1 00:00:02,640 --> 00:00:05,479 The doors to the Den are open for business. 2 00:00:05,480 --> 00:00:10,280 The place where fortunes are made and futures are forged. 3 00:00:11,720 --> 00:00:14,759 But this time, the game has changed. 4 00:00:14,760 --> 00:00:17,519 A fresh wave of fierce investors 5 00:00:17,520 --> 00:00:21,120 are out to shake things up and steal the deals. 6 00:00:22,560 --> 00:00:24,639 - Joining them tonight... - I'm Jenna Meek. 7 00:00:24,640 --> 00:00:26,999 I'm a serial entrepreneur. 8 00:00:27,000 --> 00:00:29,919 I'm currently the co-founder and CEO of Refy beauty. 9 00:00:29,920 --> 00:00:33,119 - Jenna, welcome back to the Den. - No, thank you for having me back. 10 00:00:33,120 --> 00:00:34,879 I'm excited for today. 11 00:00:34,880 --> 00:00:36,639 When I look into the eyes of an entrepreneur, 12 00:00:36,640 --> 00:00:39,039 there is literally one thing I'm looking for. 13 00:00:39,040 --> 00:00:41,959 It's their belief that their idea is going to succeed. 14 00:00:41,960 --> 00:00:44,519 I can see in people's eyes if they're lying to me. 15 00:00:44,520 --> 00:00:46,359 I know exactly what I can bring to a business. 16 00:00:46,360 --> 00:00:48,279 So if there's a fight for an investment, 17 00:00:48,280 --> 00:00:50,399 I will be absolutely fighting for it. 18 00:00:50,400 --> 00:00:52,999 I love disagreeing with the Dragons, I really, really do. 19 00:00:53,000 --> 00:00:54,839 I am not scared of any of the Dragons. 20 00:00:54,840 --> 00:00:57,280 If anything, they should be scared of me. 21 00:00:59,040 --> 00:01:00,760 SHE LAUGHS 22 00:01:08,080 --> 00:01:11,799 My name is Laura, and I'm from Northern Ireland. 23 00:01:11,800 --> 00:01:14,439 My business is all about oats. 24 00:01:14,440 --> 00:01:15,959 SHE LAUGHS 25 00:01:15,960 --> 00:01:18,679 - Instant oats? - Ready-made oats? 26 00:01:18,680 --> 00:01:23,880 Yeah, but they're kind of... they don't exist, you know. 27 00:01:26,360 --> 00:01:28,199 So the Dragon I'm looking 28 00:01:28,200 --> 00:01:31,559 for investment from would be Steven Bartlett. 29 00:01:31,560 --> 00:01:34,719 He would be really helpful with building that community brand, 30 00:01:34,720 --> 00:01:37,080 which is what we aim to do at OatCo. 31 00:01:50,320 --> 00:01:51,799 Hello, Dragons. 32 00:01:51,800 --> 00:01:56,319 My name's Laura, and I'm the founder of OatCo Superfuel. 33 00:01:56,320 --> 00:01:58,759 Today, I'm here to seek an investment of £50,000 34 00:01:58,760 --> 00:02:02,360 in return for a 5% share of my business. 35 00:02:03,560 --> 00:02:06,279 Leading an active lifestyle, and being a busy mum, 36 00:02:06,280 --> 00:02:08,079 I found myself seeking nutritious, 37 00:02:08,080 --> 00:02:10,599 convenient solutions and I was disappointed 38 00:02:10,600 --> 00:02:12,959 as to what was available on shelves. 39 00:02:12,960 --> 00:02:16,719 This sparked the passion in me to create OatCo Superfuel. 40 00:02:16,720 --> 00:02:19,199 Currently in our range, we have our just-add-milk 41 00:02:19,200 --> 00:02:23,599 Overnight Oat pouches, our ready-to-eat Overnight Oats, 42 00:02:23,600 --> 00:02:27,359 and our small bites with big energy, Super Bites. 43 00:02:27,360 --> 00:02:30,239 And at OatCo, we aim to fuel the everyday, 44 00:02:30,240 --> 00:02:31,759 whether it's a school run, 45 00:02:31,760 --> 00:02:33,840 a busy day in the office, or a gym workout. 46 00:02:34,800 --> 00:02:37,879 We are currently delivering to a strong community of customers 47 00:02:37,880 --> 00:02:40,119 through our Shopify website nationwide, 48 00:02:40,120 --> 00:02:43,919 as well as being stocked in over 150 retail stores, 49 00:02:43,920 --> 00:02:45,039 and in the past seven months, 50 00:02:45,040 --> 00:02:47,759 we did 200K in sales, with a 60% 51 00:02:47,760 --> 00:02:51,280 gross margin and 28,000 in net profit. 52 00:02:52,480 --> 00:02:55,919 Currently, the market is more protein-focused, 53 00:02:55,920 --> 00:02:57,999 but we aim to disrupt the food-to-go market 54 00:02:58,000 --> 00:03:00,999 with natural energy that oats can provide. 55 00:03:01,000 --> 00:03:03,479 And we've got balls. Excuse the pun. 56 00:03:03,480 --> 00:03:05,119 SHE CHUCKLES 57 00:03:05,120 --> 00:03:07,719 Now, I've got some samples of our just-add-milk pouches 58 00:03:07,720 --> 00:03:10,039 for you to try, and I'd love for you to try them. 59 00:03:10,040 --> 00:03:11,160 - Thank you. - Thank you. 60 00:03:13,720 --> 00:03:18,039 A range of oat-based food products is the offering from Laura Murphy. 61 00:03:18,040 --> 00:03:20,439 I'll take one of those. What's that one - vanilla? 62 00:03:20,440 --> 00:03:22,879 - That's the vanilla chocolate chip, yeah. - Thank you. 63 00:03:22,880 --> 00:03:25,679 She's asking for £50,000 in exchange 64 00:03:25,680 --> 00:03:29,039 for a 5% stake in her business. 65 00:03:29,040 --> 00:03:31,279 How much protein is in your original? 66 00:03:31,280 --> 00:03:33,559 So we're around 6g, so it's just the natural energy. 67 00:03:33,560 --> 00:03:35,639 Natural energy, yeah. 68 00:03:35,640 --> 00:03:38,999 However, the other three, we've added plant-based protein. 69 00:03:39,000 --> 00:03:42,879 Laura claims her oats stand out from the crowd. 70 00:03:42,880 --> 00:03:44,599 You will notice under your chairs as well 71 00:03:44,600 --> 00:03:46,679 there's also some other products. 72 00:03:46,680 --> 00:03:50,039 But in a sector packed with healthy promises, 73 00:03:50,040 --> 00:03:53,799 Peter Jones is keen to know what makes this offering 74 00:03:53,800 --> 00:03:56,280 more than just a mouthful of marketing. 75 00:04:00,120 --> 00:04:03,359 - Laura, hi. - Hello. 76 00:04:03,360 --> 00:04:09,159 So it's basically oats with bits in it to give you a super fuel, 77 00:04:09,160 --> 00:04:12,559 is it? Was it just protein, or...? 78 00:04:12,560 --> 00:04:17,639 - No. - So give me the... contents. - So we aim to be different. 79 00:04:17,640 --> 00:04:21,519 So how we feel at the moment is everything is protein-led. 80 00:04:21,520 --> 00:04:25,879 However, we want to focus on the natural energy from the oats. 81 00:04:25,880 --> 00:04:28,919 OK. And in what way is this different? 82 00:04:28,920 --> 00:04:32,879 - Is anybody else doing this? - So I suppose it's difficult to say, 83 00:04:32,880 --> 00:04:34,639 because we have three different products. 84 00:04:34,640 --> 00:04:36,759 So there is three different competitors 85 00:04:36,760 --> 00:04:39,919 depending on which one we look at in particular. 86 00:04:39,920 --> 00:04:41,799 In terms of the pouch product, 87 00:04:41,800 --> 00:04:44,959 our point of difference is you actually prepare that 88 00:04:44,960 --> 00:04:47,199 in the pouch. You can reseal, 89 00:04:47,200 --> 00:04:49,039 - take it with you. - Right, OK. 90 00:04:49,040 --> 00:04:53,360 - So that is the USP of the pouch product alone. - OK. 91 00:04:54,360 --> 00:04:58,119 - Laura. - Yeah? - Your balls are absolutely banging. 92 00:04:58,120 --> 00:05:01,719 - Thank you. - When something tastes that good, 93 00:05:01,720 --> 00:05:05,759 - I worry that it's not good for my health. - Yeah. 94 00:05:05,760 --> 00:05:08,719 And I was looking at the nutritional information on this packet, 95 00:05:08,720 --> 00:05:11,399 but also on the balls as well. 96 00:05:11,400 --> 00:05:14,119 Are those the best balls you've ever had? 97 00:05:14,120 --> 00:05:15,999 That is so good. STEVEN LAUGHS 98 00:05:16,000 --> 00:05:18,199 -It's really good. - Thank you so much. 99 00:05:18,200 --> 00:05:20,439 Like you say, that's such a good point, it's got to be bad for you. 100 00:05:20,440 --> 00:05:23,079 - - Yeah! - Well, some of the flavours are slightly more 101 00:05:23,080 --> 00:05:26,439 on the indulgent side, but we're mindful of that, 102 00:05:26,440 --> 00:05:29,679 and we're trying to appeal to that target consumer 103 00:05:29,680 --> 00:05:33,759 that still wants it to taste good but is mindful of their health. 104 00:05:33,760 --> 00:05:37,999 {\an8}On the balls, it says there's, what, 20g of sugar per 100g? 105 00:05:38,000 --> 00:05:40,879 Yeah. It is something we're definitely mindful about, 106 00:05:40,880 --> 00:05:44,639 and we've had conversations recently on how we can improve. 107 00:05:44,640 --> 00:05:48,799 And in our new product development, we are taking that onboard and 100% 108 00:05:48,800 --> 00:05:53,079 - trying to make them as well-rounded as possible. - OK. 109 00:05:53,080 --> 00:05:57,399 Laura, hi. Got to tell you, yes, they're high-sugar, 110 00:05:57,400 --> 00:05:58,999 but they're delicious. 111 00:05:59,000 --> 00:06:03,319 - Thank you so much. - So how much are they selling for? 112 00:06:03,320 --> 00:06:07,919 The pot you're holding retails for 3.79. 113 00:06:07,920 --> 00:06:10,839 OK. And I've seen the Overnight Oats in tubs, 114 00:06:10,840 --> 00:06:12,839 but I don't think I've seen 115 00:06:12,840 --> 00:06:15,119 {\an8}- this on top. Is that your selling point? - That's our USP. 116 00:06:15,120 --> 00:06:16,959 - Yeah, OK, so that makes it quite unique. - Yeah. 117 00:06:16,960 --> 00:06:22,359 - But if I was buying a sort of standard Overnight Oat... - Yeah. 118 00:06:22,360 --> 00:06:25,079 ...what would that cost me? 119 00:06:25,080 --> 00:06:27,679 They would retail probably around the 2.99, £3 mark. 120 00:06:27,680 --> 00:06:31,399 OK. And what about your retail, as you've got around 150 stores - 121 00:06:31,400 --> 00:06:32,759 who are they? 122 00:06:32,760 --> 00:06:36,319 So we're mainly direct-to-store, and it's a mix of Spar, Centra, 123 00:06:36,320 --> 00:06:39,519 Applegreen is a big customer to us, 124 00:06:39,520 --> 00:06:41,959 all based in Northern Ireland. And this week, 125 00:06:41,960 --> 00:06:45,039 we're actually launching into Tesco as well, our first... 126 00:06:45,040 --> 00:06:47,479 - Tesco Northern Ireland, or...? - Tesco Northern Ireland. 127 00:06:47,480 --> 00:06:51,799 OK. And do you have any stores in the rest of the UK? 128 00:06:51,800 --> 00:06:54,520 - Not as of yet. - OK. Thank you. 129 00:06:56,760 --> 00:07:00,759 - Laura, hi. - Hello. - I'm probably as your customer here, 130 00:07:00,760 --> 00:07:02,759 and I think that's what makes me quite different 131 00:07:02,760 --> 00:07:04,759 to the rest of the Dragons, because I'm not super-educated 132 00:07:04,760 --> 00:07:08,919 around kind of what I need to put into my body. Like, I look at these 133 00:07:08,920 --> 00:07:11,559 packaging, and the first thing I look at is calories, cos that's 134 00:07:11,560 --> 00:07:13,999 the world I've been brought up in. I don't understand the rest. 135 00:07:14,000 --> 00:07:18,079 So, as a customer, explain to me why I need your product. 136 00:07:18,080 --> 00:07:20,959 So it's something substantial that you can eat. 137 00:07:20,960 --> 00:07:24,159 And I eat it every morning. And being a busy mum as well, 138 00:07:24,160 --> 00:07:27,279 like, it keeps me going throughout the day. 139 00:07:27,280 --> 00:07:29,879 OK. And then, what is it you're looking 140 00:07:29,880 --> 00:07:32,759 for in a Dragon to help with this business? 141 00:07:32,760 --> 00:07:37,119 Yeah, so, like, I want OatCo to be a household name in many regions, 142 00:07:37,120 --> 00:07:39,319 particularly in the UK and Ireland. 143 00:07:39,320 --> 00:07:41,439 And I think with a Dragon onboard, 144 00:07:41,440 --> 00:07:44,959 it gives me that platform to help achieve that. 145 00:07:44,960 --> 00:07:49,319 - OK. - I'm going to tell you where I am. 146 00:07:49,320 --> 00:07:51,639 - I mean, oats are a superfood. - Yeah. 147 00:07:51,640 --> 00:07:54,239 They're incredibly good for your heart. 148 00:07:54,240 --> 00:07:57,759 - Yeah. - You know, control your cholesterol levels. - Yeah. 149 00:07:57,760 --> 00:08:01,719 So I think the oats story is very, very strong. 150 00:08:01,720 --> 00:08:04,159 And I tell you what, you've done really well. 151 00:08:04,160 --> 00:08:06,559 This is, like, one of the most hotly contested markets. 152 00:08:06,560 --> 00:08:08,519 If you go in anywhere, there are loads 153 00:08:08,520 --> 00:08:11,319 - of blinking protein balls... - Yeah. - ...and energy balls. 154 00:08:11,320 --> 00:08:17,599 So to actually stand out in that, and that is absolutely delicious. 155 00:08:17,600 --> 00:08:19,919 - Too delicious. - Scarily delicious. Exactly, 156 00:08:19,920 --> 00:08:23,519 In fact, I meant to have just one little nibble. 157 00:08:23,520 --> 00:08:25,159 I've been back in three times. 158 00:08:25,160 --> 00:08:26,920 STEVEN CHUCKLES 159 00:08:27,840 --> 00:08:32,759 So, so much to like about this business. 160 00:08:32,760 --> 00:08:35,200 But there's a problem, and it's the sugar. 161 00:08:37,360 --> 00:08:38,879 OK. 162 00:08:38,880 --> 00:08:43,559 I wouldn't eat that because of the high content. 163 00:08:43,560 --> 00:08:45,799 - Yeah. - Now, I know I'm purist, 164 00:08:45,800 --> 00:08:50,599 but the direction of travel is against sugar. 165 00:08:50,600 --> 00:08:53,639 - So I'm really sorry, I won't be investing. - No problem. 166 00:08:53,640 --> 00:08:56,640 And I AM really sorry I won't be investing, but I'm out. 167 00:09:00,960 --> 00:09:04,919 Laura, you are fantastic. 168 00:09:04,920 --> 00:09:07,359 But this is just a market that 169 00:09:07,360 --> 00:09:10,839 I'm just not happy to invest in at the moment. 170 00:09:10,840 --> 00:09:12,719 I think it's hyper-competitive. 171 00:09:12,720 --> 00:09:14,959 and you're going to struggle with this at the moment, 172 00:09:14,960 --> 00:09:16,560 so I'm going to say that I'm out. 173 00:09:20,800 --> 00:09:24,399 Laura, I'll tell you where I'm at. I think you're amazing, 174 00:09:24,400 --> 00:09:26,399 you're so investable. 175 00:09:26,400 --> 00:09:28,799 There's a lot of work to do with actually defining 176 00:09:28,800 --> 00:09:31,919 the purpose and that kind of vision. Like, I know you want to own 177 00:09:31,920 --> 00:09:34,479 the natural energy market, but that's not a brand purpose. 178 00:09:34,480 --> 00:09:36,239 - That's just... I'm like, Why? - Why? 179 00:09:36,240 --> 00:09:39,319 Like, I still need to understand why. What is natural energy? 180 00:09:39,320 --> 00:09:42,999 Why do I need it? And I think that needs to be laser-focused. 181 00:09:43,000 --> 00:09:45,119 And I feel like I could offer 182 00:09:45,120 --> 00:09:47,839 so much help in terms of that - in terms of the branding, 183 00:09:47,840 --> 00:09:51,199 in terms of the lifestyle, in terms of the persona. 184 00:09:51,200 --> 00:09:52,799 But I don't know the food market, 185 00:09:52,800 --> 00:09:56,320 and that's just me being completely transparent at all. 186 00:09:58,480 --> 00:10:02,799 So I am going to make you an offer, 187 00:10:02,800 --> 00:10:05,439 but it's a bit of a wild card 188 00:10:05,440 --> 00:10:07,879 because there isn't any other offers yet. 189 00:10:07,880 --> 00:10:12,319 You asked for £50,000 for 5%. 190 00:10:12,320 --> 00:10:16,519 I'll offer you half of the money for 7.5%. 191 00:10:16,520 --> 00:10:19,199 But I'd want to share with someone else that actually understands 192 00:10:19,200 --> 00:10:21,839 the food market, because I know what I can bring. 193 00:10:21,840 --> 00:10:24,359 - It's fantastic... - Yeah. - ...and you're a fantastic entrepreneur. 194 00:10:24,360 --> 00:10:26,119 Once you get the branding spot-on, 195 00:10:26,120 --> 00:10:27,839 we can make it a cool on-trend product, 196 00:10:27,840 --> 00:10:30,439 we can get the persona perfect, but I want 197 00:10:30,440 --> 00:10:33,959 - that help on the other side of the retail side as well. - Perfect. 198 00:10:33,960 --> 00:10:35,000 Thank you very much. 199 00:10:39,120 --> 00:10:42,519 Laura... 200 00:10:42,520 --> 00:10:45,200 - ...I know retail. - Mm-hm. - Yeah? - Yeah. 201 00:10:48,240 --> 00:10:52,240 And I do like what you've presented today. 202 00:10:54,080 --> 00:10:57,319 So I will also offer you half the money, 203 00:10:57,320 --> 00:11:01,000 that's 25,000 for 7.5%, if Jenna wants to share. 204 00:11:02,360 --> 00:11:04,520 Thank you very much. 205 00:11:07,040 --> 00:11:12,879 Laura, I am such a big fan of you. 206 00:11:12,880 --> 00:11:15,399 - Thank you. - I have quite a lot 207 00:11:15,400 --> 00:11:20,079 of experience now in this industry, 208 00:11:20,080 --> 00:11:22,879 have a brand that came into the Den that's making tens of millions now 209 00:11:22,880 --> 00:11:24,559 in just a couple of years from retail. 210 00:11:24,560 --> 00:11:26,799 And, actually, one of the most useful things I could do 211 00:11:26,800 --> 00:11:31,159 is to sit you in a room with one of the investments 212 00:11:31,160 --> 00:11:35,479 I've made who exploded in the UK market, 213 00:11:35,480 --> 00:11:40,239 - and really understand how they did that. - Yes. 214 00:11:40,240 --> 00:11:44,839 So I'm going to make you an offer, cos I think you're fantastic. 215 00:11:44,840 --> 00:11:49,240 I'll offer you all of the money for, erm... 216 00:11:55,440 --> 00:11:58,520 ...17.5% of the business. 217 00:12:00,640 --> 00:12:02,000 Thank you very much. 218 00:12:04,640 --> 00:12:07,399 So thank you so much, firstly, 219 00:12:07,400 --> 00:12:09,639 for all of the offers, it means a lot. 220 00:12:09,640 --> 00:12:12,919 So I suppose just, Steven, I did 221 00:12:12,920 --> 00:12:15,720 have a cap of 15% in my head. 222 00:12:16,960 --> 00:12:21,719 So I suppose if you had the money paid back within 223 00:12:21,720 --> 00:12:26,839 sort of a two-year period, would you drop to 10%? 224 00:12:26,840 --> 00:12:28,960 To 10%? 225 00:12:32,920 --> 00:12:35,479 Considering I came in for 5%. 226 00:12:35,480 --> 00:12:38,159 SHE CHUCKLES 227 00:12:38,160 --> 00:12:41,959 I'm not the biggest fan in the world of the deals 228 00:12:41,960 --> 00:12:44,839 that drop because it's almost like punishment for success, 229 00:12:44,840 --> 00:12:47,959 - in a weird way. - I suppose 15% 230 00:12:47,960 --> 00:12:50,159 is what I said was my cap, and that's what I'm struggling with. 231 00:12:50,160 --> 00:12:51,480 OK. 232 00:12:55,080 --> 00:12:58,759 - I'll do 15%. - You'll do 15? 233 00:12:58,760 --> 00:13:01,159 I'll do 15%. 234 00:13:01,160 --> 00:13:03,279 - Well, I'd love to accept your offer. - Let's do it. - Thank you. 235 00:13:03,280 --> 00:13:05,679 - - Thank you. - Thank you so much. 236 00:13:05,680 --> 00:13:08,119 - Well done. - Thank you. - And we're dressed the same as well... - I know. 237 00:13:08,120 --> 00:13:10,519 THEY LAUGH 238 00:13:10,520 --> 00:13:12,119 Thank you so much, I can't wait to work with you. 239 00:13:12,120 --> 00:13:15,079 - Thank you. See you soon. Bye. - Victory for Laura. 240 00:13:15,080 --> 00:13:20,560 After tough negotiations, she secures Steven Bartlett's backing. 241 00:13:21,920 --> 00:13:25,160 Her oat empire is officially expanding. 242 00:13:28,240 --> 00:13:30,239 Breathe. SHE CHUCKLES 243 00:13:30,240 --> 00:13:31,479 I'm still catching my breath. 244 00:13:31,480 --> 00:13:32,999 SHE EXHALES 245 00:13:33,000 --> 00:13:35,919 Amazing. I couldn't have asked for it to go better, really. 246 00:13:35,920 --> 00:13:37,919 I'm delighted. 247 00:13:37,920 --> 00:13:39,919 - That's a great entrepreneur to invest in. - Yeah. 248 00:13:39,920 --> 00:13:41,559 - She was so good. - So good. 249 00:13:41,560 --> 00:13:43,759 -So, so good. - Excellent. 250 00:13:43,760 --> 00:13:46,039 And it is serendipitous. You did look the same. 251 00:13:46,040 --> 00:13:47,920 Yeah! 252 00:14:02,200 --> 00:14:04,240 Pretty intimidating photographs. 253 00:14:06,560 --> 00:14:11,359 My name is John O'Donnell and I'm joined today with my son, Jamie, 254 00:14:11,360 --> 00:14:13,360 and we've created Screw Caddy. 255 00:14:14,960 --> 00:14:16,040 DIY? 256 00:14:18,000 --> 00:14:20,119 Definitely DIY. 257 00:14:20,120 --> 00:14:22,959 I could do with a few more DIY things. 258 00:14:22,960 --> 00:14:25,839 - What have you got, Peter? - I've got a tool kit. 259 00:14:25,840 --> 00:14:27,559 You've got a tool kit? 260 00:14:27,560 --> 00:14:30,479 What's the last DIY you did, Peter? 261 00:14:30,480 --> 00:14:32,080 I think I've hung a picture up! 262 00:14:34,920 --> 00:14:38,719 I believe Deborah would show the most interest in our product, 263 00:14:38,720 --> 00:14:40,319 just in the sector that it's in, 264 00:14:40,320 --> 00:14:42,719 I feel like it would perk her interest the most, 265 00:14:42,720 --> 00:14:45,000 so I'm definitely confident and ready to go. 266 00:14:53,560 --> 00:14:56,439 Hi, Dragons! My name is John O'Donnell 267 00:14:56,440 --> 00:14:58,959 and I'm joined today with my son, Jamie, 268 00:14:58,960 --> 00:15:04,559 and we form part of the family team who created Screw Caddy. 269 00:15:04,560 --> 00:15:07,959 Today we are looking for a £50,000 investment 270 00:15:07,960 --> 00:15:11,159 for a 40% stake in our business. 271 00:15:11,160 --> 00:15:15,199 In 2020, during lockdown, me and my mum were doing various 272 00:15:15,200 --> 00:15:17,479 DIY projects in and around our home. 273 00:15:17,480 --> 00:15:20,399 One of these projects in particular involved screwing 274 00:15:20,400 --> 00:15:23,799 a bracket to a fence for a hanging flower basket. 275 00:15:23,800 --> 00:15:26,159 Through this, we had many deflected screws 276 00:15:26,160 --> 00:15:28,519 and it caused several near-miss injuries. 277 00:15:28,520 --> 00:15:31,559 So we went out to see if there was a product on the market 278 00:15:31,560 --> 00:15:33,119 that could solve our issue, 279 00:15:33,120 --> 00:15:35,839 but we struggled to find anything to solve our solution. 280 00:15:35,840 --> 00:15:40,799 So as a family, we had a go trying to create a product of our own. 281 00:15:40,800 --> 00:15:44,039 So, Dragons, a traditional method for inserting screws is, 282 00:15:44,040 --> 00:15:46,919 you secure the screw with your fingers, 283 00:15:46,920 --> 00:15:50,239 while also trying to handle a power tool, 284 00:15:50,240 --> 00:15:54,399 which is particularly difficult and can cause possible injuries. 285 00:15:54,400 --> 00:15:57,439 However, if you look at our product, 286 00:15:57,440 --> 00:16:00,479 you can see that my fingers are away from the screw 287 00:16:00,480 --> 00:16:04,440 and it allows the DIYer to focus purely on the power drill. 288 00:16:07,640 --> 00:16:09,399 As the screw head comes down, 289 00:16:09,400 --> 00:16:12,719 it makes contact with the angle top side of the Screw Caddy. 290 00:16:12,720 --> 00:16:14,200 Screw Caddy pops off... 291 00:16:18,560 --> 00:16:20,719 ...and the job's complete. 292 00:16:20,720 --> 00:16:24,119 We were introduced to a third party who helped us a lot 293 00:16:24,120 --> 00:16:26,279 during the development stages of the product, 294 00:16:26,280 --> 00:16:29,879 and we now have a manufacturing site here in the UK. 295 00:16:29,880 --> 00:16:32,919 Screw Caddy is patent pending and we're looking 296 00:16:32,920 --> 00:16:35,279 for that Dragon or Dragons 297 00:16:35,280 --> 00:16:39,519 who can ultimately put a Screw Caddy in every DIYer's tool box. 298 00:16:39,520 --> 00:16:42,439 Thank you. If you would like to come up, 299 00:16:42,440 --> 00:16:45,319 the wood we have actually brought in is very, very hard. 300 00:16:45,320 --> 00:16:49,560 So just to make you aware, you need to give it some welly to get it in. 301 00:16:52,160 --> 00:16:56,159 A lockdown invention that takes the pain out of drilling 302 00:16:56,160 --> 00:16:58,960 is the offering from John and Jamie O'Donnell. 303 00:17:00,680 --> 00:17:02,999 - So your fingers go to the side. - Yeah, I've got that. 304 00:17:03,000 --> 00:17:04,599 I'm just doing that while I... 305 00:17:04,600 --> 00:17:06,000 OK, all the way down. 306 00:17:07,920 --> 00:17:12,079 The inventive father and son duo are seeking an investment 307 00:17:12,080 --> 00:17:18,079 of £50,000 in return for a 40% share in their business. 308 00:17:18,080 --> 00:17:21,759 Yeah? And then pull it off. OK. 309 00:17:21,760 --> 00:17:23,839 - That's good. - Thank you. 310 00:17:23,840 --> 00:17:28,479 The product gets a nod of approval from the DIY doyenne of the den, 311 00:17:28,480 --> 00:17:30,359 Deborah Meaden. 312 00:17:30,360 --> 00:17:33,039 But it's Touker Suleyman who's the first to drill down 313 00:17:33,040 --> 00:17:35,480 into the potential of the business. 314 00:17:39,040 --> 00:17:44,919 John and Jamie, just so you know, I've got no investments in DIY. 315 00:17:44,920 --> 00:17:47,199 This could be my first. 316 00:17:47,200 --> 00:17:53,919 So, have you shown this to any major retailers? 317 00:17:53,920 --> 00:17:58,639 Yes. So the very first people we contacted was JML, 318 00:17:58,640 --> 00:18:03,079 and they asked for costs and samples for up to 750,000. 319 00:18:03,080 --> 00:18:07,559 We have been to B&Q and they've had samples, 320 00:18:07,560 --> 00:18:10,239 so we have had a lot of interest, 321 00:18:10,240 --> 00:18:13,879 but it's converting the interest to sales. 322 00:18:13,880 --> 00:18:18,159 So have you turned over anything? 323 00:18:18,160 --> 00:18:21,319 £80. 324 00:18:21,320 --> 00:18:26,039 - £80? - Yes. - Right. So, £80 turnover? 325 00:18:26,040 --> 00:18:29,079 But I can see you want to give away 40% of the business? 326 00:18:29,080 --> 00:18:31,119 Yes. 327 00:18:31,120 --> 00:18:34,280 - So you really want to entice a Dragon? - Yes. 328 00:18:36,120 --> 00:18:38,279 Jamie, John. 329 00:18:38,280 --> 00:18:41,439 When I was watching Deborah have a go at it, 330 00:18:41,440 --> 00:18:45,679 it still looked quite dangerous to me. 331 00:18:45,680 --> 00:18:48,199 I think because this screw, when put in the biggest hole here, 332 00:18:48,200 --> 00:18:50,239 is still really about five millimetres away 333 00:18:50,240 --> 00:18:53,239 from your finger still, which means it could still hit 334 00:18:53,240 --> 00:18:57,239 the edge of the plastic and then hit your finger. 335 00:18:57,240 --> 00:19:00,359 So I just wanted to see if you had a response on that point. 336 00:19:00,360 --> 00:19:02,199 Yeah. 337 00:19:02,200 --> 00:19:05,759 I take your point about the apertures 338 00:19:05,760 --> 00:19:08,039 at the side of Screw Caddy. 339 00:19:08,040 --> 00:19:10,039 They are a couple of millimetres away... 340 00:19:10,040 --> 00:19:12,679 Do you agree with that because I don't. 341 00:19:12,680 --> 00:19:14,279 - Sorry? - Do you agree with that? 342 00:19:14,280 --> 00:19:17,399 I mean, it's your product and I'm about to defend it for you. 343 00:19:17,400 --> 00:19:19,120 Is there another answer to that? 344 00:19:21,520 --> 00:19:24,159 He agrees with it. 345 00:19:24,160 --> 00:19:27,919 - So the danger is the wobble. - Mm. 346 00:19:27,920 --> 00:19:30,639 - This stops the wobble. - OK. 347 00:19:30,640 --> 00:19:33,959 So it's not the proximity to your thumb. 348 00:19:33,960 --> 00:19:38,199 It's the fact that if the screw head wobbles to one side, 349 00:19:38,200 --> 00:19:39,799 then you're in danger. 350 00:19:39,800 --> 00:19:42,399 That's holding it solid. 351 00:19:42,400 --> 00:19:47,239 - Is that what you meant to say? - Yes. Sorry. - That's what he meant to say. 352 00:19:47,240 --> 00:19:52,119 My other point was around the combination of metal and plastic. 353 00:19:52,120 --> 00:19:54,159 So what I did is, I took the screw 354 00:19:54,160 --> 00:19:57,279 in and out over and over again repeatedly like this. 355 00:19:57,280 --> 00:20:00,039 - Yeah. - And the plastic has worn off. 356 00:20:00,040 --> 00:20:02,679 So now it basically doesn't fit any more. 357 00:20:02,680 --> 00:20:07,239 So what the third party who done the development work with us, 358 00:20:07,240 --> 00:20:11,319 they tried to destroy it with the roughest screws they could find. 359 00:20:11,320 --> 00:20:14,199 They worked out if you were using it, 360 00:20:14,200 --> 00:20:16,159 the same aperture, the same size, 361 00:20:16,160 --> 00:20:18,759 you'd be talking you'd get about 35 screws. 362 00:20:18,760 --> 00:20:22,359 - 35 screws? - Yeah. 363 00:20:22,360 --> 00:20:26,719 - And how much does this cost? - 4.99. - OK. 364 00:20:26,720 --> 00:20:28,759 The equation is not great there, 365 00:20:28,760 --> 00:20:30,599 being able to do 30 screws before it breaks. 366 00:20:30,600 --> 00:20:32,519 And actually I think the consumer 367 00:20:32,520 --> 00:20:35,880 will have a bigger expectation of longevity from the product. 368 00:20:37,000 --> 00:20:39,839 My other question was about the percentage. 369 00:20:39,840 --> 00:20:43,279 What's the current shareholding between you guys? 370 00:20:43,280 --> 00:20:44,959 There are three shareholders. 371 00:20:44,960 --> 00:20:48,279 It's me, my wife and Jamie. And it's just a third share each. 372 00:20:48,280 --> 00:20:51,759 OK, which means that the Dragon would be the major shareholder. 373 00:20:51,760 --> 00:20:55,279 Yeah, we would change our structure, obviously, 374 00:20:55,280 --> 00:20:56,959 to make it a 60-40 split. 375 00:20:56,960 --> 00:20:58,360 Keep it simple. 376 00:21:00,880 --> 00:21:04,359 Guys, can I ask you, what's your patentable step? 377 00:21:04,360 --> 00:21:06,479 What's your claim? 378 00:21:06,480 --> 00:21:08,159 It's the way it holds the screw, 379 00:21:08,160 --> 00:21:10,199 and it's the way it releases the screw. 380 00:21:10,200 --> 00:21:12,479 It's the angled edge, and it's the transfer 381 00:21:12,480 --> 00:21:15,319 of that vertical force to a horizontal force 382 00:21:15,320 --> 00:21:17,359 that forces the Screw Caddy off. 383 00:21:17,360 --> 00:21:20,759 OK, so it is quite specific as to why this works. 384 00:21:20,760 --> 00:21:23,359 And what you're telling me is it wouldn't work 385 00:21:23,360 --> 00:21:25,439 if you didn't have those angles right. 386 00:21:25,440 --> 00:21:27,879 You've obviously been through lots of iterations. 387 00:21:27,880 --> 00:21:30,080 - Yeah. - OK, thank you. 388 00:21:32,720 --> 00:21:36,679 - John, Jamie. - Hi. - Hi. 389 00:21:36,680 --> 00:21:38,479 I think it looks really good. 390 00:21:38,480 --> 00:21:43,399 I think it does what you said it was supposed to do on the tin, 391 00:21:43,400 --> 00:21:45,799 but I think it's really expensive at £5. 392 00:21:45,800 --> 00:21:48,879 You know, you can get a pack of screws for £5, 393 00:21:48,880 --> 00:21:50,679 and you're selling your product 394 00:21:50,680 --> 00:21:53,279 that holds the screws for the same price. 395 00:21:53,280 --> 00:21:56,879 I just wonder whether this becomes like a really considered purchase. 396 00:21:56,880 --> 00:22:00,159 So, I don't really want to buy and spend £5 on it. 397 00:22:00,160 --> 00:22:02,159 Or is this something that, frankly, 398 00:22:02,160 --> 00:22:06,039 what you should really do is perhaps license this 399 00:22:06,040 --> 00:22:09,399 to the people that put these screw packs together? 400 00:22:09,400 --> 00:22:13,159 And this could be a product that you see in the pack as a giveaway. 401 00:22:13,160 --> 00:22:16,279 Yeah, adding it on to a buying a bag of screws 402 00:22:16,280 --> 00:22:19,079 was something that we considered right at the very start. 403 00:22:19,080 --> 00:22:20,679 It's interesting though, 404 00:22:20,680 --> 00:22:22,639 because I don't think it's attached to the screw. 405 00:22:22,640 --> 00:22:24,239 I think it's attached to the drill. 406 00:22:24,240 --> 00:22:27,319 The dangerous bit in this whole process is the drill 407 00:22:27,320 --> 00:22:29,039 and the trouble is, 408 00:22:29,040 --> 00:22:31,999 this product feels very expensive against a pack of screws. 409 00:22:32,000 --> 00:22:34,960 It doesn't feel at all expensive against a drill. 410 00:22:38,680 --> 00:22:41,919 John, Jamie, I do think the price 411 00:22:41,920 --> 00:22:45,119 is probably an issue. 412 00:22:45,120 --> 00:22:46,799 And to me, 413 00:22:46,800 --> 00:22:50,759 it feels like you would like a Dragon to come in 414 00:22:50,760 --> 00:22:52,719 and run the business for you. 415 00:22:52,720 --> 00:22:55,639 And I say that because you've not had any luck yet with sales, 416 00:22:55,640 --> 00:22:58,279 and you're willing to offer the Dragon the opportunity to be 417 00:22:58,280 --> 00:23:01,559 the single biggest shareholder in the business effectively. 418 00:23:01,560 --> 00:23:03,639 And that comes with an obligation 419 00:23:03,640 --> 00:23:06,879 that I don't feel comfortable meeting. 420 00:23:06,880 --> 00:23:09,399 So I'm going to say that I'm out, but I wish you the very best. 421 00:23:09,400 --> 00:23:11,360 Thank you. 422 00:23:13,000 --> 00:23:15,239 - John and Jamie, hi. - Hi. 423 00:23:15,240 --> 00:23:17,239 I'll just tell you where I am, 424 00:23:17,240 --> 00:23:20,919 because I think where I'm stuck with this is, giving the 40% away, 425 00:23:20,920 --> 00:23:24,039 no-one is going to drive this business 426 00:23:24,040 --> 00:23:26,239 more than you two standing there. 427 00:23:26,240 --> 00:23:29,479 And like, I got 15 orders from a retailer, 428 00:23:29,480 --> 00:23:31,519 and I think they even blocked my email address 429 00:23:31,520 --> 00:23:33,119 at one point because they were like, 430 00:23:33,120 --> 00:23:36,119 this girl is so annoying, but I was delusional. 431 00:23:36,120 --> 00:23:38,199 And you have to be so delusional 432 00:23:38,200 --> 00:23:42,919 in your product that, like, I know it's like a... 433 00:23:42,920 --> 00:23:45,679 I'll try another way, I'll try another way, 434 00:23:45,680 --> 00:23:47,719 and I'm just not feeling that. 435 00:23:47,720 --> 00:23:50,799 So that's kind of where I'm at and I can only get behind something 436 00:23:50,800 --> 00:23:53,319 that, you need to be more delusional than me on this. 437 00:23:53,320 --> 00:23:56,279 And right now, there's no delusional here. 438 00:23:56,280 --> 00:23:59,200 - So well done, but I am out. - Thank you. 439 00:24:03,320 --> 00:24:07,519 Guys, to try and sell this product on its own 440 00:24:07,520 --> 00:24:10,239 will cost you a lot of money. 441 00:24:10,240 --> 00:24:13,879 - Yeah. - You could make it into a set. 442 00:24:13,880 --> 00:24:16,679 If somebody comes in, they want to buy that screw, 443 00:24:16,680 --> 00:24:19,399 it's already in the packet, and that's Peter's idea. 444 00:24:19,400 --> 00:24:22,879 I won't take that away from him. But I would say this, 445 00:24:22,880 --> 00:24:25,959 I'm not your right Dragon for this. 446 00:24:25,960 --> 00:24:28,319 So I'm going to say that I'm out, but I wish you all the best. 447 00:24:28,320 --> 00:24:29,920 Thanks, Touker. 448 00:24:32,600 --> 00:24:34,839 John, Jamie, 449 00:24:34,840 --> 00:24:38,480 I really think it's genius that you came in and offered 40%. 450 00:24:40,520 --> 00:24:43,319 Because you want to make it attractive for a Dragon. 451 00:24:43,320 --> 00:24:46,959 - Yeah. - So as a Dragon that really likes opportunity 452 00:24:46,960 --> 00:24:48,599 and never likes to miss out, 453 00:24:48,600 --> 00:24:51,639 and bear in mind, there is one Dragon here 454 00:24:51,640 --> 00:24:54,919 that's had quite a good little bit of success with DIY, 455 00:24:54,920 --> 00:24:57,680 I'm just going to pause for a moment and reflect. 456 00:25:05,360 --> 00:25:06,920 Um... 457 00:25:10,040 --> 00:25:14,799 So somebody stood in here about ten years ago. 458 00:25:14,800 --> 00:25:20,079 A couple, Jenny and Martin, and they had a genius DIY product. 459 00:25:20,080 --> 00:25:22,599 And Martin said, "I'm an inventor. 460 00:25:22,600 --> 00:25:25,399 "I haven't got a clue about business, but I'm an inventor 461 00:25:25,400 --> 00:25:27,559 "and I know it works and it's brilliant." 462 00:25:27,560 --> 00:25:29,999 That was Marxman pens. 463 00:25:30,000 --> 00:25:31,999 They didn't know their numbers. 464 00:25:32,000 --> 00:25:34,999 They hadn't talked to the right people. 465 00:25:35,000 --> 00:25:36,799 But there was something about them 466 00:25:36,800 --> 00:25:38,519 and there was something about their product. 467 00:25:38,520 --> 00:25:40,159 And apart from anything else, 468 00:25:40,160 --> 00:25:43,159 I wanted to find out whether or not they really had something. 469 00:25:43,160 --> 00:25:47,240 And that product, now we sell millions of. 470 00:25:48,600 --> 00:25:49,880 Um. 471 00:25:55,280 --> 00:25:56,960 So I'm going to make you an offer. 472 00:25:59,480 --> 00:26:01,280 - Thank you very much. - Thank you. 473 00:26:03,720 --> 00:26:05,160 They haven't heard it yet! 474 00:26:07,840 --> 00:26:12,839 So you asked for £50,000 for 40% of the business. 475 00:26:12,840 --> 00:26:15,520 I'm going to offer you all of the money. 476 00:26:18,080 --> 00:26:20,279 And I want 30% of the business. 477 00:26:20,280 --> 00:26:21,600 Whoa! 478 00:26:24,320 --> 00:26:27,199 - Wow! - Because it's your business, 479 00:26:27,200 --> 00:26:30,280 and I don't want to be the majority shareholder. 480 00:26:33,640 --> 00:26:35,040 So... 481 00:26:38,400 --> 00:26:41,879 I think you guys are, you're really great. 482 00:26:41,880 --> 00:26:43,879 I think you've got a really good idea. 483 00:26:43,880 --> 00:26:47,159 It's really neat. And I think 484 00:26:47,160 --> 00:26:50,639 that you've got the perfect Dragon for this, 485 00:26:50,640 --> 00:26:53,799 so I'm not going to make you an offer and say that I'm out. 486 00:26:53,800 --> 00:26:55,919 But it'll be interesting 487 00:26:55,920 --> 00:26:58,520 when you reflect over there what your decision is. 488 00:27:01,480 --> 00:27:03,960 - Do we need to reflect? - Don't think so. 489 00:27:05,920 --> 00:27:08,799 - We would love to accept your offer. - Well done. 490 00:27:08,800 --> 00:27:13,479 Excellent. Well done, guys. Well done, you guys. Great! 491 00:27:13,480 --> 00:27:15,959 Success for the father and son team. 492 00:27:15,960 --> 00:27:17,919 - Thank you very much. - Thank you very much. 493 00:27:17,920 --> 00:27:19,479 Well done. 494 00:27:19,480 --> 00:27:21,559 Can you be a little bit more excited? 495 00:27:21,560 --> 00:27:24,159 Seriously, I'm more excited than you at the moment. 496 00:27:24,160 --> 00:27:26,559 - We'll be jumping outside! - Yeah. 497 00:27:26,560 --> 00:27:29,239 - Thank you. - Thanks very much. 498 00:27:29,240 --> 00:27:33,679 The DIY duo have secured their dream Dragon 499 00:27:33,680 --> 00:27:37,959 and managed to achieve that rare feat of leaving the den, 500 00:27:37,960 --> 00:27:41,080 having given away less equity than they offered. 501 00:27:43,480 --> 00:27:46,479 I'm over the moon that I've got Deborah in the team. 502 00:27:46,480 --> 00:27:49,119 I can't believe it. It's absolutely amazing. 503 00:27:49,120 --> 00:27:50,480 They seemed in shock. 504 00:27:52,360 --> 00:27:54,160 That was like, yeah, thanks. 505 00:27:57,360 --> 00:27:59,039 Can't wait to tell Mum. 506 00:27:59,040 --> 00:28:01,919 I'm so proud of my dad because to see 507 00:28:01,920 --> 00:28:05,200 the whole journey come together like this is just unbelievable. 508 00:28:16,240 --> 00:28:19,599 - Well, here we are. - Right then. - The Den. 509 00:28:19,600 --> 00:28:21,879 My name is Fred Parry and I'm from London. 510 00:28:21,880 --> 00:28:24,119 Look at this thing. 511 00:28:24,120 --> 00:28:26,399 I can't imagine many people have been dressed 512 00:28:26,400 --> 00:28:28,159 as a chicken in the Den. 513 00:28:28,160 --> 00:28:31,319 I am wearing a chicken costume because I built a game 514 00:28:31,320 --> 00:28:33,719 where someone hides in a chicken costume. 515 00:28:33,720 --> 00:28:37,080 And I thought it was only right to put me in it today. 516 00:28:38,960 --> 00:28:42,439 The Dragons are probably going to guess we're a birthday party, 517 00:28:42,440 --> 00:28:44,519 fancy dress thing. 518 00:28:44,520 --> 00:28:47,639 They're going to think someone's obsessed with chickens. 519 00:28:47,640 --> 00:28:49,999 Children's entertainer. 520 00:28:50,000 --> 00:28:52,279 Ah. 521 00:28:52,280 --> 00:28:54,799 Buck, buck, buck! 522 00:28:54,800 --> 00:28:57,399 Honestly, is a really good chicken. 523 00:28:57,400 --> 00:29:00,799 It's good to know you have a plan B sometimes in life. 524 00:29:00,800 --> 00:29:02,480 In life, always have a plan B. 525 00:29:04,760 --> 00:29:06,319 I'm nervous. 526 00:29:06,320 --> 00:29:09,559 This chicken costume seals in all the heat. 527 00:29:09,560 --> 00:29:12,119 I'm going to be roasted in that Den. 528 00:29:12,120 --> 00:29:13,480 Roasted chicken. 529 00:29:18,200 --> 00:29:22,159 One, two, three, four, 530 00:29:22,160 --> 00:29:24,999 five, six, seven, 531 00:29:25,000 --> 00:29:27,240 eight, nine, ten. 532 00:29:28,760 --> 00:29:36,120 LIVELY MUSIC 533 00:29:50,560 --> 00:29:52,359 I don't know what to do now. 534 00:29:52,360 --> 00:29:56,119 I was about to applaud, and then I thought, maybe not. 535 00:29:56,120 --> 00:30:00,999 - Oh, please, please. - Wow! - Scary! 536 00:30:01,000 --> 00:30:02,520 Please. 537 00:30:06,600 --> 00:30:08,679 Hello, Dragons. My name is Fred, 538 00:30:08,680 --> 00:30:11,999 and I'm asking for £50,000 in exchange for 10% of my business, 539 00:30:12,000 --> 00:30:13,719 Chicken Rush. 540 00:30:13,720 --> 00:30:16,999 We are a real world, GPS powered game of hide and seek. 541 00:30:17,000 --> 00:30:20,159 Teams race to find someone hiding in a pub or bar 542 00:30:20,160 --> 00:30:23,919 dressed as a chicken, and use our app as a live radar. 543 00:30:23,920 --> 00:30:25,679 Along the way, 544 00:30:25,680 --> 00:30:28,359 they complete silly challenges, compete for points, 545 00:30:28,360 --> 00:30:31,439 and submit photos and videos as proof. 546 00:30:31,440 --> 00:30:34,759 It's team based, tech driven and utterly ridiculous. 547 00:30:34,760 --> 00:30:37,639 In year one, we turned over £55,000. 548 00:30:37,640 --> 00:30:41,119 In year two, we forecast £164,000. 549 00:30:41,120 --> 00:30:44,799 We've had over 7,000 players across 50 countries 550 00:30:44,800 --> 00:30:46,519 with no full-time staff. 551 00:30:46,520 --> 00:30:49,439 We've had over 5 million views on social media 552 00:30:49,440 --> 00:30:51,759 with barely any marketing spend. 553 00:30:51,760 --> 00:30:53,799 I built the platform myself. 554 00:30:53,800 --> 00:30:57,279 The tracking, the booking system, the scoring, the lot. 555 00:30:57,280 --> 00:31:01,319 It's scalable tech that can pop up in any city tomorrow. 556 00:31:01,320 --> 00:31:04,279 I've proven it works. Now I want it to grow. 557 00:31:04,280 --> 00:31:07,680 With your help, we can achieve global chicken domination. 558 00:31:09,520 --> 00:31:13,759 A real-world game of hide and seek with a tech twist. 559 00:31:13,760 --> 00:31:16,439 Using GPS and a custom-built app, 560 00:31:16,440 --> 00:31:20,919 Fred Parry is reinventing outdoor play for the digital age. 561 00:31:20,920 --> 00:31:23,160 - Thank you. - Thank you. - See you. 562 00:31:24,600 --> 00:31:29,879 The entrepreneur is seeking an investment of £50,000... 563 00:31:29,880 --> 00:31:31,439 Terrifying! 564 00:31:31,440 --> 00:31:35,999 ...in exchange for a 10% share in his feathered venture. 565 00:31:36,000 --> 00:31:39,279 But will the Dragons flock to the opportunity 566 00:31:39,280 --> 00:31:41,800 or cross the road to avoid it? 567 00:31:45,760 --> 00:31:48,599 Fred, I can't work out whether you're looking 568 00:31:48,600 --> 00:31:50,759 for an investment or you're looking 569 00:31:50,760 --> 00:31:53,199 for a Dragon to dress up as a chicken. 570 00:31:53,200 --> 00:31:56,039 Very much looking investment to grow the game. 571 00:31:56,040 --> 00:31:59,119 Most of our games at the moment are team building games. 572 00:31:59,120 --> 00:32:01,439 So someone dresses up as a chicken, 573 00:32:01,440 --> 00:32:06,279 - often the boss of a company, perhaps, and hides. - OK. 574 00:32:06,280 --> 00:32:10,839 So I'm trying to work out what this business is. 575 00:32:10,840 --> 00:32:13,559 It's hide and seek for adults. 576 00:32:13,560 --> 00:32:16,679 So one person hides, a circle appears on a map 577 00:32:16,680 --> 00:32:19,119 that gradually shrinks around their location. 578 00:32:19,120 --> 00:32:21,319 And then there's also challenges teams do 579 00:32:21,320 --> 00:32:23,079 while they're playing the game. 580 00:32:23,080 --> 00:32:25,319 So it's not just about finding the chicken, 581 00:32:25,320 --> 00:32:28,759 but you get 100 points for finding the chicken first. 582 00:32:28,760 --> 00:32:33,439 OK, so I want to know about you. What's your background? 583 00:32:33,440 --> 00:32:35,759 - Yeah, yeah. - You built this yourself. 584 00:32:35,760 --> 00:32:38,239 I just want to know who am I investing in? 585 00:32:38,240 --> 00:32:39,959 Which chicken am I going to invest in? 586 00:32:39,960 --> 00:32:41,399 Yeah. From the beginning, 587 00:32:41,400 --> 00:32:44,519 I was building online learning games for kids. 588 00:32:44,520 --> 00:32:46,359 But over time, 589 00:32:46,360 --> 00:32:49,399 and I think a lot of people now who are software developers find this. 590 00:32:49,400 --> 00:32:51,559 They're not meeting people on the other side. 591 00:32:51,560 --> 00:32:53,959 They're not seeing how their tech is used. 592 00:32:53,960 --> 00:32:56,679 So I had a bit of a disillusionment with that. 593 00:32:56,680 --> 00:33:00,119 So I wanted to prove that I could build one bit of tech 594 00:33:00,120 --> 00:33:02,799 where I know that people were enjoying using it, 595 00:33:02,800 --> 00:33:04,759 meeting the people, playing the game. 596 00:33:04,760 --> 00:33:06,599 This was like the perfect example 597 00:33:06,600 --> 00:33:09,279 and perfect case study for me being able to do it. 598 00:33:09,280 --> 00:33:12,239 And then we hosted a public dating event for 40 singles 599 00:33:12,240 --> 00:33:14,719 to get it off the ground, which is a bit strange, 600 00:33:14,720 --> 00:33:17,279 like, there's one thing a chicken chasing game, 601 00:33:17,280 --> 00:33:19,399 and then there's also a date involved with it. 602 00:33:19,400 --> 00:33:22,879 Well, people want to be distracted by the fact they're on a first date. 603 00:33:22,880 --> 00:33:25,479 So turns out our dating events became really popular, 604 00:33:25,480 --> 00:33:29,519 and we had a waitlist of over 2,000 singles in London. 605 00:33:29,520 --> 00:33:33,239 Single people wanted to come and play this game 606 00:33:33,240 --> 00:33:35,119 to meet somebody else? 607 00:33:35,120 --> 00:33:38,280 People have found love while hunting chickens, yeah. 608 00:33:39,440 --> 00:33:44,079 Right, so let's look at the serious part of this situation. 609 00:33:44,080 --> 00:33:46,039 The business part. 610 00:33:46,040 --> 00:33:48,879 So how do you monetise this? 611 00:33:48,880 --> 00:33:51,839 - How do you organise it? - Yeah. - Just want to know. 612 00:33:51,840 --> 00:33:55,279 Yeah. So there's two types. 613 00:33:55,280 --> 00:33:57,719 You get the tech and you play with your friends 614 00:33:57,720 --> 00:34:00,759 for £15 per person in a team building setting 615 00:34:00,760 --> 00:34:05,079 or just for fun or sometimes with large companies. 616 00:34:05,080 --> 00:34:06,279 They've got a big budget. 617 00:34:06,280 --> 00:34:08,399 They just want a hassle free someone to come here, 618 00:34:08,400 --> 00:34:09,839 hand over a chicken costume, 619 00:34:09,840 --> 00:34:13,239 explain the rules, and then you play the same game. 620 00:34:13,240 --> 00:34:17,159 Fred, how does this, how does this get big? 621 00:34:17,160 --> 00:34:20,120 - What does big mean to you? - Um... 622 00:34:23,840 --> 00:34:28,079 Big is getting into definitely at least every city in the UK, 623 00:34:28,080 --> 00:34:33,159 as well as any city which has enough hiding spots in them. 624 00:34:33,160 --> 00:34:35,719 And what, in terms of quantifying big, 625 00:34:35,720 --> 00:34:37,399 what does that look like? 626 00:34:37,400 --> 00:34:40,439 The number I've had in my head is 100 games a day. 627 00:34:40,440 --> 00:34:43,759 And if you did 100 a day, what does that look like in terms of revenue? 628 00:34:43,760 --> 00:34:48,479 - It's 30 grand revenue. - A day? - Yeah. 629 00:34:48,480 --> 00:34:50,040 OK. 630 00:34:52,680 --> 00:34:54,599 - Fred, hi. - Hello, Deborah. 631 00:34:54,600 --> 00:34:57,559 Have you forgotten by now that you're dressed as a chicken? 632 00:34:57,560 --> 00:35:02,159 You do start to, if you wear it enough times. 633 00:35:02,160 --> 00:35:07,639 OK, so, what next? I mean, you know, 634 00:35:07,640 --> 00:35:12,359 it's a cool, funny, eye catching idea. 635 00:35:12,360 --> 00:35:14,679 And I can imagine why corporates would, 636 00:35:14,680 --> 00:35:17,159 who were desperate to find the next thing 637 00:35:17,160 --> 00:35:21,079 and not do the old paintballing thing for corporate events. 638 00:35:21,080 --> 00:35:24,119 So I can imagine them thinking, "Oh, that looks new and different." 639 00:35:24,120 --> 00:35:26,959 But if you're really going to leverage this business, 640 00:35:26,960 --> 00:35:28,759 you need to become the place 641 00:35:28,760 --> 00:35:32,839 to look to the innovative ways of building teams, don't you? 642 00:35:32,840 --> 00:35:36,079 You know? So what next? What's your plans? 643 00:35:36,080 --> 00:35:40,159 At the moment, my core focus is just grow outside of London. 644 00:35:40,160 --> 00:35:43,839 With your investment, though, it's about scaling the casual games. 645 00:35:43,840 --> 00:35:46,879 - So birthdays, stags and hen do's. - Easter. 646 00:35:46,880 --> 00:35:50,759 Easter, turkey hunt for Christmas, all of these things. 647 00:35:50,760 --> 00:35:53,359 But at the moment it's just been me working on this. 648 00:35:53,360 --> 00:35:57,199 So I just had to focus on one small thing at a time. 649 00:35:57,200 --> 00:35:59,479 - OK, so you're on your own at the moment? - Yeah. 650 00:35:59,480 --> 00:36:02,559 Are you just going to keep moving yourself around the country? 651 00:36:02,560 --> 00:36:05,479 For the next year, that would be our main focus. 652 00:36:05,480 --> 00:36:07,399 - It's you? - Yeah. 653 00:36:07,400 --> 00:36:10,720 But we'd have part-time help, brought in for each event. 654 00:36:12,920 --> 00:36:16,959 - Fred, hi. - Hi. - I love adding the crazy into business. 655 00:36:16,960 --> 00:36:20,559 But then on the flip side, I hate organised fun. 656 00:36:20,560 --> 00:36:23,079 - Yeah. - I love the dating idea. 657 00:36:23,080 --> 00:36:26,159 I think that's genius, but I think where you're almost missing 658 00:36:26,160 --> 00:36:29,119 that trick is actually making this a thing 659 00:36:29,120 --> 00:36:32,239 before you pigeonhole it into the corporate world, 660 00:36:32,240 --> 00:36:33,919 into the dating world. 661 00:36:33,920 --> 00:36:36,759 And it's like, if that was on Eventbrite in London 662 00:36:36,760 --> 00:36:39,199 and you got everyone in London like, 663 00:36:39,200 --> 00:36:41,919 "Do you want to go to Pilates today? Do you want to go and get coffee, 664 00:36:41,920 --> 00:36:44,239 or do you want to go and do this crazy thing I just saw 665 00:36:44,240 --> 00:36:46,999 called Chicken Rush?" Like, you get everyone doing it 666 00:36:47,000 --> 00:36:50,599 and then you pigeonhole it into corporate, dating, 667 00:36:50,600 --> 00:36:53,759 whatever you want, and it's like, 668 00:36:53,760 --> 00:36:56,999 yeah, how do we make this bigger? And how many people come back? 669 00:36:57,000 --> 00:36:58,799 So once they've done Chicken Rush, 670 00:36:58,800 --> 00:37:01,039 do they then delete the app or do they stay on? 671 00:37:01,040 --> 00:37:03,519 Do they do another one? 672 00:37:03,520 --> 00:37:06,679 So as far as numbers are concerned, 673 00:37:06,680 --> 00:37:09,039 5% in year one of our corporates came back. 674 00:37:09,040 --> 00:37:11,639 And then 10% of the people 675 00:37:11,640 --> 00:37:14,039 that came to one of our events came back. 676 00:37:14,040 --> 00:37:16,440 Some have played over five times. 677 00:37:27,760 --> 00:37:29,599 I'm like, I'm really, 678 00:37:29,600 --> 00:37:32,879 I'm really into businesses that are able to bring people 679 00:37:32,880 --> 00:37:37,679 into the real world and find ways for them to connect, 680 00:37:37,680 --> 00:37:42,479 and especially businesses that are a platform to scale that globally. 681 00:37:42,480 --> 00:37:43,959 So what am I investing in here? 682 00:37:43,960 --> 00:37:46,519 Am I investing in a platform that has scale? 683 00:37:46,520 --> 00:37:49,159 That's really the pitch that I think really 684 00:37:49,160 --> 00:37:51,519 would have swung me is something like that. 685 00:37:51,520 --> 00:37:53,959 We have built that events platform in the background. 686 00:37:53,960 --> 00:37:56,719 So a huge part of it is for all of our dating events. 687 00:37:56,720 --> 00:37:59,279 The thing you pitched to me today was a chicken game 688 00:37:59,280 --> 00:38:03,439 - where people hide in pubs. - True. 689 00:38:03,440 --> 00:38:06,599 If it sounded different, if it had started with the big picture, 690 00:38:06,600 --> 00:38:09,559 the macro, loneliness epidemic, 691 00:38:09,560 --> 00:38:11,519 people despairing at dating apps letting them down. 692 00:38:11,520 --> 00:38:13,159 So we're building the platform 693 00:38:13,160 --> 00:38:16,079 for social competitive in real life games. 694 00:38:16,080 --> 00:38:17,879 I would have been like, "Oh, here we go." 695 00:38:17,880 --> 00:38:20,079 I rewrote that on Sunday, but then I got worried 696 00:38:20,080 --> 00:38:22,119 that you wouldn't understand what the game was. 697 00:38:22,120 --> 00:38:25,479 So the whole pitch was, 698 00:38:25,480 --> 00:38:28,799 all around us, pubs are closing, there is a loneliness epidemic. 699 00:38:28,800 --> 00:38:31,039 - That was the pitch? - That was the pitch. 700 00:38:31,040 --> 00:38:34,319 - The whole thing. - That was the pitch. The key to pitching for me 701 00:38:34,320 --> 00:38:37,599 is you start with the why, pubs have closed, loneliness epidemic. 702 00:38:37,600 --> 00:38:39,599 I would have been nodding like a dog, yes, yes, yes. 703 00:38:39,600 --> 00:38:41,199 And then you build it up and say, 704 00:38:41,200 --> 00:38:43,959 so we've made this. And I go, "Oh, interesting." 705 00:38:43,960 --> 00:38:45,759 But what you did is you started with the what? 706 00:38:45,760 --> 00:38:47,719 You started with the chicken side in pubs. 707 00:38:47,720 --> 00:38:49,439 And I'm like, "Oh." 708 00:38:49,440 --> 00:38:52,999 My original pitch was just that exact story. 709 00:38:53,000 --> 00:38:56,319 It might be the story, but it's not the business either that you have. 710 00:38:56,320 --> 00:39:00,199 - That's the difference, is it. - Well, this is one little... 711 00:39:00,200 --> 00:39:04,079 - This is a chicken game with a GPS tracking device. - Yeah. 712 00:39:04,080 --> 00:39:08,159 We get hundreds of people outside interacting. 713 00:39:08,160 --> 00:39:11,679 The whole aim and ethos of this is to try 714 00:39:11,680 --> 00:39:15,599 and get people outside and playing and meeting new people. 715 00:39:15,600 --> 00:39:17,359 That's why I set it up anyway. 716 00:39:17,360 --> 00:39:19,599 Yeah. Fred, look, I think it's great. 717 00:39:19,600 --> 00:39:24,999 I think that it's a tough one to invest in. 718 00:39:25,000 --> 00:39:28,359 It really is. And sadly, 719 00:39:28,360 --> 00:39:31,599 I'm going to say that I'm out, but good luck to you. 720 00:39:31,600 --> 00:39:33,120 Thank you, Peter. 721 00:39:37,080 --> 00:39:39,759 I do think you need an investor, but I think, 722 00:39:39,760 --> 00:39:41,519 I think it's going to be tough 723 00:39:41,520 --> 00:39:44,199 - for you to get an investor based on what your pitch was today. - OK. 724 00:39:44,200 --> 00:39:46,839 The chicken thing, because it's really fun 725 00:39:46,840 --> 00:39:49,519 But it's also quite distracting 726 00:39:49,520 --> 00:39:52,159 in a way where an investor is trying to understand 727 00:39:52,160 --> 00:39:54,839 the potential and the scale of this business, 728 00:39:54,840 --> 00:39:57,559 the coming in the way that you came in with the chickens and 729 00:39:57,560 --> 00:40:00,199 the Deborah Meaden and Peter Jones' face. 730 00:40:00,200 --> 00:40:01,679 I mean, that was distracting, 731 00:40:01,680 --> 00:40:03,799 but the whole thing kind of diverted me 732 00:40:03,800 --> 00:40:05,479 from the real problem you're trying to solve here, 733 00:40:05,480 --> 00:40:07,479 which I've managed to tease out of you, 734 00:40:07,480 --> 00:40:09,999 which is loneliness, connection, bringing people together 735 00:40:10,000 --> 00:40:12,879 in real life in an increasingly digital world. 736 00:40:12,880 --> 00:40:14,999 That is it. 737 00:40:15,000 --> 00:40:16,999 That's an inspiring proposition. 738 00:40:17,000 --> 00:40:21,480 But the proposition I saw today wasn't that. 739 00:40:23,440 --> 00:40:26,400 So I'm going to say that I'm out, but I wish you the very best. 740 00:40:29,880 --> 00:40:31,359 Fred. 741 00:40:31,360 --> 00:40:35,160 I think you need investment because you need people around you. 742 00:40:36,640 --> 00:40:41,199 My issue is that I can't personally see 743 00:40:41,200 --> 00:40:46,759 how I can spend the time that you need in this business. 744 00:40:46,760 --> 00:40:50,320 - So I won't be investing. I'm out. - Thank you, Deborah. 745 00:40:53,440 --> 00:40:56,279 Fred, I'm going to tell you where I am. 746 00:40:56,280 --> 00:41:00,119 I'm not interested in chicken games at my age. 747 00:41:00,120 --> 00:41:05,319 - OK. - I'm going to say I'm going to go back to my little cage... - Yeah. 748 00:41:05,320 --> 00:41:07,279 Not invest, and I'm out. 749 00:41:07,280 --> 00:41:08,560 Thank you though. 750 00:41:12,680 --> 00:41:15,759 - Hi, Fred. - Hello. - I just panicked. 751 00:41:15,760 --> 00:41:19,479 I got your name wrong, and I was like... 752 00:41:19,480 --> 00:41:21,839 I just think you're great. I think you're great. 753 00:41:21,840 --> 00:41:24,439 And I think you're amazing. And for me, 754 00:41:24,440 --> 00:41:28,519 I feel like there is something in this chicken player, 755 00:41:28,520 --> 00:41:31,879 but I think this needs to be blown up stronger. 756 00:41:31,880 --> 00:41:35,759 Make it massive. And then you cash in with corporates, 757 00:41:35,760 --> 00:41:37,319 with dating. 758 00:41:37,320 --> 00:41:40,679 Once you've made this chicken game a bigger thing. 759 00:41:40,680 --> 00:41:42,879 I do genuinely feel as though if I came on board, 760 00:41:42,880 --> 00:41:46,039 I would just be giving you the same advice that I've kind of given, 761 00:41:46,040 --> 00:41:48,279 but I would love to help you in however I can. 762 00:41:48,280 --> 00:41:50,399 So I'm not going to be your business partner, 763 00:41:50,400 --> 00:41:51,999 but I can be that person to call. 764 00:41:52,000 --> 00:41:54,119 And this is going to be huge and you're going to be huge. 765 00:41:54,120 --> 00:41:56,359 I think you need to keep going. But I am out. 766 00:41:56,360 --> 00:41:58,919 But I wish you all the best, but I will definitely help you. 767 00:41:58,920 --> 00:42:00,559 - Thank you. - Good luck, Fred. - Good luck. 768 00:42:00,560 --> 00:42:04,159 Cheers, thank you very much. Thank you. Cheers. 769 00:42:04,160 --> 00:42:05,999 Sadly for Fred, 770 00:42:06,000 --> 00:42:09,879 he's failed to land any of the Dragons, 771 00:42:09,880 --> 00:42:14,759 though he has managed to secure a wingwoman in Jenna Meek. 772 00:42:14,760 --> 00:42:20,239 I love the idea of getting everyone out together and creating something. 773 00:42:20,240 --> 00:42:23,479 It just wasn't something enough. 774 00:42:23,480 --> 00:42:24,999 Jenna was really helpful. 775 00:42:25,000 --> 00:42:28,399 She gave me some advice about how to have mainstream appeal. 776 00:42:28,400 --> 00:42:31,559 So expect to see more chickens popping up in other cities. 777 00:42:31,560 --> 00:42:33,160 Tomorrow, maybe. 778 00:42:45,520 --> 00:42:47,119 I'm Rachel Williams. 779 00:42:47,120 --> 00:42:50,559 I'm from a small town in Lancashire, in the north of England, 780 00:42:50,560 --> 00:42:54,920 and my business was born on the top of a mountain in the French Alps! 781 00:42:57,120 --> 00:43:01,159 - Nice bright packaging. - Lip creams. It's a lip brand. 782 00:43:01,160 --> 00:43:03,159 Definitely a lip brand. 783 00:43:03,160 --> 00:43:07,079 It's been a long journey and many, many people said, 784 00:43:07,080 --> 00:43:09,839 "You'll never make it in this industry." 785 00:43:09,840 --> 00:43:11,919 And being a northern girl, 786 00:43:11,920 --> 00:43:14,759 I kind of thought, "Well, I will, I'll show them." 787 00:43:14,760 --> 00:43:17,719 So, I did. So, yeah, 788 00:43:17,720 --> 00:43:19,960 I feel quite proud that I've got here. 789 00:43:29,520 --> 00:43:33,159 Hello, Dragons. I'm Rachel, I'm a physiologist, 790 00:43:33,160 --> 00:43:35,959 and I'm the founder of Albert and Flora, 791 00:43:35,960 --> 00:43:41,559 a specialist, award-winning skincare brand that provides targeted support 792 00:43:41,560 --> 00:43:44,959 for the lips and skin around the mouth. 793 00:43:44,960 --> 00:43:48,399 I'm here today to ask for £50,000 794 00:43:48,400 --> 00:43:53,559 in return for 15% equity in my business. 795 00:43:53,560 --> 00:43:58,159 Lines and wrinkles around the mouth, thinning lips, 796 00:43:58,160 --> 00:44:01,079 chronic dryness, cold sores, 797 00:44:01,080 --> 00:44:04,439 sunburn and lip cancer affect the confidence 798 00:44:04,440 --> 00:44:08,399 and comfort of millions of men and women every day. 799 00:44:08,400 --> 00:44:13,919 UV exposure and sun damage are known to impact on these concerns. 800 00:44:13,920 --> 00:44:17,799 However, UV lip protection is not always used 801 00:44:17,800 --> 00:44:21,199 on a daily basis in people's skincare routines. 802 00:44:21,200 --> 00:44:24,679 We've launched two products so far, Lip Shield, 803 00:44:24,680 --> 00:44:27,919 which is an SPF lip balm, and Lip Facial, 804 00:44:27,920 --> 00:44:32,119 which is an exfoliating and plumping treatment mask. 805 00:44:32,120 --> 00:44:37,439 We currently provide products to 370 aesthetic clinics, 806 00:44:37,440 --> 00:44:39,919 spa's and beauty salons. 807 00:44:39,920 --> 00:44:43,759 We also supply direct to our customers via our website. 808 00:44:43,760 --> 00:44:49,879 To date, we have delivered £695,000 worth of accumulated turnover, 809 00:44:49,880 --> 00:44:53,319 and we want to develop a clinic and consumer brand 810 00:44:53,320 --> 00:44:55,159 that can be accessed globally. 811 00:44:55,160 --> 00:44:56,959 Thank you. 812 00:44:56,960 --> 00:45:01,879 - Oh, breathe! - Breathe! 813 00:45:01,880 --> 00:45:03,320 I can breathe! 814 00:45:05,680 --> 00:45:09,159 Products which both prettify and protect the lips 815 00:45:09,160 --> 00:45:12,199 are the offering from Rachel Williams. 816 00:45:12,200 --> 00:45:15,239 In the large square box, you've got a pot of the lip facial, 817 00:45:15,240 --> 00:45:20,799 and then in the smaller boxes you've got the SPF lip shield. 818 00:45:20,800 --> 00:45:24,199 She's looking for a £50,000 investment 819 00:45:24,200 --> 00:45:28,399 in return for a 15% share in her business. 820 00:45:28,400 --> 00:45:30,599 Can I just tell you, when you do your lipstick, 821 00:45:30,600 --> 00:45:32,839 you only have to put it out about that much to even, 822 00:45:32,840 --> 00:45:34,759 not even that much. Just a bit at the end. 823 00:45:34,760 --> 00:45:37,039 That's it. 824 00:45:37,040 --> 00:45:40,599 Rachel believes her targeted approach fills a gap 825 00:45:40,600 --> 00:45:43,559 in the ever growing skincare market. 826 00:45:43,560 --> 00:45:46,399 - How do I, how does it look? - It looks good. 827 00:45:46,400 --> 00:45:50,640 But will the Dragons be convinced by her pout focused pitch? 828 00:45:54,960 --> 00:45:56,559 So have I got this straight 829 00:45:56,560 --> 00:45:58,759 that this is essentially the unique selling point 830 00:45:58,760 --> 00:46:03,119 of this business is that it protects my lips from sun damage? 831 00:46:03,120 --> 00:46:05,199 Yes. And people don't realise 832 00:46:05,200 --> 00:46:09,319 how much damage you can get from daily UV. 833 00:46:09,320 --> 00:46:11,879 And the lip is so thin and delicate, 834 00:46:11,880 --> 00:46:14,359 and that means it dehydrates quite quickly. 835 00:46:14,360 --> 00:46:19,359 So is this a health product versus a beauty product per se? 836 00:46:19,360 --> 00:46:21,839 The SPF is a lifestyle product. 837 00:46:21,840 --> 00:46:25,559 Everybody's got a pair of lips and we need to look after them. 838 00:46:25,560 --> 00:46:28,119 And how is this different from a lip balm? 839 00:46:28,120 --> 00:46:31,039 Because it's a broad spectrum UVA, UVB protector. 840 00:46:31,040 --> 00:46:33,559 What does that mean for a muggle like me 841 00:46:33,560 --> 00:46:35,599 that knows nothing about UV anything? 842 00:46:35,600 --> 00:46:39,279 So it's going to protect you against the damage that UV rays can do, 843 00:46:39,280 --> 00:46:41,239 because UV would come into the skin 844 00:46:41,240 --> 00:46:44,879 and it can impact on the cells' physiology and function. 845 00:46:44,880 --> 00:46:46,959 And sometimes that UV damage 846 00:46:46,960 --> 00:46:50,239 is accumulated through your lifetime. 847 00:46:50,240 --> 00:46:53,039 So it is like a lip sun cream then? 848 00:46:53,040 --> 00:46:54,879 Yes, the lip balm is, yes. 849 00:46:54,880 --> 00:46:57,239 Because I put some of this lip balm on. 850 00:46:57,240 --> 00:47:00,919 But what's weird, this lip balm, I've got a bit tingly and it feels 851 00:47:00,920 --> 00:47:02,799 like my bottom lip's going thicker. 852 00:47:02,800 --> 00:47:06,759 So that isn't a lip balm. So that's the advanced treatment. 853 00:47:06,760 --> 00:47:08,479 - It's not a lip balm. - No. 854 00:47:08,480 --> 00:47:10,519 So the lip balms are in the sticks. 855 00:47:10,520 --> 00:47:12,599 So what is this? What's that supposed to do? 856 00:47:12,600 --> 00:47:17,239 So the lip facial is an exfoliating and plumping treatment mask. 857 00:47:17,240 --> 00:47:19,519 It's plumping. 858 00:47:19,520 --> 00:47:21,519 So that is a product that we use... 859 00:47:21,520 --> 00:47:25,599 - So that's why that feels it's getting thicker. - It's swollen up. 860 00:47:25,600 --> 00:47:28,599 Could I ask you a question while these two playing with each other? 861 00:47:28,600 --> 00:47:29,679 No, we're not playing. 862 00:47:29,680 --> 00:47:32,519 I'm just asking some very important questions. 863 00:47:32,520 --> 00:47:35,279 Just tell us about your qualifications in this sector. 864 00:47:35,280 --> 00:47:36,959 Well, qualifications. 865 00:47:36,960 --> 00:47:39,479 I've been a physiologist for many years 866 00:47:39,480 --> 00:47:43,199 and supported British teams in three Olympic cycles. 867 00:47:43,200 --> 00:47:45,119 Really looking at the impact 868 00:47:45,120 --> 00:47:49,439 of environment on health and physiology. 869 00:47:49,440 --> 00:47:53,839 So my interest, just so you know, I own the trademark, lipstick. 870 00:47:53,840 --> 00:47:56,879 - OK. - And I'm about to go retail 871 00:47:56,880 --> 00:48:00,919 - with it later in the year. - Cool. - So this is of interest. - Yeah. 872 00:48:00,920 --> 00:48:05,679 Just want to make sure you've done 695,000 turnover in total? 873 00:48:05,680 --> 00:48:06,919 Yeah. 874 00:48:06,920 --> 00:48:09,679 So can you break that down so we can get an idea? 875 00:48:09,680 --> 00:48:12,599 So the last three years, in 2022, 876 00:48:12,600 --> 00:48:17,479 we did 139,000 with a net of 41, 877 00:48:17,480 --> 00:48:20,839 which obviously gave us a 29% net profit. 878 00:48:20,840 --> 00:48:23,559 And then in 2023, 879 00:48:23,560 --> 00:48:27,039 we did 143 turnover 880 00:48:27,040 --> 00:48:30,079 and 27,000 net. 881 00:48:30,080 --> 00:48:35,119 And then last year we did again 140 882 00:48:35,120 --> 00:48:38,920 and a 15,000 net profit. 883 00:48:40,320 --> 00:48:42,479 - Profits have been going down. - Yes. 884 00:48:42,480 --> 00:48:46,959 - Is that because of marketing? - No. It's a strategic decision by me. 885 00:48:46,960 --> 00:48:50,399 Because when we had that 29% net profit, 886 00:48:50,400 --> 00:48:52,879 I knew that the decision to become 887 00:48:52,880 --> 00:48:55,199 a really specialised, focused brand, 888 00:48:55,200 --> 00:48:57,519 you know, really supporting 889 00:48:57,520 --> 00:49:00,119 the professional retailers was working. 890 00:49:00,120 --> 00:49:03,079 But I'm, you know, a single entrepreneur, 891 00:49:03,080 --> 00:49:06,399 with not a huge amount of working capital 892 00:49:06,400 --> 00:49:10,759 and I needed therefore to prepare the business to scale. 893 00:49:10,760 --> 00:49:12,479 So I wanted to put in foundations 894 00:49:12,480 --> 00:49:14,599 in the last two years to help me do that. 895 00:49:14,600 --> 00:49:18,479 So I've got a new office, a part-time member of staff. 896 00:49:18,480 --> 00:49:20,399 We launched the new product, 897 00:49:20,400 --> 00:49:23,279 we did a rebrand and a refresh because I wanted to make sure 898 00:49:23,280 --> 00:49:28,400 the image was right for both clinic market as well as retail. 899 00:49:30,840 --> 00:49:32,319 You've done quite well. 900 00:49:32,320 --> 00:49:34,119 I mean, the product looks really great. 901 00:49:34,120 --> 00:49:35,719 Thank you. 902 00:49:35,720 --> 00:49:38,959 We do have, it just so happens, 903 00:49:38,960 --> 00:49:44,279 an experienced expert in the Den today with Jenna. 904 00:49:44,280 --> 00:49:46,999 My question is actually not just to you 905 00:49:47,000 --> 00:49:49,399 because I don't know a lot about this market, 906 00:49:49,400 --> 00:49:51,039 but it would be to Jenna. 907 00:49:51,040 --> 00:49:53,639 Are these sort of types of products widely available? 908 00:49:53,640 --> 00:49:57,039 - Is this already out there? - Yes. I guess that was how Rachel, 909 00:49:57,040 --> 00:50:00,479 I think that's what I'm trying to struggle with is, 910 00:50:00,480 --> 00:50:03,439 I can probably already find something similar. 911 00:50:03,440 --> 00:50:06,319 - Yeah. - Because it's a very crowded market. 912 00:50:06,320 --> 00:50:08,999 I think one of the things that's confusing me 913 00:50:09,000 --> 00:50:12,119 a little bit is that kind of vision of where you see the brand going. 914 00:50:12,120 --> 00:50:14,999 So like, is this going to be SPF 915 00:50:15,000 --> 00:50:17,399 and everything will be focused around SPF, 916 00:50:17,400 --> 00:50:19,799 or will it be more focused around lips? 917 00:50:19,800 --> 00:50:22,279 Like, how does the product range build from here? 918 00:50:22,280 --> 00:50:24,999 So we've got a few collections planned, 919 00:50:25,000 --> 00:50:28,119 so the SPF products are all part of the daily care range. 920 00:50:28,120 --> 00:50:31,239 The lip facial is also in the daily care range. 921 00:50:31,240 --> 00:50:33,799 There's then the targeted care range. 922 00:50:33,800 --> 00:50:36,279 This range will focus on supporting clients 923 00:50:36,280 --> 00:50:37,879 who've got inflammation. 924 00:50:37,880 --> 00:50:40,799 - You know, when they're on acne medication. - Solution base. 925 00:50:40,800 --> 00:50:44,639 You're going to have a daily for everyone, a solution based range. 926 00:50:44,640 --> 00:50:47,519 - And then? - And then third one would be 927 00:50:47,520 --> 00:50:50,399 - targeting sort of 40 and upwards. - OK. 928 00:50:50,400 --> 00:50:52,119 So if you had a magic wand, 929 00:50:52,120 --> 00:50:54,559 what beauty retailers do you see this brand, 930 00:50:54,560 --> 00:50:58,159 - just so I understand the vision. - Yeah. So I think the more 931 00:50:58,160 --> 00:51:00,839 premium end, definitely sort of Liberty's, 932 00:51:00,840 --> 00:51:03,879 Selfridges, Space NK, Sephora. 933 00:51:03,880 --> 00:51:05,879 But I think for, you know, Sephora, 934 00:51:05,880 --> 00:51:07,999 we would need to increase, you know, 935 00:51:08,000 --> 00:51:10,400 our kind of digital footprint first. 936 00:51:12,320 --> 00:51:14,879 Do your customers love the product? 937 00:51:14,880 --> 00:51:16,079 Yes, they do. 938 00:51:16,080 --> 00:51:18,599 - Do they tell people about the product? - They do. 939 00:51:18,600 --> 00:51:20,439 I'm not very good at sharing. 940 00:51:20,440 --> 00:51:22,119 So they love the product 941 00:51:22,120 --> 00:51:24,239 and they tell people about the product? 942 00:51:24,240 --> 00:51:29,519 So why for the last three years has the revenue been stagnant? 943 00:51:29,520 --> 00:51:31,359 I've almost never seen numbers like this 944 00:51:31,360 --> 00:51:33,839 where it's almost exactly the same for three years 945 00:51:33,840 --> 00:51:36,119 at 140K in revenue, three years in a row. 946 00:51:36,120 --> 00:51:39,679 Super consistent, and the reason being that I've invested 947 00:51:39,680 --> 00:51:42,439 in the infrastructure and the operations to get ready. 948 00:51:42,440 --> 00:51:45,519 And I've not been able to do that at the same time 949 00:51:45,520 --> 00:51:50,359 - as put money into, the sales and marketing. - OK. 950 00:51:50,360 --> 00:51:52,319 So one of the things investors look for in businesses 951 00:51:52,320 --> 00:51:53,719 when they're trying to invest 952 00:51:53,720 --> 00:51:55,279 is this thing called the growth profile. 953 00:51:55,280 --> 00:51:57,159 And the growth profile is essentially 954 00:51:57,160 --> 00:51:59,879 the history of the business and how it looks from 955 00:51:59,880 --> 00:52:02,359 a revenue or profit growth perspective. 956 00:52:02,360 --> 00:52:04,519 - Yeah. - If it's flat, 957 00:52:04,520 --> 00:52:07,519 it kind of suggests that the future could be flat. 958 00:52:07,520 --> 00:52:10,199 And I like businesses that have good growth profile, 959 00:52:10,200 --> 00:52:12,279 which is a challenge a lot of entrepreneurs face 960 00:52:12,280 --> 00:52:14,399 is when you're a solopreneur on your own, 961 00:52:14,400 --> 00:52:16,559 you have decisions you have to make. 962 00:52:16,560 --> 00:52:18,079 It's trade-offs. 963 00:52:18,080 --> 00:52:21,279 And the trade-off that you made was to focus on infrastructure 964 00:52:21,280 --> 00:52:24,959 and those things first versus the growth profile of the business. 965 00:52:24,960 --> 00:52:27,679 I think it's quite important to make a different decision, 966 00:52:27,680 --> 00:52:29,839 which is to focus on that growth profile, 967 00:52:29,840 --> 00:52:32,119 because that will give an investor the confidence 968 00:52:32,120 --> 00:52:34,039 that they have enough growth 969 00:52:34,040 --> 00:52:36,719 to get a return from the business in future. 970 00:52:36,720 --> 00:52:40,039 But the growth profile of the business is an amber flag for me, 971 00:52:40,040 --> 00:52:41,559 and I find it hard to see, 972 00:52:41,560 --> 00:52:43,799 based on the last three years and the current year, 973 00:52:43,800 --> 00:52:47,959 how an investor would get their 50K out and a multiple on the money. 974 00:52:47,960 --> 00:52:49,919 So for that reason, I'm going to say that I'm out, 975 00:52:49,920 --> 00:52:51,919 - but I wish you the very best. - Thank you. 976 00:52:51,920 --> 00:52:54,119 And Rachel, I'm going to be the same. 977 00:52:54,120 --> 00:52:56,719 You've created a great product. 978 00:52:56,720 --> 00:53:01,199 I'm struggling to see the size of the opportunity. 979 00:53:01,200 --> 00:53:04,239 So sadly, I'm going to say that I'm out. 980 00:53:04,240 --> 00:53:07,599 But, yeah, congratulations on creating a great product. 981 00:53:07,600 --> 00:53:09,360 Thank you. 982 00:53:11,520 --> 00:53:15,359 Rachel, I think you've hit a market and you really, 983 00:53:15,360 --> 00:53:18,279 really know your stuff and you explain it really well. 984 00:53:18,280 --> 00:53:22,519 But the truth of the matter is, you are in a highly contested space. 985 00:53:22,520 --> 00:53:26,599 This is readily available for me, and I buy it. 986 00:53:26,600 --> 00:53:29,039 So I'm afraid it's not an investment for me. 987 00:53:29,040 --> 00:53:30,800 - I'm out. - Thank you. 988 00:53:35,040 --> 00:53:38,239 - Rachel, hi. - Hi. - I think, I mean, obviously, 989 00:53:38,240 --> 00:53:41,439 I know what it's like to develop a beauty product, so just please, 990 00:53:41,440 --> 00:53:44,319 - well done. - Thank you. - The packaging is lovely, 991 00:53:44,320 --> 00:53:47,399 the branding is lovely, and it's really... 992 00:53:47,400 --> 00:53:49,319 It really does stand out. 993 00:53:49,320 --> 00:53:51,439 I think in terms of investment, 994 00:53:51,440 --> 00:53:55,959 where I'm at is, it's not something I feel like I want to invest in, 995 00:53:55,960 --> 00:53:59,239 mainly because it is probably too close to my current business, 996 00:53:59,240 --> 00:54:01,359 but more because I can't necessarily see 997 00:54:01,360 --> 00:54:04,399 the bigger vision in terms of everything you want to do. 998 00:54:04,400 --> 00:54:06,879 Yeah. But I would like to throw you 999 00:54:06,880 --> 00:54:09,279 a lifeline because I do think this is a good product. 1000 00:54:09,280 --> 00:54:13,439 I will help you get this product in front of Selfridges, Space NK, 1001 00:54:13,440 --> 00:54:15,119 Sephora in the UK, 1002 00:54:15,120 --> 00:54:18,319 so that you've got that step to entry 1003 00:54:18,320 --> 00:54:20,759 because you can tell how passionate you are. 1004 00:54:20,760 --> 00:54:23,519 I'm not going to invest, I am out. So, I am sorry, 1005 00:54:23,520 --> 00:54:25,279 but, yeah, I will help you do 1006 00:54:25,280 --> 00:54:27,439 that step and you'll be able to take it from the rest. 1007 00:54:27,440 --> 00:54:29,399 - OK, thanks. - That's a great offer. 1008 00:54:29,400 --> 00:54:33,039 Yeah, it's an amazing offer. Thank you so much. 1009 00:54:33,040 --> 00:54:38,079 - Rachel, you are investable, but that's not. - OK. 1010 00:54:38,080 --> 00:54:42,839 And that's where I'm torn. And I'll tell you why I'm torn. 1011 00:54:42,840 --> 00:54:48,119 I am launching a lipstick retail concept later in the year. 1012 00:54:48,120 --> 00:54:49,679 OK. 1013 00:54:49,680 --> 00:54:56,159 Lip care is definitely a sector that could be included. 1014 00:54:56,160 --> 00:55:00,559 What I'm interested in is your knowledge 1015 00:55:00,560 --> 00:55:04,239 and trying to think how I can kill two birds with one stone here. 1016 00:55:04,240 --> 00:55:07,679 How you can help me with the knowledge and help your business. 1017 00:55:07,680 --> 00:55:10,639 - Yeah? - Yeah, that would be exciting. 1018 00:55:10,640 --> 00:55:15,360 - So, your offer was 50,000 for 15%? - Yes. 1019 00:55:17,520 --> 00:55:20,320 I'm willing to give you the £50,000. 1020 00:55:23,160 --> 00:55:25,280 But I would want 35%. 1021 00:55:28,760 --> 00:55:32,839 35 obviously is quite high for me as a brand. 1022 00:55:32,840 --> 00:55:36,799 And I know that I'm most likely going to be multiple rounds 1023 00:55:36,800 --> 00:55:39,919 to move forward, to take the brand to where I want it to go. 1024 00:55:39,920 --> 00:55:42,559 So that's quite challenging. 1025 00:55:42,560 --> 00:55:45,279 Would you be prepared to reduce that offer 1026 00:55:45,280 --> 00:55:46,999 if you got your money back? 1027 00:55:47,000 --> 00:55:52,600 Well, if I got my money back within 12 to 18 months, down to 25%. 1028 00:55:54,440 --> 00:55:56,279 OK. 1029 00:55:56,280 --> 00:56:00,880 - Would you be prepared to drop to 20? - No. 1030 00:56:06,120 --> 00:56:07,560 25? 1031 00:56:09,480 --> 00:56:13,280 30% and I'll go down to 25 when I get my money back. 1032 00:56:15,240 --> 00:56:16,800 OK. 1033 00:56:17,800 --> 00:56:20,079 That's a fantastic offer. 1034 00:56:20,080 --> 00:56:23,679 I would be happy to work with you, excited to work with you. 1035 00:56:23,680 --> 00:56:25,479 And definitely happy to accept your... 1036 00:56:25,480 --> 00:56:27,319 Great, great, great. 1037 00:56:27,320 --> 00:56:29,399 - We're going to be... - Yeah, we can do that. 1038 00:56:29,400 --> 00:56:31,319 - Yeah, I think so. - OK. 1039 00:56:31,320 --> 00:56:32,839 It's a win for Rachel. 1040 00:56:32,840 --> 00:56:34,639 Thanks for all your time. 1041 00:56:34,640 --> 00:56:36,359 Well done. Thank you. 1042 00:56:36,360 --> 00:56:38,719 She walks away with an offer of support 1043 00:56:38,720 --> 00:56:41,559 from skincare savant, Jenna Meek. 1044 00:56:41,560 --> 00:56:44,519 But it's Touker Suleyman who's put his money 1045 00:56:44,520 --> 00:56:48,799 where his mouth is, securing a stake in the business. 1046 00:56:48,800 --> 00:56:50,040 Really excited. 1047 00:56:52,800 --> 00:56:56,559 Just fabulous to get investment from Touker. 1048 00:56:56,560 --> 00:57:00,279 And, yeah, also absolutely lovely offer from Jenna. 1049 00:57:00,280 --> 00:57:02,600 So I'm super grateful and humbled. 1050 00:57:05,640 --> 00:57:07,559 How exciting! 1051 00:57:07,560 --> 00:57:10,599 It was her that I really loved. 1052 00:57:10,600 --> 00:57:13,799 I'm investing in her as an entrepreneur. 1053 00:57:13,800 --> 00:57:15,440 Well, you've got an expert. 1054 00:57:25,640 --> 00:57:28,839 Dragons' Den will return later in the year. 1055 00:57:28,840 --> 00:57:31,279 - Perfect. - I think this is the first time 1056 00:57:31,280 --> 00:57:34,999 in the Den there's been more females than men. 1057 00:57:35,000 --> 00:57:38,079 I think this is what I've been looking for for a long time. 1058 00:57:38,080 --> 00:57:40,239 I just came out of being your worst nightmare. 1059 00:57:40,240 --> 00:57:43,479 - I'm about to go back in again. - You're sassy. I'm like, "Wow!" 1060 00:57:43,480 --> 00:57:45,679 - Go on, go sell more. - Is that the way you work? 1061 00:57:45,680 --> 00:57:47,639 Is that what you guys do as investors? 1062 00:57:47,640 --> 00:57:50,279 I think this is a wonderful opportunity and that's why 1063 00:57:50,280 --> 00:57:51,759 I'd like to talk to Tony. 1064 00:57:51,760 --> 00:57:54,399 Hello, Peter. I was hoping you'd say that. 1065 00:57:54,400 --> 00:57:56,239 Am I happy to share with Peter? 1066 00:57:56,240 --> 00:57:58,639 My business instincts tell me I should not invest. 1067 00:57:58,640 --> 00:58:00,400 But my heart tells me I should. 1068 00:58:02,560 --> 00:58:04,119 You're setting us all off. 1069 00:58:04,120 --> 00:58:06,679 Come here, mate. I'm so proud of you. 1070 00:58:06,680 --> 00:58:09,399 Wow, Gary. You teed that up as if we were team-mates. 1071 00:58:09,400 --> 00:58:12,599 - And then... - That's the most guilty I've ever felt in my life. 1072 00:58:12,600 --> 00:58:15,000 Yeah. No, it's great to have you back, Gary.