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00:03tonight
00:09here i'll make you a trade you take this and i'll take this okay there you go good doing business
00:16with you aren't we here to negotiate no no because you told me that you're not oh i said that
00:21but
00:21that was just me like playing hardball we've seen like some great innovation for 20 years and this
00:27counts right up there among the top
00:53oh
00:54yeah we're we're so nervous but we're super chill
00:59walking into the den three babes looking for a dragon to scale up their skincare
01:04hi dragons hey
01:09hi dragons i'm kelsey this is my sister lindsay and our mom debbie and we're from northbrook ontario
01:15we're asking for 400 000 for 20 of our company
01:21we're birch babe high quality skincare for the low maintenance babe
01:2410 years ago our mom hiked from the southern tip of patagonia to the northern tip of chile
01:29by herself
01:31it took her five months when she came home she was so inspired to do more for the planet and
01:36her body
01:36that she actually quit her job and went back to school at 60 and got two diplomas as an organic
01:41skincare formulator
01:49four years ago me and my sister lost our job so we joined birch babe and helped grow the business
01:53and so we launched a massive rebrand of all 60 products and the packaging you see today but
01:59something was missing we want to make skincare for the youngest member of the family too so last year
02:04we also launched birch baby because healthy skincare starts on day one dragons next to each
02:11of you is a curated selection of birch babe products and our birch babies are coming in
02:16with some of our favorite bath time essentials hello babies
02:24birch babe products retail from 20 to 68 dollars online and in over 300 specialty stores across
02:31canada including whole foods keep it up okay they're all natural products range from shampoos
02:37and mouthwash to serums and lotions i tried the birch baby nourishing body lotion it's not greasy
02:44it restored my manicure from two days ago that was the plan so how'd you guys get started on this
02:49uh go ahead okay well over the years i just started making a few things for myself doing a small
02:55business
02:55with local stores and they've just blown out of water like now it's a huge burgeoning business we
02:59hardly keep up you said you had 66 zero correct birch babe tell me a little bit about why so
03:06many
03:07it's so many because we focus on being the elevated everyday brand for everyone i would assume that
03:13between kids and adults the whole family you have different skin needs though we do have different
03:18we have sensitivity skin we mature skin but don't you think that's been done before like honest did that
03:23they had baby first and then they went to the adult to the mom it's not that unique as you're
03:28making
03:29it sound no i don't think it's that unique i think it just hasn't been done in canada and honest
03:35is a
03:35great company but it's a u.s company we have a lot of people shopping birch baby from the u
03:40.s and they
03:41told us they don't trust the regulations in the u.s and they trust the voluntary testing that we've done
03:47which is why they want to buy birch baby i've heard a lot of that too being from canada living
03:51in the
03:52u.s i hear that a lot can we get some numbers what are your salesmen so our sales um
03:57last year were
03:58around nine hundred thousand dollars what are you projecting for this year so modestly on paper we've
04:05put 1.7 million but we're on track to do 2.2 with the growth that we've seen in the
04:11last four months
04:12and all of the new stores that we've signed with respectfully getting to two and a half to five
04:16million dollars in this space isn't that hard it's the next step that is really really hard and we
04:23we know that we don't know that we know that which is that one million is not going to get
04:30us to five
04:30million dollars proven that we can make the product we can make a really good product we can sell a
04:35product with really bad branding we can get a distributor we can get into whole foods now we just
04:39want someone who's done it before so we can grow it how much capital do you think you need to
04:44do the
04:44things that you want to do in the future because you're asking for 400 000 but i think that's a
04:48little light you do we definitely need more um but we're not willing to give up more than 20 at
04:54this
04:54time kelsey i could listen to you all day isn't she awesome but here's my problem is evaluation
05:03and you put yourself in a box with that because you told us that you're not gonna dilute more than
05:0920
05:09percent which means that if i offer you 400 000 for 25 you're gonna say no but aren't we here
05:15to
05:15negotiate no no because you told me that you're not oh i said that but that was just me like
05:19playing
05:19hardball yeah i mean i have wiggle room while wes is contemplating what your deals you know strategy is
05:30i'm gonna go like listen i i've invested millions of dollars into this space there is
05:35a ton of competitive pressure out there like you have no idea you're almost too enthusiastic about
05:43everything being possible and you need to be really focused on what is doable okay so um i'm gonna be
05:51out
05:52so listen i disagree with arlene right i disagree with her because i think your enthusiasm is great
05:58right i think it's you you need that in the business but it's like the smart money arlene is saying
06:04she doesn't want to join the cap table i'm the dumb money so i'm gonna follow her and i'm gonna
06:08be out
06:11kudos debbie 66 years old starting a business like that is so inspiring and you're setting the
06:16stage for other canadians to know they can do it i worry that there's not yet clarity on who you
06:23are
06:23what your brand stands for so i wish you all the best but i am going to be out
06:29i would just say from my perspective i'm glad that you're admitting that the branding is bad
06:33but this is your new branding yeah you're talking about the old brand i don't like oh
06:37i don't like this because to me this speaks to me it's something that's organic but i don't think
06:42this speaks to mom the same way or baby the same way that i would assume everything you're talking
06:46about i don't know i'm i'm not a fan so for that reason i would be out and to that
06:52point i also just
06:53want to say they only launched this new branding a year ago look i believe that all good innovation
06:59comes from iteration try this packaging that packaging it's literally a matter of trial and
07:03error for every single one of those there's lots of work to do but i don't like not backing people
07:11that are this tenacious so i would give you four hundred thousand dollars for 25 percent
07:20okay oh boy thank you so all this has happened in one year and in one year we were willing
07:26to innovate
07:27which within okay kelsey you got to stop selling
07:34but michelle's point on packaging and you keep iterating every time you iterate this package
07:39for 66 skews it costs you a ton of money i want i wanted to agree with you arlene you're
07:47100 correct
07:48it's okay you don't have to she's already out
07:55great pitch i really love the family dynamic like i work with my brothers and i would bet on you
08:02guys
08:03um any day i want to be the fourth family member oh my god we have another one of these
08:09i can help you
08:10the discretion the marketing i'll offer you four hundred thousand dollars for 25 percent okay thank
08:16you so much that's so exciting you mind if we take a moment yes thank you thank you
08:26you can see from the back the proud mom you can see super problem they work well together
08:41this is really hard it's very very hard yeah yeah very heavy this is awesome quick question would
08:46either of you do 22 percent wow i'm gonna stick with my offer at 25 percent
08:59i'll do that what oh oh okay well go ahead lindsay well then then yes we want
09:08we're gonna bling him up and then cover off
09:16awesome are we looking forward to it
09:26hey think you have an idea for the next billion dollar big brand hello dragons come on in
09:34ahoy dragons auditions are open and we want to see you in the den there is a better way this
09:41is so
09:42beautiful what have you got to lose wow oh yeah this is our moment to shine yes yes stop dreaming
09:49start pitching don't you want a bite of the next big thing yes we do let's make a deal good
09:55luck
09:55cheers apply now coming up so are you guys wait a minute are you guys suggesting that this company
10:03is worth two million dollars at this stage it's not that far off given where his revenues are
10:19off next an alberta biker here to light up the den with his safety innovation wow
10:26i haven't seen one of those in here hello i like the license plate dragons 20. one of us gets
10:33to take
10:34this home is that not me hello dragons my name is david bartell i'm from calgary alberta i am the
10:41founder of admore lighting a unique motorcycle safety lighting company i'm asking for two hundred
10:47thousand dollars for ten percent of my business okay dragons whether you've been on a motorcycle or not
10:53i'm sure that you can agree that motorcycling is thrilling but it does come with inherent risks
10:59today i would like to introduce you to an exciting innovation in motorcycle safety lighting cool
11:04customizable canadian designed and canadian manufactured lighting that makes the rider safer
11:11on the road i was a banker for over 20 years but i finally saw the light
11:18for dragons what i would like to do is show you how we light up your rear
11:24how long have you been waiting to say that one david we have four customer motorcycles here each one
11:30of them has our flagship product the add more light bar each of the light bars works with the
11:35vehicle's electric so you can see it's in tail light mode right now i'm going to hit the brakes you
11:40can
11:40see how much brighter that is than the stock tail light i'm going to put the turn signals on and
11:45it
11:45flows in the direction of the turn to give two inputs to the driver's brain behind that the rider is
11:51making a turn for those of you that have ridden a motorcycle before you know what i mean when you
11:56let go of the throttle or you downshift the motorcycle slows down very quickly the inattentive
12:02driver who's often looking on their phone behind doesn't even realize that you're slowing down
12:07because your brake light hasn't come on our light bar will come on automatically as it senses
12:12rapid deceleration that's smart that's ingenious wow interesting and you developed this all
12:18yourself as a banker i did i did in my spare time why what's the story behind it like why
12:25what made you and motivated you to do this well it goes back many years ago when i got my
12:31first
12:31motorcycle uh and i put hard shell cases on the bike and i looked at the back of the bike
12:37and
12:38realized you can't see my lighting and at the time led technology had not evolved and then fast
12:43forward to 2005 i ran across some new led lighting and i made a light kit for my motorcycle i
12:53went ahead
12:53and made a couple of more light kits and i put them for sale on a very little known platform
12:59at the time
13:00ebay ebay and they sold like that i call it a hobby that went wild what's the cost of the
13:08product the
13:08product sells for 2.99 canadian for one of these yes whoa there's there's a lot of technology in there
13:15how much does it cost you to make it uh our margins are 60 to 65 percent that's great prince
13:20have you
13:20priced out if you were manufacturing somewhere else it for me early on it was important to build a solid
13:26brand with high quality and i didn't want to jeopardize that by manufacturing overseas and today
13:33i am so thankful that i made that decision because made in canada has helped to pump our sales this
13:39year right on and how many have you sold since 2005 we've sold over 10 000 light bars we've done
13:47over 6
13:47million in sales walk me through the last three years of sales in 2022 we did 300 000 in 2023
13:57we did 485
14:00and last year just shy of a million that's quite the uh ramp up last year what happened last year
14:06last year we found out that marketing can make a huge difference to your business
14:14okay how much was your profit on that 80 000 net income before taxes but david where are your costs
14:20glating like i'm trying to understand the car if you made let's call it a million dollar business 60
14:2565 margin you should be making close to 400 000 in profit right but you're only taking home 80 grand
14:33where's the rest of the money going so one of the really exciting things that we've been working on
14:36for the last three years is a new patented product light bands that can be put on the rider's arms
14:43and
14:44it integrates with the light bar you choose to make a right turn signal a right turn the right turn
14:48signal comes on that's brilliant so to develop these products close to a hundred thousand dollars so you're
14:54putting a lot of money back into r and absolutely we are looking to launch this product later this
14:58year you're you're actually doing too much right now on your valuation because we we talk about
15:04numbers we run over it you're not making a lot of money you have a two million dollar valuation
15:09where'd you get that from our first quarter is already up 40 percent from last year before we release
15:15any new products before we do anything differently we're already tracking at about 1.4 to 1.5 million
15:20dollars so if i'm going to look at your last 12 months that's pitiful because you only made 85 000
15:26we are putting so much money into research i get it but it's about your valuation but he's invested
15:31all that money into ip for not only the lights but the other products so are you guys wait a
15:37minute are
15:37you guys suggesting that this company is worth two million dollars at this stage it's not that far off
15:42given where his revenues are given that he's making money and that he's got a lot of investment in the
15:47ip
15:47for multiple different products that have really healthy margins listen to make 180 bucks on that
15:53light is pretty damn impressive and i think because it is a safety product it has to be done right
15:59100 right because you got people's lives at stake here absolutely here's the here's the thing i i know
16:06this firsthand so my father is a recently retired liver transplant surgeon sadly where do most donors
16:12come from when you need a liver yep people on motorbikes yeah and what do you hear most often
16:17i didn't see him that's what people so the visibility this is a bright idea but i'd love to
16:22know like how does the insurance industry feel about this could you partner with them there's no
16:27question in my mind we could go to insurance companies and we could offer some kind of a program
16:31where riders would get five percent off their insurance if they install why haven't you done that
16:36yourself why haven't you gone to this just stretched so thin and at this stage there are so many
16:41opportunities for us i would really love to have one or more dragons come in and help me to implement
16:48some of these strategies you know david i have to give you a lot of credit because very few bankers
16:53become good founders bankers are used to criticizing businesses and they're used to protecting their
16:59downside right being a founder takes figuring out that upside it's very impressive what you've done
17:05i just have too many war wounds from hardware so i'm going to be out but i wish you all
17:10the best
17:11thank you michelle i always think in a situation like this is when is this going to become government
17:15regulated that this has to happen anyway and therefore it's going to become a manufactured
17:18component and then you're out of business the reality is governments move very slowly they put the
17:23minimum that they need to have on the bike to get it on the road which is not enough i
17:28i like what
17:28so again i i can build a house with my eyes closed but it's um it's a little outside of
17:35where i focus
17:36so i i'm i'm out if you've built a home with your eyes closed let me know which one it
17:40is because i
17:40don't know i'm not sure that i got you yeah yeah i might have peaked a little bit okay good
17:46um i come
17:49from a world where i'm terrified of motorcycles i really am but i also have so many of my friends
17:54who
17:54this is their number one passion yep and if i can play a small role in helping to make the
17:59world
17:59a little bit safer and maybe it's a multiple dragon deal are you interested what are you thinking
18:04what's the what's the offer i mean i think a bigger percentage of the company between three of us like
18:0925 i will come in at the 20 200 000 for 25 if brian arlene and i can do it
18:14together i can certainly
18:16open up a ton of doors to the insurance company because i think that's where this is going to blow
18:20up
18:22manjeet's got on the distribution side i mean you might have a dream team here of
18:26i i um i really do think that you have a market here for the wholesale huge potential there still
18:32huge so i can really help you with the distribution strategy i sell a lot of products to um canadian
18:37tar and apple hold on a second that's too crowded for me i'm uh i'm gonna be out on that
18:40deal
18:41okay three of us okay three of you 200 000 for 25
18:53that's a lot of equity to give up um would you be open to 200 000 for 15
19:01sorry i don't get out of bed for five percent would we do 20 20 for three
19:11uh we will do 20 20 for 200. done wow thank you so much all right yeah i'm looking forward
19:21to
19:21working with you thank you me too thank you so much first banker i've met that i actually liked
19:26no i'm just kidding i like all bankers didn't do a deal with one dragon didn't do a deal with
19:30two did
19:31do a deal with three dragons i'm pretty excited anybody can become an entrepreneur so age or stage
19:41or or education it really doesn't matter what matters is if you have a dream and you dare to pursue
19:47it i'm a mom of five small kids on an average week i do 98 socks so what i did
19:54was i came up with
19:55snappy socks these socks help frazzled mothers keep it together i see they snap together it's such a
20:01convenience not to lose the socks i see it i'm just wondering if we can sell a million pairs of
20:05them arlene we can do anything nine kids between the two of us you're an impressive woman thanks
20:10arlene really impressive yeah thank you a lot of people are afraid to tell their story the hustle how
20:16they started from nothing but you gotta tell that story i'm a police officer a year ago i was seriously
20:23injured on the job when i was assaulted and attacked in the line of duty i was having difficulties
20:29adjusting to being sidelined and i reached out to my buddy will i went on a tour duty in afghanistan
20:33and i had trouble kind of transitioning back to my civilian job we shared some more stories
20:37thought the best way we can get through this is to build a business so today we have rvs so
20:42you've
20:43started airbnb for rvs absolutely i see it and i i'm taken and i'm good man when you're a founder
20:51your
20:52identity is your own personality it's also your business it's good to not be able to separate those
20:58things that means you care that means you're going to pour your heart and soul into building something
21:01this dragon is our social enterprise we employ immigrant women and i teach them how to sew but
21:08most important that we belong to this country and we can reinvent ourselves yeah you're an entrepreneur
21:14at heart i love it in order to incorporate the business i need to give the control of the company
21:19to a canadian friend because you can incorporate the business if you don't have the permanent resident
21:23okay but i love it with provincial government to show them we was creating employment and i became
21:29the first newcomer women to take control of a canadian company without permanent residence
21:33and now every immigrant in our province can incorporate the business i bet on strong women
21:39i will offer you sixty thousand dollars for twenty five dollars well done well done thank you
21:47bye dragons this is the kind of story that we want to hear yeah yeah everybody should hear this story
21:53if this show has taught me anything it's that entrepreneurs are the reason we innovate and create
22:02change in our world they are the people who don't take no for an answer they are the people who
22:06continue
22:07to build for our country yeah we make a good deal
22:13coming up when my daughter saw that korean doll she said that she looked like a princess oh you created
22:22a product that can appeal to 4.7 billion people exactly all the people that can do us are us
22:40next we are making such a big impact for children worldwide i hope that little girls watching
22:47will really see this and know that they too are worthy and valued in this world this toronto-based
22:54mom is here with the cuddle buddy she never had hi my name is samantha ong the founder of joey
23:02dolls
23:02and i'm here asking for 175 000 for 10 of my company do you remember your favorite childhood toy
23:11yeah growing up i didn't see myself in my toys i spent years wishing that i look different and not
23:18feeling seen and then it wasn't until the pandemic with the rise of anti-asian hate
23:23where all those feelings came back again but this time i was a mom and as a parent i know
23:29how
23:29important it is to raise children who are truly proud of who they are and i created the world's
23:35most diverse asian doll line joey dolls so what better way to showcase the dolls than from the
23:42little kids that love them here we go oh man you're going for my heartstrings okay we're all in joey
23:49dolls celebrate seven different asian cultures with the vietnamese doll being the top seller i love
23:55the outfit hello look at that dude i love that they're currently sold online and come with a qr code
24:01that lets you explore and learn more about the different cultures here i'll make you a trade you
24:13take you take this and i'll take this okay there you go good doing business with you oh my gosh
24:21look
24:21how quick he took it he's like i'm out of here okay i wanted to thank them for coming out
24:26and
24:26showcasing the different cultures bye thank you thank you thank you would you like to give your joey
24:32dolls a cuddle i love the lingo on her i have one almost like it i'm glad you can see
24:38her and you
24:39identify with her did i get two because you know i have a little boy and a little girl exactly
24:44so what
24:45are the seven cultures the one that you usually see in the market when they're trying to represent an asian
24:50doll it's usually the chinese one in red i have japanese here filipina chinese vietnamese cambodian
24:59korean and indian so we actually have our indian one in two different skin tones and that's something
25:03that i really am excited about to do more because even myself i i too have experienced colorism and
25:10it's so deep in asian culture in india a billion and a half people there are no brand dolls all
25:17the
25:17dolls are white really you're fair lighter skin equals pretty and it's not often talked about
25:25and what does joey mean again it was inspired by my daughters uh i i grew up in australia actually
25:30and so we named her my daughter joey a kangaroo when my daughter saw that korean doll
25:37she said that she looked like a princess and that's something that i never imagined that i
25:42could ever be i mean they're adorable but there are companies now there that can do that without
25:47any limitations what's your differentiator then is there a price point that you're coming in at or
25:52so our larger dolls are 75 and our little joey dolls are 29.99 okay but this doll smith is
26:0175
26:01dollars it is yes and they're all handmade okay that's pricey
26:08the cost to make them is 15 so we have about 80 percent gross margin
26:13so do you have within each of these cultures do you have certain upsells for number of outfits
26:19or is it one outfit per right now we only have them in the the original outfits well that's where
26:25you'd
26:25make the reoccurring revenues absolutely outfits on the same doll absolutely tell us about the brand
26:30building because again you search ethnic dolls and there is a lot of things available on the internet
26:36yeah actually we launched in 2023 and within 48 hours we sold over a hundred thousand dollars worth
26:42of dolls and it actually crashed my website and then in 2024 we did 240. when you search asian dolls
26:52we are up there are you paying you're paying for that no we're not paying for any searches you are
26:56very high on search yeah and i am getting customers even out in asia reaching out like
27:02do you ship out here because we can't find these types of dolls have you attempted any sort of mass
27:07distribution that's our next step and that's also why i'm here to be able to be able to fund that
27:13that type of distribution and and how will you feel about this business in five years there is so much
27:19that we can do here we have schools that are very interested in our dolls too they're also in
27:24cultural museums and therapists are also purchasing our dolls for play therapy so there's a lot of like
27:31licensing potential we're actually working with a number of authors right now so that we can build
27:36out samantha you seem like you're like drowning in opportunity oh yeah you do need if the dolls are the
27:43focus yeah you gotta stick to the dolls i don't understand why you're three years in almost and
27:50you don't have tons of different outfits for each of them like i think you're doing the hard stuff
27:55trying to create new things first before you actually build a 10 20 30 million dollar company
28:01yeah he asked me about my five year my five-year outlook no yeah that's right so you're saying yeah
28:07you're asking a question about a long-term dream right you're not talking about now you're talking about the
28:11future like why is this worth 1.75 million dollars many toy brands tend to take years to be able
28:20to
28:20break even but profitable from year one uh people are really buying into my our brand but your valuation
28:27is based in today's facts and today's numbers yeah so brands who have emotional resonance and
28:32storytelling typically have multiples in the four to six range not of revenue they don't they might have
28:38ebit debt but they don't have four to six times multiple but i don't think your valuation is crazy
28:43should we see crazy valuation in the den here this is not one of them that doesn't sound like west
28:47that's shocker coming from you what this is it almost two million dollar valuation on 200k of sales
28:53have you lost any money since you started no i had put in 19 000 uh of my own money
29:00and no debt
29:01she's debt free she's capital efficient you created a product that can appeal to 4.7 billion
29:07people as absolutely all the people that can do us are us okay and that's what i love about your
29:12business that you are looking at the asian market and say i'm gonna bring this to my people
29:20the the category is just not my category but i'm gonna um i'm gonna support you and wish you all
29:26the
29:26best thank you s i own one of the largest if not the largest unscripted production company uh in north
29:32america and we we look for opportunity to create stories around something i don't see exactly what
29:37the story would be here i'm gonna keep an eye on you but at this point i'm out i do
29:44love what you're
29:45doing but i don't see it as an investment opportunity yet you need to i believe that manjeet was right
29:51you
29:51need to stay focused and once you find that focus you'll see whether this is a real opportunity
29:56um and until then i'm going to be out sure i applaud you samantha for creating something
30:01that's more about human connection and kids going that is me i think it's a crowded space
30:07from what i'm hearing and for that reason i'm out so i like you your business and your margins
30:15i just don't like your valuation smile about
30:19samantha i love the mission i wish you were out when my girls were small but i think today
30:25it's just not an investable business and please focus don't drown in opportunity because it
30:30is intentional and it is well thought out i wish you luck but i'm out good luck thanks thank you
30:36thank you thank you so much thanks a lot they are adorable i want my money back from that little
30:42kid he's long gone too late that money's already spent
30:51back in season six a memorable teacher schooled the dragons and set off one of the most iconic bidding
30:57wars in show history hello dragons my name is elaine como and i'm here to tell you about my award
31:03-winning
31:03products called easy daisies the magnetic daily schedules for children can you read those to us
31:08make bed school sport you guys are so cute elaine turned her lesson plans into a business plan i thought
31:17that if i've been making these visual routines for eight years and for free there must be a market for
31:22such a product and i can't keep up with the orders right now and when it came to the dragons
31:26i mean you're
31:27a dream for selling it i mean you're just just oozing out of you oh thank you she passed with
31:33flying
31:33colors i think it's either those two or those two what or it's me oh my god and the teacher
31:41picked her
31:41pet thank you very much am i allowed to hug you with a seventy thousand dollar boost so there's your
31:48check
31:48ready to go elaine was ready to graduate from the kitchen table to offshore production and launch a line
31:54just for adults so whether it's early dementia and early alzheimer's we're excited to help adults have
32:01easier days as well 14 years later this teacher turned entrepreneur hasn't stopped learning how to
32:07reinvent her business and herself it's a still very new product but it has won our 17th award so when
32:14we
32:14went on dragon's den i had said then that i just wanted to grow easy daisies today we are in
32:21staples
32:21scholastics and in different parts of europe and australia and i'm honored to say now that easy daisies
32:27is a best seller in staples canada since 2013 and this is the adult version the one that i used
32:36for a
32:37year the my day for adults so in 2018 i had a stroke and i had seven months of stroke
32:46rehab and one of my
32:47last appointments with an occupational therapist she said to me elaine we need a tool to help you
32:52and she said have you heard of easy daisies so full circle completely humbled and just really great
32:58really grateful can you say hello hello nice to meet you nice to meet you nice to meet you there
33:05are so
33:06many milestones in our journey and if i can say i know it's like separate from business but it isn't
33:12and i'm gonna say i'm so proud of my kids and they are my greatest cheerleaders and my husband too
33:16and i couldn't do it without them and i did it because of them i have easy daisies and so
33:22can you
33:23all you have to say it
33:27it's just um incredible that something that we made off our kitchen table is is impacting lives
33:34i'm so honored to be a part of the dragon's den legacy coming up i've been looking for a good
33:43solution in the bedroom or sorry i've been married happily for many years
34:04i've been working on this for nine years and this is the time because i have everything ready
34:10now this montreal entrepreneur is hoping to expand his team with a dragon partner hello dragons my name
34:17is daniel shriak i'm from montreal quebec i'm the inventor of the shrinkable sofa and i'm here to ask for
34:24200 000 for 15 percent so we all know that in real estate the most important thing is location location
34:33location but sometimes to have the best location you need to sacrifice on space today in toronto the
34:41average condo size is 40 smaller than it was 30 years ago simply put the space is shrinking
34:49but the furniture didn't get the memo
34:53so i'm here in my living room i chose to have an armchair and i have more space to exercise
35:00to play with
35:01my kids but what happens if i want to invite a friend drew you want to join me for a
35:07hockey night
35:07okay drew i'm a big judge of innovation in furniture yes i know i'm going to show you how my
35:16design
35:16actually works expand one wow okay pretty cool daniel says the shrinkable sofa expands in four simple
35:24steps and requires just one person two it's also designed to be a self-storing unit so i have
35:33not bad i have the backrest also please take a seat uh arlene do you want to join us i'm
35:41feeling
35:41really lonely so you see me as a beer guy so i can actually expand this even more of course
35:50you can
35:50oh wow it gets bigger it's the gift that keeps on giving it's the transformers of sofa it's actually
35:59comfortable it is honestly i'm pretty impressed i'll take just like that we could have somebody else
36:05oh wow yeah that's pretty cool so i need my space back so in seconds in seconds i will have
36:13my space
36:13back that is very innovative very innovative and it looks good in all three positions daniel how long
36:21have you been doing this working on this yeah nine years what have you done all your life so
36:27i'm a senior mechanical engineer with a master's degree in design oh master functionality okay i
36:34started this because i saw how much space my sofa would take but how much space is wasted inside a
36:42sofa daniel the the biggest innovation of the sofa was the sofa bed yes right and you took this to
36:48a
36:48completely different level i agree the transformer table is something that i love i have one in my house
36:53and it expands and contracts the dining space for entertaining i've been looking for a good
36:58solution in the bedroom or sorry i've been married happily for many years i've been looking for
37:05solutions in the living room because the uh like you said the sofa takes up so much space so i
37:12love
37:12that you have something new that i see here that doesn't look like you're trying to hide something and
37:17how much have you spent in that nine years i spent about a hundred thousand to get the patents
37:21and what kind of patents do you have it's a utility patent wow for functionality not design
37:27so that's functionality yes that's impressive i have it granted in united states canada and i'm
37:33pending in europe okay daniel are you single
37:41those are some of the smartest words i've heard in a long time daniel you're the inventor do you have
37:46a
37:47team who does sales no i am pre-revenue this is the only piece in the world i'm the inventor
37:54and i
37:55reached this point alone but i'm looking to actually have some help for manufacturing as i i'm an outsider
38:02i had zero experience before starting this if somebody up here had that kind of connection i've
38:07always been looking for someone with that kind of experience or what's your cost on making this and
38:11what's your retail right now because this is new and to start the assembly line it's about 780 canadian
38:17dollars what do you think you would sell it for probably two thousand dollars do you want to be
38:22in the long game for this or do you want to be able to sell your invention with what you've
38:26created
38:26this is my baby this is not just this sofa this is the technology that goes into this isn't it
38:34probably
38:34best to just sell this idea get some money in your pocket get someone to take your next level and
38:39continue to do something else and get money every year for an invention you created i'm looking at
38:44every possibility and everywhere with this technology could go i'm looking at kids room you can go in
38:50waiting rooms you can go in conference rooms balconies so it could be licensing could be direct to
38:57customers could be retail could be anything you really have like every piece of this you've really
39:04thought it through with home this is the thing you're right there's an affordability crisis most
39:10people who talk about tiny home living yeah you're not living you're struggling to survive you're
39:15doing something from your experience as a mechanical engineer that has helped you do the things that
39:19i haven't been able to do seamlessly because i want people to function and thrive so we get it you
39:25love it you love it are you landing the plane is there an offer coming i think what would be
39:30more
39:30interesting to me i want to buy your company
39:48you're doing something from your experience as a mechanical engineer that has helped you
39:52do the things that i haven't been able to do seamlessly because i want people to function and
39:57thrive i want to buy your company i would like to give you your 200 000 but i'd like to
40:05give you a
40:05five percent royalty so you're buying the whole company my brand could get this in store and get a
40:11lot of attention with this product very very fast you'll get a five percent royalty on everything sold
40:15for the rest of time that's a great offer i will join drew if he'll have me as a partner
40:21and bring
40:22the d to c part of this business to life daniel i think it's really inventive i've been sitting
40:27in this chair for 11 years and it is really interesting the furniture space right now i can
40:33absolutely help you with the distribution i can help you with the marketing i can definitely help you
40:38with getting this made overseas but i want to be an equity partner i want you to get the upside
40:42of this
40:42too so she's really selling you on this i would offer you 200 000 for 17 percent come in i
40:52it's
40:53it's almost impossible to compete with what drew's offered you this is the guy that's going to take
40:57furniture to the masses so i'm uh i'm i think i'll i'll ball out we've seen like some great innovation
41:05for 20 years and this counts right up there among the top you're innovative beyond belief like to pour
41:11yourself into this for nine years and take something complex and make it look so simple
41:16is genius you've got incredible offers here and i'm out daniel i think this is uh canadian innovation
41:23at its finest so i'm going to compete with uh with drew i'm going to give you 500 000 okay
41:32to license you and everything that you know in that brain of yours i'm going to give you a five
41:36percent
41:37royalty on not only this but everything else that you produce in the future you just so you just
41:43upped you just up drew's deal 300k very interesting offers can i get a second for sure it's a big
41:51decision i really appreciate west offer but i really like drew and michelle's offer to actually help me
42:06build this is there any way that you could work together to actually help me with this you want
42:14to huddle let's huddle uh where do we do something right here i'm not good at this marketing negotiations
42:23it's really hard for me
42:29drum roll
42:32so so daniel five hundred thousand dollars and you get a five percent royalty not only on that product but
42:39everything else that come out of your brain that we're able to put to the market you get three of
42:43us
42:44on that deal okay let's make a deal got a deal all right all right congratulations let's bring it
42:52all in all three of us bring it in let's bring it in let's bring it in well done well
42:56done all right
42:58thank you very much well done congratulations incredible shrinking team
43:10next time on dragon stand
43:17so the suits um you know it's like our little fishing mullet you know like dressing for the job you
43:24want
43:24which is part fisherman and part business person right exactly when you come in here asking for money
43:30and the money is going to be to defend a lawsuit okay it's fine i'm making it very simple you
43:35may want to
43:36contact your lawyer when this is over
44:04you
44:06you
44:07you
44:10you
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