Sign in
Courtesy navigation
Search
Dragons' Den digest - Week 10
Dragons' Den digest - Week 10
September 13, 2010
If you missed last week's, catch up here and below you will find the highlights of episode eight.
Quote of the Episode: "I have a horrible feeling that you don't know how to make a profit." Deborah Meaden
Idea 1
Product: Abiie Buggy (My Babiie Ltd) – buggy with an incorporated changing table.
Investment sought: £100,000 for 10 per cent equity
Handling: Straightforward pitch, stuck to the basic facts. Adam is clearly ambitious, and confident when answering questions about his turnover. Says he owns the company but when questioned it is revealed that Ken, who he works with in the USA, owns the designs and has worldwide distribution rights while Adam has UK rights on a three-year contract providing he meets sales targets. The Dragons aren't impressed by this. Before declaring himself out, Peter Jones sums it up by saying: "I don't believe in you".
Outcome: No investment.
Verdict: A promising start but things got more and more confusing after the questioning started.
Idea 2
Product: GaBoom – online user-to-user video game exchange.
Investment sought: £60,000 for 11 per cent equity
Handling: Confident, calm, well-rehearsed pitch. She handles questioning well and with a smile. Claims her website provides faster exact search results than any other website, which Duncan points out is because it's the only site of its type! Peter Jones highlights a flaw in her business: physically handling every game will be very costly, especially as the business expands. The Dragons think she's a very promising entrepreneur and are confident she'll have a successful future.
Outcome: No investment but a potential job offer from Peter Jones.
Verdict: A confident pitch and a promising young entrepreneuer.
Idea 3
Product: Media Displays – mobile advertising unit.
Investment sought: £80,000 for 25 per cent equity
Handling: Strong, polished presentation. Theo Paphitis encourages him to be honest about working from his home office and employing his son. Answers questions clearly and confidently until he shares a heated exchange with Deborah Meaden about whether the business is profitable. Theo points out that his business model as it stands doesn't work and declares himself out. James Caan isn't sure about the business but likes Ian Tayor, the entrepreneur, and believes that he could make it work so makes him an offer.
Outcome: £80,000 for 45 per cent of the business (this amount will drop if certain targets are met).
Verdict: A good result after some tricky questioning from the other Dragons.
- You can replay the episode on the BBC's Dragons' Den website
What did you think of the episode?
Related articles:
Founding partner
Follow us on:
Marketing Donut
Small business marketing - free advice, tools and resources | Marketing Donut
Copyright © 2009-2012
Comments
And so we reach the end of this years series. Three pitches, followed by a review of some of the 'best bits'!
The first pitch - Abiie Buggy, looked promising, but the old adage goes - "You can fool some of the people some of the time, but you can't fool all of the people all of the time" to which you then add - "..and you can't ever fool the Dragons!"
The guy starts off by telling us about a buggy, which looks goods as it incorporates a changing mat. Then under questioning he talks about - 'a highchair' - which nobody has seen or heard of. He tells us he owns 100% of the company, and then tells us about 'Ken' - whose Ken?
By now we are beginning, either to smell a rat or have lost the will to live! From hereon in it goes downhill, until we finish up with a salesman who has to meet sales targets that are set by 'Ken' who holds all the patents & the worldwide selling rights, except, we think the UK and possibly Europe.
The Dragons run for the hills, and the rest of us reach for the brandy bottle!
Next we had GaBoom - a confident young lady, who has quit University, to run a website dealing in swapping computer games. Now me, I only know games like Ludo & Snap, so I am already out of my depth.
But, the pitch is confident, if a little laboured in delivery, and all the Dragons like the young lady, but not her business idea. Peter Jones ends the session by offering her a job if she ever needs one in the future. Go girl! - ring him up tomorrow!
And so to the last pitch of the series - Media Displays. Now me. I am in marketing & event management, so I am interested already. The idea sounds good, different & possibly niche market related.
The fact that the guy has no P&L accounts, no business plan is a bit of a problem, but his confident performance is enough to persuade James to put his hand in his pocket.
Quote of the week - "Why are you asking for a reduction in equity?" asks James Caan. And, here is the quote - "I'm negotiating" Brilliant!!
There then follows a reprise (nice word reprise!) of the series, and the fond farewells until next time.
However, don't despair - "Dragons Den - Where are they now?" is on this Friday at 9pm BST.
I am glad to have been able to comment over the last few weeks about Dragons Den, and thank Marketing Donut for giving me the opportunity.
I can be found at www.imageandprofile.com.
Until the next series - have fun & keep smiling
Add a comment
Not registered? We'll create a new account for you when you add your comment