Retail Pocket Money Pitch

Imagine a year's worth of pocket money up for grabs,

just waiting for kids like you from across the UK

to come up with a winning business pitch.

-I live in Newcastle...

-I'm from Birmingham...

-Manchester...

Could you spot a gap in the market?

Beads, Jewels And Geodes is a high-fashion,

handmade jewellery business.

What's your big idea?

Our business idea is...

-Upcycling!

-Boom!

Or are you the next Branson, Sugar or Dyson?

My business idea is to create films for special occasions.

Now budding entrepreneurs are entering the pocket money pitch-off.

All are hoping to secure that valuable pot of cash

and the priceless help of our top industry gurus

to kick-start their businesses.

They will have just one chance to call for help.

And this is it. The Pause My Pitch button.

One guru to impress, only one idea can come out on top.

This is Pocket Money Pitch.

Pocket-money pitchers, it's time to go head-to-head.

Present your pitch.

-The pitcher...

-I've chosen...

-Is...

We have searched the whole of the UK to find

the best young business talent.

And some of the very finest are about to go head-to-head.

Today, we have six businesses hoping to revolutionise retail.

We spend £300 billion in UK shops every year.

For that, you could buy three international space stations.

Only three will get the chance to pitch in the vault

to today's guru Hussein Lalani, who can sell ANYTHING.

Hussein grew his family pound shop from one store

to 250 and then he sold his business for 55 million quid.

Our pitchers can improve their chances of selling

their ideas to Hussein by impressing the business buddies.

These guys are top entrepreneurs -

it's their job to spot ideas that could win the store wars.

Well, those are our buddies.

Here are our pitchers.

First to pitch is Tom. He's ten years old and from Sheffield.

The reason I want to go into business

is because I can be my own boss.

Tom is going head-to-head with brothers Finn and Euan,

aged 8 and 11.

-He comes up with the crazy ideas...

-And he makes them happen.

Both teams are pitching retail ideas, but who will the buddies

think is the best seller?

Cook Junior, you're going to start us off. Take it away.

Hello, my name is Tom.

Kids love to cook, including me myself.

But it can sometimes be a little hard

using the default adult utensils.

Today, I will be showing you the pancake pro set, which will

make it easier for kids to make pancakes.

Firstly, the set contains an easy-to-use measuring jug,

with a wide opening to avoid spillage.

Secondly, the egganator, to fish out any eggshell.

An easy-to-use spatula,

bigger than normal, to give your pancake a nice secure lift.

Pancake day could be every day!

Will the buddies buy into Tom's kitchen utensils for kids?

Hoping to flip things round, Finn and Euan.

-BOTH:

-Hello, buddies!

We're The Boys In The Hats, two brothers from Pembrokeshire.

Our business idea is to personally take photographs

of local iconic themes, put them onto cards,

coasters and place mats, etc,

and then sell them locally and online to retailers

and other customers.

We also intend to branch out into mugs, T-shirts and tea towels.

We believe we can market it well as The Boys In The Hats

and we hope that this branding will help us overcome the competition.

We thank you for your time.

Hats off to you, lads. Brilliant job.

'But only one pitch can go through to face the guru.

'The power is in the hands of the buddies.'

Emily, we'll start with you.

I'm going to go for Cook Junior.

Amber.

I think there's a greater market opportunity with Cook Junior.

So, Tom, I'm with you.

Tom, you've got another vote there.

'The Boys In The Hats badly need this next vote from top chef, Luke.'

Boys In The Hats, really great idea...

but on this occasion I am going to go with Cook Junior, great idea.

Cook Junior, you are through to the next round. Well done.

Boys In The Hats, let's find out who Bianca

and Ben would've voted for. Bianca.

Boys In The Hats, really good job,

but I would've voted for Cook Junior also.

Ben.

My vote goes to Boys In The Hats because being in your industry,

I know exactly how profitable it is

and I really give you the best of luck.

The lads leave with one vote, but they won't be hanging up

their business hats just yet.

We really, really enjoyed it and we're going to carry on, aren't we?

Yes, definitely.

Now, Tom needs a buddy,

the expert who can help him perfect his pitch

and be ready to run on if things get tough with the guru.

He can choose between product innovator Emily,

jeweller to the stars Amber,

mover and shaker chef Luke,

or big-time brand consultant Bianca.

I think I'm going to go for Luke.

Luke! So, we'll see you later in the vault.

Next up going head-to-head

are 11-year-olds Amelia and Sophie from Cheshire.

Our mums inspire us so much because they're such great businesswomen

and they're solid in everything they do.

They'll be pitching against Paris and Havana,

aged 12 and 14, from Essex.

We both have really good ideas and we can put them together

really well because we think similarly, but still contrastingly.

Cook Junior Tom teamed up with Luke

so it's time for a new buddy, online retail expert, Suleman.

The Chocolate Challenge, you're up first. Take it away.

-BOTH:

-Hi, we're Amelia and Sophie.

And we're here to pitch to you the Chocolate Challenge.

The Chocolate Challenge is a circular box of chocolates,

each one holding a different surprise.

The youngest player will spin the spinner

and it will land on a chocolate.

It may land on a bad chocolate which could be choc...

vinegar or peas.

Or it could land on a good chocolate

which range from caramel to orange.

Our slogan is...

Dare to torture your taste buds.

'A new spin on chocolate, but there's a rival idea

'going head-to-head.'

Gorgeous On Earth, take it away.

-Hi, I'm Havana.

-And I'm Paris.

And together, we're Gorgeous On Earth.

A journey around the world.

Our business idea is a scented candle brand

which incorporates scents from different locations

around the world. This one here is called Gorgeous In Havana.

And this over here is Gorgeous In Paris.

Gorgeous On Earth will transport our customers

from their coffee table to Paris

and from their bath to the Gold Coast.

Or from their comfortable yet usual bedroom to the tropics of Havana.

-BOTH:

-This is Gorgeous On Earth. Thank you.

'So who will bag a buddy for the vault,

'Gorgeous On Earth candles or the Chocolate Challenge?'

Ben, let's start with you. Who are you voting for?

Amazing ideas, girls, but I'm going to go with

-Gorgeous On Earth.

-Emily.

I'm going to go for Chocolate Challenge.

Chocolate Challenge!

So you've both got a vote each now.

Let's find out who Amber's voting for.

Really strong pitches from both of you. However,

I'm more familiar with the market that Gorgeous On Earth

are trying to crack.

'So Paris and Havana have two buddies.

'They're just one vote away from pitching to the guru.'

Suleman.

Tricky decision, but with my background in retail,

I have to look at which product I feel will sell better.

And for that reason,

I'm going with Gorgeous On Earth.

Gorgeous On Earth, you're going through to the next round.

But let's find out who Bianca would vote for.

I do love chocolate and I do love a challenge, and I'm really

tempted to try chocolate and vinegar. However, I'm going to go

with Gorgeous On Earth because candles are a market I understand.

'So it's all over for Amelia and Sophie.

'I quite like the sound of sprout and peas chocolates!'

Even though we didn't get through, we're still going to try as hard

as we can to carry on with our idea

and continue to torture people's taste buds.

Gorgeous On Earth now choose the buddy

they think will be the best help when they face the guru.

Will it be fashion frontrunner Amber,

online entrepreneur Suleman,

branding brainbox Bianca

or digital dynamo Ben?

-OK.

-Decision?

We have decided to go with Bianca.

Bianca!

-Good luck. BOTH:

-Thank you!

Time for a last pair of pitchers to go head-to-head.

Anusha is 13 and from Bedfordshire.

My dad is my business inspiration

because he started from scratch and he now has over 80 employees.

And last but not least is 13-year-old Luke from Lincolnshire.

He's inspired by his dad too.

My interest in woodwork came around when my dad was fixing

the play shed, and with the scraps of wood we made a box together.

We need a new buddy, so clothing entrepreneur Emma-Jayne

joins the panel for the final head-to-head.

Anusha, you're going to start us off.

Give us your pitch for Wood Reloved.

Hello, my name is Anusha

and my business is called Wood Reloved.

Wood Reloved was made up after trying to find a picnic bench

which was disabled-friendly for my dad and family to use at home.

We couldn't find one so we decided to make one out of strong

old roof timbers.

As my skills have progressed, I've made naughty steps

and children's chairs.

For my children's chairs, it costs me £4.08 to make.

And I sell them for £15,

which gives me £10.92 profit.

Thank you for the opportunity of talking to you today

and thank you for listening.

Thank you very much, Anusha, and well done.

Luke, you're up next with Rix Kits. Take it away.

Hello, buddies. My name is Luke and my business name is Rix Kits.

The idea is wooden kits young and old people can make,

even if they have limited tools

and not enough experience to do the project themselves.

The kits would include all the items necessary such as wood,

the glue, the screwdriver, etc.

A unique point about my idea is that it wouldn't just supply

the customer with an opportunity to make a project,

but it would supply them with an achievement

and that could be something to be very proud of.

Thank you very much for your time.

It's been my pleasure pitching to you.

Handiwork there from both pitchers,

it's going to be a tough call for the buddies.

Suleman, tell us who you're voting for.

My vote on this occasion is with Anusha.

Emma-Jayne.

I will be giving my vote towards Wood Reloved.

Wood Reloved, you've got two votes there.

You just need one more vote

and then you will go through to the next stage.

Ben.

My vote goes to Luke from Rix Kits.

'Ben's vote makes it 2-1. So it's not over yet for Rix Kits.'

Emily.

Great job, guys, this is a really difficult one.

But I went for Wood Reloved.

Wood Reloved, you're going to pitch to the guru

but let's find out what our buddy Amber would've voted for.

Anusha, I'm with you, Wood Reloved.

Rix Kits didn't win over the buddies

but it won't stop Luke building on his business plans.

My plan is to try and sell some things that I've made to help

pay for tools and stuff like that.

Anusha needs a buddy to help craft her pitch ready for the guru.

Four voted for Wood Reloved -

online retail expert Suleman,

clothing creative Emma-Jayne,

product pioneer Emily

and fashion retailer Amber.

-Erm, Emma-Jayne.

-Emma-Jayne.

Anusha, thank you very much.

I'll see you in the vault a little bit later on.

Good luck preparing.

So, six have now become three,

Cook Junior, Gorgeous On Earth and Wood Reloved.

They're now going to prepare, ready to pitch to today's guru, Hussein.

Today's guru is used to counting the pennies

and letting the pounds look after themselves.

Hussein knows everything about retail -

he built his pound store business up,

serving 1.5 million customers every week.

The retail industry is hard.

Because there's so much choice out there

and it's so difficult to get people to part with their hard-earned cash.

I think I've been successful

because I've created a strong brand that people have recognised.

There's a year's worth of pocket money waiting for the pitch

that impresses the guru.

That's £322.40 to invest in their business.

Plus one-on-one time with Hussein,

something which is NOT available in the shops.

What I'm looking for in a good business is something that knows

its customer, that knows its market

and has a product that can meet that demand.

All great businesses need a well thought out business plan

in order to be successful.

First and foremost, I want to smell the candles.

The young entrepreneurs will need to use all of the experience

of their buddies to help them pitch.

And Anusha's business plan is a priority for Emma-Jayne.

The garden centre would then sell it for £20.

-Do you see? Because everyone has to make money along the way.

-Yeah.

Tom wants to cause a stir in the vault.

I think I might, like, want to make a pancake disaster

kind of thing.

That's brave, Tom!

But don't forget about those numbers.

As brilliant as the pitch was, one thing that they will ask

is the numbers.

Bianca wants Amelia and Sophie

to think about exactly who would buy their candles.

A cheaper product,

you make your money by selling more items at a cheaper price point.

Now, while the pocket-money pitchers get ready,

the vault is preparing for the final showdown.

The mission, to win over the gurus.

But if at any point the pitchers get stuck,

they can press this, the Pause My Pitch button

and the guru will be locked away

and the buddy will be able to run on and help them.

But they need to choose their time wisely with this,

because they can only Pause My Pitch once.

Our guru Hussein wants to see a good business plan

and retail products that customers need.

Tom is first, with buddy Luke nervously waiting backstage.

Good luck, Tom.

Present your pitch.

So, today I'm going to show you pancakes.

75g of flour.

Tom's been working on a daring start to his pitch.

Let's hope it doesn't fall flat as a pancake.

I think that might be a bit too much.

Erm, I think that looks about 5ml?

Ooh, that looks a bit lumpy, I think it needs more milk.

Ooh, there's some egg shell in there.

Looks like things aren't going EGGS-actly to plan.

Don't think I can get that out.

Oh, well!

That's gross.

If only there was some easier way of making pancakes.

Well, now there is.

May I introduce you to the pancake pro set,

brought to you by Cook Junior.

The set contains an easy-to-use measuring jug.

Secondly, the egganator, to fish out any egg shell.

Thirdly, you pour the ingredients into the shaker

which contains a special mixing bowl.

You then turn the shaker upside down and squeeze the batter out

directly from the shaker into the pan using the special nozzle on top.

This lets you make your own designs.

Flipping is one of the hardest parts of making pancakes,

with it ending crumpled, over the side of the pan, on the floor

or even worse, on the ceiling.

The set includes a spatula,

bigger than normal, to give your pancake a nice secure lift.

The set will cost just under £10 each.

It will cost under £4 to make,

letting me have over a 50% profit margin.

Pancake day is every day!

A brave pitch from Tom.

Has it paid off?

OK, so, a couple of questions for you.

Which kind of retailers do you think would sell your product?

Would it be toy shops or would it be more cooking shops?

Toy shops, cooking shops, both of them,

-and also other big supermarkets.

-OK.

Have you thought about how much profit

you're going to give the retailer?

If I get it for about £2.50 each, maybe selling it to them for £10

and saying to them it would be a good idea to sell it for £10.

-I mean, give it to them for £5, sorry.

-Right.

Have you thought about if this works, you could increase the range?

Any other products you think you could add into your range?

In the future, I was thinking my next product could be pie making.

Good idea. I like pies, so definitely work on that.

Thank you for your time.

I like pies too!

There was method to Tom's kitchen madness.

Next into the vault, Havana and Paris.

Buddy Bianca is just a button press away.

Present your pitch.

-Hi, I'm Havana.

-And I'm Paris.

And together we are Gorgeous On Earth.

A journey around the world.

Our business idea is a scented candle brand which incorporates

distinctive scents from different locations around the world.

We're offering organic and unique scents,

such as home-grown lavender and freshly grown mint and many more.

-Demographic.

-We found from the secondary source that 70% of females

and 53% of males bought candles, ranging from 12 to 102.

Pricing.

We've taken into account the cost of making the candles

and it's a low price of £1.20

and we've decided to price it at £4.99.

As we expand, we'll sell to retailers at the price of £2.99.

This will allow us to make a profit of £1.79 with store sales.

Our future plans include adding seasonal scents.

We'd set up market stalls and involve ourselves in local events.

And maybe even setting up an online website.

-BOTH:

-This is Gorgeous On Earth. Thank you.

-Would you like to smell one?

-Yes, please.

This one is called Gorgeous In Autumn.

-Mm, it smells good.

-Thank you.

Smells good, sounds good, but retail guru Hussein

knows the young entrepreneurs are entering a competitive market.

OK, so this is quite an interesting idea.

Now, is that your final label? Because the way I look at it,

that label doesn't really stick out very much to me.

We've got some friends who are really artistic

and they were going to help us with making new labels

which would look classy,

and they would contrast with the colours of the candles.

Now, you know, obviously flames can be dangerous

so what about product testing?

How do I know that when I light that candle,

-the glass isn't going to crack?

-What we'd do is

we'd burn the candles, like, ourselves,

and test each of them before we sell them.

So, for me as a retailer, as much as I'm sure you tested it properly,

I wouldn't be entirely comfortable with that test.

We could have professionals come in

and test our products

-because we wouldn't want to put anyone in harm's way.

-Fine.

If your cost to manufacture is £1.20

and your retailer will sell it for £4.99,

how much are you selling to the retailer at?

We're selling it at a 40% discount

so we're selling it to them at 2.99.

So, how much profit is the retailer making?

The retailer is making the profit of...

-two... £2. £2.

-£2.

But doesn't the retailer have to pay VAT?

Now, he's talking about Value Added Tax,

something that has to be paid by the retailer on most items sold.

How much is VAT?

The girls' sums don't add up.

Erm...

The guru is locked up where he can't see or hear anything.

Don't worry, he was asking some really tough questions, OK?

So, the cost of VAT in the UK is 20%, OK?

But I think you need to explain that as you grow and expand,

you would outsource the manufacture of the candles so you'd be able

to bring down your cost price because you'll be buying in bulk.

-OK.

-But don't worry, it was hard, really hard questions.

-20% VAT, got it?

-Yeah.

-OK, thank you.

-Yes?

-Good luck, you'll be fine.

-BOTH:

-Thank you.

The guru is unlocked, so has Bianca added value to the pitch?

VAT is 20% and this would be payable because as we would

be buying in bulk as we expand our business,

the pricing of our actual things would go down

so we'd be able to put down the pricing of our candles.

OK, thank you very much for your professional pitch.

-BOTH:

-Thank you.

Nicely done.

Paris and Havana have moved heaven and earth to convince Hussein

they're worth backing.

Our final pitcher is Anusha,

who won over buddy Emma-Jayne with her sustainable wood furniture.

Can she make Hussein sit up and take note?

Present your pitch.

Wood Reloved was set up after

trying to find a disabled-friendly picnic bench.

We couldn't find one, so we decided to make one out of strong

old roof timbers.

As my skills progressed, I've made naughty steps and children's chairs.

My benches cost £6.35 to make and I sell them for £20.

I also personalise them for an extra £10.

For my children's chairs, it costs me £4.08 to make

and I sell them for £15.

My unique selling points are they're home-made from reclaimed wood,

each piece has its own history,

they reduce the need to cut down trees and reduce landfill.

Thank you for the opportunity of talking to you today

and thank you for listening.

So far so good,

but will Anusha sustain her coolness under questioning?

Thank you, Anusha, for that presentation.

So, I have a few questions.

First of all, the wood you said is sustainable,

so where are you currently sourcing your wood from?

I source my wood from a local social enterprise which...

Erm...

Which gives us a good deal.

OK. Where do they get their wood from, do you know?

They get their wood from builders.

-From builders?

-Yeah.

-Builders' leftover wood.

-OK.

So there is a lot of reclaimed wood products out there,

what makes yours different from the rest?

Anusha has paused her pitch.

Guru out of sight, Emma-Jayne in.

So you need to talk about, first of all, your personalisation,

-you've got your six designs, yeah?

-Yeah.

And you can also do initials painted onto the children's chair. Yeah?

So you know everything you do so get your passion out there, yeah?

OK, you've got this.

Can Anusha convince Hussein that her wooden seats

will stand out in the crowded market?

Well, I personalise them and I have six designs.

I also...

I will also do initials as well, within reason.

OK, good.

My final question is

where are you planning to sell the products?

Well, I hope to sell on my own website,

farmers' markets, Christmas markets

and eventually in garden centres.

OK, great. Thank you for your time

and thank you for showing us your lovely products.

Thank you, Anusha.

Three businesses have made it through the vault -

Cook Junior, Gorgeous On Earth and Wood Reloved.

Who's done enough to receive a year's worth of pocket money,

plus invaluable time with the guru?

Fantastic retail ideas there. What did you think of them?

I thought they were all good in their own different ways.

I like Tom's idea because it shows a lot of innovation

and it will certainly stop a lot of mess in my kitchen.

Havana, Paris, I think your idea is great.

And quite unique in the candle industry.

And, Anusha, I like the fact that your product is sustainable

and can also be personalised.

But only one of you can be chosen.

Hussein, who is today's prize pitcher?

The pitcher I've chosen is...

-..is Havana and Paris.

-Well done!

APPLAUSE

Congratulations, you've done it. How do you feel?

-Very happy.

-So happy!

-Can you believe it?

-BOTH:

-No!

-We can't wait to get started.

-Actually know that we can develop it

and we have the help of the money to help us actually start it up now.

Three great retail ideas...

I'm definitely going to carry on with Cook Junior.

I'm definitely going to carry on making my products.

..but only one pitch could be picked by the guru,

Gorgeous On Earth.

They'd put a lot of thought into actually developing their products,

on how to work out the costings,

on how to market it and what made it unique from other candles.

Now Havana and Paris have a year's worth of pocket money

to help their candles light up the world...

-Have you ever been in a warehouse before?

-No.

..and a guru to help them take stock of their business.

What you're going to see here is

products coming in from the factories

and going out to the customers.

Find out more in Pocket Money Pitch: What Happened Next

at the end of the series.