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00:02the doors to the den are open for business the place where fortunes are made and futures are
00:09forged but this time the game has changed a fresh wave of fierce investors are out to shake things
00:18up and steal the deals joining them tonight i'm jenny meek i'm a serial entrepreneur i'm currently
00:27the co-founder and ceo of a five beauty jenna welcome back to the den no thank you for having
00:33me back i'm excited for today when i look in the eyes of an entrepreneur there is literally one
00:37thing i'm looking for it's their belief that their idea is going to succeed i can see in people's
00:43eyes if they're lying to me i know exactly what i can bring to a business so if there's a
00:47fight for
00:47an investment i will be absolutely fighting for it i love disagreeing with the dragons i really really
00:52do i am not scared of any of the dragons if anything they should be scared of me
01:07my name is laura and i'm from northern ireland my business is all about oats
01:15instant oats ready made oats yeah but they're kind of they exist
01:26so the dragons i'm looking for investment from would be stephen bartlett he would be really
01:32helpful with building that community brand which is what we aim to do at oatco
01:50hello dragons my name's laura and i'm the founder of oatco superfuel today i'm here to seek an
01:57investment of 50 000 pounds in return for a five percent share of my business leading an active
02:04lifestyle and being a busy mum i found myself seeking nutritious convenient solutions and i was
02:10disappointed as to what was available on shelves this sparked the passion of me to create oatco
02:15superfuel currently in our range we have our just add milk overnight oat pouches our ready-to-eat
02:22overnight oats and our small bites with big energy super bites and at oko we aim to fuel the everyday
02:29whether it's a school run a busy day in the office or a gym workout we are currently delivering to
02:36a
02:36strong community of customers through our shopify website nationwide as well as being stocked in over
02:41150 retail stores and in the past seven months we've did 200k in sales with a 60 gross margin and
02:4928 000 in net profit currently the market is more protein focused but we aim to disrupt the food to
02:57go
02:57market with natural energy that oats can provide and we've got balls excuse the pun now i've got some
03:06samples of our just add milk pouches for you to try and i'd love for you to try them
03:13a range of oat-based food products is the offering from laura murphy that's what's that one
03:19that's a vanilla chocolate chip yeah thank you she's asking for 50 000 pounds in exchange for a five
03:27percent stake in her business how much protein is in your original so we're around six grams so it's just
03:33the natural energy however the other three we've added plant-based protein laura claims her oats stand
03:41out from the crowd you will notice under your chairs as well there's also some other products
03:46but in a sector packed with healthy promises peter jones is keen to know what makes this offering
03:53more than just a mouthful of marketing
04:00laura hi hello um so it's basically oats with bits in it to give you a super fuel is it
04:09so is it
04:10was it just protein or no so give me the so contents we aim to be different so how we
04:18feel at the moment
04:19is everything is protein lead however we want to focus on the natural energy from the oats
04:25okay and in what way is this different is anybody else doing this
04:30so i suppose it's difficult to say because we have three different products
04:34so there is three different competitors depending on which one we look at in particular
04:39in terms of the pouch product our point of difference is you actually prepare that in the pouch
04:45you can reseal take it with you and so that is the usp of the pouch product alone okay
04:54laura yeah your balls are absolutely banging thank you um when something tastes that good i worry that
05:02it's not good for my health yeah and i was looking at the nutritional information on on this packet but
05:09also on the on the balls as well are those the best balls you've ever had that is so good
05:14yeah it's really good thank you so much that's got to be like you say that's such a good point
05:19it's
05:19got to be bad for you yeah well some of the flavors are slightly more on the indulgent side
05:25but we're mindful of that and we're trying to appeal to that target consumer that still wants
05:30us to taste good but is mindful of their health on the balls it says there's uh 20 grams of
05:37sugar per
05:37100 grams yeah it is something we're definitely mindful about and we've had conversations recently
05:42on how we can improve and in our new product development we are taking that on board and
05:48100 trying to make them as well-rounded as possible okay laura hi gotta tell you um yes they're high
05:57sugar but they're delicious thank you so much um so how much are they selling for um the potter
06:04holding retails for 3.79 okay um and i've seen the overnight oats in tubs but i don't think i've
06:12seen
06:12the this on top is that yours that's our usp yeah okay so that makes it quite unique and yeah
06:18but if i
06:18was buying a sort of or standard overnight oat yeah what would that cost me um they would retail
06:25probably around the 2.99 three pound mark okay and what about your retailers you've got 150 stores
06:31who are they so we're mainly direct to store and it's a mix of spars centras apple greens is a
06:38big
06:38customer to us all based in northern ireland and this week we're actually launching into tesco as well
06:44our first tesco northern ireland or tesco northern ireland okay and do you have any um stores in the rest
06:50of
06:50the uk um not as of yet okay thank you laura hi hello um i'm probably your customer here and
07:01i think
07:01that's what makes me quite different to the rest of dragons because i'm not super educated around kind
07:06of what i need to put into my body like i look at these packaging the first thing i look
07:10at is calories
07:11because that's the world i've been brought up in i don't understand the rest so as a customer
07:15explain to me why i need your product so it's something substantial that you can eat and i eat
07:21it every morning and being a busy mom as well like it it keeps me going throughout the day okay
07:28and then
07:28what is it you're looking for in a dragon to help with this business yeah so um like i want
07:34okko to be
07:35a household name in many regions particularly in the uk and ireland and i think with the dragon on board
07:41it gives me that platform to help achieve that okay i'm going to tell you where i am
07:48i mean oats are a super food yeah they're incredibly good for your heart yeah um you know
07:55control your cholesterol levels yeah so so i think the oat story is very very strong and i tell you
08:02what you've done really well this is like one of the most hotly contested markets if you go in
08:07anywhere there are loads of blinking protein balls and energy balls so to actually stand out in that
08:13and that is absolutely delicious too delicious scarily delicious exactly in fact i i meant to have just
08:22one little nibble i've been back in three times um so um so so much to like about this business
08:32but there's a problem and it's the sugar okay um i wouldn't eat that because of the high content
08:43yeah now i know i'm purist but the direction of travel is is against sugar so i'm really sorry i
08:52won't
08:52be investing no problem and i am sorry i won't be investing but i'm out
09:01laura you are fantastic um but this is just a market that i'm i'm just not happy to invest in
09:09at the moment i think it's hyper competitive and um you're going to struggle with this at the moment
09:15so i'm going to say that i'm out
09:20laura i'll tell you where i'm at i think you're amazing you're so investable there's a lot of work
09:27to do with actually defining the purpose and that kind of vision like i know you want to own the
09:32natural
09:32energy market but that's not a brand purpose that's what just that's i'm like why why like i still need
09:38to understand why what is natural energy why do i need it and i think that needs to be laser
09:42focused
09:43and i feel like i could offer so much help in terms of that in terms of the branding in
09:48terms
09:48of the lifestyle in terms of the persona i don't know the food market and that's just me being
09:54completely transparent at all
10:00so i am going to make you an offer but it's a bit of a wild card because there isn't
10:06any other
10:06offers yet you asked for 50 000 pounds for five percent i'll offer you half of the money for seven
10:15and a half percent but i'd want to share with someone else that actually understands the food market
10:20because i know what i can bring it's fantastic yeah and you're a fantastic entrepreneur once you can get
10:25the branding spot on we can make it a cool on trend product we can get the persona perfect
10:29but i want that help of the other side of the retail side as well perfect thank you very much
10:39laura
10:42i know retail
10:43yeah
10:44yeah
10:45um
10:48and i do like what you presented today
10:52um
10:54so i will also offer you half the money
10:56that's 25 000 for seven and a half percent if jenna wants to share
11:02thank you very much
11:07um
11:08laura i am
11:09i am
11:11such a big fan of you
11:13thank you
11:14um
11:15i have uh
11:16quite a lot of experience now in
11:18this industry
11:19um
11:19have a brand that came into the den that's making tens of millions now in just a couple of years
11:23from retail
11:24and actually one of the most useful things i could do
11:27is to sit you in a room with one of the investments i've made
11:33who exploded in the uk market
11:36and really understand how they did that
11:38yes
11:40um so i'm going to make you an offer because i think you're fantastic
11:45i'll offer you all of the money for um
11:46um
11:5517.5 percent of the business
12:00thank you very much
12:05so thank you so much firstly for all of the offers that it means a lot
12:09um so i suppose just stephen i did have a cap of 15 percent in my head and so i
12:17suppose if you had the money paid back within sort of a two-year period would you drop to 10
12:25percent
12:27to 10 percent
12:32considering i came in for five percent
12:38um i i um i'm not the biggest fan in the world of the deals that
12:42that drop because it's almost like punishment for success in a weird way
12:46i suppose 15 percent is what i said was was my cap and that's what i'm struggling with
12:51okay
12:56i'll do 15 percent
12:57you do 15 i'll do 15 percent
13:00well i'd love to accept your office
13:02let's do it thank you
13:03thank you so much
13:04thank you so much
13:05well done thank you
13:07and we're just the same as well
13:08i know
13:10thank you so much i can't wait to work with you
13:12thank you see you soon bye
13:14victory for laura
13:15after tough negotiations
13:17she secures stephen bartlett's backing
13:21her oat empire is officially expanding
13:28breathe i'm still catching my breath
13:33amazing i couldn't have asked for it to go better really i'm delighted
13:37that's a great entrepreneur to invest in yeah she was so good so good so excellent and it is
13:43serendipitous you did you did look the same
13:46that's a great job
14:03that's a great job
14:06that's a great job
14:16DIY? OK. Definitely DIY. Definitely DIY.
14:20I could deal with a few more DIY things.
14:22What have you got, Peter? I've got a toolkit.
14:26You've got a toolkit? Yeah.
14:27What's the last DIY you did, Peter?
14:30I think I've hung her picture up.
14:34I believe Deborah would show the most interest in her product.
14:38Just in the sector that it's in,
14:40I feel like it would perk her interest the most.
14:42So I'm definitely confident and ready to go.
14:53Hi, Dragons.
14:54My name's John O'Donnell and I'm joined today with my son, Jamie,
14:58and we form part of the family team who created Screwcaddy.
15:04Today we are looking for a ÂŁ50,000 investment
15:07for a 40% stake in our business.
15:11In 2020 during lockdown, me and my mum were doing various DIY projects
15:15in and around our home.
15:17One of these projects in particular involved screwing a bracket to a fence
15:21for a hanging flower basket.
15:23Through this we had many deflected screws and it caused several near-miss injuries.
15:28So we went out to see if there was a product on the market that could solve our issue.
15:32But we struggled to find anything to solve our solution.
15:36So, as a family, we'd go at trying to create up a product of our own.
15:40So, Dragons, the traditional method for uncertain screws is you secure the screw with your fingers
15:46while also trying to handle a power tool, which is particularly difficult and can cause possible injuries.
15:55However, if you look at our product, you can see that my fingers are away from the screw.
16:00And it allows the DIYer to focus purely on the power drill.
16:07As the screw head comes down, it makes contact with the angled top side of the Screwcaddy.
16:12Screwcaddy pops off and the job's complete.
16:20We were introduced to a third party who helped us a lot during the development stages of the product
16:25and we now have a manufacturing site here in the UK.
16:30Screwcaddy is patent pending and we are looking for that dragon or Dragons
16:34who can ultimately put a Screwcaddy in every DIYer's toolbox.
16:40If you would like to come up, the wood we have actually brought in is very, very hard.
16:45So, just to make you aware, you need to give it some welly to get in.
16:52A lockdown invention that takes the pain out of drilling is the offering from John and Jamie O'Donnell.
17:00So, your fingers go to the side.
17:02Yeah, no, I've got that. I'm just doing that while I...
17:04OK. All the way down.
17:07The inventive father and son duo are seeking an investment of ÂŁ50,000 in return for a 40% share
17:15in their business.
17:17Yeah, and then pull it off. OK. That's good.
17:23The product gets a nod of approval from the DIY doyen of the den, Deborah Meaden.
17:30But it's Tuukka Suleiman who's the first to drill down into the potential of the business.
17:38John and Jamie, just so you know, I've got no investments in DIY.
17:45This could be my first.
17:48So, have you shown this to any major retailers?
17:53Yes. So, the very first people we contacted was GML, and they asked for costs and samples for up to
18:01ÂŁ750,000.
18:02We have been to B&Q, and they've had samples, so we have had a lot of interest, but it's
18:11converting the interest to sales.
18:13So...
18:14It's been a blocker.
18:15Have you turned over anything?
18:19ÂŁ80.
18:20We saw...
18:21ÂŁ80?
18:22Yes.
18:22Right.
18:23So, ÂŁ80 turnover, but I can see you want to give away 40% of the business?
18:29Yes.
18:31So, you really want to entice a dragon?
18:34Yes.
18:36Jamie, John.
18:38When I was watching Deborah have a go at it, it still looked quite dangerous to me.
18:45I think because this screw, when put in the biggest hole here, is still really about five millimetres away from
18:50your finger still,
18:51which means it could still, you know, hit the edge of the plastic and then hit your finger.
18:57So, I just wanted to see if you had a response on that point.
19:00Yeah.
19:01I take your point about the apertures at the side of screw caddy.
19:08You are a couple of millimetres away from your...
19:09Do you agree with that? Because I don't.
19:12Sorry?
19:13Do you agree with that? I mean, it's your product and I'm about to defend it for you.
19:17Is there another answer to that?
19:21He agrees with it.
19:24So, the danger is the wobble.
19:27Mm-hmm.
19:28This stops the wobble.
19:30OK.
19:31So, it's not the proximity to your thumb.
19:34It's the fact that if the screw head wobbles to one side...
19:38Yeah.
19:38..then you're in danger. That's holding it solid.
19:42Is that what you meant to say?
19:43Yes, sorry.
19:44That's what he meant to say.
19:47My other point was around the combination of metal and plastic.
19:52So, what I did is I took the screw in and out over and over again.
19:56Yeah.
19:56Repeatedly like this.
19:57Yeah.
19:57And the plastic has worn off, so now it basically doesn't fit anymore.
20:02So, what we've...
20:03The third party who done the development work with us, they tried to destroy it with the roughest screws they
20:10could find.
20:11They worked out.
20:12So, if you were using it the same aperture, the same size, you'd be talking and you'd get about 35
20:17screws.
20:19So, one is...
20:1935 screws?
20:20Yeah.
20:22And how much does this cost?
20:24499.
20:25OK.
20:26The equation is not great there, being able to do 30 screws before it breaks.
20:30And actually, I think the consumer will have a bigger expectation of longevity from the product.
20:37While the question was about the percentage, what's the current shareholding between you guys?
20:43There's three shareholders. It's me, my wife and Jamie.
20:46And it's just a third share each.
20:48OK.
20:49Which means that the Dragon would be the major shareholder.
20:51Yeah, we would change our structure, obviously, to make it a 60-40 spot.
20:57Keep it simple.
21:00Guys, can I ask you, what's your patentable step?
21:04What's your claim?
21:06Erm, it's the way it holds the screw and it's the way it releases the screw.
21:09It's the angled edge and it's the transfer of that vertical force, the horizontal force that forces the screw caddy
21:16off.
21:17OK, so it is quite specific as to why this works and what you're telling me is it wouldn't work
21:23if you didn't have those angles right.
21:25Yes.
21:25You've obviously been through lots of iterations.
21:28Yeah.
21:28OK, thank you.
21:32John, Jamie.
21:34Hi.
21:34Hi.
21:36I think it looks really good.
21:38I think it does what you said it was supposed to do on the tin.
21:43But I think it's really expensive at five pounds.
21:46You know, you can get a pack of screws for five quid and you're selling your product that holds the
21:51screws for the same price.
21:52So I just wonder whether this becomes like a really considered purchase, so I don't really want to buy and
21:58spend five quid on it.
22:00Or is this something that, frankly, what you should really do is perhaps license this to the people that put
22:07these screw packs together.
22:09And this could be a product that you see in the pack as a giveaway.
22:13Yeah, adding it on to buying a bag of screws was something that we considered right at the very start.
22:20It's interesting, though, because I don't think it's attached to the screw.
22:22I think it's attached to the drill.
22:23The dangerous bit in this whole process is the drill.
22:27And the trouble is this product feels very expensive against a pack of screws.
22:31Yeah.
22:32It doesn't feel at all expensive against a drill.
22:38John, Jamie, I do think the price is probably an issue.
22:45And to me, it feels like you would like a dragon to come in and run the business for you.
22:53And I say that because you've not had any luck yet with sales and you're willing to offer the dragon
22:57the opportunity to be the single biggest shareholder in the business effectively.
23:01And that comes with an obligation that I don't feel comfortable meeting.
23:07So I'm going to say that I'm out, but I wish you the very best.
23:13John and Jamie, hi.
23:14Hi.
23:15I'll just tell you where I am because I think where I'm stuck with this is given the 40%
23:20away, it's no one is going to drive this business more than you two standing there.
23:26And, like, I got 50 no's from a retailer.
23:29And I think they even blocked my email address at one point because they were like, this girl is so
23:33annoying.
23:34But I was delusional.
23:36And you have to be so delusional in your product that, like, I know it's like a...
23:43I'll try another way.
23:44I'll try another way.
23:45And I'm just not feeling that.
23:47So that's kind of where I'm at.
23:49And I can only get behind something that you need to be more delusional than me on this.
23:53And right now, there's no delusional here.
23:55So, well done.
23:57But I am out.
24:04Guys, to try and sell this product on its own will cost you a lot of money.
24:10Yeah.
24:11You could make it into a set.
24:14Somebody comes in.
24:15They want to buy that screw.
24:17It's already in the packet.
24:18And that's Peter's idea.
24:19I won't take it away from him.
24:21But I would say this.
24:22I'm not your right dragon for this.
24:26So I'm going to say that I'm out.
24:27I wish you all the best.
24:28Thanks, Peter.
24:32John, Jamie, I really think it's genius that you came in and offered 40%.
24:40Because you want to make it attractive for a dragon.
24:42Yeah.
24:44So as a dragon that really likes opportunity and never likes to miss out, and bear in mind there is
24:50one dragon here that's had quite a good little bit of success with DIY.
24:54I'm just going to pause for a moment and reflect.
25:09So somebody stood in here about 10 years ago, a couple stood in here, Jenny and Martin, and they had
25:17a genius DIY product.
25:20And Martin said, I'm an inventor.
25:22I haven't got a clue about business.
25:24But I'm an inventor and I know it works and it's brilliant.
25:27That was Marksman Pence.
25:30They didn't know the numbers.
25:32They haven't talked to the right people.
25:35But there was something about them and there was something about their product.
25:38And apart from anything else, I wanted to find out whether or not they really had something.
25:45And that product now we sell millions of.
25:55So I'm going to make you an offer.
25:59Thank you very much.
26:03We haven't heard it yet.
26:07So you asked for ÂŁ50,000 for 40% of the business.
26:12Yeah.
26:12I'm going to offer you all of the money.
26:17And I want 30% of the business.
26:20Whoa.
26:24Wow.
26:24Because it's your business.
26:27And I don't want to be the majority shareholder.
26:34So...
26:38I think you guys are...
26:40You're really great.
26:41I think you've got a really good idea.
26:43It's really neat.
26:45Um...
26:45And...
26:46I think that you've got the perfect dragon for this.
26:50So...
26:51I'm not going to make you an offer and say that I'm out.
26:54But it'll be interesting when you reflect over there what your decision is.
27:01Do we need to reflect?
27:02Don't think so.
27:05We would love to accept your offer.
27:07Well done.
27:09Excellent.
27:09Well done, guys.
27:10Well done, you guys.
27:12Great.
27:13Success for the father and son team.
27:16Thank you very much.
27:16John, Jamie.
27:17Thank you very much.
27:18Well done.
27:19Can you be a little bit more excited?
27:21Seriously, I'm more excited than you at the moment.
27:24Come on, a little bit of a...
27:26Yeah, thank you.
27:27Thanks very much.
27:29The DIY duo have secured their dream dragon
27:33and managed to achieve that rare feat of leaving the den,
27:38having given away less equity than they offered.
27:43I'm all over the moon that I've got Deborah in the team.
27:46I can't believe it.
27:47It's absolutely amazing.
27:48They seemed in shock.
27:52That was like, yeah, thanks.
27:57I can't wait to film on.
27:58I'm so proud of my dad because to see the whole journey come together
28:02like this is just unbelievable.
28:16Well, here we are.
28:17Right then.
28:18The den.
28:19My name is Fred Parry and I'm from London.
28:21Look at this thing.
28:24I can't imagine many people who have been dressed as a chicken in the den.
28:28I am wearing a chicken costume because I built a game
28:31where someone hides in a chicken costume.
28:33And I thought it was only right to put me in it today.
28:38The dragons are probably going to guess we're a birthday party,
28:42fancy dress thing.
28:44They're going to think someone's obsessed with chickens probably.
28:49Children's entertainer.
28:50Oh.
28:52Oh.
28:55Honestly, it's a really good chicken.
28:56Do you know what?
28:57It's good to know you have a plan B sometimes in life.
28:59In life, you should always have a plan B.
29:05I'm nervous.
29:06This chicken costume seals in all the heat.
29:09I'm going to be roasted in that den.
29:12Roasted chicken.
29:17One.
29:19Two.
29:20Three.
29:21Four.
29:22Five.
29:23Six.
29:24Seven.
29:24Eight.
29:26Nine.
29:26Ten.
29:29Five.
29:34Five.
29:39Five.
29:50I don't know what to do now.
29:52I was about to applaud, and then I thought, maybe not.
29:55Oh, please, please.
29:58Wow.
29:59Scary.
30:01Please.
30:06Hello, dragons.
30:07My name is Fred, and I'm asking for ÂŁ50,000
30:10in exchange for 10% of my business, Chicken Rush.
30:13We are a real-world GPS-powered game of hide-and-seek.
30:17Teams race to find someone hiding in a pub or bar dressed as a chicken
30:21and use our app as a live radar.
30:24Along the way, they complete silly challenges,
30:27compete for points, and submit photos and videos as proof.
30:31It's team-based, tech-driven, and utterly ridiculous.
30:34In year one, we turned over ÂŁ55,000.
30:37In year two, we forecast ÂŁ164,000.
30:41We've had over 7,000 players across 50 countries with no full-time staff.
30:46We've had over 5 million views on social media
30:49with barely any marketing spend.
30:51I built the platform myself, the tracking, the booking system, the scoring, the lot.
30:57It's scalable tech that can pop up in any city tomorrow.
31:01I've proven it works.
31:02Now I want it to grow.
31:04With your help, we can achieve global chicken domination.
31:09A real-world game of hide-and-seek with a tech twist.
31:13Using GPS and a custom-built app,
31:16Fred Parry is reinventing outdoor play for the digital age.
31:22Good to see you.
31:24The entrepreneur is seeking an investment of ÂŁ50,000.
31:29Terrifying.
31:30In exchange for a 10% share in his feathered venture.
31:35But will the dragons flock to the opportunity or cross the road to avoid it?
31:45Fred, I can't work out whether you're looking for an investment
31:49or you're looking for a dragon to dress up as a chicken.
31:53Very much looking for an investment to grow the game.
31:56Most of our games at the moment are team-building games.
31:59So someone dresses up as a chicken,
32:01often the boss of a company, perhaps, and hides.
32:05Okay.
32:06So I'm trying to work out what this business is.
32:11It's hide-and-seek for adults.
32:13So one person hides, a circle appears on a map
32:16that gradually shrinks around their location.
32:19And then there's also challenges teams do
32:21while they're playing the game.
32:23So it's not just about finding the chicken,
32:25but you get 100 points for finding the chicken first.
32:28Okay.
32:30So I want to know about you.
32:32What's your background?
32:33Yeah.
32:34You built this yourself.
32:35I just want to know, who am I invested in?
32:38Which chicken am I going to invest in?
32:39Yeah, from the beginning,
32:41I was building online learning games for kids.
32:44But over time,
32:45and I think a lot of people now
32:47who are software developers find this,
32:49they're not meeting people on the other side.
32:51They're not seeing how their tech is used.
32:54So I had a bit of a disillusionment with that.
32:56So I wanted to prove that I could build one bit of tech
33:00where I know that people were enjoying using it,
33:03meeting the people, playing the game.
33:04This was like the perfect example
33:06and perfect case study for me being able to do it.
33:08And then we hosted a public dating event
33:11for 40 singles to get it off the ground,
33:13which is a bit strange.
33:15Like, there's one thing, a chicken chasing game,
33:17and then there's also a date involved with it.
33:19Well, people want to be distracted
33:21by the fact that they're on a first date.
33:23So it turns out our dating events became really popular
33:25and we had a wait list of over 2,000 singles in London.
33:29Single people wanted to come and play this game
33:33to meet somebody else.
33:34People have found love while hunting chickens, yeah.
33:39Right, so let's look at the serious part of this situation,
33:44the business part.
33:45So how do you monetize this?
33:48How do you organize it?
33:50Just want to know.
33:51Yeah.
33:52So there's two types.
33:55You get the tech and you play with your friends
33:57for ÂŁ15 per person
33:59in a team-building setting or just for fun,
34:01or sometimes with large companies,
34:05they've got a big budget,
34:06they just want to hassle-free someone to come here,
34:08hand over a chicken costume, explain the rules,
34:10and then you play the same game.
34:14Fred, how does this get big?
34:17What does big mean to you?
34:23Big is getting into definitely at least
34:26every city in the UK as well as any city
34:30which has enough hiding spots in them.
34:33And in terms of quantifying big,
34:35what does that look like?
34:37The number I've had in my head is 100 games a day.
34:40And if you did 100 a day,
34:41what does that look like in terms of revenue?
34:45It's 30 grand revenue.
34:48A day?
34:48Yeah.
34:49Okay.
34:52Fred, hi.
34:54Hello, Deborah.
34:54Have you forgotten by now that you're dressed as a chicken?
34:58You do start to, if you wear it enough times.
35:02Okay, so what next?
35:05I mean, you know, it's a cool, funny, eye-catching idea.
35:12Yeah.
35:12And I can imagine my corporates,
35:14who are desperate to find the next thing
35:16and not do the old paint-balling thing for corporate events,
35:21so I can imagine them thinking,
35:22oh, that looks new and different.
35:24But if you're really going to leverage this business,
35:27you need to become the place to look to
35:29the innovative ways of building teams, don't you?
35:32Yeah.
35:32You know, so what next?
35:35What's your plans?
35:36At the moment, my core focus is just grow outside of London.
35:40With your investment, though,
35:41it's about scaling the casual games.
35:44So birthdays, stags and hen do's.
35:46Easter.
35:47Easter.
35:47Turkey hunt for Christmas.
35:49Yeah, yeah.
35:49All of these things.
35:50But at the moment, it's just been me working on this.
35:53So I just had to focus on one small thing at a time.
35:57Okay, so you're on your own at the moment.
35:59Yeah.
36:00Are you just going to keep moving yourself around the country?
36:02For the next year, that would be our main focus.
36:05It's you.
36:06Yeah.
36:07But we'd have part-time help brought in for each event.
36:12Fred, hi.
36:13Hi.
36:13I love adding the crazy into business.
36:16But then, on the flip side, I hate organised fun.
36:20Yeah.
36:21I love the dating idea.
36:23I think that's genius.
36:24But I think where you're almost missing that trick
36:26is actually making this a thing
36:28before you pigeonhole it into the corporate world,
36:32into the dating world.
36:33And it's like, if that wasn't on Inventbrite in London,
36:36and you've got everyone in London like,
36:39hey, do you want to go to Pilates today?
36:40Do you want to go and get coffee?
36:42Or do you want to go and do this crazy thing
36:43I just saw called Chicken Rush?
36:44Like, you get everyone doing it.
36:47And then you pigeonhole it into corporate, dating,
36:50whatever you want.
36:51And it's like, yeah, how do we make this bigger?
36:55And how many people come back?
36:57So once they've done Chicken Rush,
36:58do they then delete the app?
37:00Or do they stay on?
37:01Do they do another one?
37:02Yeah.
37:04So, as far as numbers are concerned,
37:065% in year one of our corporates came back.
37:10And then 10% of the people
37:11that came to one of our events came back.
37:14Some have played over five times.
37:28I'm like, I'm really, I'm really into businesses
37:31that are able to bring people into the real world
37:34and find ways for them to connect.
37:37And especially businesses that are a platform
37:39to scale that globally.
37:42So what am I investing in here?
37:43Am I investing in a platform that has scale?
37:46That's really the pitch that I think
37:48really would have swung me,
37:50is something like that.
37:51We have built that events platform in the background.
37:54So a huge part of it is for all our dating events.
37:56The thing you pitched to me today
37:58was a chicken game
37:59where people hide in pubs.
38:03So if it sounded different,
38:05if it had started with the big picture,
38:07the macro, loneliness epidemic,
38:08people despairing at dating apps,
38:10letting them down.
38:11So we're building the platform
38:12for social, competitive, in real life games.
38:16I would have been like, ooh, here we go.
38:18I rewrote that on Sunday,
38:19but then I got worried
38:20that you wouldn't understand what the game was.
38:22So the whole pitch was
38:25all around us, pubs are closing.
38:27There is a loneliness epidemic.
38:29That was the pitch?
38:30That was the pitch, the whole thing.
38:31That was the pitch.
38:32The key to pitching for me
38:34is you start with the why.
38:36Pubs are closed.
38:37Loneliness epidemic.
38:37I would have been nodding like a dog.
38:39Yes, yes, yes.
38:40And then you build it up and say,
38:41so we've made this.
38:42And I go, ooh, interesting.
38:44But what you did is you started with the what?
38:45You started with the chickens hide in pubs.
38:47And I'm like, ugh.
38:49My original pitch was just that exact story.
38:52It might be the story,
38:54but it's not the business either that you have.
38:56That's the difference, is it?
38:57Well, this is one...
39:00This is a chicken game with a GPS tracking device.
39:03Yeah, we get hundreds of people outside interacting.
39:08The whole aim and ethos of this
39:11is just trying to get people outside
39:12and playing and meeting new people.
39:15That's why I set it up anyway.
39:17Yeah.
39:17Fred, I think it's great.
39:19I think that it's a tough one to invest in.
39:25It really is.
39:27And sadly, I'm going to say that I'm out.
39:29But good luck to you.
39:32Thank you, Peter.
39:37I do think you need an investor,
39:39but I think it's going to be tough for you
39:41to get an investor based on what your pitch was today.
39:44Okay.
39:44The chicken thing.
39:45Because it's really, really fun,
39:47but it's also quite distracting
39:49in a way where an investor's trying to understand
39:52the potential and the scale of this business.
39:55The way that you came in with the chickens
39:57and that Deborah Meaden and Peter Jones' face,
40:00I mean, that was distracting,
40:01but the whole thing kind of diverted me
40:03from the real problem you're trying to solve here,
40:05which I've managed to tease out of you,
40:06which is loneliness, connection,
40:09bringing people together in real life
40:10in an increasingly digital world.
40:12That is it.
40:15That's an inspiring proposition,
40:17but the proposition I saw today wasn't that.
40:23So I'm going to say that I'm out,
40:24but I wish you the very best.
40:30Fred, I think you need investment
40:32because you need people around you.
40:36My issue is that I can't personally
40:40see how I can spend the time that you need
40:44in this business.
40:46So I won't be investing, I'm out.
40:49Thank you, Deborah.
40:53Fred, I'm going to say where I am.
40:55Hi.
41:00I'm going to say I'm going to go back to my little cage.
41:05Yeah.
41:05Not invest, and I'm out.
41:07Thank you, then.
41:12Hi, Fred.
41:13Hello.
41:15I just panicked there, I got your name wrong.
41:16I was like, did it?
41:19No, I just think you're great.
41:20I think you're great,
41:22and I think you're amazing.
41:23And for me, I feel like there is something
41:25in this chicken play.
41:28But I think this needs to be blown up stronger.
41:32Make it massive,
41:32and then you cash in with corporates,
41:36with dating.
41:36Once you've made this chicken game a bigger thing,
41:40I do generally feel like if I came on board,
41:42I would just be giving you the same advice
41:44that I've kind of given.
41:46But I would love to help you in however I can,
41:48and so I'm not going to be your business partner,
41:50but I can be that person to call,
41:52and this is going to be huge,
41:53and you're going to be huge.
41:54I think you need to keep going.
41:55But I am out, but I wish you all the best,
41:57but I will definitely help you.
41:59Good luck, Fred.
42:00Good luck, Fred.
42:00Cheers.
42:00Thank you very much.
42:01Cheers.
42:04Sadly for Fred,
42:05he's failed to land any of the dragons.
42:10Though he has managed to secure a wingwoman
42:13in Jenna Meek.
42:14I love the idea of getting everyone out together
42:17and creating something.
42:20It just wasn't something enough.
42:23Jenna was really helpful.
42:25She gave me some advice about how to have mainstream appeal,
42:28so expect to see more chickens popping up in other cities
42:31tomorrow, maybe.
42:45I'm Rachel Williams.
42:47I'm from a small town in Lancashire in the north of England,
42:50and my business was born on the top of a mountain in the French Alps.
42:57Nice, bright packaging.
42:58Lip creams.
42:59It's a lip brand.
43:01Definitely a lip brand.
43:03It's been a long journey,
43:05and many, many people said,
43:07you'll never make it in this industry.
43:10And being a Northern girl,
43:11I kind of thought,
43:13well, I will.
43:13I'll show them.
43:14So I did.
43:16So, yeah, I feel quite proud that I got here.
43:29Hello, dragons.
43:30I'm Rachel.
43:31I'm a physiologist,
43:33and I'm the founder of Albus & Flora,
43:35a specialist, award-winning skincare brand
43:39that provides targeted support
43:41for the lips and skin around the mouth.
43:43I'm here today to ask for ÂŁ50,000
43:47in return for 15% equity in my business.
43:53Lines and wrinkles around the mouth,
43:56thinning lips,
43:58chronic dryness,
44:00cold sores,
44:01sunburn,
44:02and lip cancer
44:02affect the confidence and comfort
44:05of millions of men and women every day.
44:08UV exposure and sun damage
44:10are known to impact on these concerns,
44:13however,
44:14UV lip protection
44:15is not always used on a daily basis
44:18in people's skincare routines.
44:21We've launched two products so far,
44:23Lip Shield,
44:24which is an SPF lip balm,
44:27and Lip Facial,
44:28which is an exfoliating
44:29and plumping treatment mask.
44:31We currently provide products
44:34to 370 aesthetic clinics,
44:37spas,
44:38and beauty salons.
44:39We also supply direct
44:41to our customers
44:42via our website.
44:43Today,
44:44we have delivered ÂŁ695,000
44:47worth of accumulated turnover,
44:49and we want to develop
44:51a clinic and consumer brand
44:53that can be accessed globally.
44:58I can breathe now.
45:00Breathe.
45:01I can breathe.
45:05Products which both prettify
45:07and protect the lips
45:09are the offering
45:10from Rachel Williams.
45:12In the large square box,
45:13you've got a part of the Lip Facial,
45:15and then in the smaller boxes,
45:17you've got the SPF Lip Shield.
45:20She's looking for a ÂŁ50,000 investment
45:24in return for a 15% share
45:26in her business.
45:28Can I just tell you,
45:29when you do your lipstick,
45:30you only have to put it out
45:31that much, Steven,
45:32not even that much.
45:34Just a bit of the end.
45:35That's it.
45:37Rachel believes
45:38her targeted approach
45:39fills a gap
45:40in the ever-growing
45:41skincare market.
45:43How does it look?
45:44Oh, that's good.
45:46But will the dragons
45:47be convinced
45:48by her pout-focused pitch.
45:54So, have I got this straight
45:56that this is essentially
45:57the unique selling point
45:58of this business,
45:59is that it protects my lips
46:01from sun damage?
46:03Yes.
46:03And people don't realise
46:04how much damage
46:06you can get
46:07from daily UV.
46:09And the lip
46:10is so thin and delicate,
46:11and that means
46:12it dehydrates quite quickly.
46:14So, is this
46:15the health product
46:16versus a beauty product,
46:18per se?
46:19The SPF
46:20is a lifestyle product.
46:21You know,
46:22everybody's got
46:22a pair of lips
46:23and we need
46:24to look after them.
46:25And how is this
46:26different from a lip balm?
46:27Because it's a broad-spectrum
46:29UVA, UVB protector.
46:31So, it is...
46:32What does that mean
46:32for a muggle like me
46:33that there's nothing
46:34about UV anything?
46:35So, it's going to protect you
46:37against the damage
46:37that UV rays can do
46:39because UV would come
46:40into the skin
46:41and it can impact
46:42on the cell's physiology
46:43and function
46:44and sometimes
46:45that UV damage
46:46is accumulated
46:48through your lifetime.
46:50So, it is like
46:50a lip sun cream then?
46:53Yes, the lip balm is, yes.
46:55Lip balm.
46:55Because I put some
46:56of this lip balm on.
46:57But what's weird,
46:58this lip balm,
46:58I've got a bit tingly
46:59and it feels like
47:00my bottom lip's
47:01going thicker.
47:03So, that isn't a lip balm.
47:05So, that's the
47:06advanced treatment mask.
47:06It's not a lip balm.
47:07No.
47:08So, the lip balms
47:09are in the sticks.
47:10So, what's that supposed
47:11to do?
47:12So, the lip facial
47:12is an exfoliating
47:14and plumping
47:15treatment mask.
47:17It's plumping.
47:19So, that is a product
47:20that we use...
47:21So, that's why
47:22that feels
47:22it's getting thicker.
47:24It's swollen up.
47:26Could I ask you a question
47:27while these
47:28are playing with each other?
47:29No, we're not playing.
47:30I'm just asking
47:30some very important questions.
47:32Just tell us about
47:33your qualifications
47:34in this sector.
47:35Qualifications?
47:36I've been a physiologist
47:38for many years
47:39and supported
47:40British teams
47:41in three Olympic cycles.
47:43Really looking at
47:44the impacts
47:44of environment
47:45on health
47:47and, you know,
47:48physiology.
47:49So, my interest,
47:50just so you know,
47:51I own the
47:52trademark lipstick.
47:53Okay.
47:54And I'm about
47:56to go retail with it
47:57later in the year.
47:58Cool.
47:59So, this is
47:59of interest.
48:00Yes, cool.
48:01Just want to make sure
48:02you've done
48:03695,000 turnover
48:05in total.
48:06Yes.
48:06So, can you break
48:07that down
48:07so we can get an idea?
48:09So, the last three years
48:10in 2022,
48:12we did
48:13139,000
48:15with a net
48:16of 41,
48:17which obviously
48:18gave us a 29%
48:19net profit.
48:20profit.
48:21And then, in 2023,
48:23we did 143,000
48:26turnover
48:26and 27,000 net.
48:29Mm-hmm.
48:30And then, in last year,
48:32we did, again,
48:34140,000
48:35and a 15,000
48:37net profit.
48:40Profits have been going down.
48:42Yes.
48:42Is that because of marketing?
48:43No, it's a strategic decision
48:45by me
48:46because when we had
48:47that 29%
48:49net profit,
48:50I knew that
48:51the decision
48:52to become a really
48:53specialised,
48:54focused brand,
48:55you know,
48:55really supporting
48:57the professional retailers
48:58was working.
48:59But I'm,
49:01you know,
49:01a single entrepreneur
49:03with not a huge amount
49:04of working capital.
49:06Yeah.
49:06And I needed,
49:07therefore,
49:08to prepare the business
49:09to scale.
49:10So, I wanted to put in
49:12foundations in the last
49:13two years
49:13to help me do that.
49:14So, I've got a new office,
49:16a part-time member of staff.
49:18We launched the new product.
49:20We did a rebrand
49:21and a refresh
49:22because I wanted to make sure
49:23the image was right
49:24for both clinic,
49:26market,
49:27as well as retail.
49:30Look, you've done,
49:31you've done quite well.
49:32I mean,
49:32the product looks really great.
49:34We do have,
49:36it just so happens,
49:39an experienced expert
49:41in the den today
49:43with Jenna.
49:45My question is actually
49:46not just to you
49:47because I don't know
49:47a lot about this market
49:48but it would be to Jenna.
49:50Are these sort of types
49:51of products widely available?
49:53Is this already out there?
49:55Yes, I guess that was...
49:56Hi, Rachel.
49:57Hi.
49:57I think that's what
49:57I'm trying to struggle with
49:58is I can probably
50:01already find something similar
50:03because it's a very crowded market.
50:06I think one of the things
50:07that's confusing me
50:08a little bit
50:09is that kind of vision
50:10of where you see
50:11the brand going.
50:12So, like,
50:12is this going to be SPF?
50:15Everything will be focused
50:16around SPF
50:17or will it be more focused
50:18around lips?
50:20Like, how does a product range
50:21build from here?
50:22So, we've got a few
50:23collections planned.
50:24So, the SPF products
50:26are all part of
50:26the daily care range.
50:28The lip facial is also
50:29in the daily care range.
50:31There's then
50:31the targeted care range.
50:33This range will focus
50:35on supporting clients
50:36who've got inflammation,
50:37you know,
50:38when they're on acne medication.
50:40Solution-based.
50:40So, you're going to have
50:41a daily for everyone,
50:42a solution-based range.
50:45And then...
50:45And then,
50:46third one would be
50:47targeting sort of
50:4840 and upwards.
50:50OK, so,
50:50if you had a magic wand,
50:52what beauty retailers
50:53do you see this branding?
50:54Just so I understand
50:54the vision.
50:56Yeah.
50:56So, I think
50:57the more premium end,
50:59definitely sort of
51:00Liberties,
51:01Selfridges,
51:01Space NK,
51:03Sephora.
51:03But I think for,
51:04you know,
51:05for Sephora,
51:05we would need to increase,
51:07you know,
51:07our kind of
51:08digital footprint first.
51:12Do your customers
51:13love the product?
51:14Yes, they do.
51:15Do they tell people
51:16about the product?
51:17They do.
51:18I'm not very good
51:19at sharing.
51:20So, they love the product
51:22and they tell people
51:22about the product.
51:23So, why,
51:25for the last three years,
51:26has the revenue
51:27been stagnant?
51:29I've almost never seen
51:30numbers like this
51:31where it's almost
51:32exactly the same
51:32for three years
51:33at 140k in revenue
51:35three years in a row.
51:36Super consistent
51:37and the reason being
51:38that I've invested
51:39in the infrastructure
51:40and the operations
51:41to get ready
51:42and I've not been able
51:43to do that
51:44at the same time
51:45as put money
51:46into the sales
51:48and marketing.
51:49Okay.
51:50So, one of the things
51:51investors look for
51:51in businesses
51:52when they're trying
51:52to invest
51:53is this thing
51:53called the growth profile
51:55and the growth profile
51:56is essentially
51:56the history of the business
51:57and how it looks
51:59from a revenue
52:00or profit growth perspective.
52:02Yeah.
52:02If it's flat,
52:04it kind of suggests
52:05that the future
52:06could be flat
52:07and I like businesses
52:08that have a good
52:09growth profile
52:10which is a challenge
52:11a lot of entrepreneurs
52:12faces.
52:12When you're a solopreneur
52:13on your own,
52:15you have decisions
52:16you have to make.
52:17It's trade-offs
52:17and the trade-off
52:18that you made
52:19was to focus
52:20on infrastructure
52:21and those things first
52:22versus the growth profile
52:23of the business.
52:25I think it's quite important
52:26to make a different decision
52:27which is to focus
52:28on that growth profile
52:29because that will give
52:30an investor
52:31the confidence
52:32that they have
52:32enough growth
52:33to get a return
52:34from the business
52:35in future.
52:36But the growth profile
52:37of the business
52:38is an amber flag for me
52:39and I find it hard
52:40to see
52:41based on the last three years
52:43and the current year
52:44how an investor
52:44would get their 50k out
52:45and a multiple
52:46on the money.
52:48So for that reason
52:48I'm going to save that amount
52:49but I wish you
52:50the very best.
52:51Rachel,
52:52I'm going to be the same
52:53you've created
52:54a great product
52:56I'm struggling
52:57to see
52:58the size
52:59of the opportunity
53:01so sadly
53:02I'm going to say
53:03that I'm out
53:05but yeah
53:05congratulations
53:06on creating
53:07a great product.
53:11Rachel
53:12I think you've
53:13hit a market
53:14and you really
53:15really know your stuff
53:16and you explain
53:17it really well
53:17but the truth
53:19of the matter
53:19is you are
53:20in a highly
53:21contested space
53:22this is readily
53:23available for me
53:24and I buy it
53:26so I'm afraid
53:27it's not an investment
53:28for me
53:28I'm out.
53:35Rachel, hi.
53:36Hi.
53:36I think
53:37I mean
53:37obviously I know
53:38what it's like
53:39to develop
53:39a beauty product
53:40so just
53:40please
53:41well done.
53:43The packaging
53:43is lovely
53:44the branding
53:44is lovely
53:46it's really
53:46really just
53:47stand out
53:48I think
53:49in terms
53:49of investment
53:51where I'm at
53:52is it's not
53:53something I feel
53:54like I want
53:55to invest in
53:56mainly because
53:56it's probably
53:57too close
53:57to my current
53:58business
53:59but more
53:59because I can't
54:00necessarily see
54:01the bigger
54:02vision in terms
54:02of everything
54:03you want to do
54:05but I would like
54:06to throw you
54:07a lifeline
54:07because I do
54:08think this is
54:08a good product
54:09I will help
54:10you get this
54:10product in front
54:11of Selfridges
54:12Space and Care
54:13Sephora
54:14in the UK
54:14so that you've
54:15got that step
54:17to entry
54:17because you can
54:19tell how passionate
54:20you are
54:20I'm not going
54:21to invest
54:21I am out
54:22so I'm sorry
54:23but yeah
54:24I will help you
54:24do that step
54:25and you'll be
54:26able to take it
54:26from the rest
54:27OK
54:27thank you
54:28that's an amazing
54:28great offer
54:29yeah it's an amazing
54:30offer
54:30thank you so much
54:32Rachel
54:33you are investable
54:36but that's not
54:37OK
54:38and that's where
54:38I'm torn
54:39and I'll tell you
54:40why I'm torn
54:42I am launching
54:44a lipstick retail
54:45concept
54:46later in the year
54:48OK
54:49lip care
54:50is definitely
54:51a sector
54:52that could be
54:54included
54:56what I'm interested
54:57in is your knowledge
55:00and trying to think
55:02how I can kill
55:02two birds
55:03with one stone
55:03here
55:04how you can
55:04help me
55:05with the knowledge
55:05and help you
55:06with your business
55:07yeah
55:08yeah that would
55:08be exciting
55:09so
55:11your offer
55:12was
55:1250,000
55:1315%
55:14yes
55:17I'm willing
55:18to give you
55:19the 50,000
55:19pounds
55:23but I would
55:23want 35%
55:2935%
55:30obviously
55:30is quite high
55:31for me
55:32as a brand
55:32and I know
55:33that I'm most likely
55:34going to be
55:35multiple rounds
55:36to move forward
55:37to take the brand
55:38to where I want it
55:39to go
55:39so that's quite
55:40challenging
55:42would you be
55:43prepared to reduce
55:44that offer
55:45if you got your
55:46money back
55:47well if I got my
55:47money back
55:48within 12 to 18
55:50months
55:51down to 25%
55:54okay
55:56would you be
55:57prepared to drop
55:58to
56:0020
56:00no
56:0625
56:0930%
56:10I'll go down
56:10to 25
56:11when I get
56:12my money back
56:15okay
56:17that's a fantastic
56:18offer
56:19I would be
56:21happy to work
56:22with you
56:22excited to work
56:23with you
56:23and definitely
56:24happy to accept
56:25your fault
56:25great great
56:26great great
56:26great great
56:27we're going to be
56:28a teaser
56:28yeah we can do
56:29that
56:29I think so
56:30it's a win
56:31for Rachel
56:32thanks for all
56:33your time
56:34well done
56:34thank you
56:35she walks away
56:36with an offer
56:37of support
56:38from skincare
56:39savant
56:39Jenna Meek
56:41but it's
56:42Touka Suleyman
56:43who's put his
56:44money where his
56:44mouth is
56:45securing a stake
56:47in the business
56:48really excited
56:52just fabulous
56:54to get investment
56:55from Touka
56:56and yeah
56:57also absolutely
56:58lovely
56:58you know
56:59offer from Jenna
57:00so I'm super
57:01grateful
57:01and humbled
57:05how exciting
57:07it was her
57:08that I really
57:09loved
57:10I'm investing
57:11in her
57:12as an entrepreneur
57:13well you've got
57:14an expert
57:26dragon's den
57:26will return
57:27later in the year
57:28perfect
57:29I think this is
57:30the first time
57:31in the den
57:31there's been
57:32more females
57:33than men
57:34I think this is
57:36what I've been
57:36looking for
57:37for a long time
57:37I just came out
57:38of being your
57:39worst nightmare
57:40I'm about to
57:40go back in again
57:41you're sassy
57:42I'm like
57:42go on
57:43go sell more
57:44is that the way
57:44you work
57:45is that what you
57:46guys do as investors
57:47I think this is
57:48a wonderful opportunity
57:49and that's why
57:50I'd like to talk
57:50to Tony
57:51hello Peter
57:52I was hoping
57:53you'd say that
57:54am I happy
57:54to share with Peter
57:55my business
57:56you should tell me
57:57I should not invest
57:58but my heart
57:59tells me I should
58:02you're setting us all off
58:03come here mate
58:05I'm so proud of you
58:06wow Gary
58:07you teed that up
58:07as if we were teammates
58:09and then
58:10that's the most guilty
58:11I've ever felt
58:11in my life
58:12yeah no
58:13it's great to have
58:13you back Gary
58:44you
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