- 7 weeks ago
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TVTranscript
00:14Hello, my name is Yanis Maglo, currently I live in Leeds, originally from Ukraine.
00:20Exciting, yeah.
00:22I arrived two years ago after the UK opened the hosting program for Ukrainian refugees.
00:27When I just arrived, my first thought was, everything looked like in a Harry Potter movie.
00:35Tuukka, competition. Looks good quality.
00:41Yana has brought along some backup to help her pitch.
00:45My team's so exciting, I just don't want to turn them down and, you know, fail this.
00:51But she'll be doing the talking in the den,
00:54and is hoping the language barrier won't prove insurmountable.
00:58I worry that I will get nervous or won't understand what they're asking me about.
01:04So, of course, it's a big responsibility.
01:18ORCHESTRA PLAYS
01:34INSIDE
01:35My name is Yanis Maglo. I'm Ukrainian refugee. Two years ago, I arrived to the UK with nothing
01:42but with my backpack and laptop after full-scale invasion of my country and launched Nenya Fashion
01:47Limited. Today, I'm here seeking £80,000 in exchange for 10% shareholding in my company.
01:55Nenya, it's a distribution company which represents high-quality Ukrainian product
01:59for international markets. Our mission is to help Ukrainian companies increase their sales
02:05and support economy by taxes, and also create new working places for Ukrainian refugees in the UK.
02:12Currently, we have 98 wholesale partners across three continents and cooperate with two department
02:18stores in the UK and US. Since one year, our turnover reached £100,000. My goal is to build
02:26the biggest distribution company with the best Ukrainian products and services. Nenya,
02:30made in Ukraine with love and bravery. Thank you.
02:35Gosh, I feel a bit choked up. I don't get choked up very often, do I? Sorry.
02:42Can I propose to you to see some samples of my product?
02:45Yeah, please.
02:46I'd love to.
02:49A distribution company offering a range of products manufactured in her native Ukraine
02:54is the proposition from Yanis Maglo.
02:57Yes.
02:58Let me see which one am I going to take, so I can see the products.
03:03Yanis Maglo is seeking £80,000.
03:06You've got some great stuff here.
03:08In return for 10% of her business.
03:12I want to say thank you for my models.
03:15Great job.
03:16Thank you very much.
03:18Her models may have finished their work, but Yana's is just beginning, and Peter Jones
03:24is first up with the questions.
03:29Yana, it's incredible, actually.
03:32It's quite a heart-wrenching pitch, and yet actually quite inspiring.
03:40So, looking at the business that you've created, you've done £100,000 turnover in the first
03:46year, which is fantastic.
03:49You've mentioned that you have all of the product manufactured in the Ukraine.
03:54Yes.
03:55Whereabouts do you have it manufactured?
03:58So, currently I have like five brands in my portfolio.
04:01Five brands?
04:02Yeah, most of them originally manufactured in Kharkiv, it's east of Ukraine, but they
04:10moved their manufactories closer to west part of Ukraine, because it's too dangerous.
04:15So, today you're pitching five brands, or are you pitching one brand?
04:20Today I'm pitching company, yeah.
04:21The whole company?
04:23Yeah, the whole company.
04:24Okay.
04:25So, you don't own any of the brands.
04:27These are products that are manufactured all in Ukraine.
04:29Yes.
04:30And you then distribute those products into other markets?
04:35Mm-hmm.
04:36And do you have an exclusive license?
04:38Yes.
04:39I am an exclusive distributor of them brands for all the countries except Ukraine.
04:47At the beginning, my idea was to try to sell in retail.
04:52Wholesale came from nowhere.
04:55So, I went to the first exhibition in the UK and had quite big success there.
05:02And step by step, I started to add new wholesale partners.
05:07And for now, for this day, I have 98, and we're adding new partners every two months.
05:14But you said you did £100,000 turnover.
05:18Doesn't sound that big, if you've got all these partners.
05:21Yeah.
05:22So, let's say I'm giving you numbers for finish my financial year.
05:30So, yeah, for today it will be bigger, first of all.
05:34Second thing, wholesale started not at the beginning.
05:37OK.
05:38So, last month's sales.
05:39What did you sell last month, for example?
05:41Er, £15,000.
05:44OK.
05:47Yana.
05:48Hi.
05:49Sorry.
05:50I had quite a reaction.
05:51My sister has a Ukrainian lady living with her, and her son actually works for me.
05:56So, I was very touched, because I get to hear every day, you know, it's not like you
06:01left your country and forgotten about it and building a new life over here, you know.
06:07And so, it really touched me.
06:09So, can I just ask what you did when you were in Ukraine?
06:13Because you're clearly understanding the business language.
06:16So, what were you doing when you were in Ukraine?
06:18First of all, I have a master's degree from finance.
06:22In Ukraine, I was the owner and designer for my own brand of women's clothes.
06:29And I had, like, a few shops, partners around Ukraine, beauty salon and manufacturing.
06:38So, in general, yeah, I had this background.
06:41Well, that's quite an important piece of information, because it does find, it sounds to me like
06:46you have hit the ground running, which showed me that you must have something in your history,
06:51because you have nowhere to go and what to do.
06:55Yeah.
06:55Yeah.
06:59Jana, you talked about the sales increasing.
07:02Have you got a forecast for this year?
07:06So, for this year, I think it will be £700,000.
07:12How does the business jump up from £100,000 last year to £700,000 this year if you're making
07:17£15,000 a month?
07:18So, in my strategy, we will add, we're adding two new wholesale partners every month.
07:25They make an order four times per year.
07:29So, I will increase the numbers of wholesale partners.
07:32And then I will add another four brands, and it will be, like, nine.
07:37How much have you spent on this business?
07:39So, I started it from my personal money, and I think it was near £5,000.
07:47It's pretty incredible that you've done all of this with just £5,000.
07:51Those were your personal savings before you arrived here?
07:54Yeah, so, I escaped so quick and just grabbed something that I had at home, really.
08:02Did you grab?
08:04I packed laptop, some cash, my documents, and everything that I can sell.
08:12And you spent all that cash?
08:14Yeah, and actually, this cash was the first investment in the company.
08:21Okay.
08:22And why did you want a Dragon in particular?
08:27Unfortunately, as a refugee, I can't take any financial loan from,
08:31any loan from financial institution here.
08:34Because they expect that you give this loan back for six months before your visa will be finished.
08:42And it can affect your current financial situation in the company.
08:46So, not make any point for me.
08:49In general, I can go and take a loan.
08:51But it will be so expensive for me.
08:54So, it's bringing me to the idea that probably I need to find a person who will believe in me
09:03and the mission, what I'm doing.
09:05And, like, we'll see where I'm going to be for, like, five years.
09:12Where are you going to be in five years?
09:17I want to be a biggest distribution company.
09:21And, in general, I'm not really wanting to stop only on the fashion business.
09:27I would like to add some what we're producing the best in Ukraine and bring it to the rest of
09:36the world.
09:37You're very driven, aren't you?
09:39Where does that come from in you?
09:42Oh, let's say, when you're losing everything, that you work and your home and everything,
09:48and you need to build your life again, this is driving you a lot.
09:55Plus, I really want to help and do something for my home country.
10:00Are your family here?
10:02No.
10:02They're in Ukraine?
10:03No, I don't have a family.
10:06But a lot of my friends in Ukraine, too.
10:11Jana, Chuka.
10:13Well done.
10:15So far, so good.
10:17So, let's take this item here.
10:21What would the factory price be to you?
10:26This item, £26.
10:28And how much do you invoice it to somebody else for?
10:32£57.
10:32So, if that's £57 wholesale, that will sell for about £200.
10:39Mm-hmm.
10:40Correct?
10:41This jumper costs £120.
10:47So, when I look at this, it's very high-end prices, yes?
10:53Mm-hmm.
10:53So, you wouldn't have that price point in Marks and Spencers.
10:58It would have to be Harrods, Harvey Nichols, or Small Stores.
11:03Yeah, it's actually where I'm going.
11:06But I think you, personally, I think you will struggle because of the market you're trying
11:16to aim for.
11:17Could you lower your selling prices to get volume?
11:20In general, I think the price point for this quality is quite good.
11:24So, my customers say, wow, I don't see any, I have not seen anything like this.
11:30It's so basic, but at the same time, so unique.
11:34And, of course, some added value, it's that it's produced in Ukraine.
11:39Lots of people want to support it.
11:42I don't know.
11:42I mean, as the business stands at the moment, it's not investable.
11:47But I also know that with some guidance, you could get there.
11:57So, you're asking $80,000 for 10%.
12:01However, I think this business is going to need more money.
12:05But I don't want to put all the money on my own.
12:07So, on that basis, I want to offer you $20,000 for 5% if the other dragons agree.
12:16Well, Jana, I'm trying to separate heart from head here.
12:21Because at the end of the day, when people are buying their products, they want something
12:25they love.
12:26And I think you're hitting a sweet spot.
12:30It's not crazy expensive, but it is luxury.
12:33And it is lovely, and particularly the sort of leisure wear.
12:37But there is a bit of heart in this.
12:39Not my decision to want to make you an offer.
12:43But I kind of feel like I don't want to negotiate on your ask.
12:47So, I too am going to make you an offer.
12:50I'm going to offer you all of the money for the 10% that you've asked for.
13:00Jana, I think it's incredible.
13:03Because I just think, I think you're a really great bet.
13:06So, whether it's this, something else that you do, I would love to be on that journey with
13:10you.
13:10So, I'll offer you all of the money for what you asked for.
13:1310%.
13:19Jana, I absolutely love what you're doing.
13:21So, I am more than happy to offer you what you are asking for, either on my own or as
13:29part of a collaboration with other dragons as we work together to help you on your mission.
13:33So, I would offer you all of the money for 10%.
13:35I'll be happy to share that.
13:40Jana, do you know what?
13:41I am so, so pleased to be sitting here after three dragons have made you an offer for exactly
13:48what you have asked for.
13:50I can't tell you.
13:52And if they had not, my heart 100% would have taken over and I can tell you I'd be
13:58making
13:59you an offer.
14:01Because you have the people of Ukraine behind you.
14:03And I think this is a beautiful thing that you're doing.
14:08You are, though, ultimately a continuous reseller of somebody else's product.
14:15I'm not getting what is unique.
14:18So, because you've got these wonderful offers, I do have to sort of stay true to myself.
14:25So, sadly, I'm going to say that I'm out.
14:29But I just know that you've got the pick of the bunch here.
14:36Do you want to go to the back of the room and have a think?
14:42Jana has three viable bids to consider.
14:46With Deborah Meaden, Stephen Bartlett and Sarah Davies all meeting her original terms.
14:53£80,000 for 10% of the business.
15:04Thank you so much.
15:07It's always a pleasure to speak with smart people and who knows a lot about business.
15:13What about offers?
15:15I would love to have on my board Deborah and Stephen.
15:21So, if it's okay for you, we can split the share for 5% each.
15:30I would definitely share with Stephen.
15:32I would, and I would be very, I would, I'd get a little, I'd get a little leap in there.
15:38Thank you so much.
15:39Are we going to do?
15:40Yeah.
15:40Great.
15:41Oh, thank you.
15:44I'm so proud of you.
15:45You are so good.
15:47You are really good.
15:48Success for Jana.
15:50Have a nice day.
15:51Well done.
15:52Well done.
15:52Who has harnessed her entrepreneurialism to help her homeland.
15:58She leaves the den with £80,000.
16:02And the backing of a duo of dragons with the skills to turn her distribution business into
16:09a world beater.
16:11I didn't expect that four dragons will make me an offer.
16:16It shows me, like, when I came here really scared two years ago and I didn't know what
16:23to do, this shows me that my ideas and my vision can grow and, you know, do amazing.
16:33That was definitely part heart for me.
16:35100%.
16:36Yeah.
16:36Yeah, but well done for doing it because you've also got a great entrepreneur ready to go.
16:40Yeah.
16:41She's brilliant.
16:56Are you ready, buddy?
16:58Hi, my name's Andrew Brownlee.
16:59I'm from Suffolk, originally from North London.
17:02It's all exciting.
17:03And I'm here to play with dogs.
17:07Are you ready to go?
17:08I'll be coming in with Buddy.
17:10He's our Spaniel.
17:12Are you going to behave?
17:13Are you going to be a good boy?
17:14Buddy's been running around the garden, getting excited and showing me that I'm going to have
17:18to keep a tight lead on him, so he does as he's told.
17:22But Buddy isn't the only one to have benefited from some extra pre-den training.
17:27Good boy.
17:28Joe, my wife, has been testing me constantly.
17:31I don't like to say that I married a dragon, but she's acted like one.
17:34Actually, good boy.
17:36So, yeah, I'm looking forward to getting in there.
17:39Good boy.
17:40Come on in.
17:42Are you ready?
17:44Stay there.
17:46Hi, dragons.
17:47Before we start, can I just ask, who loves dogs here?
17:52Awesome.
17:53So, my name's Andrew Brownlee, and this is Buddy.
17:56He's the face of our business.
17:57And along with my wife, Jo, we run Canine Dip and Dive, a unique swimming pool for dogs.
18:01And we're here today to ask for £10,000 for 5% of the business.
18:06Canine Dip and Dive came about after I spent a number of years teaching dock diving to dogs,
18:10where they would take off and do long jump.
18:12And while I was doing that, I noticed that so many dogs are scared of water.
18:16So, I started to develop various methods to help these dogs overcome their fear and get them swimming.
18:21And what started off as a bit of fun at the weekend quickly turned into six days a week.
18:26In 2017, we started our pool and developed five different types of sessions for the dogs.
18:31So, we do puppy paddle.
18:33We do senior sessions for our older dogs.
18:36We do pool parties for dogs that just want to have a load of fun in the pool and just
18:40splash around with their friends.
18:42We do dip and dive.
18:44And we have our solo swim.
18:46And this is where we actually teach dogs how to swim.
18:49In 2019, we found it was so popular that we launched a franchise.
18:53And in year one, we opened our first pool in Hertfordshire.
18:56And since then, we've opened a second pool in Wyndham in Norfolk.
18:59And we now have one in Essex, which is doing extremely well as well.
19:04We get so many franchise inquiries, but people cannot find sites.
19:09Hopefully, this is where you guys come in.
19:10And so, what we're looking for is access to things like holiday parks, garden centres.
19:15Anywhere there's a small area where we can put one of our pools in.
19:19So, that's where it is.
19:20So, over to you guys to dive in with your questions.
19:24A swimming pool for pooches with the potential to go national...
19:28Hi, buddy.
19:30..is the offering from Doyen of Doggy Paddle, Andrew Brownlee.
19:34Do you want to come and say hello?
19:36He is a good boy.
19:37He's lovely.
19:38He is.
19:38He is seeking just £10,000 in exchange for a 5% share in his business.
19:43Come on, then.
19:44Good boy.
19:45Dogs and dragons almost always get along.
19:48See you in a bit, laddie.
19:50But without his buddy to fall back on,
19:53can Andrew still succeed in palling up with Peter Jones?
20:00Andrew.
20:01Hello there.
20:02Well, I absolutely love it off the bat.
20:07It's absolutely fantastic.
20:10And then you mentioned that beautiful word, franchise.
20:13Yeah.
20:13So, tell me, what does it cost to sell...
20:16So, our franchise this year is £15,995.
20:20And that includes everything.
20:22That includes the pool?
20:23That's everything.
20:24What?
20:24It's the pool, the dock, the T-shirts, the filters, the banners, the artificial grass.
20:30Yeah.
20:31So, pretty much everything you see.
20:33So, I pay you £16,000?
20:35Yeah.
20:35What do you make out of that initially?
20:37So, our set-up costs for the pool is around between £7,000 and £8,000.
20:42And then the rest of it is profit.
20:44So, you make about £7,000 or £8,000 gross?
20:46Yeah.
20:46Right?
20:46For each pool, yeah.
20:48OK.
20:48So, I pay £16,000.
20:50And then what do I pay each...
20:51Do I pay something each year?
20:5210% each month.
20:53And that's based on April to October.
20:56So, they're the months that we run because we're outdoors.
20:58OK.
20:58So, what's been the revenue, gross margin and profit the last 12 months?
21:02So, overall, since we started, not including this financial year, which has just gone,
21:06because we haven't got the figures in yet, it's £64,000 has been what we turned over.
21:11£44,000 has been our gross profit.
21:13And out of that, Joe and I have taken about £24,000 in dividends and salary.
21:18OK.
21:20Andrew.
21:20Hiya.
21:22They're so happy, aren't they?
21:23I don't know who's happier than dogs in the video.
21:26How are you?
21:29I want to dig into your numbers a little bit more.
21:31So, you said, since the business has started, you've done about £64,000 in turnover, which
21:38has given you and Joe about £24,000 in dividends and salary.
21:42Now, how are you living on £24,000 between the two of you?
21:46From our pool.
21:47Sorry, so your pool is not...
21:49This is our pool.
21:50The franchise side is they're two separate bits.
21:53That's right.
21:54OK.
21:54So, talk me through what you make in your pool.
21:56So, last year, we turned over just under £50,000.
21:59Our rent is £200 a month, including water and electricity.
22:03So, this £50,000, so on the £50,000 turnover, is nearly all of that profit?
22:08Pretty much.
22:09Yeah, I mean, £200 rent, we pay about £50 a month in pool chemicals.
22:14Occasional new wetsuit and a T-shirt that gets rich with some clothes, that's our expenses.
22:19Brilliant.
22:21How does this become a...
22:22By the way, I have to say, I love it.
22:25I've got a French bulldog called Pablo, and he's not a great swimmer.
22:30He fell in the pool one day, and I, fully clothed, had to dive in headfirst to save him.
22:34The problem is, I can't swim either, so my friend Danny jumped in, saved us.
22:38Wow.
22:41So, there's an open invitation for all you guys, bring your dogs, come and have a session at the pool,
22:45because it's so much fun, and we allow our owners to get in as well.
22:48Okay.
22:48Yeah.
22:48And how does this become a really big business to the point that an investor could make a return?
22:54I believe, based on the franchise inquiries we get,
22:57we could probably put two or three pools in every county of the country.
23:01We've got a lady in Canada who's desperate, there's a guy in France who's desperate.
23:05What does that look like, though, in terms of numbers, in terms of money?
23:08I've been looking at 50, 100 pools.
23:11There is no end to the potential, it's the sights that hold us back.
23:14I don't, I'm not convinced that you should pursue an investor.
23:22I think this is a great business for you, Joe.
23:26One that's going to make you fulfilled, one that's going to make these dogs fulfilled.
23:29Oh, it already does.
23:30Yeah, absolutely.
23:30Yeah, and, you know, having an investor can complicate that.
23:33I understand what you're saying.
23:36Because my time on the franchise side is limited, it doesn't take much time up.
23:42My time is on doing what you see me doing there.
23:45And once a pool's set up, other than monitoring and maybe some additional training if things are needed.
23:52But can I ask you a question then?
23:52So if you had to spend more time on the business side of things and less time doing that,
23:57which is what you clearly love, is that a trade-off you'd want to make?
24:02My stock answer is no, because that's my passion, that's what I love.
24:05And why are you here?
24:06Because there are so many dogs that would benefit and that would love to do this.
24:10What I'm getting at here is sometimes, I think as entrepreneurs, we feel the need to grow.
24:15Yeah.
24:15But I think it's important to realise what you're doing this for.
24:20And if you're doing this because it fulfills you and it makes your life fun and enjoyable,
24:26be cautious about the trade-off of bringing an investor into the business
24:30who's maybe, potentially, going to have a slightly different incentive as to why they're there.
24:36Yeah.
24:37So for that reason, I'm going to say that I'm out.
24:39That's fine.
24:39I wish you the very, very best and I think what you're doing is wonderful.
24:41Thank you very much indeed.
24:44Andrew, hi.
24:46So I'm not sure.
24:47I honestly, I was sitting here applauding what Stephen was saying.
24:51Yeah.
24:52Because he's so right.
24:54You know, people need to remember why they're doing the thing that they do.
24:58Oh, absolutely.
24:59I'm reminded every single day.
25:01Honestly, I couldn't, and I don't want to, I certainly, I couldn't express it as eloquently
25:06as has already been expressed.
25:09That's absolutely fine.
25:09I kind of don't want you to get investment.
25:11Yeah.
25:12And I am not being mean.
25:14Oh, that's absolutely fine.
25:15That's absolutely fine.
25:16And I think it's lovely what you do, but I won't be investing, Andrew, I'm out.
25:20No problem.
25:23Andrew, I disagree with Stephen.
25:26And I think maybe he's just misread what you're trying to do here.
25:30Because I think you clearly are passionate about it.
25:33You're like, you know, Gordon Ramsay's passionate about cooking, right?
25:36That's where he started his life.
25:37That doesn't mean that he hasn't looked to franchise his brand, grow his business, make
25:41money for investors.
25:42He's just said he doesn't want it.
25:43But he does.
25:45He does want to grow the business.
25:46He says it's not about the money.
25:47I'm not going to do it for free.
25:48I'll still take the money, but it's not about, I don't want, I will not make, become a millionaire
25:52doing this.
25:53And that's not the aim.
25:54The aim is to grow my business.
25:56The thing is, Andrew, what you could, what could happen here is by franchising this out,
26:00and I think that's quite clever, because I think you can have exactly what you want
26:04here and do it, and you can stay in that pool.
26:06Yeah, I believe that.
26:07And you can still have a separate idea where an investor can come in and invest in your
26:12concept and help to grow that out as a franchise.
26:16Go on, then.
26:16Because I think you could have something here.
26:19And that's the bit that he's missed.
26:23Go on, then.
26:25But I'll let Tuca take over where he's going to go.
26:29Okay.
26:31Andrew, yeah, look, it's fun.
26:33It really is.
26:34You enjoy it.
26:35And I, yeah, you've come in asking for not a lot of money, but you've also come in saying,
26:40yeah, I want a dragon to open sites for me.
26:42Yes.
26:43Now, talking about sites, there are opportunities that you yourself can approach directly with
26:51councils who want this sort of thing locally.
26:55Yeah.
26:56Who will even give you a grant to do this.
26:59Okay.
27:00You don't need an investment, you know, because I think an investor will give you a headache.
27:05So, for that reason, I wish you all, and Joe, all the best when I'm out.
27:12Andrew.
27:13Yeah.
27:13Did you watch the last season of The Dead?
27:15We did.
27:16Did you see Gemma, the crazy dog lady that came in with her edible greetings cards?
27:20Yes.
27:20That is a brilliant business, but the big thing is, she is wonderful.
27:25Yeah.
27:26And I think between hooking you in with Gemma, who has a lot of other crazy dog lady friends,
27:31and also I got an investment from a few years ago called Mini First Aid.
27:36They're a big franchise business.
27:38And again, I love working with that business.
27:40And I just think the knowledge I've got from there, I can help you, I can open a few doors,
27:44I'll enjoy working with you, and it just seems really fun.
27:48And I would love to make you an offer, Andrew.
27:51Thank you very much.
27:51I would genuinely love to.
27:52So, I'll absolutely give you what you're asking for.
27:55It's not worth my time to only have 5%.
27:58Yeah.
27:59I think, reasonably, I'd want about 25% of the business.
28:04Ooh, OK.
28:05See, Andrew, I told you, investors are vultures.
28:10Andrew, I think 25's a bit harsh.
28:15I think, though, this is where, this is all about contacts.
28:19And I think this is also about coverage.
28:21I think Sarah and I would be a great team on this.
28:25So, I would be willing to offer you half the money and share it with Sarah,
28:30to offer you 5,000, for maybe 10%, and we share 20% between us.
28:38And then you've got something, if Sarah would accept,
28:40we've got something quite special here.
28:42I was terrified he was going to trump us.
28:44So, I'm about to bite his hand off right there,
28:46because I was terrified he was going to sweep in and steal my deal.
28:50Yeah.
28:53It's a tough one.
28:55Joe didn't want to come in with me, because you're scary, apparently.
28:59We're not, yeah.
29:00I have to say, you're really not.
29:01You're very lovely.
29:03We talked about it beforehand, and we came to an agreement
29:06that initially we were asking for five.
29:09We said that we would go to ten.
29:11So, I'm just going to remind you of two things.
29:14Yeah.
29:14Right?
29:15I think we've ascertained that your motivation in all of this
29:19is you want to bring this to more people.
29:22Yeah.
29:23And with not one but two dragons on board,
29:26you'll parachute this monumentally.
29:29And then the other thing, again, with two dragons on board,
29:34yes, you only have 80% of the business,
29:36but you have 80% of a business,
29:38which is 10, 20, 30 times bigger
29:40than what you would get to on your own.
29:42Yeah, yeah.
29:42I would never go against my wife.
29:45I'm glad someone can answer that.
29:47My point of view.
29:48It makes a good point.
29:50I'm going to say I've been married twice.
29:52I don't want to do it again.
29:54So, thank you very much.
29:56And I'd love talking to you.
29:58We're going to have to say no.
29:59But thank you.
30:00Andrew, look, understand that.
30:03It's got to be the right decision for you.
30:05Absolutely.
30:05So, appreciate that.
30:06Thank you very much.
30:06Thanks.
30:09Sadly for Andrew,
30:10he must leave the den empty-handed.
30:13And his decision to stick to the equity ceiling
30:16he'd pre-agreed with his wife
30:18could yet result in the pet care entrepreneur
30:21ending up in the doghouse.
30:24Wow.
30:24I wonder what she says.
30:26Yeah.
30:26I think he was running a risk either way there, wasn't he?
30:29He was running the risk of whether or not he took it.
30:31And if he didn't take it,
30:32whether or not he's going to regret it later.
30:35I think for what I was asking,
30:3820% was probably a little bit too much.
30:40And Joe and I, we talked about it.
30:43We'd agreed.
30:44I think we'd be right doing that.
31:02Hi, I'm Paul Hernan.
31:04I live in Harrogate
31:05and I'm originally from Manchester.
31:07Come on, let's have it.
31:09My product is a space-saving solution for bathrooms.
31:14I don't like sinks too close to toilets.
31:17I know what you mean.
31:18Cleaning your teeth.
31:19We don't have toilets in our bathrooms
31:21because there are poo particles.
31:23What kind of blast radius are you doing with me?
31:28I don't want to talk about my blast radius.
31:31Thank you very much, Stephen.
31:33The Dragons might have some concerns
31:35about the proximity of sink and toilet,
31:38but there can be no poo-pooing Paul's enthusiasm for his product.
31:43I've been on this that long.
31:45I've been working it, breathing it, designing it,
31:47trying to get funding, et cetera, along the way.
31:50So it's a real passion of mine.
31:53I'm ready to face the Dragons.
31:55Bring it on.
32:02Hi, Dragons.
32:04My name's Paul and I'm here to present
32:06the Vertebrae Vertical Bathroom.
32:08I'm also here to ask for a £100,000 investment
32:12for a 10% stake in the business.
32:17Vertebrae is an all-in-one, compact, space-saving vertical bathroom.
32:23The four units comprise of a toilet, basin, storage unit, and a shower unit,
32:30and they simply rotate out for use.
32:34The six-foot by four-foot floor space required is 45% less than the current average UK domestic bathroom
32:43size.
32:44The initial investment is required to take the product from the pre-production prototype
32:49into manufacture and help launch both the business and the brand.
32:54Please allow me to give you a quick demonstration of the vertebrae.
33:02So we have the toilet unit, which all the units rotate 90 degrees.
33:07We have the basin unit, flush button for the system for your toilet,
33:12and the shower controls at the back.
33:15And then we have the overhead shower, which rotates round as well.
33:23Would any of the Dragons care to have a closer look?
33:26I think we'd probably all like one.
33:29An all-in-one bathroom unit designed with small spaces specifically in mind
33:34is the proposition from Paul Hernan.
33:37Debra made a good point about blast radius.
33:39She said, is that not a little bit too close to the sink if she's going to?
33:42I haven't encountered any problems.
33:44Saves time, doesn't it?
33:45Because you can poo and wash your hands straight away at the same time.
33:49Paul is seeking £100,000 in return for 10% of his business.
33:54Do they come in taller versions?
33:56We could do a taller version for the 0.1% sale.
34:01But he's quite right.
34:02It's probably not worth it, Peter.
34:04OK.
34:04Well, it's not for me, but thanks for coming.
34:08The den's tallest dragon might not be Paul's perfect customer,
34:13but Tuukka Suleiman wants to learn more about the CV
34:16of the inventor behind the space-saving WC.
34:24Oh!
34:25Hi.
34:26Hi.
34:28We've had a little semi-demonstration.
34:31And what I want to know is who you are and how did you get here?
34:36It's been a long journey.
34:40I started out, one of my early jobs was an architectural technician.
34:43But then later on, I went to do an industrial design degree at university.
34:49And as part of my major project, 23 years ago, I came up with that initial...
34:57Is that you there?
34:58Over there.
34:58That's me there.
34:59I've since worked then as a design engineer throughout my career.
35:03So I've self-funded this all them years, developing prototypes,
35:10failing, starting again, saving up my money.
35:13Burning cash.
35:15Starting again and repeat, rinse, repeat.
35:18Well, I don't know if you know, but I am involved in co-living.
35:24Okay.
35:25Co-living is where small space, 200 to 300 square feet.
35:31Yep.
35:31Looks like a hotel, very compact.
35:34Yeah.
35:34Myself and my partner, I mean, I've only done 200 units,
35:37but he's done about 1,000 of these.
35:39Right.
35:39And doing more.
35:40So it's very interesting.
35:41So what does that cost?
35:44It's round about the moment.
35:46It's four and a half.
35:47It's about 4,000 to four and a half,
35:49but that could quickly drop down to two and a half with volumes.
35:52Look, I like it.
35:54The only problem for me is you're a real startup here.
35:59So timing-wise, let's assume that you've got investment today.
36:04Mm-hmm.
36:05How would the timing be until you're ready to go to market?
36:10I'd say within the year.
36:13Right.
36:13Paul.
36:14Paul, hi.
36:14Hi, Deborah.
36:15Can we just focus on how much space it actually saves?
36:21Because I can only see that it will save half a toilet space,
36:26because you need a shower tray.
36:29Well, it's on a wet room floor.
36:31OK.
36:32So the only space it saves, then, is...
36:36Well, that's a six-foot by four-foot floor space.
36:39You could probably make it a little bit smaller,
36:41but the average UK bathroom is two metres by two metres.
36:45Yeah, but you're not talking about the average UK bathroom.
36:47And when I look at that...
36:51You've still got to have this width...
36:53Yes.
36:54..for the shower.
36:55Yes.
36:56You turn it back,
36:57you've still got to have the width to the front of the toilet
37:00for the shower,
37:01and in that space,
37:03I would have put a shower and a basin next door to it.
37:07Yes.
37:08So I'm saving half a toilet space,
37:11or actually, maybe I'm saving a small toilet cubicle,
37:15but that's tiny.
37:17Yes.
37:18There are these.
37:19Now, it's worth...
37:21Can I just say it's beautiful?
37:22And I love the design,
37:23and it's really clever.
37:25Yep.
37:25The problem is when you're doing big developments,
37:28you're comparing a cost of two and a half to...
37:31Well, you're saying four and a half at the moment
37:32with something that you can probably do
37:34when you're buying at scale for £500.
37:37I think it's your price versus space value
37:41that's going to be your single biggest problem.
37:44So I think there's an issue.
37:47So I applaud you on so many levels.
37:50You're clearly talented,
37:52but unfortunately,
37:52I don't see it's commercial application.
37:55So I'm afraid, you know what I'm about to say, Paul?
37:58I'm out.
37:59OK.
38:00Thank you, Debra.
38:03Paul.
38:04Hi, Sarah.
38:05Hi.
38:06Can I just say,
38:08that was one of the best pictures I've seen in the den.
38:13And I don't...
38:15Where Debra's concerned about the price,
38:16the price doesn't even worry me,
38:18because, yes,
38:19I think if you want to go for the lower end of the market
38:21where cost is an issue,
38:23you're not in this space.
38:24But these posh, fancy things that Tuka's building,
38:27apartments or whatever,
38:29he doesn't mind dropping a couple of grand
38:30to put one of these in
38:31because it looks so cool.
38:33However,
38:34the thing that you said for me
38:36that completely changed my feeling on it
38:39was that you've had this for 23 years.
38:43So my concern is
38:46you've been touting this around your industry
38:49for 23 years
38:52and no-one's copied you.
38:56Yeah.
38:57I wouldn't say I've touted it heavily,
38:59but it's been around there.
39:00But people must know about it.
39:02But I think it's the companies
39:03to go to this
39:04that have to do a major pivot
39:06they're already focused on.
39:07Yeah, but all companies
39:09are looking to stay ahead,
39:11to innovate,
39:12to be exciting,
39:13to bring out the next great thing.
39:15OK.
39:15And so clearly there is a reason
39:18why your market isn't embracing this.
39:20So I'm so sad because I love it,
39:23but I just can't invest it in.
39:25I'm sorry, Paul.
39:26I'm genuinely really sorry,
39:27but I won't have to say I'm out.
39:29OK.
39:29Thank you, Sarah.
39:33Paul, you just said to Sarah
39:35that you haven't been touting this
39:36around the industry
39:37for the last 23 years.
39:38And for me, that's a bigger concern.
39:41I've been focusing on the product,
39:42getting it right,
39:42but I believe the time is now.
39:44Do you know what's interesting
39:45is sometimes with inventors,
39:47perfectionism becomes an excuse
39:48for an inability to execute.
39:50Yeah.
39:50And I think actually the beauty
39:52that I see in the product
39:54is evidence of that.
39:56I think it is cool,
39:58but what I'm looking for
39:59as an investor in the den
40:00is I'm looking for cool ideas,
40:01but then I'm looking for an executor
40:03to bring that idea to market.
40:05And that's not what I've seen today.
40:06OK.
40:06So for that reason,
40:07I'm going to say that I'm out,
40:08but I commend you on what you've done.
40:09All right.
40:09Thank you very much, Stephen.
40:11Thanks, mate.
40:14It looked really, really good.
40:18Is there anything that's protectable here?
40:23There was a UK patent on it,
40:24but that's expired
40:25because I filed that over 20 years ago
40:28and that's expired.
40:29And it expired because you didn't
40:31put it into production or...?
40:32Well, a patent expires after that time,
40:35so I didn't renew it in the 20th year.
40:38Oh.
40:41Which was only two years ago,
40:42so it would have been...
40:44The patent would have expired anyway.
40:46But I have designed the registration...
40:48Would you get it if you renewed it?
40:50No.
40:50You can't renew a patent such.
40:53I do think you had a window
40:55of opportunity here with this.
40:57And that window of opportunity
40:58was when you had an existing patent
41:00on the product.
41:03But to try and turn this into a business now
41:06is going to be really tough.
41:07So for that reason, I'm out.
41:09OK. Thank you, Peter.
41:13Paul, um...
41:14Love it.
41:16And then...
41:18That's coming from here.
41:19Then when it gets to here,
41:21I say to myself,
41:22OK, you're going to need money
41:25to create the business.
41:28Then you're going to need, um...
41:31samples, trade shows.
41:34You need a million pounds for this
41:37to do it properly.
41:39Your only hope is you find a developer
41:42who's going to give you the money
41:44because he wants to buy a thousand.
41:46And unfortunately, I can't give you that order.
41:48OK.
41:49So for that reason, I'm out.
41:52However, what I will do
41:55is you could contact me
41:56and I'll put you in front of a few people.
41:59Excellent. Thank you.
42:01You know, who are buyers of this.
42:02Yeah.
42:03You know?
42:04Right.
42:05You never know where that might lead.
42:07OK. Brilliant, Zuka.
42:09Thank you very much.
42:10OK.
42:10Thanks, Paul.
42:11Thanks, Paul.
42:11Well done and inventing something really cool.
42:15Cheers.
42:15Thanks, Paul.
42:18Paul's pitch started promisingly,
42:21but sadly for the bathroom entrepreneur,
42:24he isn't leaving the den feeling flush.
42:27Not getting the investment
42:28is a bit of a choker, yeah.
42:30But at the same time,
42:31they really did like the products.
42:34Zuka's offered me a contact
42:36to get in front of
42:37to see how it could possibly
42:38be a potential fit for them.
42:40So there is also
42:42there a bit of light
42:42at the end of the tunnel.
42:44He's comfortable there, Zuka.
42:46He's on the throne.
42:47Zuka, we'll see you later, Zuka.
42:48Zuka, we'll see you later, Zuka, yeah.
42:49Oh, I see.
43:06Right.
43:07Here we are.
43:08We're Perkins.
43:09Oh, my God.
43:11I'm Susie.
43:12This is Yan.
43:13And we're both from London.
43:15I don't know what I'm feeling.
43:17I feel like I'm having
43:18an out-of-body experience.
43:20So we're business partners together
43:22and we met because our daughters
43:24went to the same nursery.
43:25Yeah, we do play day all the time
43:29to help on the child care.
43:32Chance may have initially brought
43:34the two friends together,
43:36but they forged the perfect partnership.
43:38We kind of do, yeah,
43:40compliment each other.
43:42Yanis has like this really like manifest
43:45and it shall happen.
43:47Go, young girl, young girl, young girl, young girl.
43:50I'm sometimes a bit glass half empty
43:52and like micro-analyzing everything.
43:57But weirdly, today, I am somehow not nervous.
44:00Good.
44:01That's a good sign.
44:02I'm ready.
44:03I'm ready.
44:03Bring it on.
44:16Hi, Dragons.
44:17I'm Susie.
44:18And I'm Yan.
44:19We're here to present
44:20Stock-Doc Bubble Tea.
44:22We are here to ask
44:23in 50,000 pounds
44:24for 5% of our business.
44:26We opened our independent
44:28bubble tea cafe
44:29in North London in 2020
44:31and we quickly realised
44:33there was a real gap in the market
44:34for a bubble tea in a bottle product
44:37that could exist beyond the cafe setting.
44:40For those of you
44:41that may not be familiar with bubble tea,
44:43it's a drink that originated from Taiwan.
44:45It's mostly a tea-based drink
44:47with different bubble-like toppings.
44:50Dot Dot Bubble Tea
44:51uses juice popping balls
44:52that pop in your mouth
44:54for a fun mouthfeel sensation.
44:56You can find a bubble tea cafe
44:58on many UK high street
45:00and there's a beverage alternative
45:02to coffee and tea.
45:03It has become so popular
45:05alongside the rise of East Asian cuisine
45:08in the UK.
45:09Therefore, we felt bubble tea
45:11was ready to take the next step
45:12to become a ready-to-drink,
45:14grab-and-go product
45:15that you could find
45:16on a supermarket shelf
45:18or a deli fridge.
45:19In the 2023 summer,
45:22we launched in Selfridges
45:24with great success.
45:26We gained immediate traction
45:27from distributions
45:29and retail partners,
45:30including the Royal Botanic
45:32Kew Garden
45:32and Haffir Nichols.
45:34In just under nine months,
45:36Dot Dot Bubble Teas
45:37has generated a revenue
45:39of £250,000
45:40with very little marketing
45:43and organic growth alone.
45:44So, maybe you'd like to pop
45:47your bubble tea cherry
45:49and have a try of our drinks.
45:52Mmm!
45:53A range of off-the-shelf bubble teas
45:56is the proposition
45:57from pals and business partners
46:00Yan Ying and Susie Lau.
46:02Thank you very much.
46:03We have our core range
46:05of the five different flavours.
46:08The duo are seeking £50,000.
46:11Including the Mango Passion Fruit,
46:14the Lychee and Rose
46:15and the Coffee Americano.
46:18In return for 5% of their business.
46:22Their product may or may not
46:24be everybody's cup of tea.
46:26Our bestseller is the Mango Passion Fruit,
46:28which I think is absolutely sensational.
46:30But will Susie and Yan
46:33be able to bag themselves a dragon?
46:36It's Stephen Bartlett to begin.
46:41Susie, Yan.
46:42In this business,
46:43what are your individual roles
46:45and also,
46:45what are your individual backgrounds?
46:48So, we both founded
46:50the business together in 2020.
46:53I come from a fashion journalism background.
46:56In fact, I am still
46:57a working fashion journalist.
47:01Yeah, and myself,
47:02I work in IT for over 20 years.
47:05So, I'm the operational person
47:08in terms of numbers and production.
47:10And Susie helping us on the marketing
47:12and generate sales lead.
47:15When you said you'd done
47:16£250,000 in nine months
47:18in terms of revenue,
47:19what was your gross margin on that?
47:21So, yeah.
47:22So, I turn over £250,000.
47:24Our gross is £125,000
47:26and the net is £38,000.
47:28And what is the big vision here
47:29for this product?
47:30Where do you want to get it?
47:32So, we want to be a UK-based
47:35leading tea brand in Europe.
47:38And how does a dragon
47:38help you achieve that,
47:39in your view?
47:40We've done very little marketing
47:43with bubble teas
47:45because it's just
47:46kind of sold itself
47:48just on the product alone.
47:49So, actually,
47:50we would really welcome
47:52the kind of marketing expertise
47:54from a dragon.
47:56And also,
47:57if we do take on
47:59a major supermarket retailer,
48:03it's how to scale
48:04that business up.
48:07Are you making those yourself?
48:09Are you manufacturing?
48:10So, we started
48:11with the manufacturer
48:12in Leicester
48:13who produced for us
48:15when we launched.
48:16And we recently
48:17have also set up
48:18the first ever
48:19bubble tea brewery
48:20in North London as well,
48:22where we wanted
48:23to have the capability
48:25to develop our drink
48:26and make sure
48:27that we can control
48:28the quality
48:28as we wanted as well.
48:30That's quite a big piece
48:31of information
48:31you've just divulged there.
48:33So, you have
48:33a bubble tea brewery?
48:35Yes.
48:35And what's your capacity
48:37and your...
48:37That's a great question.
48:39Currently, we...
48:40With the brewery,
48:41we can only produce
48:436,000 a week.
48:44But we have visited
48:46a company
48:47who create
48:48manufacturing machinery.
48:51So, with the automated
48:52machinery,
48:53we can produce
48:544,000 bottles per hour.
48:57And that's where
48:58we wanted to
48:59move into the scales.
49:02Congratulations.
49:03Congratulations.
49:04Oh, thank you.
49:05I think it's
49:06absolutely lovely.
49:06I think it's
49:07a great product.
49:08It tastes fantastic.
49:10It really does.
49:11Oh, thank you.
49:11I'm a big fan
49:12of bubble tea.
49:13I like it.
49:14Oh, yes.
49:14Wow.
49:15But I'm intrigued
49:16about both of you
49:18currently still doing
49:20jobs outside
49:20of this business.
49:21I'm not.
49:22I'm full-time.
49:23You're full-time.
49:24Mm-hmm.
49:24And then you're
49:25a fashion journalist.
49:26Who do you...
49:26Who's that for?
49:27So, I started off
49:29self-publishing.
49:30I had a fashion blog
49:32in my early 20s
49:33and then I moved
49:34to work for magazines.
49:36I currently do
49:37work full-time
49:38for a magazine.
49:39It's also worth
49:40to introduce
49:41that her Instagram
49:42name is called
49:43Susie Bubble
49:44with 800,000 followers.
49:46What?
49:47700,000.
49:48That's more than you.
49:49You've got
49:49700,000 followers?
49:51In fashion,
49:52she is very established.
49:54That's huge.
49:55I have...
49:56Well, I have
49:58a vague profile
49:59on Instagram
50:00and alongside
50:03my fashion writing work,
50:05I work with brands
50:06on paid partnerships.
50:09Well.
50:10Can you tell me
50:11about your online presence
50:12then in the business?
50:14You're very good
50:15at building a following,
50:16clearly,
50:16because you're famous.
50:18So...
50:19What about the brand?
50:20Dot Dot?
50:21How much...
50:21What size community
50:22has that got online?
50:24So, we have about
50:2510,000 followers?
50:28On Dot Dot the Cafe
50:28and then Dot Dot Tees,
50:30it's about 5,000,
50:32but we really
50:33haven't done
50:34a lot
50:35to grow
50:36those socials
50:37because
50:38I just don't have
50:40the bandwidth
50:40for it.
50:42Fulfilling the orders.
50:43We've actually
50:44just been busy
50:44trying to fulfill
50:45the orders.
50:46I was still packing yesterday.
50:50Guys, so...
50:51I like the product.
50:53I don't love
50:54the business
50:55because there's
50:56lots of people
50:57been doing bubble tea
50:57for a long time
50:59so I don't see
51:00that there's a massive
51:00barrier to entry.
51:01And then,
51:02with all due respect,
51:03Susie,
51:04you clearly know
51:04how to build a brand,
51:06how to capitalise
51:06on a personal brand,
51:08how to build
51:08an Instagram following,
51:09but you've done
51:10none of that
51:10for the business.
51:11And I kind of understand
51:12why you wouldn't
51:13have done that.
51:13So I think
51:14all those factors
51:15together
51:15just makes me think
51:17if you're onto
51:18something here,
51:20somebody else
51:20is going to come along
51:21and do it as well.
51:22And they will be able
51:23to make it take off
51:24much quicker.
51:25So, I'm sorry,
51:26I won't be investing.
51:27I'm out.
51:29Susie,
51:30how do you respond
51:30to such a vicious...
51:32Um,
51:33I would say
51:34in our defence
51:35we are both
51:36very stretched.
51:37You know,
51:37we're both
51:38working mums
51:39and we started off
51:41as friends
51:42and we kind of,
51:44it was a happy accident
51:45to go into business
51:46with each other.
51:47You had a full-time job
51:49up until very recently.
51:51I have always
51:52had a full-time job
51:53and different
51:55freelancing gigs
51:56alongside this.
51:59And, um,
52:00it's true
52:01what Sarah said.
52:03I can't give
52:04all of my time
52:06to it,
52:07but any way
52:08possible
52:10to help
52:11dot dot
52:11I will do
52:14for Jan.
52:15That's a beautiful thing.
52:17You want it more
52:18for your friend.
52:19Yeah, because she's
52:20worked really hard
52:21on it.
52:25Okay, that's...
52:26Yeah, we're...
52:26Sorry.
52:28She's, like,
52:29so amazing.
52:31And, like,
52:32the brand,
52:32how she's built
52:33everything,
52:34dot dot.
52:34The dots that you see
52:36on the packaging there,
52:37those are, like,
52:38stamped by her daughter's ear.
52:42I am more.
52:44Yeah, okay.
52:45Okay.
52:47Sorry.
52:47Thank you so much.
52:48I know...
52:48I know this is
52:50what you're doing for me,
52:51so I can only say thank you
52:52and work very hard
52:54to make it work.
52:56I think you both
52:57are incredible individuals.
53:00I think you've
53:01got the chance
53:02to have something
53:03quite special.
53:06And I am
53:07absolutely
53:08bloody brilliant
53:09at taking businesses
53:11like this
53:11and scaling them.
53:13So you've asked
53:14for £50,000
53:15for 5%.
53:17So I am going
53:18to make you this offer.
53:19I'm going to offer you
53:20all of the money
53:24for only 10%.
53:28That's how much
53:28I want to work with you.
53:29Thank you so much.
53:29Thank you so much.
53:35Suzie.
53:35Yeah?
53:36This category
53:37I'm really, really
53:38interested in
53:39because my girlfriend,
53:40she's been dragging me
53:41every weekend
53:42in London
53:42for bubble tea.
53:44And so
53:45I love the product.
53:47I think it's great.
53:50I really think
53:50it's great.
53:52So I'm going
53:53to make you
53:53an offer
53:54for the £50,000
53:55you've asked for
53:57for 10%.
53:59Okay.
54:02I really think
54:03you've got something here.
54:04I think you've really
54:06spotted
54:08something that has been
54:09and I'm not
54:10the pun master here
54:11but there's a business
54:12that's been bubbling
54:13away for a while
54:14and there's a lot
54:15of people jumping
54:16on board.
54:16Good pun.
54:17But actually,
54:18you know,
54:18putting this out there
54:19into people's hands
54:20that they can actually
54:21grab and go
54:21I think is really good.
54:23So I'm going
54:24to make you an offer.
54:25I'm not going
54:26to make it easy
54:27for you
54:27because I'm going
54:28to make you
54:28the same offer
54:29as the other guys made.
54:30So I am going
54:31to offer you
54:32£50,000
54:34for 10%
54:35of the business.
54:37Okay.
54:39Thank you so much.
54:41So guys,
54:43you've probably
54:44done your homework
54:45on all that
54:45dragons
54:46before you came here.
54:48and we could all
54:49do great things.
54:51However,
54:52this business
54:53is going to need
54:54more money
54:55than £50,000
54:56because you need
54:58to really,
54:59really market this
55:01in a big way
55:03to be recognised.
55:04So my offer
55:06is conditional.
55:09I'm going to offer
55:10you £50,000
55:11for 10%
55:11but I want another
55:13dragon to join me
55:14at £50,000
55:15for 10%
55:16so you're going
55:17to raise £100,000
55:18today
55:20to give away
55:2120%.
55:22Right?
55:23So you're going
55:24to double
55:24the amount
55:25of money
55:26you get in.
55:27You're going
55:27to double
55:28the strength
55:29of the dragon.
55:31Susie,
55:32I think you go
55:32have a chat about it
55:33and let us know
55:34how you feel
55:34about it.
55:39Susie and Jan
55:40have four bids
55:41to consider
55:42with Tuukka
55:43Suleiman proposing
55:44a joint deal
55:44of £100,000
55:46in return
55:47for 20%.
55:48I don't want
55:49to give away
55:5020%.
55:52While Peter
55:53Jones,
55:54Stephen Bartlett
55:55and Deborah
55:56Meaden
55:57are all offering
55:58£50,000
55:59in return
56:00for 10%,
56:01double the equity
56:02originally on offer.
56:03Right.
56:04OK.
56:12So, we would
56:15like to ask
56:19if Stephen
56:21and Peter
56:23could invest
56:26with £25,000
56:27each
56:28for a combined
56:2910%.
56:32I'd be very
56:33happy to do
56:34that.
56:37I'd do that
56:37too.
56:39So, in that case,
56:40we've got to do.
56:41Yay!
56:44Thank you so much.
56:46I'm so, so happy.
56:47I'm so, so happy.
56:49Success for Susie
56:50and Jan.
56:53The firm
56:54friends and
56:54business partners
56:55depart the den
56:57with £50,000.
56:59Ah!
57:00Ha-ha!
57:03Oh!
57:05Oh, goody!
57:07Leaving their
57:07new dragon
57:08investors
57:09to toast the deal
57:10with some
57:11celebratory bubbles.
57:13Dot, dot,
57:13cheers.
57:14Cheers.
57:15Dot, dot, dot,
57:16it's all good.
57:17It's all good.
57:18That happened.
57:18I feel a bit
57:20broken,
57:20to be honest.
57:21It was just
57:23such a
57:25rollercoaster.
57:26But I'm very glad
57:27that we have
57:27two dragons
57:28on board.
57:29And hopefully
57:30they can take
57:31Dot, dot
57:32to this new
57:33strategy.
57:34Yay!
57:35Ah!
57:38Wow.
57:44Next time,
57:45the dragons
57:46have a special
57:46guest.
57:47Welcome to the
57:48den.
57:49Lovely to have you.
57:49I'm so excited
57:51to be here
57:51with you.
57:51You're pretty
57:52much dressed
57:52like that table.
57:53I am not dressed
57:54like that table.
57:55Oh, I'm so sorry.
57:56Stop bloody
57:58apologising, darling.
57:59Okay.
57:59What's my future?
58:00What does my future
58:01look like?
58:01Oof.
58:02We need a life raft.
58:04Okay, you won't be
58:05surprised to hear,
58:05when are we going to
58:06make any money?
58:07I do not know
58:08the answer to that.
58:09In your case,
58:10it was like,
58:10spend, spend, spend.
58:12Trinia, doesn't look
58:13like you agree with
58:14that?
58:14Ah, no.