- 2 days ago
Dragons Den - Season 23 - Episode 02
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00:00The doors to the den are open once more.
00:04And the battleground for business is set.
00:07This is where fortunes are made and futures are forged.
00:12But in this brand new series, the game has changed.
00:18Alongside four seasoned dragons stands a revolving door of fierce investors.
00:25Ambitious, competitive and ready to take on the old guard.
00:31Tonight, an old friend returns.
00:35I'm Gary Neville, ex-football player, broadcaster and businessman.
00:39Welcome back, Gary. It's great to have you next to me.
00:42No, it's brilliant to be back.
00:43The thing that I learnt on the pitch that I've taken into my business career
00:46would be that you definitely can't win a game on your own.
00:49I'm happy to dilute further with other dragons.
00:51I'm not going to miss out on this opportunity.
00:52You've got to make sure you have great people around you and great teams.
00:56I'll get shot down first and then they can come in behind and see.
01:00When someone walks into the den, the thing that I'm going to look for most
01:03is their energy and their passion for what they do.
01:05I told myself I would not get emotional.
01:07Don't get emotional yet.
01:09You'd be really crying when they make you the offer.
01:12Coming back into the den was a no-brainer for me.
01:14I've watched every single episode for 20 years.
01:17Come on, Debra, you've never done anything with me yet.
01:19I've been in here three times.
01:20I enjoyed it last time, I'm sure I'm going to enjoy it this time.
01:24The stakes are high.
01:26Who has what it takes to face the dragons?
01:38Oh my God.
01:41Okay.
01:42My name is Dani and we make skincare from rescued food.
01:46Oh my God, okay.
01:47It's happening.
01:48It's happening.
01:49I've got this.
01:49I've got this.
01:50I'm in the den today because we've got to a point in the business
01:53where we're just about to lift off.
01:58And it feels like the right time to get investment
02:00from someone that really believes in our mission
02:01and it feels like the den is the perfect place to do that.
02:10Hi.
02:16My name is Dani and I'm the founder of My Skin Feels.
02:20I'm here today to ask the dragons for £50,000 in return for 10% of my business.
02:26My Skin Feels is skincare made from rescued food, including the byproducts of tomato ketchup,
02:32olive oil, breakfast oats and orange juice, which I know sounds like a very weird salad
02:37you'd never eat, but I promise it's amazing for your skin.
02:40I take the bits not used in the Italian food manufacturing industry.
02:44So the skin of the tomato, the stalk of the oat, all the crushed olives.
02:49Then I ferment and extract the amino acids, the antioxidants, all the skin loving goodness.
02:53That's what goes in my products.
02:55I've been in the beauty industry for 15 years.
02:57I was part of the small team of people that set up Charlotte Tilbury
03:00and I've gone on to work for a ton of brands since.
03:03So I've really seen just how unsustainable the beauty industry can be.
03:06But more than that, the beauty industry is often focused on how you look.
03:11My Skin Feels is designed to focus on how you feel too,
03:15prioritising healthy skin for everyone.
03:18We launched with two products, both over 99% natural, vegan
03:21and thanks to our rescued fermented food, they're suitable for sensitive and eczema-prone skin too.
03:27Now we've been in business for just over two years.
03:30In year one we did 23,000, year two 73,000
03:33and we're already expecting to double that this year.
03:36We've launched in Whole Foods and launched across the US with Credo Beauty,
03:39a pioneer in the clean beauty movement.
03:42But I'm small.
03:43I'm a one-woman business and I'm looking for a dragon that wants to join me on my mission
03:47to change consumer habits and challenge the beauty industry to be better together.
03:53Would you like to smell the products and try them?
03:54It doesn't smell like ketchup, I promise.
03:58A face wash and moisturiser, both containing ingredients extracted from food waste,
04:05are the offering from Dani Clementina Close.
04:07Thank you so much.
04:08Do I take one of each?
04:10I take one of each.
04:10I would recommend smelling the wash first, because it's the most citrusy.
04:14Dani is looking for 50,000 pounds.
04:16And then definitely try the moisturiser on your hand, because honestly it's insane.
04:20In exchange for 10% of her business.
04:23Just for Tuka's sake, is it edible?
04:25It is 99% natural, but I really wouldn't recommend eating it at all,
04:28or putting it on toast, or any of that kind of thing.
04:31Dani's products aren't for eating, but have the dragons scented an opportunity?
04:38Dani, what a brilliant pitch.
04:40And I love your energy.
04:41Thank you so much.
04:42I just want to talk a little bit about how you actually go through your process
04:46to make your products.
04:47You mentioned the Italian food industry.
04:49Yes.
04:50Why specifically the Italian food industry, and how do you get your products
04:53from being in the Italian food industry into that packaging?
04:57It's quite a long story, but I actually wanted to use UK food waste when I started,
05:01but it wasn't really a thing.
05:02And so we work with partners in Europe that work with manufacturers,
05:05and then we work with a famous university, and they are our fermentation lab.
05:09But actually, Italian food's the best food, right?
05:11It's full of sunshine.
05:12The skin of an Italian tomato is full of lycopene, full of antioxidants.
05:15And I'm trying to get people to understand that you can find beauty in waste.
05:20You're a specialist, obviously, in this industry.
05:22What will this product do that other products in the same space can't do?
05:29Why is it different?
05:30I mean, it's different, A, because of the ingredients, but also the whole brand itself.
05:33I'm really challenging the norm, and there's a whole trend at the moment
05:37with young kids using crazy actives on their skin.
05:39And I'm a big believer in clean beauty.
05:41And so for me, making something super innovative that gets people to start thinking
05:44about what they're putting on their skin in a different way,
05:47that's really how we're doing it.
05:49So, Dani, you were at Charlotte Tilbury.
05:52What were you doing there?
05:54Oh my gosh, it's such a journey, guys.
05:55I was 19 when I started, and I actually was her intern, then her PA,
05:59then her social media marketing manager.
06:01And so I saw the brand go from literally three of us to ten people,
06:05launched in America, and then I left.
06:06But it was an amazing experience.
06:07So I saw how to build a brand, and it was just mega.
06:09Yeah.
06:11And is this the only thing you do, or how do you live?
06:14So, no.
06:15I actually have another job on Friday.
06:18I'm a professional psychic medium, which is quite...
06:20Professional?
06:21Psychic medium.
06:22Right.
06:23Yep, which is quite out there.
06:24I was born with it, it runs in my family, I trained for seven years,
06:27and I get my salary from my work as a psychic medium.
06:31So do you get investment today?
06:34Do I?
06:34I haven't worked, Deborah.
06:36Sometimes you don't want to know about your own stuff.
06:38How do you know it runs in your family?
06:39What is it?
06:40Well, I was born with it.
06:41Yeah.
06:41Which was not fun as a child, if I'm honest with you,
06:44because when you're a kid and you're very sensitive,
06:46you're open and you feel things all the time.
06:48But actually now, what I've learned in my training is it's off.
06:50I don't want to know.
06:51I want to know when I'm in a reading with a client,
06:53and I don't want to know when I'm not in a reading.
06:55Right.
06:55So you do have another income?
06:56Yeah, for now I have another income.
06:57So when this starts to give me enough income,
07:00that psychic mediumship will go into my own time.
07:03So you've done £100,000 worth of sales approximately in two years.
07:09But revenue this year currently is £30,000,
07:12which last year it was £7,000 at this time.
07:14So we've had a big uplift.
07:16What channel have you used for that?
07:18You know, it's so interesting.
07:19It's been 75% in person and 25% online,
07:22which is so not what I thought would happen.
07:24Honestly, when I did this, like, you know,
07:26as a beauty brand, you expect digital first.
07:27That's the way you do it.
07:28But it costs so much money to do that now when you have no budget.
07:31So I really went scrappy and I've been at every single market.
07:34And this year it's actually starting to go 50-50.
07:37So I've now seen those sales from those two years of markets
07:40turning into digital.
07:42How are you doing on social media?
07:45So this is fun.
07:47No, it's actually really good.
07:48We're 6,000 on Instagram,
07:49but it's all community organic growth.
07:51And I've really been sharing the story behind the brand.
07:54So it's very much my journey.
07:55What about TikTok? What are you doing on there?
07:58Oh, I have a love-hate relationship.
08:00Like, I'm so exhausted by social media.
08:01I've been doing it for 15 years,
08:03but I know the importance of it.
08:04I just, when you're, I just don't love it.
08:07If I'm completely honest, I know I need to do it,
08:09but I struggle.
08:10You'd be great on it.
08:10Have you got an audience on TikTok?
08:12Very small, not really.
08:14Okay.
08:14In part, the reason I say that is because I think the brand needs something,
08:20some real defining trait that's going to cause it to break out of quite a scrappy, saturated market.
08:26And you do have a story in the made with food thing.
08:33I do have to say TikTok is probably the battleground to tell those kinds of stories,
08:37of taking food and turning it into...
08:39Yeah, magic.
08:40Magic, right?
08:41I know.
08:42So it's...
08:42I need to do it.
08:43I just, when you're running everything else,
08:45it's like always the last thing on my list.
08:46And I've tried to swap it around,
08:48but then there's something happens with manufacturing or markets,
08:50or like, and I'm just like in the middle of...
08:51Yeah, it's too much for one person.
08:52It's too much.
08:56Danny, I've got two daughters,
08:58and they're at an age now where they are spending quite a bit of time...
09:01Yeah.
09:02...putting products on their face,
09:03and I don't think I would be able to go home to my two daughters
09:06and not have made you an offer because I think they would absolutely love you.
09:10Thanks.
09:11And I also have got two very good contacts in this space.
09:16OK.
09:17Erm...
09:17Stephen and Peter.
09:19Stephen.
09:20So, Stephen and Peter, would you like to come in with?
09:22I don't know.
09:24And it's not Stephen and Peter, but of course!
09:27Erm, it's not Stephen and Peter.
09:31Erm...
09:32I am going to make you an offer
09:34because the important things for me are people
09:37and passion about the product.
09:40Look, you obviously know your industry very well
09:44and you've built a career around this industry.
09:48So, I'm not going to miss out on this opportunity.
09:52So, you've asked for £50,000 for 10% of your business,
09:56but I want 20%.
09:59OK. Thank you very much. Appreciate it.
10:03So, Danny, erm...
10:05I know you know I would love everything about what you're doing.
10:08Um...
10:10What I really like is that you have come from...
10:12You've come from the industry which we all recognise needs...
10:19..needs to change.
10:20Yeah.
10:21You'll probably be aware of a business...
10:25Actually, Peter and I are invested in called Fussy.
10:28Um...
10:28And...
10:29It faced some of the challenges that you're going to face.
10:32So, it's quite a similar story that I think needs to be told.
10:37Yeah.
10:37You know, and...
10:38And we've told it Fussy very well.
10:40Very successfully.
10:43So, I...
10:45Unsurprisingly, I'm going to make you an offer.
10:48I'm going to make you the same offer you've already received.
10:51So, I'm going to offer you £50,000.
10:53But I want 20% of the business.
10:56Thank you very much.
10:57For our first joint venture, Deborah?
10:59Not sure.
11:02Wow!
11:03Deborah's never going to deal with me yet in...
11:05You'd be a good duo, I think.
11:09Keep that in mind.
11:09Yeah, I will.
11:16I'm on the fence.
11:19I think you're great.
11:21Thanks.
11:22But this is not one of my, sort of, passionate investments.
11:27So, for that reason, I wish you all the best, but I'm out.
11:40Come on, Sneaky. Come on.
11:43The cogs didn't have you two as indecisive.
11:45Yeah.
11:50Danny, well done.
11:51I really enjoyed listening to your pitch today,
11:52because you're a really good storyteller.
11:54I do think...
11:57that I am the best dragon for you.
12:00I do believe that.
12:09But I just don't see enough.
12:12Specifically in the product that I could work with as a marketeer
12:16to make it completely punch through the market.
12:20Don't you worry about it.
12:21So, for that reason, I'm going to say that I'm out.
12:23I appreciate it. Thank you.
12:26Danny, it's really interesting, because I've got a company
12:29and we take brands and place them into multiple markets all over the world.
12:32Cool.
12:32And we do all of the digital marketing.
12:34Cool.
12:35We do everything.
12:36And we work with Estée Lauder.
12:38Oh, cool.
12:38And we run all of the cosmetic store.
12:40Nice.
12:41So, this is in the wheelhouse of...
12:44That.
12:44A knowledge of exactly...
12:45You know, we sell more moisturisers online than most.
12:51And it's probably about 80, not giving anything away,
12:5480 to 90,000 dollars every couple of hours.
12:58Mm, my God.
12:59...transactionally.
13:00Yeah.
13:00And it's just really difficult not to give you an offer.
13:07Because you are everything that you want to invest in...
13:11Thanks.
13:11...as an individual.
13:13And I think you're all, you know, you're not just energetic,
13:17you're radiating, you're really good, you've got a great product.
13:21So, I'm going to make this really difficult for you,
13:24and I'm so sorry.
13:25I really am.
13:28And I know you came in and you closed the door to your medium skills.
13:33Mm.
13:33You might need those in a minute.
13:34Yeah, yeah.
13:37I'm going to offer you all of the money, 50,000, for 20% as well.
13:44Great.
13:45Thank you very much.
13:46I appreciate it.
13:49Question.
13:51I would love to work with both of you, too.
13:52Thank you so much.
13:53Sorry, I should have said that first.
13:54I'm very sorry.
13:55Thank you so much.
13:55And thank you, everyone.
13:57And I would love to work with you, too.
13:59100%.
13:59The energy is just amazing.
14:02Would you be open to going...
14:04Yours is too.
14:05Totally, totally.
14:06For just...
14:07Yes.
14:08Ours is better.
14:08Your energy is better.
14:10Yeah.
14:10It's just...
14:11It's just...
14:13You're a very good psychic.
14:14You know.
14:15I am.
14:17Erm...
14:17I'm not sure she is.
14:18That's why she only works one day a week.
14:20I'm sorry.
14:20I'm sorry.
14:23Would you be open to negotiating down a little bit to 15% and splitting it between you both?
14:34I'd be very happy to share it.
14:36Erm...
14:36But I'm not sure...
14:37I'm not sure about bringing the equity down, to be perfectly honest.
14:42I'm going to be led by Deborah on this.
14:45Okay.
14:46I just feel like at 10% each, you're gonna get the attention.
14:50Yeah, you're right.
14:51You know.
14:51And I think as it drops away from that...
14:53Yes, you're right.
14:54So I think it would need to be at 20%.
15:00Okay.
15:01Deal.
15:02Done.
15:03Yay!
15:04Excellent.
15:05I am so pleased.
15:08I appreciate it.
15:09Thank you so much.
15:10Danny has done it.
15:12Hi, everyone.
15:14She leaves the den with £50,000.
15:19And the backing of a dragon duo, whose combined energy was sufficient to get her sixth sense sizzling.
15:29Oh, I'm exhausted.
15:30It was good.
15:31It was amazing.
15:33Oh, my God.
15:34I'm just so psyched I got Gary and Deborah.
15:36How amazing.
15:38I don't know what to say.
15:40Even I'm wondering why she chose an ex-right back over a beauty king.
15:43How could you turn me down like that?
15:46I just think that's wrong.
15:47I don't know what to say.
16:03Here we go.
16:05Oh, my God.
16:06There they are.
16:07My name's Ben Reeves.
16:09I'm here with my wife Natalia.
16:10Yeah.
16:10And we are co-founders of Swish.
16:14Oh, my God.
16:16Yes.
16:18Thank you, Lord.
16:19I've been waiting for a golf one.
16:21What is it, Peter?
16:22I don't know, but it's just good that it's golf.
16:27We would love to have Peter Jones on board.
16:30He's an avid golfer, so he shares the same passion as us.
16:32And Gary, too, as we know that he plays golf.
16:36Although we wouldn't rule out any dragon,
16:39because they will have the expertise that we want.
16:48Hello, Dragons.
16:49My name is Ben Reeves.
16:50I'm here today with my lovely wife Natalia.
16:52We are co-founders of Swish, the portable golf ball cleaner.
16:56Dragons, imagine this.
16:58You step up to make a crucial part where your golf ball is covered in dirt.
17:02A dirty golf ball can mean less accuracy, less control,
17:06and potentially a lost game.
17:09Gophers know the struggle,
17:10but we found that existing cleaning methods are inconvenient and ineffective.
17:15That's why we created Swish.
17:18On the course, many golfers resort to wet towel on their back,
17:23a spit, which is not ideal,
17:26or static golf ball washer like this one here on the next hole.
17:31In our experience, these are dry and smelly due to lack of maintenance.
17:37Swish is a compact, lightweight, and easy-to-use device that cleans your balls in seconds.
17:45Just pop it open.
17:46Pre-wet the sponges.
17:48Pop your dirty ball in.
17:50Give it a few swishes.
17:55Dry it.
17:58And it comes out spotless, ready for the perfect shot.
18:02There are over 66 million golfers worldwide.
18:05We're here today asking for an £80,000 investment for 10% equity.
18:10Thank you for listening, and we welcome any questions that you have.
18:16A portable device for cleaning golf balls is the offering from Ben and Natalia Reeves.
18:22Have you got any dirty golf balls?
18:24We do, Gary, yes.
18:27That's something you weren't expecting to say today, wasn't it?
18:31The couple are seeking £80,000 in exchange for a 10% share in their business.
18:39Self-confessed golf nut Peter Jones is first with the questions.
18:48I've been waiting for, I've literally been waiting for having a golf product in the den.
18:53I love golf.
18:54We know.
18:55So it is an issue when you, you know, you're picking a ball up on the green, you want it
19:01cleaned.
19:01I typically would do, I'd do the spit thing and put it in the pocket and play with my ball
19:07in the pocket.
19:09Natalia's face when you said that.
19:10No, no, it's not great, but it does work.
19:13And I think that's the thing.
19:14OK.
19:15So I think that you've got an interesting product.
19:18It's the size of the opportunity, I think, here that we're really looking at.
19:22And how many people would really want to buy one?
19:26Because I do think that you've entered a more niche novelty product.
19:31OK.
19:32Rather than a mainstream product.
19:34We've used it now for two years.
19:36Yeah.
19:37And it's so easy to clean the ball.
19:40And like Natalia referred to, the method of the wet towel and any other method of spitting is just something
19:47that...
19:47Yeah.
19:48It's gross.
19:50Ben and Natalia.
19:52Yes.
19:52So your business, is it pre-revenue?
19:55No, we're trading.
19:56How long have you been trading?
19:5818 months.
19:59So give us some numbers on the 18 months.
20:02OK.
20:02So in the first year, we sold for £158,000.
20:07Gross profit?
20:08Gross profit, £92,000.
20:11Yeah.
20:12And net profit was £23,000.
20:14All right.
20:15Yeah.
20:15So the next six months?
20:18Next year, our prediction, which...
20:20That was the first 12 months?
20:22That was the first 12 months, yeah.
20:23That was the first 12 months, yeah.
20:23You said it was 18 months.
20:24So what's the next six months?
20:24So within the first pretty much five, six months, we haven't sold any.
20:31Any?
20:31Why?
20:32Because everything we did was organic.
20:34Everything we've traded...
20:36Yeah.
20:36How we've traded so far is with an iPhone and our dining room table.
20:41We pack, we distribute everything.
20:43Right, right.
20:43So far.
20:44OK.
20:44You've not really gone to any retail?
20:46No.
20:47No.
20:49Right.
20:49So how much did it cost to make?
20:51So it was around £7.
20:53Yeah.
20:53And how much is that so far?
20:55£29.99.
20:57Chinese?
20:59Production?
20:59No.
21:00No, UK production.
21:01UK.
21:02Right.
21:03And how much did you pay for the mould?
21:06£25,000.
21:06£25,000.
21:07Pounds?
21:08Yes.
21:09I'm looking at the cost.
21:10Yes.
21:11And I'm saying, how can you reduce cost?
21:13Because I think it should be retail-wise under £20.
21:18Great to be manufactured in the UK.
21:20Yeah.
21:21But I would imagine that if you invest $5,000 to $10,000 in a mould,
21:25the product will cost you $2, $3 approximately.
21:30This is exactly what we are looking for in a dragon.
21:33Right.
21:34So I can deliver that.
21:37OK.
21:40Ben, Natalya.
21:41Yes.
21:41What did you come to the den looking for today?
21:46Oh, this has been a five-year journey for us.
21:51It's tested us.
21:53I think when you become an entrepreneur, it tests every aspect of you.
22:00We've taken it to a stage now where we get messages from all over the world asking when we were
22:07supplied to this country because they want Swish.
22:11I can only commend you.
22:18I am a big fan of you guys, but I just don't play golf.
22:26And so I almost can't conceptualise a bunch of things about this business.
22:32So, um, regrettably, I'm going to say that I'm out.
22:36But, um, congratulations.
22:42So, the more I've heard, the more I've realised I don't know anything about golf.
22:49But, um, this feels like a really neat solution.
22:53And I even love the, look, look, look, look at that.
22:56Yeah.
22:57And your eyes.
22:58Look, my eyes always smooth.
22:59You can see it from here.
23:00Always smooth.
23:02Um, but it just isn't my thing.
23:04That's fine.
23:05That's fine.
23:05I kind of want it to be my thing, but it's not my thing.
23:08So, um, I won't be investing, but I really wish you all the best.
23:11Thank you very much.
23:12I'm out.
23:15So, I started playing golf when I was probably about eight or nine.
23:19Went and bought one club and used to play with my brother quite a lot.
23:22Got to love the game.
23:24But on the product itself, obviously, this cleans the golf ball.
23:29But one of the bigger problems, I think, for golfers is when your club actually gets dirt and mud in
23:35it.
23:35Yeah.
23:36Is there any way in which you could expand the product to be able to include the cleaning of the
23:42club?
23:43Because I think that's a bigger problem.
23:44Yeah.
23:45So, we have sold in the past a brush that cleans the grooves.
23:50Almost like a wire brush, you mean?
23:51Yeah.
23:52Personally, from our golfing point of view, we don't think that there's a better way than that.
23:58Okay.
23:59Because I think Peter hit the nail on the head in terms of it's quite a niche product and it's
24:04the scale of the opportunity.
24:05You said there's, I think, 66 million golfers globally.
24:09Yes, golfers globally.
24:1166 million golfers and everyone has to clean their golf balls.
24:15But I think I get, I get what you've got.
24:18Um, it's just the size of how big could this really be.
24:22Okay.
24:23In an already fairly small market.
24:25Okay.
24:25Um, but do you know what?
24:27Gary's just, he's just said something there.
24:30And I was just looking at this, you know, like Pac-Man.
24:32Mm-hmm.
24:34Goes along.
24:35But if you could decide it in such a way that the club itself, like this club here, could actually,
24:44when you hit your ball, could actually go in.
24:47Clean your club, put your bag back in the room, and you've got, you've got a dual use for it.
24:52I think he could have, that's, I mean, maybe we should bring that out, Gary.
24:58Do you want me to invest?
24:59Yeah.
25:03Being a golfer, I do think there's an element of multi-use here.
25:07And I think it's really worth exploring.
25:10Um, I also think you need to get it out there.
25:14And that's the other thing.
25:15Um, and I think that's what Gary as well could be very impactful because people do trust, you know, very
25:23well known, but incredibly well respected sports athletes.
25:27And he's one of the best, right?
25:28So that combination as well, there could be something here.
25:32I think Tuka is brilliant.
25:35He knows exactly where to do these types of products, where to get them.
25:38And I think that the combination here is that with the three of us that are left in, I think
25:43this could be a really good opportunity.
25:46I also think you need a bit more money.
25:49So I would like to throw a bit of a curve ball and suggest that perhaps we go in together,
25:54three dragons, but we give you a bit more money.
25:57Okay.
26:00Okay.
26:00So you asked for £80,000 for 10%.
26:03I would offer you £30,000 for the 10%.
26:07Okay.
26:08Okay.
26:10So ultimately, if that would mean an offer from everybody of £90,000 and you'd give away 30% of
26:16the company, but you'd have three dragons if Gary and Tuka would be interested.
26:22Okay.
26:26There is quite a few things that I like about this.
26:29One, it's obviously in the sporting arena.
26:33Two, I do think there is a problem with cleaning your golf ball and your golf clubs when you're playing.
26:42So I will offer you £30,000 for 10% as well.
26:51I'll tell you where I am, guys.
26:54I like it.
26:58So, I will offer you £30,000 for 10% too.
27:10Thank you very much for your time today, dragons.
27:13We are delighted to say we would love to take your offer.
27:16Yay!
27:19Actually, I'm sure we'll make this work.
27:21An amazing outcome for Ben and Natalia.
27:25Bye.
27:26Who leave the den with £90,000 and the backing of a trio of dragons with the expertise to get
27:34their product into the hands of even more golfers around the globe.
27:39Get in!
27:43Absolutely ecstatic.
27:45It means a world to us.
27:47Yeah, we came.
27:47Over the moon.
27:48And to get those three dragons was kind of the plan.
27:52So, that was just incredible.
28:09I'm Janesh.
28:10I'm the CEO of Spryve.
28:12I've watched Dragon's Den since I was in my 20s.
28:15So, to be here now is just a really kind of surreal experience.
28:23It's like my trip to Blackpool in 1985.
28:29It does look like very old stuff, doesn't it?
28:32Retro.
28:32If it's not, you're going to feel so bad.
28:39I really feel very passionate about the problem that we're solving.
28:42I just feel like I just want to get in there and just tell the dragons about my business.
28:47And I just really hope they like it.
28:49Indeed.
28:59Thank you for spending so much!
29:00Hi, dragons.
29:00I'm Janesh, and I'm the CEO of Spryve.
29:03We're a free app that helps homeowners pay off their mortgages faster
29:06and save interest just by doing the everyday shopping.
29:09And today, I'm asking for £50,000 in exchange for a 2% stake in the business.
29:15The idea for Sprive comes from my own mortgage journey.
29:1812 years ago, my wife and I bought our first home.
29:20And I vividly remember seeing the mortgage offer document
29:23and it's saying for every £1 we borrowed,
29:25we'd pay 50p in interest over the lifetime of the mortgage.
29:29That meant we'd be paying over £150,000 in interest,
29:33money that I'd rather spend towards my family's future.
29:36And that's why I created the Sprive app.
29:39Imagine being able to put just an extra £25 a month towards your mortgage
29:43just by doing your everyday shopping.
29:44Your morning coffee, the weekly shop, booking a holiday,
29:48even that cheeky takeaway.
29:50It might not sound like much, but over time, it adds up
29:52and it can save you thousands of pounds in interest
29:55and knock years off your mortgage.
29:57And with just one tap using the Sprive app,
30:00that money goes straight to your mortgage lender.
30:03Right now, we support 14 of the UK's largest lenders.
30:06We work with over 85 brands
30:08and we're helping over 20,000 homeowners.
30:11If I can show you a quick demo so you can see how the app works,
30:14that would be much appreciated.
30:18An app that lets users overpay their mortgages
30:22is the offering from Janesh Vora.
30:26Imagine I've done a £100 shop at my local supermarket.
30:29I hit swipe to pay.
30:31I then scan the barcode at checkout.
30:34That pays for the shop.
30:36Janesh is seeking £50,000 in exchange for 2% of his company.
30:41We take commission and within 15 minutes,
30:44you earn money towards your mortgage,
30:45which you can pay to your lender with just one tap.
30:48So, can a business designed to save its customers money
30:51entice the dragons into parting with theirs?
30:57Janesh, is this a product that can be layered
31:00with other offers when you're shopping?
31:03Sure.
31:04So, for example, whether it's your cup of coffee,
31:07your grocery shopping,
31:08you can essentially, all the shopping you do,
31:10you just do it as normal,
31:11whether it's online or in-store.
31:13Sorry, by layered, I meant, so you go into a store.
31:16Yeah.
31:17You've got two for, three for twos.
31:21Discounts.
31:21Yeah, yeah.
31:22And often, you can only use one of those offers.
31:25So, is this one that can be layered,
31:27lots of different offers, and you can still...
31:29So, you can get all your, like, points
31:31or all your discounts,
31:32and then you still get the benefit of money
31:34towards your mortgage on every single shop.
31:36And how do you make your money?
31:38So, we make money in two ways.
31:40We make money when people shop through the app,
31:42and we also make money when people remortgage through the app.
31:44So, we also have a feature, which I didn't mention,
31:46where we scan the market every day for better mortgage deals.
31:49Every time someone switches on the remortgaging side,
31:52it depends really on the mortgage balance,
31:53but if you had a £200,000 mortgage
31:55and we switch someone from lender A to lender B,
31:58we can end up to, like, £750 in commission.
32:01And then on the shopping side of things,
32:03we typically, on an annualised basis,
32:05our gross profit is around £48 per user.
32:08Okay, so you're existing.
32:10Tell me your biggest customer at the moment.
32:13So, we work with, like, Amazon,
32:15we work with Tesco's, Asda, Sainsbury's, Morrison's,
32:18M&S, Waitrose, Iceland, John Lewis, Primark, Boots,
32:21all the brands that we'd like to support.
32:24So, I'm fascinated.
32:25You seem to have quite a big exposure.
32:29Why have I never heard of you?
32:32Well, we've not really been focused
32:33on growing customer numbers.
32:35We've really been trying to...
32:36Sorry, did you just say to me
32:37you've not really focused on growing the customer numbers?
32:39Yeah, and there's a reason for that.
32:40With an app like mine,
32:41it's really important.
32:42As you grow customers,
32:44there was a position where we were, like,
32:46each customer's costing me more money
32:48to be on the platform
32:49than the money I was making.
32:50And so, I made a conscious effort
32:52to, like, really focus on
32:53making sure every new incremental customer
32:55would make us money.
32:56And we're now in that position.
32:57So, we've got to 20,000 homeowners,
32:59but there's millions of people with mortgages,
33:02and who wouldn't want to pay off
33:02their mortgage faster than saving?
33:04Last question from me for a minute.
33:05Are you making any money?
33:07So, we're not profitable.
33:09We need to get 40,000 people
33:11shopping through our app,
33:12and we break even.
33:13And how much are you losing at the moment?
33:15So, in last year,
33:17we had a net loss of £565,000.
33:20£565,000.
33:21Five?
33:22£565,000.
33:23And what's your net loss,
33:24monthly net loss at the moment?
33:25So, we typically lose about
33:28£30,000, £35,000.
33:31You said you had
33:3120,000 homeowners already
33:34That's right.
33:34locked in.
33:35And you've also said to Debra
33:36that you weren't looking
33:37to grow your audience,
33:38but you've got half of...
33:39You said you wanted 40,000.
33:40Is that right?
33:41So, 40,000 new shoppers.
33:43OK, so you only get to 60,000.
33:45So, I only get to 60,000.
33:46That's correct.
33:47And there's one thing
33:47you should be aware of.
33:48So, when we first started,
33:49we didn't have the shopping feature.
33:51We literally had a feature.
33:52It was like an auto-savings feature
33:53where you screw away spare cash.
33:55So, about just under 15,000 people
33:58use our app
33:58just to screw away spare cash
34:00and be able to make
34:02one-tap payments,
34:03like overpayments
34:03via their lender.
34:04What's your background
34:05to get into this?
34:06I used to work
34:07in financial services,
34:08so I spent the first...
34:08Oh, you might have done.
34:09Huh?
34:10It's quite complex.
34:11Yeah.
34:12For me, straight away,
34:13and I think about
34:13rewards, points,
34:16all these sort of
34:17discount-type things,
34:18I always feel like
34:19it's about trust.
34:22For me, it's trust,
34:22and particularly when you link it
34:23to your mortgage.
34:24Sure.
34:25Trust is everything
34:25in financial services.
34:28Janash,
34:28I always get a little bit
34:31suspicious when
34:32I hear what you said to Deborah,
34:33which is we've not tried
34:35to acquire customers yet.
34:36Well, 20,000 is still,
34:37I think, okay.
34:38And how much is it costing you
34:40to acquire a customer?
34:41So, at the moment,
34:41we've done very little paid ads
34:43to acquire customers.
34:44It's all been mostly
34:44word of mouth.
34:45You're not answering questions, Janash.
34:47Huh?
34:48But specifically,
34:49we just started in paid ads
34:51last month,
34:51and the initial
34:53kind of cost per acquisition
34:54on paid ads
34:55has been about £20.
34:56And how much money
34:57have you raised?
34:58So, we initially raised
35:00£230,000 when we had nothing.
35:02We built the first version
35:02of the app
35:03using that cash.
35:05We then raised
35:06£1.45 million,
35:08and now we're in a position
35:09where we just last month
35:11raised £2.5 million
35:12in cash,
35:14and we're using that
35:15to grow the business.
35:16Okay.
35:17Josh, I'm going to...
35:18This is a very quick one for me,
35:19because I've looked
35:22at a bunch of businesses
35:23that offer different
35:23sort of shopping
35:24cashback mechanics
35:25over the last couple of years,
35:27and it's one of the big
35:28challenges with this business
35:29is going to be acquiring
35:30customers cost-effectively.
35:32And I think the...
35:34I think you said £20
35:35to acquire a customer
35:36for this proposition.
35:38I think even that's
35:40going to come under pressure.
35:41We only need £40,000
35:43to break even,
35:44and now I've got
35:45£2.5 million,
35:45to grow our user base.
35:47So you need £40,000 now,
35:48but your company's going to grow,
35:49and so you're going
35:50to need more money,
35:50and the acquisition costs
35:52are going to change,
35:53especially as you scale,
35:54spend acquisition
35:55gets more expensive.
35:56Yeah, sure.
35:56So I'm going to say
35:57that I'm out,
35:58but I wish you
35:58the very, very best.
35:59Sure.
36:01Jinesh,
36:02who has invested
36:04£4 million?
36:04It's really impressive
36:05to have raised that
36:08scale of money.
36:08The latest investment,
36:11which is like
36:11the £2.5 million,
36:12was led by
36:13one of the top
36:14fintech investors
36:14in the UK.
36:16Why do you need
36:17anybody here
36:17if you're raising
36:18£2.5 million
36:20from an institutional investor
36:21who's going to bring
36:22their intelligence
36:22and their network?
36:23Yeah, because
36:24to Stephen's point,
36:25acquiring customers
36:26is the biggest challenge,
36:27and what I would say
36:28about all five of you here
36:29is that people
36:30around the UK
36:31trust you
36:31when it comes to money.
36:32So you've raised
36:33£4 million,
36:34you're coming in here
36:35for £50,000
36:37purely to add trust.
36:39To know for business strategy,
36:41your network,
36:42and to help me
36:43spread the word.
36:45I think that's the perfect time
36:46really for me
36:47to sort of say
36:48where am I?
36:48Because I think
36:49you've done
36:49some incredible things,
36:50raising £4 million
36:50for a start-up,
36:52and you're really
36:53passionate about
36:54your business,
36:54but that's one
36:55of the most important
36:56things for me
36:56that I have to be
36:57passionate about
36:58what I invest in.
36:59Sure.
36:59And I always feel
37:01like points,
37:02rewards,
37:02is a little bit
37:03of a dark art
37:04in terms of
37:04sort of the element
37:06of trust
37:06that we've spoken
37:07about before.
37:08It also frightens me
37:09to death
37:09that you've got
37:10a cash burn
37:10of £35,000 a month.
37:13So unfortunately
37:14I won't be investing,
37:15I'm out.
37:15Well thank you for listening.
37:18Jinesh, hi.
37:20You've just raised
37:21£2.5 million.
37:22Sure.
37:23And you're burning
37:23£35,000 a month.
37:24Yes.
37:25Your statement was
37:26that you needed
37:27£40,000 more customers.
37:29and they're £20
37:31to acquire a customer.
37:32Sure.
37:33So why would you
37:34not just spend
37:34£800,000 of the £2.5 million,
37:36immediately take
37:37the business
37:37to break even
37:38and then stop that burn
37:39and grow it from there?
37:41Yeah, it's a good point
37:42and that's why
37:42I won a dragon.
37:43I mean,
37:43I was in the corporate world
37:46working in financial services.
37:47I've never built
37:49a brand
37:50and I have an aspiration
37:51to help millions of people
37:52across the UK
37:53and this feedback
37:54is really good
37:54so I appreciate it.
37:55No, no, Jinesh,
37:56I think it's really,
37:58really interesting
37:58in terms of the fact
38:00that I feel like
38:01you've done really well,
38:03higher than my expectation.
38:05Raised the money.
38:06Yes.
38:06Yeah, like you've raised
38:08£230,000,
38:09£1.45,000,
38:10now another £2.5,000.
38:11Sure.
38:11You've got 20,000 customers.
38:14It's clearly working
38:15as a business.
38:16What's the level
38:18of interaction
38:18against those
38:1920,000 customers
38:20at the moment
38:21on average
38:21every single week?
38:22So when I say
38:23active users,
38:24I'm talking about
38:24all 20,000
38:25and I'm using the app
38:26every year.
38:27So everybody,
38:27100%?
38:28Right.
38:30This is for me,
38:32this.
38:33This has got me
38:34written all over it.
38:36I think I could
38:38really help you here.
38:40OK.
38:43I'm going to make you
38:44an offer.
38:44OK, I'm listening.
38:45I'm going to offer you
38:46£50,000.
38:47Yeah.
38:49But I'd like
38:505% of the business.
38:52OK.
38:58And so I'll tell you
38:59what I'm going to do.
39:03I will give you
39:04the £50,000 for 5%.
39:06Yeah.
39:07But I would share it
39:08with Peter on the basis
39:09if he wants to share it.
39:10Sure.
39:10Because I think
39:11between us,
39:13we would add value.
39:14So I would offer you
39:15£50,000 for all of the money.
39:17Yeah.
39:17But I would be willing
39:19if Peter accepts
39:20to share with Peter.
39:21Yeah.
39:22That's £25,000
39:23for 2.5%.
39:24Yeah.
39:25And I'd even win.
39:26OK.
39:27Brilliant.
39:30Do you want to think
39:31or do you want to...
39:31No, he hasn't heard
39:32from me yet.
39:33Oh, OK.
39:33I don't know who's going to.
39:34I've got you.
39:34Go on.
39:36So I...
39:37You're clearly very good.
39:41I really like
39:42what you're doing.
39:43I like that you come
39:44from a financial services
39:46background
39:47because that gives me
39:48the confidence
39:49that there'll be
39:50an integrity
39:50to what you're doing
39:51because you know
39:52what you're doing.
39:53Yeah.
39:53So I really like
39:56what you're doing
39:56and I'm going to make
39:57you an offer too.
39:58So I am going to offer
39:59you all of the money.
40:00OK.
40:02For 4%.
40:03OK.
40:04Oh, I think.
40:05OK.
40:05Thank you so much.
40:06It's a really,
40:07really generous offer.
40:10So I just want to ask
40:11like Peter and Tuca,
40:12is there any way
40:13you would do
40:1450,000
40:15for 4%
40:17between the two of you?
40:18I just want to
40:19have more information
40:20before I make a decision
40:21if that's OK.
40:24And if we said
40:25and we accepted that,
40:27would that be
40:27a deal done?
40:31Two dragons,
40:31unfortunately,
40:32are better than one.
40:33Hopefully you don't
40:33take offence.
40:34That would be
40:34the deal done, yeah.
40:39I'd accept that.
40:40Would I accept that?
40:42What you could have
40:42asked, of course,
40:43is whether or not
40:44I would have shared.
40:46Is that, actually,
40:47that would be,
40:48I mean, if I get
40:48three dragons,
40:49that would be
40:49absolutely amazing.
40:51Well, you need
40:52to take control now.
40:53If you want to find
40:54out all of your options,
40:55you really ought
40:56to ask the question.
40:59I'll tell you what,
40:59I would accept 2%
41:01for half the money.
41:03Yeah.
41:04If you want
41:05three dragons,
41:06you'll split 5%.
41:08Because the power
41:09of three dragons
41:10and the three dragons
41:10you've got,
41:11that's pretty serious.
41:17Yeah, I'll take that.
41:19Yeah?
41:19Yeah, 50,000.
41:20If everyone's happy
41:22with that.
41:22I would be genuinely
41:23happy with that.
41:24That's 5%
41:25and you've got three dragons.
41:27That would be
41:2750,000 down.
41:28Amazing, is that?
41:28Right.
41:28Is this really happening?
41:29Aren't you glad
41:30I am to be?
41:30Well done, Deborah.
41:32Thank you so much.
41:33Well done.
41:35Joy for Jinesh.
41:36Lucky man.
41:37Thank you so much.
41:38Well done, partner.
41:39Well done.
41:39I don't know why
41:40we're shaking hands.
41:41We're always hugging.
41:42Well done.
41:43Thank you so much.
41:46Who leaves the den
41:47with 50,000 pounds
41:49and the backing
41:51of three dragons
41:52with the contacts
41:53and credibility
41:54to accelerate his app.
41:58I feel amazing.
42:00Like I'd never
42:00in my wildest dream
42:01thought that I'd
42:02get three dragons
42:02so I'm just
42:04over the moon.
42:05Going to have a beer
42:06tonight.
42:09I think we might
42:10have been a little bit
42:10naive there going
42:11out that early.
42:13Don't feel bad
42:13about it
42:14because if that ends
42:15up being the next
42:15sort of PayPal
42:16for, can you imagine?
42:36Next in the den
42:38are Tina and Ollie
42:40who found love
42:41then founded
42:43their business.
42:43We got married
42:44in September 2023
42:46and then about
42:47four or five months
42:48after we got married
42:48we launched our business
42:49and we haven't looked
42:51back in sort of
42:51a year and a half.
42:55What is that ball?
42:58That looks like
42:59a falafel, no?
43:00What is falafel?
43:01Oh, it does smell nice.
43:03Come on in,
43:03I'm hungry.
43:07We got this.
43:08I love you.
43:09Well, I came up
43:10with an idea one evening.
43:11Inside the factory
43:12was on TV
43:13and it was about
43:14a bathroom factory
43:15and it was like
43:15a light bulb moment
43:16and yeah,
43:17that's kind of
43:17how Flavor Bombs started.
43:20Love you.
43:21Love you.
43:32Hello Dragons.
43:33My name is Tina
43:34Fagihi Hallam.
43:34And my name's Ollie Hallam.
43:35And we're the founders
43:36of Flavor Bombs.
43:38We're asking
43:38for £50,000
43:39for a 10% equity
43:41in our business.
43:42Have I been lucky enough
43:43to travel to some
43:44wonderful places
43:45around the world,
43:46I've had the pleasure
43:47of eating and recreating
43:48some fantastic dishes
43:49over the years.
43:50However,
43:51a lot of them
43:51were quite time-consuming
43:52to make
43:53and they required
43:54a plethora of ingredients
43:55that were not always
43:56easily accessible.
43:57I really wanted to change this
43:58so Flavor Bombs was born.
44:00Each Flavor Bomb contains
44:02all the ingredients needed
44:03to help you make
44:04an incredible curry,
44:05a Vietnamese broth,
44:06a sauce or a Mexican
44:07birre consomme
44:08filled with high quality
44:10herbs, spices,
44:12garlic, onion,
44:13tomato and more
44:13all perfectly portioned
44:15and blended
44:15into a delicious globe.
44:19As demonstrated,
44:22all you need to do
44:24is drop one of our
44:25Flavor Bombs
44:25into a pan with water,
44:27add your protein
44:28or veggies of choice,
44:31stir and enjoy.
44:35It's like a bath bomb
44:37for your saucepan.
44:38We launched in February
44:402024
44:40and the response
44:41blew us away.
44:43Within weeks,
44:44we had interest
44:44from a major retailer,
44:46an international distributor
44:47and we exploded
44:49onto TikTok
44:50with our videos
44:51now having over
44:51three and a half million views.
44:54Just shy of our
44:55first year anniversary,
44:56we hit an incredible milestone
44:57of £100,000 in turnover.
45:00Now, with your investment,
45:02we want to scale
45:03and bring Flavor Bombs
45:04to every kitchen,
45:05every table
45:07and every heart
45:08that beats for the love of food.
45:10We would love for you
45:12to sample a couple
45:13of our Flavor Bombs.
45:15A range of ready-made
45:17meal bases
45:18in globe form,
45:19inspired by
45:20different world cuisines,
45:22is the proposal
45:23from Tina Fagihi-Hallam
45:24and husband Ollie.
45:27We have
45:28birria tacos for you
45:29and also our
45:30Guyanese coconut curry.
45:32The pair are seeking
45:34£50,000
45:35for a 10% share
45:37in their company.
45:38That's really...
45:39That's lovely.
45:40They've succeeded
45:41in tantalising taste buds,
45:43but will the dragons
45:44find the business opportunity
45:47equally appetising.
45:50Tina.
45:51Yes.
45:52Ollie.
45:52Is it Mr and Mrs Hallam?
45:54Yes.
45:54It is.
45:55How did you guys meet?
45:57A very traditional way
45:58of online
45:58a few years ago.
46:00And you started
46:00the business together?
46:01We did.
46:02And what are your
46:03professional backgrounds?
46:04So, do you want to go fast?
46:05I'm actually from
46:06the film industry background,
46:07so I'm a focus blur,
46:08head up team
46:09of camera assistants
46:10and, yeah,
46:11look after that side
46:12of things.
46:13And I've been working
46:14in tech for the past
46:1512 years,
46:16and I've led
46:16sort of global teams
46:17and start-ups
46:18for the past
46:19seven or eight years now,
46:20so the start-up world
46:20is something
46:21I'm quite familiar with.
46:23And what is...
46:24In terms of the financials
46:25of the business,
46:26you started in February 24.
46:27Yeah.
46:28So you've got roughly
46:29a year's worth of trading?
46:30Yeah.
46:30Yes.
46:30Can you run me through
46:31what you said
46:31100k revenue?
46:32Yeah, so it's actually
46:33105,000 turnover.
46:35That was a gross
46:36of 56,000
46:37with a net of 30,000.
46:39Yeah, 30,000.
46:40OK.
46:41And what are you
46:41forecasting for this year?
46:42So 2025,
46:43we're actually due
46:44to turnover 200,000
46:46with a gross of 105
46:48and a net of 60,000.
46:51And your sales are
46:52predominantly through
46:52your website at the moment?
46:5450% through our website,
46:55the rest through
46:56Amazon and TikTok.
46:57OK.
46:59Tina, Ollie, hi.
47:01Hi.
47:01So, 100,000
47:04and going to 200,000.
47:06This seems really,
47:07really forecasting
47:08at a low level.
47:10Why...
47:11Why has that
47:12not gone very well?
47:14I think it was
47:15quite conservative
47:16because we want
47:18to get into retailers,
47:19we want to have
47:19conversations with them.
47:20So we moved into a unit
47:22a couple of months ago,
47:23but we haven't got our
47:24BRC or sales accreditation yet.
47:26For food hygiene.
47:27For food hygiene.
47:27So that we can go
47:28into those big retailers.
47:30But we also didn't
47:30want to come here
47:31and say,
47:31we're going to hit
47:32500,000 next year.
47:33But we're like,
47:33well, how?
47:34So we haven't forecast
47:36fully for what the
47:37section...
47:38This is what I'm asking
47:38is who have you
47:39set in front of?
47:40I mean, for example,
47:40everybody knows
47:41Levi Roots.
47:41That's quite one thing.
47:42But the opening order
47:44that I negotiated
47:45just with that,
47:46just as a trial,
47:47was £170,000.
47:48We haven't had those
47:49conversations yet.
47:50Well, he's not
47:50sat in front of anyone.
47:52No, we haven't yet.
47:53Because we didn't want
47:54to burn any opportunities
47:54because we haven't
47:55got that accreditation.
47:57On the unit you're in now,
47:59what's the capacity
48:00per week?
48:02So currently,
48:03with the one machine
48:04we have,
48:04it's about
48:06about £2,000 a week.
48:08So in the short term,
48:10your maximum
48:11that you can produce,
48:13you would turn over
48:15about...
48:16About £200,000.
48:17So what would be
48:18your gross profit?
48:19It's about 53%.
48:20So you're talking
48:21about £105,000?
48:23Yeah.
48:24And how much would you
48:25spend on marketing on that?
48:27We're looking for about
48:28at least £4,000 or £5,000
48:30a month.
48:31A month?
48:32A month, yeah.
48:32So that's about
48:34£60,000 a year.
48:36So you've gone
48:37from £100,000 down to £40,000.
48:40Yeah.
48:41Right?
48:41And what about
48:41your overheads?
48:43If you go flat out,
48:45you will probably
48:46lose £100,000,
48:47£150,000.
48:51Honestly,
48:52I think you're great.
48:53Don't get me wrong.
48:53But you've come in here
48:55unprepared in what it costs
48:57to launch a product
48:59like this in the open world.
49:01£50,000 won't go far.
49:03No, we won't.
49:04But we're not oblivious.
49:06OK, maybe the forecast
49:08we put for certain things,
49:09we were a little bit naive.
49:10But I know, for example,
49:11getting a listing
49:12is not the hardest part.
49:14It's doing the marketing
49:15and driving the customers
49:16to that retailer.
49:17So we do need to have
49:19more of a marketing push.
49:20That goes money.
49:24That tasted really good.
49:26Oh, thank you so much.
49:27So that's the most important thing
49:28when you're creating
49:29a food product
49:30is does it actually
49:30taste good?
49:31And it does.
49:33How much have you invested
49:34in this business?
49:35I mean, literally 300 quid
49:37at the start
49:38and then everything else
49:39has been through
49:39profits from the business.
49:40Yeah.
49:41So explain that a bit.
49:42£300,
49:43how have you invested?
49:44So how did you get
49:45your manufacturing,
49:47your space
49:48to be able to make it
49:49for £300?
49:50How have you just
49:51invested £300?
49:52It was all,
49:52well, it started in our apartment
49:54so it was, you know,
49:5550 quid's worth of spices.
49:57I did all the designing
49:58of the website
49:59and the labels
50:00and everything
50:00ourselves,
50:01like myself.
50:03And that was about it.
50:04We just launched on TikTok
50:05and we got orders,
50:07you know,
50:07100 orders
50:07in the first couple of days
50:08from our first video
50:10which I think had
50:10about 300,000 views.
50:12Yeah, I put everything
50:12back into the business.
50:13Because when Tuka said
50:14that you'd come in
50:14underprepared,
50:15I'd not read you
50:16as being underprepared
50:17as entrepreneurs.
50:18I think you're really
50:19careful and cautious.
50:20I think you're managing
50:21your business
50:22so that you're not
50:22losing lots of money.
50:24For me,
50:25I think you've built
50:25a really strong foundation
50:27of your business.
50:28That means a lot.
50:31Do you want a big business?
50:33We really want
50:34a big business.
50:35The dream is
50:36we want Flavor Bombs
50:37to be a household name.
50:38Oh, should we have
50:38a Flavor Bombs tonight,
50:39you know?
50:45It's a silence like this
50:47is usually going.
50:47It's scary, it's scary for me.
50:50Pete hasn't said anything
50:51in so long.
50:55Tina.
50:56Yes.
50:57Oli.
50:59I, this has been
50:59really interesting for me
51:00because it's quite rare
51:02in the den
51:02that you meet two entrepreneurs
51:03and you sit here
51:04and think,
51:05no, they're going to do it.
51:06But one of the things
51:07that I know
51:07is really important
51:08is that I'm excited
51:11by the category
51:12and I stayed in
51:14because I'm so excited
51:15by you two
51:16and my money
51:17would be so safe
51:18with you.
51:20But I'm not sure
51:21if I'm looking for safe
51:23and I know
51:24I'm looking for excitement
51:25and because I don't have
51:26that level of excitement
51:27for this,
51:28I'm going to say
51:29that I'm out.
51:34Tina, Oli,
51:35I've tasted it
51:37and it's,
51:38without doubt,
51:39it passes the taste test.
51:41It's really, really good.
51:45I'm sitting
51:45and the reason
51:47why I've been
51:47sort of quite quiet
51:48is
51:52I'd have to say,
51:53I know this market
51:54better than anybody
51:55and I do feel like
51:57it's really, really challenging
51:58and I'm sitting here
52:01thinking
52:03the level of investment
52:05I think
52:05that this might need
52:07to make it
52:08really successful
52:09which then means
52:10how does that
52:11then potentially look
52:12for some sort
52:13of dilution?
52:16But what got me
52:17was when you said
52:18you want a big business.
52:20It was a great question
52:21from Gary
52:24and I think
52:25it could be big
52:26if you get this right.
52:29I also think
52:30that
52:31Oli,
52:31I think
52:31you can just
52:33carry on being
52:33a camera guy.
52:36Yeah, well.
52:37Come on,
52:38work for me, Oli.
52:39I'm being really
52:40straight here.
52:41I think
52:41your support
52:42of Tina
52:43is fantastic.
52:45Every time we talk
52:46you keep looking
52:47to her.
52:47you are
52:48an incredibly
52:49supportive human
52:50and you're
52:51almost looking
52:52at her
52:52in a very proud
52:53way.
52:55Don't you
52:55just set me off
52:56of that.
52:56Whenever we were
52:56talking,
52:57getting compliments,
52:58he's looking
52:58to you, Tina.
53:02So I'm
53:03going to make
53:03you an offer.
53:07But it does
53:07come at a price.
53:09Of course
53:10it does.
53:12I'm going
53:12to offer
53:12you all
53:13of the
53:13money,
53:14the 50,000.
53:17But I'd
53:17like to be
53:18an equal
53:18partner with
53:18you.
53:19Oh, my God.
53:20OK.
53:21So I will
53:21offer you
53:22all of the
53:22money for
53:24a third
53:24of the
53:24business so
53:25we can
53:25have 33
53:26and a third
53:27each.
53:31I mean,
53:31I love the
53:32products and
53:33I love this
53:33style of food,
53:34so I think
53:34that's number
53:35one.
53:35So I have
53:36to be passionate
53:36about what
53:37I invest
53:37in.
53:38I think
53:38you're really
53:39good people.
53:40I don't
53:41have great
53:41experience in
53:42this area,
53:43but I have
53:44raised significant
53:44money in my
53:45businesses.
53:48So I'm
53:49going to make
53:50you an offer.
53:53And I'll
53:54offer you...
53:54I told myself
53:54I would not
53:55get emotional.
53:56Don't get
53:57emotional yet.
53:57You don't do
53:58well.
54:00You might be
54:01happy to do
54:01You might be
54:02sad to do.
54:06So I will
54:06offer you
54:07all the
54:07money.
54:11for 20%.
54:14Thank you so
54:15much.
54:21I'll tell you
54:21what.
54:23I strongly
54:24feel that
54:26you've got
54:26something.
54:30So I'm going
54:31to make you
54:31an offer.
54:34Gary, would
54:35you match
54:35Peter's offer
54:36for half
54:36and half?
54:37So they get
54:38two drugs
54:38instead of
54:39one?
54:40Yeah.
54:41Yeah, I
54:41would.
54:42So we'd
54:42match Peter's
54:42offer.
54:44That's
54:4625,000 for
54:4715% each.
54:50Okay.
54:51Thank you so
54:51much.
54:54I'm really
54:55glad you got
54:55offers.
54:56Really glad
54:56you got
54:56offers.
54:57You held me
54:58in.
54:58The brand
54:59held me in.
55:01It's not a
55:01space that I
55:02can get excited
55:03about.
55:04Sure.
55:04So I won't
55:05be investing.
55:06Thank you,
55:07Debra.
55:11Thank you
55:12everyone for
55:13your offers.
55:13We really
55:13appreciate it.
55:14And just
55:14genuinely thank
55:15you for the
55:15feedback that
55:16you've given
55:16to.
55:16That's also
55:17invaluable.
55:20Peter, we
55:20were wondering
55:21whether there's
55:21any wiggle room
55:22at all because
55:2333% is quite
55:24high.
55:25Would you be
55:26willing to
55:26come down?
55:29What to?
55:3225%.
55:40Do you know
55:41what?
55:41I would do
55:4125% on the
55:43condition that
55:45my share is
55:46not getting
55:47diluted if
55:48you guys go
55:48off and raise
55:49some money.
55:53That's a
55:54reasonable.
55:55Yeah.
55:56Yeah?
55:57Yeah, we'd
55:57love to accept
55:58you.
56:00Thank you,
56:00Gary.
56:01Thank you
56:01super.
56:03Well done.
56:03Thank you so
56:04much.
56:05Victory for
56:07Tina and
56:07Ollie.
56:09I love being
56:09rejected.
56:10Very well
56:11done.
56:11We should
56:11see that.
56:12From a
56:12spark of
56:13inspiration to
56:14a Dragon's
56:15Den sensation,
56:16the culinary
56:17couple cooked
56:18up a win to
56:19remember.
56:26What just
56:27happened?
56:27That was
56:28crazy.
56:28Oh, my God.
56:32She's
56:32celebrating the
56:33idea that you
56:33just sacked her
56:34husband.
56:40But one thing I
56:41would say is,
56:42I don't think you
56:42should go back to
56:43being a cameraman.
56:44They only got a
56:45snippet of what he
56:46does for the business
56:47and we wouldn't be
56:48here without him,
56:49so I just wanted to
56:49say that.
56:50I'm so proud of you.
56:51I'm proud of you.
56:54He's the best husband,
56:56best partner.
56:57You really are.
56:58He's the best.
57:09Next time, welcome to
57:11the Den.
57:12It's a pleasure to be
57:12here.
57:13Beauty Supremo Susie
57:14Ma makes her Den
57:16debut.
57:17Yeah, let's go.
57:17I'm ready to watch
57:18this.
57:18I'm going to make
57:19you an offer of all
57:20of the money, but
57:21for 20% of the
57:22business.
57:2220%?
57:23They wanted three.
57:24Sometimes you do
57:25have to put absolutely
57:26everything on the line.
57:28so I'm getting
57:28emotional here.
57:29I don't usually
57:30high-five a competitor.
57:32Never seen you like
57:33this before.
57:34Don't trust me.
57:35I don't mean it.
57:37Hysterical confession.
57:39Graham Norton and
57:40Maria McElaine are
57:41wanging on.
57:42Listen to their
57:42latest on Sounds.
57:44Once upon a time in
57:46a boardroom, an epic
57:47story about to be told.
57:49Just don't expect a
57:50fairytale ending.
57:52The Apprentice is
57:52next.
58:03The Apprentice is
58:04The Apprentice
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