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00:06previously i want you to create a new dog food megan led the pack
00:13but fumbled on flavors i done that right that looks very very slimy at the minute
00:18danny and simba battled over branding i just feel like we're just wasting so much time on
00:23but it's so it's going to be so boring otherwise and their dog food fell foul of the buyers
00:28there is absolutely no texture in there at all on the other team rochelle was head chef
00:34while victoria and marnie cooked up a concept what about chef barking i just don't know whether i
00:39prefer mr waltz but failed to hit the mark that's not premium that is not gourmet in the boardroom
00:48they placed a very small order of a thousand units victoria was top dog
00:55danny was in the doghouse what you produced was total garbage but it was simba it seems
01:02to me that no one listens to you who went walkies you're fine now five candidates remain to fight
01:10for the chance to become lord sugar's business partner
01:23one last chance to make it to the final hello good morning lord sugar would like you to meet him
01:30tomorrow morning at high low east london please bring your business plans
01:39girls it's interview time i don't know about anyone else but my stomach just dropped
01:45i'm actually so scared about being in an interview because i've only ever been to one interview
01:50you know you know what though guys no one knows this subject better than you
01:54so whatever questions they ask you're the only person that can have the answer for it i think
01:59we just have to plan and prepare as much as we can should we go read our business plans yeah
02:03let's
02:03go yes for the final five one day to brush up on business plans year one revenue 133 000
02:14year five 240 000 pounds in profit i grew up in a caravan so it just goes to show that
02:21know where you come from or who you are no dream is too big to chase
02:28court advocate marnie swindles is hoping her love of boxing can help her turn pro
02:35i'm going to approach these interviews exactly how i approach every fight in the ring
02:39always being the aggressor and rolling with every single punch
02:45hair salon owner rochelle ray anthony has been running her business for 10 years
02:50this is the most important interview of my absolute life and i'm so prepared and so ready
02:56to show them exactly what i'm made of perfect 120 up my children would be so proud of me for
03:04even
03:04just getting this far this investment would be honestly life-changing for everybody
03:09i have never written a business plan ever i didn't go to university i've never written a dissertation
03:15this is the first time that i've really written something that's long form text
03:20former flight attendant victoria galborn hasn't let her lack of business experience stop her from
03:26launching an online suites brand we are uk's most instagramable pick and mix i have to prove to the
03:32interviewers that i know what i'm doing in my business and i'm seriously here to make money
03:38i've definitely got my eye on the prize i just need to stay focused and remember that i have a
03:43really really solid business 25 year old dessert cafe boss megan hornby is hungry for a taste of the big
03:52league the 250 000 pound investment would take me 20 steps ahead of where i am now and that's the
03:58goal
03:58i want to get to the top as soon as i can and i'm going to do everything i can
04:02to get there
04:07i'm no good at numbers but i know how to run a business and i know that obviously money needs
04:12to keep going up so as long as the numbers are going up and not down then i'm happy
04:18danny donovan wants to grow her hair extensions business projected to generate sales of 394 000
04:25into a nationwide concern losing has never been an option for me to be perfectly honest with you
04:30i'm fearless and i'll take a risk and i think that's what puts you in front of everybody else
04:406am
04:44this is it it's interview day time to shine guys time to shine yeah we've just got to get up
04:51get on with
04:52it and by the time we go to sleep tonight it will be done ready ready for a roasting let's
04:58go
04:59i don't really know what to expect the thing is with me in court i'm usually the one asking the
05:04questions first impressions always count hair done shoes polished teeth clean we're good yeah i'm sure
05:13they're gonna have a lot to say about our business plans they might be tough but so are you
05:22going to have a lot to say about our business we're going to have a lot to say about our
05:27business
05:27someone's actually going to get 250 000 invested into their business
05:32i mean whoa i know it's amazing really it's life-changing i think for all of us
05:40girls imagine if karen's on the panel like that would make me so nervous well we're here now if
05:45you go through hell keep going
05:50destination hilo a 28-story skyscraper in the heart of east london
06:13good morning good morning good morning lord sugar now as you know i've already invested
06:20nearly 3 million pounds in 11 winners one of you will be my 12th investment i'm gonna risk another 250
06:31000
06:31pounds of my own money on one of you so it's time to find out whether your business plans stack
06:39up and
06:40today i'm going to put you in front of four very trusted advisors so hand your business plans over to
06:49karen and tim
06:58okay so everything clear yes good something a bit special this year i'm pleased to say that baroness
07:06brady will be one of my advisors i don't know why you're smiling okay off you go thank you
07:19lying in wait hunting the truth behind the headlines publishing pioneer mike suitor
07:28something in this business plan that's put me in a really bad mood there are a number of completely
07:33unsubstantiated claims in here taking no prisoners business titan and global entrepreneur baroness karen
07:41brady your sales are wrong your costs are wrong if you were reading a business plan that you expected
07:48someone to invest in wouldn't you expect some detail around that
07:54pouncing on any errors founder of an international design agency linda plant
08:01you're opening just a normal gym it's got no usp whatsoever everywhere i look it's a non-starter
08:10finding flaws in the figures lord sugar's longtime friend and business associate claude litner the
08:17numbers are so poor it's impossible to understand anything what's the shop fitting you've got zero
08:21you've got zero nothing zero zero zero this is hopeless i don't know about anyone else but now
08:28we're here and we've handled our business plans i am a bit nervy scary how do we feel about karen
08:35on the
08:36panel i am terrified of karen she's so hard based oh well i think she's going to be tough cookie
08:43isn't she yeah she is okay there go girls good luck bye oh it's never easy having to go first
08:52poor danny i think she's really nervous i've never heard her speak so slowly and quietly i hope claude
08:58it isn't too hard shall i let's start off by you just briefly explaining your business idea um
09:08i fit in hair extensions um and the business that i've put forward is basically um to buy
09:15and sell the hair to other businesses um and other salons okay so what kind of turnover and profit
09:22are you making from your existing business i would say it probably takes around
09:28maybe 150 to 200 000 pounds a year and then what about profit then what can you can you
09:33give me some idea of profit that would be profit yeah no no that wouldn't be profit that's turnover
09:38no oh okay sorry i'm no good with this but hang on a second hang on a second even somebody
09:42who's no
09:43good with numbers knows the difference between turnover and profit you know i'm not being funny but
09:47sales is different from profit you're nodding but i don't know whether you're yeah no i am
09:53understanding what you're saying it's not acceptable so 250 000 pounds is the investment
09:58so i mean as i've read it looks like 84 of it is going to go on these hair extensions
10:03that makes no
10:04sense yeah see the problem is with hair is you never know what you're actually going to need so
10:08it's really hard to judge it because there's so many different colors so many different lengths i mean
10:12it just doesn't seem logical to me you're putting all lord sugar's investment pretty much into
10:18masses of hair that you don't actually know whether that's going to work yeah i think we've come to
10:24the end come on danny he gave it a good grill in the numbers were bad but there was nothing
10:35positive
10:35to take from that whatsoever oh wish me luck girls good luck you got it
10:44she's always so composed or so poised so elegant and classy everywhere she goes
10:50just hope she can hold it together in there she's a tough cookie victoria so i'm sure she'll be okay
10:57good afternoon it's nice to meet you afternoon so victoria would you like to explain your business
11:05in a nutshell so currently i'm running an online pick and mix company but i'm hoping to use the
11:10investment to start kiosks okay so you set up the business following a five-year career working as a
11:20vip flight attendant how does that skill translate into the pick and mix industry
11:27i actually did placing of the first class food to make sure that it was up to the standard of
11:33the airline and deliver that to the customers i know but it's not related to pick and mix is it
11:37yeah no so it doesn't have any relevance but then you go on to state there's a gap in the
11:43market but
11:45i think there is absolutely no gap in the market for pick and mix it's absolutely saturated it is
11:53definitely a saturated market but with my well-presented boxes that's where i found the gap in
11:57the market and i think with the growth of the company in six months i think that shows that
12:01people like the presentation of the boxes i know but i think your best chance is keep the pottage
12:07industry let it grow slowly i had a company that wanted to order 5 000 boxes off me so they
12:13want
12:13them for the corporation industry going back to exactly what i said let your cottage industry
12:18grow and you know what if it's no good the airlines they need good stewardesses at the moment thank you
12:30oh she doesn't look happy oh gosh oh
12:34i mean she was savage really at one point she told me that i could
12:40get a job back at the airline um what why she said that my business was a cottage business so
12:48yeah well it's my turn i don't let you girls know how it goes good luck girls get your gloves
12:54on mums
12:56the person i'm least worried about going into these interviews and who i think will really
13:01hold her own is money she's a court advocate she's used to arguing her case and she can definitely
13:06fight her corner
13:14marnie explain to me the business that you would like lord sugar to invest 250 000 pounds in
13:20my business is in boxing gyms the name's bronx and the idea is to create a middle market option
13:27between the high-end boutique gyms and the low-end spit and sawdust gyms okay so the chain will start
13:33with two locations one of which you've already secured in camberwell in south london and after
13:38that you want to open a gym right in the heart of the city of london near the bank of
13:41england correct
13:42that's correct okay so here's a map of the city of london there are 21 gyms within a one mile
13:54radius
13:55of the venue that you plan to open up another gym
14:01yes so what it does show is that there is a real market in this area i'm i'm not i'm
14:08not afraid that's
14:09ridiculous it doesn't show that this is a great place to open a new gym it says to me probably
14:16you're a bit late so i do still think i'm sorry there's one there's one across the road from you
14:21which has the word box in its name it doesn't carry that authenticity and substance it has an olympic
14:28sized boxing ring in the middle of it you cannot tell me it's got nothing to do with boxing that's
14:33not
14:34true i think if you launch there you are throwing yourself to the lions
14:41so rochelle let's just kick off with you telling me briefly um your business idea so i currently
14:47have a hair salon and i've just launched a hair academy the idea is to create a further additional
14:52two locations one in manchester and one in london how much you're going to spend of the 250 000
14:58all and all that okay so um i do have that in there yes you don't completely know off the
15:04top
15:05of my head but it you know it's about 25 000 for the fit out let me just bring you
15:11down to earth for
15:12a moment because when i look at your numbers they don't make great reading i wanted to be realistic
15:17claude as well you know i'm not going to sugarcoat anything or pull the wall over your eyes well you
15:22won't be able to do that don't worry i just i don't know how you're going to go from the
15:25business
15:26that you're doing at the moment with turnover of 150 000 to your next venue where you're going to
15:32make 1.5 million in a year it's implausible i completely respect you know you are the numbers
15:38man no no it's just logic it's just not about numbers it's just it's common logic and you know
15:43even if it took a year to get there it would definitely happen because i'm so determined you've
15:48done something that just seems not ambitious but reckless
15:55well girls it's my turn now any last words of wisdom just take a big deep breath
16:01and just to try and just articulate yourself as best as possible yes wish me luck girl you go girl
16:10i think if megan has a bad time in this interview with karen it might really knock her confidence
16:15if she doesn't get a good interview with her
16:21afternoon baroness brady
16:25so you're a sweet shop and dessert parlor during the day and your cocktail bar in the evening right
16:32over my 30-year career i have seen thousands of business plans and i gotta say your one
16:41is about as crazy as it gets it's got no depth it's got no substance it's only 14 pages long
16:49why hasn't it got any substance so about four weeks before i actually came into this process
16:54i opened my new venue so i was absolutely swamped up to my ears in work trying to get prepared
17:02so you
17:03put together a business plan that you want lord sugar to invest in and give you a quarter of a
17:08million
17:09pounds and you couldn't be bothered because you were too busy it's not that i didn't take it seriously
17:13i completely take it seriously you don't take it seriously megan this is rubbish you say you're
17:19going to have a turnover of 600 000 pounds yes but you don't explain how i honestly don't think that
17:27600
17:28000 is is is not realistic well i do and on that note megan thank you thank you karen
17:35it's uh baroness brady to you baroness brady my friends call me karen
17:46it was horrible i got absolutely ripped to shreds i accidentally called her karen when i walked out
17:55she went it's baroness brady to you savage yeah well that's one down three to go
18:15good afternoon linda
18:19so victoria assume you were to prevail how do you think you're going to use uh
18:23lord sugar's investment um so it would be for the first year rental of the kiosk which would be
18:28the 90 000 what i've got here written is that it's going to be um seven thousand five hundred pounds
18:34a week as the kiosk rental now seven thousand five hundred times 52 is not 90 000 it's 390 000
18:45you are 300 000 adrift yeah sorry i should have put in the section where it said that they did
18:53a
18:53discounted rate for if you signed a contract for over a year discounted rate might instead of 390
18:57000 might be 375 000 it's not 90 000 also i mean the thing is that what you've got in
19:03your business
19:04plan is zero stock how do you plan to do nearly a million pounds when you've got this kiosk that's
19:14the first year of trading you've got no stock where do you get the stock from and that was a
19:17mistake when
19:18i was doing the business plan so hang on a second hang on a second a mistake is not credible
19:23i understand
19:25and i do apologize about that the way when i originally worked out for the orders so i was
19:32what you're proposing is nothing short of absurd victoria i think we've come to the end thank you
19:48do you really really believe it's a usp yeah because i think the association comes with obviously
19:54mermaids live in the sea so if all of the branding is themed around what mermaids have you ever seen
19:59a mermaid no i know they don't exist but typically they don't exactly they don't exist no but i think
20:04do you think your usp exists yeah i think it really does because because i feel like it's something
20:10a little bit different it's a niche that i can really play on all the branding is themed around
20:13holidays and i thought that makes people feel good being on holiday looking good be really honest
20:19it's not really a usp is it be honest i think it is something that people would really buy into
20:25be honest do you think if you put a sign up and said usp mermaids do you think you'd do
20:30any business
20:31yeah all of my customers do leave feeling like a mermaid they love the association what mermaid there's
20:36no such thing as a mermaid it's rubbish it's rubbish you haven't really got a usp have you i would
20:42say
20:42that i have and it's definitely no you wouldn't you say you have but it'd be a lie because you
20:46haven't
20:46have you here she comes i'm smiling because that's all you can do it was just hilariously bad
20:59like this and she said that mermaids don't exist who wouldn't want to be a mermaid because i definitely
21:09don't so rochelle the floor plan for your proposed salons is just over 50 meters square you say that
21:16they will have a luxurious environment do you know how small that really is um i don't i think with
21:23a
21:23hair salon you don't have to have vast spaces it's the size of three parking spaces oh you'll have six
21:30stylists six customers three assistants and one manager in there at any one time 16 people plus
21:39all of the chairs and the stations and the equipment that you need there and that's luxurious
21:45i do probably need to reassess those numbers and make sure that it is a bigger space because
21:50that would be too small there are quite a number of things in this business plan that you're now saying
21:55oh in hindsight i'd have just trying to slip out of it by saying well rather than take responsibility
22:00for saying well you know what i didn't really think that through properly absolutely mike and
22:04that is definitely something that i will work on and make sure that i get fine-tuned okay all right
22:12thanks for your time thank you so much for your time have a lovely day
22:20monny you have got loans and grants right tell me about those i have secured 200 000 pounds by way
22:26of
22:27grant 150 000 pounds from sport in england uh 50 000 pounds from london marathon trust and i've secured
22:33a hundred thousand pounds interest-free loan from sporting assets you had this money i i will have it
22:40when i get on the outside yeah you say you will have it i sat on the board of sport
22:43england myself for
22:44five years money doesn't come quickly yeah it it has already been agreed i have um a letter of
22:50confirmation what i don't have is a signed lease which is what they need in order for me to draw
22:55down
22:55those funds so we're going to do if they won't sign it this has been an ongoing process for around
22:59three years it was a property that wasn't even on the market i approached the council for it
23:04i'm putting in so much money's worth of renovations into this building it absolutely will be signed
23:09it's not signed and that is a concern because you're coming in with this proposal based on the
23:15premises that you don't have any rights over and domain grants if you don't have the premises thank you
23:21thank you here she comes how was it yeah it was okay it was okay yeah um i admire her
23:32so much
23:33she is to football what i want to be to boxing and i'm really sorry but i've got to go
23:38all right bye guys
23:44good afternoon linda hi megan so it's a bit confusing what are you are you up on your
23:53orientated cafe serving kids or are you a cocktail bar i think i'm all of the above do you think
23:58you
23:58can be all of the above well obviously there are a lot of bars that combine you know cocktails with
24:04tapas
24:04or cocktails yeah but you're not that you're like families by day groovy bar and dj bang like
24:10personally i think it's a terrible idea i don't think it's unrealistic i do i do so expanding into
24:17alcoholic beverages is a whole new ball game right you're going to require a liquor license yeah yeah
24:25do you know how long it could take to get a liquor license i'm currently working on one for my
24:29whole
24:29branch at the minute it can take anywhere from three months to two years to obtain i still believe
24:36that this can work it's a great business it's working and i want to add cocktails good for you
24:40what you're telling me is i'm going to be a jack of all trades but i believe you're going to
24:45be master of
24:45null you want to open your second site in london in fact in belgravia i live in belgravia
24:57and i've got to tell you it's very expensive and you say that to rent out a salon in belgravia
25:05it's
25:06going to cost you 130 000 pounds a year where have you got that number from so that was um
25:13i did actually resource that find the average price you can't afford it the cheapest one i
25:18could find at the space the small size you say you want is 230 000. i'm you know i'm not
25:24completely
25:26out of my mind i know exactly what is possible i think you are out of your mind i mean
25:31you say this
25:33belgravia salon you're gonna have is gonna be full of highly trained stuff right but in your business
25:41plan you're paying your stylist 12 pound 50 an hour yeah so a lot of styles work on commission and
25:47tips
25:47so that is also factored in at a separate costing and it's ludicrous but honestly that
25:54isn't a reflection on me you know it is a reflection on you who else is a reflection on
26:02myself yourself thank you for your time baroness brady have a lovely day
26:11what's confusing me is that um i don't i don't see where lord sugar's involved in your existing
26:18business what i'm proposing to lord sugar is to invest in the brand and to open a new branch of
26:24it in a different location the trouble is that from lord sugar's point of view without throwing in the
26:29whole business what's he buying he's buying nothing it's the new branch is what i want him to invest in
26:34i want him to there's nowhere here where you've actually identified what the new model would be
26:39what far well for shop fit the shop fit should be 48 000 i believe the thing is how many
26:46really
26:47this is not my document no no i know sorry yes shop it was 72 assets was 48. okay but
26:52it's a jumble
26:53where you don't know you don't know yourself how many people do you need how many people i should
26:57should need should be about eight it's very very interesting you're telling me this but it's not
27:00i can't see any i can't see where it's costed and then after all that okay you you've got a
27:05measly
27:06a measly profit so you know you say so that's an error down there well another one the numbers aren't
27:13a hundred percent hundred percent no no no no no let's be fair they they are awful these numbers are
27:19meaningless you've shot yourself in the foot here this is this is hopeless
27:26how are you feeling um sad actually oh why because he just said that
27:37there wasn't enough there the numbers they just weren't broken down enough to be investable
27:43he literally said this is this is a pile of crap
27:57good afternoon good afternoon marnie good afternoon mike it's nice to meet you
28:03there's something in this business plan that's put me in a really bad mood
28:07there's a confidentiality agreement at the start of your business plan
28:11why would you put a confidentiality agreement at the start of a business plan that you want
28:16somebody to read and comment on to be honest i didn't even think about it was in the template
28:21that i should have removed i am sorry if that's upset you look i've signed it and i've dated it
28:26so you had better counter sign it or we will be finishing this interview immediately
28:31where did you want to say here well it's your confidentiality agreement
28:37i'm sorry if that's up to you okay you're going to invest in digital marketing to reach millions of
28:44customers and boost sales is that correct that's what i'd like to do yeah okay what's your marketing
28:49budget uh 10 000 pounds oh so with 10 000 pounds you're going to reach millions of customers and boost
28:56sales well maybe that was very under ambitious to be perfect with you but i mean maybe under ambitious
29:03it was very under ambitious i i know no no no it's very ambitious very reaching reaching millions
29:09of customers with 10 000 pounds is not only very ambitious it's completely unrealistic yeah
29:20right so presently you are the owner of bronx boxing limited now you're going to give up your legal
29:28career and you are going to be the manager of the club the manager the owner um and the person
29:34that's
29:34going to build it and make it big marnie you haven't ever run one gym i want to really impress
29:41upon you
29:41that i well i'm going to tell you all right well i'm going to tell you something if you understand
29:45the market coaches right trainers are an integral part of a gym that much i know but using your model
29:52the staff won't be paid basically services will be performed free for the gym access in lieu of wages
30:00do you really think that's a proven model of success i seriously doubt that no it's not the
30:06but what they do have is they have access to all of the clientele that use the gym in order
30:11to build
30:12up their pc to build up their own clientele and say bye bye marnie it's mutually beneficial no you have
30:17not convinced me today that your business in its present form is in any way investable i'm sorry you
30:26can't see in it what i can thanks linda
30:33i am riled i am so fired up really oh my god what happened you know this is my industry
30:42and i am more
30:43than happy to be educated and guided on business but don't tell me about boxing because that is one
30:48thing i know like the back of my hand you do know what you're doing and if you and linda
30:52got in the ring
30:53she'd be gonna good afternoon baroness baby hello victoria
31:08looking at your business plan i mean it's got so many holes in it hasn't it but you haven't included
31:14any staff costs when i put the numbers in i definitely put the staff costs in there i've
31:19been through it with a fine tooth comb and i can't find it in anywhere okay if the numbers add
31:25up that
31:26there's no staffing costs in then that must have been a mistake on my behalf but a mistake i mean
31:30who's gonna be working these kiosks the tooth fairy no i did actually try and cost five staff members so
31:38it was myself um another manager and then two key are two employees per kiosk as well um there isn't
31:47there isn't there isn't that was that was definitely a mistake i mean it's a pretty big mistake isn't it
31:56it is because this is hugely disappointing
32:21it's just hard because it is something that i've worked so hard on and i definitely will
32:25be going back and checking numbers so thank you for bringing that to my attention thanks victoria thank
32:45you
32:49tell us everything what's going on she just said that she
32:55she was like really disappointed in me you are amazing and always remember that i cannot tell you
33:00how much all of us admire you and i know she's saying she's disappointed in you but we know the
33:05real
33:16so a new salon every six months fairy tale yeah fairy tale expansion you can't open a salon every six
33:25months can you well i only have the aim to do three and that would be an additional two is
33:30the one i
33:30already currently have so it would be london and then manchester but you wrote you want to open a
33:35new salon every six months and you want to have ten salons yes but that is in the five-year
33:39plan that
33:39i want to focus on those three but you did write that you want to have a new salon every
33:44six months
33:45it's a pipe dream it's a fairy tale it's unrealistic and it's unachievable do you agree yeah no fair
33:52enough absolutely i definitely set my aims high and it's financially impossible so what did you write
33:57it for uh because i wanted why did you write it i wanted to show lord sugar that i am
34:02an ambitious
34:02person well i think you should i think you've shown me and have shown lord sugar the paper doesn't
34:08refuse ink and you just write unrealistic rubbish that's fine no worries thank you so much for your
34:13time linda you are energetic and detail focused it says on your cv is that correct i would like to
34:22think so yes if you're so detailed focused why are there so many grammatical and spelling mistakes
34:28in your business plan um it is one of my weaknesses do you want to guess how many errors there
34:35are
34:35in the first three pages oh ten there are 33 wow did you not read over this after you'd written
34:44it
34:44um i'm not an expert when it comes to um english language um your cv says that you're self-educated
34:53yeah did you not go to school i did go to school and but i left pretty much after my
34:58gcses probably
34:59hence some of the grammatical incorrectness in my business plan okay but that doesn't mean you're
35:05self-educated though you were educated at school so let's talk about your existing business
35:12mm-hmm you say you are so confident in the products that you sell that you have a brilliantly
35:17structured online shop well had a look at your online shop and it's currently got no products to sell
35:26so i haven't actually put as much time and energy into this as what i would like to but in
35:31terms of
35:31it's disappointing isn't it the thing is i didn't actually expect to get this far so i think obviously
35:35it was a quick kind of you didn't think you'd get this far don't have faith in yourself um
35:48sorry
35:51um to be perfectly honest no i just think i do to an extent but i just think i kind
35:58of hold myself
35:59back a little bit by thinking that it's i don't know sorry
36:07i'm disappointed for you because you are out of everybody have worked so hard to get to this stage
36:15yeah and i do wish i'd put more time into it but obviously any business could be successful if you've
36:19got the right person behind it and i genuinely believe i'm the right person thank you for your
36:27story
36:30do you manufacture any of your sweets no do you use a unique distributor to get them to your customers
36:38no so what makes your pick and mix business different from all of the other ones out there
36:46and so it's the presentation of the boxes and the social media so these are yours right yeah but there
36:53are other people who do sweets exactly like this these are exactly the same as the sweets here there's
37:01no difference between this box of sweets and your box of sweets i actually believe that my box looks
37:06a lot more appealing than this your box looks exactly the same as this one i don't think you
37:11have a unique selling point that you think you have we have put in a solid shift solid shifts all
37:20around girls it has been intense but there's 250k at stake here let's go
37:56well good morning here we go again five lovely young ladies uh who have reached the final five
38:05so shall we start with um danny so currently danny has got a hair salon but what she really wants
38:12to do
38:12is to invest 210 000 of the 250 000 in a hair extension business so that way
38:19she would actually sell to third parties these hair extensions but she hasn't actually got sell them
38:24to other salons for them for them she'd be the middle man yeah yeah and i think it probably shows
38:31her naivety the truth is she's she's asking you to invest in a business that she's never practiced
38:36before and the amount of hair 210 000 pounds worth of hair is a massive amount i don't know what
38:43that
38:43translates into uh linda a set of hair extensions what would you be paying what do you mean i don't
38:49know
38:53what do you um no seriously it could be anything from 300 pounds to a thousand pounds really yeah
39:05i mean the other the other thing of course is that um not a clue about numbers when i asked
39:09her what's
39:10her turnover she gave me a turnover number and when i said what is your profit that was exactly the
39:15same
39:15the turnover number let's um let's move on you're splitting hairs now um let's talk about marnie boxing
39:25this is an a seed of an idea that she wants to do it's a bit more than the seed
39:29of an idea because
39:30she's actually made very significant inroads in terms of trying to get some capital together in which
39:36she can then start her first venture and she's raised some money she's got 350 000 secured already
39:43which only gets paid when she signs the lease on the property which she hasn't done yet so she hasn't
39:49got that money yet no i mean she's not paying her trainers she expects them to work for free um
39:55her
39:55business doesn't stack up but it could do and i think she's determined to do it it would have to
40:00be
40:00modified it would have to it would have to change because not paying a trainer and expecting them to just
40:06use
40:06the gym is a non-starter she's not going to get good quality very very naive though isn't it yeah
40:13she's never run a business before though that's why she needs you and she herself is a gold medal boxer
40:18really yeah so so the problem is she's never won a barney romani then do you definitely not okay
40:25let's talk about megan now so megan currently has one sweets shop and desserts cafe in hull
40:33her plan though is to use your investment to turn that into a chain of dessert stores and bars what
40:42she doesn't have at the moment is a liquor license yeah well she ain't getting one very soon either
40:46because it's going to take quite a while and a certain criteria in order to get a liquor license
40:51her numbers are did you tell her that no doubt you didn't hold back you told her that you've got
40:57a one
40:57page of up absolute nonsense that is just fabricated without any kind of thought can i summarize it as
41:04a cocktail of fact and fiction then yeah yeah more fiction is she turning over any money she did state
41:12on the application form that her turnover was 240 000 pounds now i don't know if that's um you know
41:18the
41:18current year you're quite right you're quite right that's what she told me that you you can identify
41:23yes so back to um hair we've got rochelle now now rochelle i believe has got a hair salon
41:32in milton keynes is that right yep she has aspirations to move to belgravia um with a courtyard salon
41:40but never mind belgravia more like barnet i would say at least but sadly she has no clue belgravia yes
41:49i tell you the problem i have with rochelle she says the business she owns with you is going to
41:52turn
41:53over in five years time nine and a half million pounds and it's just rings unrealistic it's a pipe dream
42:00my take on this is that she's been in business for 14 years um she's got turnover which is 165
42:07000 or 155
42:08so i think that she could well make a business profitable if she stuck with milton keynes expanded
42:14it um i don't know surrounding areas you've got a reputation local area good point let's go on to
42:20victoria now so victoria has an online pick and mix business what she'd like to use your investment for
42:27alan is to start opening up uh physical retail spaces which would be kiosks in large malls i know what
42:36you
42:38would actually wipes out her business oh she's got no stock no stock sorry clarify well all this
42:46business that she's going to be doing in order to achieve a first year ton of say of 130 000
42:51and then
42:51a million year two is done with no stock she hasn't bought the stock in her business no there's no
42:57there's nothing in her balance sheet it's mostly blank there's no calculation for inventory no calculation
43:03for staff which means she has nothing to sell it no one no one to sell it for her there's
43:08so many
43:08other things where she's just missing essential numbers right well thanks a lot for all of your
43:14input been very very helpful i'll keep you informed as to who the final two are
43:26yes orchard could you send the uh five ladies in please
43:42i understand you had a a real tough day yesterday meeting all of my advisors including
43:49baroness brady and those advisors really did a deep dive into your business plans all right danny
43:58yes lord sugar you're in the uh hair extension business right i am yes of my 250 000 pounds
44:06investment you intend to spend 210 000 on buying hair extensions so let's assume you do that what are
44:14you going to do with this stuff sell it lord sugar who to to salons across the uk um then
44:20i'm not
44:20basically giving a middle man the profit i would be able to put but what makes you think you can
44:24do that
44:25because i think i've got a real strong brand a real strong steam and even have you got a strong
44:29brand what is the brand so the brand is it wasn't kind of criticized yesterday but it's all based around
44:35kind of mermaids the ocean holiday because they're an association that i make when i think of
44:40long lovely hair i would think of a mermaid hmm do you know dear old claude uh he said that
44:47no idea about
44:48the numbers with the investment predicts sales and 393 000 pounds in year one how is that possible
44:57because my company itself would buy around 200 000 pounds worth of hair it hair is expensive and um your
45:05figures are a mess they're the financial equivalent of a bad hair day um you know they they make no
45:15sense
45:15whatsoever danny honestly let me move on to marnie now um marnie i don't understand the loans that you
45:26have so it's 150 000 pounds grant from sport england 50 000 pound grant from london marathon trust and a
45:33hundred thousand pounds interest-free loan from sporting assets i have a 50 000 pounds bounce back loan
45:39and 20 000 pounds direct hold on a minute i've got more loans than uh fluid's bank yeah hold on
45:44let me
45:44catch up here so all of the funding will be drawn down as soon as i sign that lease i've
45:49been in the
45:49process of doing this i've had three quotes for the works uh by the council what is the criteria upon
45:54which the sports people have lent you the money that i'm going to deliver impact back to the community
45:59so i've heard of fantasy football this is like fantasy boxing we haven't got premises yet well we have got
46:05boxing premises lined up you've got loans lined up you haven't you haven't drawn down on them
46:12at all well sugar i worked very hard to get those loans they didn't come easy yeah but they sound
46:17a
46:18bit too good to be true and you had no business experience have you not not a business of my
46:23own
46:23but as i said i've been heavily involved and i do know this industry very well megan yes lord sugar
46:29you
46:30mentioned a figure of about 240 000 pounds turnover how much profit did it make i haven't had my year
46:37ends completed yet um so i don't 100 no but the last profit and loss report that i got gave
46:42a report
46:43of about 5 000. well you see the thing is your business plan was so pathetic that we couldn't pick
46:49it up from there i really will put my hands up and say my business plan is yeah i know
46:53and we know that
46:54don't put your hands up but the point is is that i'm trying to get a straight answer out of
46:59you of
47:00what you feel your forecast is going to be in the current shop my forecast should be over the 250
47:06000
47:06pound mark and we're only making five grand well no my profit should be a lot higher because it has
47:12been but it's all talk at the moment megan so it's not because it's because you know you can do
47:17fantasy
47:17fantasy numbers you know it's not fantasy numbers because my business is proven to work i'm already
47:23proven to who the world i turned over a quarter of a million in my first year and i'm still
47:29doing
47:30you know it's badly let you down there's someone who talks as well as you and a qualified criminologist
47:36if i'm if i have to believe this year your business plan was was criminal actually definitely
47:41yeah i did myself certainly an injustice there lord sugar um let's move on um rochelle expansion
47:49into belgravia are you having a laugh aren't you really you really are having a laugh
47:56so everyone does have to start small and everyone has started small that's not starting small
48:02so so i've obviously got my current business that has been doing really well i've won local awards
48:07and belgravia is a lovely setting because it's like the country in the middle of london but also the
48:14right clientele belgravia is spot on um it is a great area but it's a quick way to blow my
48:23250 000
48:24pounds i can tell you anyway 9.4 million pounds turnover where's that come from so that would be
48:32from 10 salons eventually in 10 salons in five years no in 10 years time no 10 years i know
48:40your
48:40business plan better than you rochelle um so i would love to work on the next location and then after
48:45that quite quick concession and then actually take five years to get them running right victoria my
48:50advisors have looked at your business plan and a lot of miscalculations so i definitely got the
48:56calculations wrong when it came to the location of the kiosk yeah but that error alone wiped out
49:03the potential profits that you claimed you're going to be making yeah so it worries me that you
49:09don't have an idea about balance sheets cash flows i'm not an expert when it comes that's the first time
49:14i've written a business plan and i am young to business um but with did you write it or did
49:19you get
49:19an accountant to help you i wrote it myself oh you did yeah and but if i did use a
49:24kiosk um which had
49:25a yearly rent of 90 000 then the figures would uh stand and those would be the profits that i
49:30would
49:31be turning over but your business plan has no provision for labor for for employees yeah that was
49:39something that i how's that gonna happen how's that gonna work you're gonna give them sweets so uh as
49:44their payment no it was something that was missed off my business plan um but the plan was to have
49:49myself year one um and then three employees year two and five in year three i mean the scaling up
49:55of
49:55it that you're talking about there is doesn't look very very very clear and promising
50:02the thing is victoria that there is nothing unique about your market your business frankly um you know
50:14i'm not sweet on your idea i'm afraid so it's been nice working with you but it is with regret
50:21victoria you're fired thank you for the opportunity lord sugar thank you karen thank you tim
50:27good luck victoria good luck girl keep it as a hobby no it makes a good hobby
50:40um coming back to you danny um
50:48your business plan was really really bad it was really bad you know that i would like to hope in
50:55this process i have proved that even though my business plan might not be solid i'm definitely
50:59a solid business woman i've made a profit on a business since i was 19 years old
51:04well i'm very pleased for you about that um i'm just saying that uh it's
51:11i'm not sure there's going to be any extension to your time in this process actually so
51:18danny it's been nice working with you uh you're a real bubbly character i've had the best time
51:24thank you danny with regret you're fired thank you all for the opportunity honestly i've enjoyed
51:30every minute thank you good luck thank you thanks
51:41well ladies it's time for me to have a chat with uh tim and karen okay so if you step
51:50outside and i'll
51:50call you back in shortly okay thank you thank you let's talk about marnie i think the question you
52:03have to ask yourself is does she have the experience required to turn this passion this love she has for
52:10boxing into a business whatever she puts her mind to she usually succeeds at whether that's an advocate
52:17boxing and this might be her opportunity to turn her hand at something new and rochelle she thinks
52:23it's so scalable that she's going to be turning over 9.4 million in the next five years is it
52:28scalable
52:29and to how much that's the question you have to ask yourself okay let's talk about megan if you didn't
52:35know megan and she just sent you that business pan well you would put it straight in the bin the
52:41thing
52:41of megan is that she's got a business and she claims it's turning over nearly a quarter of a million
52:47pounds if that's true and can be verified that's a great achievement right well interesting i'll call
52:53them back in and uh we'll end up with uh two finalists can you send the three of them in
53:02please
53:14megan why do you think your one is better than any of these i think the proof's in the pudding
53:19lord
53:19sugar but there's no pudding that's the point i'm already running it at 25 years old and i really
53:25think that with your backing lord sugar your i did this from nothing i had no money when i started
53:30and imagine what i could do with with your investment and your advice lord sugar i haven't had the business
53:36experience that my two peers beside me have but i am investable and that's evidenced in the fact
53:42that even just by a business plan alone i've managed to secure 350 000 pounds worth of investment
53:48um i am such an ambitious person hence my business plan really does reflect that i'm exactly like you
53:53i like to make money and together i definitely feel that we can make money together because i know my
53:58industry at the back of my hand and you know business so you know it's an absolute force to be
54:03reckoned with
54:04well it's very very difficult ladies very very difficult there's only room for two of you
54:10to go into the finals and um rochelle you've got a business you've been in business for quite a while
54:19your experience lord sugar i haven't yet had the opportunity to show you what i can do in business
54:24so i appreciate i appreciate that i'm the least experienced here when it comes to business but
54:29that does not mean that i am the the worst option here i have only been in business for a
54:33couple
54:33of years but i think my business has a lot of scalability and it could be a recognized national
54:37brand especially with your backing yeah
54:43well
54:46rochelle um simply because you're most experienced here
54:51on that basis rochelle it is um the reason why uh i'm going to say to you that uh
55:00you're in the final well done rochelle thank you thank you so much
55:10marnie i've got to tell you this is a big gamble could come back and punch me on the nose
55:14business business is a game megan megan i've heard what you said
55:21i don't think my business isn't it's not seed of an idea yeah it's it's already proven to be working
55:27it's not it's there's no you know seed of it it's already working yeah yeah i understand what you're
55:32saying um you're making it pretty hard for me here my gut feeling tells me megan
55:43you're fired i really appreciate the opportunity and everything that i've learned here keep in touch
55:49keep in touch it's been an honor thank you guys see you soon well done well done
56:05congratulations you're in the finals but now the real hard work starts go back to the house and
56:12celebrate thank you thank you so much lord sugar thank you tim thank you very much thank you
56:26i might not have kept lord sugar sweet this time but you know what i'm going to go out there
56:31i'm
56:31going to work really hard and i know i'll be a success
56:36ah i literally can't believe it we're in the final what the hell i can't die for it
56:43marty don't cry you'll set me off michelle like it is just it's so overwhelming now two candidates
56:52remain the search for lord sugar's next business partner is nearly over next time for your final
57:01task i'd like you to launch your new business hair salons let the hairdo for talking and action look
57:08straight to the back of the wall perfect or boxing gyms let's get ready to ramble
57:17only one can win you are going to be my business partner
57:23so
57:34so
57:35so
57:49Transcription by CastingWords
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