This weeks pitches on Dragon’s Den were:
- Tangle Teezer - A hairbrush to untangle hair. He was looking for £80K in return for 15% equity. Unfortunately he was lacking in business acumen and hadn’t really made the most of the 300 samples he distributed. If he’d had more and costive feedback it might have seemed viable. Great attitude as he left though, very positive.
- Takeaway British Food - Cottage pie delivered to your door. They wanted some money to start a franchise chain based on the idea of delivering traditional British food to your door. They believed they could do this with Franchisee’s investing £60K each to make a yearly return of £24K. Personally I have a pretty low regard for anyone that wants to start a franchise without a proven successful pilot operation, ideally several successful pilots. I think their franchisees would loose out - there’s a reason Domino’s franchises cost nearly £200K and I’m willing to bet they offer a much high Return On Investment (ROI).
- Cuddle Dry - I really don’t see the problem and I’m definitely part of their target market - it’s always me that bathes my son and I never have a problem drying him. However they’ve managed to get 40 independent stores and Mothercare to stock it so it seems there might be a market. They rather fell down on their numbers though, but failed to point out the obvious solution - lowering the production costs which seemed high at £7.5 per unit. They were offered the investment by Debora Mead on for 45% and James Caan for 35% but turned down both, I think they made the right call and should focus on growing it themselves.
- Peaches of London - Underwear with poppers, we didn’t see much of this pitch and it got rubished. My wife however pointed out that the product might have some benefit to pregnant women or disabled people, so maybe the entrepreneur should look at those markets.
- R&B Nursery Rhymes - Looks fun, but at £35K growing to £50K in year three it’s definitely a lifestyle business.
- Shuc - A portable shower head holder. Like many of the dragon’s I just didn’t see the problem this solves. I don’t believe there is a big enough market to achieve the 8K units per month sales she was predicting.
- Smelly Wheelie Bins - They didn’t seem to know what they were pitching, too short a pitch to really say much else.
- Electronic Luggauge Tags - A solution looking for a problem, but I suppose it might sell a few to gadget lovers.
- Concentrate - I think he has some great ideas and could do really well. I think it’s obvious he needs some help refining the presentation to suit the right market, but I can see me buying some of his products and I can definitely see my wife buying them for our son. I think Peter Jones got a steal at 100K for 40% if he offers the right marketing and sales support to make this business work.
So what did you think of them?
This blog is about business opportunities and ideas that I spot, think of or hear about and think are useful and interesting. It is intended to provide ideas and inspriation for you to help you find the right business idea for you to then grow it into a successful business.
The Concentrate guy looked scary. The backpack/chair padding reminded me of the japanese woman’s backpack that makes a kid look like a fire hydrant that was on Have I Got News For You on Friday. His products looked okay but bit too expensive for most. Might get away with it in the middle of London but could do to halve his prices for the rest of the country.
I think there’ll be enough people that’ll pay that kind of money.
This was just posted on UK Business Forums http://www.youtube.com/watch?v=Uxi8dbRVshI
Good isn’t it.
Does anyone have any idea about what happened to companies the Dragons invested in say 12 month ago or even longer?
I believe the new BBC book covers “where are they now” for several of the investments. They also run the occasional special in which they do a follow up. Most recently the followed up on Igloo and Razzamatazz.
Reggae Reggae sauce was in Sainsbury’s and supposedly going strong.
Reggae Reggae sauce is great, I just wish there was a Sainsbury’s near us or that Tesco/Adsa stocked it.
Hi i have read the article about the smelly wheelie bins
it mentions they didnt seem to know what they where talking about,well all i can say is that we definitely knew what we where presenting to the dragons as we had been in front of them for 40 minutes and unfortunatly as soon as we uncovererd the wheelie bin i could tell we where wasting our time and this was before they had seen the wheelie spray,Theo actually said some nice things and said he believed there is a market for this product (not sure its the next cats eyes) he said but and the BBC edited this and much more out but we kind of knew this could happen and unfortunatly the prototype we had just picked up 2 days before we where filmed wasn,t made to our design and with no time left to rectify it .As an exsperience we shall never forget it and i would recommend to other people go and have a go but don,t take it to seriously because it can knock your confidense as for us we have managed to bounce back.We believe they didn,t get the wheelie bin liquid dispenser ,simply because we just don,t see any of the dragons putting there own rubbish in there own whellie bins like most everyday people and they did go on about selling a solution to go with it but most people allready have the best ingredient under the kitchen sink ie (bleach or disinfectant) and they didn,t even ask us unit cost price ,retail price , market size, competitors,and that we will be the only patented liquid dispencer for a wheelie bin on the market that does solve the odour and hygene isues that the public have to contend with.
Many thanks Paul chisholm (dragons den participant)
Paul,
Are you suggesting people put bleach in your dispenser? If so what is the environmental impact of that?
Regards, John
Hi John,yes we are following local councils recomendations that if you have a problem with maggots,flys and the terrible odours and is also concerned with hygene/Bacteria within your wheelie bin
the best solution and most effective is
diluted bleach or disinfectant which most people
already have and use.the dispenser releases
only small shots of whatever the user chooses
to use which quickly absorbes into the waste
and eliminates the odour it also naturally
evaporates and drys up over the 2 week period
leaving only the fresh aroma.When you think of the many millions of wheelie bins that could have dog waste
or baby nappies and many other unpleasant
things in them and councils soon to faze out plastic bin bags can you imagine the many millions of
wheelie bins releasing air born bacteria and
odours into our enviroment we hope the
WHEELIE SPRAY is seen to be an effective deterrant
in the control of bacteria/odours and could only
be a positive regarding public hygiene and the enviroment.
I would be concerned about the environmental impact of people placing extra bleach into their bins. I would not expect a local council to be experts on the matter either.
Hi John
We also spoke with a well respected infection
control manager at our PCT HOSPITAL who shared our
concerns who also explained the most effective
means of eradicating bacteria and disease is
bleach and disinfectant, used in huge amounts
in the public and private sectors
and with no proven negative impact on our
enviroment, after its use is discarded.
So do you think everyone should stop useing
disinfectants and bleach to fight disease
and bacteria.