over its money-making potential lead three more dragons to decline the deal Bradley and james' hopes of securing the cash and credibility their company is crying out for Now lies solely with Steven bartett it is really cool and I can see where the idea came from you see idea sometimes where it's built on this kind of foundation of things that make perfect sense so your like stack was what's the unique part of a dog that nobody can remove in the same way of a fingerprint you said snout so you said what if we create a database of snouts that also sounds like it makes perfect sense but then the third piece is when you go let's make it an application which means that you then come into this issue of network effects where you need a big what I'll call a search party of potentially millions of people who are constantly looking at the app and there's no in psychological incentive for someone to do that and on the other hand you need to get millions of people to come on there and upload photos of their dog I think that's where it's lost here it's cuz you're never going to get millions of people to download this app and stay on it every time they get a new phone to redownload it it's not going to happen so for the reasons I've said I'm out um but I wish you the very best thanks very good luck thank you thank you good luck cheers byebye done thank you sadly for Bradley and James they must leave the den empty-handed disappointing didn't um didn't get the money un wasn't successful but the digital doggy detectors are adamant that on this occasion the dragons are barking up the wrong tree yeah I think it's wrong decision that's my personal opinion have they made a mistake um yes they'll be in touch yeah

Channel: Shark Tank Global

Views: 16,147

Keywords: Shark Tank, Shark Tank US, Shark Tank Australia, Kevin O’Leary, Barbara Corcoran, Daymond John, Robert Herjavec, Mark Cuban, Lori Greiner, Dragons’ Den, Money Tigers, Entrepreneurship, investment, reality tv

Id: CctuNHe2y1U

Length: 14min 5sec (845 seconds)

Published: Sat Jun 29 2024