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Dragons' Den digest - Week 6
Dragons' Den digest - Week 6
August 17, 2010
If you missed last week's, catch up here and below you will find the highlights of episode six.
Quote of the Episode: "Problem: Doesn't make money. Solution: I'm out." Peter Jones
Idea 1
Product: Peel Engineering - The world's smallest production car with an electric engine
Investment sought: £80,000 for 10 per cent
Handling: They have an initial product but too many 'flights of fancy' revenue streams. Requires focus and a stronger business proposition.
Outcome: A hard fought negotiation saw them secure £80,000 for 30 per cent of the company. James Caan also secured himself one of every design of the vehicles.
Verdict: With a strong business partner and savvy investor, the pair could make a good go of their business.
Idea 2
Product: Angel Cot - a multi-purpose baby unit.
Investment sought: £150,000 for 40 per cent
Handling: A relatively straight forward presentation suddenly descended into a ridiculous pitch with the second half being performed through the medium of song. Product was trying too hard to be all things.
Outcome: No investment
Verdict: Pitch poor and then there was the singing...
Idea 3
Product: Advanced Building Designs - A variety of products for the plumbing and building industry
Investment sought: £89,000 for 15 per cent
Handling: A beautifully choreographed presentation. They would be great on a TV shopping channel. The product was deemed unnecessary and 'fixing' a problem that did not exist.
Outcome: No investment
Verdict: James Caan said, "You are just going to burn my money"
Idea 4
Product: Funky Moves - Interactive play equipment
Investment sought: £120,000 for 20 per cent
Handling: Set the cat amongst the pigeons revealing costs for tooling to create more stock and disclosing that he had received £140,000 in Government grants to establish the product. Some Dragons were well and truly riled. Duncan threatened to go offshore.
Outcome: A joint investment from Theo and Peter saw Funky Moves give away 50 per cent of his business in order to secure £120,000
Verdict: Once Peter Jones saw the bigger picture, the investment was always going to be forthcoming.
- You can replay the episode on the BBC's Dragons' Den micro site
What did you think of the episode?
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Comments
The Plumbing tools were great, I went straight on ebay and ordered the tapsplitter, it arrived within 48hours and is exactly what it claims to be, 27 years of messing about with dodgy taps, my work is getting easier by the day! Hard luck dragons, I think your flame has gone out :-)
The singing was both excruciating and hilarious. It was like watching The Office...
Other than that, I thought the Dragons generally gave some sound advice. Telling the inventor of the plumbing problem-solvers to package them together was a decent idea, although I don't recall any of the Dragons asking them if they knew who their market was - which could have opened up the possibilities. Personally, I thought these were very sellable, if pitched to the right people in the right way.
Telling the Peel Engineering guys that they needed to focus on one thing at a time was also sound advice. That's another product/brand with a lot of potential - they just need a sound strategy. I liked their negotiating technique, too - I guess these guys are better salesmen than they are strategists.
Well another interesting DD. Thought that the Peel car was interesting, and the offer from James Caan was a triumph, because if he can't sell them to his rich friends in Monaco, then they ain't gonna sell!!
He was absolutely right to see the merchandising 'sell-on' from such a product. Should work out well methinks.
Angel Cot was an attempt to solve a problem, by making it even more cumbersome. Not sure the low cost airlines would be pleased to see that being unfurled in-flight!
The Plumbers really didn't get the message. Classic example of an 'inventor' inventing something that no one really wanted. Back to the drawing board I suspect.
At first Funky Moves looked to me to be 'a joke', and so did some of the Dragons. Duncan's rant about government grants was uncalled for - it wasn't the guys fault that the system is wrong.
I was left intrigued as to what it was that Peter & Theo had seen, that no other Dragons had seen, and I certainly can't see. But I suppoose that is why they are Dragons & I am not!!
Overall, a good night at the office, but not the most rivetting!
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