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00:03Tonight, on a special 20th anniversary celebration, our most successful past pictures return to the den.
00:11Big show. Amazing. I think we're officially arrived. I think so.
00:15But this time as guest dragons for two exclusive episodes.
00:19Oh my gosh. Our name in lights. Our names are in lights. That's pretty special.
00:24This is like the full circle moment sets in.
00:27Tara Bosch was only 22 when she entered the den, and within three years, she sold smart suites for $360
00:35million.
00:36This is actually a crazy view right here if you think about it.
00:39Mark LaFleur closed a dragon deal for his locally sourced farm-to-door subscription boxes and went on to sell
00:46the company for nearly $17 million.
00:48My makeup might get messed up right now.
00:51Barb Stegman was the first Atlantic Canadian to land a dragon deal for her social enterprise, The Seven Virtues.
00:58And now, her scents are sold globally.
01:01Wow. This is great. So comfortable.
01:04Jay Klein took The Pure Company from door-to-door sales to the fastest-growing gum business in North America.
01:11These look real enough for me. I'm not happy with this.
01:13Okay. I guess we're doing this.
01:16And Joanna Griffiths pitched leak-proof underwear and went on to build NYX into a billion-dollar brand.
01:23Now they're ready to invest their money in the next generation.
01:27A full circle moment 20 years in the making.
01:37First to face the full circle dragons.
01:40There we go, bro.
01:41Oh, wow.
01:42Don't even look.
01:43I know. It's sick.
01:44It's hard not to be, like, beaming when the first one comes out.
01:48We're gonna smash this.
01:50Brothers from Toronto hoping to land the expertise and dough to make their business rise.
01:56Hello, dragons. My name's Edin.
01:58And my name's Don.
01:58And we are from Toronto, Ontario. We're the two brothers that started Dream Crust Pizza.
02:03We're here today asking for $225,000 for 15% of our business.
02:10Our family's been in the pizza business for over 30 years, but we've always dreamt about a pizza that we
02:16could actually feel good about.
02:17So, three years ago, we took our shot at disrupting a billion-dollar market by creating the world's first healthy
02:24frozen pizza.
02:25With 68 grams of protein and 20 grams of net carbs, this pie was the first of its kind.
02:32Dragons, we're here building the future of pizza.
02:34Our only question, can we interest you in a slice of the pie?
02:38Oh, I can't wait to see how it tastes.
02:40Protein is my love language right now.
02:43Dream Crust's frozen pizza come in four flavors.
02:46Their top sellers are mozzarella dreams and a plant-based pepperoni paradise.
02:51That is really good.
02:53This is so good.
02:54This is unbelievable.
02:55This is a good pizza.
02:56I'm going to eat this whole thing.
02:57Delicious pizza.
02:58So, this is a high-protein, low-carb pizza that you really can't tell tastes any different than a normal
03:03pizza.
03:04I make pizza with my kids every single weekend.
03:07And so, to be able to sneak in protein is a big deal.
03:11Currently, they sell online only, direct to customers.
03:14Prices range, but a six-pizza bundle sells for around $100.
03:21I want to hear this story because to get pizza this crunchy that you can make at home, where does
03:26this pizza come from?
03:27The whole pizza business that we grew up surrounded by was a retail kosher pizza business, actually.
03:33Really?
03:33Eventually got into the family business, really tried to help my family and my father mainly transition from fresh to
03:40frozen.
03:40Got to tell you, I did a ton of research when I graduated from school, eventually figured out that there's
03:46a way to create a frozen pizza without preserving it.
03:49I keep kosher, and it's hard to find good kosher pizza.
03:53It's also just hard to find good pizza, but this checks both of those boxes.
03:57It's made from a unique, magical blend of ingredients designed to mimic what pizza would look like, smell like, feel
04:02like, and taste like.
04:03So we worked with food nutrition scientists to develop this crust, literally hundreds of formulas, and we use very high
04:09-quality fiber starches to make sure that you can actually digest it much easier.
04:13Fiber is my wheelhouse, and with so many products in CPG, like SmartSweets and yours, fiber is the key, right?
04:21It's the solution to addressing the carbs.
04:24Yes.
04:24The biggest battle that we faced was finding that sweet spot of tolerability.
04:28So what is the fiber content of this?
04:31So, in every pizza, there's 88 grams of fiber.
04:35Wow.
04:37Just anecdotally, can you eat the whole pizza and you're comfortable?
04:40Yes.
04:40And Tara, I can also happily taste test the whole pizza and get back to you and let you know.
04:44I don't know if you want to have the runs on this pitch, so.
04:47So, Ed, I've got a question about the bigger pie, which is the numbers, so let's understand your numbers.
04:53Our one-year anniversary is coming up.
04:54So far, by that point, we will have done just around the $430,000 mark.
05:01Okay, that's a good first year.
05:02And where's that revenue coming from?
05:04All of it is within the GTA, so we have not even scratched the surface yet of the rest of
05:09the country.
05:09And 93% is coming from direct-to-consumer.
05:14Interesting.
05:14So is e-commerce.
05:15E-commerce, yes.
05:16And what was your acquisition cost?
05:18Yeah, our acquisition costs right now, historically, have been anywhere between $30 to $75.
05:24Ups and downs all the time.
05:25What's the most you've spent on a month in marketing?
05:28I've sold over a billion dollars online.
05:30Yeah, yeah, yeah.
05:30So I've done a lot in that.
05:31Look, right now, I would say that that's one of the things that are holding us back from continuing to
05:35push forward.
05:36Is the scale?
05:36I think $25,000 was in.
05:39$25,000 in March.
05:41If only there was someone here who shipped frozen food on a subscription basis.
05:47I'll tell you guys about the magic ingredient in this business, and it's shipping.
05:51This is what's going to make or break your entire company.
05:54This one's expensive.
05:55There's a big jump in the type of business you're running when you were doing a GTA-based customer base
06:00compared to trying to go across Canada.
06:02So what is your shipping cost?
06:04So we're paying between $13 to $17.
06:06And that's including with the dry ice and everything?
06:08No, that's just the shipping cost.
06:10Not the danger is good charge.
06:11Yes, and the dry ice is the most expensive piece to it, 100%.
06:15You know, the reason I'm not hung up on the shipping is because you're going to lower your shipping costs
06:19over time by being more efficient and filling in density.
06:22At The Pure Company, we were not efficient when we started.
06:25We shipped one case of gum across the country.
06:28If a customer wants your product, you want to get it to them.
06:30If I go to a grocery store today, I can't find this product.
06:33There's a huge freezer section of pizza.
06:35This 100% belongs in that category.
06:38Well, let's ask that question, though.
06:40What is your guys' strategy?
06:42Are you wanting to scale via e-com or are you wanting to move into retail?
06:48We want to do both.
06:50My gut says we're starting the world's first healthy frozen pizza club.
06:55Whether you're buying it at a retail location, whether you're doing a subscription that's dropping it at your door, we
07:00just have a better way to pizza.
07:03I can tell you that just last week alone, I was this close to making a private label deal with
07:10another local grocery store chain.
07:13A private label deal?
07:15Private label deal.
07:15But then you're competing against yourself.
07:17But why not sell more pizzas?
07:19Because you're competing against yourself.
07:21Do you want to build a brand?
07:36I got offers for so many private label deals and it was really hard to say no to short-term
07:44cash.
07:44But I'm so glad that I did in the long run because we got to be the category creators and
07:49the category leaders.
07:50I think that's what you want.
07:53What Jay said, I believe to be true, is you guys have to navigate where the consumer is.
07:59And the reality is most consumers, when they want pizza, they're not thinking about buying it from e-commerce.
08:04So I think for that reason, I'm out.
08:08Eden, you know what?
08:09I'm not from the pizza business, but I am your customer.
08:12I see a vinyl in one of the freezer windows going, no, you're not dreaming.
08:16And I would just want to open it and find out what's happening.
08:19I can see so many marketing opportunities.
08:21Look, I'm not in the food business, so I can't bring anything to the table like some of my other
08:26dragons here.
08:27I'm really, really impressed by you.
08:29But for that reason, I'm out.
08:34We've been able to move fast, but we've got to go faster.
08:38And honestly, that's why I'm here.
08:40There's just so much knowledge and experience here.
08:43So, Eden and Don, I've got to tell you, like, it's the entrepreneur.
08:47You know, your passion, your product, the brand, they really stand out.
08:53So, Joanna and I have been talking quietly.
08:56Mark has been giving me the telepathy, the telepathy.
09:01But I'm a little unsettled with the valuation.
09:05I will just say this about the valuation.
09:07This is all within the GTA, 90% with D2C.
09:11We've just barely scratched the tip of the iceberg.
09:14So, here's my offer.
09:16You have the three of us at 30% for $225,000.
09:24The valuation that you guys are proposing here is almost cutting the existing valuation, you know, close to half.
09:32Would you guys be open to increase the amount of money that you're putting into the table?
09:36I think one of the best things that you guys will get with three of us is that you have
09:40access to capital later on.
09:41We'd love to make a counter.
09:4330% for $375,000, $125,000 a pop, bringing down that valuation to the $1.25,000.
09:51Look at what's in front of you.
09:53Frozen food delivery, successful exit.
09:56One of the most successful food brands created in the health food space in this country.
10:01One of the biggest e-commerce brands, category creator.
10:04This is an all-star lineup.
10:07I just wouldn't want to devalue the brand as is from where it is at this moment.
10:15So we're going to stick at the $375,000 for the $30,000.
10:17I think we're out at this point.
10:21I mean, we've already said what we bring to the table.
10:24You know, I know what happened when Michelle joined our team and it just absolutely opened the door for us.
10:31I think that your value combined outweighs whatever value that we think we might be losing with the valuation.
10:38We'd love to take the deal with all three of you.
10:40We're all right.
10:42Yeah.
10:42Nice.
10:43Very smart.
10:44We got a piece of art.
10:45Thank you very much.
10:47Congratulations.
10:48I'm so excited.
10:49You are amazing.
10:50Dude, thank you.
10:52I know what you guys have done so far is fantastic.
10:54All right.
10:55Yeah.
10:55Peace out.
10:57This guy's whispering.
10:58Take the deal.
10:59Take the deal.
10:59Yeah.
11:00You know what?
11:01They're the three dragons combined.
11:03No, they are amazing.
11:04Wow.
11:05You're not dreaming, Jay.
11:07Nope.
11:08Not dreaming.
11:09We got a piece of the pie.
11:11Being a part of a 20-year legacy that Dragon's Den has brought to Canada is amazing.
11:17It's a great honor and I know that we can continue the legacy and give them the insights and tidbits
11:22on a really, really tight level because it feels like I was just there.
11:28Jay Kline turned one simple idea into a worldwide sensation and now he's a full circle dragon.
11:35He entered the den in season nine with one clear mission, kick artificial sweeteners out of gum.
11:42I'd love to do that deal.
11:43All right.
11:44Let's do that deal.
11:45Yes.
11:46That passion and that million dollar smile sparked the rise of a global powerhouse.
11:52Oh my God.
11:53It's amazing.
11:54Yeah.
11:54I'm biased.
11:56Last year alone, Jay sold more than two billion pieces of gum across 50 plus countries, making Pure the fastest
12:03growing gum brand in North America.
12:06Jay's expanding his empire with bold new products and a brand new U.S. distribution center, fueling Pure's next big
12:13chapter.
12:14I see packages going all across the globe.
12:16Now this father of four is back in the den, ready to chew over some big deals of his own.
12:22Here I get to sit in the den as a sign to all entrepreneurs that if you work hard and
12:28dream big, you can make anything happen.
12:42She's back where it all began, our next full circle dragon, Barb Stegman.
12:48With a keen nose for business, she brought her idea to the den 15 years ago.
12:53It's a beautiful smell.
12:56Barb made it her mission to support war-torn communities by sourcing oils directly from local farmers, turning purpose into
13:04perfume.
13:05She was the first Atlantic Canadian to land a deal with a dragon, proving passion can turn a profit.
13:10The Seven Virtues brand became the first Canadian perfume in Sephora, now sold in more than 2,100 stores worldwide.
13:21She's a best-selling author, inspiring speaker, and home shopping icon.
13:26These oils are considered some of the best in the world.
13:29Barb is set to expand her perfume ateliers to more cities across North America.
13:34And now, this pitcher-turned-dragon is back in the den to find her next life-changing opportunity.
13:43Seven minutes on Dragon's Den changed my life, saved my company.
13:47And I want to do that for someone else.
13:50That's why I'm here.
13:54Next in the den.
13:55I have tried to come on the den for about 10 years now, driven through snowstorms.
14:02Every single time that I went to audition, I learned something.
14:06Finally, I'm strong enough to be here.
14:07This entrepreneur from Nova Scotia's East Shore is ready to make waves and take her natural products nationwide.
14:15Hello, dragons.
14:17My name is Leigh McFarlane.
14:19I'm founder and CEO of the Soap Company of Nova Scotia.
14:22And I'm here from Sherbrooke, asking for $400,000 in exchange for 20% of my company.
14:29When I was six, I started to have skin issues.
14:33And then by the time I was in my 40s, I started to have a real severe reaction to any
14:38synthetic scents.
14:39So I set about to try and find the products that I needed to feel safe in my skin, and
14:47I couldn't find them.
14:48That's when the Soap Company of Nova Scotia was born.
14:52Our primary mission, which is creating safe and allergy-friendly, allergy, sorry, allergen, my apologies.
15:01We've all been there.
15:03I know.
15:03Every single one of you have been there.
15:05Right there.
15:06Don't worry about it.
15:07Take your time.
15:07I have focused on my primary mission, which is to create products that are safe for people
15:13to use and that are free from allergy-reactive ingredients.
15:18And I would love to invite you to try some of the products.
15:23Let's see what we got in.
15:24This is all about.
15:25The Soap Company of Nova Scotia sells a variety of allergen-free products for personal home and pet care.
15:32Wow, you have a lot of products.
15:34Oh, I love the smell of this.
15:36It's gorgeous.
15:36Her products are available in both scented and unscented options, with patchouli as the most-purchased scent.
15:43Bars of soap retail for $9.99, while face and body cream are priced at $19.99.
15:51You just ate it all.
15:52Oh, what did you just do?
15:53I just ate the whole Acadian forest.
15:56Seriously.
15:58You're not supposed to eat it.
15:59Oh, my God.
16:00Are you okay?
16:00I know it's gluten-free, but you're not supposed to eat it.
16:03I'm good.
16:04I'm good.
16:05I think I have essential and then some.
16:08The hat fixer feels rich, but not greasy.
16:13There is so much in this one, kid.
16:16And tell us more about your SKUs.
16:19Why so many?
16:20How many SKUs do you have?
16:21298.
16:23298.
16:24All right.
16:25Where are you distributing and selling?
16:27We're at 86 Sobe stores throughout Atlanta, Canada.
16:30Also, last April, we launched into 26 Lawton stores.
16:35Tell us about your velocity in Sobeys.
16:38And I ask that because they don't give shelf space lightly.
16:42So I look at Sobeys as being on average per store, $300 wholesale per month.
16:48So $300 wholesale per month.
16:50On average.
16:51As a brand guy with Pure, what we want to make sure is that each spot that we have in
16:56the store, the product is turning faster and faster.
16:59Right.
16:59So we have a limited SKU assortment.
17:02I think Pure has 15 different items.
17:05And you're talking about hundreds.
17:07But the discipline of an entrepreneur is saying, I've got to make my best SKUs my big winners
17:13and then go from there.
17:16Just need your heroes.
17:17You're absolutely right.
17:18Like when I look at going outside of Atlantic Canada, I look at it being a lot tighter.
17:23Let's get into the numbers right now.
17:24What were your numbers last year?
17:25So last year, we did just over $501,000 in sales.
17:29So last year was the first year that we broke through after having quite a big disaster in
17:342021.
17:35We burnt down.
17:36So it was my home.
17:37It was the business.
17:38So I'm sorry.
17:39It's like physically burnt down.
17:40Physically burnt down.
17:41Yeah.
17:41But no, it's okay because we wouldn't look like we do right now.
17:44I love your attitude.
17:45That's a great, it's a great, it's a great attitude.
17:47I mean, what else are you going to do, right?
17:48You're sitting there watching it burn.
17:49A lot of people would have buckled.
17:50You rebuilt.
17:51Plus, it happened in November.
17:53So we lost $60,000 in sales.
17:56But you picked back up.
17:57You got back out there.
17:58We made soap within three weeks.
18:00You're incredible.
18:01So the resilience is such a maritime thing.
18:03Look at us, Atlantic Canadians.
18:04It is important.
18:04Nothing stops us.
18:05Bring it on.
18:06Yeah.
18:06What do you think you'll do this year?
18:08Without your help, $1 million.
18:10With your help, $1.5 million.
18:11What do you mean $1 million?
18:12$1 million?
18:13Where's the growth coming from?
18:14Last year, we were over $500.
18:16Yeah.
18:16This year, so far, our sales in the online store are up 57% over the same.
18:22But what's your total revenue?
18:23That's good growth.
18:24Total revenue?
18:24$100 and...
18:25Oh, gee.
18:27Isn't that terrible?
18:28No, I don't remember.
18:29Just so far.
18:30So brain's just gone empty.
18:31You guys did $500,000 last year.
18:33Yeah.
18:33And then this year, so far, what have you done this year total?
18:37That's where my brain just emptied out.
18:39Sorry.
18:41I just want to know, how are you telling consumers that you're different than what you're sitting
18:46next to on shelf?
18:47So at home in the Atlantic provinces, it's with our display.
18:52And then we put the soap lady story on the sides in French and English.
18:55But you might not get those displays everywhere you go.
18:55But that's not what we're going to have.
18:56Yeah.
18:57Exactly.
18:57So that's actually part of what is a challenge that I need to come up with a solution for.
19:03Are you willing to go to war to take this from a business that is starting to really
19:08get some strides in Atlantic Canada and go through the minefield and the battle that
19:14it will take to get this across Canada compared to the hundreds of other companies doing the
19:18exact same thing?
19:20The exact same thing.
19:20I love you said that.
19:21Yeah.
19:21Because they're not.
19:22Okay, so they're not.
19:23So what is the difference here?
19:24So what's our difference here?
19:25Give it to us.
19:26With the enthusiasm, I want to hear what this is.
19:28Yeah.
19:28I have not yet been able to find another company that does what we do.
19:33And what is it that you do?
19:35What is it that you do?
19:36What you do?
19:37What we do is we make products that are nut-free, gluten-free, no latex allergy reactive ingredients.
19:44We have got a single brand that provides you with all of the things that you need.
19:52So the next step is to really get out there and take this and the Soak Lady's story and
19:59start explaining about these products.
20:01It feels like you're getting emotional.
20:02Can you tell us why?
20:04I say I started this because I needed unscented products.
20:07Okay.
20:08And the people who need unscented products really need unscented products.
20:12I guess it matters.
20:14It's such a privilege.
20:15It is.
20:16It is.
20:17It's an honor, a privilege, and a mission, and a purpose, right?
20:20For me as an investor, it feels a little bit.
20:24It's a lot.
20:24It's a lot.
20:25It's scattered, and I think there's a few things for you to work on and figure out, but
20:29I wish you the best of luck.
20:30Thank you so much.
20:30And I'm going to be out.
20:31I think that you're going to struggle to try to find a way to differentiate when you start
20:35going outside of Canada.
20:36So I'm going to be out.
20:39You know, I think that the easy part is getting on shelves.
20:43That's right.
20:43Then you're on the shelf and you have to drive that velocity and keep the space.
21:15Mm-hmm.
21:17That's an excuse because we could plug you into the pure infrastructure across the country.
21:21Amazing.
21:21We can get you in front of all these retailers, but it's a little early.
21:24I'm going to be out for right now.
21:27Lee, I'm going to jump in on there, too, being your neighbor.
21:31Because we don't have the advantages of Toronto.
21:34Nope.
21:34We don't have that network in New York.
21:36So we've got to work twice as hard as anyone else.
21:41Focus on your heroes.
21:42Get some PR.
21:44Press release out to the community.
21:46I'm happy to help you with that.
21:47You're going to knock it out of the park.
21:49But today, I'm going to be out.
21:53I'm really grateful for your time and your wisdom.
21:56Enjoy this experience.
21:59Thank you so much.
22:02Here for this special Full Circle episode is Toronto's own Joanna Griffiths.
22:0711 years ago, she braved the den with a bold new category,
22:11an innovative line of leak-proof underwear and wire-free bras.
22:16NYX wears high-tech underwear are every woman's new secret weapon.
22:20Today, the NYX brand is a global powerhouse with more than a billion dollars in sales.
22:26I pinch myself almost every day.
22:28Joanna made history when she sold 80% of NYX for a staggering $410 million.
22:34But this trailblazer isn't done building.
22:38I love this color.
22:39It's gorgeous.
22:40She still leads NYX as president and continues to innovate by launching Minted, reinventing men's basics,
22:46and recently opened a flagship store in Soho, New York.
22:49Now she's back in the den as a dragon, ready to invest her hard-earned dollars into the next big
22:56success story.
22:57It feels so great to sit in this seat showing Canadians and female founders everywhere what is possible when you
23:04believe in yourself and you don't give up.
23:17Joining us for this special Full Circle episode, Cornwall, Ontario's Mark LaFleur.
23:24Eight years ago, he stepped into the den with True Local, a bold new way to deliver locally sourced frozen
23:29meat right to your door.
23:31Our plans come with no commitment and you can pause or skip anytime.
23:34A partnership with dragon Michelle Romano ultimately led to an almost $17 million dream exit.
23:42Are you prepared to close?
23:44We are prepared to close.
23:46Mark's kept busy racing cars, conquering epic ultramarathons, and writing a best-selling book, inspiring other founders.
23:54Thank you, gentlemen.
23:55Mr. Mark LaFleur.
23:57What is up, everybody?
23:59Now he leads DB8, building custom AI solutions to help small businesses grow.
24:06From competitor to entrepreneur, and now pitcher to dragon, Mark proves his drive, vision, and hustle never stop.
24:14I was always counted out, and somehow I'm sitting on here today trying to convince kids like myself to come
24:20and pitch.
24:32Next up, a Quebec founder hoping to prove there's money in mindfulness.
24:40Hello, dragons.
24:41My name is Mark Elvie LaFleur, and I'm the founder of InnerToon, the first AI built to reprogram your mind.
24:47I'm here today asking for $1 million for 8% equity in my business.
24:53Okay.
24:55Ten years ago, my life was falling apart.
24:58I had lost my business, lost my girlfriend, and I was working at a door-to-door job which I
25:04hated.
25:05And one night, I decided to record myself saying affirmation on an old recorder.
25:10I've listened to those while driving, sleeping, before going to work.
25:14And three months later, my life completely changed.
25:18That's why we created InnerToon, an app that can help you rewire your mind and feel better.
25:25So, dragons, who wants to see my app?
25:27Yes, please.
25:28Let's go.
25:29Power of affirmation.
25:30I'm still shaking right now.
25:32Is your name Mark LaFleur?
25:33Yep.
25:34My name is Mark LaFleur.
25:35And you're building an AI.
25:36Okay.
25:37Smart.
25:37Isn't this a simulation right now?
25:40Let's see what we got.
25:41Okay.
25:42Got to get in the meditative state here.
25:43Yeah, yeah, yeah.
25:45You can just sit.
25:46I'm just laying down.
25:47I think you're ready for a nap.
25:50Our AI is trained with over 40,000 affirmations across 700 topics.
25:54So, whether you have a fear of spider, whether you want to build self-confidence, you can just prompt our
26:00AI and then say exactly what you need.
26:03So, Tara, what will be something that you would like to improve in your life today?
26:09I work on my self-love every day.
26:13So, let's do self-love.
26:14Self-love.
26:15Self-love.
26:16And Jay, I do think that pushing yourself harder, challenging yourself to do better things.
26:22Pushing myself harder.
26:24And Barb.
26:25I want to stop trying to jump into people's lives.
26:29Control.
26:29Control.
26:30Yes, it's control.
26:32I don't know how this one is going to come up.
26:35It smells like a therapy session.
26:36I love it.
26:38So, the AI just delivered a bunch of affirmations that can help you feel better.
26:43In the app, users can change which voice reads the affirmations as well as select the music style.
26:49Now, the only thing we need to do is click play.
26:53I consistently push myself to become the best I can become.
26:59I push limits and achieve.
27:03The app is free to use with basic features, while the premium subscription costs $99 per year
27:10and includes additional voice and music options.
27:13You can also record your voice.
27:14I recorded a special playlist just for you.
27:17I'm sure you'll like it.
27:19I am rich, wise, and a dragon.
27:23Boy.
27:23A dragon?
27:24A dragon?
27:25Yes!
27:26And it happens.
27:26Look, we're here.
27:27Flattery will get you everywhere.
27:30Sometimes, just a little extra push can change your whole reality.
27:35Let's do it.
27:37Soul feels full.
27:39I am such a big mindset person.
27:42Actually, in this book, the first thing I wrote down was, you got this.
27:46Aww.
27:47But I've never heard affirmations combined with music before.
27:51Is there a benefit to the two?
27:53Of course, when there's a melody, it's a different part of your brain.
27:58But I do got to cut to the chase on one thing.
28:01So, in November of 2022, ChatGPT came out.
28:05They released the ability for anybody to build AI products.
28:08We are seeing high-flying valuations on products that don't have any revenue.
28:13I went through the same thing.
28:14I invested a ton of money trying to create an AI startup, and then the most recent feature
28:18set just made it completely null and irrelevant, and we had to walk away.
28:23So, what are your current revenues at right now?
28:25This year, so far, we did $1.25 million.
28:29Gotcha.
28:30Good for you.
28:30Really good.
28:31That's great.
28:31Yeah.
28:32Why are you guys raising money if you're generating this much?
28:35Are you guys profitable?
28:36Right now, we're reinvesting everything into the business.
28:39So, we're bootstrapping.
28:41We're improving the product.
28:42We've rebuilt InnerToon over 2,000 times since the beginning.
28:45It's easy to launch an app.
28:47Finding a product market fit is a completely different thing.
28:52It's clear that you've come a long way in such a short amount of time, and the why behind
28:57what you're building is so emotional and so powerful.
29:00I remember with my company, SmartSuites, I was just about to launch, and then my manufacturer
29:04stole my recipe, and it just felt like, you know, where do I go from here?
29:09So, what's been the hardest day for you?
29:11Well, in 2023, we hit rock bottom.
29:15We looked at our bank account.
29:17It was written zero on it.
29:19And I'm just looking at my business partner, and we're like, what could we do?
29:24But we were chatting with this guy, which is the person in charge of our media.
29:27And he was having a page with over 700,000 followers on it.
29:33The page was called Mindset Vibration.
29:35It was so aligned.
29:37And then we've been able to start making money off promoting our app inside his page.
29:44And it didn't took long that with our strategy, InnerToon has 1.2 million followers right now.
29:49Do you work with 1.2 million followers on Instagram or TikTok?
29:53On Instagram.
29:54On Instagram.
29:55In total, we have 6.7 million followers.
29:59Mark, we have a saying at The Pure Company that we convert curiosity to consumption.
30:04And I also think as an entrepreneur, what you've done is when you found rock bottom, you battled through that.
30:10You learn more from your failures.
30:12You actually think very clear when you're at a breaking point.
30:15But AI just isn't in my space.
30:17I'm going to be out for today.
30:20Mark, I know that you went through a really hard time and you flipped that, not just for your own
30:28life, but for the good of others.
30:30But I'm an old school Marcus Aurelius meditations book and I'm not an AI affirmation person.
30:37For that reason, I'm out.
30:41If I didn't just take such a huge loss on an AI company that I spent two years building, I
30:47would be really interested.
30:49But for that reason, I'm out.
30:53I think we're on a massive opportunity right now.
30:56We sold over 40,000 subscriptions.
30:59If we have just a little push, we're going to be able to fly even more.
31:03Mark, I know the power of affirmations.
31:05I know the role that they've played in my life in helping me to build my own self-confidence.
31:11I don't have the technical expertise here, but I have the passion for what you're creating in the world.
31:18My friend Mark here does have the technical expertise and we would like to offer you a million dollars for
31:2615% of your company.
31:33What are you going to do, Mark?
31:37I'd like to ask you if you can do one million dollars for 10%.
31:45It's rich.
31:47You know, like I stood right there, right?
31:50And we were building True Local.
31:51We were doing $290,000 at the time.
31:53And any founder knows that speed is everything.
31:55So getting the deal with Michelle gave us a competitive advantage to move faster.
32:00Don't underestimate the dragon effect.
32:04Mark, I don't know.
32:05I have two exits.
32:06What are those exits?
32:07Really quickly.
32:08Yeah.
32:09The first one was five years ago.
32:11It was $300,000.
32:13Mark, I want to tell you, there's no better bet an entrepreneur can take than on themselves.
32:18Yeah.
32:19And you have a great deal with two dragons, and it's a tough deal.
32:23But if you believe in yourself, you're taking a $1 million bet, and you're going to tell them no.
32:29And you know what, Mark?
32:31We learned something new about you, that you have been through the journey and exited, and there's power to that.
32:37That's made Mark and I comfortable going up to $1 million for 12%, and that is our final offer.
32:49We need a yes or no from you.
33:00Yes.
33:01Okay.
33:02Let's do it.
33:03Yay.
33:04Awesome.
33:06Dude, great job.
33:08Amazing.
33:10Congratulations.
33:12Yay.
33:12That's a really big deal.
33:13Let's blow this up.
33:14Congratulations.
33:15Now what's the affirmation that that brings to mind?
33:18That's right.
33:18Winning.
33:23People are drawn to the show because it's hope.
33:25Like, we didn't have a whole lot growing up.
33:27My parents gave me everything they could, and I would watch Dragon's Den all the time because I was seeing
33:32how, like, wow, I can be up there.
33:34And then to be able to come through now with the confidence of being like, wow, like, throughout eight years,
33:38that's really all it was.
33:39Eight years, you can go from pitching on the den to actually sitting in the chair and being able to
33:43help other entrepreneurs come through.
33:55Our next full circle dragon hails from Vancouver, Tara Bosch.
34:00She was only 22 when she braved the den with her sweet concept to kick sugar and upend the candy
34:07aisle.
34:07Smart Sweets was a kitchen experiment turned gobsmacking success.
34:12Someone's going to win the race of naturally addressing sugar and confectionery.
34:15And Smart Sweets can be that player.
34:18Just three years after her den debut, Tara sold Smart Sweets for a jaw-dropping $360 million.
34:26Since then, she's launched Bold Beginnings, a mentorship program for female founders under 40.
34:33Oh, my God.
34:35And now, at 31 years young, she's dipping into a new startup, Snackish, conquering another grocery category.
34:44Here in her full circle moment, this innovator returns to the den to invest in the next generation and prove
34:52sweet dreams can come true.
34:54For anyone who's ever asked themselves the question, why me?
34:58I'm here to say, why not you?
35:07And finally...
35:09I'm happy to be here.
35:10Whatever happened, I've made it.
35:14And I want to hope my story can inspire others.
35:22This Quebec salsa dancer turned entrepreneur is putting a new rhythm in your morning routine.
35:29Hello, Dragons.
35:30My name is Kamlavi Dodro from Gatchino, Quebec, founder and CEO of Dodi-V.
35:36Today, I'm taking $150,000 for 10% of my business.
35:40Dragons, we all know coffee is a deeply emotional habit.
35:46Did you know that 8% of people are saying they'd rather give up sex than coffee?
35:50People love coffee, but sometimes it does not always love them back.
35:55This is where Dodi-V comes in.
35:57Through the power of functional mushrooms, our blends are designed to support focus, immunity, gut health, without the stomach upset,
36:08jitters, and crush.
36:09Dragons, who wants to join the mushroom revolution with this fungi?
36:14Let's do it.
36:16Dodi-V comes in two distinct blends, one crafted for immunity and focus, the other for vitality and sustained energy.
36:24It blends very nice.
36:25Yeah, it actually smells nice too.
36:26It smells like coffee.
36:28They're available online and in specialty health and wellness stores, priced at about $50 for a 45-serving bag.
36:37I would not know that this has mushrooms in it.
36:39I taste the mushrooms.
36:40I taste something different.
36:42I think for me, like, it's more of an acquired taste.
36:46I will say one thing, the mushroom movement is definitely gaining in popularity, though.
36:50So I personally take Lion's Mane as a powder, and it's disgusting.
36:54So for me, this is something.
36:56How do we make it fun for people not to hate mushrooms?
36:58That's what we're doing.
36:59And I think you're not going for the hardcore coffee lover.
37:03You're going for the person who likes coffee but doesn't want the jitters and wants an alternative.
37:09Alternative.
37:10Healthy alternative.
37:11But what do your numbers say?
37:14So three years revenue, 22, we did $91,000.
37:19The year after, $165,000.
37:22Last year, we did $304,000.
37:25Of the $300,000, were you profitable?
37:27Last year, we, yeah, $22,000.
37:31I'd like to hear a little bit more about your competitive journey because coffee is a very competitive space.
37:36It's not easy to blend a mushroom with other ingredients.
37:40It doesn't taste good.
37:41So we did $14,000 R&D, and that's what we landed.
37:44We've done 13 trade shows every single year.
37:48We hired a contract brand ambassador.
37:50They blow it.
37:51They wear a mushroom hat.
37:52Oh, yeah.
37:53I would like the hat.
37:54Yeah.
37:55Like when we go to trade show, we can keep up.
37:57Tasting is believing.
37:58I also think it's the brand ambassador.
38:00I think it's you.
38:01I remember standing where you were not that long ago and feeling the exact same passion that I feel from
38:09you.
38:09What got you started on this journey?
38:12It's been a journey.
38:14I am originally from Togo, West Africa.
38:16So I grew up in a small village raised by my mom.
38:21I worked in a farm.
38:23And one day, my grandmother leaves me a land.
38:26And I decided to harvest the land and plant cotton, which I sold on the market.
38:32That was my first entrepreneur journey.
38:34How old were you?
38:34Maybe 10.
38:35I came to Canada at the age of 15 with my younger sister.
38:39I didn't know the culture.
38:40I didn't speak English.
38:41I was discriminated.
38:42Wow.
38:43I studied culinary art and hotel and restaurant management.
38:47And my passion for dance led me to meet my spouse.
38:50That's how it started when she was having a health issue and I wanted the help.
38:53We worked with the best scientists and herbalists to put the most unique recipe on the market.
38:58So that's my story.
39:00I love this.
39:01The name means doji.
39:03Yeah, what's your name mean?
39:03Doji means perseverance and patience.
39:05My name is your language.
39:06That's you.
39:07That is you.
39:08And the V stands for take a small step towards greatness.
39:12And the HIPO represents my culture.
39:14Beautiful.
39:15You're so lucky right now because this is the era of people wanting to see behind the scenes of the
39:21business.
39:21You've been an entrepreneur since you were 10 years old.
39:24Your story is incredible.
39:25I don't know if you need a strategy.
39:27I just think you need you.
39:27You should be getting this product into the hands of every possible UGC content creator on TikTok.
39:33That's why we're here for you.
39:35We need a bootstrapping.
39:37What's your cost per acquisition right now?
39:38So we don't have that because we don't do online marketing.
39:41This is the bootstrapping.
39:43I'm the only person in the business.
39:45So your packaging is outstanding.
39:48If I didn't know, I mean, when you said you did $300,000 in sales, this to me looks like
39:52a multi-million dollar company.
39:54But help me wrap my head around your big valuation.
39:57The valuation is that I'm going to take you back.
39:59So we incorporated the business in 2017.
40:02In 2020, COVID hit.
40:04We lost everything.
40:05We lost our co-packer.
40:07You wake up the next morning, you don't have a business.
40:09It's tough.
40:10So in 2021, to summarize, we rebranded completely.
40:15We were out of stock about one month and couldn't sleep, but kept pushing, kept pushing.
40:21I grew up poor.
40:23I've always known that I want to be part of something big.
40:26It's been a hard, you know, a hard journey.
40:28And I want to inspire the next generation that no matter where you come from, we can make it.
40:35You are so inspiring.
40:37And I think the biggest risk that you can take is betting on yourself.
40:40And you've shown that time and time again.
40:43And I would be honored to support you in bringing your vision to life.
40:47Thank you, Tara.
40:48My offer is $150,000 for 20%.
40:56I'm crying.
40:57I promise I will not cry, but...
40:59You're doing great.
41:00You're doing amazing.
41:01Do you want to sit?
41:02Do you want some coffee?
41:05Oh my God.
41:06I think you have an incredible brand.
41:09And I don't think I want to compete with that offer.
41:13But I will gladly trade you consulting time if you give me salsa lessons.
41:17I love it.
41:19So, so dear.
41:22Listen, you know, this is obviously a full circle moment for a lot of people here.
41:25You say you want to inspire people.
41:27I truly also agree with Jay.
41:29I think that you have an amazing offer here from Tara.
41:32Um, and I think that I will be a big fan and a big user, but I'm going to sit
41:38out on this one.
41:40I'm, I'm so inspired by you.
41:41I think you've had such an incredible journey and, um, really appreciate you showing up as your full self today.
41:48Tara, are you feeling greedy or you want to share?
41:51I would love to do it with you.
41:53Yeah.
41:53Yeah.
41:53So I would split with Tara.
41:56150K for 20%.
41:5810 and 10.
41:5910 and 10.
42:00Oof.
42:01You are sitting in front of a billion dollars in value willing to do a deal with you.
42:05So, okay.
42:06And I might as well just add in here.
42:08I think you've got the best deal here.
42:11Seven minutes on CBC changed my life.
42:12And I can tell you, looking at these two women and their passion and what they've done successfully, Joana and
42:17Tara are your people.
42:24I accept your offer.
42:25Yay!
42:27Thank you so much.
42:28Oh my gosh.
42:29Amazing.
42:30Did you get a hug?
42:31Yes.
42:31Did you just assault her now?
42:33Oh my gosh.
42:34I have a hug.
42:35Yay.
42:36Now we have to do a Southside dance there.
42:38So, we're going to go forward and back.
42:41Go forward.
42:42And back.
42:43Yay.
42:44Oh yeah.
42:46You're going to have to pick those up.
42:48Ah!
42:53I got to do it.
42:55Really?
42:56She's going in.
42:56No way.
42:57Yes, we have.
43:02Next time on Dragon Stand, our full circle dragons return for a second and final episode.
43:09Let's go.
43:09Let's go.
43:10Packed with more innovation.
43:12Can't wait to try at least $20 million pancakes.
43:15I scoot my chair over here.
43:17I'm interrupting something.
43:18Homegrown success stories.
43:19I've never actually been this close to a cow.
43:22We truly believe we're sitting on a gold mine.
43:25And life-changing deals.
43:26I thought I was going to get through this without crying today, but I do really connect with you.
43:33Suspense is killing me.
43:34I've never been so invested emotionally in a deal.
43:38Don't miss it.
44:03I've never been so invested emotionally in a deal.
44:04I've never been so
44:09You
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