Top 5 Pitches From Millionaire Entrepreneurs | COMPILATION | Dragons' Den

welcome to Dragon's Den home to five Titans of the business World her ready to pounce on profit-producing ideas it's the season of good will but will there be sleigh bells or alarm bells in the Dead first to find out is an entrepreneur whose products are much in demand at Christmas time what am I worried about not much I don't think they're probably going to say some nasty things about my business I expect but I'm pretty confident that I know most of the numbers [Music] Heat of the Moment May well mean that those slip out of my head but we'll see what happens when I get in there [Music] hello dragons my name is Andrew Pierce I'm the CEO and founder of thoughtful an online greeting card Marketplace I'm here today to ask for 80 000 pounds for five percent of my business foreign sorry I've totally lost myself I actually thought you'd just been thoughtful did you know the online greeting card Market is worth 1.6 billion pounds in the UK per annum and the innovation in this space hasn't really moved on since moonpig launched over 10 years ago that's where thoughtful comes in it's a thought was a marketplace where we allow anyone to design create and upload their own content and with every card that the we sell on behalf of the Creator they receive 50p which is a market-leading royalty our mobile app allows people to navigate really quickly to relevant cards you can even add your own handwriting we've been running for 12 months we have over 65 000 customers in 2017 we predict that we'll do one million pound turnover 2018 we're predicting we'll do 2.5 million turnover and 2019 6.7 million turnover I've got a couple of cards for to hand around to you all after a very nervous start Andrew Pierce finds his feet and manages to finish his pitch I hope I'm right with your card whoa he's offering a five percent equity stake in his online greeting card business and seeking an 80 000 pound investment in return Deborah meaden wants to understand the shopping experience of Andrew's card clientele Andrew hi there's actually a lot of places you can buy obviously online plenty of them so if I went on your site today it's actually I can actually transact on your site how many cards have you got active in our database is about twelve thousand and how much do they cost uh two pounds 99 plus postage so you're literally giving me the same experience if I walked into a shop picked a card up from the till walked over to the till paid for it and then stuck a stamp on it yes okay you've got your 50 pence that goes out which is your commission what else have you got in terms of cost of sales uh so you've got credit card fee Printing and production so it's about one pound currently it's about one pound 20 ish that we make per card Deb remeden breaks down the figures and discovers a healthy markup on the businesses products but Jenny Campbell is wondering if the increasing use of social media might mean the writing is on the wall for a traditional card company Andrew is that card Market going to decline over the years people have stopped sending cards because they just post a message on Facebook or they send you a text and cards become a thing of the past like handwritten letters have become a thing of the past the car market is still growing Jenny so it's still growing uh year on year um I think it was five percent last year so and people and we love giving and receiving cards in this country yeah we're the biggest card-giving nation in the world I'm not over looks that what you've pitched is anything unique yet I missed something because you can personalize using your own handwriting and upload today currently yeah so okay so yeah what is it that you believe that you've got that's a real USP the USP is that the 70 of our content is not available on the High Street okay which is okay that's fairly unique so what have you spent on developing this app today we spent about one and a half million pounds oh how much you spent one and a half million yes wow Andrew I'm now completely intrigued where did you get that money from uh so okay so uh basically I've run my own businesses before before today uh from about the age of 21 I set up my first business which was a an outsourced call center and how much do you sell for uh we sell that for 12.1 million how much did you make uh uh six wow um so and then after that I thought why don't we try conference calling so something totally different okay so you did that and what did you sell that business for sold that for about 37 million and how much did you make uh about 15. [Music] you've made 21 million yep and you clearly you are a mega entrepreneur no question about it you should be seen here not quite yet the Revelation that there's a sixth multi-millionaire in the den has caught the attention of the dragons but Mega wealthy took a Suleiman appears more concerned with his two pound 99 personalized card thank you for calling me the old dragon why are you here you don't need to be here uh well I mean the first reason being here is I really need I really would like a dragon to be on board to help us grow the business over the next two years you could quite easily write a check out for eighty thousand pounds and you won't blink absolutely correct right so you don't need the money no you're not quite sure what you want from a dragon I think further on down the line with in terms of raising additional funding I'm 100 certain what I'm looking for with a dragon which is which is help networking um opening the black book to different funding opportunities something that I've never done before because I've never raised any cash before I'm not a banker that's okay you'll give me the ball yeah look I think if a dragon puts in 80 000 for five percent within two years he'll be diluted down to about one percent I hope it won't be deleted to one percent so having a dragon on board yes will definitely add value to your business yeah 100 right and there's a price for that so if I was going to invest in your business I'd want to know that I won't be dilated so can you can you give me that guarantee I can't leave that guarantee today I'm looking at this I'm out thank you Tuka suleiman's concern that future investment will lead to some serious Equity shrinkage makes him head for the door and Deborah meaden has an issue with the slice of the company that's up for grabs in this business I can see very quickly that you're going to get to a stage where you need Millions okay raising of that doesn't concern me at all the bit that does bother me that if I started anything close to the percentage that you're offering I end up doing all of this work bringing you all of the funds in and ending up at the end of the day with a tiny tiny tiny piece I want to own a chunky bit that keeps my attention you are really good but it's just not my style so I I won't be investing I'm out look you're obviously a smart guy in a very successful businessman congratulations your previous business how did you build your customer base on that exactly same as I'm doing now was it online yep and when you saw the company what were the sales of the company 16 million right and so you you did that without any investment yeah I'll tell you what I'm thinking um I think it's a neat idea but you're going to be diluting investor substantially by raising significant money and that's concerning look I will make you an offer but I need to have a certain amount of equity for it to make any sense and I'd probably be open to sharing this with another dragon so my offer is half the money 40 000 pounds for ten percent of the business thank you for your offer Tage lalvani makes a move for the greeting card business however he's only offering half of the 80 000 pounds the entrepreneur is asking for any deal requires another dragon but just two have yet to declare time for Peter Jones to put his cards on the table Andrew you're the type of person I'd love to work with because I think it's good to work with somebody that clearly has entrepreneurial Flair Talent been there done it and actually is putting themselves on the line and having another go but I'm really concerned for you with this business this is a very very very tough business to get right without a huge amount of capital behind you Andrew I'm going to wish you well on your way and say that's the only reason why I'm out um but many many congratulations on your previous success thank you Peter Jones decides past riches don't outweigh futurisk and declines a deal only Jenny Campbell remains her banking credentials could help to secure Finance further down the line will she want in or opt out so I guess I sit here Andrew thinking come on it's a drop in the ocean that money to you and you've done it all before really do you need someone and I certainly don't like the small piece of equity but I'd like to be part of this journey because you've been so successful and you know you buy the person first and foremost and you truly believe in this and I like a good card so I'm going to offer you half the money for seven and a half percent do you need to go and talk to the wall uh no not yet I think I think that might be a bit later on at the moment there's not a deal that even works because at the moment Jenny's on seven and a half percent and you're on Ten and I would like you both on Two and a Half each so what's the deal can be structured that works for you guys and works um works for me as well well I mean look what I can do is I could drop it down to six percent uh when the money was paid back I would have to say no that that doesn't work for me anything more than ten percent for me today is something that I'm very very definite that I don't think we should do okay I think you know a 10 is a good percentage a good slug of equity in this business let's meet halfway eight percent dropping down to five point five percent each once our money's paid I I just don't I I have to stick to my guns here and I think it's it's it has to be so whatever you're gonna have a think on that one yeah I think you should I think and uh Jenny would match that as well would you yes okay all right and Jenny Campbell's revised offer of a collective 16 reducing down to 11 once their investment is repaid is still more than the maximum the entrepreneur is willing to give away will he agree to the Dragon's terms or walk away from the deal Tage Jenny I would like to accept your offers good decision wow after a battle of attrition in the den the vitamins boss and banking Kingpin unite to seal a deal and the entrepreneur departs with the 80 000 pound investment he was seeking the overall feeling is joy that it's finished boom it's a lot more nerve-wracking there than you think actually you're right to push for the little bit extra because you're going to be seriously diluted I'm really excited to have Jenny and Tasia on board with their backgrounds we will grow to a six and then hopefully go into 12 million pound business over the next few years many successes in the den are based on innovative ideas that do their bit to save the planet and our next entrepreneur believes his Eco idea coupled with a sprinkling of patriotic passion puts him in the perfect place to seal a deal I've probably got my drive from being Scottish I think that's part of it the we've always been downtrodden as a nation and I think we've always had to fight I come from Dundee I'm very proud of our Scottish Heritage Grimes hoping his pitch will have what it takes to ignite the dragon's passion to invest in his product it's really done to me and actually being able to sell the opportunity the product sells itself if I can sell the opportunity that I think will have success today hi my name is Brian Irvin I'm the CEO of dynamic materials group a specialist group of companies that manufacture Advanced Materials these materials are used in a wide range of Industries in very demanding environments I'm here today representing microtech's products limited and a truly unique product called firemizer I'd like an 80 000 pounds investment for a 16 Equity stake in that business was born in Scotland it came around as a chat between myself and my father and I was explaining a metallic process we have we effectively spin molten metal and quencher but rapidly we quench here about a million degrees per second and it gives the material some very special properties my dad asked what would happen if you use those materials on the grate of this Coal Fire and I said I didn't know but don't tell my mom he tried the material over a period of about two years and kept a log of of the call he was using he actually used a third less call this meant we had a very novel product um very unique in today's environment I'm sorry the product is very simple to use you simply lay it on the grate of your Coal Fire or your wood bowling stove and you will use a third less fuel the product itself is is beautifully simple it leaves a very very fine Arch so you've got less less Ash to dispose of so I'd like to give you some samples if I may great and what nervous pitch entrepreneur Brian Irving please be careful when your focus is very sharp who claims his energy saving mat can help real fire owners get more bang for their Buck by using less fuel Brian's asking for 80 000 pounds in return for a 16 stake in his business will the product eco-friendly claims spark Debra median's interest foreign what this does is because it's a superconductor it actually gives you a very even body you don't get the hot spots um it also ensures that you get every ounce of calorific value out the fuel so when you look at the ash there it's like talcum powder as opposed to the the normal ice you'd get in your Ash pan which we like to have bits in there and it's effectively waste that's that's on bottled fuel it looks like wire wool so I guess it's just conduct acting Heat evenly because it's it's got it glows red all the way across and it balances out the ear flow so it's totally environmentally friendly okay Brian mentioned about how many companies have you got in total there are nine companies in the group in total nine company companies in the group yeah all specializing at Advanced Materials so the other nine companies what is the turnover the total of the nine companies including us is six million pounds six million pounds and that company makes a profit yeah how much about one million pounds per item one million yeah oh would you ever consider an investment in your whole group I've walked in the past a number of times with Venture capitalists there's a certain Freedom about what we do now because this is one of a number of products we have there's probably half a dozen more would I get a fair value for them just now I know I wouldn't or to compare me Venture capitalists like comparing Danger Mouse with Superman okay and by the way I'm not Danger Mouse okay so I don't really get the comparison it's just not right for me at this point in time I I would have to say I I wouldn't in in the rest of the group frustration for Peter Jones as Brian refuses to add his other businesses to the investment despite the opportunity to work with a superhero now Tuka Suleiman wants to see if the finances of the company on offer Stack Up so how much turnover is that to the turnover that's about 60 000 pounds sixty thousand so we're going from a six million business or we have a business of sixty thousand pounds and you want approaching half a million for that right the valuation for that business is about half a million in my view in your view yeah based on the investment I've made so far of about 420 000 pounds and the meter's still running so if you add 80 000. you've made what on this we've spent about 420 000 clients the reason I'm here is we've tried agents we've tried knocking on doors and we haven't had any success thus far so the sixty thousand pounds you've done is that year to date or that's the whole year that's for the two and a half Seasons that we've had tell me a year one year to year three sales 30 000 17 000 and about nine thousand something of that order it gets worse every year well that's not very encouraging right so I think it's quite a interesting product clever okay and very simple so why is it constitute almost half a million pounds to to get this to Market this is the third iteration of packaging we've gone through because people look at the packaging and say oh we don't like that we want it to be green can someone else came along and said oh you want it to stand out it needs to be orange and it needs to have this on it so we have been through every time you go through and design iteration but packaging and currently we're spending 40 to 50 000 pounds a year with PR agency alone well the only person who's made money through this teams is the marketing and PR agency correct and the packaging companies if I put my money in this business you're literally going to burn cash the entrepreneurs Frank disclosure has surprised tej lauvani who's concerned the investment is a potential Money Pit will Brian's frivolous Financial skills worry Peter Jones I really like it and I like the concept I think um I actually think the packaging is okay but here there needs to be a picture of a fire or great you actually know what it is and it's a fire mat yes you know say what it does on the tin so there's a lot that I think can be done here you're asking for eighty thousand you don't need the money what was the reason for you not going for a much much lower amount of money yeah I was I that would have been a smart move strategically I I accept that now because to be part of a one product subsidiary investment of a nine Group Company of which I have no ownership or part of and to put up such a sizeable amount of money it's not something that I would do much as I can see an opportunity it's not the opportunity that I'm going to take forward so for that reason I'm out Brian's failure to offer up a slice of his other companies or ask for less cash has lost him his first dragon [Music] will Jenny Campbell see potential in the business that's up for grabs [Music] hi clearly and I feel somewhere along the way you've lost sight of the fact that this is not working is it and time to call it a day yeah or change the business model effectively start to purely re-evaluate absolutely I mean paying a PR Company 40 or 50 000 pounds a year for it to go nowhere that's got to be a really poor decision making hasn't it it doesn't make sense and I sense almost a sense of desperation to you know rescue this help me fix it because otherwise I've got egg all over my face I think it's probably an emotional attachment to this particular product because it's my dad that came up with the idea say Brian focus on nine companies over there he normally just says don't give me another one of these I've still got five of them in the shed because I've not used that one yet oh my goodness Ryan look um this is what I'm thinking okay nine companies but generally six million pounds of sales so your time and focus is on them who's going to run this company I won't actually be running I'll be involved in it but I wouldn't be running why did the person who's going to be running it here today you expect me to put in money 80 000 pounds of my money into a company which is going to be run by someone else so I'm gonna say I'm not going to invest I'm out but good luck um Brian I quite like this product and I could have liked working with you but you're not offering yourself you're divided so you know I'm not going to invest in what I could rudely call probably a hairy mat for a fireplace that's that's what it is and one tenth of your time at best I'm just not going to do that okay so I'm out Brian's Revelation that he won't be at the Helm of the business makes it too hot to handle for tej lauvani and Jenny Campbell and it looks like Tuka Suleiman has also made up his mind Brian you're very successful entrepreneur you have nine companies and one dad so what you're trying to do is pass the parcel you've tried everything you can Consultants PR branding packaging marketing and I can't see how I can add value to you tried it yeah so on that basis I'm not going to invest in it and I'm out four dragons down as Brian's business fails to stoke the interest of Tuka Suleiman can the Den's most eco-conscious investor Deborah meadan offer the entrepreneur an 11th Hour lifeline Brian a manufacturing process if this is an environmentally friendly product how environmentally friendly is the manufacturing process we have this unique process this uh metallic candy floss machine that spins the molten metal metallic candy floss I like that and it gives them this is what gives the metal its special properties so is this energy saving or is it switching energy from me using energy up in my house to you using energy in the factory have you done that Sam though uh the truth is I haven't no I am worried that you haven't done that calculation because if you are claiming environmental benefit there's got to be a credibility underlying that which actually says no this is genuinely environmentally friendly foreign disappointed [Music] I won't be investing thank you thank you Brian okay thank you Ryan's burning ambition for an investor has turned to ashes he leaves the den with nothing but regrets I would definitely make the deal more attractive if I went back asking for a very small amount of money in order to benefit from the dragon's experience and knowledge and contacts he's on the last roll of the dice yeah I think his idea of investing in a subsidiary went up in Flames yeah we've got a lot of experience but going into the den is a completely new experience for us we're more used to being on the other side of the table you said we're ready I've learned the pitch I've done it a hundred times I'll probably forget what I'm about to say next if you get stuck just look at me okay if I don't take over panic they're here today with a completely new business a personal security product and they want a dragon to help fast track it to be their next big money spinner I'm Roger Williams and I'm Phil Stratford and we're the owners of the multiple award-winning door Jammer we're here today to present you with an opportunity to invest 80 000 pounds for a 15 share of our company have you ever been in a hotel room where you don't feel 100 safe you look at the door locks and you think they're not fit for purpose uh wouldn't it be good if you had a simple solution that you'd give to your children when they go off to University or they go on holiday that would make them travel and feel safer well rudge now there is a solution okay door Jammer is a small Innovative patented device that fits neatly under um almost any door in the world can I just demonstrate it to you how it works so you fit it under the door and then you begin to wind the Jammer up until you get contact with the door you try the door to let you know that it's connected but if you then had to leave the room in an emergency at any stage where you can go down and do it pull the Jammer and it will come away we have sales in over 25 countries so come and join us and let's scale the sales together [Music] no forgotten lines from Roger Williams and Phil Stratford these days hailing from opposite sides of the pond they're hoping a dragon will unlock the door to success by investing 80 000 pounds in this sideline to their business get the girls away from them in return they'll give away a 15 share the product has made Sarah Willingham Keen to get Hands-On I would actually quite like to try it with the door would you mind putting it back and we'll have a a tug on it okay you normally want to try and get in with it wouldn't you the idea but you wouldn't be this side of the door would you you're trying to prevent people from getting in okay he's ready we actually thought you'd come and take it Peter Steph I mean look at my bedroom Sarah yes it's definitely I think it's it's a deterrent but there's no doubt if you wanted if you wanted to come on I'm gonna let that I'm going to leave that to somebody who's better dressed for it I think whoa here we go it's quite good shall give me the Final Touch they're not brilliant [Music] Nick Jenkins takes advantage of a rare opportunity to flex his muscles with disastrous consequences for Phil and Roger and it's kicked off thoughts about the product's necessity for Peter Jones why wouldn't you you know the door stoppers you have I have them in my house they're wooden why wouldn't you just use that um they usually kick away this gives you a higher level of protection I mean Nick is not known for being a bit of a bully boy and yet it took him about 10 seconds to get into the hotel room takes you about three seconds to wake up but the thing is that doesn't help me if I'm lying in bed in my underwear the whole point about this product surely is to prevent somebody from getting in not to give you an extra 10 seconds is to prevent silent entry is the idea and of course like those security products yeah um if if someone wants to get in most places they can I mean I was in a hotel in Malaysia where they had guards on the left and I had dog Jammer with me at least I was able to get a degree of comfort that I had a level of security that the um I could control as well Rogers I think that's just salesman nonsense if your product only gives a 10 second delay you put a table or a chair next to the door it's exactly the same Phil and Roger can't seem to convince Peter Jones that their product is the best solution for the problem it's designed to solve and now Deborah meaden wants to talk Hard Cash um how much does this sell for they sell for 24.99 so how much are they costing you to make we we buy them for 6.39 so you're not making them we are making them so door Jammer buys them for 6.39 we make them in our Factory for 4.50 okay you probably need to explain that to us yes so we have a business we've been partners for more than 30 years and we do Industrial Products business to business products so that's your yourself to invest in a business that only does door Jammers always does door Jammer yes um surprisingly I just want to understand the relationship so this other business you've got how big how big 70 million dollars turnover yes turns over 70 million dollars a year yes um that's quite a good business that's a big business can I ask what profit does it make company uh Eva does about 10 million so you make 10 million a year um you've got more money than me [Laughter] Dragons I'm a multi-millionaire um I don't need money I'm from this door stopper we have made Millions can I can I just say thank you news of philand Rogers other successful business has certainly created a congenial atmosphere in the den but now all are back in their rightful places that 70 million dollar question is still hanging in the air [Music] what are you doing here you know you'd have many other ways of gaining routes to Market I mean you must have when we first got door Jammer we spoke about how we could possibly get it to Market and we only know the business to business route that's through trade fairs we we think that you've got the type of expertise you've certainly got the profile and we don't we actually pitched it to Robert Dias about a year ago and I mean they weren't that interested well that's interesting why not I mean they're you know they're professional buyers their jobs to find new product and this and your bag on that's exactly who you talk to yourself I think we weren't ready I think we were too amateurs for them we probably couldn't answer all the questions that a consumer company would want I will not accept that it's the way you presented it because any professional buyer will get over that they will you know they will think oh good product like that I mean when I first started with it I totally found a PR Company to handle it no no this is the same thing I'm being very very specific so why were you told they were not interested in this product yes we found them Home Depot Costco they all look at the product say they're interested decide that we're a one product company and channel this off to a to a distributor let's see that worries me even more that worries me even more because those names that you've just listed I've got product in one product and they were so quick Off the Mark I can't tell you see it love it buy it you know so that's my worry I don't get it the dragon with contacts in the products Target stores casts doubt over its salability in them and this successful business double acts inability to get the product to Market has sent to kusuliman into a state of confusion a pair of you out you know here you are you're acting a little bit twiddle dumb and twiddle D and you're acting as if you've never been out there but you're you're very astute the pair of you yeah we're professional uh business guys you know we're both out there doing the business that we understand what we're probably seeing quite badly is that the consumer said over we've not got proper experience in it and coming to the den and getting someone on board who understands that will drive it forward but if I invested you'd say we want to drag it on board so they can really help us get the product out there you'd put all that pressure of the sales back on me myself how many hours a week have I got you don't need a dragon you don't need my money and for that reason I'm out Phil and Roger's success in business has led to failure with potential investor Tuka Suleiman and it doesn't look like it's gone down well with Nick Jenkins either the thing that I really enjoy is investing in businesses to really make a difference to support people who are going to go and create a great business not really terribly interested in ineffectively supporting a little tiny sideline of one of you know your enormous business it's just not that appealing it's not for me okay so I'm out thank you thank you my biggest concern you've already tried to sell it to a lot of people and those are the people that I would be able to introduce you to because they're UK contacts and they've already said no so genuinely I don't think I've got a lot a great deal to add so I'm out you're going to sell some of these you're going to make a bit of money but it kind of it feels like it's not that important to you because you've got this whole other successful life going I wish I'm not certainly not going to quit it well done but it kind of then loses a piece for it so I'm afraid I'm out Deborah meadam becomes the Fourth Dragon to show Phil and Roger the door does Peter Jones have more faith that these successful businessmen have what it takes to build another multi-million pound Enterprise I think you have done incredibly well I'm a little bit frustrated at the fact that you've done so well in your own business and yet you thought that this could be the route that you need to go and sell this product I don't buy into the product I think it is totally over engineered but I don't think it's going to affect your lives you are multi-millionaires in your own right and I congratulate you but I'm not going to invest in something that I just don't think is necessary so I'm going to say that I'm out [Music] it was really interesting bye-bye so Phil and Roger's concerns about their ability to sell becomes a self-fulfilling prophecy as they fail to persuade the dragons to buy into their dream you never see yourself in some from somebody else's eyes absolutely yeah maybe it was nice maybe working with guys that are running a 70 million dollar business um maybe that put them off maybe maybe they think we should have been poorer and that might have made a difference really good I really enjoyed that the one bit that was really unexpected Roger I don't know whether you noticed but I've got a new partner but don't worry I'll never swap them for you thank you perseverance was a guarantee for Success our next entrepreneur would already be a millionaire Jason Hamlin first took his invention to Market 18 years ago and has been trying to make it an industry front runner ever since [Music] it's got huge potential the product sells itself so I'm hoping the dragons look at this and go yes we could sell this and it potentially could be sold all over the world hello dragons my name is Jason Hamlin I've got a company called bike away and I'm looking for a 600 000 pound investment for a 50 share in my company bikeaway sells vertical bike lockers and bike stands now what's happened in recent years in cycling there's been a tremendous increase in the value of bikes being sold and this increase in quality of bikes has led to an increase in bike theft now what the police have done to combat this is they have gone to an organization called sold secure and sold secure do an attack standard so they literally break into something and they give it a ranking they've got a bronze silver and gold and gold is the highest Accolade for cycle security and this Locker here has got gold it's the only one of its type now big organizations like hospitals train stations housing associations they all want secure cycle parking because customers are asking for it it's a wonderful product for you lot to for you all to get involved with if you'd like to and please I'd like to answer any questions that you may have a passionate pitch from security Savvy Jason Hamlin who's hoping to ride away with a massive six hundred thousand pounds in return for 50 percent of his bike Locker business thinks his invention has what it takes to become a must-have for cyclists but does Peter Jones share his vision I don't understand it it just looks like a an enclosure that is just surely like a lockable small shed for a bike isn't it it's the design of the locker this is a real wolf in sheep's clothing so show me how it works basically there's box section behind here with a cut out and this basically pulls into the box section okay so when you close the door this plate grabs the side panel and is held in place with a padlock this has got a patent on it as well it is very simple Peter I totally agree but that's the beauty of it when you block it you cannot open that door now it is totally Gemmy proof because the way that's caught into the side panel if you try and go in there with a crowbar I don't I if you decided to invest a very important book because the whole point of this is security so I've got to give you 600 000 pounds to see if I can get in it now I'm saying if you honestly can't if you got into it within 10 minutes you can have your money back again you probably know that I'm in the cycling world yes and I agree with you people are spending two thousand five thousand twenty thousand on bikes and security is a risk so how many of you sold I've sold over 10 000 lockers throughout UK and Ireland since I've started Jason connect can I ask you a question you've asked for 600 000 pounds what do you need the money for at this this present time I don't need the money I need help but we do need the money in the future but why do you need six hundred thousand pounds today if you haven't got a plan for it I need the money to build the locker in the future why does it cost six hundred thousand pounds to have a factory to build this stuff up you want 600 000 to build a factory yes but not day one tej lalvani struggles to get to the bottom of how and when a 600 000 pound investment would be spent the dragon who made her cash in cash points wants to get to grips with what's propping up this company's 1.2 million pound valuation so last year you did what internally you turned over 300 000. your gross profit was what um I 154 and your net profit uh I but I did not development was 24 000. I know it looks bad I do understand that so I'm glad you said that so how are you valuing this at 1.2 million now I've explored loads of markets and say selling 10 000 altogether and I really hope you don't throw your toys at the pram before I explain why I've got to where I am I'm valuing for business at six hundred thousand I'm putting that into a pot if you want and you're putting six hundred thousand pounds in and we're gonna own that pop 50 50. unless I'm missing something I think this is barking mad you're putting in six hundred thousand I'm putting in six hundred thousand so therefore valuing my company at six hundred I am making sense aren't I say yeah [Music] the amusement in the den as Jason demonstrates her lack of grasp on how to calculate his company's valuation but luckily Deborah maidens on hand to give him a masterclass in the numbers I think you genuinely think you valued your business at six hundred thousand pound am I right I'm 500 because I'm putting 100 grams worth of assets right so so could please concentrate for a minute yeah I am paying six hundred thousand pound for half of your business in saying that half of your business is worth six hundred thousand pounds all of your business is worth 1.2 million pounds so Deborah if I sold you 100 of my company how much would it cost you 1.2 million okay so you've now owned my company and it would have 1.2 million in the bank okay 1.2 million yeah stop looking at somebody else because you think they might make your life easier concentrate on me because I promise you you're not talking sense half of your business is worth six hundred thousand pounds all of your business is worth 1.2 million pounds you need to get that into your head that's it but it's saying you don't understand that is a little bit lock it is a terrible block Debbie Jason can I say that you just called Deborah Debbie did he sorry that's all right I haven't heard that for years it's quite funny please don't call me Debbie Jason has won the Good Humor of Deborah meaden but his refusal to recognize that his numbers don't add up is no laughing matter and Jenny Campbell's ready to hand the task over to an altogether different group of experts go down the pub tonight and have this debate about 600 000 1.2 million and I'll take a bet on where that'll land because I can't get past you know this valuation which is ridiculous it would take me 50 years to repay my investment on current trading and had no idea when I'd see my money again absolutely I'm sending you 600 000 pounds where you then own 50 of my six hundred thousand pounds on day one and I might get it back sometime never so bless you um I'm out you might have created the best product that's out there at the moment but you don't know what to do with it is that fair absolutely nailed it on the head Peter thank you the problem is that I needed you to come in at a much lower level and because you haven't sadly I'm going to say that I'm out oh that's a real shame you can't tell me today that you're going to use 50 for that 100 for this 20 for that and I don't feel comfortable parting away with so much of money and you don't know what the money is really going to be used for so for for that reason I'm out actually I think it's really it's neat the truth of the matter is I am worried at the amount of work that you need um that is the problem in the business so I'm afraid for that reason we'll forget the valuations would you like to go over the valuation just one more time or should we leave it there I say I say really I say we leave it there all right but anyway Jason lovely to meet you but I really I won't be investing so I'm out thanks Deborah meaden becomes the Fourth Dragon to exit the deal only Tuka Suleiman remains and with business interests in a cycling website will he choose to go along for the ride can I just have one word before you speak one word one well one second you've got ten seconds okay if you've invested in me too her your money's safe you own half the business and if we don't do the sales which I know you can do you can have all your money back and we'll go our separate ways you seem like a very knowledgeable person in in this field very passionate if you come in here and said Tuka I want 50 000 pounds and there's 25 30 because I'm in this field I'd say you know something is a punt to come here and say you want 600 000 pounds I'm very sorry I'm out but I wish you all the best Jason's commitment to his product won the praise of Tuka Suleiman but he couldn't convince the dragons of his company's worth and he leaves the den empty-handed [Music] wow six hundred thousand pounds bless him he could have been here all day and we would have gone in circles they were Fair they were fat I knew I was asking a lot the stumbling block for them was I valued my company I believed it was six hundred thousand I dude now I'm obviously wrong [Music] there's no such thing as a typical entrepreneur and as the dragons are soon to find out the next Duo are proof that the den is always full of surprises [Music] hello dragons my name is hiropa and I'm the founder of torch in Europe my name's Nathan I'm the creator of torch a new brand of lit apparel for urban cyclists we're here today to offer you the opportunity to invest 75 000 pounds for 10 percent of our equity in torch Europe so this is our first product for torch there's three things that make this unique for cyclists the first being that we have lights integrated into the helmet what makes it unique also is the fact that they are visible from 360 degrees for the cyclist the second thing is it is the first helmet to have rechargeable batteries the global cycling Market is valued at over 50 billion pounds a year to give you a feel for the size of the UK Market helmet-wise there are over one and a half million helmets sold a year so we'd like to just and we'd be happy to answer any questions regarding the product or the business [Music] from business partners Hugh Roper and Nathan Wills they want 75 000 pounds to help fund their expansion plans for their cycling gear come safety lights venture but telecom's Tycoon Peter Jones has something on his mind I think this is a first in the den I believe it probably is but not for the reason you're thinking I think this is the first time that we've been pitched a really great product for a reasonable amount of money by a multi-millionaire huge let's explain okay you're the multi-millionaire I know you um yeah you'll know the industry that you were previously in yeah you did well selling to Carphone Warehouse why do you why do you need us um the purpose of being before you is to seek your input in terms of helping accelerate people's brand awareness of our products our company so you're more here for the pr then PR is part of it for sure but I'm also here because I thought it would be quite fun to do Visions with one of you guys and how did you guys meet what's what's the connection well I found Nathan as a result of just searching around the internet for a product similar to this and um I just dropped him an email saying hello you don't know me I'm you I think your products are great I'm an investor might be interested did you just think oh my God this is the most incredible phone call ever yeah it was it was an attractive partnership I thought well it looks great thank you Nathan I've got a million questions I've got eight helmets at home okay they all sit on a shelf and would I add one of these so one question is the price point well our retail direct to Consumer through our website is for 85 pounds and what's a typical commuter helmet cost there's nowhere near 80. typically you can get a range anywhere from I would say 20 pounds up to a couple hundred so we're we're basically mid-range for that but the advantage of this is you take the cost of a helmet and the cost of a set of lights and when you combine them we're usually under that cost yeah but you buy the lights on a bike we shall run by a Dynamo they'll work 24 hours a day seven days a week so you just put them back undainable the animal charges the lights no lights come on your helmet could run out of light and something could be stuck out when it start with no lights well no one's used the Dynamo for quite some time on a bike oh I did a Jasmine batteries but it's a good question how many times can you recharge the batteries in here right now the manufacturer has stated that a thousand Cycles okay and it's got two charging points is that it does it does it's a USB right okay so you give me the wire so there's a two points USB so you can charge it from a lot you can charge that from a phone charger that's both well done it's very neat if you've got my size I think it's absolutely beautiful I can't bear helmets normally they just they make people look geeky and they're ugly but it's lovely and I think The Branding is beautiful thank you thanks what's wrong it's all too good [Music] praise for the product but will the old adage that if something sounds too good to be true then it probably is proved to be the case for Peter Jones I can tell you I really I do like it immediately and I'm not a keen cyclist um have you got protection on it yes we have patent protection on the helmet have you got the pattern here uh we do actually yeah do you mind if I have a look at it absolutely [Applause] thanks Nathan you're welcome thank you it feels like you've just put a pin in me answer I was feeling that perhaps you've got a Utility Patent for lights on a cycle helmet yeah but you haven't have you no you can't what's the pattern for yeah it's a it's basically a design so if you change the light or change anything anybody can do it right Suzanne but you can change the design different way okay there's some big players they could there are but how long will it take a decent sized company to integrate lights it I would say that it's definitely doable and that's you know the whole the whole point with this is to be the first to Market no but you could see the excitement when you talk about that and then I know that you've got a multi-millionaire backer as well it became quite exciting whereas now I think that your design and your works are still exciting but not perhaps to the same level first painful blow for the entrepreneurs is their lack of patent leaves their product vulnerable to competition it's a revelation that leaves the pair vulnerable in the den when you walked in earlier I just loved The Branding loved the look of the helmet everything about it was fantastic I'm all about design that to me was just an extraordinary melange of something that I would want to be a part of however the patent is just not there and it's just not an investable business for me but I think you will be very successful and I think anything you touch if this is what you've designed so far you're very very creative but I'm afraid I won't be investing so I'm out [Music] no cash from Kelly hoppen as the product's lack of protection puts her off investing what conclusion has Deborah meaden reached guys I think it's really neat I often say I just I've just got to see the map I've just got to think right I know what I can do with this you know I know how I can help but I don't ride bicycles I've got no idea so I might as well tell you now I'm out thank you for your feedback thanks and when you first came in I did think silently this is it but seeing the design pattern I realize it's it's not so on that basis I'm going to say that I'm out but I wish you both every success thank you thanks I am a little bit concerned that there's no pattern protecting the actual facility and more designs can come up but I think you know if there's a natural investor here today it might be peers but it's certainly not me so I'm going to clean myself up 10 times for the entrepreneurs as four dragons turn their back on a deal it's now all down to Piers Linney will he be guided by his love for bikes or his head for business he's so annoying I'd love to um I mean a lot of it's been said I think although functionally it's very good it's beautiful I probably wouldn't buy one because to me it's a bit geeky it's a bit of the guy who's got mirrors on his bike and would you like to see the midnight Edition Oklahoma can't say no so what's the difference this is tinted lenses oh yes yeah so this is your stealth version yeah we limited that one on Kickstarter and it sold out within the first two weeks so we've we're trying to decide do we do we keep it as a limited thing and make it special or do we just make it available to who really whoever wants that's the one my son likes he's uh he's a big scooter as well and that's another Market yeah yeah no that's probably it's more like a it doesn't look as like I've got lights on my head everyone yeah it's not a bit cooler [Music] [Music] [Laughter] hold on guys defeat as Piers Lenny's exit brings an end to the entrepreneur's hopes of investment now it's back to plan B A forging ahead without a dragon on board I think it was good we can always do more work on patterns moving forward yeah good job they said they had that pattern I thought yes it's beautiful though design is stunning yeah good looking

Channel: Dragons' Den

Views: 378,684

Keywords: BikeAway, Dragons' Den, Dragons' Den UK episodes, Thortful, business, business development, entrepreneur pitch, entrepreneurial journey, innovative business ideas, innovative products, investment, investment opportunity, investor pitch, pitch competition, seeking investment, startup funding, successful business ideas, successful entrepreneurs, successful pitches, venture capitalist TV show., venture capitalists

Id: PaPqji3w6aA

Length: 62min 8sec (3728 seconds)

Published: Sat Jun 10 2023