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00:00Tonight on Dragon's Day, DJ hit it!
00:06Alright!
00:07Do we have to start singing karaoke, do you?
00:09Oh yeah, we're in for a show.
00:11Why are you emotional?
00:13I auditioned or put in an application eight times this season.
00:16Persistence.
00:17Love it.
00:18I think I'm just excited to be here.
00:20The money, like there's a lot of money that you must have put out.
00:24$292,000.
00:25Where'd you get that much money from?
00:27Yeah.
00:28I've been working, we have property.
00:29Please tell me you're making money then.
00:32The full set is about $65 and it retails for $550.
00:36$550?
00:37Yeah.
00:38Big margins.
00:39Whoa!
00:40Some rich mamas only buying this.
00:59I'm sweating in places I was never used to sweating in.
01:06So, alright, let's go.
01:08Let's see this man.
01:09First up, these friends from Vancouver say their bold beverage brand is ready to make a splash.
01:15Hello dragons.
01:16Hello dragons.
01:17My name is Felix Chen.
01:18And my name is Rudy Pham and we're from Vancouver, British Columbia.
01:21We are seeking $100,000 for 10% of our business, Golden Triangle Beverage Company.
01:26For many Asians like ourselves, green tea is more than just a drink.
01:29It's a part of our culture.
01:31So when a karaoke bar in Hong Kong first mixed whiskey and green tea in the early 2000s, it wasn't surprising that it quickly exploded across Asia and then the rest of the world.
01:40That's where I first discovered it too.
01:42At karaoke nights.
01:43Singing Backstreet Boys, Spice Girls and Chinese classics like Tonghua.
01:47Always with the whiskey or cognac green tea in hand.
01:50It wasn't just a drink anymore.
01:51It was a part of who we were.
01:53Now, a more elevated version using cognac quickly emerged as a go-to for a more premium experience.
01:58Now that drink today is so iconic and so popular in our community that it's been dubbed as the Asian Gin and Tonic.
02:04Now, there was a big problem though.
02:05We couldn't find this drink anywhere.
02:07No one had brought this cultural staple into the ready-to-drink market.
02:11And that's why we created XXXOG, a premium ready-to-drink cocktail consisting of real jasmine green tea, local Canadian honey, and French cognac.
02:22With a slight level of carbonation for an extremely refreshing and aromatic finish.
02:26Sounds delicious.
02:27While others may try to replicate it, nobody is building the brand or experience the way we are.
02:33DJ, hit it!
02:35All right!
02:36Do we have to start singing karaoke too?
02:38Thank you!
02:39Woohoo!
02:40Golden XXXOG!
02:41XXXOG!
02:42XXXOG!
02:43XXXOG!
02:44Drink like an XOG!
02:45Oh yeah, we're in for a show!
02:50XXXOG is sold online and at 80 locations across Alberta and BC.
02:56It sells for about $5.50 a can or $21 for a four pack.
03:00Cognac green tea!
03:01Ooh!
03:02The end of Vodka Red Bull!
03:04Hello XXXOG!
03:05Yeah, exactly!
03:06All right!
03:07I have never heard of this.
03:09Ever!
03:10But I can't wait to try and you're missing out!
03:11We're happy to introduce it to you guys!
03:13Cheers to 20 years!
03:14Cheers!
03:15Cheers!
03:16Cheers!
03:17Cheers!
03:18XXXOG!
03:19What do you think?
03:22It's different having it carbonated, I will say.
03:24Yeah, it gives this kind of refreshing kick to it and a lot of people have really enjoyed
03:28it.
03:29But isn't that a problem though?
03:30Because you can just drink this all night.
03:31We want you to drink more!
03:32A lot of people when they try it for the first time, they say, that's dangerous.
03:36Yeah, it is dangerous.
03:37It tastes very nice, it's very refreshing.
03:39It's like it's its own thing for sure.
03:41Yeah.
03:42I gotta ask you about the name.
03:44XXXOG!
03:45XOG stands for Extra Old Original Gangster.
03:48Yeah.
03:49Of course!
03:50They don't know this stuff!
03:51Even I knew that!
03:52They don't know this stuff!
03:53Yeah, so XO is to reflect the premium ingredients such as cognac.
03:58Right.
03:59So the OG pays homage to that.
04:00Triple is all about leveling up the taste and bringing it back to the present.
04:04Where do you make all this?
04:05We produce it in Vancouver.
04:06We have a co-manufacturer that does all the production for us in East Van.
04:10Felix and Rudy, are you guys friends?
04:12Are you relatives?
04:13Yeah, I hope so.
04:14How'd you guys get together?
04:15A mutual friend essentially introduced us and we kind of went out a few times and partying.
04:19A lot of drinks.
04:20Yeah, and I was looking at this guy, I was like, he's got a good vibe.
04:23I think we would have a lot of fun on a trip.
04:25So I was just like, hey man, would you ever be interested in traveling with me?
04:28Yeah.
04:29And then a week later, we ended up going to Mexico.
04:31Mexico.
04:32We went to EDC Mexico, Ecuador and the Galapagos Islands.
04:34Ecuador and the Galapagos Islands.
04:35How did you afford all that?
04:36I would just say like a typical millennial.
04:38We're not buying a home anymore, but at least we had experienced life.
04:41Wait, were you working somewhere?
04:43Did you save money?
04:44Yeah, we were working.
04:45Money saved up.
04:46What were your jobs?
04:47Sales for insurance.
04:48I've been doing that for almost a decade now.
04:50Okay, and you?
04:51Yeah, so I have an engineering background.
04:53So I've worked like five years in the consulting field, like in Alberta, like oil and gas,
04:58doing design, project management.
05:00Engineer to alcohol.
05:01That's my story.
05:02When did you guys actually start the business and get the product?
05:06In August of 2022.
05:07And then we finished production and had our first can, like canned, in September of last year.
05:14So 2024.
05:15Wow, that took a while in R&D and in finding a co-packer.
05:19Yeah, I mean, we started knowing absolutely nothing about the industry.
05:22How much does it cost to make?
05:23Per can is $1.55.
05:26Okay.
05:27And we sell it to the wholesalers at $2.07.
05:32Ooh, that's no margin.
05:34So yeah, so our gross margin is 25%.
05:37And I understand a healthy margin is between 40 to 50%.
05:40I would say those margins is the floor, not the ceiling.
05:44Right?
05:45So that's based on our first production run.
05:47No price breaks.
05:48Yeah.
05:49Freight was expensive because we're buying small quantities.
05:51We have no scale.
05:53How have the first nine months gone?
05:55In the last nine months, we've done $40,000 in sales.
05:57It's a slow bill.
05:58So really from January is when we actually had a little bit of decent distribution coverage.
06:03So I think we have a lot of room to go.
06:05How much have you invested?
06:06Put in $200,000 between the two of us.
06:08So we bootstrapped the whole thing.
06:10Of your own money.
06:11Yeah, bootstrapped the whole thing, yeah.
06:12Why on earth do you think this is worth a million dollars today?
06:16Just a nice round number?
06:17No, no.
06:18We put some thought into it for sure.
06:20So we've developed the proprietary formula.
06:24We've done the branding.
06:25We have all the IP.
06:26Those are all intangible assets that you can't really put a value on.
06:29You can.
06:30For an investor, zero.
06:31Sure.
06:32Literally.
06:33Sure.
06:34It's worth nothing to me unless it's selling, right?
06:36Yeah.
06:37And I think at an early stage like this, it's also important to look at the momentum that
06:41we have.
06:42And also, you know, you're investing in founders as well.
06:44So for the outside funding, we're going to be raising at a $4 million valuation.
06:48So we're giving you guys a 75% discount because we see your value.
06:52You want to raise at a $4 million valuation.
06:54It's going to happen.
06:55Yeah.
06:56Yeah.
06:57But you guys got to create a category.
06:58Like, you have to educate everyone on what this drink is, why it's so good.
07:02Yeah.
07:03You guys have absolutely infectious energy.
07:06I actually think you have a great partner on the panel.
07:10If Manjit doesn't give you a deal, I will come back in.
07:12But for now, I'm out.
07:15I think a key here is if you can figure out first mover advantage so that someone goes
07:20into a bar and goes, I want a XXX OG, which means a cognac and green tea, somehow owning
07:26that I think is going to be key.
07:28I agree with Michelle.
07:29You got a partner here that could do way bigger things than I ever could.
07:33I'm going to be out.
07:36Got $400,000 at a $4 million valuation.
07:40So I'm not sure I'm understanding why you're prepared to do this at a million dollars.
07:45I can counter that.
07:46We could snap our fingers right now and have every potential customer try this drink and
07:52have distribution nearby so that they could go buy it.
07:55I think we're doing $350 million in sales for sure.
07:58And I think there's some really good strategic partners on this panel that will get us there.
08:03Yeah.
08:04The partnership is way more valuable to us than the $100,000 at this point.
08:06We understand that.
08:07Good answer.
08:08Good answer.
08:09I'm going to be like Michelle.
08:10I'm going to sit out.
08:11If Manjeet doesn't make you an offer, I'll come back in.
08:15Not too much pressure, Manjeet.
08:16Yeah, yeah, yeah.
08:21Yes, you guys are fun.
08:22But if you really want to make a dent in the space, it's time to get serious.
08:26You need to bring your costs down.
08:27You need to get control of your manufacturing.
08:29You need to get distribution.
08:30And you're going to have to spend a lot of money to do that.
08:48I like it.
08:49I think that it's a unique product.
08:51Yes, you guys are fun.
08:52But now if you really want to make a dent in the space, it's time to get serious.
08:57Yeah.
08:58You need to bring your costs down.
08:59You need to get control of your manufacturing.
09:01You need to get distribution.
09:02And you're going to have to spend a lot of money to do that.
09:05I will offer you $100,000 for 20%.
09:13We Shell Hospitality, our partner in that business is the largest nightclub owner in Toronto.
09:19And so I'm going to make you an offer because I think that I can totally open up a ton of doors.
09:25So I'll do the $100,000 for 15.7% of your company.
09:2915.7?
09:30Yeah.
09:31Okay.
09:32Essentially, 40% of your valuation, knock it down by 40%.
09:35That's the offer.
09:37Would you be willing to work together at $100,000 for 20%?
09:42No.
09:43No.
09:44No.
09:45No.
09:46No.
09:47Okay, we'll take a deal then.
09:48Hard negotiating.
09:49Thank you so much.
09:50Thank you so much.
09:51No, no
10:01Okay, we'll take you do that
10:08Thank you so much
10:10You guys folded way too quickly
10:21There's a little lightsaber
10:23Oh my gosh
10:25Great pitch, good job
10:29That was good job
10:31Oh my goodness
10:33That was crazy
10:35That's the craziest thing I've ever thought
10:37Hi, I'm Karen Dana Jaya
10:52I'm the co-founder and CEO of Bloom
10:54I was on in season 17
10:57Hello dragons
10:58Our mission at Bloom is lattes done better
11:01Excited
11:02Our blends are organic
11:04Totally refined sugar free
11:06And are low cap or no caffeine
11:08Having their reactions be so positive to the business just felt amazing
11:12What's the total revenue?
11:13In 2021 we did 7 million in revenue
11:16What?
11:17Wow
11:18Good for you Karen
11:19Congratulations
11:20Thank you for hosting
11:21That's amazing
11:22Thank you
11:23One of the biggest pieces of advice that I got in the den
11:26Was actually something Robert said
11:28This is what great partners do
11:30They understand their weakness
11:31And they find another great partner that compliments them
11:34I really appreciate that
11:36It's something that I thought a lot about
11:38And have really brought into my team at Bloom
11:46Before the den we were in about 120 stores in Canada
11:50And we had a team of 5 or 6 team members
11:53Now we're on track to do 35 million in sales
11:57We're in over 6,000 stores
11:59We're one of the best selling products on Amazon
12:01Cheers!
12:02Cheers!
12:03The business has grown about 500% since we were in the den
12:06And now we're a team of over 20 people
12:08We've also expanded into new product lines
12:11We launched Superbelly
12:12Which is a gut building hydration blend
12:14I love how they turned out
12:16When you think that I started by blending the blends in my kitchen
12:21So when I go to a co-packer
12:23And I see we're like on 5 different lines
12:25And we're packing pallets for Costco
12:27We've like totally taken over
12:30It's emotional
12:32We did it
12:33On our way to Costco
12:34Let's go
12:35All right
12:36Let's go
12:37Today is the day
12:38This is really big
12:39Oh my god
12:41We've been working on Costco for months now
12:46We have to make sure it's a success and support it
12:48Enjoy it
12:49Well thank you so much
12:50Thank you
12:51I'm gonna give it a try
12:52Good luck
12:53I delivered product out of the back of my car
12:55For I think the full first year of Bloom
12:57I know how hard you have worked on it
12:59And to see it here today
13:01It makes mom and dad really proud
13:03Thank you
13:04I appreciate it
13:05It feels so good to reflect back
13:08But it feels even better to look to the future
13:11Because I know the impact Bloom can create
13:17Krista, do you design this all yourself?
13:19Like
13:20Yes
13:21Why is that funny?
13:22That necklace looks great on you
13:23Oh thank you
13:24You look gangster
13:33I'm here to brighten the world
13:42The nation
13:43All of Canada
13:44I hope little girls watching this
13:47Believe in any of their dreams
13:50No matter how big, how small
13:51To believe in them
13:52That they are made for more
13:53Next
13:54This colourful entrepreneur
13:56Is turning bold jewellery
13:57Into wearable words of affirmation
14:00Hello dragons
14:01Hello
14:02My name is Krista Lee Curtis
14:05I am from Craven, Saskatchewan
14:08Yay!
14:09The booming metropolis
14:10The village of 222 people
14:13Whoop whoop!
14:14And I am here asking for $50,000
14:19For 10% of my company
14:21I was sick and tired
14:25Of feeling like I was not enough
14:28Not good enough
14:29Not smart enough
14:30Not pretty enough
14:31Not skinny enough
14:33Hell, not successful enough
14:35So I thought
14:37Dang girl
14:39Come on
14:40If you can sink this
14:42For so long
14:44Right from all of your teens
14:46Into adulthood
14:48Into entrepreneurship
14:50And then into motherhood
14:51That you're not enough
14:52Or good enough
14:53Why can't we have what's on the other side?
14:55Like, you deserve that
14:57Of course
14:58So, dragons
14:59That's how DBL was born
15:02Joyful jewellery
15:04Make your mark
15:06Your daily dose of vitamin DBL
15:09I'm here to brighten the world
15:12With more love
15:13With more kindness
15:14With more confidence
15:15With more confidence
15:16For women
15:17And more jewellery
15:18I have strategically designed
15:20Each piece
15:21To be double sided
15:22To have either a beautiful
15:25Mantra or message
15:26Or bright, bold, beautiful colours
15:30That evoke joy
15:31Okay
15:32This is a $3 billion industry in Canada
15:36And I want to disrupt it
15:38Krista, can we see some?
15:39You have three women
15:40That love jewellery on this panel
15:41Okay, well perfect
15:42Take a sneaky peeky
15:43We got
15:44Oh yeah
15:45I got daughter
15:46Me on resin
15:47Yes
15:48Oh, now I know what DBL is
15:49Dream, believe, live
15:51Yes
15:52That's beautiful
15:53This is my big dream
15:54That I've had since I was five years old
15:55Some of them have uplifting messages
15:57Um, trigger warning
15:58Some are cheeky
15:59F being perfect
16:00Mine just says
16:01Make your mark
16:02Make your mark
16:03Baby
16:04I could see my 12 year old definitely
16:06Wearing the pink one
16:07And then flipping in
16:08And wearing the green one
16:09I don't know
16:10To be honest
16:11If I would wear it
16:12Totally
16:13And just be
16:14We're all dressed up beautiful today
16:15But I find what even pops more with them
16:17Is just with a casual outfit
16:18Only you could make a gown
16:20And a baggy t-shirt look good
16:22This is actually my 2006 grad dress
16:24That I thought deserved another dance
16:26Of course it does
16:27We're all seeing it again today
16:28Love it
16:29So, thank you
16:30Krista, do you design this all yourself?
16:33Like
16:34Yes
16:35Why is that funny?
16:36That necklace looks great on you
16:37Oh, thank you
16:38You look gangster
16:40Thank you
16:41Did you make all this in Criven?
16:43I do
16:44You do?
16:45I hand draw everything
16:46I have a beautiful designer
16:49I don't know how she gets my sketches
16:51They are like
16:52Very close to about
16:53How a four year old would draw
16:55And so how many pieces
16:56Do you have in the line?
16:57Um
16:58Right now we have
16:59About 42 different pieces
17:01Necklaces, earrings
17:02We have bracelets
17:03We have anklets
17:04We have anklets
17:05And so what's the cost on them?
17:07So our favourite piece
17:08Our top selling piece
17:09Is our double sided happy heart
17:11Makes sense
17:12That one cost for goods landed on it
17:14Is $23
17:15And we retail it for $138
17:17Oh wow
17:18Oh wow
17:19Okay
17:20So what an 83% margin
17:21What material is it made out of?
17:22We use 14 karat gold
17:2314 karat gold?
17:24Plated over brass
17:25Yeah
17:26Oh, plated over brass
17:27But it's plated, right?
17:28Okay
17:29Does this typically wear off in like
17:30Six months, a year, three years?
17:32I would say three to five years
17:34If you're wearing it like I do
17:35In the shower, in the hot tub, in the lake
17:37Like I wear mine extremely hard
17:38Really?
17:39Because I'm a farm girl
17:40Love it
17:41That's a pretty high price point at $138
17:43To be honest
17:44I don't know if I'd spend that on my 12 year old daughter
17:47Right
17:48So like who is your target market here?
17:49From 25 to about 55 is our target like audience
17:53Of who we're selling to
17:54There's a lot of jewellery brands out there
17:56There's a lot of jewellery brands
17:57Tell me, other than you
17:59Cause you are definitely unique
18:01Thank you
18:02In the greatest way possible
18:03Yeah
18:04What stands out in this brand?
18:06I, for what I'm trying to create
18:08I honestly don't even feel like I'm selling jewellery
18:10I'm trying to create a community and a movement
18:13Krista, tell me how you've created a community
18:15I think just the infectiousness
18:17People crave positivity
18:18Yeah
18:19They crave connection
18:20And I love sending a video to my customers
18:22Like people said
18:23Oh, you only have 15,000 followers
18:25I'm like, if there was 15,000 people in this crowd right now
18:28That's incredible
18:29If there's 100 people, who cares, right?
18:30Yeah
18:31Like cherish those people
18:32And that's like amazing
18:33It's huge
18:34At the grassroots part of a business
18:35But how do you get that to scale?
18:37Exactly
18:38The marketing strategy
18:39Yes
18:40That you're going to use
18:41So everyone finds out about this
18:42That's why I'm here
18:43That's why I'm here
18:44Okay
18:45My whole brand has been growing organically
18:46But I just need your expertise
18:48In really just getting in front of more people
18:50I want to help as many women as I can
18:53I get the impression that this is fun for you
18:56It is very fun
18:57But for me, it's the business part of it
18:59Yeah
19:00Right?
19:01What did you do last year?
19:02So 2024 was $330,000 gross
19:09And my net was $72,000
19:12What did you do the year before that?
19:14So 2023 was $311,000 and I paid myself $68,000
19:20And what do you think you're going to do this year?
19:22Um, $1.2 million
19:24Why has it gone up so much?
19:26What happened?
19:27I would say $500,000
19:28But I would like
19:29I honestly
19:30I believe in myself so deeply
19:32That our return customer base right now is 80%
19:35Let's talk about the business model for a second
19:37Yeah
19:38Um, my strategy lately has been a weekly drop that we do
19:41Which I think keeps them excited about what's coming
19:44And also like helps my ADHD brain wanting to create all the time
19:49Like from the click to the website to the click of the product
19:53I want it to be an experience
19:55Everything is just this dopamine hit to just uplift
19:58Right to the follow through of your confirmation
20:00How do we bottle you up in this?
20:01Like your energy
20:02It's in there!
20:03You're a dopamine
20:04Everybody always tells me that
20:05They're like when I put it on I feel like I can feel your energy
20:07Like oh it's electric love
20:08I put it in there
20:09I put it in there
20:10So Krista, you're a ball of energy, right?
20:12Oh thank you
20:13You're a ball of energy
20:14You're a ball of positivity
20:15But yet you're emotional
20:17Why are you emotional?
20:18Um, I auditioned or put in an application eight times this season
20:22So every Monday I got up and ran to my computer
20:24That's amazing
20:25And every Monday I would put in an application
20:27Persistence
20:28Love it
20:29So yeah, I think I'm just excited to be here
20:32It does take strong women like you to say
20:35You know what? I lacked confidence
20:37But here I am, I'm putting myself out there
20:39And I'm doing something that any young woman can do
20:42If they want to put their mind to it
20:44I love that you're trying to empower women
20:46We need to believe in ourselves
20:48Yeah
20:49Cause at the end of it
20:50It's your belief
20:51It's your belief in your own self
20:52And it's also the beauty of e-commerce today
20:53Yes
20:54That you can scale and grow something
20:55Yes
20:56And still feed your horse in the morning
20:57And you just need your phone to connect to the internet
20:59Yes, exactly
21:00Like that's so cool
21:01Is that how you sell all of your products?
21:02It's online?
21:03Yes, cause it's way easier for us to tell our brand story
21:05Our own way on our website, our social media and our own platform
21:09Krista, so the first thing I wrote down when you came in
21:13Storytelling
21:14Yeah
21:15And a storyteller
21:16That's what sells a brand
21:17That's what sells anything
21:18That's exactly right
21:19But when I, in terms of an investment, you know
21:20How can that $50,000 turn into $500,000?
21:23Right
21:24And I just don't see how I'm going to be able to get that return
21:27That I'm looking for
21:28So I'm going to be out for that reason
21:29That's okay
21:30Totally
21:31Krista, I like your confidence, your optimism, and your outlook on life
21:34For sure
21:35The good news is, you're on Dragon's Den
21:38The bad news is, I'm out
21:42Krista, you embody one of my favourite quotes, Dr. Seuss
21:45Why fit in when you were born to stand out?
21:47Yes
21:48And on the back, you've got your shirt that says make your mark
21:50I got a handbag
21:51You're making your mark
21:52Yes
21:53I think you're doing all the right things
21:54I'm going to be out, but I wish you all the best
21:58I love that there are women like you
22:00You're making money, you're doing it from Craven
22:03You have such a great attitude
22:04And I wish you nothing but success
22:06But I'm going to be out as an investment
22:11I shall
22:15You're pulling at my heart
22:16Oh no
22:17From another Saskatchewan girl
22:19But you have energy that's much larger than that province
22:22I mean, sometimes there's just special people
22:24And those special people build special companies
22:27Absolutely
22:28Because it just oozes out of them
22:31That's kind of the first ingredient you need
22:33I think the second ingredient you need before an investor
22:36Is figuring out that scalable strategy
22:38Right
22:39There's just a couple more things
22:42You've got to get on a scalable strategy
22:44Until you get to the next stage
22:47I love your energy, but you're just not ready for an investor
22:50And you know what?
22:51I respect all of that 100%
22:53And I feel like I am just on the brink as well
22:57So yeah
22:58You can message me on social media
22:59And if I can help you, I will
23:00Totally
23:03I'm so excited to still keep shining my light
23:06For those young girls
23:08To never stop chasing your dreams
23:10I do truly believe that we're at that cusp
23:20Where if we do push into all season 12 months
23:24It will break even
23:25And it will start generating income
23:26If every entrepreneur who's ever said that to me
23:28Actually did that
23:29I'd be rich
23:30Err
23:31Richer?
23:32Being a part of season 20 Dragon's Den means the world to me
23:48Dragon's Den not only inspires other entrepreneurs and Canadians across Canada
23:53But it also gives the dragons the ability to look at small businesses
23:58And say, hey, entrepreneurship is alive
24:01Next up, a mom and her daughters aim to turn their seasonal home decor side hustle into a year round success
24:10Hello dragons
24:11My name is Sofia Syed and I'm from Mississauga, Ontario
24:14I'm here with my daughters Zahra and Lina
24:17Hi
24:18And we are here looking for investment of $200,000 for 8% of our company, also Sofia
24:25Dragons, when I was growing up, I celebrated Eid and Ramadan
24:29And my family and friends celebrated Diwali
24:32And unfortunately growing up there was love and laughter in the home
24:36But we lacked that seasonal home decor
24:38Which many other holidays have
24:40So fast forward two decades later
24:42I have my girls
24:43And of course there was little to zero product on the shelf
24:46That was at a good value and represented our communities
24:49So like many families, we started to DIY our way into our celebrations
24:54And somehow, by accident, we ended up creating a thriving business
24:59Offering our collection for Eid and Ramadan
25:02Fast forward two more years
25:04We created a Diwali line and we have some Diwali decor here to show you
25:08Well you sure picked two of the biggest events in the world to go after
25:13Sofia's brand offers a wide range of celebratory products
25:17Like reusable garlands, banners, lanterns and decorative tea lights
25:22Oh beautiful
25:23So Manjie, we are selecting you to come down and try our newest product
25:28The Seasonal Science Swap
25:29In an attempt to increase their sales year round
25:32The latest design features a magnetic base with interchangeable holiday greetings
25:37Oh, and everything will stick
25:39Yeah
25:40Oh, this is easy
25:41If I can do it, definitely anyone can do it
25:43Yeah, and so we have explored new minority festivals
25:46Let's see
25:47Happy Panditur Dharvas
25:48So it is the Sikhs that celebrate Panditur Dharvas
25:51When Hindus celebrate Diwali
25:53Oh, cool
25:54I love it, it's beautiful
25:56It could go from Happy Easter to Merry Christmas to Diwali
25:59Yes, and we have it all
26:00Currently we only run for 12 weeks of the year
26:03So we would like to expand to a full season, 12 months calendar
26:06What allows me to feel confident about our business
26:09Is that we have a large retailer, Walmart
26:12Who continues to come back year over year
26:14And our sell through is quite good
26:16Thank you Zora
26:17Thank you
26:18Thank you
26:19Great helpers
26:21Sofia, on your business here
26:23I really love the fact that
26:25You're not just focusing on your community
26:27You're focusing on all diverse communities
26:29Yeah
26:30And the issue that we're having is a lack of tolerance
26:33Yes
26:34People don't tolerate other communities and their culture and customs and so on
26:37And this is one of the ways to really try to solve that
26:40Sofia, you're really only in business 12 weeks of the year, correct?
26:44So what do you do the rest of the year?
26:46Until the fall, I was working full time
26:49I'm trained as a physiotherapist
26:51And this was my evening project
26:53Because when you work with suppliers in India and China
26:55I can't talk to them until 9pm anyways
26:57Of course
26:58And so you started sourcing them yourself from China
27:00And then how do you land yourself in Walmart?
27:02Tell me that journey
27:03Okay, so I was very frustrated in 2017, 2018
27:07They have cards for all the seasons, including Halloween
27:09And they had nothing for us
27:10And it dawned on me at that point that it's not that they're not aware
27:13Yeah
27:14It's that they probably can't find something
27:16So subconsciously when I started to make products
27:19I put them in retail ready packaging
27:21Smart
27:22I think we were at a conference
27:23And a Walmart corporate member walked by
27:26And they were like, we need this on the shelf
27:29So then in 2020 we landed
27:32And let's just say our community was lining up outside
27:36And then searching for the product
27:38Because they were just so excited
27:39That must have been an amazing moment
27:41Yes
27:42Yes
27:43So how many stores are you in in Canada then?
27:45For Diwali coming up, we're going to be in 190 stores
27:48So where do you get the money to fulfill that type of order?
27:51Yeah
27:52The full-time job has been floating me
27:53But now you don't have a day job
27:55Yeah, so now this company has to pick up
27:57It's no longer a side hustle
27:58No
27:59It's going to go to 12 months
28:00Sophia, I'm just the money
28:03Like there's a lot of money that you must have put out
28:05How much have you put out?
28:07293,000
28:09So
28:10So
28:11Where'd you get that much money from?
28:12Yeah
28:13I've been working, we have property
28:15You're all into this
28:16Wes, I think it selected me
28:18Serendipity
28:19Please tell me you're making money then
28:21We are reinvesting every dollar back into the POs
28:25Because they keep growing
28:27We will be break-even by our calculations
28:29If we push to a 12-month cycle
28:31So what were your revenues last year?
28:34Yeah
28:35We ended 2024 with $405,000
28:39And that was all in 12 weeks?
28:40Yeah
28:41And what are your margins?
28:43So with big retail, our gross is at 10%
28:46Because Walmart unfortunately is such a big amount
28:49Yeah
28:50But that's small
28:51Yeah, we need to shift e-commerce
28:53And that's where we're going to be
28:55So on $400,000 a product
28:57You only have $40,000 left
29:00$40,000 left
29:01And that has to cover all of your overhead
29:03That's really tight
29:04So we're tight
29:05And I would admit that
29:06But it's because
29:07If you picture a brick and mortar
29:09We've literally locked the doors for the rest of the year
29:12No, but okay
29:13You've been doing this for five cycles
29:14Why haven't you increased that margin
29:16Or got your cost down?
29:17Technically, when I do look at margins
29:20We're at about 20%
29:21But obviously
29:22Yes, but by the time you take out listing fees
29:25You've returns
29:26Like all of the things
29:27You've got new tariffs right now
29:28You've got to be out of 50%
29:29It's way too low
29:31You need margins three times that
29:33You really haven't proven like
29:35Huge volume yet
29:37And you certainly haven't proven
29:39$2.4 million worth of value
29:44I honestly think you had something great to begin with
29:47But I think you've missed the moment
29:49I think now you can go online
29:51And there are thousands of products
29:54That you can buy
29:55Not just hundreds
29:56So I agree with you five, six years ago
29:58But I don't think you've doubled down
30:01And made yourself the name brand
30:03That has taken all of the space
30:05I humbly disagree
30:06We have a return rate on our website
30:09Of 28%
30:10We do have a very supportive community
30:13That does come back
30:14I love that every diverse community
30:18Should have exactly what they're looking for
30:20But I think there's still got to be an edge
30:22I like the business
30:24I just don't like it at this valuation
30:26So I'm going to be out
30:27I really applaud that you've come up with really beautiful ideas
30:31And I think your sign is really interesting
30:34Looked like Manjit did it really easily
30:36Which she is not a handy person
30:38So I mean honestly I think it's impressive
30:40I'm a crafter
30:41But I
30:43But I
30:44But I
30:45But I
30:46And there might be something there
30:47The fact that
30:48Come on
30:49All that to say
30:50I admire you
30:51I love that you've done this for your community
30:53I do not love $2.4 million in valuation
30:56I don't even think your business is worth $200,000 today
31:00So I'm going to be out
31:02I do truly believe that we're at that cusp
31:08Where if we do push into all season
31:1112 months
31:12It will break even
31:13And it will start generating income
31:14If every entrepreneur who's ever said that to me
31:16Actually did that
31:17I'd be rich
31:18Err
31:19Richer
31:21I think seasonal is a great space
31:23I'm in it myself with Shack Shine
31:25But I think if you've got your signs
31:27And they're up in neighbourhoods
31:28And neighbours are telling neighbours
31:30That's how it goes viral
31:32Versus trying to be all things to all people
31:35For that reason I'm out
31:39Sofia you didn't find what you wanted
31:41And you went and created it
31:42And that is the definition of an entrepreneur
31:45But as an investor
31:47I see the numbers
31:48And I see the future
31:49As a hobby business for you
31:51And a personal business maybe for you and your daughters
31:53Not as a scalable investable business for me
31:56I'm out but I wish you the best of luck
31:58May I ask
31:59Because I think the valuation is what is throwing everyone off here
32:03Realistically we have brand equity
32:05We do have a big retail partner that has continued to come back
32:09And we have that ability to scale to 12 months
32:12The reason I said it was worth what I said
32:14Is because your margins do not exist
32:16They absolutely have to
32:18Sofia, the problem with the business is that it can be easily commoditized
32:26And because the valuation is a little bit higher than I think it should be coming in
32:30I'm going to be out
32:32Good luck
32:33Thank you guys
32:34Take care
32:35Thank you
32:36You literally search 80's party on Amazon and there's like 70,000 vendors
32:42But I don't think
32:43I agree when she started in 2017 there probably was nothing
32:45Yeah there wasn't
32:46So Manjie do you really believe she missed her timing?
32:48I absolutely do
32:49Every parent knows the 2 a.m. nightmare
33:02Oh
33:08Recent lived experience
33:10Meet Yumi Solis
33:12First ever self-warming baby bottle at a push of a button
33:15I'm really banking on the innovation and we're really bringing something revolutionary
33:34Last business partners hoping the dragons will warm to their secret formula for success
33:42Hi dragons
33:46My name is Scott Bradley
33:48I'm from Curtis, Ontario
33:49And I'm Bailey Gaddis
33:51And we are the owners of Yumi Baby Tech
33:55Today we are asking for $450,000 for 5% of the company
34:03Wow
34:04Wow
34:05Okay
34:06Nine million dollars
34:07So
34:08I have a baby
34:09Dragons
34:10I have not heard of Baby Tech but okay
34:13So
34:14Every parent knows the 2 a.m. nightmare
34:22Recent lived experience
34:24You're exhausted
34:26The baby is screaming
34:28And you're trying to heat up a bottle that is taking way too long
34:32Forever
34:33So I've lived this both personally and professionally and I knew that there had to be a better way
34:42Meet Yumi Solis
34:44It's the first ever self-warming baby bottle that warms breast milk or formula in one minute at a push of a button
34:52Would you believe me if I told you we actually use ice to warm the milk?
34:57What?
34:58How?
34:59Michelle
35:00Would you join us?
35:01Maybe you don't know ice is cold
35:03See that right
35:05That's the science behind it
35:06You'll see
35:07You'll see
35:08Okay
35:09Hey come down here
35:10I have science and I've been recently warming baby bottles every five minutes
35:14They have
35:15Dr. Romano
35:16Yeah exactly
35:17Thank you doctor for joining us
35:19Okay
35:20Hold this
35:21Okay
35:22Go ahead and shake it
35:23It's our patent reusable warming cone
35:25Okay press the button
35:26Keep rattling
35:27Keep shaking
35:28So the rattle's gone
35:29Yeah
35:30Oh it got
35:31It's getting really hot
35:32Okay
35:33So it's called exothermic heating or as we like to call it hot ice
35:38So this heating unit is actually in the bottle
35:41It's in the bottle
35:42So when the milk travels underneath the nipple around the warming cone
35:47Every sip of milk comes out the same temperature as breast milk
35:50Hmm
35:51What?
35:52Okay
35:53Because this is the big problem on why you can't microwave formula or breast milk
35:57Is because you get these patches
35:59This is
36:00When you do that you also destroy all the milk nutrients
36:02So what happened in here?
36:03Let's have a closer look at it
36:04Okay let's have a closer look
36:05So this is our sodium acetate
36:07To activate it you have to take some salt and put it in here
36:11And this will instantly turn to ice
36:13Stand back
36:14Oh it's gonna blow
36:15There you go
36:16So now it's activating it
36:17It's starting to freeze
36:18Oh yeah
36:19Wow
36:20And as it freezes
36:21Oh my goodness
36:22It creates the heat and warmth
36:23Isn't that cool?
36:24Super cool
36:25Of 50 degrees Celsius for one hour
36:26Really?
36:27Wow
36:28This is getting really warm
36:29But could it not go to 50 degrees and burn the baby then?
36:32It's 50 degrees inside the warming cone
36:34As the milk passes over top of the nipple and around the warming cone
36:38It comes out at 36 degrees
36:39Please see
36:40Maybe it'll help
36:41Can we look at it?
36:42Sure
36:43Yeah
36:44Thank you
36:45Oh
36:46And this is reusable
36:47It's reusable
36:48Infinitely
36:49Infinite number of times
36:50So take it and put it in our mini steam sterilizer
36:52Our recharging station
36:53And it basically resets it back into liquid state to use it again
36:56I don't know how babies in the old days survived
37:00I really don't without all of this technology
37:02And all of these things
37:03So what is the cost of the Yumi?
37:05So the full set is about $65 and it retails for $550
37:11$550?
37:12Oh those are big margins
37:13Whoa
37:14Some rich mamas only buying this
37:17It's like up there
37:19This is five times more than a conventional bottle warmer
37:21It's a complete feeding system
37:23So you get everything
37:24You get six bottles
37:25Six reusable warming cones
37:26And you get the recharging station
37:28Recharging station doesn't just do recharging of it
37:31It defrosts breast milk
37:33Cooks baby food
37:34And sterilizes toys and bottles
37:36Can I just take a jar of baby food and stick it in there?
37:39Yes
37:40Guys, what got you in this business?
37:42So my background is sales and marketing
37:44I've been a director of sales and marketing for Fortune 500 companies
37:48Probably 15 years
37:49Okay
37:50I'm a mom
37:51Number one of two kids
37:53And for over a decade I've been a postpartum doula
37:57And so I really connected to this vision and became a shareholder
38:01How much do you own?
38:02I'm a 3% shareholder
38:04So do you own the other 97%?
38:06No, I own about 67%
38:08And you invented this?
38:09I did not invent this
38:10So the original inventor was the head engineer from BMW
38:14So Scott, did you buy the technology then?
38:16I bought the, yes I did
38:17For how much?
38:18I can't say
38:19I can't say
38:20Well
38:21We do need
38:22Well
38:23To make an investment
38:24Okay, so how much have you invested then to this point?
38:26I have about $2 million in
38:28$2 million?
38:29$2 million of your own money
38:30And did you go to the bank to get that $2 million?
38:32Where did you get $2 million from?
38:34So I've refinanced my house to the max
38:37I've cashed in all my investments and I've put in all my inheritance
38:41You're in deep
38:42I mean, I'm fully
38:43And I 100% believe in it
38:44Wow
38:45And Scott, how long has this product been on the market for?
38:48So it's been on the market since 2012
38:50So he ran it for the first eight years to about 2020
38:53So is it in the market now?
38:55We're launching in two weeks
38:58Relaunching in two weeks
38:59So you've done $7 million in lifetime sales before this
39:02But not under your ownership?
39:04No
39:05So that doesn't really count?
39:07What we're going to have
39:08So our innovation pipeline
39:10It's got products in here that are almost bigger than this
39:13Lots of innovation
39:14How many products do you have in the pipeline?
39:16Our innovation pipeline over the next three years
39:20We're looking to launch products every nine months
39:22Every nine months?
39:24Yes
39:25But you're not really pitching this product
39:26You're pitching your whole company
39:28Yes
39:29And so what are some of those innovations that you're going to bring to the market
39:32That we're actually investing in?
39:33Can I show you?
39:34Sure
39:35You've been dying to take your hand out of that pocket
39:37Show us
39:38Yeah, let's see
39:39Show it to us
39:40Hey, put your hand out
39:41Okay, like this or this?
39:42No, like this
39:43Okay
39:44It's a hydrogel nipple patch
39:45It's not though
39:46It's not though
39:47Okay
39:48What is this doing?
39:49It is the only water stable gel in the world
39:51What is it?
39:52What you have on is just water
39:54For what though?
39:56I'm telling you
39:57It's innovation
39:58What is it for, Scott?
39:59What is it for?
40:00For nipples that are cracked
40:01So it's called breast aid
40:02And dry, so it's for breastfeeding
40:04So 80% of women say, I'm going to breastfeed
40:06And after two weeks, it's less than 35 that they're doing it
40:09It's the pain
40:10It's tough
40:11It is so painful
40:12God bless you, it's hard
40:13Our gels, because they're water stable
40:15We can put any active ingredients in our gels
40:18That actually heal you
40:19So you'll notice when you put them on
40:20Yes, it's almost like a shield
40:22It soothes you instantly
40:23Yeah, yeah
40:24We actually thaw it and freeze it
40:25So it locks an ice molecules in it
40:26So when you put it on your skin
40:28You're getting that
40:29It stayed cold the whole time
40:30It's actually gotten a little bit colder
40:31It won't change
40:32It won't change
40:33Can you put anything medicinal in here?
40:34Yes, we can put anything in it
40:35So it can be a carrier for other
40:37It absolutely can be, yes
40:38For like the antiseptics or anything like that
40:40We've already done that
40:41Okay, well that interests me
40:45Given that I've tried every product in this space
40:47Like this is better than any nipple patch I have felt
40:51Yeah, it's crazy
40:52This is crazy
40:53I know, from the wound care space
40:55This has applications for a lot of different things
40:57Yeah, you're right
40:58This interests me more than the bottles do by far
41:01This is cool
41:02It seems that Arlene and Michelle are more excited about the nipple patch than the bottles
41:06You've got products that are going to come out every nine months
41:10That's a lot
41:11I worry about your focus
41:13I think it's going to be a tough go
41:15I'm going to be out, but wish you all the best
41:19Scott, I love the innovation
41:21When you said $2 million, I'm like, man, you must really believe in the future of baby tech
41:26I do
41:27And I'm already in the space, so for that reason I'm going to be out
41:33It will feel like it's getting colder
41:35This is very interesting
41:36Oh, wow
41:37I think you're focusing on the wrong product, Scott
41:39I don't think this is the one that's going to make you into a huge company
41:44I think that invention is for wound care
41:47But you're going to need a lot of money to find out if the market is even interested in this
41:54And I'm not willing to risk my money to find out
41:56Tara
41:58Yeah
41:59You're going to need a lot of cash, I think
42:05Well, if Michelle would come in with me, because I wouldn't want to do this on my own
42:10I'd do $4.50 for 10%
42:16Yeah, I would do a deal with Arlene on this
42:18Okay, we have a deal
42:23Alright, we have a deal
42:24Yay, there we go
42:26Congrats
42:27Congratulations
42:28Thank you, thank you
42:29Thank you
42:30Thank you
42:31Thank you
42:33Thank you, thank you
42:35Thank you, thank you
42:36We'll talk again
42:37Thank you
42:38Thank you
42:39I don't actually totally want to poo-poo on that plate either
42:43That's not great either
42:44That's a $550 product that costs them $65 to make
42:49Yeah, but they haven't sold any and the first time it came out
42:52It's either a hit or a miss
42:53It's either a hit or a miss or we're going to find out
42:55We will find out
42:56We will find out
42:57Like I said, you're going to burn through a lot of money to find out
43:00Tune in next week
43:02This property brother makes himself at home
43:05This is smart
43:06Have us have a little drink before we really talk numbers
43:08That's right
43:09Cheers
43:10Cheers
43:11Welcome, welcome, Drew
43:12Yes, thank you
43:13Drew Scott takes his seat in the den
43:16This deal is going down the toilet
43:18Oh
43:20Something just happened
43:21Something for the leak detector
43:25Have you ever heard of tiny living?
43:27This is tiny living
43:29Guess what?
43:30I've got my first deal
43:31You got your first deal
43:33You got your first deal
43:35Come on, Drew
43:38Oh
43:39No
43:40Geg
44:08You
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