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00:07I want you to create a vegan alternative to cheese.
00:12Rachel and Steve wrangled with recipes.
00:15What I was thinking was a curried vegan alternative to cheese.
00:19It'll be an interesting taste.
00:21While Fallujah went crackers working solo.
00:24And their concoction failed to curry favour.
00:27I have to say where this is transporting me is to a pub curry from the 1980s.
00:31On the other team, Phil and Paul got a taste for gourmet.
00:37While Try and Flow resorted to rap.
00:39A scrumptious spread.
00:42But missed a beat.
00:44I cannot taste any truffle in this cheese.
00:46In the boardroom.
00:47They made an order of 15,000 units.
00:51Phil was the big cheese.
00:53But it was Fallujah.
00:55The branding was terrible.
00:56And Steve.
00:58I don't believe that we're meant for each other.
01:01Who cheesed off Lord Sugar.
01:03You're fired.
01:04Now, five candidates remain.
01:06To fight for the chance to become Lord Sugar's next business partner.
01:20One week, till Lord Sugar makes his final choice.
01:24Hello?
01:25Good morning.
01:26Lord Sugar would like you to meet him tomorrow morning at Hilo, East London.
01:30Please bring your business plan.
01:31I will do.
01:32Bye.
01:33Bye.
01:38All right, guys.
01:39So, we've got the final five interviews at the Hilo building.
01:42I think the time has come.
01:43We've got to read those business plans from literally start to finish.
01:46Let's know what we're talking about.
01:47Yeah?
01:48Ready for it?
01:48Absolutely.
01:49Let's do it.
01:52For the final five, one last chance to go over their business plans.
01:58By the end of year five, 2.3 million.
02:01With seven wins under her belt, 27-year-old Rachel Wulford has been cool, calm and collected
02:07throughout the process.
02:09My self-esteem is definitely something I've always struggled with and to be here right
02:13now has really proven to myself that I am capable.
02:16Now, she wants Lord Sugar to invest in her boutique fitness studios.
02:20It's a very lucrative business.
02:22It's almost a recession-proof industry.
02:25However, now I need to show them why it actually works and also that he's investing in me as a
02:29person and not just my business.
02:31Staying on top of the latest trends in the market and rolling out three more locations.
02:34To win this investment would be an absolute dream for me.
02:37It's something I never would have imagined I was capable of doing five years ago.
02:41Bring it on.
02:45Having pitched successfully over the last ten weeks, music producer Trey Lowe wants to
02:50convince Lord Sugar he can make the move from beats to business.
02:55I've never really worked a normal job, so it's kind of a bit daunting to think I'm not only
03:00going into an interview.
03:01I'm going into an interview with someone of the toughest interviews on planet Earth.
03:07Like, what am I thinking?
03:09I went to university and started making music pretty much and when I came out of university
03:14a year later, I had a massive hit and that's pretty much what I've done.
03:17The UK functional shots market was valued at $28.4 million.
03:22I think having a mentor like Lord Sugar, I mean, it doesn't get better than that, does it?
03:32At 28 years old, dentist Paul Meder is hoping his thriving practice will stand him in good
03:38stead.
03:39I've only been in business for two years, but what I've done in business in those two years
03:44is flip a £175,000 practice to 15 months later into a £900,000 practice.
03:50£156,000 worth of profit.
03:52He who dares wins.
03:53I'm always taking risks.
03:54I love taking risks.
03:56I always say that I feel being uncomfortable is actually comfortable to me.
04:00And yeah, sometimes I'll get some things wrong.
04:01I'm human, but I'm always willing to try.
04:07With the joint best record in the process, Flo Edwards is risking it all on a recruitment
04:13business.
04:13I left my job a few months before joining this process with the idea of starting it.
04:18And so I've spent a lot of time and a lot of thought, and I'm really, really confident
04:23that it is a good business plan.
04:26Companies in the top quarter of the gender diversity and leadership teams are 25% more
04:30likely to have above average profitability.
04:33I won't lie.
04:34Obviously, I'm incredibly nervous.
04:36The pressure will be immense because, you know, it's no laughing matter, a quarter million
04:41pound, and Lord Sugar is your investment partner.
04:46Despite having the worst record of the remaining candidates, Phil Turner wants to show Lord
04:52Sugar he can take his family firm to the next level.
04:56Pie making has been in my family for three generations.
04:59So I'm not just on this competition to win an investment for something that's thoughtless
05:04has come into my head.
05:05This is something which is deep ingrained in my family, in my history, in my heritage.
05:09Oh, lovely.
05:11I've never had a business plan for my business before.
05:13It's all been in my head, and everyone's kind of been doing my vision.
05:17New store openings.
05:19One thing I really do want to get across in these interviews is I want them to know how
05:22much I care about my business, and how much I care about making my family proud and inspiring
05:27my children.
05:346 a.m.
05:36Boys, time to wake up.
05:38The day of the grilling.
05:39The day of the grilling.
05:40Ready for war.
05:41I'm ready to smash it today, seriously.
05:44Two remaining girls.
05:45I know.
05:46I know.
05:47How are you feeling?
05:47Good as you ever would be on the grilling day, what about you?
05:50Oh, I haven't quite woken up to process it yet.
05:52Who are you most nervous to be interviewed by?
05:54Linda.
05:55She seems a bit biased, did you?
05:56Yeah, I know that she doesn't hold anything back, so.
06:00Yeah, I reckon she could put me right on her face.
06:09Yeah, we're going to get grilled, and rightly so, and then there's 250,000 at stake.
06:13I feel good.
06:14Let's do it.
06:16I think it doesn't matter how well we've prepared or how strong we think our business plan is.
06:20It's going to be gaping holes.
06:21I'm on things for sure.
06:23If there are weaknesses, they will sniff them out.
06:29Destination Hilo.
06:30Destination Hilo, a 28-storey skyscraper in the heart of East London.
06:53Good morning.
06:54Good morning, Oshiga.
06:55I've already invested £3 million in 12 winners.
06:59One of you will be my 13th investment.
07:03Lucky for one.
07:05So it's now time to find out if your business plans stack up.
07:10Today, I'm going to put you in front of four of my most trusted advisors.
07:15They'll be assessing your business proposals,
07:18and whether you are the right calibre of person to be my business partner.
07:23So, hand your business plans over to Karen and Tim.
07:35So, everything clear?
07:37Yes, Oshiga.
07:38Good.
07:38Good luck.
07:38I'll see you later.
07:46What makes you think that bigger, more established recruitment companies
07:52are going to let you come and eat their lunch?
07:55Putting the business plans to the test,
07:58founder of a global design agency, Linda Plant.
08:01You've got nothing tangible to show me,
08:04and you don't actually know if the ingredients work, do you?
08:07Just give me a yes or no answer.
08:10Getting under their skin,
08:12boss of a billion-pound media agency, Claudine Collins.
08:16You seem to be more of a people pleaser
08:19than someone that's really confident of their own thoughts.
08:23I personally wouldn't agree with that at all.
08:25Back to crunch the numbers,
08:27Lord Sugar's long-time friend and business associate, Claude Littner.
08:32You've given me some random numbers that are unintelligible to me.
08:36I can't vouch for anything.
08:39Here we are.
08:41I don't know about you guys,
08:41but it's just the fear of not knowing what we're going into,
08:44which is quite overwhelming.
08:46We've just got to state our case,
08:47don't leave anything behind in that interview.
08:49This is when things get serious.
08:51This is about us.
08:51This is about our business plans,
08:53and we've really got to give it our best shot, guys.
08:55Right, guys, wish me luck.
08:57Good luck, Trey, Trey.
08:58Good luck, Trey. Go smash it.
09:01Let's do it.
09:03A lot of weight on his shoulders being fisted up there.
09:06Poor Trey. Rather him than me.
09:10Claude.
09:13Look, Trey, we'll start off by, very briefly,
09:16you tell me a little bit about what it is
09:18that you're looking for investment for.
09:19It's literally a functional shot
09:21based on testosterone called ZAP.
09:24Yeah, OK.
09:24It's there to initially...
09:25OK, let me stop you there.
09:26So you must know that one of the key factors
09:29when you get to this stage
09:30is you've got to have a business plan.
09:31Yeah.
09:32Do you know what goes into a business plan?
09:35Yes.
09:37It's your idea,
09:39and then obviously it'll be some sort of level of projection, etc.
09:42And you think you've covered it?
09:43I think I have. I think not.
09:44It's woefully inadequate.
09:46I don't know what you're going to pay for manufacturing costs,
09:49distribution, where you're going to distribute it,
09:50how you're going to distribute it.
09:51So, some of that...
09:52I haven't finished.
09:53Sorry.
09:53You've given me nothing to work with.
09:54I'm not saying that this is an industry that I absolutely know.
09:58Well, you know nothing.
10:00You know...
10:00It is something that I consume all the time.
10:02You've got some completely crazy idea
10:05that you're going to go public in 2030.
10:08Well, go public on what?
10:09I haven't seen a single number.
10:12Trey, you're a decent bloke,
10:14but I'm just being absolutely honest with you.
10:15I mean, my premise for that would be initially to sell it online.
10:18You can't sell it. You haven't made it.
10:21I completely get from your point of view is
10:22you do want to see numbers,
10:24but I do know if I can sell music and sell units
10:27and sell half a million records,
10:29then I know I can sell.
10:30You're giving me answers now,
10:31but those answers are not going to satisfy me or Lord Sugar.
10:35I think that we've come to a full stop.
10:37OK.
10:38I wish you well.
10:38I appreciate that.
10:39Thank you, Conor. Generally, thank you.
10:40OK. Good luck.
10:45Trey, how was it?
10:46Absolutely brutal.
10:48Who did you have?
10:49Claude.
10:49Worse than you could ever imagine?
10:52Completely.
10:52The amount of detail that he said was not in there.
10:56Gloves off.
10:57Like, I mean, that is full on.
10:59This has put the fear of God into me.
11:01You better be ready.
11:02All right, guys. I'll see you soon.
11:04Good luck, Paul.
11:05Good luck, Paul.
11:06Good luck, Paul. The best, mate.
11:09So, guys, another one taken from us.
11:13Good afternoon, Linda.
11:14Lovely to meet you.
11:15Hi.
11:17So, in a nutshell, do you want to just tell me briefly about your business plan?
11:21It's a product.
11:22It's a kind of well-fitting scrubs that are stain-resistant, water-repellent, four-way stretch.
11:27You know, when I saw your business plan, I've got to say, and I saw cosmetic dentistry, I was very
11:32excited.
11:33I was happy.
11:34But then when I saw your business plan, scrubs, I was sad.
11:38Because I think, wow, it would have been so much better if it was cosmetic dentistry, not scrubs that you
11:44seem to not know that much about.
11:46But let's go into that.
11:47You've given no specifics on the production.
11:50Have you got samples?
11:52What about quality control, inventory breakdown, multiple sizes, multiple colours?
11:58Well, where is it all?
12:00So, my dad's business was in textiles.
12:02Textiles, I know.
12:03I saw a picture of it.
12:04But what's that got to do with your production of scrubs?
12:07Well, I'm saying in terms of the contacts, because you're saying, well, where is the production going to be coming
12:11from?
12:11I'm explaining that that is initially where the supplies are coming from.
12:14I think it's quite important to say, I'm producing the goods here, the lead time is this, this is our
12:19quality control, these are our samples.
12:21What I'd say in that regard is that the product hasn't been finalised yet.
12:26Yeah, exactly.
12:26Paul, exactly.
12:28Do you think it's good enough that the product hasn't been finalised yet and with no details of production?
12:33I'd scrub the scrubs.
12:35I'd scrub scrubs and go into dentistry.
12:38You don't know anything about this business, really, do you?
12:41That is the truth.
12:42Okay.
12:43That is the truth.
12:43Thank you, Paul.
12:44All right, take care, have a great day.
12:53How are you doing?
12:54I thought it was really brutal in there, but I know I've got three more interviews to go, so you've
12:58just got to keep on going.
12:59It's going to be a long day.
13:00Well, on that note, I'm off now.
13:03Flo, remember who you are, yeah?
13:04Good luck.
13:05Good luck, Flo.
13:05All the best.
13:06Cheers, guys.
13:06Good luck, good luck.
13:10Flo looked really nervous.
13:13It's like sending a lamb off to slaughter.
13:16That's what that felt like.
13:18But out of everyone, she was absolutely whateverness and she's not the type of girl that will go down without
13:22a fight.
13:23Hi, Mike.
13:24Take a seat.
13:27In a nutshell, please describe the business that you would like Lord Sugar to invest a quarter of a million
13:34pounds in.
13:34So, it is a recruitment business focusing on placing senior finance professionals into private equity-backed portfolio companies.
13:44Okay.
13:44I think the structure of your business plan is good.
13:49It'll be called Hathor Consulting, right?
13:52Yes, that's correct.
13:54Where does the name Hathor come from?
13:56I looked at, I guess, your typical ancient gods and goddesses.
14:00Your typical ancient gods and goddesses.
14:04It's the Aphrodite, but...
14:05In your business plan, you say Hathor was the epitome of diversity and inclusion in ancient times.
14:12What's your source for that sentence?
14:14Um, I kind of made it up myself, having read what I knew about her.
14:21Right, okay.
14:22Have you asked Hathor Consulting in Norfolk if they're happy for you to use their name?
14:28Um, no, but I did buy the domain name.
14:30Well, that doesn't make any difference, because you've wasted your money if you've bought the domain name.
14:35Excellent.
14:37Because that is a company called Hathor Consulting, and they've been in business since 2018.
14:44Okay, um, might have to rethink the name of the business plan in that case.
14:50Let's start off with you telling me a bit about your business.
14:53We're a small family-run business, and we specialise in handmade, quality handmade pies.
14:59You've got these five shops.
15:00You've got a significant amount of cash, which is fantastic.
15:04Right.
15:04The first question I'd like to ask is, why haven't you got a P&L account?
15:07In the, um...
15:08Well, rule number one is you've got to provide a profit and loss account.
15:12Yep.
15:12Cash flow, balance sheet, debtors, creditors.
15:17A lot of the things you're talking about can be seen on a company's house or...
15:22I know nothing, because you haven't given me information.
15:24If I go to a company's house, I don't get very much.
15:26No.
15:27Um, so that's a real failing.
15:29I mean, profit and loss account is the starting point.
15:31Okay.
15:32Um, I accept your feedback.
15:34It was a conscious decision to keep it, um...
15:38Short and sweet as such, but obviously I recognise that's a mistake.
15:41It's not really short and sweet, is it?
15:43I think I could have given you 150 pages and it still wouldn't have given you everything you needed to
15:47see.
15:47So I was trying to deliver something which you could read and understand in the business.
15:50Yeah, I'd be happy with 10 pages, as long as there's the 10 pages I'm interested in.
15:53Not, not 50 pages of stuff with pictures on it.
15:56I don't care about pictures.
16:00Right, guys, off to the line's done.
16:02I'll see you soon.
16:03Good luck, Rach.
16:04Good luck, Rach.
16:06You're fighting an opponent that's just better than you in every way.
16:09Yeah.
16:1019.
16:11You've got nothing, you've got no defence, nothing you normally rely on works.
16:17Hello, Rachel.
16:17Nice to meet you.
16:18Rachel.
16:19Nice to meet you.
16:20Claudine, sit down.
16:21Claudine.
16:23Rachel, can you explain to me in a nutshell your business proposition?
16:27Yes, of course.
16:28So it's a small boutique fitness studio in the north of England and we offer small, inclusive group fitness classes
16:34and I'm looking to expand it further in the north of England.
16:37You've done really well, but you talk about personal service, you talk about it being a USP of your gyms.
16:43How are you going to replicate that across five gyms?
16:48In terms of how will I cope with delegating, for me I think my biggest thing would be making sure
16:53we deliver a consistent service.
16:54How can you make sure that's replicated across five because you can't clone yourself?
16:59It's definitely a big part of the business.
17:00In terms of replicating it, it's training the staff up and also making sure that whoever takes over as manager
17:05in the other studios knows that that is what the core value of the business is.
17:09You said that you kind of have grabbed your customers' attention in the gym by doing things outside of the
17:16box.
17:16Yeah.
17:16So I'm quite surprised, if I'm honest, when I look at the branding of your business, that it's honestly very
17:24similar to all the others.
17:27It doesn't really stand out at all as being something different.
17:31So the idea behind the name, it was all about being in the north of England and also being proud
17:36of being in the north.
17:37It's just that you're talking about your gym and it sounds very exciting and it sounds vibrant and it sounds
17:42lively and it feels personal.
17:44And this doesn't feel any of that.
17:47Do you know what, I'll absolutely take that on the chin.
17:48I appreciate it doesn't exactly say what it is.
17:51Thank you so much, buddy.
17:55How are you feeling?
17:58Honestly, relieved.
18:00Yeah.
18:00It was tough, but I think it went as best as it could.
18:03Do you know one thing about these guys is they are super thorough.
18:06Oh.
18:06Seriously, from my point of view, I don't think it can get any worse than Claude.
18:09It can't get worse than that at this moment.
18:21Good morning.
18:22Hi, Rachel.
18:29Trey, hi and welcome.
18:31I don't think we've ever had anyone quite like you on The Apprentice.
18:36Is that a good thing?
18:37Yeah, I think it is a good thing.
18:39You're unique and that's always a good thing, right?
18:41You're tenacious, you're driven, you're inspirational, you're street smart, you're charismatic.
18:46I don't really like your business plan though, but I'm going to go into that now.
18:50I know.
18:51So testosterone-type shots.
18:53And you've gone on to name some of the ingredients, zinc, magnesium, ginger, amino acids, various other ingredients.
18:59Have you got any scientific evidence or medical reports to show?
19:06There's no evidence to back it up.
19:07There are some trials about it, I mean, maybe because...
19:09But you didn't show them in your business plan, did you?
19:10That's one thing that I definitely could have done a lot more, showed a lot more evidence.
19:14All right.
19:15I mean, you're wanting to ask a man for £250,000.
19:17You haven't got anything to show him.
19:19You haven't got a drink, you haven't got a bottle, you haven't got packaging and you haven't got evidence.
19:22So, admittedly, I don't have the experience in the food and beverage market I obviously do in the music business,
19:29but for me it's a very personal thing.
19:31I get what you're saying, but what I'm saying, when you come to ask for £250,000...
19:35Absolutely.
19:36..it's got to be more than that.
19:37No, absolutely, I don't have experience.
19:38And you buy in and say, whilst I may lack direct experience in the functional juice shop market...
19:43But I've done that in the music business, I'm very confident with competing against other people.
19:45I know, but we're not talking about music today.
19:47I know, but I do believe...
19:48I have already given you the accolades you deserve, you're impressive.
19:52Because you've been successful in music, it does not mean to say that this market that you've chosen, this businessman
19:57with no experience whatsoever, that you're going to be successful.
20:01I think you're a fantastic guy, but I do not believe in your drink.
20:06OK?
20:09You've not provided any accounts, have you?
20:11No, I haven't.
20:11Why is that?
20:11It was an oversight, and it was my mistake.
20:14Well, it's a very serious mistake, because if I can't see the numbers, then I can't vouch for whether your
20:19turnover is anything, let alone profit.
20:22I mean...
20:23I thought I would have my accounts with me, that was my mistake.
20:26The figures on there are projected start-up costs and projected B&L for...
20:30Projected is projected, projected, but I mean, the thing is, what about actual, what's actually happening in the business?
20:35How did you get the money for the first site?
20:37So it was £150,000 of my own money, which I chose to spend on a job.
20:41So what about the second one?
20:43The second site, I paid £120,000 including VAT.
20:47That was partly funded by positive cash flow in the bank, and then I got a bank loan with my
20:52own bank at the end of last year.
20:54And then the equipment, I pay on finance monthly.
20:57All I can see is losses, loans. It's impossible to get any idea. I don't know.
21:01Would I, would you allow me to explain where the profit is?
21:04You can explain it, but it's like too late in the day to explain it. I need to see proper
21:08numbers.
21:09I think we've come to an end.
21:11Thank you, Claude.
21:18Rach, how did your second interview go?
21:21Mate, grilled. Like, way worse. Definitely worse than so far.
21:26You had Claude?
21:26Yeah.
21:27Really? That's hard.
21:28Listen, it was, it was tough and it was what I expected after what you said as well.
21:32His attention to detail was just impeccable.
21:37Your family have been making pies in one way or another.
21:40Yeah.
21:40Since the 1930s.
21:42Yeah.
21:42But there hasn't been a business going since then, right?
21:45So when did Turner's Pies start?
21:47So we incorporated Turner's Pies in 2012, I believe.
21:54So why does it say established 1933 on your shop front?
22:01To be honest, we wanted to give a nod to our heritage and the fact that we are authentic and
22:06we have been doing this for a long time.
22:08That's not a nod.
22:09No.
22:10That's deceiving customers.
22:12It's deceptive.
22:14The establishment of a company refers to its official incorporation date.
22:19Yeah.
22:20You're saying you were established 1933.
22:23You weren't.
22:24No.
22:24It's not true.
22:26It's deceptive to say established 1933.
22:28OK.
22:30Well, I didn't know that and that's something, look, I'm not sure how we would go about changing that.
22:37Well, I know how you go about changing that.
22:39Paint over it.
22:40Yeah.
22:42OK.
22:44When I first looked at your plan, you're stating that there's 31,000 private equity funds.
22:52Yeah?
22:52That was a start.
22:53But that's not really relevant, is it?
22:56Because that's a global figure and I think it's a nonsense to start with a global figure when you're just
23:01starting a new business.
23:02Yeah, absolutely.
23:03Look, I've only worked in the UK market.
23:05Yeah.
23:05I've dabbled in Europe.
23:06So, do we agree that global, it's not realistic.
23:09It makes good writing on paper, but it's not meaningful for Lord Sugar.
23:12It's not the market I'm going after.
23:13So, let's take it, yeah.
23:14So, you're saying the market we're after is UK and you're saying there's 1,853 companies, which I assume is
23:20correct.
23:21But the number of vacancies is 25%.
23:23Where's the evidence?
23:25Where's the written evidence?
23:26So, we can show to Lord Sugar, look, this is correct.
23:29That's a longer term target that I want in at least sort of 10 years plus.
23:32Oh, well, you're not, well, why didn't you write that?
23:34Because the revenue on my business plan...
23:36The norm is 10%.
23:38Noted.
23:42How much cash does your business have in the bank?
23:44Probably somewhere around 700,000.
23:47OK, in March 2022, it was 829,000.
23:51That's correct.
23:52So, your cash reserves have really come down in the last period.
23:55Last year, last tax year, it was definitely the first year where we made a loss.
23:59We had some issues with our management accounts where I wasn't getting quarterly management accounts for the last two quarters.
24:05You haven't seen accounts for the last six months?
24:07No.
24:08That's a massive problem.
24:09How can you run a company and not see accounts for two quarters in a row?
24:13So, we have, a lot of my accountancy practices have been relatively old school.
24:19I was getting...
24:19What, has he got a quill and like an old book or something that he's writing in?
24:23I mean, how can you not have management accounts for six months and you're running a business?
24:28That's a problem that I've also recognised and I'm working towards fixing that problem.
24:34If you get your growth strategy right, what could your business be worth?
24:38I have no idea.
24:39Phil, you're going for investment from an external investor.
24:42Of course.
24:43You have to know that in an investment plan.
24:45Yeah.
24:45And there's none of that in here.
24:48Thank you, Mike.
24:53Here comes Mr. Phil.
24:55Tough stuff, guys.
24:57You were there for ages.
24:57Yeah, he's going in on me, yeah.
24:59How was it?
25:00I don't know.
25:01I think a bit like you guys, it takes a little bit of time to process.
25:03Yeah.
25:03All right, guys, it's my second interview.
25:06Please wish me luck.
25:07Good luck, dude.
25:07You're a veteran.
25:08You've got it.
25:09I don't want to be a veteran in this.
25:14Hi, Paul.
25:17In your application form, you said that you featured as the cover story for Top Dentist
25:22to Watch in 2022.
25:24Amazing.
25:25You put your value is over £2 million.
25:28Amazing.
25:29And then you put, and I can body pop.
25:31Yeah.
25:32I completely agree.
25:34I didn't mean for it to be in the business acumen section.
25:36Yeah, it was about your skill set and what you've achieved.
25:40And that, at the end, just is a bit odd.
25:44Your first dental practice that you opened within 15 months of opening increased its value
25:50five-fold.
25:51So why on earth are you starting another business and not concentrating on the one that you're
25:58trained for and is seemingly flourishing?
26:00I know I can do a service-based industry well, but having Lord Sugar's mentorship and expertise
26:05within a product, it would be priceless for me.
26:07And that's kind of why I stem more towards that direction.
26:10But you don't have any experience in that.
26:11I can understand that.
26:14I mean, one of the things Lord Sugar always says is do what you know.
26:19So starting this business, you've got funding from Lord Sugar.
26:22Yeah.
26:22So you are absolutely delighted.
26:25Any normal person would start off cautiously.
26:29Year one, staff cost is £712,000.
26:32That's correct.
26:32I mean, this whole thing is ludicrous.
26:34This is the rantings of a lunatic.
26:36Nobody is investing in a business where you're going to go and invest in staff cost day one
26:41and get a whole load of people without any business.
26:45You'll be bust in four months.
26:47You know that, do you or not?
26:48Yeah, so I think I've written it in there that the cash balance that I have supports the business for
26:54four months with zero billing.
26:55Well, I mean, I just don't see it.
26:58And if you have gone and you're hiring 15, 17 staff, you get to month two and you haven't done
27:03anything, you are in real trouble.
27:06But I've seen those numbers delivered forward with the head count.
27:08I know it's possible.
27:09I'm just doing it faster because I've seen it.
27:11It may be possible, but it's not probable.
27:14I do set myself big targets.
27:16I am ambitious.
27:17That's good.
27:17That's good.
27:18Exceeding is always great, but falling short is never good.
27:21I appreciate that.
27:23Probably unnecessarily, but I think you've done yourself no good by shooting high.
27:28Do your testosterone shots have testosterone in them?
27:33No, because I think by law you can't have testosterone, but they have ingredients that have been known to improve
27:39and boost testosterone levels.
27:41It would be illegal to have testosterone in a testosterone shot.
27:45OK.
27:45Because it's a controlled substance.
27:48Substance, exactly, yeah.
27:49You say you've got partners in a specialist laboratory who will manufacture those drinks.
27:54How much work have you done with them?
27:56So I've had a very long call with them.
27:59Admittedly, I haven't actually worked with them, but I did call them.
28:01Have you been there?
28:01I haven't physically been there, no.
28:03They're up in Scotland?
28:04They're up in Scotland, yeah.
28:05It's not that difficult to get to Scotland.
28:06In terms of the time, I just physically didn't have the time to go up there.
28:09How can you ask for £250,000 of investment without even knowing what your product would taste like?
28:15Because I'm confident, with the help of the drinks lab, that I would come up with a formula that would
28:21be absolutely tasty.
28:23OK, well look, I've had two samples fabricated to your recipe, so we can see what it tastes like.
28:30Well, God, you've come prepared.
28:37So Lord Sugar's investment is going to be used to expand your existing business.
28:43Yeah.
28:44Membership fees provide stability and predictability for income streams, and you don't have that.
28:50And I think that is a big flaw.
28:53Now, we have two ways you can come to the gym.
28:55We do have membership options, where people do pay via direct debit, or ClassPass packages.
29:00But by your own admission, you go on to say that there are vulnerable months, December, March, April, July, August.
29:07Your revenue's going to dip.
29:08What's your strategy to mitigate the losses in revenue?
29:12So, in our vulnerable months, we do always have the direct debit payers, so you know you've always got that
29:16coming in, because they can't cancel.
29:17What percentage of your, when you say direct debit?
29:20Yeah, so the members, anything between 50 and 65% of my clientele, and the remainder are paying flexibly.
29:26You're going to have to worry each new location.
29:29What's going to happen in the lean times?
29:32I think it's a worry, because there's quite a lot of lean times.
29:36They both have ginger, black pepper, that one's for me.
29:40Oh, sorry.
29:42Ginger, black pepper, turmeric, ashwagandha, vitamin C, vitamin D.
29:46Wow, might be a taste of my future product.
29:50Let's hope that you like it.
29:52Yeah.
29:54OK.
29:55I'm going to let you go first.
30:00How is it?
30:02I think a little bit less black pepper, but other than that, it's not too bad.
30:07Whoa.
30:09Come on.
30:10That burns the back of your throat.
30:11I love that feeling a bit, burning the back of the throat.
30:14I think the kind of people that...
30:15Hold on, you're not going to finish it?
30:16Oh, absolutely.
30:23I really like that.
30:24To be honest, if that was going to boost my testosterone levels,
30:28I suspect I might prefer just to leave them flagging.
30:32Who would you say has inspired you the most?
30:35I definitely think my mum and dad are my biggest inspirations.
30:38Are you very close to them?
30:40Yeah.
30:40Standing there in a close environment, working day in, day out for a few years, I actually
30:45really started to appreciate actually how much work they'd done and how much they'd sacrificed.
30:49And my appreciation for them as parents and actually as people went through the roof.
30:54So, yeah.
30:54Just talking about this makes me feel really warm inside.
30:56Yeah.
30:57And what you've achieved with your family business, your parents must be so proud of you.
31:02Yeah.
31:03I'm sure they are.
31:04And what does family mean to you?
31:07I think you can probably tell if you're speaking to me, it means everything.
31:10After having children, it really puts things into perspective and you start thinking more
31:14about what am I leaving my children?
31:16What legacy can I leave?
31:17And that's kind of really what it's all about.
31:19And I think as I'm getting older, I'm starting to realise that.
31:22In the UK, I would have thought there's limited demand for people who want the kind of product
31:27that you're proposing.
31:28When my surgeon operated on me, I didn't say, oh, I hope you've got the latest scrubs,
31:33because all I care about is, is he a great surgeon and he's going to make me better?
31:37I can appreciate that when you say it like that, it does sound like a bit of a nightmare
31:42in that regard, but what I do say is, you know, high risk, high reward.
31:45This is what you're going to pitch to Lord Trigger, but I think you've shot yourself in the foot
31:49because I think that there's a better opportunity where you are.
31:52The dentistry model, with your contacts, with your expertise,
31:55with all those kinds of things, is a great business opportunity.
31:59In terms of if we compare the dental model and the product model,
32:02the dental model is safer and it would give a good return.
32:06I think you need to have a quick rethink about it, possibly,
32:08because I think that what you're doing, that is a fantastic business.
32:12Why muck about with all this stuff?
32:13Thank you, God. Take care. Have a great day.
32:15Thanks, you too.
32:16Going down.
32:18I'm heavy.
32:22Paul, how did it go?
32:25Um...
32:26Have you just been with Claude?
32:27I've just been with Claude.
32:28So, he basically said that I pitched the wrong business.
32:32Is it a safe investment? Not really.
32:35I have to rethink everything in terms of confirm to myself,
32:38am I doing the right thing?
32:39It's just made me... My head's all over the place.
32:41I don't even know how to describe it.
32:42I need to process it all.
32:43I'll see you on the other side.
32:44Good luck, Rachel.
32:45Good luck.
32:51So, each gym has its own website for customers.
32:54You've got northstudioleeds.co.uk for leads,
32:58and you've got northstudionewcastle.co.uk for your next one.
33:03So, I don't have northstudionewcastle.co.uk now?
33:07It says here that the domain has been purchased but yet to be set up.
33:13Yeah, I haven't got it, so...
33:15It's not available any more.
33:17Have you bought it?
33:22Do you know what?
33:23I should have just done it on the spot.
33:25I should have done it straight away.
33:26So, I appreciate that it's gone.
33:28I suppose you could always buy, because it's going to be in Jesmond.
33:32Yes, it is.
33:33So, I suppose you could always buy northstudio Jesmond.
33:35Have you bought northstudio Jesmond?
33:39Looks like I'm holding all the cards here in this negotiation.
33:43I think you are.
33:44How much would you like to offer me?
33:46What about £32, including VAT?
33:49That's slightly less than I paid.
33:51£34, including VAT.
33:53It's a deal.
33:55Thank you, mate.
33:58What's gone wrong, because turnover's up and profits are down?
34:02We actually had quite a big peak during Covid,
34:05so I think we've invested quite a lot in management staff.
34:09Do you think you over-expanded? I do.
34:12Did you base the expansion on how well you did in Covid?
34:15Yes.
34:16And so, what's happened now?
34:17Because your net profit's taken a beating.
34:20Yes, because the business has now grown to a size
34:22where it's less nimble than it used to be,
34:24it probably took us about a year to react to them extra fixed costs.
34:28So, where do you see the real opportunities
34:31to home in on your business?
34:33I feel the online side of the business has huge upscale at the moment.
34:40Because it's been trending downwards since the lockdown.
34:43Don't you think that you should have put in more detail
34:45of how you're going to scale up the business?
34:48OK.
34:48And a little bit more understanding of your losses.
34:52These are images from your business plan,
34:57which demonstrate your scrubs range, correct?
35:00That is correct.
35:01They're not your images at all, are they?
35:03No, so these aren't the images that are going to be our scrubs.
35:07This was just to be able to put a picture of the logo in the business plan
35:11so you could see where the logo on the scrubs could go.
35:13This is very misleading.
35:15You haven't indicated in your business plan that this is not your range.
35:19I can apologise that it wasn't mentioned.
35:22You've ripped off somebody else's website
35:24and you've put it into your business plan
35:26to try and make your business plan look better.
35:29It's not credible.
35:30I can appreciate that that looks extremely suspicious
35:33and is less credible.
35:37So I have to ask you about your dad
35:39because it's incredible what you wrote about what he's been through.
35:44People tend to have heroes that are external
35:46and by that I mean someone they've read about
35:48or some, I don't know, celebrity or something else, I don't know.
35:51But to grow up with someone like my father
35:53who had literally nothing growing up,
35:55to have someone like that who just had a dream
35:57and his dream was just one day I want to come to London
35:59and I want to be rich and it's just a childhood dream.
36:02He would have been six or something when he said that.
36:04It wasn't easy. He had six children.
36:07But it's just the level of kindness that...
36:11Yeah.
36:15And I hope you don't mind me asking
36:17because you lost your brother which is tragic.
36:20You must miss him a lot.
36:22I don't want to upset you.
36:25No, it's fine.
36:26He was the other half of the band with me.
36:29Um...
36:30Just a phenomenal soul.
36:32You know what, Trey?
36:34I have absolutely no doubt
36:36that your late brother would be so proud of you sitting here today.
36:40He would be.
36:44Do you know what?
36:45That was emotional.
36:46Shots about my brother and it's like, you know, it's hard obviously.
36:49You know what I mean?
36:50It was like, we can move on.
36:51Because you could see me just fighting back the tears.
36:53I was like, no.
36:53I really wanted to acknowledge him.
36:56Do you know?
36:56And she said, yeah, he must be really proud of you.
36:58Definitely the hardest day so far.
37:00I think we should be proud of ourselves, guys.
37:02Absolutely.
37:03Absolutely.
37:03Let's go.
37:31Let's go.
37:36Thanks for coming in to give me your opinion on the final five in the 18th year.
37:42Claude, can you believe it?
37:44You look just as young as when we first started.
37:47So do you.
37:47Honestly.
37:48Unbelievable.
37:49What have you been taking?
37:50You haven't been taking Trey's juices.
37:52Could well be.
37:53My lips are sealed.
37:55Anyway, shall we start with Flo, shall we?
37:58Okay, so Flo is looking for investment to launch a new recruitment agency.
38:03It'll specialise in recruiting senior financial executives into the private equity sector.
38:10That's her specialities.
38:11Yeah, so she has a track record of doing that, but let's be honest.
38:16Tough.
38:16Rep recruitment.
38:17It's tough.
38:18I thought she was a very bright woman.
38:20She is.
38:21She's bright.
38:22She's impressive.
38:23I've seen that through the past 11 weeks.
38:25She is bright.
38:26I kind of liked her from that point of view.
38:27The truth is that her figures, if you go with her business plan in year one, not only
38:32would you lose your entire investment on her projections, but she also has to take on debt.
38:37Bottom line is, she gets to turn her £50,000 investment from me.
38:42Why has she blown the money in the first three months?
38:44It's very, very simple.
38:45She's gone absolutely crazy in terms of hiring people immediately.
38:48So she's got a lot of consultants, and after four months, the money's gone.
38:52She was talking about 10 people or something?
38:54No, is that right?
38:5515.
38:5515.
38:56She says she's going to employ 15 people.
38:58Anybody who starts a business, Alan, starts cautiously.
39:01Okay?
39:02She's not starting cautiously.
39:03She's going all out.
39:04So I think the whole premise of the thing, she's not going to get to year one.
39:07Okay, look, we'll move on.
39:09I'd like to talk about Paul now, the dentist.
39:12Paul is a cosmetic dentist, but his business plan, quite disappointingly, is he wants to
39:17go into the scrubs market.
39:19He has absolutely no experience on the scrubs market.
39:23It's manufacturing.
39:25He doesn't even delve into anything to do with the production, with the quality control,
39:30where he's making it.
39:31It was like a fairy tale, the business plan.
39:33It was just full of statements.
39:34Well, I mean, my dentist, they seem to wear this kind of, like, big shirt, which comes
39:39down three-quarters lengths, and that's about it.
39:41Doesn't seem like rocket science to me.
39:43I hope they're wearing something else as well.
39:45Yeah.
39:45No, no, I mean, over their clothes.
39:48That's a completely different place.
39:49Ooh, cheeky dentist.
39:51Over his clothes, yeah.
39:53I told him to scrub the idea of scrubs and focus on cosmetic dentistry, which is an exciting...
39:58It's such a shame that he didn't have that as his business plan, because it is such a lucrative
40:04business.
40:05Do you think he would have dumped the scrubs idea?
40:08Do you think he'll have a new proposal for Ellen when he comes out?
40:11Yeah, I hope so as well.
40:12I think when he left me, he was going to think about that.
40:14Yeah, he wants to go into the soft drinks business or something like that.
40:17Yeah.
40:18OK, moving on from Paul, let's go to Rachel, shall we?
40:22Now, Rachel's got two gyms, I believe, right?
40:26Yeah.
40:26What is Rachel going to do with my money if I invest in it?
40:29Um, she plans to open three new locations with your investment.
40:34But as a business, first of all, she doesn't have subscriptions, so it's all gym parties,
40:40which is great for the client, but it's not really great...
40:43What does that mean, you just turn up and pay?
40:45Well, or you can buy for three months.
40:46But gyms need subscriptions, so they know they've got money coming in and predictability.
40:51Hmm.
40:52First of all, I think she was under terrible pressure when she was with me, because she's...
40:56Wonder why.
40:57I wonder why.
40:58No, but she's obviously passionate about her business, but I think she sensed that she had
41:02no numbers and she probably is struggling to make a profit, and I don't think she is,
41:06in spite of her saying £250,000 turnover, £50,000 profit, I think that's highly unlikely.
41:11I mean, I'm not sceptical about what she said about her financial performance.
41:17The difficulties are the financials, the economies of scaling that.
41:22But I think if you can get that right, she's definitely the person to do it.
41:26All right.
41:27Moving from there, we go on to Trey.
41:31What he wants to make is some kind of testosterone drink for men.
41:37It's like a Viagra smoothie, I think, from what I've understood, but I don't get it.
41:42His idea is to have a wellness drink that helps men with their testosterone levels.
41:50Was there a business plan?
41:52Was there a kind of like, I'm going to make so many of these, and in year one I'm going
41:56to sell this, and in year two that, blah, blah, blah.
41:59Was there anything like that there?
42:00Well, in year two, Alan, he's going to make £250,000 profit.
42:03Yeah.
42:04Guaranteed.
42:05And by year five, you'll be pleased to know, in 2030, he's going public with a £2 million profit.
42:11Really?
42:12Yeah, what's in this drink?
42:13You made it, didn't you?
42:14I had it made up.
42:15There's black pepper in it.
42:17There are a couple of different, more exotic roots, and I had two small shots made up.
42:22I wonder you're perky this morning.
42:25I have to say I'd rather live with low testosterone than ever drink it again.
42:29How good it tasted.
42:30It was very bitter.
42:31No, but you did say, you did say that your tongue was stinging, but that's not really
42:34the idea of it, is it?
42:35LAUGHTER
42:36Yeah, it's not your tongue that should tick that.
42:39LAUGHTER
42:40Look, as a front man for all of this, he's irresistible.
42:44Yeah.
42:45He's slick.
42:46He is a nice guy.
42:47Right, let's move on to the pie man, which is Phil.
42:52And this has got to be one of the first businesses you've investigated where the pie charts
42:57are actually pies, aren't they?
42:58LAUGHTER
43:00I've looked at his accounts of his company, and they were quite impressive.
43:06So I think he made a lot of money in one year, I think about £400,000 or something.
43:11And now, from what I can understand, that he made a loss.
43:15Yeah.
43:16Really and truthfully, I think he expanded the last shop on the basis of the success through
43:22the pandemic, and I think he's over-expanded.
43:25OK.
43:25How do his pies stack up price-wise?
43:29It's about a tenner.
43:30So that's not bad.
43:31But how does that stack up with the competition?
43:33So in terms of quality pies, that's up pretty well.
43:35Because it seems to me, following on from what Linda had to say, to get out of this trouble,
43:40he's got to put his prices up.
43:41He has to.
43:42Well, everything else has gone up, and food, hasn't it?
43:44Yeah.
43:45So I think his prices haven't seen an increase for quite some time.
43:48So he's taking his eye off the ball.
43:49He hasn't seen a set of accounts for six months now.
43:53I mean, I found that a remarkable thing to hear.
43:56Absolutely.
43:57And worrying as well.
43:58Right.
44:00Well, look, once again, thanks a lot for your input.
44:03I'm going to call them in shortly, and then I'm going to decide which two of them
44:08are going to be going forward into the grand final.
44:19Could you send the five candidates in, please?
44:33Now, you may have found yesterday quite a difficult day.
44:38It is a difficult day.
44:40So, look, we'll start with you, Trey.
44:43Now, from what I've understood, you've come up with this testosterone booster, yeah?
44:49And when I've read about it, it sounds like something that Lance Armstrong
44:52would have in his bathroom cabinet, you know?
44:55So, give me the sales pitch.
44:57Buy a bottle of Trey's man juice.
44:59What's it about?
45:00I mean, it's literally a functional shot.
45:02It's a different way to absorb the nutrients that you need.
45:06OK.
45:06You want to get £250,000 from me to start this business, a business which, with the
45:12greatest respect, you have not described properly.
45:14Where's the, you know, bag of gold at the end of the rainbow?
45:17I know.
45:18I definitely held my hand up.
45:20I could have put more detail.
45:20Well, no balance sheet, no cash flow, no manufacturing costs.
45:24So, I must admit, maybe there's an element of naivety on my part that I didn't put that
45:27level of detail on it.
45:28You make statements like, in year 2030, we're actually going public.
45:33Well, it wasn't, my idea for it wasn't just a shot.
45:36It was actually a wellness brand.
45:37It was a lot bigger than just a shot.
45:39OK.
45:39I would never just...
45:40So, you were going to add other things onto it?
45:42Add a ton of other stuff into it.
45:43Am I getting this wrong?
45:43You've got a song called Show Me The Money.
45:45Oh, God.
45:46Is that yours?
45:47Yes, it is.
45:47Now, hold on.
45:47Well, it's very appropriate, isn't it?
45:49Show me the bleeding money.
45:51Show it to me.
45:52God, my own song.
45:53I don't want you to sing it either.
45:55I'm definitely not singing it.
45:58Now, Phil, I suppose I asked them to find out whether your business plan was full of any
46:04porky pies.
46:06But what we don't seem to understand is that 2021 or something like that, you made about
46:14£450,000 profit.
46:16The year afterwards, you made about £100,000 profit.
46:20And then this year, I think you've made a loss.
46:23I think the reality is last year, the food industry was very, very tough for everybody.
46:29But the thing is, is that when you've got escalating costs happening by the various external
46:35phenomena, you should be going up also.
46:38That's where you're losing money, I think.
46:39You're making it sound like we're losing money and I have no control.
46:43You are losing money.
46:44You are.
46:45You are.
46:45I have to sit down.
46:45You see, I've got four of my guys.
46:47They all felt you were out of touch.
46:50You didn't know what was going on.
46:51But did I read it wrong?
46:52No.
46:53Yeah, I think they were pretty shocked that you hadn't seen your own accounts and you
46:56didn't know your margins.
46:57I suppose the answer to that would be, look, I've worked out how to create a profitable
47:01business.
47:02I think I've shown that and obviously I don't understand.
47:05I don't want to rub it in, Phil, but you're not profitable at the moment.
47:10So, Flo, you want to be a recruiter?
47:14Yes, that's correct.
47:15OK, and you must be aware of the fact that I have three recruitment companies already
47:20and they've all started from scratch, OK?
47:23So, that's why I have a bit of a problem with you talking about blowing the money in
47:28the first three months.
47:29The reason why the overheads are so, I guess, high in year one is because I'm hiring more
47:34senior staff.
47:35So, look, here we are and it's next week and you've won.
47:42We formed a company.
47:43Yes, Hathor.
47:44Who?
47:45Hathor.
47:46The Egyptian goddess name.
47:47So, I hope it's not a pyramid scheme you're thinking of.
47:50You know that there's two types of recruitment.
47:54There's the permanent recruitment and then there's what we call the temp stuff.
47:58The temp stuff requires you to have deep pockets.
48:02That's correct.
48:02Now, where are you going to get that money from?
48:04So, I spoke to a bank and spoke to talking about a debt facility, a revolving credit
48:08facility.
48:08But Flo, you've gone to a bank and what have you asked them?
48:12To lend you money?
48:14Yeah, so, it is a friend of a friend of a friend that I spoke to.
48:17I haven't officially presented something to the bank yet.
48:19Well, I'll speak to this friend if you're giving money without any equity.
48:21But that was the question I asked.
48:22Could I get his name?
48:23It was the question I asked.
48:25How much trading history do I have to have before I go and get a debt facility?
48:29Exactly.
48:29I mean, the bank's not going to give you anything unless there's some kind of trading history.
48:35Anyway, Rachel.
48:36Yes, Lord Sugar.
48:38You want to expand your gyms, right?
48:41I do, yes.
48:42You're up north there, aren't you?
48:43I am indeed, yes.
48:44You want people to get ripped in Rippon, right?
48:49That could be a new tagline for sure.
48:51What's your turnover?
48:52I think about £250,000.
48:54Is that right?
48:54Yes.
48:55There's no evidence of that, though.
48:56There isn't.
48:57The accounts aren't made up for year-end 31st of March 2023.
49:00But just as a basic insight, revenue was £250,000.
49:04And then £100,000 profit once all my main things like rent, staff wages, utilities,
49:09marketing, etc.
49:10And then I took a £50,000 wage out of that as well.
49:13So we ended on £50,000.
49:14Really?
49:15Yes.
49:16So your turnover was definitely £250,000?
49:18Absolutely it was, yeah.
49:19In both gyms or one gym?
49:21Just Leeds.
49:21That's just Leeds.
49:22And when does Harrogate kick in?
49:24Harrogate opened mid-January.
49:27We're turning over £10,000 a month, but it needs to be turning over £20,000.
49:31Hmm.
49:32But you don't have subscriptions, right?
49:35So you have a choice.
49:36You can subscribe as a member or you can pay for a pack of passes up front.
49:40Hmm.
49:41Now, Paul, you've got a successful dental practice, is that right?
49:47I'd say so, Lord Sugar, yeah.
49:48Yeah.
49:49Now you want to do this ridiculous idea of scrubs.
49:53Well, Lord Sugar, you know, when you sent us to the interviews yesterday,
49:57all four of them actually unanimously agreed that I should be reflecting
50:01over the last 12 hours of how I could propose.
50:03It's entirely up to you.
50:05It kind of started to dawn on me that actually it's not very...
50:08It was almost delusional.
50:09So I'll be on to discuss?
50:11Yeah, yeah.
50:12I'd love to be able to...
50:13I mean, the most important thing about me being here today
50:15was to be able to be in partnership in some form with yourself.
50:18Hmm.
50:18OK.
50:18Well, this first clinic that you have, this is the one you took £140,000 out for
50:26to buy it, did you?
50:28That's correct.
50:28So you've got a debt there?
50:29There is a debt there, yeah.
50:30They haven't seen a business plan of what your profits is on dentistry, have we?
50:35Unfortunately, there isn't that Lord Sugar.
50:36Well, you should know.
50:37A man who's as astute as you, you should have the numbers on the tip of your tongue.
50:41I do, so...
50:42So what are they?
50:42So I would say it's about £65,000 net profit and about £150,000 in turnover.
50:48So what do we do with my £250,000?
50:50So Lord Sugar, I've only had 12 hours to think about this.
50:54However, as an idea...
50:55I'm sorry to sort of...
50:56I know, no, no.
50:57You jarred your...
50:57No, no, it's not your fault.
50:58Your nerves.
50:59It's not the first time that a contestant has got into the final five and they kind of
51:03did a quick switch.
51:06Yes.
51:07There is a second dental practice in Pudsi.
51:10We'd use part of it for the deposit for Pudsi.
51:12And then we'd also use part of it for a refurb.
51:14Right.
51:15OK.
51:16I'm just going to summarise here.
51:18And listen, I'm not going to waste your time and my time anymore, Trey.
51:23You know, I've always said to people in this process, you will learn as you go along.
51:28And that includes me.
51:29And I've learnt as I've gone along.
51:31You are a good bloke.
51:32Your business is not up my alley, mate.
51:35OK.
51:35So it is with sincere regret that you're fired.
51:40Thank you, Lord Sugar.
51:42Thank you, Tim.
51:43Thank you, Karen.
51:43And keep in touch.
51:45I will do.
51:50Here's the way I see it.
51:52Flo, I think you've underestimated the difficulty it's going to be in starting from scratch.
52:01Don't get me wrong, I know how hard it's going to be.
52:03It is going to be hard.
52:04I've worked hard.
52:05And I'm leaning towards Flo saying that I'm going to have to let you go.
52:11I'm sorry about that.
52:12And I do wish you very, very well that Flo, you're fired.
52:18Thank you very much, Lord Sugar, Baroness Brady and Tim.
52:20Thank you so much.
52:21Please keep in touch.
52:27Right.
52:28All right.
52:29So would you three kindly step outside for a while?
52:39So, Karen, what do you think of Paul?
52:42Look, I think with Paul, because he scrapped the business plan he came in to get investment
52:46for, he's now offering you his dentistry practice.
52:49You really need to understand the numbers because none of us have seen them.
52:53And what about Rachel?
52:54Rachel's been really clear to tell you that she's turning over money and she's making profits.
52:58But there's no evidence of that.
53:00So it's a big worry that that's not there.
53:02Phil, what have you got to say about him?
53:04Look, I like Phil and he clearly has a good business.
53:07But my issue is he's come in with a business plan that doesn't include a profit and loss.
53:12And I don't think he understands where his losses are coming from.
53:15And he certainly hasn't explained how he's going to turn those losses around.
53:19Hmm.
53:19Thanks for that.
53:22Could you send the free candidates in, please?
53:35Um, there's something strange about you, Phil.
53:38What I can't get my head around is, is that you don't know your numbers.
53:42How can I go into business with someone who doesn't know his numbers?
53:46Uh, Lord Sugar.
53:47Um, I, I admit that there was quite a lot of financial information left out of my business plan,
53:53which I think has led everyone to believe that I'm kind of ignorant when it comes to the numbers side
53:57of it.
53:58But I know the nuts and bolts of the business.
54:00I've made the pies for years.
54:01I've done the washing up.
54:02I've served customers.
54:03I do not have the vision to take it to the next level.
54:05And I genuinely believe that the answer to that question is sitting in front of me.
54:10Rachel, try to convince me why you should be my business partner.
54:15Um, in the first year, I turned over £85,000.
54:18However, for six months of that year, we were closed because of the pandemic.
54:21Um, and now I've turned it into a profitable business.
54:23And I've got a model there that we can copy to other cities, to other locations,
54:27which I believe is successful.
54:29And with your mentorship, I will put my all into this as I already do.
54:32I'm willing to learn and I will continue to put my entire life into it.
54:35Paul, you now have had, um, 13 hours to think about things instead of 12.
54:41Can I just make it very clear that we are talking about a 50% partnership with you?
54:47Yep.
54:47For a quarter of a million pound.
54:49Mm-hmm.
54:49Right?
54:50Yeah. It's a 50% partnership with myself in the second practice.
54:54So not your existing?
54:55No, not the existing first one.
54:56Um, because I do believe that has grown to its full potential personally.
55:00No, no, no, no, no.
55:01So that's where we're misunderstanding each other here.
55:05You paid 140,000 pounds for the first business, right?
55:09Yes, that's correct.
55:09Okay. It's running at the moment and you want another business, right?
55:13And I'm talking about wanting a 50% partnership in your total dental business.
55:20Mm-hmm.
55:20If that's not on the table, then it's of no interest to me.
55:24If I'm being honest, Lord Sugar, um, I wouldn't be able to do that.
55:31Right. Okay.
55:36With that said, Rachel.
55:39Yes, Lord Sugar.
55:41Congratulations.
55:43You're in the final.
55:46And Phil, so are you.
55:49Thank you very much, Lord Sugar.
55:53Paul, wish you well, but unfortunately, because you're not prepared to share the whole business with me,
55:58I'm afraid to say that with great respect, but you're fired.
56:04Lord Sugar, Tim, Baroness Freddie, it's been an absolute pleasure.
56:07Thank you very much.
56:08Keep in touch.
56:21Right.
56:22Well, congratulations, you two.
56:24You're in the grand final.
56:26And one of you is going to be my business partner.
56:29Off you go.
56:30Thank you very much, Lord Sugar.
56:32Congratulations.
56:33Thank you very much.
56:38Told you.
56:39Please.
56:41It's incredible to come third.
56:43I've learned so much from Lord Sugar, Karen and Tim,
56:45and it's been such a pleasure to be on the other side of the table for me.
56:49Rach, I am so excited.
56:52I can't actually believe what was just happened.
56:54What the hell?
56:54I am in shock.
56:56I genuinely cannot believe that.
56:58It's the pies versus the gyms.
57:02Now, two candidates remain.
57:05The search for Lord Sugar's next business partner is nearly over.
57:12Next time.
57:13For your final task, I'd like you to launch your new businesses.
57:18Gyms.
57:19Oh, blimey.
57:20I feel like a mummy.
57:21OK, kick.
57:23Or pies.
57:27Only one can win.
57:29You're going to be my business partner.
57:31Once.
57:32One.
57:33Once.
57:34Two.
57:44One.
57:48One.
57:50One.
57:51Another.
57:51One.
57:53respecting Mary.
57:53One.
57:55Two.
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