Top 5 Youngest Entrepreneurs In The Den | COMPILATION | Dragons' Den

[Music] [Music] hi Dragons I'm Ryan Ashmore and this is my business partner Liam Webb together we run a record label called our care records and today we're looking for an investment of 50 000 pounds for a 15 share in our company the company was four in October 2010. since then a lot has happened we've signed two great artists who are both currently working on our debut albums Chris and Mark both couldn't live in Germany and we tried to travel that at least once a month there's also worth noting that all of our artists sorry um recording the process on a new artist called Scarlet Scarlett has received great reviews from leading promotion companies as well as multi-platinum producers here you can see some pictures of our artists with thinly you'll agree each artist has a very marketable style and look and this combined with their musical ability makes us believe that success is inevitable you have a great passion for music and business I believe you have demonstrated skills that sometimes match those with business people twice our age thank you for listening to our pitch you're playing medley of track to each other listen to [Music] insane can you please refer to ask any questions aspiring music Moguls Ryan Ashmore and Liam Webb from leicestershire are hoping their new record label will catch the dragon's attention and a 50 000 pound cash injection in return 15 of their business is on offer Hillary devay looks intrigued how old are you we're both 18 well well done thank you tell me how you got into this business um back in school because her friend was in a band and I've always wanted to work in music and he said you know why don't you manage it and I was quite successful managing them I got some gigs at some pretty high high profile venues and uh last summer there was holidaying in Spain and I met her Mark and as soon as I heard him I thought I need to start this again we've worked with him for a week or two in his home studio working on tracks and we met Chris as well we loved both of them we wanted to sign both of them we drew up the contracts and we signed them we get lawyers to draw them contracts we had lawyers checked over them in Germany we managed to work out a very good percentage deal on our part we receive 80 percent and they get 20. we asked them if um what they feel would be fair and they were extremely happy with 20 percent I'm surprised we were it's rare for entrepreneurs to impress a dragon with their negotiating prowess but that's what Ryan and Liam have just achieved now Duncan bannatyne wants to drill down into the financials okay gentlemen have you produced any records yet have you had any income yet we've released two singles but we haven't got the sales data for the second single yet but the first single it was purely for test purposes because we were we were new to the old business we didn't know how it worked um we got it to a distributor we got it on iTunes Etc it's really just learning the process have you started any other businesses I um you used to have a mobile disco company yep I started that when I was 12. how much did you make I'd say around 25 to 30 000. what do you do with that um it's been spent right okay where's the company best at my home so it's in your bedroom basically yeah no expenses really our overheads are about two pound 80 a month on hosting hosting for the website that's it [Music] a level-headed manner and a Thrifty approach to business the teenage entrepreneurs are clearly Charming the multi-millionaires but what will Theo per fetus make of the proposition on offer [Applause] now you're entering into a market that is incredibly competitive cutthroat you and I need to give me a proper reason why I would invest in you if you can be successful in music there's a lot of money to be made and I believe you know with a record label you've got multiple chances because you've got more than one artist you know if one art if one artist God forbid fails you've got other artists who can you can pick it up and you know support it and Ron if you've got a reason I I say the interest that we've received we um contacted a very famous multi-platinum producer in LA and he's worked with Timberland Justin Timberlake Jonas Brothers a lot of kids pop really guys um I think I could speak from a little bit of experience being involved in this with ham fatter it was tough I'll be intrigued to know what would you do differently I'd say is more of an indie band we've got Chris Mark and Scarlett we feel the music is a lot like chart music and right now Pop R B and dance music's where it's at it's what's commercial and the guy that you've mentioned what do you think he's going to do on guessing he will charge a fee yeah not for his services not he won't take a percentage because at the end of the day he works and he needs to charge people or he might he risks you know I'm going to tell you exactly what he's going to do when you go in contact with him he's gonna he's gonna charge you a minimum retaining fee to take the work on a 20 000 US dollars he's not going to start to charge you studio time for hiring out his Studio to make these tracks you're then going to fly your artist out there you're then going to incur expense to do it it's going to cost you about forty five thousand fifty thousand US dollars this is one of the hardest Industries to crack and the number of people that succeed in this Marketplace are literally counted on both your hands you're really going to struggle in this I'm going to wish you guys the best of luck but I'm out thank you thanks a lot a first blow as Ryan and Liam's business naivety is exposed Deborah meaden is next to interrogate The Duo Brian Liam hi I'm Deborah um I get quite a bit of music pitched to me um and I always I always think well you know whether I like it or not isn't the issue of the issue is is it is it right is it the right Market is it is does it appeal so why you yeah we're we're extremely dedicated to this we don't hold down commitments we're not married we don't have families okay that's your that's the way you are yeah but what have you got that's different I'd have to say the artists that we have because they have the great news is that the world isn't short of musical Talent so I'm back to why you we we're only young we don't have life experience but we we're trying exceptionally hard Ryan I've got to be really okay I'm gonna be really tough on you now you're struggling to look at us you're struggling to and that's what you've got to do to get out there and get this music heard you are going to have to knock down doors and you're not gonna have to date no for an answer you are really going to have to work at it I think we're just a bit over awed because normally we are we are going to do that you can't be you cannot be over awed but particularly the environment you're going into because the people who have succeeded are the people who just grab hold of it and say I don't care how old I am I don't I am going to make this happen I don't get that from you two guys okay so I won't be investing you okay thank you thank you thanks a lot right lots of young people making it in this market lots of young people failing in this market you might get there and again you might not but you're a long way from me investing 50 000 quid for any percentage of the business yeah so chaps I'm out thank you thank you what really concerns me is that business has to be fair and Equitable for all parties and you've got three artists signed where you're taking eighty percent don't you think if they was successful that relationship would turn sour very quickly um I think if it turns successful I well we would try our very best to keep them with us but how are you going to manage that we've already given them the con so what you're going to do say I got the percentage wrong in the first instance I've got a business sense is it that it would be a very short-term relationship I feel yeah and what worries me is what then follows so because of that I've got to say I'm out Three Dragons out in quick succession the Duo's Den dreams now rest solely with Duncan bannatyne will he see anything in the youngsters that is worth a fifty thousand pound investment I don't know I'm not sure I'm thinking you know about 50 000 pound into this is a very very high percentage chance that'll lose it there is still a huge amount of money to be made in music let's say you didn't get investment when would you see some Revenue if we get the motion behind it and the single takes off you know everyone loves it it can easily make 100K in a couple of weeks one track so 80 yeah normally it's split 50 50. if they if they were happy with it we were happy with it it's better than offer you made it artists okay I'm gonna offer you the full amount of money I want 79 of the company if you just have a chat is that right yeah sure take the opportunity yeah we'd like to accept you after Ryan and Liam have done it it was one of the most surprising about turns in the den but they leave with the backing of an experienced multi-millionaire business partner well Liam Ryan what have you just done you know it was um a big decision but before if we went out of here with an offer and we didn't accept it we'd regret it so if we can get mentored by one of the most successful businessmen in the country you know you know once he puts that offer out there it's on the table and he'll have to bite his hand off because you know we're now in business with Duncan Valentine well it's going to be an interesting Adventure very good luck thank you thank you thank you [Music] [Music] hi my name is Christian and I'm looking for an 80 000 pound investment for a 15 stake in my company Folger Limited last year I studied graphic design at a level and I was forced to carry around these huge A2 graphic design folders now I found these very awkward to carry because we're so large carrying them on the train through public transport through busy High streets my new product fold yeah reduces the size of the paper by 50 percent leaving it perfectly flat without a crease it does this by folding the paper in the center of the folder so it doesn't actually crease the paper but it does reduce it half the size there's also a professional range named at designers and architects I've had interest from two major retailers wrecked Smith's of Staples have both said that they would wish to place an order both have loved the product I'm looking for an investment now of 80 000 pounds to manufacture market and do some development so this product can really achieve its demand thank you for your time thank you nineteen-year-old Christian lane from Surrey certainly has confidence in the potential of his folio range but he needs eighty thousand pounds from the dragons to launch it Peter Jones needs more reassurance on that potential Christian hi I'm Peter hi I really really like the product um have you done projections for this yes so can you give me those year One what do you expect to do year One turn over 450 000 pounds profit for year one two hundred and twenty five thousand pounds wow there's obviously a huge markup on these folders as they only cost 50 pence to manufacture and direct sales something like the fold your A3 could probably retail at around 4.99 give me some ideas are you a guy that actually come up with this idea are you going to dedicate all your time to this or my time is completely dedicated to this just like it has been for the past one and a half years I've invested 10 000 so far just for product development I raised These funds from my last company which I doubt in a little bit of import export from mainland China and that I made ten thousand pounds doing that and that investment went fully into this product development oh Christy are you talking like a 30 year old you're 19. you've doubled in a bit of important export this is my passion I think this is when do you start doing important export um at 16. and it was only basically to get money to get by rather than going out and getting a job like any other teenager the dragons seem impressed by this young entrepreneur's achievements but theoper fetus is an expert in retailing stationery can Christian convince him that folio has a future Kristen yes hello I'm Theo hi Theo um probably aware I might know a little bit about this product can you just tell me exactly where you've got to know in the manufacturing and production range as it stands at the moment I've approached four manufacturers the most competitive obviously mainland China you apply for a patent on this I have two patents pending six registered designs and a folio trademark which covers all the ranges I am totally Blown Away by the fact that you've actually developed these products apply for patents got pricings from the Far East and got to the position you're in at the moment totally Blown Away are you done incredibly well thank you students pitch has got off to a perfect start but Duncan bannatyne is about to drop a bombshell Christian Duncan hi I would have a problem investing in this for a couple of reasons you know the guy's sitting to my left he knows this industry so there's no way I could compete with them um so if he wants to invest in you I think he will but um because I don't know the industry very well and I don't really think it's a great product although I might be wrong I'm not going to invest so I'm going to declare myself no I'm out okay [Music] in a sudden setback Christian has lost his first dragon will any of the other four be tempted to back the 19 year old um I think I share Duncan sentiment so we've got the Supreme investor here who knows a hell of a lot about this so I'm sort of looking for his lead but I think I'll leave it to him and declare myself out and wish your life okay thank you Richard question I'm afraid you've heard it twice before you've got a natural investor here who's got both the expertise or not he might decide it's in the right product but I I'm backing out and leaving it to a natural investor thank you it's a first in the den normally the Rival dragons will compete fiercely if they sense an opportunity to make money to day three of them have walked away from faldio because Theo perfetus has so much experience in the sector but will he actually be interested in backing Christian [Music] you valued your invention and your designs quite heavily yeah I think some of your figures are very optimistic I think the product's okay but I've certainly not interested in giving you eighty thousand pounds right for a 15 share in those products okay so talk to me about the percentage you can offer me for the 80 000 pounds [Music] but will Christian be prepared to sacrifice a much bigger stake in his business than his original offer of 15 percent [Music] 35 percent what are you going to give me 35 of if you were to back me then I would offer all of my inventions and all of my investment ideas that I have under one company then I would be prepared to give you the 80 000 pounds okay hang on a minute don't accept it just yet Crystal you're clearly very very investable um I actually think you've given away a lot there what is right for me is to probably try and steam in with a slightly better offer to be competitive I would like to get in and spend time with you helping you and I would like to actually put up half of the money okay but I'd like to do it on the basis that actually we give you back five percent which that five percent in five years time could be a lot of money so I'd like to sort of throw that back in Mr perfectas to see whether you would be willing it's a dramatic intervention Peter Jones and Theo per fetus have invested together in the past but will that sway the retail magnate when he's being asked to split the deal and reduce his Equity stake do you know what um when I invest and I work with people it's really for me to show my generosity depending on their performance I don't actually like that to um be dictated to by anybody else I didn't negotiate with you yeah because that was a figure that you felt comfortable with and it's important for me that you feel comfortable in any working relationship exactly how you work yeah I'm quite happy to stay with my original offer to you which is I'll give you the 80 000 pounds I'll support you I'll Mentor you yeah I'll put this product to the market quicker than anyone else okay and develop your product range thank you very much I'd love to accept your offer there well done thank you Christian has done it and he leaves the den minus 35 of his business but up 80 000 pounds on one highly experienced investor have you ever seen a 19 year old standing in front of you employ people I'm a fortune to get to those stages and this guy just turns up 19 year old and has done all that foreign now I wasn't actually very impressed with your negotiating skills after all you went straight from 15 to 35 with nothing in between I didn't really want to underestimate Theo's intelligent and his knowledge so I thought just come out straight with what I'm prepared to offer 35 percent what about the Peter idea of trying to get Theo to give you a better deal let's split it with him hang on a minute don't accept it just yet it did appeal to me but I really did want Theo on board Theo has always been an idol and a role model of mine so it's amazing that I get to work with him in the future we really wish you were very well thank you very very well done thank you [Music] what makes that offering special is that there is a USP which our competitors don't currently have we feel that this is a global product and we really see it everywhere around the whole world thank you [Music] hello dragons my name is Zach I'm the founder of deliver me and this is my co-director Aaron Branch we are here today to pitch for 50 000 pounds investment into our on-demand delivery app deliver me we want to make it possible to order anything anytime anywhere for the spontaneous the vulnerable and those of us that experience life's little emergencies using our prepaid card technology we were looking to disrupt the on-demand delivery Market by diversifying what is available on the platform away from just food also including technology and pharmaceuticals we also have a verified store program which allows us to partner with independent stores and allows them to offer anything for the consumer ahead of our launch next month we are looking at utilizing the 725 Riders careers and drivers that we have onboarded successfully already we would like to thank you very much for the opportunity to pitch our app and would welcome any questions what percent of 50 Grand eight percent sorry eight percent eight percent do apologize [Music] an on-demand delivery app that allows customers to obtain any product from any store is the offering from Zach Lloyd and Aaron Branch who are seeking 50 000 pounds in return for an eight percent share in their business Sarah Davies is first in the queue to order up some answers guys so the idea is if I'm at home on my own with a newborn baby and they've got a nappy rush and I need specific nappy rash cream you go and find it for me yes and what you've just described is literally my life the past three months so as a new parent I've literally been in circumstances I've never anticipated being in where Panic has erupted yep I've got baby in arm there's no way my family or friends can help I can't put him while he's kicking and screaming into the car it's just an impossible situation all right this is not a therapy session okay you're absolutely right okay I'll stop right there what's your professional background so I'm 21. a young age seven and nine I lost my parents both of them so that really propelled me into trying to make money and you know stand on my own feet so our school is to sell Suites and then I moved into doing phone repairs and then from there I've always had this idea just needs the right people behind us and I'm running a direct response social media agency we've got 15 team members at present last year we turned over 530 000 pounds pretty impressive so this idea I remember first seeing it in San Francisco eight nine years ago yes in the UK there are other players in this space currently trying to do exactly this the other day I managed to get medicine at 3am in London on deliveroo so where does your business stand within that context I've seen the competitors in the US do it really well and it's a very similar model so I know it works other apps have tried this but they still require a relationship with that vendor we don't because we're the first ones with the prepaid card side it allows us to scale a lot faster than the other competitors out there in a crowded Market Zack and Aaron believe their use of prepaid card technology could give them a valuable Edge over the competition now telecom's Titan Peter Jones is Keen to discover more about how exactly the pair plan to profit from their app how does your model work because I'm assuming if I want to buy a set of nappies are you putting on a margin on top of those nappies for you or are you just charging me a delivery cost so we have a delivery fee one pound fifty for pickup and drop off and we also have a service fee of one pound per mile if I go on there and think do you know what my phone's just broken I want you to go pick me up a thousand pound phone I pay that through your site yep you're then crediting the driver with the prepayment and then it could take him an hour by the time he queues up or she queues up and then deliver it to me but I'm still within a two mile radius but you've now spent an hour and you've only charged me a fixed fee which doesn't even cover the cost of the person doing the collection and delivery how can you make money at that level we want to have our drivers placed at the stores already in the hot spots where they can access the widest variety of products for our customers but even in a specific location to get this to a scale that actually becomes exciting and you're going to have to throw a lot of cash at this and be prepared to lose money as you roll this out I agree yeah we've definitely taken that into account how much we estimate 15 million to roll out how much 15 million whoa the news of a multi-million pound roll out cost has set alarm belts ringing in the den remeden wants to pin down exactly what Zach and Aaron believe their business can really offer its potential customers guys do you really think you're a delivery service or do you think you're a shopping service great point we actually have coined the phrase of having us as your personal shopper that is the difference you know somebody is shopping for you however the reason that starts getting really complicated is when you're actually shopping for somebody you know can be standing at the till for hours product isn't there gotta go to another shop deliberate to me you've got the wrong product it's taken me hours it's you know it just feels like the customer service on this is going to be a nightmare I think you've developed a very very simple model and you've overlaid it with an awful lot of failure points or points that could fail and that makes it really hard for me to invest I'm sorry guys I won't be I'm out Zach and Aaron have lost their first dragon as Deborah meaden identifies potential issues with their chosen business model Tuka Suleiman meanwhile has been mulling over the implications of the pair's eight-digit funding requirements guys um a lot of companies raise a lot of money and they burn the money and say if only we could start again you're fortunate you're just beginning and I think you should lock yourselves away have a strategy day rethink the model The Proposal that you've come in with today for me is definitely not investable guys I'm out my big worry is if there was this much of an opportunity one of the incumbents in the Market at the moment would do it or one of the successful people executing this in the US would roll this out into Europe so I'm sorry I can't invest and I'm out looking at this as an investment opportunity is really really hard what you should have done if you want to move into this Market this should be shopforyou.com so that the consumer knows exactly what you're about this is about shopping for you you'll have to rethink this model really quickly but for an investor sitting here now this is definitely not an opportunity if I was to invest 50k I would expect that to go in the first week so I'm out four dragons down I remained does he believe that Zack and Aaron have devised the potential app of choice for home delivery devotees in Birmingham and Beyond how are you feeling following all of that feedback from my fellow dragons here I think all the feedback is good feedback it's been great for us I think because we're at our point where we're very agile and we can adapt and change that's really good to hear I think you're good guys the way you've presented today and your humility and self-awareness highly highly respectable and I really deeply hope that you don't walk out of here and then carry on with your plan to launch in the near town because right now you are running towards a blazing Inferno and I don't want to be burned I wish you the very very best but I'm gonna say that I'm out we will take it on board sadly for Zach and Aaron they must leave The Den with nothing other than advice no but even though they're heading down empty-handed loved it feedback learn a lot their mood going in the same direction we needed that you know multi-millionaires to look at this business and see the flaws it's a once in a lifetime opportunity to receive that feedback and I feel like we've got some really good ideas to go and think about last until the den a london-based Jewelers Kirsty McLaren and Katie Pell forever and it seems like some pre-pitched Jitters have set in oh we're a little bit nervous I'm terrified look at my funny trousers we're absolutely freaking out but in all honesty this is such an incredible opportunity [Music] biggest fish is obviously forgetting all of the key numbers but hopefully I'll keep them in my mind also in their minds are the dragons that the duo would most like to ensnare for us Sarah is up there she's queen of craft and we think that she can take us Big Time wouldn't you agree I would agree we've also got our eye on Debs we like that she's got her heart in the right place with business can't call her Debs oh my God oh my God [Music] hello dragons we're really excited to be here today this is Katie I'm Kirsty we're both Jewelers and together we created the workbench London today we're asking for 50 000 pounds of investment for a 10 share of our business in front of you you have one of a kind ring banking kits and the concept is simple designed and carved at home cast and Polished with us our rings are made using recycled solid silver and they're hand polished and cast in London and we're really excited to find the right Dragon to help us really grow the business and spread more Sparkle in front of you you should have some kits and some rings you've got your kits so we have given you a kit each this is to display the range of products that we offer sparkling mix of personality and passion from Jewelers Kirsty McLaren and Katie Pell Tuka you have got the silver ring workbench box who've come bearing gifts for all taish we've Chosen and this isn't a proposal yeah an 18 carat white gold wedding band they're asking for 50 000 pounds in exchange for a 10 share of their design it yourself ring business Peter you've got the Signet ring kit Sarah you've got the gemstone kit that allows you to have a sapphire Ruby or even a birthstone set into the ring that you design but will diamonds prove to be a dragon's best friend as the pair hone in on one of their favorite investors for the full Lowdown on how the kits work oh Deborah wait for it you've got a really good one um Deborah you have got the diamond box this allows you to have an ethically sourced Diamond set in your ring that you design and make at home what do I do am I so my am I sketching something on here I'm not trying to carve something in that so you have the online tutorials to show how you carve carving away little tiny chips of the jeweler's wax and you can only go very slowly because it is a hard plastic when you start off so you can't go wrong like oh my God right yeah yeah got it and so when you come to the end of your um carving you may end up with something like this a diamond shaped Signet that's what you send back to us so we prep the wax by making sure the wax is really beautiful and smooth and exactly how they want it we're masters of understanding someone's wax ring design and what they really want it to be and we can do little tweaks if we if they need it and then the Casting Company make a mold for the wax ring and offer a polishing service and you can choose gold plating and Engraving as well and that's gold-plated yeah we used to get all of the gold plating done out of the workshop in Hatton garden and they just charge such a lot of money and so we bought a plating machine ourselves and since then we've worked it out that that is a really good bit of extra that we get on there um yeah and people seem to like it yeah Kirsty and Katie confidently explained their concept to a smitten Deborah meaden and reveal a business gem in the shape of investment in a cost-cutting plating machine Tuka Suleiman now wants to see if the jeweler's books are as bling as their rings let's just talk just talk about numbers yeah yeah you've got evaluation of a half a million pounds so let's get these big numbers what are they ladies okay in 2018 we had a turnover of 129 000 pounds with a net profit of 67 000 pounds in 2019 we had a turnover of 137 000 pounds with a net profit of 70 000 pounds and in 2020 we made 150 000 with a net profit of 97 000 pounds or gross profit net profit what was your gross profit in that yeah well I know that our profit margin was about 60 no it's higher it's now 72. oh God oh we do have that we do have this information but I know this isn't helpful now um so what was the numbers again so it was 150 with 97. I just said that middle number no is it 40 something no it's higher than that um I can tell you uh the rough sort of margin is 72 on our best-selling kit so that must be your gross profit 97 so you can't possibly have made that net profit okay yeah okay oh um because net profit is after you've taken all your expenses your salaries your overheads your rent have you factored that into the 97 000 or no is the net profit isn't it yeah the entrepreneur's uncertainty over the fundamentals of their finances leaves the dragons struggling to work out what profits the pair are producing Kirsty and Katie's apparent poor preparation appears to have ruffled the feathers of Peter Jones this is really lovely and it comes out really well but at the moment I'm I'm surprised you've even got here because your numbers are appalling yeah and that's what really concerns accountant sorry no but look it's not okay actually yeah for investment and if you want money you really worry me immediately because you're all over the place with your numbers so we really need to get to the bottom of those numbers yeah okay so what's your value of your current stock so I guess I think in the workshop it's about five thousand pounds yeah and then 26 in the bank so you've got 31 000 you've got any other assets no yes you have can I answer I've got a gold plating machine yeah yeah yeah yeah yeah yeah yeah sure so how much did you pay for the machine it's about 1 500 and we've got polishing machines and how much were they 420 pounds and we've got two of those two that's another 800 so that's 33 500. yeah so what's happened to the 90 000 profit you've made what have you done with it he has fat and attacks and things it could be like travel as well because there's lots of travel involved as lots of travels you travel by private jet no so you think that you've been making 90 000 this year and 70 000 last year but you've only managed to accumulate 33 000 pounds worth of net assets then you're probably only making five or ten thousand a year to Jones's dissection of the company's balance sheet sheds no light on the jeweler's gross net conundrum and it appears tej lauvani has heard enough [Music] the problem is as an investor where you're valuing your business at almost half a million pounds at one end it could be 97 000 pound profit or you could be ten thousand pound profit so it you know you should have done your homework to basically understand where your net profit is because as an investor to make a decision I need to know how healthy your financials are so give shot yourself as a foot um so unfortunately I can't invest I'm out the entrepreneurs feeble grip on their company finances leads to the loss of their first dragon and it seems that Tuka Suleiman is not far behind you've come in here and it was very I was very enthusiastic with a product I was very enthusiastic we've got energy and all of a sudden the whole business side just collapsed around you so for that reason that I'm not gonna invest them out I Katie and Kirsty your presentation high-spirited clearly it's great but I think you've entered an environment you need some real tough love because you know it looks okay what you've done but you've completely messed up hmm so sadly I'm out you have absolutely lost me on the business front um listen you could see I loved it but this is so disappointing yeah because like toasters I don't know how you value a business if we have no idea yeah unless there's a gut feeling and and Sarah to my right is in the position to understand the gut feeling so I'm going to listen to Sarah okay the Duo's pitch hangs by a thread as Deborah meaden defers to the Craft Space supremacy of Sarah Davies does she see the prospect as a potential gold mine or will the Jewelers be thrown on the scrappy I'm trying to piece together the bits of what you've told us and I'm assuming the figures you quoted us were gross profit not net profit okay so you had 137 000 sales last year but you'll have had a lot of expenses in paying for things like your rent or your travel so for all you've made 70 gross profit you've probably made very little net profit I could understand that yeah can't understand why you haven't made an awful lot more money this well you might have done because you've got to the end of the year and you've got 30 Grand in the bank haven't you yeah yeah okay I think I've got a pretty good picture of the business with all due respect I think I've probably got a better picture of your business now than what years boss um but I think it's an exceptional product think you're both very very creative I think you haven't got a business born between you and and if I was to invest in this business today I'm pretty sure I'd need to run your business for you okay so here is that I'd be prepared to make you right now today I would give you the 50 000 that you need but in return I would want 45 of my business which gives me a majority share to get the business into some form of shape as a business once I get my money back I will reduce to a 30 stake which leaves you with 35 each and I think that's fair yeah based on the work I'm gonna have to run this business for you thank you thank you very much for your offer thank you against the Run of play the entrepreneurs secure an offer from one of their desired dragons Zara Davis Deborah meaden the pairs other preferred potential partner cunningly waited for the dens craft queen to make her move will she be willing to undercut her counterpart so the bits you've got absolutely right today is you look like your product you present really well I get your energy you've got ever so slightly deflated in the middle there but I I really like it the issue I have is the time that you're going to need in terms of running the business I'm afraid that's what's put me off so you won't be getting an offer from me okay I'm out Deborah meaden declines the deal making Sarah Davies bid the only offer on the table all right do we need to chat shall we chat yeah just because it's traditional because we're here and like you can see the trousers and they didn't know if we'd get this opportunity oh the dragons demand for 45 dropping down to 30 when she receives her money back is a decision that deserves some in-depth discussion but that was a bit quick basically we just went we just went yes yes yes just to make sure that we were definitely on the same page which we normally are yes please good decision thank you Kirsty and Katie leave The Den with the 50 000 pounds they came for Wow and the dragon they designed who can help to ensure the duo have all the Hallmarks for Success oh my God my God and she is gonna whip us into shape I am under No Illusion that they are going to drive me round the bend but honestly that is going to be a big money maker to celebrate something fizzy will definitely be involved and maybe an Excel spreadsheet because we've got some work to do london-based fish and chip shop owner rashpal Dylan is here with her two sons arminder and gaminda if we pull it off the rewards will be amazing hi I'm gaminda hi I'm arminder hi I'm Rush Paul we're the boot buddy we're here today pitching for 60 000 pounds in return for 10 equity in our company so here in my hands I have the homemade prototype of the boot buddy the idea came one day after football training when I decided there had to be an easier way to clean my muddy football boots so when I got home that day I fiddled about with some items we had the first being a brush the second being a plastic water bottle and the third being a plastic knife when I stuck these three items together we had a prototype which sort of worked now we have our own proper boot body in one compact portable gadget okay so the scraper here is to take up all the big chunks of mud so what you do is you unscrew it you fill up the water take the boot body with you wherever you might be going whether it's a football walking the dog or playing golf then when you wish to use it unlock the head and then that's it away you go so as you can see here what you have is a really simple and easy method of cleaning your boots in seconds right today we turned over 100 000 pounds in the last year and we sold six and a half thousand units thank you for your time and I hope together we can leave the outdoors outside hoping to clean up in the den are the Dylan family who are asking for sixty thousand pounds in return for a 10 stake in their company boot buddy how are you finding it Nick therapeutic surprising how little water goes a long way so you can maximize cleaning product demonstration over and it's time for its 15 year old inventor to leave his mother and older brother to face the dragon's questions you've turned up a hundred thousand pounds yes what is the retail price they sell for 12 pounds 99 okay it costs costs right now it's about seven pounds seven pounds yeah I have to say until you said that you've sold a hundred thousand pounds worth of product um I was a little bit in shock because it is just a a water bottle with a brush on the end the product works it does exactly what it says it is going to do and you know we'd get mums emailing us all the time saying look our kids never used to clean their boots my husband's never used to clean their boots and now they do because they've got a cool fun Gadget but as you can see when you're cleaning the boot you run out pretty quickly and you'd have to refill to do your second boot I think that that is a design fault and I didn't want to say it in front of arminda because the last thing I want to do is not praise and encourage clearly a young entrepreneur in the making but my biggest issue is the fact you've got to continue to refill it what's the structure I mean you're working out of home yeah we are we work out of our home office everything is done from there right um it had the distribution as well is out of the basement of one of our shops so what's your real business fish and chips fish and chips oh I love fish and chips yeah but I've got my own business what is your business again it's just fast food fast food what's what chicken chicken and what's your share structure I mean who owns the business well obviously mum's the boss she put the money in so mum's got 60 and uh everybody else has 10 percent right and how much did Mom to put in um total just below 250 000. how much sorry 250 000 pounds yes wow um oh wow good there's a lot of fish and chips you must have sold disbelief across the board as the Revelation that the boot product has already been funded to the tune of a quarter of a million pounds leaves the dragons reeling serial investor Nick Jenkins wants answers she spent it on uh tooling the tooling cost for something like that just below 40 000. yeah the intellectual property below 150. sorry did you say you spend 150 000 pounds on the intellectual property below just below the designs registered in 22 countries yeah that's an enormous amount of money to have spent on something quite simple enormous uh I just understand why so much you thought it it was the best thing to do I think you could have done it for a hell of a lot less a fraction to that that money you put in is it a loan or what yeah it's a director's loan so basically the company owes you the money yeah but it's not like that it's interest or I'm not in a rush for it you know it's I don't I don't want to stifle the growth of their company are you in the position to look in a bigger picture and say I'd wave my director's loan on the basis that by bringing their dragon on board I might get some actual dividends back if it helps the company move forward and it's the right decision then yes rash Pals calm demeanor and a suggestion that she might wave the quarter of a million pound loan has raised a few Dragon eyebrows can she snatch Victory from the jaws of defeat when it gets the point that most of the people playing football would need to buy this in order for this investment to break even it's a bit frightening to make any sense of this as an investment you would have to sell more than I believe that you can sell in this market um so for that reason I'm out guys I'm going to tell you where I am um I've got a house full of muddy boots and I'm still I'm still using the outdoor tap and the scrubbing brush I I just don't think I'd use it you know and I'm a mum's surrounded by muddy boots so I'm I'm gonna say no but we really wish you all the best so good luck but I'm afraid I'm out a second dragon brush off for the battersea-based entrepreneurs now the chips are down where does Tuka Suleiman stand it leaves a lot it needs um to be focused to sell it somebody who's got the contacts somebody can run the website somebody who can give you some offices to work out of tell you what I'm gonna do I'm willing to give you all the money but I want the 35 percent I like an awful lot about it I like the story that it was invented by your son and I think you're a very very supportive mum thank you I think you've done an amazing job and I I think it's a it's a good product what's holding me back is that it's just not an area that I love [Applause] you know I'm not into football I can always feel I can stand up and proudly shout about the brands I'm involved with because I feel it I just don't think I'm the right fit for you you know and that I suspect you're going to get a better fit here which is kind of a shame because I'd love to be involved with it but I don't think I'm going to do the best job for you it's not just football that we can restrict it to that's the beauty of it we keep the same like design and just change the bristles very easily anyone can actually use this product and it's easy dog walkers Golf and also the people who work on building sites tarmac you know if you change the bristles make them harder you know so anybody with muddy boots um she's persuasive your mother isn't she [Music] well I don't normally do this because 60 000 isn't a huge ask you know often I'll sit here and say but it's 60 000 pounds I want it on my own but I'm not offering the full package but I would I would love to be involved so I'm going to offer you half of the money and I would want [Music] 12 and a half percent of the business but what I would say is that I'd rather we parked your money we didn't write it off so it said look when we've got our money out or there was an exit but it still sat there because it's the thing it's the thing that got the business off the ground with offers on the table from Two casulliman and Deborah meaden the booth buddy has found some Dragon friends in the den will seeing his fellow dragons make bids incentivize Peter Jones to enter the mix do you know what's really interesting is I can absolutely see tens of thousands of these being sold if you can find a way to get that manufacturing cost at a level I could see this being sold almost with every pair every pair of boots that sold Tuka and Deborah have both given you an offer and in my head interdictably I would normally think I'm going to go and compete with them I'm actually sitting here thinking I wonder whether Three Dragons could give this exactly what this needs with my contacts into some of the sports places you know making use of Tuka he's been trying to for for almost a year now to give away his office in any investment and it will be it actually made me happy to be part of that that I would see somebody use his office for once I think that this has a real chance of success but do what Deborah suggests you keep your quarter of a million because I think it's really important that you get your money back I agree with that now so I will offer you twenty thousand pounds for 10 percent if the other dragons agreed but you get three dragons I I would I would certainly yeah I I'd like to do that okay the three of us will make a fantastic team do you want to go and think about that and have a chat whilst armander nervously Waits outside his mum and brother have a huge decision to make Peter Jones Tuka Suleiman and Deborah meaden are each offering twenty thousand pounds for 10 of the business but giving away nearly a third of their company in total three times what they were offering when they entered the den is a big ask for the entrepreneurs yes it's mum's the boss no I'm um yeah if we we would love to work with all three of you oh great three is my favorite number anyway so thank you is that your lucky number is my lucky number well done fantastic oh okay do you think mum made the right decision it's been a remarkable turnaround a shock revelation of rash Pals 250 000 pound investment into the company to the dragons agreeing that it would eventually be paid back the Dylan Clan leave The Den with a dragon Dream Team on board that's intense there's no words that can explain what I'm feeling it's amazing just have one Dragon but to have three is just overwhelming

Channel: Dragons' Den

Views: 123,739

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, sarah willingham, pyramid scheme, shark tank full pitches, dragons' den full episode, dragons den, dragons den 2022, dragons den worst pitches, sidemen dragons den, dragons den full episode, dragons den best pitch, young entrepreneurs, duncan bannatyne, jenny campbell, compilation, top 5

Id: yG0NN4QvOXo

Length: 60min 53sec (3653 seconds)

Published: Sat May 20 2023