0:00:02 > 0:00:04Imagine a year's worth of pocket money up for grabs,
0:00:04 > 0:00:07just waiting for kids like you from across the UK to come up
0:00:07 > 0:00:09with a winning business pitch.
0:00:09 > 0:00:12- I'm from Wallasey.- I'm from North Shields.- I'm from Stockport.
0:00:12 > 0:00:15Could you spot a gap in the market?
0:00:15 > 0:00:19If you wanted that kind of dress, you could press on that dress
0:00:19 > 0:00:21and it would show up on the mannequin there.
0:00:21 > 0:00:23What's your big idea?
0:00:23 > 0:00:26- Our business idea is... - Specially-made waffles.
0:00:26 > 0:00:29Or are you the next Branson, Sugar or Dyson?
0:00:29 > 0:00:31Our product idea is Tensor Sensor.
0:00:31 > 0:00:35They're headphones that sense when they're on the ear.
0:00:35 > 0:00:39Now, budding entrepreneurs are entering the pocket money pitch-off.
0:00:39 > 0:00:42All are hoping to secure that valuable pot of cash
0:00:42 > 0:00:45and the priceless help of our top industry gurus
0:00:45 > 0:00:48to kick-start their businesses.
0:00:48 > 0:00:52They will have just one chance to call for help.
0:00:52 > 0:00:56And this is it - the Pause My Pitch Button.
0:00:56 > 0:01:01One guru to impress, only one idea can come out on top -
0:01:01 > 0:01:04this is Pocket Money Pitch!
0:01:12 > 0:01:15Pocket Money Pitchers, it's time to go head-to-head.
0:01:17 > 0:01:19Present your pitch.
0:01:19 > 0:01:21- The pitcher...- ..I've chosen... - ..is...
0:01:33 > 0:01:36We have searched the whole of the UK to find
0:01:36 > 0:01:38the best young business talent.
0:01:40 > 0:01:43Every week, six businesses battle it out.
0:01:43 > 0:01:45Today, they are hoping to be the next big thing
0:01:45 > 0:01:48in fashion and accessories.
0:01:48 > 0:01:50It's a huge industry, with the UK market
0:01:50 > 0:01:54for children's wear alone coming to £6 billion.
0:01:58 > 0:02:01Only three will get the chance to pitch in the vault
0:02:01 > 0:02:03to today's guru, Myleene Klass.
0:02:04 > 0:02:08Myleene's famous for being a pop star, model and TV presenter.
0:02:08 > 0:02:10But she's made millions in business through her
0:02:10 > 0:02:13clothing ranges, sold in some of the UK's biggest stores.
0:02:14 > 0:02:17Our pitchers can improve their chances of
0:02:17 > 0:02:19impressing Myleene by winning
0:02:19 > 0:02:21the support of a business buddy.
0:02:21 > 0:02:22All of them have
0:02:22 > 0:02:24built their own successful companies
0:02:24 > 0:02:26and will scrutinise every idea
0:02:26 > 0:02:28to try and spot a winner.
0:02:30 > 0:02:33All of our buddies are now sitting comfortably. Hey, buddies.
0:02:33 > 0:02:34- BUDDIES:- Hi.
0:02:34 > 0:02:37But it is not about you, it is about our pitchers,
0:02:37 > 0:02:38and it's time to meet them.
0:02:40 > 0:02:42First up, a nine-year-old from London.
0:02:42 > 0:02:44It's Jack with his backpack.
0:02:46 > 0:02:49The reason I will be good as a business guy is
0:02:49 > 0:02:52because I am trustworthy, I know how to handle my money,
0:02:52 > 0:02:55and, best of all, I have friends who are willing to help.
0:02:57 > 0:03:00He'll be up against ten-year-old Alex from Chichester,
0:03:00 > 0:03:04who wants to make bags printed with personalised designs.
0:03:04 > 0:03:08I am good at business because I can make YOU think my ideas are great.
0:03:14 > 0:03:17Both businesses are pitching to the buddies,
0:03:17 > 0:03:21but only one idea can go through to the next stage.
0:03:21 > 0:03:24Going first, it's JM Travel Tech Enterprises,
0:03:24 > 0:03:26otherwise known as Jack.
0:03:27 > 0:03:31Hi. I am Jack, and today I'm here to talk about ITHIO,
0:03:31 > 0:03:32The most affordable,
0:03:32 > 0:03:36versatile travel rucksack soon to be on the market.
0:03:36 > 0:03:38What are ITHIO's special features?
0:03:38 > 0:03:42Well, a tracker so you never lose your child,
0:03:42 > 0:03:44your belongings or ITHIO.
0:03:44 > 0:03:49A charger, so your devices never lose their charge.
0:03:49 > 0:03:51An LED light,
0:03:51 > 0:03:54so you never have to fumble around in the dark ever again.
0:03:54 > 0:03:57ITHIO is the future.
0:03:57 > 0:04:01A confident start there from Jack with his gadget-filled backpack,
0:04:01 > 0:04:05but Alex now has the chance to wow the buddies with his unique designs.
0:04:07 > 0:04:11Cabana Backpacks are backpacks for children, so...
0:04:11 > 0:04:14in primary and high school.
0:04:14 > 0:04:20So it is basically for children who have clothing restrictions,
0:04:20 > 0:04:24have to wear a boring uniform - Cabana Backpacks are for children
0:04:24 > 0:04:26so they can express their self.
0:04:26 > 0:04:30If you like cats, we would put this picture on,
0:04:30 > 0:04:32which is one of my cats.
0:04:32 > 0:04:34And you would wear it to school and they could say,
0:04:34 > 0:04:38"This is who I am and this is what I like and this is what I want to do."
0:04:41 > 0:04:46So Alex's bespoke rucksacks or Jack's hi-tech travel bag -
0:04:46 > 0:04:47the buddies decide.
0:04:47 > 0:04:50Personal branding expert Bianca is up first.
0:04:52 > 0:04:54Alex, I think your pitch was very good.
0:04:54 > 0:04:56I think you really need to make it more clear
0:04:56 > 0:04:58about the customisation options,
0:04:58 > 0:05:01because I think that is what is really interesting about your brand.
0:05:01 > 0:05:05So, unfortunately, I am going to go with JM Travel Tech Enterprises.
0:05:07 > 0:05:11Look at Jack, he can't contain his excitement getting the first vote.
0:05:11 > 0:05:13Online business expert Suleman is up next.
0:05:14 > 0:05:19I'm going to go with... JM Travel Tech Enterprises.
0:05:19 > 0:05:24So, you need one more vote now to go through to the next stage.
0:05:24 > 0:05:28There are still three buddies left, so all is not lost for you, Alex,
0:05:28 > 0:05:32because if those three buddies vote for you, then you are going through.
0:05:32 > 0:05:35'Ben's up next. He's a super-successful teenager
0:05:35 > 0:05:38'who runs his own digital media agency.'
0:05:38 > 0:05:41My vote goes to JM Travel Tech Enterprises.
0:05:41 > 0:05:42'He is over the moon!
0:05:42 > 0:05:46'A third vote means jack is going through to the next stage.
0:05:46 > 0:05:49'But, two buddies left, what were their votes going to be?
0:05:49 > 0:05:52'First, product designer Emma-Jayne.'
0:05:53 > 0:05:55I think they are both fantastic ideas and both great products,
0:05:55 > 0:05:59and my vote would be going with JM Travel Tech Enterprises.
0:05:59 > 0:06:02'And finally, top chef Luke.'
0:06:02 > 0:06:06Great ideas, guys, but for me, it is JM Tech Travel, as well.
0:06:07 > 0:06:09'It's a clean sweep for Jack,
0:06:09 > 0:06:12'but that's not putting Alex off his business dream.'
0:06:12 > 0:06:14I don't really mind if I didn't make it,
0:06:14 > 0:06:17because I know I'm still going to go with my idea.
0:06:17 > 0:06:21'That's the spirit. So, Jack is now in control.
0:06:21 > 0:06:24'All five buddies voted for his idea,
0:06:24 > 0:06:25'so who will he choose?
0:06:25 > 0:06:28'Emma-Jayne, who made her name designing
0:06:28 > 0:06:30'her own range of umbrellas?
0:06:30 > 0:06:35'Luke, Britain's youngest ever head chef whose company has gone global?
0:06:35 > 0:06:40'Bianca, who helps people present themselves successfully in business?
0:06:40 > 0:06:44'Suleman, who made a fortune from his online companies?
0:06:44 > 0:06:46'Or digital media entrepreneur Ben?
0:06:46 > 0:06:50'Jack now has to decide who he wants.'
0:06:50 > 0:06:51Do you want to ask them
0:06:51 > 0:06:53a question to get an idea of who you want?
0:06:53 > 0:06:56- No, thanks, I know who I want already.- You know who you want?- Yes.
0:06:56 > 0:06:58Loving your decisiveness. Right, who do you want?
0:06:58 > 0:06:59I pick Luke.
0:07:01 > 0:07:05'Without hesitation, Jack picks Luke to help prepare his pitch
0:07:05 > 0:07:07'and be his lifeline when he faces the guru.'
0:07:07 > 0:07:08- See you then.- See you!
0:07:12 > 0:07:15Two jewellery companies are going head-to-head next.
0:07:15 > 0:07:19First up, 12-year-old twins Gianna and Shani from Birmingham.
0:07:19 > 0:07:22- I'm the creative one. - And I'm the business one.
0:07:22 > 0:07:24But together, we are unstoppable.
0:07:24 > 0:07:27They'll be followed by a nine-year-old entrepreneur
0:07:27 > 0:07:30from Coventry who wants to make personalised lockets.
0:07:30 > 0:07:32Hello, I'm Eva.
0:07:32 > 0:07:33SHE LAUGHS
0:07:35 > 0:07:39Our new buddy is Amber, who runs an online jewellery business.
0:07:39 > 0:07:43Pocket Money Pitchers, it's time to go head-to-head.
0:07:43 > 0:07:44Ladies, take it away.
0:07:44 > 0:07:46Beads, Jewels and Geodes is a high-fashion
0:07:46 > 0:07:48handmade jewellery business.
0:07:48 > 0:07:51We make beautiful jewellery aimed at 11- to 17-year-olds.
0:07:51 > 0:07:53We aim to bring youth and fashion to the jewellery market.
0:07:53 > 0:07:56What makes our business different is that we will be able to
0:07:56 > 0:07:58identify with our customers.
0:07:58 > 0:08:00We will make sure our jewellery is kept up-to-date
0:08:00 > 0:08:02and our customers like what they see.
0:08:02 > 0:08:05Thank you for listening to Beads, Jewels and Geodes.
0:08:07 > 0:08:10'Gianna and Shani's jewellery promises to keep on trend.
0:08:10 > 0:08:14'Can Eva's designs offer something fresh and original?'
0:08:16 > 0:08:18My business is called Evangeline Jewellery Design.
0:08:18 > 0:08:21I design and sell jewellery at pocket-money prices
0:08:21 > 0:08:22for children and adults.
0:08:22 > 0:08:25I decided to earn some money because I really wanted the trampoline,
0:08:25 > 0:08:27so my dad said...
0:08:27 > 0:08:29- GRUFF VOICE: - "If you want something,
0:08:29 > 0:08:31"earn some money and I'll match what you earn."
0:08:31 > 0:08:35- LAUGHING:- Most of my design ideas come from being around kids,
0:08:35 > 0:08:38and being a kid myself, I know what children want.
0:08:38 > 0:08:41Thank you for your time and this fantastic opportunity.
0:08:41 > 0:08:43'Well, I'm glad Eva's dad
0:08:43 > 0:08:46'is backing her idea, but will the buddies?
0:08:46 > 0:08:49'Or will they vote for Gianna and Shani's company?
0:08:49 > 0:08:51'Suleman is up first.'
0:08:51 > 0:08:54On this occasion, I'm going to go with Beads, Jewels and Geodes.
0:08:56 > 0:09:00- Ben.- My vote is going to go for Evangeline Jewellery Designs.
0:09:00 > 0:09:03Ooh, one vote each, it could still go either way.
0:09:03 > 0:09:07How will accessory designer Emma-Jayne's vote sway things?
0:09:07 > 0:09:11My vote will be going with Evangeline Jewellery Design.
0:09:12 > 0:09:15Eva needs just one more buddy to vote for her.
0:09:16 > 0:09:20And next is our expert in the field, jewellery designer Amber.
0:09:21 > 0:09:23Such a difficult decision.
0:09:25 > 0:09:28On this occasion, I'm going to be voting for...
0:09:30 > 0:09:32..Evangeline Jewellery Designs.
0:09:34 > 0:09:35Evangeline Jewellery Designs,
0:09:35 > 0:09:38you are going through to the next round, well done.
0:09:38 > 0:09:41'Amber's expert eye casts the deciding vote,
0:09:41 > 0:09:43'but who did Bianca want?'
0:09:43 > 0:09:45I thought you both did an amazing job,
0:09:45 > 0:09:48I am going to go with Evangeline Jewellery Design.
0:09:48 > 0:09:50'Another vote for Eva,
0:09:50 > 0:09:54'and, sadly, it's time to say goodbye to Gianna and Shani.
0:09:54 > 0:09:56'But they're not giving up that easily.'
0:09:56 > 0:09:58Even though we didn't get through,
0:09:58 > 0:10:00we're going to carry on with our business.
0:10:01 > 0:10:05'Eva now needs to choose a buddy from the ones that backed her,
0:10:05 > 0:10:08'so it's up to them to prove why they should be picked.'
0:10:08 > 0:10:11How could you help me with how much I could sell
0:10:11 > 0:10:13my bracelets and lockets for?
0:10:13 > 0:10:16From a costing prospective, obviously we can talk about margins,
0:10:16 > 0:10:21wholesale, retail, but obviously, Amber is the jewellery woman.
0:10:21 > 0:10:23'Well, it's not often you see that in business.
0:10:23 > 0:10:25'They really are buddies, aren't they?
0:10:25 > 0:10:27'Amber is dead chuffed.'
0:10:27 > 0:10:30I have been in the jewellery industry for almost ten years
0:10:30 > 0:10:35now, so I really think I can add a lot of value to your business, so...
0:10:35 > 0:10:37choose me.
0:10:39 > 0:10:42A compelling case from Amber - is it enough to sway Eva?
0:10:45 > 0:10:48I think it is going to have to be Amber.
0:10:48 > 0:10:51There you go! Amber, she kept you waiting, though.
0:10:51 > 0:10:53I know, that was tense. Phew!
0:10:53 > 0:10:56Amber is now going to be your buddy, so she is going to help
0:10:56 > 0:10:59advise you when you go and see the guru later on. Sound good?
0:10:59 > 0:11:01Brilliant, I will see you later.
0:11:04 > 0:11:09Next to meet the Buddies is 13-year-old Zainab from Essex.
0:11:09 > 0:11:13She hopes to reach dizzy heights with clothes for tall teenagers.
0:11:13 > 0:11:16Being tall has inspired my business, because, as a tall person,
0:11:16 > 0:11:20I find it quite difficult to find clothes that fit me.
0:11:20 > 0:11:22She's against 13-year-old Nicola from Surrey,
0:11:22 > 0:11:27who thinks her upcycled designs will have this head-to-head sewn up.
0:11:27 > 0:11:31My great-grandad is my inspiration, because in the 1930s,
0:11:31 > 0:11:33he started and ran a huge department store.
0:11:35 > 0:11:39With Amber gone, we've got a new buddy - product designer Emily.
0:11:39 > 0:11:41First up, it's Zainab.
0:11:42 > 0:11:44My business idea is called Young.
0:11:44 > 0:11:48Young is a clothing line for 12- to 16-year-old females.
0:11:48 > 0:11:50As you can see, I am quite tall, meaning
0:11:50 > 0:11:54I find it quite difficult to find clothes that fit me lengthwise,
0:11:54 > 0:11:56and I thought this was a gap in the market
0:11:56 > 0:11:58that I could quite easily fill.
0:11:58 > 0:12:00I would make sure I had my own website,
0:12:00 > 0:12:04advertise on web pages and make adverts on TV.
0:12:04 > 0:12:07I would make sure the adverts are eye-catching
0:12:07 > 0:12:12to young, tall females, as they are my target market.
0:12:12 > 0:12:16In the near future, I hope to go international.
0:12:16 > 0:12:18Thank you for listening.
0:12:18 > 0:12:20Thanks, Zainab. Great pitch. Nicola, you are next.
0:12:20 > 0:12:22Give us the pitch for The Sewing Cycle.
0:12:24 > 0:12:28My business is called The Sewing Cycle and I upcycle clothes.
0:12:28 > 0:12:31My business plan is to sell items that I have upcycled at shops,
0:12:31 > 0:12:33craft fairs and on the internet.
0:12:33 > 0:12:38Like these fabric-covered notebooks made from old trousers.
0:12:38 > 0:12:41My business is unique because it helps to eliminate waste.
0:12:41 > 0:12:44Instead of throwing away old clothes, I can inject new life
0:12:44 > 0:12:47into them and therefore save a lot of people a lot of money.
0:12:47 > 0:12:50'So who will be in fashion with the buddies -
0:12:50 > 0:12:55'Nicola's upcycled items or Zainab's clothing range for tall teenagers?
0:12:55 > 0:12:58'The voting starts with designer Emma-Jayne.'
0:12:58 > 0:13:02This was a tough one for me - I thoroughly enjoyed both pitches.
0:13:02 > 0:13:05This time around, I will be going for The Sewing Cycle.
0:13:07 > 0:13:11- Emily.- My vote goes for The Sewing Cycle. I think the market is bigger.
0:13:12 > 0:13:15'So the Sewing Cycle takes an early lead.
0:13:15 > 0:13:17'If Bianca votes the same way,
0:13:17 > 0:13:19'Nicola goes through to meet the guru.'
0:13:21 > 0:13:23I really am interested in sustainability,
0:13:23 > 0:13:26so I am going to go for The Sewing Cycle.
0:13:27 > 0:13:32'Nicola's eco-friendly idea earns her the vote she needs,
0:13:32 > 0:13:34'but who would Suleman and Ben have chosen?'
0:13:36 > 0:13:39Zainab, I loved your passion, but I just feel, Nicola,
0:13:39 > 0:13:42the market that you have got is a little bit bigger.
0:13:42 > 0:13:43Ben.
0:13:43 > 0:13:46My vote goes for The Sewing Cycle, because from a tech
0:13:46 > 0:13:49and marketing background, I think I can help you the most.
0:13:49 > 0:13:53'It's time to say goodbye to Zainab, who leaves with her head held high.'
0:13:53 > 0:13:55I am pleased with how my pitch went,
0:13:55 > 0:13:57because I remembered all my facts
0:13:57 > 0:13:59and all the things I needed to remember.
0:14:01 > 0:14:04'So Nicola's got the choice of all five buddies,
0:14:04 > 0:14:06'who each have something different to offer.
0:14:06 > 0:14:08'It's a crucial decision,
0:14:08 > 0:14:10'because the buddy Nicola picks will be on her team
0:14:10 > 0:14:12'when she pitches to the guru.'
0:14:14 > 0:14:16I would like to work with...
0:14:16 > 0:14:19- Emma-Jayne.- Emma-Jayne, there you go.
0:14:19 > 0:14:22So Emma-Jayne is going to be your buddy, she is going to advise you.
0:14:22 > 0:14:24Good luck with your prep, Nicola,
0:14:24 > 0:14:26and I will see you in the vault in a bit.
0:14:26 > 0:14:28So six have become three.
0:14:28 > 0:14:32JM Travel Tech Enterprises, Evangeline Jewellery Designs
0:14:32 > 0:14:34and The Sewing Cycle -
0:14:34 > 0:14:37they will now go and prepare with their buddies,
0:14:37 > 0:14:40ready to go into the vault to meet today's guru, Myleene.
0:14:46 > 0:14:50Myleene has launched hugely successful clothing ranges.
0:14:50 > 0:14:55Her company recently made £2.1 million profit in just 12 months.
0:14:55 > 0:14:57But how did she do it?
0:14:57 > 0:15:00I would say the key to success is actually very simple -
0:15:00 > 0:15:01it is hard work.
0:15:01 > 0:15:04Only one business will win time with guru Myleene
0:15:04 > 0:15:07and get a year's worth of pocket money.
0:15:07 > 0:15:10That's £322.40 to invest in their business.
0:15:10 > 0:15:12So what is she looking for?
0:15:12 > 0:15:15I think the fashion industry is a very tough industry.
0:15:15 > 0:15:19There are so many competitors all vying for that tiny little space.
0:15:19 > 0:15:21I am looking for a business that has got originality.
0:15:21 > 0:15:25If it is simple, if you can make it very, very clear,
0:15:25 > 0:15:27then you're laughing.
0:15:27 > 0:15:31When it comes to numbers, I do expect a basic understanding,
0:15:31 > 0:15:34there is no doubt about it, but, ultimately, I think it is
0:15:34 > 0:15:36the idea that is key.
0:15:36 > 0:15:39- Hi, Eva.- Hello. - So it's time to get to work.
0:15:39 > 0:15:41- How are you feeling?- Excited.
0:15:41 > 0:15:43The young entrepreneurs will need to draw on all
0:15:43 > 0:15:47the experience of their business buddies to pitch to the guru.
0:15:47 > 0:15:49In order for us to grow your business, you're going
0:15:49 > 0:15:51to want to create a Sewing Cycle network.
0:15:51 > 0:15:53Other people could, like, do the sewing,
0:15:53 > 0:15:55so it can kind of be mass-produced a bit more.
0:15:55 > 0:15:58So we need to try and find out how we're going to create a network
0:15:58 > 0:16:00and get those people on board.
0:16:00 > 0:16:04Amber is helping Eva to make sure her business can make a profit.
0:16:04 > 0:16:06Profit margin...
0:16:06 > 0:16:09and the cost of the stock.
0:16:09 > 0:16:13On average, they cost around £2.48.
0:16:13 > 0:16:17I sell those for, like, £5 or £6, so I get almost double.
0:16:17 > 0:16:18Really good.
0:16:18 > 0:16:21And Luke is getting Jack's numbers right.
0:16:21 > 0:16:23There is gross profit and net profit.
0:16:23 > 0:16:28- Gross profit is what you would get out of the whole thing.- And then...
0:16:28 > 0:16:32And net profit is what you would get after you have added up everything.
0:16:32 > 0:16:34After all of your costs, yeah, exactly.
0:16:36 > 0:16:40Now, while the Pocket Money Pitchers get ready, the vault is
0:16:40 > 0:16:45preparing for the final showdown - the mission to win over the gurus.
0:16:45 > 0:16:49But, if at any point the pitchers get stuck, they can press this,
0:16:49 > 0:16:53the Pause My Pitch Button, and the guru will be locked away
0:16:53 > 0:16:56and the buddy will be able to run on and help them.
0:16:56 > 0:16:59But they need to choose their time wisely with this,
0:16:59 > 0:17:02because they can only Pause My Pitch once.
0:17:08 > 0:17:12Guru Myleene wants the Pocket Money Pitchers to have a simple
0:17:12 > 0:17:15but original idea that can make a profit.
0:17:15 > 0:17:19First, it is Jack, with buddy Luke watching backstage ready to help.
0:17:19 > 0:17:23Good luck. All that is left to say is present your pitch.
0:17:23 > 0:17:25Thank you.
0:17:25 > 0:17:29Hi, I'm Jack, and today I'm here to talk about ITHIO, the most
0:17:29 > 0:17:33affordable, versatile travel rucksack soon to be on the market.
0:17:33 > 0:17:39So, what are the features? Well, number one - a Bluetooth tracker.
0:17:39 > 0:17:41Number two - a checklist.
0:17:41 > 0:17:46Number three - a strap on the front. Number four - a charger.
0:17:46 > 0:17:51Number five - a bladder, so you never get too thirsty.
0:17:51 > 0:17:57Number six - a torch with a whistle on it. Number seven - LED lights.
0:17:57 > 0:18:01The RRP of each ITHIO unit will be £70,
0:18:01 > 0:18:04with a manufacturing cost of £28.32.
0:18:04 > 0:18:08To sum up, every parent's obsession is making sure
0:18:08 > 0:18:10they don't lose their kids.
0:18:10 > 0:18:12Every kid's obsession is making sure
0:18:12 > 0:18:15they don't lose their stuff or their devices' charge.
0:18:15 > 0:18:16Thank you for listening to my pitch,
0:18:16 > 0:18:20and if you would like to have a look at my prototype, please be my guest.
0:18:22 > 0:18:24A polished pitch from Jack.
0:18:24 > 0:18:27Now Myleene has the opportunity to delve a bit deeper.
0:18:27 > 0:18:30Where did the name come from, if you don't mind me asking?
0:18:30 > 0:18:33One day I was looking up the Welsh word for travel.
0:18:33 > 0:18:36It just happened to be "teithio".
0:18:36 > 0:18:41So I took away the T and the E and ITHIO was born.
0:18:41 > 0:18:43Is this all going to be done in-house with your factory?
0:18:43 > 0:18:46Once I get enough money, I will do a joint venture with
0:18:46 > 0:18:48another manufacturing company and we will
0:18:48 > 0:18:49split the profit equally.
0:18:49 > 0:18:53- You don't seem to be too shy of splitting your profits.- Not too shy.
0:18:55 > 0:18:59Good man. Will they be packaged, will they be wrapped in plastic?
0:18:59 > 0:19:03- They will be wrapped in plastic. - At what additional cost?
0:19:03 > 0:19:05It can't be that expensive.
0:19:05 > 0:19:06Are you sure about that?
0:19:08 > 0:19:10I think Jack's stuck.
0:19:11 > 0:19:14He has paused his pitch, locking away the guru.
0:19:14 > 0:19:16Time for some wise words from Luke.
0:19:18 > 0:19:20Yeah, the question was about packaging -
0:19:20 > 0:19:22I am not sure how much it would cost.
0:19:22 > 0:19:24You could be completely honest and say,
0:19:24 > 0:19:26"We haven't researched exactly what the packaging costs
0:19:26 > 0:19:29"would be", but say that the margins are quite big
0:19:29 > 0:19:32on your product, so there is enough room for flexibility at the moment.
0:19:32 > 0:19:35- OK.- You're doing a great job, good luck.- Thanks.
0:19:43 > 0:19:46We haven't factored in any costs for packaging yet,
0:19:46 > 0:19:51although the margins are fairly high and I am quite flexible on it.
0:19:51 > 0:19:54Right, I think that is all the questions I have got,
0:19:54 > 0:19:57- thank you very much for your pitch, Jack.- Thank you.
0:19:57 > 0:20:00Jack has done all he can.
0:20:06 > 0:20:11Next to face our business guru is Evangeline Jewellery Designs.
0:20:13 > 0:20:16Hello. My business is called Evangeline Jewellery Designs.
0:20:16 > 0:20:19I design and sell jewellery at pocket-money prices for children
0:20:19 > 0:20:22and adults. I create popular-film-inspired key rings,
0:20:22 > 0:20:24name bracelets, trendy phrase bag charms
0:20:24 > 0:20:28and lockets that really capture your true personality.
0:20:32 > 0:20:35Adults love to buy my designs, too, because they are fashionable
0:20:35 > 0:20:36and only a few pounds, and my mum says...
0:20:36 > 0:20:39- IMPERSONATING HER MOTHER: - "It also makes them feel good
0:20:39 > 0:20:42"supporting a young entrepreneur."
0:20:42 > 0:20:44I have sold over 500 items of jewellery,
0:20:44 > 0:20:45ranging between £1 and £5.
0:20:45 > 0:20:48Thank you for your time and this fantastic opportunity.
0:20:48 > 0:20:50I am happy to answer any questions you have.
0:20:52 > 0:20:54The hard part is over for Eva,
0:20:54 > 0:20:57but has she proved her business is unique?
0:20:57 > 0:20:58Can I have a look?
0:20:58 > 0:21:01They are far too far away from me, I would love to see.
0:21:01 > 0:21:03I can see you are wearing them - good girl,
0:21:03 > 0:21:06- you should always endorse your own brands.- I made you one.
0:21:06 > 0:21:09Oh, you are kidding! Thank you so much!
0:21:09 > 0:21:12- Can I open this?- Yeah.
0:21:12 > 0:21:17- Is this the packaging it will come in?- Yeah.- Oh, look at this.
0:21:17 > 0:21:19Thank you very much, Evangeline.
0:21:20 > 0:21:23Where are you going to get all of these fabulous beads?
0:21:23 > 0:21:27Well, most of my charms come from China, although they do take
0:21:27 > 0:21:30a long time to come, they are much, much cheaper
0:21:30 > 0:21:31than buying them from here.
0:21:31 > 0:21:33Each charm costs, I think
0:21:33 > 0:21:36I worked out, the average was around 5p per charm.
0:21:36 > 0:21:415p per charm, so each bracelet that you make is approximately how much?
0:21:41 > 0:21:46These lockets are £2.50 for me to make, but I sell them at £5
0:21:46 > 0:21:49or £6, depending on how many charms and crystals you put in.
0:21:49 > 0:21:52OK, thank you very much, those are all of the questions
0:21:52 > 0:21:54- I have got for now. - Thank you.
0:21:56 > 0:21:59Eva leaves the vault with a spring in her step.
0:22:03 > 0:22:07'The last business to face the guru is The Sewing Cycle.'
0:22:07 > 0:22:10Good luck, Nicola, present your pitch.
0:22:11 > 0:22:16My business is called The Sewing Cycle, and I upcycle clothes.
0:22:16 > 0:22:19My business plan is to sell items that I have upcycled in shops,
0:22:19 > 0:22:22fairs and on the internet, like this teddy bear,
0:22:22 > 0:22:25or these notebooks made from old trousers.
0:22:25 > 0:22:26I started sewing at the age of five
0:22:26 > 0:22:29and I received my first sewing machine at seven.
0:22:29 > 0:22:34I currently sell items that I have upcycled in a local shop.
0:22:34 > 0:22:37I believe that my target market is everyone.
0:22:37 > 0:22:39I think everyone can benefit from this product.
0:22:39 > 0:22:42My business is unique because it helps to eliminate waste.
0:22:42 > 0:22:44Instead of throwing away old clothes,
0:22:44 > 0:22:48I can add new life into clothes and save people a lot of money.
0:22:48 > 0:22:53- All my packaging is also recycled. - Sounds convincing.
0:22:53 > 0:22:57- Myleene wants to know more. - Well done.
0:22:57 > 0:23:01Can I have a little look at your handiwork?
0:23:03 > 0:23:07- You've been sewing since you were five years old?- Yes.
0:23:07 > 0:23:10Better than I am at the sewing lark, my goodness.
0:23:10 > 0:23:12Talk me through these pieces here.
0:23:12 > 0:23:15That was an old jumper, and I have used
0:23:15 > 0:23:20the kind of neck of the jumper as the neck of the hot-water bottle.
0:23:20 > 0:23:23And that was like an old tweed kind of jacket/jumper thing.
0:23:23 > 0:23:24OK, thank you very much.
0:23:24 > 0:23:29I'm just going to go back to my seat here and make some notes.
0:23:29 > 0:23:33How do you decide on the price points for every item?
0:23:33 > 0:23:38I factor in the labour, so I worked out how much labour is per hour
0:23:38 > 0:23:41and how much the raw materials cost,
0:23:41 > 0:23:44- and then I tried to double it.- OK.
0:23:44 > 0:23:47So there are companies out there making teddy bears
0:23:47 > 0:23:52out of Baby-gros as keepsakes, why is The Sewing Cycle different?
0:23:54 > 0:23:55Ooh, that's put her on the spot.
0:23:56 > 0:23:59Nicola presses the Pause My Pitch Button.
0:23:59 > 0:24:01The guru is locked away.
0:24:04 > 0:24:06Emma-Jayne to the rescue.
0:24:06 > 0:24:09So I think your main point of difference is that
0:24:09 > 0:24:11you are planning to create a Sewing Cycle network,
0:24:11 > 0:24:14because I don't think other companies are doing that.
0:24:14 > 0:24:16Some companies are using recyclable materials, but they are not
0:24:16 > 0:24:19necessarily sourcing people across the country to join in -
0:24:19 > 0:24:22you are essentially creating jobs for other people, as well.
0:24:22 > 0:24:24So I will say that it is different
0:24:24 > 0:24:27because I plan to create a whole network of people doing
0:24:27 > 0:24:31this for me so it can really expand, and also helps to reduce waste.
0:24:31 > 0:24:33OK, good luck, you've got this.
0:24:41 > 0:24:44My business is different because I plan to have
0:24:44 > 0:24:48a network of people all around the country who can do this for me,
0:24:48 > 0:24:52who can work from their own homes, so it is like a community,
0:24:52 > 0:24:54and also, it is all upcycled material,
0:24:54 > 0:24:56so it eliminates a lot of waste.
0:24:56 > 0:25:00- It does indeed. Nicola, thank you very much.- Thank you.
0:25:00 > 0:25:02All of the pitches are now done.
0:25:07 > 0:25:11Three fantastic ideas, but only one can receive a year's worth
0:25:11 > 0:25:15of pocket money and the priceless opportunity to spend time
0:25:15 > 0:25:18with Myleene behind the scenes in her business.
0:25:18 > 0:25:21Will she pick Jack and his travel backpacks?
0:25:21 > 0:25:24Eva and her personalised jewellery?
0:25:24 > 0:25:27Or Nicola with her upcycled clothes and accessories?
0:25:29 > 0:25:33- Myleene, they are brilliant ideas, aren't they?- They are truly superb.
0:25:33 > 0:25:37Jack, I think a lot of people could learn about pitching from you.
0:25:37 > 0:25:40Confident, strong, you didn't blag...
0:25:40 > 0:25:43Well, maybe a little, but in a way that I liked.
0:25:43 > 0:25:46But most importantly, you have got the information,
0:25:46 > 0:25:49and I like that - I really like that about you.
0:25:49 > 0:25:53Miss Evangeline, when you walked off, I looked at the product,
0:25:53 > 0:25:54and I noticed more about it.
0:25:54 > 0:25:58I noticed that you have looked at my birthstone and got it right.
0:25:58 > 0:26:01I looked at it and thought, "This girl has done her research and she
0:26:01 > 0:26:06"has succeeded in making me feel how you wanted that product to feel."
0:26:06 > 0:26:09Nicola...not only are you upcycling,
0:26:09 > 0:26:12you are also bringing a community together.
0:26:12 > 0:26:15That is a very clever idea indeed.
0:26:15 > 0:26:18So, Myleene, who is your prize pitcher for today?
0:26:18 > 0:26:20The pitcher I am choosing is...
0:26:31 > 0:26:33..Nicola from The Sewing Cycle!
0:26:33 > 0:26:35CHEERING AND APPLAUSE
0:26:35 > 0:26:38I'm so excited!
0:26:38 > 0:26:41Well done, that is absolutely brilliant. How do you feel?
0:26:41 > 0:26:43I am amazed and so happy.
0:26:43 > 0:26:45And what did you think about the other guys you were up against?
0:26:45 > 0:26:47I thought they were both amazing ideas that
0:26:47 > 0:26:50- I didn't really think I would win. - I think what was
0:26:50 > 0:26:55really, really special about you is the potential that you have.
0:26:55 > 0:26:58Well, good luck with it, well done.
0:26:58 > 0:27:00I am feeling really proud of myself for where I got.
0:27:00 > 0:27:03I mean, there were hundreds of kids applying for this.
0:27:03 > 0:27:06I am going to continue with Evangeline Jewellery Designs
0:27:06 > 0:27:08and make it as big as I can.
0:27:08 > 0:27:12I chose Nicola because I was hugely excited by what
0:27:12 > 0:27:13she pitched to me.
0:27:13 > 0:27:15It is a talent that she has to produce these items,
0:27:15 > 0:27:18and the creativity, it is all going to
0:27:18 > 0:27:20come from her, she is the business,
0:27:20 > 0:27:23so when you ask, "What is your USP?", it is her.
0:27:23 > 0:27:24I am feeling really happy
0:27:24 > 0:27:27and excited about where this business can go.
0:27:27 > 0:27:31It has been an amazing experience for me.
0:27:31 > 0:27:33Lovely to see you.
0:27:33 > 0:27:36Nicola now has a year's worth of pocket money to help turn her
0:27:36 > 0:27:38business into a reality.
0:27:38 > 0:27:40Meet the team!
0:27:40 > 0:27:42And she looks right at home.
0:27:42 > 0:27:43You are going to be the one-stop shop
0:27:43 > 0:27:45for people that want to upcycle.
0:27:45 > 0:27:48Find out what happened next at the end of the series.