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Dragons Den UK S23E01

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00:00The doors to the den are open once more and the
00:05battleground for business is set.
00:07This is where fortunes are made.
00:10And futures are forged.
00:12But in this brand new series...
00:15The game has changed.
00:18Alongside four seasons...
00:20...and dragons stands a revolving door of fierce investors.
00:24Ambitious...
00:25...competitive...
00:26...and ready to take on...
00:28...the old guard.
00:31Joining them tonight...
00:33I'm Jenna Meek.
00:34I'm a serial entrepreneur.
00:35I'm currently the co-founder and CEO of Refy Beauty.
00:38She's shaken up the cosmetics...
00:40...world with one of the fastest growing UK brands.
00:43Welcome to the den.
00:44Yeah, it's gonna be good.
00:45We're the same age, aren't we?
00:46We are.
00:47Well, you look so much younger than me.
00:48LAUGHTER
00:50Now, this next generation powerhouse is hungry for more.
00:54I quit...
00:55I started my job in fashion...
00:56...and started my first business with £3,000 of my own savings.
00:59I scaled...
01:00...to a multi-million pound business.
01:02My vision is to...
01:03...own this...
01:05...this world.
01:06I started my second business with a mission to simplify beauty.
01:10And we are on track to build a billion pound beauty empire.
01:14I'm a vision person.
01:15I'm a mission person.
01:16That's all I care about.
01:18I know exactly what I can bring to a business.
01:20So if there's a fight for an investment, I will be absolutely fighting for it.
01:24That's why I get...
01:25...so annoyed when someone says,
01:26Oh, you can source it from China.
01:27You can source anything from China.
01:29I am not...
01:30...you can't be scared of any of the dragons.
01:31If anything, they should be scared of me.
01:33LAUGHTER
01:35It's a battle for the next breakthrough.
01:38And the dragons are ready to...
01:40...to strike.
01:45...to strike.
01:46Hi, I'm...
01:50Chloe.
01:51I'm founder of Hat and Spicy.
01:52Hat and Spicy.
01:53Hat and Spicy.
01:54Hat and Spicy.
01:55The hat I'm wearing is upcycled from a sun hat.
02:00And that I've thrifted online.
02:02And we've turned it into this fabulous piece of Path Everywhere.
02:05And that's what we did.
02:06Oh, this is right up your street, Stephen.
02:08I...
02:09I can see...
02:10...maybe Stephen in one of those.
02:11The pink one, Stephen.
02:12The bunny one.
02:13Could probably make you a pair of trousers to match.
02:15I've got to be honest, I was drawn to the bunny ears.
02:20It's green.
02:21Oh, wow.
02:22Oh, my goodness.
02:23Right now, I'm feeling very nervous.
02:25I've got all my dancers with me, who are giving me that kind of...
02:30comfort blanket.
02:31I've got it.
02:32I've got it.
02:33I've got it.
02:34It's going to be amazing.
02:35It's all right.
02:36I'm a freak.
02:38Move or reach me, shoot me, shoot me.
02:40Oh, my wish.
02:41I'm the hardest on the scream.
02:43Marty, do me sounds so lean.
02:45I'm a freak, move or shit
02:46You should keep me on a leash
02:48I'm the hottest on the
02:50See you, honey
02:50Told me it's gonna be in my life
02:55I'm the hottest on the
03:00See you, honey
03:05I'm the hottest on the
03:34See you, honey
03:35I'm the hottest on the
04:04See you, honey
04:05I'm the hottest on the
04:10See you, honey
04:11I'm the hottest on the
04:12See you, honey
04:13Thank you so much to my models
04:15And I've actually made you eat your own custom hat
04:17Tailored to how I feel like maybe your personality would shine through a hat
04:21I love that
04:22Risky
04:23Very risky
04:24Hats
04:29And the bespoke designer headgear are the offering from Chloe Messer
04:33So, Peter, you have got a big patriotic number
04:38For the king of the king of the UK retail suits
04:39I love it already
04:40Matches your suit, actually
04:41It's amazing
04:42Chloe is seeking 50,000 pounds
04:46Debra, you have got this big bold colorful number
04:50Just
04:51I love that
04:52I love that
04:53In return for 15% of her business
04:55And Tuka, for you
04:57We've got you some bouncing bunnies
05:00I love that
05:01I love that
05:02I love that
05:03So, if you put them on
05:04And then
05:05If you pump these
05:06There you go
05:07There you go
05:08There you go
05:10Tuka Suleiman might be all ears
05:12But will any of the dragons be either
05:15Paying up a deal
05:16It's an even taller than usual
05:18Peter Jones
05:19To
05:20To
05:21To
05:22To
05:23To
05:24To
05:25To
05:26To
05:27To
05:28To
05:29To
05:30To
05:31To
05:32To
05:33To
05:34To
05:35To
05:36To
05:37To
05:38To
05:39To
05:40To
05:41To
05:42To
05:43To
05:44To
05:45To
05:46To
05:47To
05:48To
05:49To
05:25Chloe hi hello. Sorry. Can we be a bit more serious for a moment, please?
05:30So, when did you start this business?
05:34So, it started...
05:35It started in 2022.
05:37Yeah. What was your turnover in the first year?
05:40The turnover for that half year, it was 7,122.
05:44Okay, so...
05:457K.
05:46Yeah, 7K.
05:472023?
05:4823, 25K.
05:4925K.
05:5024K.
05:5130,626.
05:55Are you making a profit?
05:56I have been. They've just, for this year...
06:00I'm actually running at a loss of £500.
06:02So, when you made that 30K last year, did you make a profit on it?
06:05I did make a profit and it was £3,780.
06:10Did you pay yourself?
06:11Yeah, so I pay myself a monthly salary of just around...
06:15£800 just under, and I've taken dividends of £16,000 from the company.
06:20And you can...
06:20You can live on that?
06:21I can.
06:22I live quite frugal, and I like...
06:25thrift and upcycle, and at the moment I'm not really going out that much.
06:30How old are you?
06:3132.
06:32Okay, same age.
06:33Same age as 10 or so.
06:35Yeah, yeah.
06:38Hi, Chloe.
06:39Hi.
06:40So...
06:40My background was in festivals.
06:41I actually started quite an unsustainable festival brand, Glitter.
06:45First Jules, and decided to kind of stop it all because it wasn't...
06:50sustainable.
06:51And I felt at the time, in the festival industry, there was a lot of fashion brands doing it.
06:55But not sustainably.
06:56So actually, this is a really clever route to...
07:00create pieces like this that you're not wearing every day, but they create really special memories with.
07:05Have you been to any festivals?
07:07Have you had stalls at festivals?
07:08Have you explored that yet?
07:10So, I haven't been to festival selling, but this summer I've got a...
07:15commission for a festival in Albania called UNUM, which is an electronic dance technique.
07:20And then at Glastonbury, I have not got a pitch in the site.
07:25But it's a boutique campsite that's off site, and it's a...
07:30space where people are paying a lot of money to go bougie, and the price point of my...
07:35hats is not...
07:36it is a bit higher.
07:38So, on average, my hats sell for $200.
07:40And hopefully, that's the market that I want to be getting into.
07:45But, yeah, I'm at kind of the ceiling of what I can do on my own.
07:51Chloe, erm...
07:52Tuka, hello.
07:53I think you are...
07:55very talented.
07:56And, in a way, I've looked at this and say...
08:00you can carry on the way you are.
08:03Do one of pieces.
08:05and have fun and make a bit of money.
08:08Yeah.
08:09Or...
08:10you could say...
08:11I could design product.
08:13And, somehow...
08:15create areas where...
08:17I could create a business.
08:19But, what worries...
08:20me, more than anything, is...
08:22how big can this get?
08:24So, it...
08:25so...
08:25you...
08:26you...
08:27you...
08:28you're a one woman band.
08:29Yeah.
08:30And...
08:30you know...
08:31in order...
08:32to create...
08:33this vision...
08:34you need more people.
08:35you need a lot more than 50,000.
08:37Yeah.
08:38Right?
08:39You need premises.
08:40Ideally...
08:41a little...
08:42shop...
08:43with a workshop in the back.
08:44Yeah.
08:45Yeah.
08:46Gonna...
08:47gonna be a tough one.
08:50Chloe...
08:51I...
08:52I...
08:53so...
08:54you're...
08:55you know...
08:55you're...
08:56talented.
08:57And, I think these are...
08:58when I first saw them,
08:59I thought,
09:00what?
09:00but, actually, they're really cool.
09:02You know, they are really cool.
09:03I love that they exaggerate.
09:05every nod.
09:06And, every shake as well.
09:08Um...
09:09but, I don't...
09:10I don't see...
09:11that it's an investment.
09:13No.
09:14Okay.
09:15Because I...
09:15I can't see the mechanics that turn it into a sort of...
09:18a...
09:19a day-to-day business.
09:20that can just keep...
09:21throwing off...
09:22Yeah.
09:23Profit, which you need.
09:24Yeah.
09:25Yeah.
09:25You know, they're...
09:26and that's the bit that I can't find.
09:28And, for that reason,
09:29I'm out.
09:30I'm out.
09:35Chloe.
09:36Yes.
09:37When I look at this business,
09:38I do think that...
09:39you probably don't...
09:40want an investor.
09:41I do.
09:42I'm not sure you do.
09:45I think you might need a partner in the business.
09:47Someone to bounce things off.
09:48Yeah.
09:49But investors are slightly...
09:50a very different animal.
09:51Especially a dragon.
09:52Because we put our money in...
09:54with the prospect...
09:55of getting a return on that money.
09:57Wow.
09:58And the struggle that I have is...
09:59I don't...
10:00I can't see that here.
10:03So, I'm gonna say that I'm out.
10:04No.
10:05My voice.
10:09Um, yeah.
10:10So...
10:10really resonate with what everyone's saying.
10:12And I've been exactly where you've been...
10:14in a very...
10:15very similar route into this festival world.
10:18And...
10:19I really resonate because...
10:20I also thought...
10:2110 years ago...
10:22I want an investor.
10:23Because that will solve all my problems.
10:25And...
10:26it actually would create problems.
10:27Because...
10:28what you're doing...
10:29this sustainable route...
10:30like...
10:31your personality.
10:32There's something really special here.
10:34And...
10:35someone else will...
10:35just pull you in the wrong directions.
10:36That you need to lead the vision...
10:37and...
10:38be focused on it.
10:39And you will...
10:40you will...
10:40blow up.
10:41Because you already are blowing up.
10:42So, well done.
10:43But...
10:44this isn't an investment for me.
10:45So, I...
10:45I am out.
10:47Thank you so much.
10:51Oh, Chloe.
10:52Yeah?
10:53The really interesting thing...
10:54is...
10:55that...
10:55is...
10:56I really...
10:57I really...
10:58I really...
10:59I really...
11:00I really...
11:01I really...
11:02I really like it.
11:03And I genuinely...
11:04I really like it.
11:05And I genuinely...
11:05think you do need an investor. It's the very thing that you need. I read it.
11:10You really, really do because you don't have the experience of knowing how to build a business.
11:15But yet you've got the creative genius within you.
11:20And sometimes that's what makes creative geniuses get noticed.
11:25Is that they're backed and supported by people that know how to run businesses.
11:30But I think this is a very big.
11:35So I'd like to partner with Tucco Bunny.
11:40And the reason for that is that there is no better person.
11:45That understands the fashion world and the fashion market.
11:50So I would like to make you an offer.
11:55Okay, thank you.
11:58I'm going to cry.
12:00But my offer would be to.
12:05I'd like to share with Tucco if he would be willing.
12:08Oh, he's put me on the spot, hasn't he?
12:10Come on, Tucco.
12:10Tucco Bunny.
12:13So you've asked for £50,000.
12:15And I'd like to offer you £25,000.
12:20For £15,000.
12:25£50,000.
12:26£20,000.
12:27And I would like to share with you a better person.
12:28And out of the way I'm going to be the best person to buy.
12:30Much of a bigger business.
12:30You're currently in business by Tucco.
12:31The FWP.
12:32The FWP.
12:32The FWP.
12:33The FWP.
12:34The FWP.
12:35Bully.
12:35The FWP.
12:36The FWP.
12:36The FWP.
12:36The FWP.
12:37The FWP.
12:37The FWP.
12:38The FWP.
12:39The FWP.
12:39The FWP.
12:40The FWP.
12:42The FWP.
12:43The FWP.
12:44The FWP.
12:44The FWP.
12:45The FWP.
12:46The FWP.
12:46I'm going to give you...
12:51...half the money, that's 25,000, and I'll match Peter's offer at 15%.
12:56Yeah.
12:59Do you need to think about it?
13:00No.
13:01Okay.
13:04I really want to do it, yeah.
13:06I want it to be a big fan.
13:09Right, let's do it.
13:10Let's do it.
13:11Come in, bring it in, one of us.
13:15Come on, tucca bunny.
13:17It's a feather in Chloe's cat.
13:20Well done.
13:21She leaves the den with £50,000.
13:29Having given away double the £50,000...
13:31...15% equity originally on offer...
13:34...in exchange for double the dragon.
13:37Working with Peter and Tucca is going to be amazing.
13:40Oh my...
13:41Oh my God.
13:43I'm buzzing.
13:45I think you guys have...
13:46...gone absolutely mad.
13:47No, but she is special.
13:48Really special.
13:49Yeah, she is.
13:50If I can give this young lady...
13:51...an opportunity to improve her life...
13:54...that's what I'll do.
13:55That whole speech.
13:56Would have been great without the bunny ears on.
13:57It was...
13:58I can't take you seriously.
14:01Hello?
14:02Hello?
14:03Oh my God.
14:04We're so excited.
14:05We will see you on a Broadway club.
14:06No.
14:11Okay.
14:16My name is Miraj Husainov.
14:17I was born in Azerbaijan, but I've spent most of my life in London.
14:21Okay.
14:24Let's do this.
14:26My family have got amazing work ethic.
14:28It's been amazing watching them come into a country where they didn't even speak a language.
14:31Hello, Dracula.
14:32And worked really hard to raise me and my sister.
14:36And yeah, that's definitely been a big inspiration when I started the business.
14:41I didn't have any savings in the bank account.
14:43So it's been a real journey of pushing the boulder up.
14:46And now it really suddenly feels like we're chasing it.
14:56So I'm Miraj.
14:57Hello, Dragons.
14:58I'm Miraj.
15:01I'm Miraj.
15:01I'm seeking £70,000 in exchange for a 4% equity stake in my business.
15:06Mosaic Journal, a photo printing app with a little bit of a twist.
15:11Collectively, we take over 2 trillion photos a year.
15:15Now, the reason...
15:16The reason that we take those photos hasn't changed in decades.
15:19But the way that we store and share...
15:21The way we experience those photos, those memories, has changed dramatically.
15:25When I visit my parents...
15:26They get out these amazing photo albums...
15:28That show their life journey from Azerbaijan, where I was born.
15:31To here, England.
15:33What about my life journey?
15:35Mine felt trapped.
15:36Lost in my phone.
15:38So I created Mosaic Journal.
15:39When you sign up...
15:41We send you an empty Mosaic Journal.
15:44And then, using our app, you upload...
15:46One photo a day.
15:48Uploading is simple.
15:50Tap a date.
15:51Pick a photo.
15:52And that's it.
15:54Once a month, for less than a tenner...
15:56Those photos are printed and sent to your home for you to keep forever.
16:00You can even add the date.
16:01And the location.
16:02Directly onto the photographs.
16:04So you always remember where and when it was taken.
16:06Filling your Mosaic Journal is easy.
16:09The photos slot straight in.
16:10And in...
16:11Inside each one of these, there's 365 slots for a full year of your life.
16:16We've kept things lean.
16:18It's just me and my developer.
16:19Yet through posting consistently on TikTok...
16:21We've managed to grow to a thousand paid subscribers in the last few months.
16:26I brought...
16:26We've got a Mosaic Journal for each of you.
16:27With photos from my own journey in there.
16:29And as you look through them, I ask you...
16:31How would you feel if instead it was full of photos from your journey?
16:36That got you into those chairs that you're sitting in right now?
16:39I would have preferred it.
16:41A physical photo...
16:46Featuring daily snaps from a customer's smartphone picture library.
16:51Is the proposition from Murad Hussainov.
16:54Peter, if you could just take this one.
16:56Is it that one there?
16:57Yes.
16:59Cool.
16:59There you go.
16:59I mean, they're quite heavy.
17:01Murad...
17:01Murad is seeking £70,000 in return for 4% of his business.
17:06So this is one year?
17:08Yes, one-year photos.
17:10So Kevin...
17:11Can this entrepreneur make more memories to treasure in the den?
17:15Or will this...
17:16Particular outing turn into an occasion to forget?
17:21Hi.
17:24Great pitch.
17:26So tell me, what else is out there on the market like this at the moment?
17:31We see our competitors in three categories, essentially.
17:34We see photo...
17:36Printing, photo journaling, and social media as well.
17:41Because we're actually a social photo printing app.
17:43But in terms of this exact concept...
17:46Like a photo diary with a subscription photo service that sends you photographs automatically every month.
17:51There's nothing like that on the market right now.
17:53And just on that, so a social app...
17:56Can my friends see this?
17:58Yes.
17:58So part of how this started was...
18:01I was spending a lot of time on social media and I was thinking, this is not a real reflection of...
18:06I feel that social media is broken because they're incentivized to get us to spend as much of us...
18:11Particular time is possible on our phones.
18:12So what I wanted to do was create a solution where you could...
18:16still capture and document your life with your friends, but it felt a little bit more positive and uplifting.
18:21So in terms of the social features, you can add your friends...
18:26You can only see the photos they're tagged in.
18:27And we're also introducing something called Share in Real Life where...
18:31Let's just say, we were friends on the app.
18:34I could just with the click of one button...
18:36Complete friction sharing, send you like a framed photograph that we have together and because the app...
18:41stores the data for the address, I wouldn't even have to type it in or know it, I could just send you a gift.
18:47Amazing, thank you so much.
18:48Thank you for your questions.
18:49Thank you for your questions.
18:52Murad.
18:53Hey Peter.
18:54Really beautifully packaged by the way.
18:56Thanks.
18:57Really smart.
18:58I like it a lot.
18:59So what do you pay to be...
19:01How do you pay to be part of this?
19:02So the photo album is £29.99.
19:04Yeah.
19:05You can buy that one.
19:06And then the photographs are £9.99 a month including free shipping for about 31 photographs.
19:12OK.
19:13And then when did you start this?
19:15It was in...
19:16Incorporated in the end of 2021.
19:19I can take you through...
19:20Do you mind?
19:21Just to see the growth over 22 to now.
19:24In 2022 we did...
19:26A £400 turnover.
19:27And a net loss of £30,000.
19:30Is...
19:31In 2023 we did...
19:33A turnover of £11,000.
19:34And a net loss of £80...
19:36In 2024...
19:37In 2024...
19:38In 2024...
19:39In 2024...
19:40In 2024...
19:41We did a turnover of...
19:42£36,000.
19:43And a net loss of...
19:45£36,000.
19:46And a net loss of...
19:46£45,000.
19:47£45,000.
19:48£45,000.
19:49£45,000.
19:50£45,000.
19:51And what do you project the next?
19:5612 months.
19:57We project the time of around 270,000.
20:00Right.
20:01And you're valuing the company at two point, how much?
20:041.75.
20:05We're not using...
20:06We're using a revenue multiple to get the valuation.
20:08No, you use the crystal ball.
20:10Look, we raised six...
20:11Two months ago, a two and a half million valuation before we had 80,000 pounds of revenue.
20:16In the last four months.
20:18And you own...
20:19How much do you own of the business?
20:20Yeah, so I own...
20:2163.5% of the business.
20:24If I gave you a million pounds for this business...
20:26Would you sell it?
20:27What?
20:28Of course, of course.
20:29I'm just...
20:30I'm just...
20:31No, I wouldn't.
20:32You wouldn't sell it?
20:33No.
20:34Sure.
20:35No.
20:36I think this business...
20:36Can get really big.
20:37Photobox exited on estimates of half a billion dollars too.
20:41Let's get back to reality.
20:45Let's get back to reality.
20:46Okay.
20:47It's a photo album.
20:49Yes.
20:50And you know...
20:51It's a photo album, which will probably appeal to a certain...
20:56Percentage of the population.
20:58Yeah.
20:59To everybody.
21:00Because...
21:01It's not a photo album.
21:02Sorry?
21:03It's not a photo album.
21:04It's a photo diary.
21:05It's a photo journal.
21:06It's not a photo...
21:06It's a photo album.
21:07What is it?
21:08That's like saying Uber Eats or Deliveroo is food.
21:11They're not food are they?
21:12It's the user experience that we're delivering.
21:13They're saving you time and effort effectively.
21:16Achieving a goal.
21:17It's doing it for me.
21:18I could buy that photo album tomorrow.
21:20But Tuca...
21:21You then go and print out ten photos.
21:23Write on them.
21:24Put the date on them.
21:25Put the location on them.
21:26Or would you rather pay me ten quid and I'll do it for you?
21:29But I don't want it.
21:31So you're not the target customer?
21:32I'm just saying I'm not your target...
21:33That's what I'm...
21:34If you let me finish what I said...
21:36Is at the end of the day...
21:38You have got a limit...
21:41It's the amount of people that would want this.
21:43You've got the...
21:44Stephen's one of them.
21:46There's one gratitude journal which recently sold over 2 million copies.
21:49And they don't have a subscription business like...
21:51We do.
21:52Looking at this as a journal instead of album...
21:54Is how we're looking at it.
21:56But you've been going four years.
21:59And you've turned over...
22:0180 grand.
22:02My business...
22:03Some of them do that in one day.
22:05Mm-hmm.
22:06Not when you first started though.
22:07We'll get there.
22:08For sure we'll get there.
22:09No, no.
22:10But at what cost?
22:11So when I invest 70,000 pounds...
22:13Yes.
22:14When do you believe that I...
22:16I will have my money back.
22:17We're targeting an exit of three to five years.
22:19However, if you would want to sell...
22:21There will hopefully be liquidation events...
22:23On that journey...
22:24Where somebody might want to...
22:26You buy your shares.
22:27However, I would love for you to be part of the journey...
22:29And double down if the company's doing...
22:31Not your valuation.
22:32I could change the valuation.
22:33You want to put it up?
22:37No, I don't...
22:38I don't think I want to put it up.
22:39Ha, ha, ha, ha, ha, ha.
22:42So...
22:43You're very credible.
22:44But I think this is going to take long...
22:46Longer than you think.
22:49For that reason I'm out.
22:50Okay.
22:56It's interesting.
22:57Look, I...
22:58I own Jessops.
22:59Right?
23:00So...
23:01And I own Jessops photo as well.
23:03Mm-hmm.
23:04We've got hundreds of thousands of customers.
23:06Mm-hmm.
23:09So...
23:10So...
23:11That...
23:12This is not a challenge...
23:14For us to be able to do something.
23:16Like this.
23:17I think it's a really neat idea.
23:18Mm-hmm.
23:19Amazing.
23:20And...
23:21You know, I...
23:22I could really help you here.
23:26Similarly...
23:27I could also do it myself quite easily.
23:31And in a way I wish you didn't have your shareholders.
23:35Why?
23:36Because I would probably offer you an amount of money for the business.
23:40Mm-hmm.
23:41I mean...
23:41And bring it in-house.
23:42And offer you a job as managing director of...
23:46A whole photo group worldwide.
23:47Mm-hmm.
23:48Because I think you're exceptional as an individual.
23:51Thank you, Peter.
23:52I'm gonna say, though, sadly, that I'm out.
23:54Mm-hmm.
23:55But that's...
23:56Of no means a reflection of you.
23:58I think you've done...
23:59Done really well.
24:01Thank you very much.
24:02Thank you very much.
24:06All right.
24:07Hi.
24:08Um...
24:09I think this is where I'm at with it.
24:10I love the idea of...
24:11I love the storytelling.
24:12I love the idea of...
24:13When I go on holiday, being able to select the right of...
24:16Amount of pictures and put them in a book.
24:18But I feel like, for me, he's quite...
24:21busy, but also wants to do this.
24:22I feel quite overwhelmed...
24:23Mm-hmm.
24:24That it's a year.
24:25And...
24:26How much I have to do to complete this.
24:28But I do love where you're kind of...
24:30Going with it.
24:31I just don't think it's perfect.
24:35So I am out.
24:36I do wish you the best of luck.
24:41And I're just I am out.
24:43...
24:44You could-
24:45You could see your first house.
24:46I mean...
24:46...
24:47I don't know anything.
24:48I know anything.
24:50You could squeal to check some of them.
24:55David 하� comme d'autrely,
24:56hopeful day.
24:57Oh, now!
24:59Let's kind of say...
25:05I can't do that.
25:09I am to do an angel in a house.
25:10I can't do that.
24:51So, do you know, when I sit here so long and we're kind of, you know, in limbo,
24:56it's for one of two reasons, or my gut does one or two things.
25:00It goes...
25:01I've been in here too long.
25:02I don't love this enough.
25:04So I really do...
25:06I really do need to declare.
25:08Or it says...
25:11There's something in here holding me in.
25:16And I think there is something about this.
25:18You have got something.
25:21And I know environmental credentials are very important to you.
25:25And...
25:26I think we've really doubled down on that as well.
25:28I don't think there's anything...
25:29If I were you, I'd be really...
25:31I'm going to be quiet now because my next pose was when I take a breath like that...
25:36It usually means...
25:38So...
25:41I'm going to make you an offer.
25:46And I'm kind of surprising myself a bit.
25:51To be perfectly honest.
25:52But there is something about you and there is something about this.
25:56However, your valuation, I've got to tell you, is crazy.
26:00You ask...
26:01For £70,000 for 4%.
26:03So I am going to offer...
26:06For £50,000 for your other money.
26:07But I want 12% of the business.
26:11Thank you for your offer.
26:16I really like the business.
26:20I really...
26:21I really like it in part because it's something that I wish I had.
26:24Because I've got 200,000 photos.
26:26In my phone.
26:27And if I could, in a couple of clicks, print out my favourite ones.
26:29Especially for like Valentine's Day.
26:31With my missus when I do my little scrapbook thing.
26:32And these are the big occasions for my friends and family and stuff.
26:35Especially if I can send it...
26:36To them.
26:36I would 100% be doing that.
26:39So...
26:41I am going to make you an offer.
26:46I just can't figure out how...
26:47Like 4% to me is just never going to happen.
26:50Hmm.
26:51However...
26:52I would make you an offer for all of the money for 15%.
27:01Thank you very much for your offers and your kind words as well.
27:06They really meant a lot.
27:11What I want to do with this business...
27:16Is I want to build this photo printing business.
27:21And in parallel, I want to also build out one of the biggest kind of authentic...
27:26media channels and voices on the internet.
27:29So I think...
27:31It would make sense to partner with you.
27:34However...
27:35The percentages...
27:36I am not going to work.
27:40That...
27:40That's too far.
27:41I am not going to work.
27:42I am not going to work.
27:43I am not going to work.
27:44I am not going to work.
27:45I am not going to work.
27:46I am not going to work.
27:47I am not going to work.
27:48I am not going to work.
27:49I am not going to work.
27:50I am not going to work.
27:51I am not going to work.
27:52I am not going to work.
27:53I am not going to work.
27:54I am not going to work.
27:55I am not going to work.
27:56I am not going to work.
27:57I am not going to work.
27:58I am not going to work.
27:59I am not going to work.
28:00I am not going to work.
28:01I am not going to work.
28:02I am not going to work.
28:03I am not going to work.
28:04I am not going to work.
28:05you're going to try and do piece number two,
28:07which is the media part.
28:09To be in.
28:10Even for the ride, you wouldn't get me psychologically and spiritually in for the ride at 9%.
28:14That's me being.
28:15Being completely honest.
28:16Mm-hmm.
28:17So.
28:18Where do you think we can get to?
28:1915%.
28:20It's a non-negotiable.
28:22Um, okay.
28:25Of course.
28:26It's got to feel good in your heart.
28:27Do you love this?
28:28I love it.
28:29I love it.
28:30Do you love it?
28:31And I'm already a-
28:30I'm a customer even if I'm not an investor, so.
28:35If you love it, we've got a deal.
28:38Let's go.
28:39Let's go.
28:40Well done.
28:41Well done.
28:42Well done.
28:43I look forward to working with you.
28:44Bye bye.
28:46A magic moment for Murad.
28:50Bye bye.
28:51Bye bye.
28:52Bye bye.
28:53Bye bye.
28:55Bye bye.
28:56That was way more intense than I thought it was going to be.
29:00and gained a new business partner whose skill set is picture-person.
29:05Perfect for his business.
29:07Okay.
29:08We've got Stephen Bartlett in our corner and...
29:10Yeah.
29:11I'm very excited about the next step.
29:25Hi, my name is Carmen Gade.
29:30And this is my business partner, Yosef Brahani.
29:33Oh, my God.
29:35And we are the co-founders of the original Teflé.
29:40Oh, my God.
29:41Oh, my God.
29:43Carmen is a very...
29:45passionate woman.
29:46I don't know why I've been missing this.
29:48I should feel nervous.
29:50Medicated.
29:51I think it's because they're all watching this.
29:53And Suru Teflé.
29:55We've found a common destiny.
29:57And it's a wonderful thing.
30:00To share, yes.
30:01Yeah.
30:04Coming to the Dane.
30:05Yeah, it's a wonderful opportunity for Teflé, as well as for us.
30:10Okay, my brother.
30:11Okay.
30:12I feel a little bit nervous, but I've prayed.
30:15And I just know God is with me.
30:16So, yeah.
30:28Hello, Dragons.
30:29Hello, Dragons.
30:30My name is Carmen Gaddeh.
30:31My name is Yosef Prohané.
30:33And we are the...
30:35Founders of the original Teflé.
30:37We are here to look for a strategic...
30:40partnership, as well as an investment ask of £100,000.
30:45for 2.5% of our plant-based Tefl drink company.
30:50I'm a proud son of Ethiopia.
30:53We've been growing Tefl for...
30:55thousands of years.
30:56Tefl is Tefl for Ethiopia.
31:00It is rich in protein, fibre, and it's a gluten...
31:05free naturally.
31:06It's a vegan-friendly.
31:07It's an amazing product.
31:10The original Tefl is on a mission to revolutionise and disrupt the...
31:15plant-based drink market.
31:16We have four amazing flavours.
31:20We have the original, which has not added sugar and will appeal...
31:25two health-conscious consumers.
31:27We have the barrister, which would be great in...
31:30creamy cappuccino or a Tefl latte.
31:33We have the Tefl...
31:35coffee plus, which has got a hint of vanilla for a little bit of indulgence.
31:39And...
31:40we have the chocolate for a guilt-free pleasure.
31:43As we speak, the original Tefl...
31:45...we have the chocolate for a guilt-free pleasure.
31:46As we speak, the original Tefl...
31:47...we have the chocolate for a guilt-free pleasure.
31:48As we speak, the original Tefl...
31:49...we have the chocolate for a guilt-free pleasure.
31:50As we speak, the original Tefl...
31:51...we have the chocolate for a guilt-free pleasure.
31:52As we speak, the original Tefl...
31:53...we have the chocolate for a guilt-free pleasure.
31:54As we speak, the original Tefl...
31:55...we have the chocolate for a guilt-free pleasure.
31:56As we speak, the original Tefl...
31:57...we have the chocolate for a guilt-free pleasure.
31:58As we speak, the original Tefl...
31:59...we have the chocolate for a guilt-free pleasure.
32:00and with Sinkey.
32:01And we are in active negotiations now with Costco.
32:05And Morrison's.
32:07To date, we have almost raised it.
32:10Nearly two million pound, but we also have interest.
32:15So expand later down this year to India.
32:19And
32:20Yes.
32:21And we hope that you would try our products and I hope you like them.
32:25As much as we do.
32:27Thank you for listening.
32:28Thank you. Yes, please.
32:29OK.
32:30A range of dairy free drinks made from Teff.
32:35The crop grown in East Africa is the proposition from Carmen Gadi and Yogi.
32:41It's up for me.
32:42Yes.
32:43Great. Thank you.
32:44It's all labeled nicely.
32:46The duo are seeking a hundred thousand pounds.
32:49Oh, it's powder.
32:51Also, there's nothing inside them.
32:52Sorry.
32:53I was like, oh, that's interesting.
32:54These are
32:55prototypes.
32:56In return for a two and a half percent share in their.
33:00company.
33:01Right.
33:02Let me just put that down so it doesn't go all over.
33:05me.
33:06A plant based Deborah Meaden is first to find out.
33:10more.
33:15Thank you very much.
33:16So, I have never heard of Teff.
33:20What is it?
33:21Teff is Ethiopian.
33:25Great.
33:26That has been here for almost thousands of years.
33:30Teff is.
33:31So, is it a wheat?
33:32Is it a grass?
33:33It's a grass.
33:34It's a grass.
33:35It's a grass.
33:35Right.
33:36Okay.
33:37Lovely.
33:38So, you've raised two million pounds.
33:40already.
33:41Now, that's quite a stunner for your pre-revenue.
33:43You haven't sold any yet.
33:45Even this is a prototype.
33:46Yeah.
33:47So, how did you raise two million pounds?
33:50And from where?
33:51So, we went to Angel Investors and we've had significant tracks.
33:55But there was one who really aligned with our values.
34:00and our purpose.
34:01And this is why we said we would like a strategic partnership.
34:05because we would want someone to understand that it's not just about the product.
34:10but it's about supporting agriculture, soil irrigation, ethical...
34:15...farming, you know, supporting communities.
34:17And how much, how much did they...
34:20put in, that one person? It's a company. It's a company. Yeah, it's a company.
34:25They put in two million. We're in the final. We're at 90% now.
34:30With raising the funding capital. So they've pledged it.
34:34They haven't actually...
34:35They haven't actually handed the money over yet. No, no.
34:40Carmen and Yosef. Yes. Hi. Pleased to meet you. Good to meet you.
34:45I just want to quickly cover off the people that are saying they're going to give you two million.
34:50Yeah. What equity are you negotiating with them?
34:547.9%.
34:56For two million. Yes.
34:58So how have you managed to get a 20...
35:0025 million valuation with a brand and a box?
35:04Best...
35:05Best on the plant-based drink market right now. The growth is 7.5%.
35:10In the UK alone and 13.5% worldwide.
35:15But why have they done that with you? Why... I mean...
35:18By the grace of God.
35:21Don't take this the wrong way, but... No, we understand.
35:23It's made me highly sketchy.
35:25It's made me very skeptical straight away.
35:26Okay.
35:27That you've been able to...
35:28Unless there's something I'm missing and that's why...
35:30I want to extract if it's possible. No, no, it's fine.
35:33What is it that has...
35:35enabled you to get a two million pound potential investment at a valuation of 25...
35:40million pounds for a business that yet doesn't exist?
35:43The founders explained that we don't...
35:45necessarily just invest in a product, but we invest in the people.
35:50And who we are, you know, we work together, we're...
35:55strong together, and we are driven together.
35:58So tell me about what we...
36:00What have you done before this?
36:02So, uh...
36:03I have a coffee shop business.
36:05And, uh...
36:06I have a...
36:07I have a maintenance and a logistics...
36:09I have a maintenance and logistics...
36:10company...
36:11small company.
36:12But in our restaurant, we do serve injera.
36:14In Jera...
36:15I get it from the TAFE.
36:16Okay.
36:17So that's what we were doing.
36:18And Carmen, you're...
36:20I'm a nurse by background.
36:21I completed my nursing, I did my masters, and then I went into...
36:25open in a home care company, which cares for individuals with, um...
36:30end of life, cancer, um...
36:32learning disabilities, mental health.
36:35And the two of you come together, how did that happen?
36:38I sadly lost my mum in...
36:40in 2023.
36:41I'm sorry for that.
36:42And...
36:43I'd gone to the funeral home, and...
36:45I came out with my brother, and I just said,
36:47I can't go home right now.
36:48I'm not able.
36:49So...
36:50we said, let's just go for a coffee.
36:52And we went into the coffee shop, which was two doors down.
36:55And I couldn't find anywhere to have the work for my mother.
36:59And...
37:00Joseph had overheard me saying this.
37:02And he said, listen, just have my coffee shop.
37:04And then he...
37:05he served as Njerra.
37:06So we got talking about Njerra, how good it was, and the...
37:10I just said, oh, you know, like, as a passing comment.
37:12I thought we could make this into probiotic drinks.
37:14And then we sat...
37:15we sat down and we put our heads together and we said,
37:17let's try a plant-based milk alternative.
37:20OK.
37:21You seem to have come alive, Carmen, now.
37:22You look...
37:23Because I'm...
37:24I was nervous.
37:25I'm so...
37:25Oh, no, I was so nervous.
37:26Yeah, yeah.
37:27I forget your people.
37:28I don't know why you're nervous.
37:29To raise two million, you must have some...
37:30that sort of superpower.
37:31Because I think that's amazing at that valuation.
37:33Can I ask my last question?
37:34What happens if...
37:35that investment doesn't happen?
37:36What will you do?
37:37We've brought it as far as this, you know.
37:40And I know my mum had also left me some money.
37:42So I would be willing to invest everything.
37:45that I have into this because everybody's loved it.
37:47Everybody loved the taste.
37:48It won't...
37:49It won't stop.
37:50It won't stop.
37:51It won't stop, definitely.
37:52It won't stop, definitely.
37:55What a beautiful story.
37:56And very serendipitous.
37:58What I'm about to say...
38:00you're not gonna like.
38:01Okay.
38:02In my years of investing...
38:04In my years of investing...
38:05I've never in my life heard of anyone raising two million pounds
38:09for seven percent of...
38:10their business.
38:11Pre-launch.
38:12Unless...
38:13the founder...
38:15has had tremendous outsized success...
38:18in an area related to...
38:20it...
38:21or in another area before.
38:22So I'm saying that...
38:25I'd be extremely cautious.
38:26And don't factor in anyone's words...
38:28until the money is in your bank account.
38:29Amen.
38:30I agree.
38:31Not even when the contract's signed...
38:32when the money's in your account.
38:33Amen.
38:34I agree.
38:35It...
38:36I don't think...
38:35that's gonna happen.
38:36I've just never seen that ever...
38:38in my entire life.
38:39Ever.
38:40So I'm saying that out of love.
38:42I'm saying that out of love.
38:43Thank you so much for your...
38:44for your advice.
38:45And you know...
38:46whether it happens or not...
38:47we've been able to have the grace...
38:49to be able to make...
38:50such a product...
38:51that is...
38:52so fantastic to us.
38:55I sense a real...
38:56hunger, determination...
38:58angst and pain.
39:00underneath the surface with you.
39:01I...
39:02there's something in you...
39:03that's given you that...
39:05that...
39:05that steely dog.
39:07Yes.
39:08And I'm not gonna let go of that.
39:10What is that?
39:11I think it's...
39:13erm...
39:14going through...
39:15toughness...
39:16hard life...
39:18erm...
39:19toughness...
39:20hard life...
39:21erm...
39:20struggles...
39:21trials...
39:22tribulations.
39:25But...
39:27I believe in...
39:28what...
39:29what we have...
39:30it's not...
39:31things don't happen by accident.
39:33I don't believe...
39:35in coincidence.
39:36And...
39:38that's the thing that...
39:40drives me.
39:41No matter what...
39:42I put my hand to...
39:43I'll make sure it's turned around.
39:46I certainly don't think you're gonna give up.
39:48I'll give you that.
39:49So...
39:50I'd bet on you as an individual because of that determination.
39:53I see it in your eyes.
39:54But I can't bet on this...
39:55business without more information.
39:57I think this is just too early for me.
39:59I just don't have enough...
40:00evidence.
40:01So...
40:02I wish you the best.
40:04And I'll be reading for you.
40:05But I'm gonna say that I'm out.
40:11Youssef and Carmen.
40:12Erm...
40:13There's no real background here.
40:15And I also struggle with the fact that...
40:18you've come in at a £4 million value...
40:20valuation.
40:22It's just...
40:23I'd be really candid.
40:24It's a...
40:25It just doesn't work out.
40:26It's...
40:27It's just not right.
40:28So...
40:29I'm gonna say that I'm out.
40:32But I really appreciate you coming in...
40:33at least giving it a go.
40:35That's fine.
40:38Hi.
40:39Erm...
40:40I think this is where I'm at with it.
40:41I do just resonate with what...
40:43what Steven and Peter are saying is...
40:45just quite...
40:46an early investment.
40:47But...
40:48you're clearly incredible entrepreneur.
40:50and you've clearly got this incredible...
40:52fight in both of you and...
40:54I think your story...
40:55is amazing.
40:56But...
40:57for me...
40:58today...
40:59it's not an investment.
41:00So I am...
41:00out.
41:01I wish you...
41:03Best of luck.
41:04Thank you so much.
41:07Kaman Yusuf.
41:08Kaman Yusuf.
41:09Kaman Yusuf.
41:10Kaman Yusuf.
41:11This...
41:12is a personal mission...
41:14for the two...
41:15of you.
41:18And I respect that.
41:20but...
41:21you've not convinced me...
41:23that...
41:24this is...
41:25this is a business...
41:26where I may even...
41:27get my money back.
41:29and for that...
41:30reason...
41:31I'm out.
41:35So go on guys.
41:40I'm...
41:41I'm...
41:42plant-based.
41:43Um...
41:44so...
41:45why would I choose...
41:45this over my preferred...
41:46which is oat milk?
41:49Why should I switch?
41:51How's your moment?
41:52Because it's gluten-free?
41:54I'm...
41:55I'm not gluten intolerant...
41:56all I'm bothered about...
41:57is plant-based.
41:58So simply...
41:59if you...
42:00compare it...
42:01like for like...
42:02you got...
42:03better protein...
42:04and as well...
42:05there is no test...
42:06that's gonna live...
42:07on a mouse...
42:08after you test it.
42:10so...
42:11TEF naturally is...
42:12uh...
42:13it doesn't have any test...
42:14so...
42:15It does...
42:15and...
42:16it's actually got...
42:17quite a strong taste.
42:18Okay.
42:19That's the bit...
42:20you can't...
42:20tell me...
42:21because I've tasted it.
42:22It definitely has taste.
42:23It has taste?
42:24It has taste.
42:25It has taste.
42:25quite a lot.
42:26The...
42:27erm...
42:28the other thing...
42:29oats...
42:30I just...
42:30oats...
42:31we are a story.
42:32We are a culture.
42:33We are a heritage.
42:35we are supporting...
42:36ethical...
42:37and sustainability.
42:39It's a move...
42:40government...
42:41not just a plant...
42:42drink.
42:43Now, and I...
42:44I...
42:45Listen, I understand...
42:45all of that...
42:46but I promise you...
42:47there's a load of oat...
42:48brands out there...
42:49who say exactly...
42:50the same thing.
42:50So, here...
42:51here's the issue for me...
42:52I don't know...
42:53I suspect...
42:54you're on...
42:55to something.
42:56So, I think...
42:57you might have...
42:58some new market...
42:59however...
43:00I think you're gonna...
43:01struggle to change...
43:02people who are...
43:03really settled into...
43:04their plant-based drink.
43:05I prefer oat.
43:06Now, that's not...
43:07that doesn't mean to say...
43:08that's any better or worse.
43:09That's just...
43:10that I prefer oat.
43:12So, I'm afraid...
43:13I won't be investing.
43:14I'm out.
43:15It's fine.
43:17Thank you, Douglas.
43:19And good luck.
43:20Good luck.
43:21Nice to meet you.
43:24Unfortunately...
43:25for Carmen and Josef...
43:26they must leave...
43:27empty-handed.
43:31But despite their failure...
43:32to clinch a deal...
43:33But despite their failure...
43:34to clinch a deal...
43:35I think it's okay.
43:36The duo...
43:37remain resolute.
43:38That is fine.
43:39I wouldn't make it...
43:40anyway.
43:41We will make it anyway.
43:42I'm a little bit disappointed...
43:43but...
43:44the positives...
43:45who we are...
43:46they complemented a lot...
43:47on who we are...
43:48as people.
43:49At the end...
43:50of the day...
43:51nothing's gonna stop us.
43:55I'm not gonna stop you.
44:00It's crazy.
44:05My name is Gulshan Bado and I am from Solihall, West Midland.
44:10Exciting?
44:12Let's do this.
44:13Look up, look.
44:14We are a global...
44:15We are a global movement empowering women and girls across the world so they can take that control of their own safety.
44:20And stay safe, wherever they may be.
44:22Who do we want?
44:23All of them.
44:25We would absolutely love either Deborah or Jenna to join our mission because we are an all-female officer.
44:30We are an all-female organization.
44:32Ready?
44:34Well, equally...
44:35One of the gentlemen would be amazing too.
44:40One of the gentlemen would be amazing.
44:45Hello Dragons, my name is Golshan Bano and I am founder of Strike Back South Defence
44:50for Women.
44:51I am here today looking for a £25,000 investment in return for a 10% equity.
44:55After being subjected to violence in a tax force working as a pharmacist, I started
45:00working as a pharmacist.
45:00I started to learn self defence skills so I could take back control of my own safety.
45:05As a very personal journey has now grown into a global mission.
45:09Today Strike Back South.
45:10Strike Back South Defence teaches women and girls practical life-saving skills across the world.
45:15We are martial art and we are not a sports based system.
45:17We are a mission driven global movement teaching for
45:20real life scenarios women and girls face.
45:22Here in the UK one woman is
45:25killed every three days and 3,000 women are subjected to violence every single day.
45:30In just 11 months since our launch, we have qualified 28 instructors and
45:35launched 12 franchises and generated a turnover of over 83,000.
45:40We are already active across the UK, Ireland,
45:45Belgium and Australia.
45:46Our mission is bold and global.
45:49We want to
45:50place a female self defence instructor in every major town and city across the world.
45:57What I'd like to do now is invite
46:00my co-instructor Hannah to demo one of the most common attacks that women face.
46:04This is something that
46:05happened personally to me and that's a hair pull or a pull from behind possibly taking you to the ground.
46:10We teach a lot to girls and women how to be able to take control of the situation.
46:15before you go to the ground so you can get away and escape.
46:17That's what we're going to do.
46:18That's what we're going to do.
46:20When you're ready, Hannah.
46:21Hey, come on!
46:22Get off me!
46:23Get off me!
46:24Get off me!
46:25Get off me!
46:26Back away from me!
46:27Leave me alone!
46:30Get off me!
46:31It's simple, it's effective and it's quick.
46:33It's simple, it's effective and it's quick.
46:34Hannah, I would love to
46:35you to come and have a go.
46:36Just to see how simple and easy this is.
46:38Yeah.
46:39And it's available on everyone.
46:40Everybody can do it.
46:41Of course.
46:42Definitely.
46:43Self-Defense Club.
46:45Self-Defense Club.
46:46I'd like the best we'd like to become.
46:47You know, we still have the best.
46:48Or we're going to you.
46:49Let's go.
46:50I'm the best.
46:51I'm a, I'm the best.
46:52Now, I really.
46:53I'm the best.
46:54I really hope.
46:55I'm the best.
46:56I'll have a good feeling.
46:57I'll have a good feeling.
46:58So, I'll be good at you.
46:59What are you going through?
47:00Up next?
47:01I would love to know.
47:02I would love to do this.
47:03I'd love to.
47:05I'd love to hear you.
47:06You're planning to do this.
47:08I'd love to know.
47:14In return for a 10% share in her business.
47:18I thought I had a more powerful...
47:19...punched to be honest.
47:21That was powerful.
47:22Jenna Meek might have already packed...
47:24...a punch.
47:25Thank you, Anna.
47:28But will Gulshan's business...
47:29...prove a knockout amongst the dragons.
47:34Um, you've definitely identified a problem.
47:39Yes.
47:40And just tell us a little bit about your journey.
47:44Um, so I was a pharmacist.
47:47Went to medical school first, then went on to do...
47:49...but doing my experience as a pharmacist.
47:51I've been followed, back to my car.
47:53I've been...
47:54...attached in a car park.
47:55I've been hauled over the counter at work...
47:57...in the big train farms.
47:59...to see.
48:00I'm a petite woman.
48:01I'm five foot.
48:02And I think often people perceive...
48:04...you as an easy target.
48:05And we got to a point where...
48:07...after one of the most serious attacks...
48:09...that I thought, I'm not going to be so lucky next time...
48:11...and I need to learn some skills to keep me safe.
48:13And that's...
48:14...that's when I started learning self-defence skills.
48:17So, you launched just 11 months.
48:19...as the franchise and certification model, yes.
48:22So, the business...
48:23...your...
48:24...pitching today...
48:25...is...
48:26...is a franchise.
48:27...is a franchise, yes.
48:28So, can you just tell us...
48:29...how that franchise works?
48:31So, the franchise model is...
48:32...um...
48:33...ladies come...
48:34...to us...
48:35...who are interested in becoming instructors...
48:36...they join us...
48:37...and as a franchise...
48:38...they get...
48:39...with the Stripeback brand...
48:40...and the business in a box.
48:41Hannah is one of our franchisees.
48:44So, they pay a franchise fee...
48:46...I train them as instructors...
48:47...and then they go off and...
48:49...to teach...
48:50...using the brand.
48:51Right, so...
48:52...your income off that franchise...
48:53...is what...
48:54...is what I'm interested in.
48:55Up to now...
48:56...the 12 franchises we have...
48:57...have been sold...
48:58...on an average of around...
48:59...is three and a half thousand pounds.
49:00Right.
49:01Our current price now...
49:02...just as we're moving on...
49:04...scaling...
49:05...is fifteen thousand pounds...
49:06...for a franchise.
49:07Wow, it's quite...
49:09...quite punchy...
49:10... fifteen thousand pounds...
49:11...for a franchise.
49:12So, as...
49:14...as a franchisee...
49:16...how much do you estimate...
49:17...that I would make a year?
49:19...a franchisee that runs...
49:20...for example...
49:21...four classes a week...
49:22...your revenue...
49:23...can be anything.
49:24...from 4k...
49:25...to 5k a month.
49:26So, you're saying...
49:27...that...
49:28...you're saying...
49:29...that...
49:29...I would make...
49:30...um...
49:31...50,000 a year.
49:32Yeah.
49:33And probably...
49:34...my...
49:34...overheads...
49:35...will be...
49:36...10,000 a year.
49:37Yeah.
49:38And...
49:39...you want me...
49:39...to pay...
49:40...15,000 up front.
49:41Yeah.
49:42So, I would actually...
49:43...be doing a lot of it...
49:44...for...
49:44...for charity...
49:45...but...
49:46...pro bono.
49:47So, our revenue model...
49:48...for instructors...
49:49...who are qualified...
49:50...and how they earn money...
49:51...is...
49:52...it's huge.
49:53So, we teach within schools...
49:54...we...
49:54...we teach wellbeing days...
49:55...we teach one-to-ones...
49:56...we teach community groups...
49:57...we teach in corporates...
49:58...we teach...
49:59...you know...
49:59...we teach in universities...
50:00...we teach in colleges.
50:01So, there's a huge revenue...
50:02...plus their own classes.
50:04... niewARREN!
50:06Goldstein.
50:07Yes?
50:08Um...
50:09Really important-
50:09you're doing well done and congratulations thank you are you profitable at the moment
50:14we're very profitable have you given the numbers yet 83 000 turnover 83 000
50:19and the profit so my apologies my brain fog isn't great so
50:24total from june last year to now um was 83 950.
50:29and our net profit was fifteen thousand eight hundred and one
50:35but this is based on the figures where our franchises were around three and a half hours
50:51you
50:39three thousand pounds not on the new price point where we're going and what are you forecasting for
50:43this year
50:44this year we would like to get um we'd like to double our franchises and we're going in now
50:49at the higher price point and one of the things that came back to us again and again is your
50:53franchise
50:54and 15 000 is too cheap really really free uh consultancy
51:10you
50:59the agency said you should be pitching more on the 25 mark how about 25 yeah
51:04have you asked hannah if she'd appeared fifteen thousand
51:17you
51:09the agency said this is where it does change hannah came in at a
51:13a
51:14lower lower lower price now price point now for our certificate so we have a certification model not
51:18just the franchise
51:26you
51:19the certification model is women that are maybe currently running a business or they run a yoga
51:23studio or they have
51:31you
51:24something they do at the moment but they want to add self-defense into it so they come along and they
51:28get qualified and certified
51:39you
51:29and then they go off and teach under their own name and their own brand and that's priced around three
51:34and
51:34and a half thousand pounds so the people that are currently interested in the franchise it's a slightly
51:39different investor model at the fifteen thousand okay
51:44and i can see your purpose i can see your mission and i almost want to say like have you just
51:49increased that to fifteen thousand because you knew you were coming on dragon's den and you knew you're
51:53going to get grilled about making this
51:54you
51:54no no no not at all not at all we we will attract different people we've
51:59kept the low price for the certified instructors for those women that don't have
52:04that revenue and don't want to run it as a hugely serious business but want to run it on part-time
52:17you
52:10they pay the three and a half thousand pounds for a certification and they're done and they can go and earn
52:24you
52:14they can earn that money the franchise in terms of the brand is for
52:31you
52:19It's a different client, it's a different kind of woman or a businesswoman that we're attracting now.
52:24She wants to scale and grow this.
52:26Yeah, but I think this will be a massive...
52:29...barrier to unleashing your purpose because I don't know anyone that's got 15...
52:34...thousand pounds sat around to do something like this.
52:36Are you willing to change this? Are you really fixed on...?
52:40No, 100% will it change.
52:42OK.
52:43It was never...
52:44We wanted to price out the people we really needed.
52:47And that's where I guess the certification model...
52:49...does come in because that price point is there for them.
52:52And that's why I think your model is...
52:54...broken because you're going to lose people at the certification point and then you're not...
52:59...going to capitalize off them to actually come back into the business.
53:01So I think a day in a room...
53:04...you can fix this.
53:05OK.
53:06This is not the issue.
53:07OK.
53:08It's simple.
53:09Do you know what I mean?
53:10That is a simple fix.
53:11So, like, my question would be, if I...
53:14...because I was an investor and I started tomorrow...
53:16Yeah.
53:17...what is your current barrier and what would you want...?
53:19...my actual help from.
53:20I would want your help to...
53:23...to help us...
53:24...manage how we are scaling.
53:26This is still me by myself, Jen.
53:27And I'll hold my hand out and say...
53:29I'm not the best business person in the world.
53:31I'm a pharmacist.
53:32He's doing amazing.
53:33And I'm a woman with a passion.
53:34I think so.
53:35But what I do believe is in the mission and why this needs to be.
53:39Every female across the world needs to have some basic skills.
53:42It's as simple as that.
53:45Goshen.
53:46I think what you're doing is incredibly important.
53:49But I think you need someone who has...
53:52...experienced scaling a franchise model.
53:54But you actually don't need the investor to get that experience.
53:57And there's...
53:58...there's a lot of great people...
53:59...out there who would be willing to support a mission-driven business...
54:01...who have that experience scaling a franchise model.
54:04But I don't have that experience.
54:06So I'm going to say that I'm out, but I wish you the very best.
54:09I think so.
54:13Goshen.
54:14Um...
54:14You've presented so well.
54:19Honestly, your energy is great.
54:24But this isn't an investment-led business because I think...
54:29You will find that an investor will want to exploit the business to make money.
54:34As opposed to, perhaps, maybe even philanthropically...
54:39Investing in this to support it, to get it going, to get this move...
54:44...to do exactly what you're trying to achieve, rather than how much money...
54:49...did we make this quarter and how much dividend can I take out?
54:53Because I think that could...
54:54...stifle the growth and the movement you're trying to achieve.
54:58I think all of the...
54:59...this money that you're going to generate needs to be reinvested continuously.
55:04Which ultimately means that an investor can't ever get a return on their investment...
55:09...if they were to invest.
55:12And for that reason, sadly, I'm out.
55:14It's fine. Thank you.
55:17Erm...
55:19I love your passion.
55:23But as a business...
55:24this is your journey I don't really think
55:29you need a dragon because an investor has already been said
55:34the investor wants to make a return on their investment
55:37you have a different mission
55:39so I'm going to wish you all the best
55:44today this is not investable and I'm out
55:47thank you thank you so much
55:49I'm sorry
55:54I'm here getting incredibly annoyed at everyone speaking
55:57we're just getting labelled as an
55:59investor with like
56:00we're all the same
56:01I could not care less
56:03I'll give a
56:04money back because I know exactly how to build a business
56:06I know exactly how to build a business
56:08it's got a
56:09purpose
56:10oh my god it's where I absolutely thrive
56:13I
56:14it's like it's what wakes me up
56:16not worried about when I'm going to get my money back
56:18worrying about when we've done our
56:19mission on that business
56:20that's all I care about
56:22like you do that
56:24well
56:24well
56:25with a good business mind
56:26the money just comes
56:29so
56:29So I would love to join you on this.
56:33So I would love...
56:34to give you all of the money
56:35and for the 10% you asked for
56:37because I believe in you
56:38and I believe in the...
56:39a mission and I think you're amazing.
56:44I'm so pleased.
56:47Me too.
56:48You did.
56:49You know, the reason I was sitting here
56:53quietly, I was thinking...
56:54there is a perfect partner for you here.
56:57And I was sitting here thinking
56:58if you hadn't made the offer...
56:59for Jenna, I probably would have.
57:00But I think actually,
57:02Jenna's a better partner for you.
57:04So you...
57:04You know what I'm going to say, don't you?
57:05Because, you know,
57:06you've got exactly who you need.
57:09And you should be delighted.
57:11That's a great offer.
57:12So I won't be investing.
57:14I've never been...
57:14I'm so happy not to invest.
57:15Thank you so much.
57:17I'm out.
57:19Thank you so much.
57:20I am beyond thrilled, Jenna.
57:23Thank you so much.
57:25Are you accepting the offer?
57:26I completely accepted the offer.
57:27Yay!
57:29Thank you so much.
57:33Well done.
57:34Good luck.
57:34Sounds right.
57:34That's pretty awesome.
57:35Yeah, well...
57:35Thank you so much.
57:39Gulshan has done it.
57:43She leaves the den...
57:44with £25,000.
57:48Ow.
57:48Ow.
57:48Ha ha.
57:49Having become the beneficiary
57:51of Jenna Meeks' first ever Dendee.
57:54If I change the world,
57:56I'm going to go change the world.
57:57It's amazing.
57:59Do you know what I love about that?
58:01I go about the world going,
58:03profit isn't.
58:04Just cash.
58:06It's the outcome that you want from a business.
58:08That's all I know.
58:09That's all I care about.
58:09That's brilliant.
58:10That's all I care about.
58:19next time
58:22welcome back
58:24it's great to have you next to me
58:26told myself i would not get my stuff
58:27thank you
58:29thank you lord
58:30it's like my trip to blackpool in 1985
58:32swish is like
58:34a compact device
58:35that cleans your balls in seconds
58:37i would love to work with you too
58:39energy is just
58:40amazing
58:41i just think that's wrong
58:42yours is too
58:43ours is better
58:44i don't know what to say
58:49if you've been a victim of crime
58:53details of organization
58:54offering information and support
58:56you will find on the action line pages
58:58of the bbc
58:59website
59:04you
59:09you
59:14you
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