- 5 weeks ago
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00:06The doors to the den are open once again, and our five multi-millionaires are keen to dig deep and
00:16invest their cash to help the next generation of entrepreneurs find fortune and glory.
00:25They'll occasionally be joined by some guest dragons, including superstar fashion founder Emma Greed.
00:32This is my opportunity just to pay it forward, and we'll do some great business together.
00:36And style guru turned beauty mogul, Trini Woodall.
00:40Oh, I mean, like, literally, can I imagine going into business with you? That's... I just don't know.
00:49Tonight... I'm Joe Wicks, and I'm best known as the body coach.
00:52A fitness heavyweight unleashes his inner dragon.
00:56Joe, welcome to the den.
00:57Well, thank you. Let's do it. Let's dragon.
01:01I'm probably best known for my cookbooks. I've sold over four million cookbooks in the UK alone.
01:06And also during lockdown, I did something called PE with Joe, where I got the whole nation moving.
01:10Come on, everybody.
01:11I also run a health and fitness tech company, and we have clients from all around the world using our
01:16fitness programs, using our recipes, and that's my proudest achievement, I think.
01:19It's all right, mate.
01:20When I think about my childhood and the environment I lived in, it was stressful, it was chaotic, you know,
01:24we always worried about money.
01:25Why should I buy this?
01:27It gave me a determination to want to be something and, you know, not go down the path that I
01:31was probably expected to go down.
01:32Sorry, I found it quite emotional then, so...
01:35Pushed it down. I'm back.
01:37I'm looking for founders that have had a struggle and they're willing to push.
01:40You are my kind of guy. You have to work so hard. It just doesn't come easy. And this is
01:45my kind of product.
01:46That's how you're dragging.
01:59I'm Joseph and I'm from Liverpool.
02:02Ready for this.
02:05I'm a fitness enthusiast. I love anything with training.
02:11And from me doing what I love doing. And so creating a product from it.
02:16I've got a similar one at home. If Joe Wick saw me training, he'd be impressed.
02:21Do you do all the upside down pike push-ups and all that feet and the hoops and all that
02:25sort of stuff?
02:25No, no, no. I've done the one where you're stretching right back and then pulling myself up.
02:28Rowing, yeah. Rowing. And then I've done the reverse.
02:30The easiest one.
02:30Is that the easiest one?
02:32Yeah, the easiest one.
02:36Look at this.
02:38With Joe Wicks, it was an absolute privilege to have somebody who's already into the fitness industry
02:43for me to showcase my product to them.
02:45Wait until you use this, mate.
02:49But any dragon that really believe the expertise, what they have got, can help this business grow.
02:55Ready.
03:03Hello dragons. My name is Joseph Kagan.
03:06I'm here today for £70,000 for 10% in Body X-Core.
03:12Body X-Core came to Patricia, from being a frustrated consumer, needing tons of different types of equipment to train
03:18with,
03:19which wasn't ideal to bring with me anywhere on the go, with it being too bulky and too heavy.
03:24So I had a dream to help solve this problem.
03:27Body X-Core now is a painted gym in a bag.
03:30You attach this kit to yourself, you become a walking gym.
03:34Any type of movement, what you do with this kit on, your workout virtually begins.
03:38I've got my fist and my straps on now.
03:41I'm just going to show you.
03:42I've got the band, what comes around me, what attaches securely to my fist.
03:48Now, I'm going to do punch outs.
03:50What's going to turn my normal punch out into a more intense punch out,
03:54by all the different types of movements I can do with this kit on.
03:57Any type of workout you do, it virtually adds that extra load to you.
04:02Body X-Core is a game changer in this fitness industry,
04:04and it would be great for you to try out and see for yourself.
04:08There's got to be only one person.
04:09All right, let's go.
04:10Can I give it a go?
04:11Joe and Joe.
04:12Come on, Joe.
04:13Come on then.
04:15A gym that you can wear is the eureka moment
04:19of fitness fanatic turned entrepreneur, Joseph Keegan.
04:23Are we going to start with the boxing, yeah?
04:24Yeah, that's correct, Joe.
04:25Your normal shadow boxing will turn into a more intense shadow boxing.
04:29Oh, yeah, sure, yeah, yeah.
04:29If you're going to be doing the long outs.
04:32Joseph is seeking £70,000.
04:35We've got the ankle straps also.
04:37Oh, yeah, cool, that's tight.
04:39This is turning into 50 shades.
04:41In return for 10% of his business.
04:44Let me try a burpee.
04:47Oh, mate.
04:49That is, that's really hard.
04:51If you want to do your normal workout without your weights,
04:55you add this kit on, it's going to add that extra intensity
04:57so there's no need to add extra weight
04:59because you've got this kit on.
05:01It's clever, mate.
05:02It's really good.
05:03Joseph's product has earned praise
05:06from health and fitness guru Joe Wicks.
05:09But is his business in good enough shape to secure a deal?
05:13Deborah Meaden is first to find out.
05:20Joseph, my goodness, that was quite a demonstration
05:22and demonstrated by Joe Wicks.
05:25And I think you're a pretty good question.
05:27I am, honestly, because this really is functional.
05:29It's working, do you know what I mean?
05:30It's giving you a good workout.
05:32So, what's your background?
05:34How did you get to come up with this idea?
05:37From being a frustrated consumer,
05:39I like to be outdoors, doing my workouts,
05:41but I couldn't bring my gym with me anywhere.
05:44This product come to me through a dream.
05:47My mum handed me this product in my dream.
05:50When I was down, I was really down.
05:53I was going through a tough time in my life.
05:56I lost me both parents.
05:58I lost me very good friends.
06:01And I really found myself through my training.
06:04But in all honesty, I didn't really even want to be here anymore.
06:08I was that low.
06:12I was thinking of the end of my life.
06:18But you didn't.
06:19You took that and you created something that has just received a lot of praise.
06:26So, are you an engineer?
06:28I mean, this isn't just something that...
06:30I know it came to you in a dream.
06:32But I mean, this is brilliant design.
06:34How did you know to design it like that?
06:37Just being so passionate and normal, I wanted to work with my body.
06:40And how I was going to improve my workouts.
06:43But after the time of using it, I realised the effects of what it was doing to me.
06:48Not just physically, but mentally too.
06:51So, through Dragons then, I rent both into electrical property.
06:55From then, I've got all my designs.
06:57I've even got a patent on it.
07:00And it's just been a working process for me.
07:03That's brilliant.
07:03So, are you selling them already?
07:05So, we've...
07:0530 has gone live the last couple of months.
07:08So, go on then.
07:09How many have you sold?
07:10Up to now, 50 have gone.
07:12There's been no paid advertisements.
07:15It's just been through word of mouth and a little bit on social media.
07:19And how much do they sell for?
07:20So, the full kit has gone for £170.
07:24What's the cost?
07:25So, it's costing me £40.
07:29It's working out around nearly a 300% profit margin.
07:33I think it's got legs for sure, you know.
07:36It really is something I've not seen.
07:37I've seen lots of variations of resistance bands.
07:40Yes.
07:40But having that strap on your back and having the resistance,
07:44it makes a bodyweight workout suddenly a lot more interesting, doesn't it?
07:47I believe that this is a game changer and this will be a revolution.
07:51The fitness industry, I really do believe that, like.
07:54I do think, even so, the price is still out of reach
07:57for a lot of people.
07:59So, do you believe there's a world at scale
08:01where you could get that cost of £40 per unit down
08:04and the retail price down as well?
08:06Yes, definitely.
08:07What do you reckon you could, in a dream scenario,
08:09like, what could you get that cost per unit down?
08:09I'd like to be able to get three full of £100.
08:12Yeah.
08:12If you could get that price down to less than £100,
08:15I really think it's a really, you know,
08:17it could be a high-volume business.
08:22Joseph.
08:23Hi, Sarah.
08:24Great job on this.
08:25I mean...
08:25Oh, thank you.
08:26This is not an area of the market I know overly well,
08:28but I watched Joe use it there
08:30and I felt like I desperately wanted to go and try this.
08:34So, I think you are absolutely onto something.
08:37Oh, thank you.
08:37Now, I want to dig a little bit more into this intellectual property,
08:41into your patent. So, what is the patentable step in there?
08:43So, the patent covers the first, the way it works as a whole,
08:47from how it's strapped around you and how it works.
08:50Pretty pricey patents, aren't they?
08:52Yes.
08:53I'll be honest with you, I've just sold my house to fund
08:59to be able to get the rest of the infantry,
09:03because I really believe in this product so much.
09:06How much have you spent in total so far?
09:08Up to now, everything I've sold my car.
09:12The house is going through now.
09:14I'm talking nearly £40,000.
09:16£40,000?
09:18Yeah.
09:18And will you talk me through the breakdown on that £40,000?
09:21Yeah, so, with the patents, it's ranged to nearly £10,000 now.
09:28I've also had to pay for my branding stock.
09:33So, what have you spent so far on stock?
09:36So, up to now, £18,000.
09:41I'm guessing you've pretty much spent all that £40,000 that you...
09:44Yeah, I've heard, yeah, I've spent all that money, yeah.
09:47So, this is, like, we need to get this investment today.
09:50Yeah.
09:51You need investment to be able to take this any further.
09:54I really believe that, yeah.
09:56But I have just sold my house, too.
10:00Which...
10:01I didn't want to, but I believe in it so much.
10:04You believe in it so much, yeah.
10:06I'm willing to do anything to make it succeed.
10:10Joseph.
10:11Hi, Peter.
10:12Hi.
10:13This has been a bit of a journey.
10:17It's the work what nobody else sees.
10:18That's the work what counts the most, I really believe.
10:22Great statement.
10:23Absolutely great.
10:24I like your other comment even more, though,
10:27when you said it's a gym in a bag.
10:28Yeah.
10:30And to see Joe there, who...
10:34Let's be honest.
10:36There's no question he's an amazing expert here,
10:39but to see his comments and listen...
10:42How does that make you feel?
10:46Proud.
10:49Just want to make me mum proud as well.
10:50My purpose in life is to make me mum happy up in heaven.
10:54It's been worth it.
10:55Your mum is looking down and she's proud, don't you?
10:58See it now with me. I really believe.
11:01100%.
11:02Joseph, I can see how emotional you are, mate,
11:03and it's...
11:04It's lovely to see how much this means to you.
11:07One thing I wanted to ask you,
11:08do you have a family?
11:09Do you have any kids or anything else in your life?
11:10Yeah, so I've got three children myself as products.
11:13It brought a lot of tension onto my family life as well,
11:16so I ended up splitting up my ex-girlfriends.
11:20But I believe this is my passion and my purpose in life.
11:23I want to show my kids that if you really want to do something in life,
11:28you've got to give it 100%.
11:31One of the quotes I live by, my dad said this to me once,
11:33he said, if you're going to miss the bus, miss it running.
11:35Yeah.
11:35And I've always thought about that.
11:36Like, you've got to have a go,
11:37because if you believe in something so much like you do,
11:38I mean, I can't imagine putting my house on the sail
11:41to fulfil my dream.
11:42That's so brave of you.
11:44But maybe there's a world where you ain't got to do that, you know,
11:46and you can get a couple of the dragons on board.
11:53I've got to give you a little cuddle,
11:54because I'm feeling a bit emotional now,
11:55because you're up here, mate.
11:56You're struggling, ain't you, a little bit?
11:57You're all right, mate.
11:58You're doing brilliant, mate.
12:02You're doing great.
12:03It's emotional, man, but listen, you're doing great.
12:05Have a breather.
12:07Because I love it.
12:16OK, right.
12:17Sorry, I found it quite emotional then.
12:19So, pushed it down.
12:21I'm back.
12:22Yeah, Joseph, listen, you are my kind of guy,
12:25and this is my kind of product.
12:27And obviously, I've built my business with social media.
12:30I've got a huge community, you know,
12:31millions of people every month doing my workouts.
12:32And so, I see myself on my YouTube channel,
12:35using this, doing a workout, and saying,
12:37look, this is a great option.
12:39Do you want to try something different?
12:42So, I would love to offer you the money,
12:44the full, you know, £70,000 you're asking for.
12:47And I also think, for me to kind of really be invested in it,
12:50I think, for 25% of the business, I'd be well up for it.
12:53I think we could have a great journey together.
12:54I think we'd get on really well.
12:56And I think, in the UK, I could really help launch this product.
12:58And then, who knows where it could go from that point.
13:00So, you're up for it. I'm in.
13:02That's my plan, to just prove it to the UK,
13:05then go to Europe, and even where it was.
13:09Joseph, it's such a wonderful thing.
13:10Such a wonderful thing.
13:11Thank you, Stephen.
13:12You went through a moment of hardship,
13:13and you've turned it into a product,
13:15which is clearly, by all estimations,
13:17I mean, I trust Joe's, you know, perspective on this
13:21more than anyone on planet Earth.
13:22And for him to say that it's useful, I think,
13:24is a massive testament to what you've done.
13:26So, I want to congratulate you for that.
13:29However, as an investment proposition,
13:32the proposition is less interesting to me,
13:35in part because of the defensibility of this kind of product.
13:41So, I'm going to say that I'm out,
13:42but I wish you the very best, Joseph.
13:43Thank you very much, Stephen. I appreciate that.
13:48Joseph, I think you've got a brilliant product.
13:51I think you've done unbelievable to get it this far.
13:55And I can see this on one of the biggest TV shopping channels.
13:58in America selling hundreds of thousands of units.
14:01No problem.
14:02It is that good of a product.
14:04So, I'm prepared to offer you all of the money
14:07that you're asking for...
14:10..for 25% of the business.
14:13Thank you for your offer, Sarah.
14:18Joseph. Hi, Deb.
14:20Amazing. You're amazing.
14:21I mean, um, you know, your motivation,
14:24your ultimate strength through difficult times,
14:28and turning that into this and this business
14:31that is, from what I'm hearing from everybody,
14:34is a properly good product.
14:37I could make you an offer,
14:40but I wouldn't want you to accept it.
14:43Okay. And the reason I say that
14:45is I'm not your best partner.
14:47Okay.
14:48You've had an offer from people
14:50who would make a better business partner for you
14:52than I would,
14:53and I think you deserve that.
14:55So, I really wish you all the best,
14:58and you've got some great offers,
15:00and that makes me happy.
15:02But I won't be investing.
15:03I'm out.
15:05Thank you for your feedback.
15:10Well, Joseph.
15:12It's all right, isn't it?
15:14Peter, sure, it's been emotional.
15:17It's awesome.
15:18It's awesome.
15:19I mean, I wanted...
15:20The minute you got Joe Wicks exercising like that up there,
15:24I wanted to invest.
15:28So...
15:30I'm pretty good at taking products around the world.
15:34selling those products, particularly online.
15:38In fact, I do that for over 45 different brands today.
15:45Room for one more.
15:47Room for one more.
15:50You know what, Joseph?
15:52Room for one more.
15:53You know what?
15:54There is 100% room for one more.
15:57And I'll tell you what I want to do.
15:59And it's only if Joe accepts it,
16:02but I would want to go on the journey with Joe specifically
16:06because hearing and knowing
16:09not only what Joe does,
16:10but also the heart part.
16:12Okay.
16:15So I'd like to match Joe's offer,
16:18and I would like to offer you the same as Joe's offered you.
16:21I'd like to offer you $70,000 for 25%.
16:23Okay.
16:30Brilliant.
16:32Thanks, Peter.
16:34It leaves me.
16:35Hi, it's okay.
16:38Look, I know what I can bring to the party.
16:40Sourcing, I can help you definitely.
16:43And I'm just wondering whether I could take 12 and a half percent
16:47as well for 35 grand.
16:49Would the two of them, there'd be three of us,
16:51if they want another Dragon on board,
16:53where each one of us contribute something different.
17:01Now, first of all, I don't know if Peter and Joe
17:04would accept me as a third partner or not,
17:06but I know what I can bring to the party.
17:10So that way, for 37 and a half percent,
17:12you get a hundred odd thousand.
17:14Would that be okay, Joe? Meet yourself.
17:17Right.
17:19Right, so, I don't know if I should be a real Dragon here
17:22and just go solo with you
17:24and we ride or die together,
17:26or we go with these guys.
17:29Or, or, you could go with me.
17:31We could go with the two of us.
17:33I would love to share.
17:35And honestly, Joe,
17:36there's nothing that either of these two bring
17:37that I couldn't do in abundance.
17:39By the way, there is a lot.
17:42You couldn't take this international the way I could.
17:44You're amazing at the, um,
17:46the kind of TV advertising, right?
17:48I know what I can bring to the party. Retail.
17:50And I think America.
17:51Manufacturing.
17:55I don't know, I'm confused now.
17:57It's like, I've never been in this position, but
17:59we all want a piece of the pie, don't we?
18:00We all want to get involved.
18:01It's a good place to be, Joseph.
18:03You've created a lot of demands.
18:04Joe, make the decision.
18:09Can I go and talk to the wall?
18:11Let me go.
18:12Let me talk to the wall, because I've got my notepad.
18:15Hang on a sec.
18:16Let me think what I want to do.
18:17Is it this here?
18:18This wall here, right?
18:20Okay.
18:21You can also talk to your new mate, Joseph, at the wall if you want.
18:24JJ.
18:26Yeah, Joseph, come over here.
18:27Come have a word.
18:27Come and have a little...
18:30Because I want it to be your decision, not mine, really.
18:32What's your...
18:34I'm a guarantee, right?
18:35I'm in.
18:36Do you want to go with the two fellas or me and Sarah?
18:42What do you reckon?
18:46I...
18:48I mean, it's life changing money.
18:50You ain't got to sell your house.
18:51That's a win, isn't it?
18:52Yeah.
18:52You ain't got to sell your house.
18:53You got the cash.
18:53You can grow it.
18:54I can market it big time, do you know what I mean?
19:01Yeah?
19:02All right.
19:02We'll do it.
19:03Go with your gut.
19:04If you're going to miss the bus, miss it running.
19:06Okay.
19:10In all honesty, I think the three of us would be a dream to.
19:15So, Tucker, Peter, and Joe, I know the individual,
19:19things what you can do, and I'll be happy to accept your offer.
19:23Okay.
19:24Well, I'm happy.
19:25Are you happy with that, Tucker?
19:26Yeah, I'm happy with it.
19:27Happy with that?
19:28Yep.
19:28We've got a deal.
19:29Great.
19:31I can't believe it, Joseph.
19:33Cut me out.
19:34Congratulations.
19:36Brilliant.
19:36Great.
19:38We'll make this happen.
19:40Thank you for sharing it.
19:42What a great business.
19:44Bye now.
19:45Take care.
19:48Joy for Joseph.
19:50Thanks, Dragons.
19:51Who's gone from his lowest ebb to the crest of a wave.
19:57The fitness entrepreneur leaves the den with £105,000.
20:02Well, we did it.
20:04And the backing of a trio with the combined expertise to make the competition sweat.
20:11I think I found a winning team there with the three dragons what I've got.
20:16So, it's exciting times ahead, I really believe.
20:19Do you know what?
20:20That's an investment that makes my heart sing.
20:22Yeah, it was lovely.
20:24I've had the pleasure of going from you today.
20:25I think it's just a little bit of a deal.
20:28I'm going from you today.
20:29Oh, thank you.
20:32Thank you so much.
20:38Hi, I'm Isa.
20:39I'm 29 years old, and I'm from Lancashire.
20:41Ishar, you can't be like this, all day long.
20:44You got this.
20:45And I'm Ash.
20:46I'm 25 years old, and I'm from Preston.
20:50Unfortunately I've had the pleasure of knowing Ash my whole life because we're
20:54actually cousins as well as co-founders. It's so funny. It's glad that we watch
20:59this on TV though. I know as kids. Being related in business has its ups and downs
21:03right as with anything that involves family. Some days you might bicker and
21:07argue openly and some days you're like brothers in arms. And you can't take any
21:11sick days. Because I'll come rocking up to his house to find out where he is if he does.
21:17We started this particular business 18 months ago and if you'd have told us
21:21we'd be here today, we'd have bitten your hand off. Chomp.
21:35Hello Dragons. I'm Isa. I'm Ash. We're the co-founders of Dissot, a new face in health
21:40and well-being. And we're here today to ask for £100,000 in return for
21:452.5% equity. Dissot is targeting a global and rapidly growing vitamins and
21:51supplements market, but we're doing it in a novel way. Based on over a decade of
21:56experience between us in the pharmaceutical and healthcare industry, we
22:00wanted to hit the market with a form factor that is innovative, convenient and
22:04with high absorption. Dissot vitamin strips dissolve in your mouth, requiring no
22:10water, no tablets and no swallowing. It's not just convenient, it's downright sexy.
22:17Simply peel open the pouch, place the strip on your tongue and let the magic dissolve. It
22:23seamlessly integrates into any routine and fits into any on-the-go lifestyle. Our
22:29products are vegan, sugar-free and made from carefully sourced ingredients.
22:34Over the last 18 months since inception, we've hit the market hard, bringing in sales of over
22:40£270,000 and securing listings with major retailers like Boots, WH Smith and Holland and
22:48Barrett Malta. We've also secured exclusive distribution partnerships in the US, Europe and the Middle East.
22:55But we're hungry for more. So which dragon is going to be the first to stick the tongue out for
23:00Dissot?
23:05A range of melt-in-the-mouth health supplements, including vitamins and collagen, is the proposition
23:12from Issa Patel and Ash Patel. Feel the pouch, place on tongue, let it dissolve.
23:19The pair are seeking £100,000 in return for 2.5% of their business.
23:24I'm not surprised these are flying off the shelves, they look like condoms.
23:28No-one wants dissolvable condoms. Yeah, nobody wants that.
23:33Aether and Ash may be hungry for a deal, but will any of the dragons be prepared to put their
23:38money where their mouths are.
23:44Can I just say, really great pitch.
23:48It wasn't pre-planned, by the way.
23:51I've got a ton of questions. So, how much funding have you had to get this to this point?
23:57To date, we've spent £380,000, so obviously when you account for the sales that we've made,
24:02we've made a net loss of £200,000.
24:05And where has the £380,000 come from? It came from myself and my family.
24:10So, private family funded? That's right, yeah.
24:12And we're all shareholders in the business, accordingly.
24:15And are you two related, or...? He's actually my...
24:18He doesn't like me saying nephew, but he's my cousin's son, he's my cousin.
24:22Yeah, so we're all family, big whole family, happy family.
24:25But yeah, he says uncle, but I'm only 25, he's only 29, so stick to cousins.
24:31So, I like that.
24:32And you guys talked about having a decade of experience between you.
24:36What specifically was your experience in this sector, both of you?
24:39So, yeah, my experience has been quite broad.
24:41I started off in managing consulting in healthcare.
24:43And then after that, I set up two businesses over the last four years.
24:48One is an online pharmacy business, which is doing really well now.
24:51And the other business I set up was to support older people with their medications
24:55to help them develop good routines and that confidence so that they can take the medications as they need to.
25:02OK, excellent. And Ash, your...
25:05Well, mine's not that complex.
25:07So, I went to university, got a degree in marketing and, obviously, I joined the family business.
25:13I was a work part of the family business, so...
25:15Which was...?
25:16It was pharmaceutical industry, so we supply medications to care homes and nursing homes.
25:21And then, obviously, we wanted to do something around vitamins itself.
25:24Mm-hm.
25:24And that's where we came up with Disso itself.
25:26So, you guys really do have all the experience in this industry that you were talking about.
25:30That's impressive.
25:31What I really want to understand is, it seems really obvious.
25:35Mm-hm.
25:35And I'm sure I've seen other...
25:37I think I've seen, like, breath-freshening stuff.
25:40Glistering.
25:40Is there anybody else doing this sort of product in this space?
25:45Nope.
25:46We used to have a dragon sitting just along from me here, actually.
25:50Oh, yes.
25:50Who is Mr Vitamin himself.
25:52That's right, yeah.
25:53So, if he was still in the den now, what answer do you think he would give me as to
25:58why his company wasn't doing this?
26:01I think when VitaVitis was set up, it was still a very early market.
26:06People were still looking at capsules.
26:08Then, as capsules and tablets started to evolve, as you might have seen, gummies came out, for example.
26:14So, people have constantly been innovating in this market around different form factors.
26:17What we've focused on is, based on our experience in pharmaceuticals, is high absorption, which is what the strips provide.
26:23So, I would presume, actually, that dragon would be a great acquirer for this business in the long term, if
26:28he was active in the industry.
26:31Guys, I've just taken this, though.
26:33This one, the Derma one.
26:34Yep.
26:35Stephen just gave me.
26:36We shared, and it went on my tongue, and it dissolved, and it was great.
26:39Yeah.
26:40And we did it, because I put that one on first, and I was, like, almost gagging, because it stuck
26:45to my tongue and then stuck to the roof.
26:47Roof.
26:47And he went, oh, no, that's all right, mine's fine.
26:50Yeah.
26:50I went, can I have one of yours?
26:52And he gave me that, and his was fine.
26:54Yeah.
26:54He took one of mine, and what happened?
26:56It stuck to the roof of my mouth.
26:58Yeah.
26:58And mine.
26:58For about a minute, it was there, and I was sort of trying to style it out a bit.
27:02We didn't feel very comfortable.
27:03It's almost a numbing sensation as well.
27:04Is it a little bit numbing?
27:04Yeah, a little bit.
27:05At the top of the gum.
27:06Why is that?
27:07Why is something different?
27:07Why is something sticky and something dissolving on the tongue?
27:09So it all depends on the active ingredient itself.
27:12The more active ingredients we put inside a strip, the thicker it gets, the more difficult it is to, you
27:17know, dissolve.
27:18The reason why it sticks to the roof of your mouth is because maybe, you know, you've not got that
27:22much saliva in your mouth at that time.
27:24So if you drank a bit of water and ended it, it should, you know, just...
27:27But all of us had the same thing.
27:29Yeah.
27:29So that means that's 100%.
27:32So it might, like, if there's certain products, as Ash mentioned, have more active ingredients in them,
27:36and then, obviously, the viscosity of that specific product will be more.
27:41And has that got a lot of active ingredients?
27:43Because that's a simple one, that's just vitamin C.
27:46Yeah, so it's got an Eldermune extract.
27:48Eldermune is the trademarked ingredient.
27:50Right, so you've got two ingredients.
27:52That doesn't sound like a lot of active ingredients to me.
27:56So why is that sticking to the roof of our mouths?
27:59It's just the type of active ingredient maybe in there.
28:03Oh, it's the type.
28:04Yeah, sorry, just to clarify on the question about the roof of the tongue,
28:06is your concern the fact that it takes longer to dissolve,
28:10or is your concern that it's not a nice experience in your mouth?
28:12Not nice.
28:14So the mouth experience on that one hasn't been great,
28:16but, I mean, I'm not going to try them all to decide which ones work and which ones don't.
28:20But I understand that, you know, I do, because I'm vegan,
28:24I do actually take B12 supplements.
28:26It's the only one that I will do all the time.
28:29But I obviously put drops under my tongue.
28:31So I understand that, you know, dropping into my mouth is so,
28:34bearing in mind that you are introducing a different way of taking your supplements.
28:40What's the proof on that?
28:41What's your proof on efficacy?
28:44So when it comes to the efficacy, we are actually working with the University of Westminster,
28:49and they are carrying out clinical studies around the product itself,
28:54but they aren't completed as of yet, but there will be.
28:57OK, so you are actually going through clinical studies,
29:00because that's going to make the world of difference to you,
29:02to be able to actually make claims on your packaging.
29:05Well, I think coming from a background in regulated industries and healthcare,
29:08we're very aware of not making claims that are not backed by real science.
29:11So we're quite, we're really aware of that.
29:15Guys, great pitch, and honestly, I do respect innovation.
29:18Well, I'm so sceptical about creams, you know, anti-aging this,
29:22and powders and formulas and all these things,
29:24and it's another product trying to make someone ultimately feel healthier.
29:28But I'm a food guy, I'm a movement, fitness, hydration, sleep, food.
29:32So try and convince me why I should, if I walk past this in boots,
29:36why should I buy this over just eating really good food and getting a good night's sleep?
29:40He's a great salesman.
29:41Come on, give me your best pitch, I'm ready for it.
29:44When it comes to taking supplements, we're trying to prevent issues taking place.
29:50So we're not going to say and sit here and make a claim and say,
29:52having a derma strip for, you know, a few days is going to make my ball patch,
29:57you know, give me an afro again. It's not going to happen.
30:00It's about, you know, keeping on top of your vitamin supplements in your body.
30:06It's topping up.
30:07It's supposed to be a supplementary regime,
30:08not a replacement for a healthy and balanced lifestyle and diet.
30:11I think that's the case with any vitamin supplement.
30:13Because I don't feel like, I quite like my Barnet,
30:16and I've never put any cream in it, no shampoo.
30:18Well, I wash it every now and again, but everyone's like,
30:19what do you put in your hair? But I don't think I need the derma patches for my hair.
30:22But who is the customer?
30:23Who is the target audience in your mind who's going to buy this
30:26multiple times a year and build this business?
30:28We're going after kind of modern, on-the-go consumers
30:31who might not be getting into a good routine,
30:33taking vitamins and supplements because they're very busy
30:35and they want something that's convenient and that's easy.
30:39If you go on our socials, you'll see the kind of content
30:40and putting out there speaks that kind of audience.
30:43Right. And how long will you run with this business
30:47and really drive it forward before you say,
30:50you know what, it's not quite working?
30:51Or do you want to take this all the way sort of thing?
30:54I want to take it to the moon.
30:55Really?
30:57In terms of success, but I think for the time that we've been in the market,
31:00we've had great traction and we're fairly close to breakeven as well.
31:03So on the exclusive distribution partners we have outside of the UK,
31:06we are looking to bring in about 1.5 to 2 million revenue.
31:10And when you look at the margin and the unit economics of our product,
31:13that gets us to profitability in the next three to six months.
31:19Guys, I'm... It's really challenging.
31:22Maybe I've just picked out the wrong one.
31:24Stephen's just given me another one.
31:25Oh, yes. Oh, no.
31:27Oh, yes.
31:28And he gave me the energy caffeine one.
31:30It was on the roof of my mouth.
31:32I've had to put my finger in my mouth to drag it out.
31:35Oh, you're having a mer-peat over there.
31:37I'm having a mer-peat over there.
31:39Obviously.
31:40Strip, mate.
31:41Yes, it's got 50 milligrams of caffeine, potassium, sodium.
31:44It's strong.
31:46It is...
31:46I should have warned you on that one.
31:48You're going to be buzzing.
31:49Oh, yeah. You will feel it.
31:51He's got a cotton mouth already.
31:52That's the only one that's very hard to master change.
31:56It works.
31:57I never thought I'd be seeing you doing that one.
31:59See? The proof is in the pudding, ladies and gentlemen.
32:02Double drop and he's doing two at once.
32:04Tell him to do one at a time.
32:05Yeah.
32:05On the energy, it's really hard to mask the bitterness of the caffeine,
32:08obviously.
32:09We've tried very hard, but it is very difficult.
32:11But how do you take it?
32:13It's really challenging.
32:16Wow.
32:16We've not had someone had such...
32:18We've not had that many, you know, experiences,
32:20feedback in terms of it's difficult to swallow.
32:22I find that so hard to believe because your key selling point
32:26is that these are dissolvable vitamins or whatever on your tongue.
32:32And I think if you've got even one product in the range that doesn't adhere to that
32:37and get stuck in the roof of your mouth like what I've experienced,
32:41I'm surprised because you're both really two very strong characters.
32:45Very investable, by the way.
32:46You've presented brilliantly.
32:48But I think that's a problem.
32:50So for that reason, I'm out, but please go away and fix that,
32:54because I think you've got a chance.
32:57Thank you, Peter.
33:00Guys, I just want to say, yeah, I do think you've had a great idea.
33:04But for me, like, you know, and you're a great salesman.
33:06I do like, you know, you're good at...
33:07You know your stuff and you're both really intelligent.
33:09You really understand this product and how it works.
33:11You're clearly doing the research.
33:12But for me, I'm just such a sceptical.
33:14It's really hard for me to go against that sceptical mindset.
33:17So good luck from me, but I'm sorry I'm out.
33:19Thank you, Jo.
33:22Guys, I mean, I think you are really good.
33:26And if this had really grabbed...
33:28I mean, I would love to invest it in you.
33:30I mean, it's clear that you're very smart.
33:34It's very unfortunate that you've had so many people with this,
33:37in the den, with this experience.
33:40And if it is a problem, I suspect you guys will work it out.
33:43You know, because that's the guys you are.
33:45But I'm a little bit like Jo.
33:48I think we should find time in our lives for a healthy lifestyle.
33:52And so I'm not naturally leaning towards this.
33:55But I reckon you're going to make it work.
33:57But not with my investment.
33:59So I'm afraid I won't be investing.
34:01I'm out.
34:05Guys, when I look at your business, it's interesting what you said.
34:07This is an innovative new way to administer vitamins.
34:12The word innovation, I think, is not necessarily accurate here.
34:17Because to me, innovation is changing something for the sake of making it better.
34:21And I'm not convinced this is better.
34:24It's just different.
34:25And I don't see a huge opportunity in things just being different.
34:28So I'm going to say that I'm out, but I wish you the best.
34:30We appreciate it.
34:31Thank you, thank you.
34:34Guys, all you've got here is a new way of delivering vitamins.
34:38That's all you've got.
34:40And for what you're offering today, as an investment, it's not value for me.
34:44So I'm out.
34:45No worries.
34:46Thank you for your feedback, Zuka.
34:50Guys, you had me in the pitch, to be honest.
34:53It seems so ingenious.
34:56But then I experienced the product.
34:59And I haven't just tried one.
35:00I tried the collagen one.
35:02Then I thought I'll try the vitamin C, because that's something I'll move on to.
35:05And it's when I got to the energy one, and I had to physically take it back out of my
35:08mouth.
35:09That was... I knew you had a problem.
35:12So if some of these products work brilliantly well, and others don't,
35:16I couldn't encourage you more to take these ones off the market until you've got a solution.
35:21Because you are everything I would invest in in this day.
35:24This just doesn't live up to what I think you're capable of.
35:28So I'm sorry, guys.
35:29I won't be investing, and I'm out.
35:32Good luck in making it work somehow.
35:34Thank you very much for all your feedback.
35:34We'll definitely take it on board.
35:35Good luck, guys.
35:37Thank you so much.
35:37Take care.
35:38Take care.
35:38Take care.
35:40Isa and Ash may have drawn a blank in the den,
35:45but the pair still believe their business has a bright future.
35:50We came, conquered.
35:52We take Dissel to the moon.
35:55With all due respect, we will prove every dragon wrong.
36:01It's up to us now.
36:03We will prove them wrong.
36:16When Katriona Shovlin entered the den, seeking £40,000 for 20 per cent of her business,
36:24she hoped the dragons would buy into an unusual proposition.
36:29My exciting new business, Hen Weekend,
36:32is an all-inclusive five-star hotel for hens and ducks.
36:36You might be thinking, is she clucking mad?
36:39Well, I'm here to tell you that there is a great demand
36:42for this service.
36:431.3 million of us in the UK are now keeping hens as pets
36:47in our back gardens.
36:49Cats can go to catteries and dogs can go to kennels.
36:52So why shouldn't our birds have this luxury too?
36:55The accommodation certainly offered all the trimmings.
36:59My luxury five-star hotel includes a luxury Henny Moon Sweep,
37:03all-inclusive buffet, the bar is open till late
37:06and a bathtub for ducks.
37:08Forget the Copacabana, this is the ultimate Copacabana.
37:11A cock-free zone where all the ladies can relax.
37:15Did you actually just say those words?
37:21Sorry, can you just say that again?
37:23Am I allowed?
37:25Actually, no.
37:27Catriona may have cracked most of her audience up,
37:30but she'd left the den's lord of the one-liner
37:33in danger of being knocked off his perch.
37:36There were more puns in that pitch than I did in the entire series.
37:40Well, I'm definitely going to ask you whether you are plucking mad.
37:43Yeah.
37:43Because we need to work out if this is a business or not, don't we?
37:45Yeah.
37:46So, what have you turned over the last 12 months?
37:48Turnover was £4,124 and net profit £3,377.
37:55OK, so it is laying a little bit of dough for you.
38:00That was rubbish.
38:01That was nowhere near as good as Catriona's.
38:03It'll get better, trust me.
38:06Sadly, it didn't.
38:08Joe Wicks wanted to keep abreast of where the idea came from.
38:11I'm really fascinated by your love for chickens and hens.
38:14Like, where does this kind of love for them originate from?
38:17So, I've always had a wide variety of animals growing up.
38:20I actually never had chickens
38:22and I think they're just so underrated and misunderstood
38:26and I just want to see a better future for them as animals.
38:31Deborah Meaden found an affinity with the fellow chicken lover.
38:35I obviously love you and I love what you're doing.
38:38But she was less keen on the company's poultry profits.
38:42At the moment, whilst my heart loves this,
38:45it's really not an investable business
38:48because it's at a very, very low level of income.
38:51So, what's your plan?
38:53I'd like to open different coops in different areas, so...
38:57But what does that mean?
38:58Because people, presumably, could just do this anyway
39:00without you being involved at all.
39:02So, how do you make this a business for you?
39:05I make this a business for me
39:06because, obviously, my love and care
39:08and the importance of animal welfare.
39:11But how do you make money?
39:12If somebody else sets up a hen hotel somewhere else,
39:15they can just do that without you being involved.
39:17So, how do you make sure
39:18that you actually make money out of this business?
39:25Good question.
39:28Stephen Bartlett was first to cry foul on a deal.
39:31I don't think there's an investment case in this.
39:34So, I'm going to say that I'm out.
39:35But I think the great success of this business
39:36will be all the wonderful hens you give a good life.
39:38Thank you very much.
39:40And sadly for Catriona,
39:42none of the dragons believed
39:44she was sitting on a golden egg.
39:55Hi, my name is Emma.
39:56I'm 42 years old and I'm from Bournemouth.
40:00I'm a sports mad parent and my boys play football
40:04and it was actually during one of the football matches
40:07that the idea for our brand came about.
40:11Oh, here we go.
40:12Can I have a little kick about?
40:13Right.
40:14I'll go and go, you can have a little pity.
40:17So, I'm going to be pitching to Joe Wicks as well as the guest dragon.
40:20All right, here we go.
40:21Watch me teeth.
40:22Watch the teeth.
40:24Oh, mate.
40:24Oh, you can put it on that.
40:27Strike it.
40:28I'm involved in youth sport.
40:31I know he's got a real interest in sport fitness.
40:35Oh!
40:38Oh!
40:38Right in the side of Texas.
40:40He's a huge influencer.
40:42So, yeah, I feel like it's a massive opportunity
40:44to chat with him today.
40:54Hello, Dragons.
40:55My name is Emma.
40:56I'm the owner of Lacy's Defiance,
40:58and I am asking for £50,000 in return for a 10% share of my company.
41:03I have spent countless hours on the sidelines of a football pitch
41:07watching my sons play football.
41:09Now, shoelaces coming undone isn't a really major problem.
41:13However, in youth sport, it happens frequently.
41:16A lacy's is a silicone band which wraps around the outside of a sports shoe
41:20and holds the shoelace knot in place for the match.
41:23In England alone, it's estimated that 4.5 million school-aged children
41:27play football regularly and 700,000 play rugby.
41:33We launched the company in 2017.
41:35We've sold 350,000 bands to date.
41:39We work with a direct-to-consumer business model in the UK,
41:42and our bands are stocked with some independent retailers
41:45and grassroots clubs.
41:48Defiance is our clothing and accessories brand.
41:50We spotted a gap in the market for good quality children's sports accessories,
41:55such as outfield gloves.
41:57There is a huge scope for growth within the Defiance range
42:00where we can create a sports accessory brand specifically for children.
42:05I've got some products to show you.
42:07Thank you for listening.
42:10Silicon bands that hold shoelaces in place
42:14alongside a sports clothing and accessories range
42:17is the offering from Emma Berg.
42:20Hello.
42:21She's seeking £50,000...
42:24Hi, Jay. Nice to meet you.
42:24Nice to meet you.
42:25..in exchange for a 10% share of her company.
42:30Keen to understand more,
42:32Stephen Bartlett is first to kick off with the questions.
42:39Emma.
42:40Hello.
42:41Really interesting.
42:42So, you mentioned two different brands here.
42:44You mentioned the Defiance brand and the Lacey's brand.
42:47Yes.
42:47Are they the same company, the same brand, or are they separate?
42:50So, just the Defiance is the name, so...
42:53Of the whole thing.
42:54Yeah.
42:54So, Lacey's came first.
42:55Yeah.
42:56And then, I mean, we've got quite a loyal sort of base of customers
43:00and then they buy into Defiance afterwards.
43:03So, what percentage of your sales are coming from which products?
43:07About 80% is Lacey's.
43:09Okay.
43:1020% is Defiance.
43:11Okay, cool.
43:12So, could you run me through the numbers then from...
43:14If we do the last sort of three to four years?
43:16Yeah.
43:17So, 2022...
43:19Yeah.
43:20...turnover was £168,000.
43:22Yeah.
43:22Gross profit was £95,000.
43:26Net profit, £20,000.
43:282023 was £331,000.
43:32Gross of £130,000 and a net of £41,000.
43:36Yeah.
43:37And this year, we're forecasting circa £500,000, maybe a bit higher,
43:43so we're keeping it quite conservative at the moment.
43:46Okay.
43:46Where do you sell this product?
43:48Do you sell it on online marketplaces?
43:50Yes.
43:50So, about 70% of our sales are Amazon,
43:5330% are on our Shopify website.
43:57Emma.
43:58Hi.
43:58I put it on, I must admit, it's brilliant.
44:02It works.
44:02Those laces are not coming out either.
44:05How much do you sell these for individually?
44:08£9.99.
44:10And what do they cost you landed?
44:12So, £1.39 to produce and then our packing cards are about 7p.
44:18So, £1.46.
44:20Yeah.
44:21In total.
44:22Wow, that's pretty good.
44:23So, you've got a fantastic margin.
44:26Yes.
44:28Emma.
44:29Hi, Tika.
44:30So, these are coming out of China, I assume?
44:32They are.
44:33Yeah.
44:34And you mentioned about 70% of your turnover is Amazon.
44:38Yeah.
44:39Which is a bit of a risk.
44:40Oh, I know.
44:41I know.
44:41You know that, right?
44:41Yes, I know that, yeah.
44:43Because you realise that Amazon all of a sudden, sales drop, then the business is at risk.
44:48So, what is next?
44:49So, you've given this year approaching £500,000.
44:53Yeah.
44:53How do you see the year after?
44:56Tentatively, I'd like to say that we'll get to £1 million.
44:58And how are you going to do that?
45:00By rolling out.
45:01So, we've started to target the USA and Germany.
45:04Now, our route to market for those is via Amazon at the moment, just because it is the easiest route
45:09to market.
45:10There's also, sort of, more products within, sort of, the clothing line.
45:14Such as what on clothing?
45:16So, next, I would like to bring out a rain jacket that children can train in, so the freebies that
45:21they get with their kits.
45:21Because you realise, at the moment, you've got one product easy to manufacture.
45:27When you start getting into clothing, you've got to have sizes.
45:31You know, it's not so easy.
45:32It's working capital-wise.
45:34I think, to go to £1 million, you probably need minimum £100,000, £150,000.
45:39Well, babe, she doesn't need that amount of money.
45:41She's grown organically.
45:42She's got massive margins in her product.
45:45Yeah.
45:46Well, what I'm trying to get to is, to get to £1 million, you are going to need more than
45:49£50,000, that's all.
45:54Hi, Emma.
45:54Hello.
45:55Great pitch, and I love the product.
45:56Oh, thank you very much.
45:57It's amazing.
45:57I've got a little five-year-old boy called Marley, and he's obsessed with football, so I'm constantly having to
46:01tie his shoelaces up.
46:02Yeah.
46:03Yeah, it's a pain in the bum, but I really like this idea.
46:06I think, firstly, I think you've done amazingly.
46:08Like, £500,000, you're projected to do this year.
46:10That's a really amazing business.
46:12And what I want to ask is, like, has there been a moment during this journey where you've thought about
46:15quitting because it's been stressful, overwhelming, or have you always been so positive because the graphs are going up every
46:20year?
46:20Yeah.
46:21Yeah.
46:21No, I am really positive.
46:23I've had another company, the cleaning company, and had 60 members of staff, and I really hated it.
46:31This business, I don't hate it.
46:34It just gives me a buzz, and I think it's because I've been so involved in kids' sport now since
46:40they were sort of seven, and so I think it just, it's a real cliche, isn't it?
46:44You know, if you love what you do, it doesn't feel like work, but for me, I just, I love
46:48it.
46:50Emma.
46:51Brilliant.
46:51Hi.
46:51Hi.
46:52I'm going to feel like a bit of a buzzkill now, but I need to understand some technicals.
46:56OK.
46:57I was trying to understand your margins, because you've got very high margins, but you talked about 2023, £331,000
47:07worth of turnover.
47:08Yeah.
47:09And £130,000 worth of gross profit.
47:12Yeah.
47:13Because those margins are not that huge.
47:15That doesn't in any way match the £1.46 cost selling at £9.99.
47:22Yeah.
47:23So, what's going on in those margins?
47:25So, some bands are sold wholesale, and we were also sending a lot by air freight, just because we were
47:32kind of growing quite quickly.
47:34So, your transport costs must be enormous.
47:37They were last year.
47:38It was nuts last year with air freight.
47:42OK.
47:43So, am I going to disregard that going forward?
47:45What's changed in your margins that's going to make you more profitable?
47:49So, everything's arriving by sea, bar a very small, unless we were desperate for something.
47:57Right.
47:58So, then, going forward, so I can understand what that business looks like going forward, what are your projections?
48:05So, we're hoping to turn over to £500,000 this year.
48:10Yeah.
48:11Gross profit?
48:14Gross profit...
48:15I'm sorry, I haven't got that.
48:18So, you see, that's quite important, because...
48:22..um...
48:22..because you're saying the gross profit wasn't good enough, and therefore I've changed some stuff,
48:26and what the end of that sentence should be, and therefore our gross profit is going to be.
48:35Yeah.
48:36No?
48:37Sorry.
48:40Gosh, it was all going so well.
48:42Yeah, I'm sorry.
48:43Then, Deborah rained on your parade.
48:46She did give a fair one and it was uncommon.
48:48And to be fair, I'm not raining on anybody's parade, Stephen.
48:51I'm trying to get to the bottom of a business, which I'd like to invest in.
48:55Right.
48:58Emma, what's your cost of acquiring a customer to your website?
49:05Um...
49:07I don't know.
49:08You don't know how much it costs to acquire a customer?
49:10No, it...
49:12Don't be such a buzzkill, Stephen.
49:15I'm sorry.
49:16I'm trying not to rain on your parade here, like Deborah did.
49:20Do you know what this kind of illuminates to me?
49:24It is that this is a business that's probably not ever going to wean off its addiction to Amazon.
49:33And the problem you have when you have a great product and it's sort of reliant on one online platform
49:38for its sales is the success will be its downfall.
49:41If this starts selling in high volume, everybody gets an alert.
49:45Everybody can see that.
49:47The platform themselves, but also your competitors around the world and your factory overseas, go, eh, business opportunity.
49:54And then what happens to this investment?
49:58It's very easy to replicate, isn't it, I suppose?
49:59It's very easy to replicate this if it shows traction.
50:02So, for me as an investor, this isn't a business for me, so I'm going to say that I'm out.
50:06OK, thank you.
50:08So, I disagree with Stephen.
50:10I don't have an issue around Amazon.
50:13Tuka, Peter and myself invested in a business in the den that was pretty much solely on Amazon.
50:21Hugely successful.
50:23Just knew what they did and built out from that key product.
50:26So, that bit doesn't worry me.
50:30What does worry me is that I have absolutely no idea how profitable this business is going to be.
50:37Because you don't know what your margins are.
50:39And it could well be that had you been able to express the margins to me and what was going
50:45into the future,
50:45I could be saying two very different words.
50:48Because you're really good.
50:49You have me.
50:51So, because I just don't understand, I can't invest.
50:56So, guess which two words I'm about to say.
50:58I think I know what you're going to say.
51:00I'm sorry, I'm out.
51:02OK.
51:05Emma.
51:05Yeah.
51:06Hi.
51:07For this business to ever be investment ready, you have to understand how the business works from a numbers perspective.
51:16Because if you're going to ask for any amount of money and yet you cannot answer simple questions like,
51:22what is your gross margin?
51:23What is my cost of acquisition?
51:25Any investor is going to recognise that you are going to take in money, spend it in areas where you
51:32do not know whether it's going to work or not.
51:35You've come in today, it's impossible to make an investment.
51:38And you've made it impossible.
51:41So, for that reason, I'm going to say that I'm out.
51:45Emma.
51:47I like it.
51:48I understand it.
51:50You know, not just as a mum, I can totally look at this and see exactly the application.
51:55Mm-hm.
51:56I think you've got something here.
51:59However, I'm not convinced you'll ever grow your sales to a million.
52:02I think it'll be a good business.
52:04I don't think it'll become a big business.
52:06I don't think there's the potential for it to.
52:08So, in looking at it here, I don't think it's an investment for me.
52:11So, I'm out.
52:12OK, thank you.
52:16What's your end goal?
52:16Have you got, like, a personal goal?
52:18Because with every business, there's always that vision of, like, yeah, I want to build something,
52:21I want to have a lifestyle and I want it to be successful.
52:23But do you have a personal goal?
52:24Like, in five years' time, do you really want to be grafting like this?
52:27Do you really want to be working, like, as hard as you are now?
52:29So, I'm in a really kind of bit of a transition in my life at the moment.
52:34So, 18-year-old, he's leaving in August.
52:37That's one gone.
52:3816-year-old.
52:39So, I'm going to have an empty nest.
52:41So, at the moment, I feel like I can actually put way more into this than I was doing before
52:46because I'm not kind of juggling the young mummy-hood as well as the business.
52:52No, I can see it.
52:53My mum said the same.
52:54When we all moved out, she said she completely lost her identity.
52:56So, when she felt like we didn't need her, we all need her, we love her to death.
52:59But, you know, you have that time and actually you've got the drive to build something.
53:02So, I think you should keep it going.
53:03I really do.
53:04I think it's a great business.
53:04I think you should continue it.
53:05But for me, personally, it's not saying I really believe in myself.
53:09But I want to wish you the best of luck and just let you know that I'm out.
53:11Oh, thank you.
53:12Yes.
53:16Ah, Emma.
53:17How do you feel?
53:19Oh, exhausted.
53:21Look, it doesn't take it away from you that you're going to turn over 500,000 this year.
53:27You know?
53:27So, I wouldn't worry about what anybody said.
53:31And to me, somewhere there's a margin.
53:36It's how do you extract it.
53:38Mm-hmm.
53:39So, at the moment, if you add it all in, it's £1.46 landed.
53:44Yeah.
53:48So, if you halve the cost, would that make a big impact on the margin?
53:54Yeah.
53:55Big impact.
53:56Yeah.
53:59Because I believe that I can save costs.
54:04Okay.
54:08Um...
54:10Okay.
54:13I can see where you're at.
54:15You know, you're at that point where something's going to happen to the business.
54:19So, I'm going to make you an offer.
54:24Okay.
54:25But it comes at a price.
54:28You ask for £50,000 for 10%.
54:32I'll give you all of the money, but I want 40% of the business.
54:36Oh!
54:37What?
54:38Wow.
54:39Well, you guys didn't offer.
54:40Oh!
54:41If you were so brave, what did you offer?
54:43Come on, then.
54:4440%.
54:44Do you want to make a counter-offer?
54:4640%.
54:46I'm not that brave.
54:48Exactly.
54:48The risk is high.
54:49Yeah, I'm not that brave.
54:53Can I get a glass of water?
54:55Sure.
54:55Yeah, if you go back to the wall and have a sink.
54:57Have a chat with a wise wall.
54:58There's one on the window ledge there for you.
55:02Against the run of play, Emma secures an offer from Tuca Suleiman.
55:07Unbelievable scenes, isn't it?
55:0840%.
55:0940%.
55:10This is going to cost you.
55:12But at quadruple the 10% that was originally on the table,
55:16could it be too high a price to pay?
55:27I've always wondered what the wall says.
55:28It doesn't say a lot.
55:33I'm really grateful for the offer.
55:36Would you consider reducing your equity
55:39if the money did come back to you?
55:43Within?
55:44Within 12 months?
55:45Mm-hm.
55:50So, if the money came back within 12 months, would you reduce to 30%?
55:59Yes.
56:00I think we've got a deal.
56:01Great!
56:02Yay!
56:05We'll make a hit of this.
56:07Euphoria for Emma.
56:08Get in.
56:10Thanks.
56:11Lovely to meet you all.
56:13She's tied up a deal with a dragon that could see her business expand at a rate of knots,
56:19even if she was put through her paces.
56:22Oh, my goodness.
56:23Really exhausted.
56:25Yeah, it was very intense.
56:27I mean, Tuka drove a hard bargain, but I think the value that he's going to add to the company
56:32is just going to literally just take it to the next level.
56:36I think you got a great deal there.
56:37You did, but what about...
56:38I thought you needed £150,000 to be able to grow this to a million.
56:41Well, maybe she does.
56:42Maybe I'll give it to her.
56:43You never know.
56:43She's going to want to give you her money back because she's desperate.
56:46You've got a lot to save from somebody who hasn't invested.
56:48I have.
56:49I think the future for Lacey's is really, really exciting,
56:53and I think this is going to just skyrocket things.
57:07I'm going on Dragon's Den.
57:09Don't screw it up.
57:10Coming up on the new series of Dragon's Den.
57:13Well, I didn't see that coming.
57:16There's a dog coming.
57:17There's a dog coming.
57:17There's a dog coming.
57:18Gosh, I feel a bit choked up.
57:20What's the strategy?
57:21Get a dragon.
57:22Is that good business?
57:23Everything about this is genius.
57:26Trinia, doesn't it look like you agree with that?
57:27No.
57:29And so there was one.
57:30That was one of the best pictures I've seen in the day.
57:34Oh, yes.
57:36Wow.
57:36You're scary, apparently.
57:38Why?
57:38You look a little bit like cyborgs.
57:40I am a dragon.
57:43Well, I don't know what it is, but I love it.
57:45Have you not seen flowers before?
57:46If you think a dragon's been particularly vicious,
57:48you can tell them that they're out.
57:50Is that something you would be open to?
57:52I haven't got a clue.
57:54It's stressful, isn't it?
58:04Like, why?
58:24Well, let's talk all this about constraints in the world.
58:26You tell me I'm a student, and you see you next time,
58:26So I'm going to get out to you.