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00:06Dragon's Den is back and open for business.
00:10I don't often say this, but your pitch was awful.
00:13You've got to be quiet for this little bit, Peter, if that's alright.
00:15Ouch!
00:16A place where budding entrepreneurs are given a once-in-a-lifetime chance.
00:21You have this most bizarre way of answering questions.
00:26Stop it!
00:27To present their wares to five Captains of Commerce.
00:31You wanted to see how credible we are, so I'm about to show you.
00:34Well, show me.
00:36Some will succeed and go on to make millions.
00:40Whee!
00:42Others will fail and leave with nothing.
00:45Make him a counteroff or tell him to shove it where the sun doesn't shine.
00:48With the occasional visit from some wealthy VIPs...
00:52I can't not give you money. I can't not make you an offer.
00:55First deal in the day.
00:58I didn't want it anyway.
00:59The hunt is on to find the next big money-making idea.
01:04Dragons are go.
01:07Tonight.
01:08I need a wreath so bad.
01:11Oh, it goes fast.
01:12You can smile in them. You don't have to act like Terminator as well.
01:15Now, lovers.
01:17You're just the whole package as far as entrepreneurs are concerned.
01:21I agree with that one.
01:22We see people that come in with just ridiculous evaluations.
01:25Tell me about it.
01:26We have been watching Dragonstone for too much and we do not want to be roasted.
01:30You've helped me out a lot, man. Like, I appreciate it.
01:32I'm gonna take Bartlett on.
01:34Good luck.
01:41And would anybody like a drink?
01:44Wow, I can't believe we're here.
01:46My name's Christian. This is my little brother, Ross.
01:48Here it is. Yeah. Hey.
01:50And this is my long-serving fiancée, Natalie.
01:53Cheers!
01:55And Nat takes care of us, doesn't she?
01:57Yeah.
01:57Not too keen on the cooking, though, are you?
01:59Just that.
02:01We're gonna be in front of these in real life in a minute.
02:05Do they look like scary dragons?
02:07No.
02:08No, they look nice.
02:10Peter Jones, this is mine.
02:12No, I fancy acquiring a sock company and competing against Peter Jones.
02:16There's a conflict of interest here.
02:18So, we know Peter is quite partial to a pair of socks,
02:22so we're hoping he really likes ours.
02:32I'm doing dragons.
02:34My name's Christian.
02:35What thing?
02:36Hi, my name's Natalie.
02:38And together we are...
02:39Standout.
02:40And we're here today to pitch for £30,000 for 25% equity
02:44in our company, Standout Enterprises Limited.
02:47In the UK, there's approximately 1.5 million adults
02:51with a learning disability.
02:53Now, as it stands today, there are as little as 5.1%
02:56of adults with a learning disability in England
02:59known to be in paid employment.
03:02Unfortunately, my little brother here, Ross,
03:04was part of that statistic.
03:06Frustrated at that fact, myself, Ross and Natalie
03:09got together and thought, why don't we create a job for him?
03:12And that was the day Standout Socks was born.
03:15Our mission for Standout is to become the leading employer
03:19for people with learning disabilities in the UK.
03:22Thank you very much for listening.
03:23I'm going to pass you over to Ross now.
03:25We're going to hand you all a sample.
03:26We hope you really enjoy it. Thank you.
03:29A business with the purpose of providing jobs
03:32to people with learning disabilities...
03:34May I?
03:35..is the brainchild of brothers Ross and Christian Lane
03:39and Natalie Dixon.
03:51They're seeking £30,000 in exchange for 25% of their sock-making company.
03:59He's your favourite guy and my favourite gal.
04:01Oops!
04:03All of you!
04:06Diplomatic catastrophe narrowly avoided...
04:09Thank you, sir.
04:10Stephen Bartlett is first to kick off with the questions.
04:16They're like Manchester United colours.
04:18So, they were sold in the Manchester United megastore.
04:21Who do you support?
04:22Manchester United.
04:24I've now got the best socks in the den.
04:26It looks good.
04:28Um, the most compelling thing you said
04:30when we're thinking about the story here
04:33was giving people jobs
04:34who have kind of been left out of the workforce to some degree.
04:37Yeah.
04:37Can you speak from your experience
04:39about how transformative that is
04:41as a value proposition
04:43or a value add to the individuals
04:45that are getting jobs because of Standout?
04:47Yeah, so, for example, Standout was born out of Covid, really.
04:51Ross moved in with my mum and dad
04:53and was shielded for pretty much 12 years.
04:57I'm going back after that.
04:58Now, Ross struggled with...
04:59After all that time away,
05:01he struggled with social skills.
05:03Is that all right for me to say?
05:04Yeah, yeah, yeah.
05:04Yeah, sure.
05:06Confidence.
05:08Always.
05:08Yeah.
05:09You don't strike me as someone lacking in confidence, Ross.
05:13You've got plenty of confidence.
05:15And then just giving anybody the value of having a job
05:19and the purpose to go and do something
05:21is good for anybody,
05:22not just somebody with a learning disability.
05:27So, how long has the business been going?
05:30We've now just finished year one at the end of January
05:32and we're now in year two.
05:34So, what was your full year's trading on that first year?
05:36So, our first year's trading,
05:38we turned over £36,158.
05:43We had a gross profit of £22,245
05:47with a pre-tax profit of £5,186.
05:53Someone spent a lot of time learning them figures
05:55to the pound right there!
05:58Oh, well done, Natalie.
05:59Absolutely.
05:59And are you full-time on this, Ross?
06:02Er...
06:02..this is Tuesday.
06:05On a Tuesday.
06:05So, on a Tuesday and a Sunday,
06:07we do, like, videos for our social medias
06:10and post to our social medias
06:11and then Ross will pack all the socks.
06:13Oh, so you're the social media superstar, Ross.
06:16He's the superstar.
06:17As well as chief packer.
06:19Yes.
06:19I love it.
06:21Do you know what?
06:22It's really interesting
06:23because, I must admit,
06:24as you can tell, I love socks.
06:28But, is this and can this be a business?
06:31Or could anybody do this?
06:33I mean, the answer for me
06:34is that anybody could do this.
06:36So, I need to find what your real unique selling point is
06:40that, as a consumer, when I'm buying this, I know.
06:45So, for example, there are very, very famous sock business
06:48in the States and their whole premise was
06:51that if you buy one pair of socks,
06:54another pair of socks goes to somebody that's homeless.
06:57Yeah.
06:57I want to know, what's your unique message
06:59and how do you get it across?
07:00So, our unique selling point is
07:03we're using the socks to create conversations
07:06around disability inclusion and dance syndrome awareness.
07:09But, look at that, I wouldn't say that.
07:12That's my point.
07:13So, I want you to tell me, how are you doing this?
07:15So, Stand Out, the brand Stand Out will be known
07:19as an employer of people with learning disabilities.
07:21Brilliant. Now, tell me about that
07:23because that's what I'm interested in.
07:24How are you going to do that?
07:25So, we've been working with a national charity
07:28and then, as we build through from there,
07:31our main ethos is to give people like...
07:34And the mercy.
07:35...who have struggled to get work...
07:37Jobs.
07:37Jobs.
07:39Right, OK.
07:39..and how are you going to get there so that I know about it?
07:43So, imagine you're every retailer.
07:45Yeah.
07:45What one strapline would you give this business
07:48that when I'm walking past that end aisle,
07:50I'm going, I'm going to buy those socks?
08:00So, buy these socks, help us change the world.
08:05One pair of socks does what?
08:11Makes a ripple.
08:14Makes a ripple in the world.
08:18You know, it's...
08:19No, no, I...
08:20Are you getting what I'm saying?
08:22Yeah, yeah, I appreciate what you're saying.
08:24This is a brutal world to make money in business
08:27and I don't believe you're going to get there
08:29unless you're absolutely laser-light focused
08:31on how you're going to get there
08:32and how you are going to do exactly what your brand says,
08:35which is to stand out.
08:38Why stand out, not stand up?
08:42Because stand up kind of feels a lot more about what you're doing.
08:45You're standing up for people.
08:46Yeah.
08:46You're including people into...
08:48Yeah, right.
08:48So, did you think about those choices?
08:51So, we thought, well, why fit in when you're born to stand out?
08:55Why be in the...
08:55But it's not telling your story.
08:57So, for us, it's hard to get across.
09:00It's just, like, don't hide in the background.
09:03Stand out, be who you are.
09:03Natalie, that's the problem.
09:05Yeah.
09:05It's hard to tell your story.
09:08But I sit here looking as an investor
09:13and I think there's a lot, an awful lot,
09:17that needs to be done to tell your particular story.
09:21And that does make it hard for an investor.
09:24So, I'm really sorry, guys, and I mean that.
09:26I won't be investing, I'm out.
09:33Christian, Ross, Natalie.
09:34Yeah, it's awesome.
09:36How big can these socks get?
09:40And I'm not talking, like, extra large, extra large.
09:41Yeah.
09:41I mean, like, how big can this business be?
09:44And we think it's going to get massive because...
09:46We want to become a global leader.
09:48We want to become a...
09:48So, we want stores in each capital city
09:51and people to, you know, help people,
09:53not just in the UK but worldwide.
09:55To get there, because, obviously, socks are quite...
09:58I'd say, quite easy to make.
09:59These are very good quality.
10:00But, obviously, the thing that's going to help you penetrate
10:02such a saturated market is an impenetrable mission.
10:06And it's really telling the story of the mission here.
10:10Yeah.
10:13And I know how to tell a good story.
10:16So, I'm going to make you an offer.
10:18That's killing me.
10:21I love the business.
10:22The very core of this business
10:23is allowing people to have opportunities
10:24who wouldn't otherwise have opportunities.
10:26That's the bit that got me.
10:28So, my offer is going to be for all of the money.
10:34For 25% of the business.
10:38And, listen, we'll go to Manchester United together.
10:41Why are you wearing city colours?
10:42Why are you wearing city colours?
10:43I'm missing.
10:44I've never even thought of that, actually.
10:46Whoa!
10:46I didn't figure that.
10:47Well, OK.
10:52Guys, I want to know what you want a dragon for.
10:55Yeah.
10:55What?
10:57What?
10:58Last year.
10:59It's too good dancing.
11:00So, Ross wants someone from City to come dancing.
11:02You want someone to dance with?
11:04I'd be perfect, Ross!
11:06May I?
11:07Yes!
11:09Yes!
11:09I'm just joking!
11:10It's the first time I've had that answer.
11:13Excellent!
11:14It's looking promising here, yeah?
11:16How about you, Natalie?
11:17Yeah, so, obviously, we've got a really varied skill set between us,
11:21but there are some gaps where we could just do with a kind of helping hand along the way.
11:27And the big thing I've heard that you need help with in a big way is storytelling.
11:31Yeah.
11:31And I would say the unique skill that I have in my business is storytelling.
11:35So, I'm going to take Bartlett on.
11:38Good luck.
11:40So, I'm going to match his offer.
11:42OK.
11:43And I would also give you all of the money for 25% of the business.
11:50And I've got something he hasn't got.
11:52I'm a way better dancer.
11:55I'll wish you a little.
12:00Look, you've got two great offers.
12:02Individual offers.
12:05But maybe there's another offer.
12:08Because I think that you might need more than one dragon on this.
12:13To open doors.
12:14It's all about opening doors here.
12:18So, my offer really is, it's very simple,
12:22is I would offer you half the money for 12.5% if the dragons wanted to do it.
12:29Because I think it needs more than one dragon here.
12:34Yeah, look, I think that's a nice offer.
12:36You can tell, you can see the situation here, can't you?
12:39It's a tough one.
12:40No, no, I would appreciate that.
12:42I really wanted to push you today as hard as I could to try and get this answer to this
12:45question, though.
12:46Mm-hm.
12:47Because I don't believe that you're going to have a chance in hell of making this a successful business
12:51until you get that right.
12:52OK.
12:54And that's why I think I'm the right partner for you.
12:59So, I'm going to make you an offer for all of the money.
13:02Erm, for 20...
13:07..percent.
13:12The old undercut.
13:14OK.
13:15Shall we go in?
13:16You can speak to the wall.
13:17OK, thank you.
13:18Thank you very much.
13:19Peter Jones with the undercut.
13:24A plethora of offers for the entrepreneurial philanthropists.
13:29All right, I'm going to do now.
13:31Stephen Bartlett and Sarah Davies have agreed to pay the asking price of £30,000 for 25%.
13:39For a choice.
13:41A seven.
13:43My fain.
13:45Tuka Suleiman has offered to team up with another dragon at the same valuation...
13:49I really don't know what to do.
13:51What do you think?
13:52I'll do this now.
13:54But Sox supremo Peter Jones has undercut them all with a pledge of 20%.
14:01I'll do this.
14:02I'll stand out.
14:04Come on.
14:06Who will they pick to pair up with?
14:13What is that?
14:14OK.
14:17Obviously, thank you very much for all your input.
14:19We really, really appreciate it.
14:20But we wondered...
14:22Nice guys.
14:22If you two could work together on this.
14:31I have to say...
14:34Peter's the only dragon that's ever spoken to me about socks.
14:37Literally sat in his chair.
14:38Maybe a bit too much.
14:42So, if we do it at the 25% level, then I'm happy to partner as Peter is.
14:50Wow, I think that'll be for me.
14:51I think that'll be amazing.
14:54Ross, what do you think?
14:56Do this?
14:57I'd like to do it.
14:58Let's do it.
14:58Thank you!
15:02Success for Ross and his team as they secure the backing they came for, which will undoubtedly turbo charge their
15:09business and their cause.
15:11Well done.
15:12What about me dance?
15:14Come on then.
15:16Yeah?
15:16Whoa!
15:17Do you know how you do it around here, yeah?
15:19Yep.
15:19Go one, two, three.
15:21One, two, three.
15:23Yeah, good!
15:24And a spin, yeah!
15:25Whee!
15:28Oh, he's singing that paso!
15:30I like it, you're a good dancer.
15:32Thank you very well, honestly.
15:34I really appreciate it.
15:40Come on!
15:43Brilliant!
15:44Ecstatic!
15:45And shock!
15:46Yeah, it was unbelievable to get four offers for starters.
15:49I know.
15:50That was amazing.
15:53Oh, it was so brilliant.
15:54I actually think it could be a really, really great business.
15:56With the right story, Tom.
15:58I mean, that's the thing we've got to work on is get that message.
16:00Yeah.
16:01It's not there yet, but we'll make that happen.
16:03I did it, guys!
16:05Hey!
16:06Hey!
16:08Hey!
16:08Hey!
16:09Hey!
16:17Cheers, lady.
16:20Hello, my name is Daniel.
16:22And I am Lena.
16:23Oh.
16:24Now, we're going to be doing something completely different in the den.
16:28We're actually going to be making Tuka a pair of spectacles.
16:33Hello, dragons.
16:34Hello, dragons.
16:34My name is John Santos.
16:35The entrepreneurs are on their way in.
16:37I would like to invite Tuka to choose a frame and I'll be doing some specs for you.
16:41Oh!
16:42Whoa!
16:42Yeah!
16:45As it takes some time for the lenses to be cut, Daniel and Lena have sent their chief technician into
16:52the den first to get a head start.
16:56Oh, what?
16:56Tuka, I reckon you should push the bow tie a little bit further.
16:58Yeah, arm with Stephen.
16:59What about the pink ones?
17:03That's the one.
17:04That is it.
17:05That is it.
17:06He's having a blast.
17:08Now, lovers!
17:12Right.
17:13If I had to be myself, then I'd pick these.
17:16That looks like what you would wear.
17:18Yeah.
17:19Sounds good.
17:20Now, I'm ready to do a pair of specs.
17:24We're really hoping that when Tuka puts them on, he's going to be able to see, he's going to be
17:29a visionary like us and invest in the business.
17:33Because if he doesn't, we're charging him for them.
17:42Hello, Dragons.
17:43My name is Lena.
17:44Hello, Dragons.
17:45My name is Daniel.
17:46And we are the founder of...
17:47Pop Specs.
17:48In general, buying glasses can be expensive and time consuming.
17:53The average price of glasses is £150 and it can take up to two weeks before they are ready.
17:58Today's consumers, they want quality, affordability and speed.
18:05Pop Specs is a revolutionary mid-maul kiosk that provides a combination of stylish, funky and classical iwa for just
18:14£50 complete.
18:16The best part?
18:17We make them there and then in just 20 minutes.
18:20Since we started two years ago, we are now in seven locations and we are ready to open in different
18:26places across the country.
18:27We are asking for £75,000 in exchange of 5% of the company.
18:33Dragons, we hope that you would like to join us on our journey as we look to disrupt, redefine and
18:38breathe some fire into the eyewear industry.
18:42Now we believe, Tuka, you've chosen some glasses. May I have John to hand you the glasses?
18:49Affordably priced eyewear without the weight.
18:52There you go.
18:53Is the proposition from Daniel Barnes and Lina Tejo-Prayetno.
18:57Wow! Is that a good topic?
19:00That's exactly what we want to hear.
19:02Thank you, Dragons.
19:04Thank you, John.
19:05Daniel and Lina are seeking £75,000 in return for a 5% share in their business.
19:12We also have sunglasses for you.
19:15One of the things with our business as well, we're good at styling this was deliberately for you.
19:19Oh, really?
19:20What the hell were you thinking with me then?
19:22So I thought I'd get something kind of maverick for you, Peter.
19:26I think you look a bit more Terminator than Tom Cruise.
19:30It's hasta la vista for now from a stony-faced Peter Jones.
19:35You can smile in them, you don't have to act like Terminator as well.
19:38And just like Arnie's character in the movie, Deborah Meaden doesn't appear in the mood for small talk.
19:47Right.
19:48Now, let's get serious. Business.
19:51Yes.
19:51So, I'm not sure I understand what your business model is.
19:56Of course.
19:57So, are you a pop-up store with a unique piece of kit that you have come up with?
20:04Yeah.
20:04Or is this kit readily available and you've bundled it together to come up with a pop-up store?
20:10A lot of people think that we are a pop-up because of the name Pop Specs.
20:14Ah.
20:14But we are actually in a shopping mall and the reason why we choose to have a kiosk
20:18is because that reduces the cost of having a unit.
20:21As we know in the shopping malls, the rent can be a lot more.
20:26Whereas if we have the lap in the kiosk, people, they can come with their prescriptions
20:30and we do the measurements just like what John did with the gross prescriptions.
20:34And 20 minutes later, we can have the glasses made there and there.
20:38And people can get some coffee or go shopping while they're waiting
20:41and come back with the glasses and they're ready.
20:44But is this piece of kit unique to you or is it, could I buy it?
20:50You could buy it. It's knowing what to do with it.
20:53So what a lot of opticians will do, they'll take an order
20:56and then they'll send the glasses off to be made to a lab.
20:59So it's the same equipment that you actually get in a lab.
21:02But of course, that's adding time was with us.
21:05By cutting out that time, people can come along.
21:09We've tried to keep the price point such that it becomes a bit more of an impulsive purchase
21:12and the price is that low that you can take that punt on them as well.
21:19Presumably, though, you need an optician to operate it.
21:23So, no.
21:25We're cutting out the eye test side of things.
21:28So I used to have an optician's...
21:30The biggest expense that we actually had, the biggest operational cost,
21:33was actually doing the eye test.
21:35I've decided to remove that aspect
21:38so people can get the prescription from wherever they want,
21:40come along to us and then we just make the glasses up there and then.
21:44Can I just check I've understood that then?
21:47So you have...
21:48Cos I can see all of those different glasses are different shapes.
21:51Yes.
21:52Yes.
21:52So you don't have, for each glasses shape, every prescription.
21:57No, that's what that machine does, so...
21:58One of each prescription on just a round lens
22:01and you cut the lens to fit in them glasses.
22:03You cut edge for it, exactly, you've got it.
22:04So you already had Tuka's prescription in stock.
22:07Yes.
22:07You just let him choose the glasses...
22:09Yes, you've got it.
22:09I understand that.
22:11Yeah, yeah.
22:11Brilliant, thank you.
22:12No problem.
22:14OK, so you're operating.
22:16You've got seven sites already.
22:18Yeah.
22:18And what does that mean in terms of profit?
22:22This year we are on track to turn over 2 million
22:25with a 400,000 net profit.
22:28And next year we forecast to turn over 5 million
22:32with a 1.5 million net profit.
22:38Right, OK, I want to understand a little bit more
22:40about the mechanics of the model.
22:42So what is the setup cost on a new kiosk?
22:45So 60,000 will be for the kiosk.
22:47Mm-hm.
22:48And then the equipment, that will be 20,000.
22:50Right, and what is your payback period on a location?
22:53So it takes about three to four months to get the money back.
22:57You can pay back on one of these in three to four months?
23:00Yes.
23:01And they're all profitable?
23:03Yes.
23:03We never lose money.
23:05So why on earth are you here only asking us for 75,000?
23:09Oh, yeah.
23:09On that basis, with that quick payback
23:12and that level of profitability, you could probably go to so many lenders,
23:17put your business case forward, get half a million, a million,
23:21and just go and open 10, 15 of these.
23:23And so why have you asked for 75,000?
23:26It seems like a random amount.
23:29Because we were hoping for three dragons, really.
23:33We have to come in at an amount.
23:36The money factor isn't the critical aspect.
23:39It's what you guys bring on board.
23:41We see people that come in with just ridiculous evaluations,
23:45and it gets your back up.
23:46We have been watching Dragon's Den for too much,
23:49and we do not want to be roasting you.
23:50We don't want to be those people.
23:51You're such a breath of fresh air.
23:53I've been waiting to meet two people like you for years.
23:55I'm really puzzled on why you're here.
23:59You haven't actually really nailed what you need from any of us.
24:03It's what you can actually bring to the business.
24:05Which is what?
24:07So it's the contacts that you have
24:09because we now want to go to phase two
24:11and phase three of the business.
24:13The phase one was beginning to get nationwide locations.
24:17We're now in that process.
24:19We've got another five opening within the next five months.
24:21Right, so you've got that sorted.
24:23Yeah, so that grows.
24:24So the phase two will be the hybrid online model.
24:29Whereby, you can buy from us online.
24:32If they fit, brilliant.
24:34If not, we want to be within 20 minutes,
24:37half an hour of everyone within the UK.
24:42And how do we help with that?
24:44So e-commerce, we're terrible with e-commerce.
24:46It's an area that we just don't understand.
24:49And then phase three, we want to get links into
24:52a couple of the major supermarket chains.
24:55So, where you'll put a kiosk in a supermarket?
24:58Exactly.
24:59Like the Timpsons model with the key cutting.
25:02You got it. Exactly that.
25:03Yeah.
25:06I'll tell you what, guys.
25:07I know how I could help you grow this in a very quick, quick way.
25:12In my context in retail, where I can put you in places.
25:15I do know two big chain stores that have got more space than they need.
25:22So, I'm willing to make you an offer.
25:27But, you want free dragons, you've got to pay for it.
25:33I'm willing to give you a third of the money for 5%.
25:39That's 25,000 for 5%.
25:41That will get me out of bed to help you grow this business.
25:45Thank you very much, Tuka.
25:49I think this could be an international business.
25:52And I think to get there, you're going to need something that I can bring to the party.
25:56Which is, from an econ perspective, we could get this operating really quickly.
26:03But I will, I'll join Tuka.
26:06I don't know who the third you're going to get.
26:07But I'll join Tuka on the journey for sure.
26:10So, I would offer you a third for 5%.
26:18Peter Jones teams up with Tuka Suleiman,
26:21which means Daniel and Lina now have two thirds of the cash they're seeking.
26:27But the eyewear entrepreneurs still need one of the remaining dragons to come on board
26:32if they're to have any chance of leaving the den with a deal.
26:38You guys have made a fantastic business.
26:41Fantastic business.
26:42Yeah.
26:44You're also very credible.
26:47It's funny, because in the den,
26:49one of the internal parameters I use to decide whether to invest
26:54is almost like a physiological reaction I get to a business.
26:57Like, my hands start to sweat a little bit,
26:58my heart starts to race a little bit,
27:00because you get excited.
27:05But...
27:07I didn't get that.
27:10Yep.
27:11So, I'm going to say that I'm out, but I wish you the very best.
27:19Um, so I think it's clearly a really good business.
27:25But there's something that's been holding me back.
27:30And I can't quite put my finger on it.
27:34And, you know, it would be unfair of me to get involved in something
27:38that I didn't absolutely feel.
27:40Sure, sure.
27:41So I'm afraid I won't, I'm out.
27:46Do you know what, Daniel?
27:48Lena, you have literally not given me a single reason
27:53to not make an offer in this business.
27:57And you have been that credible, that great in your explanation.
28:01I feel like it's a really safe investment and I'll be stupid
28:04not to make an offer.
28:05Thank you, Sarah.
28:05So I would be more than happy to come in on the offer
28:09that's on the table.
28:09Thank you very much.
28:10Which is a third of the money for 5%.
28:15Can I go to the wall?
28:17Thank you very much.
28:20Daniel and Lena have finally got a third offer.
28:24It's a lot. It's a huge amount.
28:27But will the pair be prepared to part with three times more equity
28:32than they were looking to give away
28:33to secure their desired dragon trio?
28:37Three and a third percentage.
28:39What about, you just put it to 4%.
28:41It's a lot.
28:43And the 4% is fair.
28:44OK.
28:45It's not much less.
28:46Yeah.
28:46OK.
28:53First of all, a big thank you for the offers.
28:57You bring an incredible amount to this business,
29:02but I do think that you're asking for a little bit too much.
29:08If you would be as kind as just to go down a fraction or 4% each
29:14for the 25,000,
29:17and I think we'll be happy with that.
29:28I mean, the only thing I will say,
29:30if we're going to get our money back in six months
29:31and we drop to 4%, would you accept that?
29:36I'm definitely in at that rate.
29:38I'm in.
29:40So, we've got a deal?
29:41Are you happy with that?
29:41We've got a deal.
29:42We're happy with that?
29:43Thank you for budging, Peter.
29:46Thank you very much.
29:47I really appreciate it.
29:47Well done.
29:49Success for Daniel and Lena.
29:51Thank you very much.
29:52Thank you very much. Much appreciated.
29:54They leave the den with £75,000.
30:01Well done, Cheryl.
30:02That was hard.
30:03Good job.
30:04It's done.
30:05And the support of three of British businesses' most far-sighted investors.
30:11Well, I think that's going to be good.
30:13I'm just going to tell you this straight.
30:14That was already a cracking investment opportunity,
30:17but then with you two on board, I'm onto an absolute winner.
30:23I'd like to say that it was easy, but it's really not.
30:27It's brutal.
30:30We're walking out of here today with three dragons, which is just incredible.
30:34So we are excited for what's coming for us.
30:50My name is Colin O'Brien, and I'm here today to pitch my business and my three products that I
30:55hope the dragons love.
30:57Oh, I really hope this is bikes, not washing lines.
31:02I'm looking at that little stack on the right, Steven, and I'm pretty sure it's more washing line than bike.
31:06Yeah.
31:09I asked my mom years ago, is there something I could do to make her life easier?
31:13And mom said if I could come up with a product that she wouldn't have to rush in and out
31:16every time it rains to bring the washing in, that that would be a great product.
31:19And mom is no longer with us, but I'm sure she's here with us today just before we go into
31:23Dragon's Den.
31:32Hi, dragons. My name is Colin O'Brien, and I'm here today to pitch for £80,000 for 8%
31:38of our business, Peggy Rain Limited.
31:42Peggy Rain is a company that currently consists of three products.
31:46We have our Peggy Rain clothesline, we have our really cool roller suitcase, and we also have our bicycle alarm.
31:53So, what is Peggy Rain?
31:55Peggy Rain is a clothesline that rescues your washing from the rain.
31:59Now, I'm not just going to talk about this, I'm also going to give you a demonstration.
32:03So, I'm now just going to simulate a couple of drops of rain into the Peggy Rain clothesline.
32:10So, after a couple of drops of rain, Peggy Rain will cover your clothes.
32:14So, I love to develop products to make people's lives easier.
32:17I've also developed Roll Air.
32:19Now, Roll Air is the ultimate solution to solving the problem of those pesky wheels braking on suitcases.
32:26So, with Roll Air, you can take it anywhere.
32:28You can take Roll Air up the steps of London Underground, or the cobbled streets of Rome.
32:32So, it'll go across any terrain, anywhere at all.
32:34We have also developed our bicycle alarm, where we've actually assembled the alarm around the wheel hub.
32:40So, it's behind the spokes.
32:41So, for any thief who wants to steal the bicycle, they'll have to modify the spokes to remove the alarm.
32:46So, I'd love to invite you all up to have a look at Roll Air, at Peggy Rain and our
32:50bicycle alarm.
32:52Wow.
32:53A multi-faceted pitch from inventor Colin O'Brien.
32:58Is that the alarm there?
33:00That's the alarm. And then if somebody goes and takes the bicycle.
33:02Sorry. And this will actually go 110 decibels.
33:06He's seeking £80,000 in exchange for 8% of his product design business.
33:12I haven't named it yet. So, we named Peggy Rain after Mam. I haven't actually given this a name yet.
33:17Peggy Bike?
33:18Yes. Yes. Yes. Yes. I think so.
33:20You can see we're getting into this. Yeah.
33:23Colin may not be as prolific at naming products as he is at inventing them,
33:27but thankfully Deborah Meaden is never caught short when it comes to asking questions.
33:35So, Colin. Yep. Hi, Deborah.
33:38Thank you. Thanks for the demonstration.
33:39So, I'm getting the sense that actually this investment is for inventions.
33:46Correct.
33:46Yes. So, you're creative. Yep.
33:48You're going to come up with new ideas and solve problems on a regular basis.
33:52Exactly.
33:52Is that right? And these are your first three products.
33:54Exactly, yes.
33:55So, are these currently in production? Are you actually selling them?
33:58Yes. So, we're selling Peggy Rain and we have sold 360 Peggy Rains.
34:03We were initially manufacturing Peggy Rain in Ireland and that was fine.
34:07I had the house full. My partner Jenny had...
34:10I can see what's going to happen here. I'm going to have to keep you back on track.
34:14I know, I know. I can see that.
34:15I was warned, Deborah, I was warned not to go off on a tangent, so apologies.
34:19Right, back, back in the room. Yeah.
34:21Right, so you've sold 360 of the Peggy Rains.
34:24Yes, correct.
34:25OK, and have you sold... Are these in production?
34:28No, this is literally, and I'll be honest with you, this has just landed in the last couple of days.
34:33I have built... Now, just to let you know on Roller, the reason behind Roller, and I'm sorry to bring
34:37my girlfriend into this again...
34:39No, I'm going to ask... I tell you what, stick with the questions.
34:41Wait, I promise you're going to have plenty of chance to talk about all your stuff.
34:44Now, so you've got... This is actually being sold.
34:47This has literally just landed. Tools, yeah.
34:49And how about the bicycle alarm? The bicycle alarm is early days.
34:52What does early days mean? Is it a final product or beyond prototype?
34:57No, it's pre-production. It is pre-production prototype, yeah.
34:59OK, so now's your chance to tell me the story behind this.
35:03OK, so the original... This was coming back three years ago.
35:07I was travelling through Cambodia with my girlfriend Jenny,
35:09and she had got one of those suitcases and the wheels broke, which happens to a lot of people.
35:15So I built this suitcase with the Roller, and I took it to Dublin Airport.
35:19There was a group of ladies heading off shopping to New York,
35:22and they were going, the wheels are always breaking,
35:23and they asked me, can I have the suitcase?
35:25And I said, well, physically, it was my first prototype.
35:28So I went back to my business partner's house.
35:30I said, look it, people are stopping me, they love the suitcase.
35:33And then we actually tooled up.
35:35I don't get it.
35:38Steven, OK.
35:39So you've taken off two wheels and you've put on that big wheel.
35:41Yes.
35:42But a suitcase can go in every direction.
35:44Yes.
35:44It has four wheels.
35:45This can only go in one direction.
35:47But it can go anywhere.
35:49The thing is that you're compromising...
35:51Yeah.
35:52...the use of it.
35:53So, I mean, I spend a lot of money on suitcase, I do a lot of travel.
35:56Yeah.
35:57I would never change the functionality of the 360 degree...
36:01OK.
36:02...to have that...
36:04I take your point, but I actually believe from where we've shown this suitcase
36:07that the people are going...
36:09And people get it.
36:10I love that, Colin, but you're basing your whole business model
36:14on a handful of women that you've seen in an airport
36:16who were just excited to go on a shopping trip...
36:19Yeah.
36:19...and thought that was cute.
36:20Well, I've also taken it to TK Maxx as well.
36:21Now, we didn't ask for permission...
36:22Did they say they'd order some?
36:24Sorry, no, no, not to TK Maxx.
36:26I brought it in store to do a demo.
36:28And I actually got some people to look at the suitcase.
36:30And people do love the suitcase.
36:31And how much did they buy?
36:32Sorry?
36:33How much did they buy?
36:34No, this is the first...
36:35You want to get receipts, not anecdotal feedback.
36:39No, I understand.
36:39They're going to be nice to you.
36:40This just landed, Stephen.
36:41But I do...
36:41I honestly firmly believe that we will sell a lot of these...
36:44Colin, I'm going to tell you something.
36:45Thanks.
36:47This is your first sample.
36:49Yeah.
36:49Correct?
36:51So, could you...
36:52And I'm a product product.
36:54I love products.
36:55Could you put four rollers?
36:57Mm-hm.
36:58So, you've got the functionality that my fellow dragons are concerned about.
37:02Yep.
37:02But then that's wheels, Tuka.
37:03That's four wheels again.
37:04Yeah, no, I'm just...
37:06Mm-hm.
37:07Is that, in your quick design thinking, feasible?
37:11Yes.
37:12There's options there we can do.
37:14Yeah, because how would that work?
37:15Just as a question, how would it work when you've got two rollers...
37:18It would only just go this...
37:18Well, that's his problem, not mine.
37:20Yeah, yeah.
37:21So, my next question.
37:22Yep.
37:23Could you make the kids' suitcase?
37:24I have, actually, that in my head.
37:25And I've done it.
37:26And I do have another option.
37:28Yes, it's in hand.
37:32Can I ask?
37:33Yes.
37:34So, you are clearly very, very strong on the inventor side.
37:37Yes.
37:38How do you find the operational business side of the business?
37:41The buying and selling, negotiating, marketing?
37:44I love that.
37:45I genuinely love that.
37:47So, let's just take Peggy Rayne.
37:48Yeah.
37:48How much has been invested in the Peggy Rayne product to this point?
37:53Around 100k.
37:55When was it ready?
37:56We launched it in late 2021.
37:58And how many have you sold since late 2021?
38:00360 we've sold.
38:02With an income of...?
38:03That was 13 and a half, I think it was.
38:06In two and a half years?
38:10Yeah.
38:11OK, so what I've read into that is that you don't really like the business side because
38:16you've invented that and then you don't really want to work on the business side because you
38:19want to work on this.
38:21No.
38:21And then we've got this and we want to work on the bike thing.
38:24Well, I'm not like what's shiny in you.
38:25I'm not running after that.
38:26Because, honestly, if it was me, if I'd spent 100k bringing a product to market, I would
38:31be doing nothing else.
38:32I'd be spending every week, an hour of every day working to get my 100k back.
38:36And, actually, I literally felt compelled to do this.
38:39I love how passionate you are about your product.
38:41Nice.
38:42It's infectious.
38:43And it's wonderful.
38:45However, I'm looking at it and going, this is not an investment in the capacity in which
38:50I'm looking for an investment.
38:51So, I'm going to say I'm out.
38:53But keep being brilliant.
38:55Oh, thank you.
38:55Thank you very much.
38:59Colin.
39:00Deborah.
39:01You're lovely.
39:03But you're scattergun.
39:06And I feel in you, the big product is in there somewhere.
39:11And one of these days, you're going to come up with it.
39:13But the more time you spend coming up with an idea, working out that it's not quite as
39:19big as you thought it was going to be, and then coming up with an...
39:22That's going to delay your moment where you come up with the product that's going to make
39:28you money.
39:29Mm-hmm.
39:32Unfortunately, it's not in any of these products that you've presented today.
39:36And it's just made it uninvestable for me.
39:40So, I'm out.
39:45When I look at the three businesses you've presented today, an alarm goes off in the back
39:48of my head.
39:49And it says, Stephen, you know to be successful, especially in the early phases of a business,
39:53you need focus.
39:55Mm-hmm.
39:56And giving 33% to each idea, when I know your competitors in that, in that, in that,
40:01and giving 100%, I go, you're probably not going to win at anything unless you figure
40:05out where to focus.
40:06So, for that reason, I'm going to say that I'm out.
40:12Colin.
40:12Peter, how are you?
40:14I like to see people walk into the den with ideas and inventions.
40:17I just like it.
40:19Yeah.
40:19I quite like the alarm.
40:22I thought this was quite gimmicky and quite funny, actually.
40:25Mm-hmm.
40:28I think this is stupid.
40:31Genuinely.
40:32I honestly don't think that that's...
40:34I think you need to start again there.
40:36But then, when I'm sitting here listening to you, do you know what I felt?
40:43This morning, I had breakfast with somebody that was talking about this, and then they
40:48talked about that, and they've got this other idea for that.
40:51And this person I was talking to is mega successful.
40:55Mm-hmm.
40:57Do you know who it is?
41:00Tuca.
41:02Very good.
41:04And just listening to you, just your speech and your talk, you're like an Irish version
41:10of Tuca Suleman.
41:11I take that as a very good compliment.
41:13I think that that's what you need.
41:16Yeah.
41:16I think you need somebody with the same mental capacity that can deal with all these multiple
41:21things and can fix issues to your product.
41:24Mm-hmm.
41:25And I don't think there's anybody better than Tuca.
41:27Very good.
41:28Anyway, so back to me.
41:29Yeah.
41:32Erm...
41:32It's not something that I feel like I can invest in.
41:35So I'm going to say that I'm out.
41:40Colin, so I like you, but there's a lot of unanswered questions here.
41:53Yeah.
41:53Yeah.
41:54I mean, the Peggy whatever you want to call it.
41:57Peggy Rain.
41:57Peggy Rain.
41:58It's okay.
41:59It's not going to make any fortunes in my view.
42:01Mm-hmm.
42:03However, this is all about investing in you.
42:06Yeah.
42:06And I love the brand.
42:07Mm-hmm.
42:08Thanks.
42:08I love what you represent.
42:09I love your passion.
42:11Thanks.
42:12So I'll tell you what I'm going to do.
42:16I'm going to make you an offer.
42:18Mm-hmm.
42:19So I'll give you 80,000, but I'd want 45% of the business.
42:32However...
42:32When I get my money back, I'll go down to 30%.
42:42If we could pull it back to 25.
42:48If it happens within 12 months, 25, beyond that, 30.
42:55Okay.
42:56Done.
42:57We've got a deal.
42:58Great.
42:58Excellent.
42:59All right.
43:00That's one of the best.
43:01Colin has done it.
43:02Thank you very much.
43:03See you, Colin.
43:04Bye-bye.
43:05He leaves the den with a suitcase of cash and a new business partner in retail titan Tuka
43:12Suleiman.
43:13Brilliant.
43:14Absolutely delighted.
43:16I'm really chuffed.
43:17Tuka is a really good guy.
43:19And look, I'm really delighted to get Peggy Rainroller and her bicycle alarm in with Tuka
43:24and into all the shops.
43:25Absolutely delighted.
43:26Tuka, you've just invested in your brother from another mother.
43:30Tuka this morning, over breakfast, was talking about electric suitcases.
43:33Yes.
43:34Then the next thing he was talking about cat litter.
43:36The next thing from there he talked about tech.
43:38He's just bought himself a crazy inventor for 80 grand.
43:41And now he's got Peggy Sue.
43:43Forget it.
43:43Not interested in that.
43:44You're not interested in the product you just invested in?
43:46Well, I'm just saying, he's not going to make money.
43:49That's not going to make money.
43:51Ugh, Colin!
44:11My name's Ben, I'm 23.
44:13I'm Joe, I'm 28.
44:15I'm Oliver and I'm 28.
44:16I need a wee so bad.
44:19Hi, Abi.
44:19We started our business in the spare bedroom in our house
44:22and we are now one of the most followed brands on social media in our industry.
44:27Well, someone has good taste in shoes and handbags.
44:29Second-hand luxury.
44:30Big market, this.
44:31Huge market.
44:32Tuka has an investment in there.
44:35Is that what luxury retail?
44:36I was looking for this season's outfit there.
44:38Oh, really?
44:40The dragons are going to love us, they can't not.
44:42What we've done in the past three years is actually wild.
44:45Let's go.
44:47With the ambition and drive that we've got, we know that we're going to be the biggest brand in the
44:50world of what we do.
44:51All three of us together, nothing's going to stop us.
44:53Yeah.
45:00Hello, dragons.
45:01My name's Ben.
45:02I'm Joe.
45:03And I'm Oliver.
45:03And our company is Lux Collective.
45:06We buy and sell pre-loved luxury items.
45:08So we grew up in a place called Thornby.
45:11And when we say that to people, they automatically assume,
45:13well, you come from a lot of money.
45:15But for me and Joe, that's far from it.
45:17One Christmas, my sister asked my mum for a pair of £400 trainers.
45:23£400.
45:24Why is my sister getting a pair of £400 trainers when our budget for Christmas is always £100?
45:31So I went to my mum and asked why my sister has a bigger budget than me.
45:35She told me they were from a second-hand online luxury marketplace.
45:41And I became obsessed with this website.
45:44But I knew I could do it better.
45:46I knew I needed a business partner, so I knocked on my brother's bedroom
45:49and it took him about three seconds to verbally sign the contract.
45:54So we started buying items off eBay and Depop.
45:57We'd clean them up and we'd sell them on Instagram for more.
46:00We've now amassed over 1.8 million followers.
46:03And last month alone, we got over 100 million views across our main three social media channels.
46:10Since incorporation in December 2020, we have seen sales revenue exceed £8.5 million.
46:17We are here today to ask for £100,000 for a 2% equity share in our company.
46:22What's it called, the company?
46:23Lux Collective.
46:24Lux?
46:25Collective.
46:27Thanks for listening.
46:28I'm going to pass you over to Ollie, who's going to give you a quick demo on how it works.
46:32A rags-to-riches tale from brothers Ben and Joe Gallagher and their colleague Oliver Miller.
46:38Basically, this is our website and we drop stock every day of the week.
46:43And that can be anything from bags, footwear and accessories or from the top designer brands.
46:49They're offering 2% of their designer goods resale platform in exchange for £100,000.
46:56So that's more like the buying side of things.
46:58Obviously, we do have customers who sell to us.
47:00So that's where all the stock originally comes from.
47:05Sarah Davies is first up to find out more about the company.
47:12Right, guys.
47:13So, is the business wholly owned by the three of you at the moment?
47:17Yes, 100%.
47:18And so, when you say you've done 8.5 million in sales to date...
47:23Yes.
47:23..give me the last few years since you launched.
47:25So, in 21, we did 2.5 million in sales revenue and a net of 285k.
47:32In year two, 3.8 million in revenue and a net of 255k.
47:39Wow.
47:39This year, we're predicted and on track to do 6.5 million in revenue
47:43and to do a net profit of 420k.
47:48That is very impressive.
47:50Thank you very much.
47:51Very impressive.
47:53You're clearly printing cashier in terms of the net profit of your business.
47:58So, you've come in today asking for 100k.
48:00It begs the question, why have you come here?
48:02So, the next step for our business, we want to go into retailing.
48:06Your Selfridges, your Harrods, we want to have a store in there.
48:10Why?
48:11There's a case study in America of a company very similar to us
48:14who've done the exact same thing
48:15and I think they were on about $150 million of revenue in 2018.
48:20Then, 2019, they went into Naiman Marcus.
48:21Naiman Marcus is a store in America
48:23and now they're at $500 million worth of revenue.
48:26So, we want to basically do that in the UK.
48:29So, why do you want a dragon?
48:31Because we do not know where to start at all
48:34with retail of how to get in.
48:38So, just thinking about your strategy going into Selfridges or a Harrods,
48:45how does that match their strategy working with the brands?
48:49Yeah.
48:49So, for example, you've now got a nice store in store in Selfridges.
48:53The brands obviously want to encourage the sale of new product.
48:57Mm-hmm.
48:58Selfridges make good money off the back of that new product.
49:01And the new guys roll into town to encourage their customer
49:05not to buy that new product when they can buy the same product
49:09that somebody has discarded for half the price.
49:12Yeah.
49:12How do you think the brands, this is the specific question,
49:15how would the brands react to Selfridges for allowing you to be in that store?
49:19So, at the moment, Selfridges actually have their own thing called re-Selfridges,
49:24which, from my personal opinion and looking at it, is not very well done.
49:29So, they are actively doing it.
49:31Well, they're doing it on the back of working with the brands, aren't they?
49:35I can promise you they would have got authority
49:38and gone to the brands that they work with
49:40Mm-hmm.
49:40and said, this is our pre-loved area of our business model.
49:43Mm-hmm.
49:44This is how we're going to really hold that customer in tight for you,
49:48Mr. Gucci, Mr. Yves Saleron.
49:50You're coming in as three disruptors and taking their customer.
49:55Mm-hmm.
49:55And I think that that's flawed.
49:57I don't think you've got any chance.
49:58And the reason why I think that that's complete wrong for you to go there
50:04is because I think what you have and what you've done I think is fantastic
50:09and I think you've got a huge opportunity to take this to a 60, 70 million pound business
50:14Mm-hmm.
50:14Doing exactly what you do.
50:16But I wouldn't pivot into a strategy that when you don't understand
50:20how that works across those luxury markets.
50:23Okay.
50:23But I think what you have here you could build upon
50:26and I think you could force yourself into a situation
50:29Mm-hmm.
50:29Where a self-reduce goes, you could become our pre-loved.
50:33I want to acquire this business.
50:35That's an opportunity that you should be selling.
50:39Okay.
50:48So you said 100,000 for 2%?
50:52Yes.
50:53So you're valuing it at 5 million?
50:56Yes.
50:565 million, yeah.
50:57Yeah.
51:00Oy.
51:04So I'll tell you what, I'll tell you where I am, okay?
51:07Um, some people in this den wouldn't get out of bed for 2%.
51:12Not looking at anyone in particular.
51:15But you're offering a small stake in your business.
51:18Yeah.
51:18But to have somebody motivated to want to get really involved in your business.
51:21Yeah.
51:21They're going to want to take a significant proportion of your business.
51:24Uh-huh.
51:24And so you're going to have to give away a lot more of your business.
51:27Okay.
51:27If you're going to walk out of here with a dragon.
51:29Okay?
51:30Okay.
51:33My personal opinion is, you just need to go and make hair while the sun's shining.
51:38Mm-hmm.
51:38And the sun is shining really, really bright.
51:40And you just need to get your foot on the gas and go for it.
51:43And if you go for it in a big enough way doing a lot more of what you're doing,
51:46some big guy's going to come along and buy you up or buy part of you because they,
51:51you are a pain in their behind and you can scale this business without anybody coming in.
51:58I'm sat here thinking, would I like a chunk of this business?
52:01Absolutely.
52:02But then I feel like you would resent me because I'd want such a significant chunk of your business.
52:07You'd get to the point in six months' time where you'd be really frustrated and saying,
52:10why did we give her all of that chunk of the business when she just told us to do more
52:14of what we're doing?
52:14Because that's essentially what you need to do.
52:17OK.
52:18So, I'm going to shoot myself in the foot and tell you that I'm not going to invest and I'm
52:22out.
52:25Yeah, I actually think the same.
52:28Erm...
52:30I'm not going to make you an offer.
52:33But I'm going to wish you the very best and say that I'm out.
52:36Yeah.
52:36But congratulations.
52:38Thank you. I appreciate that, Peter.
52:43Hmm.
52:47Do you know what? I'm going to make you an offer.
52:49Hmm.
52:52Because I just really like you guys and I think it would be loads of fun to work with.
52:55I know all the people around your space and I think a lot of the value can just be done
52:59connecting you with those people.
53:00So, I'm going to offer you all of the money for 5%.
53:05Interesting.
53:05Thank you very much.
53:06Thank you. I appreciate that.
53:08To me, you're just the whole package as far as entrepreneurs are concerned.
53:12Mm-hm.
53:13You know, you're just...
53:14You just got it.
53:15You came up with an idea.
53:16You've...
53:16You've done it.
53:18And you're turning over 6.5 million last year.
53:21I mean, that is phenomenal.
53:22No, they haven't.
53:23That's this year.
53:24Oh, that's your...
53:25That's your run rate.
53:26Projected, yeah.
53:27So, I too am going to make your offer and I'm not going to make it easier for you because
53:30I also want 5% of the business.
53:32Okay.
53:33Final keys ever.
53:34Thank you very much.
53:39And then there was one.
53:41Yeah, look, the business looks rosy.
53:45However, you get a few bad months, it could turn.
53:49Yeah.
53:49And I think you're going to need some strings pulled to make things happen.
53:55And I've got 50 years experience in this business.
53:59I'm not going to give myself away for 5%.
54:01Hmm.
54:02So, I'll make you an offer.
54:03Mm-hmm.
54:04I'll give you all of the money but I want 10% because I believe that I can catapult you
54:09quicker.
54:11Thank you very much.
54:13Can we go and talk to the wall?
54:15Talk to the wall.
54:16The window.
54:19A trio of offers for the second-hand luxury traders.
54:26Stephen Bartlett and Deborah Meaden have each pledged all the money for 5%, whilst fashion mogul Tuka Suleiman has valued
54:35his industry expertise at 10%, considerably higher than the 2% that was originally on the table.
54:42Which isn't the most you would go to?
54:44Yes.
54:44Four.
54:45Four.
54:45Four.
54:46Three and go to four.
54:47Okay.
54:48Will the young entrepreneurs be as impressive at negotiating as they are at producing high profits?
54:59Thank you for all your offers.
55:02Right, we really appreciate it.
55:04Erm, so like, when I was 19, erm, I kind of like, didn't really like the direction my life was
55:16going in.
55:16So, like, I decided, like, I need to start working on myself.
55:21And, erm, I started listening to your podcast, Stephen.
55:26And, like, the conversations you've had with all these people really helped me get back on track and live a
55:32life.
55:33Like, I never thought I'd be in this position now, showing you guys my business that has turned over whatever.
55:38Like, you've helped me out a lot, man.
55:40Like, I appreciate it.
55:42Erm.
55:47Can someone help me out?
55:50I think we would prefer to work closer with Stephen.
55:53Fine.
55:54The difference is you're getting eight years of experience with me getting 50 years of experience.
55:58It's fantastic experience.
55:59Have we got a deal?
56:00I think we would have to, I think we would prefer to agree, well, we're definitely one who returns.
56:04I think 5% for us is too high.
56:06Right.
56:09We would do, we would do 3%.
56:11That's where we're at, Stephen.
56:12And, like, we would shake hands on a deal at 3% right now.
56:22Can we meet in the middle?
56:27I think 3% is a good deal.
56:29Yeah.
56:30Yeah.
56:35So you wouldn't be willing to go to 4%?
56:48Sometimes in the den, you know, sometimes in the den I want to see a bit more willingness to negotiate
56:56and meet in the middle and I'm, I'm, I'm a dragon so I'm meant to be, like, tough guy that,
57:01you know, is gonna, like, I don't know, throw the money at you, tell you to get a, whatever.
57:05But I just, I'm in love with what your story, I'm in love with what you're doing, I think you're
57:10great guys and I'd love to work with you.
57:11So, in this case, I'm accepting the 3%.
57:14Yeah.
57:14You got a deal?
57:16Yeah.
57:16Well done.
57:17Well done.
57:19Success for the lads from Liverpool, as Ben's tough stance pays off and Stephen Bartlett pays up.
57:26Thanks very much.
57:27Thank you very much.
57:28Now they have their dream dragon, the question is, what's next for the business?
57:35Erm, definitely not retail.
57:37That went down like a led to loom.
57:39That was such a good idea.
57:41I used to push trolleys and now I'm working with Stephen Bartlett.
57:45I never thought I'd be in front of him in Dragon's Den, I actually thought I'd be oppositing him on
57:49his podcast.
57:51But it just so happens that this was first.
57:54You absolute soft touch.
57:56I know.
57:56They played you like a film.
57:58They had no negotiating power, stroked your ego.
58:02Stephen, we love your podcast.
58:03Do you know what?
58:04I looked at it and I thought, my ego aside, when I do that deal with them, I would.
58:07Yeah, it's a good deal.
58:22Coming up on the new series of Dragon's Den.
58:25We so need new blood in the den.
58:27Liam, could I ask you an important question?
58:28You asking me out?
58:29We'll see about that.
58:30But what does it matter if they have a little hanky-panky?
58:32I think we're too young for that, Stephen.
58:33You are literally so boring.
58:36I couldn't agree less with Peter.
58:38Oh, thank God for that.
58:39We're here today asking for £50,000.
58:41How much?
58:42Your mother must be so unbelievably proud of both of you.
58:46She should be.
58:46Can you eat the envelope?
58:49Sorry, I've just got it.
58:51Have you gone blank?
58:51Thanks.