0:00:25 > 0:00:27These are the Dragons,
0:00:27 > 0:00:32five of Britain's wealthiest and most enterprising business leaders.
0:00:32 > 0:00:34Over the coming weeks,
0:00:34 > 0:00:39they'll make or break the dreams of dozens of budding entrepreneurs.
0:00:40 > 0:00:44I'm amazed how well you can present an absolutely ridiculous idea.
0:00:44 > 0:00:48But you can't, because if you could, you'd be making them day and night
0:00:48 > 0:00:51and smoking a cigar on a Caribbean beach.
0:00:51 > 0:00:55I'm asking you to compare the green apple with the green apple.
0:00:55 > 0:00:58Not an apple with a banana. Not an orange with a grape.
0:00:58 > 0:01:01I have no idea what you're talking about, Duncan.
0:01:01 > 0:01:03I am out.
0:01:10 > 0:01:12The multi-millionaire investors
0:01:12 > 0:01:15have each built up their fortunes from scratch.
0:01:19 > 0:01:22Retail magnet Theo Paphitis.
0:01:22 > 0:01:25Hotel and health club owner Duncan Bannantyne.
0:01:25 > 0:01:29Leisure industry expert Deborah Meaden.
0:01:29 > 0:01:32Queen of logistics Hilary Devey.
0:01:32 > 0:01:35And telecoms giant Peter Jones.
0:01:37 > 0:01:40The Dragons have the credentials, the contacts, the commitment
0:01:40 > 0:01:44and the cash ready to invest. But only in the right business.
0:01:46 > 0:01:51Will any of these hopeful entrepreneurs walk away with their money?
0:01:57 > 0:02:00Welcome to the Dragon's Den.
0:02:00 > 0:02:04Over our ten series, we've witnessed many memorable deals in the Den,
0:02:04 > 0:02:06but there's one great thing about business,
0:02:06 > 0:02:09there's never a shortage of new ideas.
0:02:09 > 0:02:11There's always another one around the corner.
0:02:11 > 0:02:15And there's no shortage of entrepreneurs ready to risk all in the Den.
0:02:15 > 0:02:18But as it's the Dragons' own money they're after,
0:02:18 > 0:02:20only the best will succeed.
0:02:20 > 0:02:22The rest will leave with nothing.
0:02:53 > 0:02:59My name's Noora, and I'm here today to ask you to invest in me
0:02:59 > 0:03:03and my products £50,000 in return for 20%.
0:03:03 > 0:03:06Millions of women worldwide have a problem
0:03:06 > 0:03:08with the application of eyeliner.
0:03:08 > 0:03:11It's not so much the top line, it's the actual flicks
0:03:11 > 0:03:13at the end that they have trouble in perfecting.
0:03:15 > 0:03:18In the media, everywhere you look, on magazines, on TV,
0:03:18 > 0:03:24girls and women are aspiring for this perfect flick tip.
0:03:24 > 0:03:26This is a single flick.
0:03:26 > 0:03:28This is the classic wing,
0:03:28 > 0:03:33which you'll see on people like Cheryl Cole, Amy Childs.
0:03:33 > 0:03:37This one here I created and Jesse J was in a magazine the other day
0:03:37 > 0:03:39and she's got her flicks like this.
0:03:39 > 0:03:42So basically what I've done,
0:03:42 > 0:03:45is I've come up with an idea of these adhesive little black designs
0:03:45 > 0:03:50that you just stick on the end of the eye.
0:03:50 > 0:03:54So basically, they are reusable.
0:03:54 > 0:03:59I'm just going to put that on the end of Kaylee's eyeliner
0:03:59 > 0:04:01which we prepared earlier.
0:04:03 > 0:04:07And I'm just going to pop that one on the other side the.
0:04:07 > 0:04:09Let's have a look. Great.
0:04:09 > 0:04:13So basically, this is a simple idea for girls to get
0:04:13 > 0:04:15the perfect flicks in different designs.
0:04:15 > 0:04:18Has anybody got any questions?
0:04:22 > 0:04:24Noora Lewis, along with model friend, Kaylee,
0:04:24 > 0:04:28might've brought the smallest-ever product into the Den,
0:04:28 > 0:04:31but she still needs a hefty £50,000 investment
0:04:31 > 0:04:33for her stick-on eye make-up concept.
0:04:33 > 0:04:37And Hilary Devey wants to hear about it firsthand.
0:04:42 > 0:04:45Have you worn them for a long period of time?
0:04:45 > 0:04:47I've worked with Noora since the release.
0:04:47 > 0:04:50I'm a dancer, so me and all my dancer friends wear the party range.
0:04:50 > 0:04:54They're very good. You don't have a problem with them slipping off.
0:04:54 > 0:04:56How do they come off?
0:04:56 > 0:04:59You pull them off softly. You don't want to rip it off.
0:04:59 > 0:05:00But they are self-adhesive.
0:05:00 > 0:05:05You'd get one use and then you can reuse using an eyelash glue.
0:05:05 > 0:05:06- They do look nice.- Thank you.
0:05:08 > 0:05:10I'm sure I've seen these for sale.
0:05:10 > 0:05:13There is nobody in the world that has had this idea.
0:05:13 > 0:05:18Sticker makeup is becoming a real big thing at the minute.
0:05:18 > 0:05:21You've got the lip tattoos might you've got the nail wraps.
0:05:21 > 0:05:23Nobody has thought about doing just the tips.
0:05:23 > 0:05:27In fact, I had the idea three years ago.
0:05:27 > 0:05:30When I used to do my glitter tattoos,
0:05:30 > 0:05:33the middle bit would be taken out to put the glue in the glitter.
0:05:33 > 0:05:35But then I looked at it and thought,
0:05:35 > 0:05:39"This bit that I'm throwing out would be fantastic to make tips."
0:05:42 > 0:05:45Impassioned responses from the likable entrepreneur.
0:05:45 > 0:05:49I'll leave you guys to it. Thank you. Thanks for your time.
0:05:49 > 0:05:51So what will Theo Paphitis make of it all?
0:05:55 > 0:06:00Noora, I'm not going to go through technical parts of this
0:06:00 > 0:06:04because I'm sure the ladies here will be far better than I at it.
0:06:04 > 0:06:08- So how much are you selling them for a pack, retail?- £6.99.
0:06:08 > 0:06:10And you wholesale them at... £3.
0:06:10 > 0:06:14- And they cost you...- 80 pence.
0:06:14 > 0:06:17OK. How many have you sold?
0:06:17 > 0:06:22Roughly half of it's been wholesale, so I'd say that's about £7,000.
0:06:22 > 0:06:28Then there's been retail at shows, so I'd say that's another £13,000.
0:06:28 > 0:06:31Actually, can I just say something else?
0:06:31 > 0:06:35Sally's Hair and Beauty have taken it into 270 of their stores
0:06:35 > 0:06:36right on the till point.
0:06:36 > 0:06:40That's in the whole of the UK and Ireland.
0:06:40 > 0:06:42I did a trade show in January.
0:06:42 > 0:06:45There's great diversity in this product,
0:06:45 > 0:06:49because not only have I created a range of the classic look,
0:06:49 > 0:06:52- I've also done the party range as well.- Noora.
0:06:52 > 0:06:54You like to talk a bit, don't you?
0:06:54 > 0:06:57It's just fantastic to be able to have the opportunity
0:06:57 > 0:06:58to talk about it.
0:06:58 > 0:07:01OK. What were you doing before this?
0:07:01 > 0:07:04I was demonstrating my Wow Brow.
0:07:04 > 0:07:07Wow Brow? You've got a product called the Wow Brow?
0:07:07 > 0:07:11It's a stencil that you put over the eyebrow and you fill it in
0:07:11 > 0:07:15with an eyebrow powder and it just gives you lovely shaped eyebrows.
0:07:15 > 0:07:20And before you developed the Wow Brow, what did you do?
0:07:20 > 0:07:24I did an all-in-one makeup, a compact that suits all skin tones.
0:07:24 > 0:07:27How far back would I have to go before I got to the bit
0:07:27 > 0:07:30where you weren't selling a product that you'd invented?
0:07:30 > 0:07:33I must say, I didn't invent the Wow Brow.
0:07:33 > 0:07:36That was just something else that I did.
0:07:36 > 0:07:39I've been out for ten years at the shows demonstrating different products.
0:07:42 > 0:07:46The Dragons often tell us that it says much about the person
0:07:46 > 0:07:49as the product they bring along, and they clearly like Noora.
0:07:49 > 0:07:53Deborah Meaden looks at to have something on her mind.
0:07:53 > 0:07:58Noora, you're quite right, for years people have worn eyeliner,
0:07:58 > 0:08:00but the little flick at the end is the fashion bit.
0:08:00 > 0:08:04The trouble is, when the flicks become unfashionable,
0:08:04 > 0:08:06your product's gone.
0:08:06 > 0:08:12Not only do I think that this is a fashion accessory,
0:08:12 > 0:08:15I always think it's a necessity for women.
0:08:15 > 0:08:20I really and truly believe that these could be as big as false eyelashes.
0:08:20 > 0:08:23OK, but your only opportunity, I think,
0:08:23 > 0:08:26with this is if you had a range of products.
0:08:26 > 0:08:28No, no, no.
0:08:28 > 0:08:32This is what I haven't mentioned to you as well, is I would actually like
0:08:32 > 0:08:36to sell them with eyeliners and with lashes. That is the idea.
0:08:36 > 0:08:38But when eyelashes go out of fashion
0:08:38 > 0:08:40and flick tips go out of fashion, then what?
0:08:40 > 0:08:43Can I just say one more thing?
0:08:43 > 0:08:48If I can just go out there and make that hit on the flick tips,
0:08:48 > 0:08:50I've got another absolutely fantastic idea.
0:08:50 > 0:08:53- Is it here in the Den?- No. No.
0:08:53 > 0:08:57No. In fact, it's just here.
0:08:57 > 0:08:59It's hard to invest in something that's just here.
0:08:59 > 0:09:01But I just thought that that's, you know,
0:09:01 > 0:09:04I just thought that it was about the flick tips
0:09:04 > 0:09:08- and that's why I was coming in.- Yeah.
0:09:08 > 0:09:13The trouble is, I think that this is a very short-term product,
0:09:13 > 0:09:15that I actually think you'll sell some.
0:09:15 > 0:09:18But you're certainly not going to get me a return on my investment.
0:09:18 > 0:09:21- You're lovely, but I won't be investing.- Thank you anyway.
0:09:21 > 0:09:23- I'm out.- Thanks, Deborah.
0:09:24 > 0:09:29It's a first dose of reality for Noora as she loses her first Dragon.
0:09:29 > 0:09:34And it seems like Theo Paphitis has made up his mind, too.
0:09:35 > 0:09:38Noora, your energy is fantastic.
0:09:38 > 0:09:40That's exactly what I love to see in the Den,
0:09:40 > 0:09:44someone who brings a product in, who is passionate about it
0:09:44 > 0:09:46and wants to take it places.
0:09:50 > 0:09:57But if I give you £50,000, I don't think I would get it back.
0:09:57 > 0:10:01The reality is, it will be copied very, very quickly,
0:10:01 > 0:10:04then you've got to carry on running to bring out the next product,
0:10:04 > 0:10:07and in all of that, you'll require further investment,
0:10:07 > 0:10:11further investment, further investment. Terrible!
0:10:11 > 0:10:13Go on.
0:10:13 > 0:10:18Because it is my creation, I am totally focused on this.
0:10:18 > 0:10:20But with all the best will in the world,
0:10:20 > 0:10:23I'm going to find it difficult to make money on this.
0:10:23 > 0:10:29So, very reluctantly, I'm going to have to say I'm out.
0:10:29 > 0:10:30- Good luck.- Thank you.
0:10:30 > 0:10:32I've got a feeling you don't need us.
0:10:32 > 0:10:36- You got this product which I don't know much about.- What's going to happen now is...
0:10:36 > 0:10:39- Is...- Sorry, I apologise.
0:10:39 > 0:10:42- I'm interrupting you. - Sorry. I interrupted you.
0:10:42 > 0:10:43- I'm sorry.- Do you know what?
0:10:43 > 0:10:47Working with you would be like working with 50 women all in one.
0:10:47 > 0:10:49Um...
0:10:49 > 0:10:52The product is OK.
0:10:52 > 0:10:55It's just not amazing.
0:10:56 > 0:10:59I just can't see the business opportunity.
0:10:59 > 0:11:03- So, for that reason, Noora, unfortunately, I'm out.- All right.
0:11:03 > 0:11:04Thank you, Peter.
0:11:06 > 0:11:08Three Dragons out,
0:11:08 > 0:11:11and it looks like Noora's time in the Den is coming to a close.
0:11:12 > 0:11:18Can Duncan Bannatyne find a reason to disregard his rivals' concerns?
0:11:20 > 0:11:24The problem I'm looking at is, you've only sold £20,000 worth.
0:11:24 > 0:11:28I've actually only just done maybe five shows since December.
0:11:28 > 0:11:35- And how much revenue have you taken in the five shows?- £13,000.
0:11:35 > 0:11:38What did it cost you to go to those five shows?
0:11:38 > 0:11:40- You know, that's where the profit... - The answer is a number.
0:11:40 > 0:11:44Well, for example, I'm doing a trade beauty show next week...
0:11:44 > 0:11:48No, the five shows you did, I want you to concentrate.
0:11:48 > 0:11:52- What did it cost you to do this five shows?- £6,500.
0:11:52 > 0:11:56So out of your £20,000, you haven't really made any money, have you?
0:11:56 > 0:12:02That's right. The realisation is that that is eating up the money.
0:12:05 > 0:12:06Noora.
0:12:06 > 0:12:10I've been looking for a reason to invest because I want to invest in you.
0:12:10 > 0:12:14But it's not the product that's worthy of an investment. It's not fantastic.
0:12:16 > 0:12:19- I have to say I'm sorry, but I'm out.- OK. Thank you.
0:12:22 > 0:12:28Have you not thought about going to, say, Eylure,
0:12:28 > 0:12:31who produce hundreds of false eyelashes,
0:12:31 > 0:12:35and trying to sell it to them as part of the package?
0:12:35 > 0:12:38I have, but then I think it's great that Sally's have taken it on,
0:12:38 > 0:12:40because they are the biggest...
0:12:40 > 0:12:43Are Sally's putting it in the States as well?
0:12:43 > 0:12:45It's just the UK and Ireland now,
0:12:45 > 0:12:48but they've actually put it onto every till point.
0:12:56 > 0:12:58Um...
0:12:58 > 0:13:00This is really hard.
0:13:02 > 0:13:06I've got to say, I really admire your passion, your tenacity,
0:13:06 > 0:13:07your willpower.
0:13:09 > 0:13:12But I think this is far too easy to emulate,
0:13:12 > 0:13:15and by the time it does get out there,
0:13:15 > 0:13:19it'll probably be out of fashion. I've got to say, on this occasion,
0:13:19 > 0:13:23I'm out, but come up with something else and I would.
0:13:23 > 0:13:28I've got it. I've got it. You haven't seen the last of me!
0:13:28 > 0:13:30Thanks so much for all your feedback.
0:13:30 > 0:13:32Good luck.
0:13:32 > 0:13:36Noora may have captivated them with her energy and enthusiasm...
0:13:36 > 0:13:37- She was lovely.- Yes.
0:13:37 > 0:13:38But ultimately,
0:13:38 > 0:13:42her tiny product didn't have big enough potential for these Dragons.
0:13:42 > 0:13:44She leaves with nothing.
0:13:50 > 0:13:54Entrepreneurs wanting to make their millions often come up
0:13:54 > 0:13:56with inventions with safety in mind.
0:13:56 > 0:14:01Retired taxi driver Ernie Griffin hoped his security device for doors
0:14:01 > 0:14:05was at least worth a £65,000 investment.
0:14:05 > 0:14:08Door Defender was developed to help prevent doorstep crime.
0:14:08 > 0:14:11If it's on the hinge side of the door, it's being activated inside.
0:14:11 > 0:14:15You open the door a small amount, see who's there,
0:14:15 > 0:14:19the criminal is going to try and push past you,
0:14:19 > 0:14:23the Door Defender shuts the door. Feel safe, be safe.
0:14:23 > 0:14:25Get yourself one of those.
0:14:26 > 0:14:27After making such claims,
0:14:27 > 0:14:31you've always get the same reaction from one particular Dragon.
0:14:31 > 0:14:32Ernie, Ernie, Ernie.
0:14:32 > 0:14:34- Is it Theo-proof?- Yes.
0:14:34 > 0:14:39That's been tested to take 750 kilograms.
0:14:39 > 0:14:42- So it should just spring back?- Yeah.
0:14:42 > 0:14:46- I'd move out of the way, mate. So, at the moment it does that.- Yeah.
0:14:46 > 0:14:49If I went...
0:14:49 > 0:14:50Not bad.
0:14:50 > 0:14:52Theo-proof, tick.
0:14:52 > 0:14:54But there are plenty more Dragon hurdles to clear
0:14:54 > 0:14:57before investment is secured.
0:14:57 > 0:14:59There's other devices on the market.
0:14:59 > 0:15:02The obvious one is the chain on the door.
0:15:02 > 0:15:06- It only fits this side. - I know, it just fits the other side.
0:15:06 > 0:15:10So you can't be on the side that the door opens.
0:15:10 > 0:15:12So you have to re-hang your door to make sure it opens
0:15:12 > 0:15:15- back against your wall.- No!
0:15:15 > 0:15:21No, you don't! The door would hang this side and work this way!
0:15:21 > 0:15:25I have no idea what you're talking about, Duncan!
0:15:25 > 0:15:29Despite some confusion, the Dragons were all agreed.
0:15:29 > 0:15:33This was unlikely to be the idea that made Ernie his fortune.
0:15:33 > 0:15:36Ernie, for practically the same amount of money,
0:15:36 > 0:15:40someone can put a little intercom outside their door.
0:15:40 > 0:15:44Technology has moved on.
0:15:44 > 0:15:47- Please give it up, I'm out. - Thanks very much.
0:15:50 > 0:15:52Innovation in business isn't everything
0:15:52 > 0:15:54but it is almost everything.
0:15:54 > 0:16:00So, what will the Dragons make of Belarusian entrepreneurs, Artsiom Stavenka and Kiryl Chykeyuk.
0:16:00 > 0:16:04They've added an innovative feature to a 200-year-old invention.
0:16:26 > 0:16:28Hello. My name is Kiryl,
0:16:28 > 0:16:32and we are here today to offer you a 10% share
0:16:32 > 0:16:37of our company in return for £90,000 of your investment.
0:16:37 > 0:16:42Hello, my name is Artsiom and our company, Old Bond Bikes, is introducing a real breakthrough
0:16:42 > 0:16:45in outdoor advertising so let's demonstrate the product first.
0:16:55 > 0:16:58Our company uses a high-tech, innovative system called Video Pro
0:16:58 > 0:17:03to transfer video clips, images and advertising logos from a computer onto bike wheels.
0:17:07 > 0:17:10Our target market is various businesses, shops, events,
0:17:10 > 0:17:13private parties, nightclubs and we'll also pitch our product
0:17:13 > 0:17:16to a number of large media buying agencies with a lot of clients.
0:17:16 > 0:17:22Without advertising, we have managed to conduct two campaigns in London
0:17:22 > 0:17:25for the companies who simply found us via our website.
0:17:25 > 0:17:28Thanks, we would like to invite your questions.
0:17:31 > 0:17:36An eye-catching demonstration from the two friends.
0:17:36 > 0:17:40Kiryl Chykey and Artsiom Stavenkauk are looking for £90,000
0:17:40 > 0:17:42in return for a 10% share
0:17:42 > 0:17:44of their fledgling outdoor advertising company.
0:17:44 > 0:17:49Peter Jones knows a thing or two about tech products.
0:17:53 > 0:17:59My first reaction is the people that you are advertising to
0:17:59 > 0:18:02are likely to be stationary.
0:18:02 > 0:18:06You're on a bike doing 15 miles an hour,
0:18:06 > 0:18:09I've already lost the message when you've gone past me.
0:18:09 > 0:18:12It's fair to say this, but the purpose of outdoor advertising
0:18:12 > 0:18:16is probably for people to be attracted to this,
0:18:16 > 0:18:17to have a look at it.
0:18:17 > 0:18:21This would be tested on the roads. All the people will come to us,
0:18:21 > 0:18:24filming it on their mobile phones or on their cameras.
0:18:24 > 0:18:27People are shouting, "I can't believe it's happening."
0:18:27 > 0:18:29So, we know it works.
0:18:29 > 0:18:34It attracts absolutely all the people's attention who see it,
0:18:34 > 0:18:36and that's the purpose of outdoor advertising.
0:18:36 > 0:18:38Do you own the technology?
0:18:38 > 0:18:44We have the license for commercial usage for two years plus.
0:18:44 > 0:18:47Basically, we need to buy 20 systems every half-year
0:18:47 > 0:18:49and we will keep the licence.
0:18:49 > 0:18:52What does each system cost?
0:18:52 > 0:18:55At the moment, one system costs £700.
0:18:55 > 0:18:58One bike needs two systems.
0:18:58 > 0:19:00And you've got the exclusive licence in the UK?
0:19:00 > 0:19:03- Yeah.- OK.
0:19:03 > 0:19:04Do you have the license with you?
0:19:04 > 0:19:07- Yes.- Could I have a look at it, please?- Absolutely.
0:19:12 > 0:19:15It's a good start from the young Belarusians.
0:19:15 > 0:19:21Duncan Bannatyne wants to drill down into the finances.
0:19:21 > 0:19:26- You said you'd sold two campaigns. - Yes.- What did you get for them?
0:19:26 > 0:19:29The first one, we invoiced them for 1,800,
0:19:29 > 0:19:31and for the second one, it is 2,200.
0:19:33 > 0:19:37So, what's your ongoing costs, then, to change the advert,
0:19:37 > 0:19:40maintenance of the equipment that you put on the wheel?
0:19:40 > 0:19:43It doesn't cost us at all to install the wheels.
0:19:43 > 0:19:47The systems on the wheel will transfer the images...
0:19:47 > 0:19:50Is that because it's jumps out of the package
0:19:50 > 0:19:52and attaches itself to the wheel?
0:19:52 > 0:19:55- No, we do it ourselves. Initially... - So, you do it yourselves?
0:19:55 > 0:19:58- So, there is a labour cost? - Um, yes.
0:19:58 > 0:20:03- And you have to pay someone to ride the bike?- Yes, sure.
0:20:03 > 0:20:07So what profit are you making out of a £2,000 campaign?
0:20:07 > 0:20:12In the beginning, we are not going to have small campaigns at all.
0:20:12 > 0:20:18We are going to spend the investment only when we have an order secured
0:20:18 > 0:20:21because we need to spend the investment only on the stock.
0:20:21 > 0:20:23So, you're not going to do a campaign
0:20:23 > 0:20:26unless the campaign covers the total cost of buying the product.
0:20:26 > 0:20:28Absolutely.
0:20:30 > 0:20:34Kiryl and Artsiom are handling the questioning with some aplomb.
0:20:34 > 0:20:36Deborah Meaden looks impressed.
0:20:40 > 0:20:44What you have got here is brilliant and it's very simple, and very straightforward.
0:20:44 > 0:20:48So, can you just run through how you think this financially works?
0:20:48 > 0:20:52Absolutely.
0:20:52 > 0:20:56In the first year, we are planning to turn over £1.05 million
0:20:56 > 0:21:00and out of that, £480,000 is net profit.
0:21:00 > 0:21:02What's your background?
0:21:02 > 0:21:06How come you are in a position to underpin some pretty racy numbers
0:21:06 > 0:21:08like £1 million?
0:21:08 > 0:21:12I obtained a Masters degree in radiophysics and electronics
0:21:12 > 0:21:13from Belarus State University
0:21:13 > 0:21:16and I'm currently in my last year of a PhD
0:21:16 > 0:21:20in biomedical engineering at the University of Oxford.
0:21:20 > 0:21:23I've obtained Bachelors and Masters degree in International Law
0:21:23 > 0:21:27from the University of Manchester, and used to work
0:21:27 > 0:21:31as an immigration lawyer, and have some marketing background as well.
0:21:31 > 0:21:34What I'm getting from you is you are very, very brainy.
0:21:34 > 0:21:38- You're clever guys.- We are.
0:21:38 > 0:21:41Business-wise, we also used to run our company in Belfast.
0:21:41 > 0:21:43The company was in outdoor advertising.
0:21:43 > 0:21:47It was based on advertising on the back of rickshaw bikes.
0:21:48 > 0:21:52Guys, who were else has a similar system?
0:21:52 > 0:21:53Nobody else.
0:21:53 > 0:21:59- It's pretty amazing technology, it's not that easy to produce.- OK.
0:21:59 > 0:22:03I've had many, many years of outdoor advertising experience
0:22:03 > 0:22:06mainly on billboards and signage.
0:22:06 > 0:22:13This, as a concept, is flaky to say the least but...
0:22:14 > 0:22:18..I don't think you two are flaky.
0:22:18 > 0:22:22And sometimes, you make offers in the Den not because of the products.
0:22:22 > 0:22:24You make offers in the Den because of the people.
0:22:30 > 0:22:35- I'm going to make you an offer. - Thank you.
0:22:35 > 0:22:38The full 90,000 for 40%.
0:22:38 > 0:22:40Thank you.
0:22:43 > 0:22:48In a surprise move, Theo Paphitis makes an early offer of investment
0:22:48 > 0:22:50but he's demanding four times the amount of the business
0:22:50 > 0:22:53originally on offer.
0:22:53 > 0:22:57Will the determined entrepreneurs be able to convince another Dragon
0:22:57 > 0:22:59to lower the equity demand?
0:23:02 > 0:23:06Let me get this right. Monkey Electric are the licensor?
0:23:06 > 0:23:11- Yes. They are American manufacturers.- They're from MIT.
0:23:11 > 0:23:14- How did you find them? - On the Internet.
0:23:14 > 0:23:16Did you get a lawyer to look at this
0:23:16 > 0:23:20because there are no restrictive covenants in it?
0:23:20 > 0:23:23There are no conditions of plagiarism in it.
0:23:23 > 0:23:25We understand it.
0:23:25 > 0:23:27It's not in a perfect form but we'll amend it.
0:23:27 > 0:23:32How easy would it be to renegotiate?
0:23:32 > 0:23:34As easy as this.
0:23:35 > 0:23:37Everything is negotiable.
0:23:39 > 0:23:43I'm involved in another business, nothing to do with bikes,
0:23:43 > 0:23:46that has got a similar type of advertising.
0:23:46 > 0:23:50So, I'd like to make you an offer.
0:23:51 > 0:23:59Full amount of money, 40%, and we will help you market this product.
0:23:59 > 0:24:01Thank you, Hilary.
0:24:02 > 0:24:08Guys, the reason I would buy into anyone else, is they can do something
0:24:08 > 0:24:14I can't do, they've got a product I can't get, they've got a track record
0:24:14 > 0:24:19that tells me I've done it there and therefore I can do it again.
0:24:19 > 0:24:27My sense of review is that you've actually got a lot of it covered off so...
0:24:27 > 0:24:28I'm going to make you an offer.
0:24:31 > 0:24:33I'm going to offer you the full money
0:24:33 > 0:24:37and I want 40% of the business.
0:24:37 > 0:24:39Thank you.
0:24:41 > 0:24:46Unusually, the three rival Dragons have made exactly the same offer.
0:24:46 > 0:24:49The unconvincing license agreement and the early state of the business
0:24:49 > 0:24:53has clearly increased the risk factor.
0:24:53 > 0:24:56Will Duncan Bannatyne now agree with their assessment
0:24:56 > 0:24:59and make it four offers in a row?
0:25:01 > 0:25:04Right, the trouble with this deal is
0:25:04 > 0:25:08that I think I would lose the most important thing,
0:25:08 > 0:25:10something I could never buy.
0:25:10 > 0:25:12That's time.
0:25:12 > 0:25:15I think I'd spend a lot of time on this
0:25:15 > 0:25:17and end up going completely bonkers.
0:25:19 > 0:25:20- I'm out.- Thank you.
0:25:23 > 0:25:25You know, I get the gimmick. I'm seeing this as a gimmick,
0:25:25 > 0:25:29but I honestly do not get the advertising on a bike.
0:25:29 > 0:25:31The bike goes past,
0:25:31 > 0:25:35you've missed the message the bike is supposed to be sending.
0:25:35 > 0:25:37I can't invest in this. I'm out.
0:25:37 > 0:25:39- Thank you.- Thank you.
0:25:39 > 0:25:44Can we possibly have a couple of minutes to talk? Thanks.
0:25:50 > 0:25:55The Den is divided as two Dragons fail to see potential in the invention.
0:26:00 > 0:26:03But the decision now facing the young friends
0:26:03 > 0:26:06is which of the three identical offers to accept.
0:26:16 > 0:26:18OK, I would like to ask if Deborah
0:26:18 > 0:26:22and Theo would like to participate in this offer for £90,000...
0:26:22 > 0:26:2420% each.
0:26:28 > 0:26:30- Absolutely.- Excellent!
0:26:30 > 0:26:33- There we go.- Deal done. Congratulations, brilliant.
0:26:33 > 0:26:37Kiryl and Artsiom have done it. They may not have negotiated down
0:26:37 > 0:26:41on the equity demanded but they did get the two Dragons they wanted.
0:26:53 > 0:26:56There's money to be made in inventing solutions
0:26:56 > 0:26:58to troublesome everyday problems.
0:26:58 > 0:27:02Buckinghamshire-based couple John Bennett and Amanda Joseph thought
0:27:02 > 0:27:06they had just the thing to solve a burning issue in their household.
0:27:06 > 0:27:08They wanted £70,000.
0:27:09 > 0:27:14With conventional pillowcases, you have one pillow and one case.
0:27:14 > 0:27:18Ours, however, is one case that holds two pillows.
0:27:18 > 0:27:20This solves pillow slippage.
0:27:20 > 0:27:23Pillow slippage is when one pillow is placed on top of another
0:27:23 > 0:27:26and it kind of slips and slides underneath.
0:27:26 > 0:27:29We joined the two cases together with one central panel.
0:27:29 > 0:27:33- Can I have a go at this? - Of course.- Yes, you can!
0:27:33 > 0:27:35Come on!
0:27:35 > 0:27:37While two Dragons gave the product a test drive...
0:27:37 > 0:27:41- No slippage going on here!- There's no slippage at the pillow end!
0:27:41 > 0:27:44..we got to hear some unlikely confessions from the multimillionaires.
0:27:44 > 0:27:48- I am a bit of a pillow freak.- OK. - I've got six pillows in my bed
0:27:48 > 0:27:51with three different thicknesses and I like to change them about.
0:27:51 > 0:27:56- The thing is I've never ever encountered pillow slippage.- OK.
0:27:56 > 0:27:59I'm also a bit of a bedding freak.
0:27:59 > 0:28:03I like loads of pillows and I like moving them about.
0:28:03 > 0:28:06If I want a cold pillow, I take the one from underneath.
0:28:06 > 0:28:10I kind of move my pillows around. This is a terrible idea!
0:28:12 > 0:28:14Having tested their creation,
0:28:14 > 0:28:16Theo Paphitis had some bad news for the couple.
0:28:16 > 0:28:20You need to go back and redevelop this, back to choosing your pillows.
0:28:20 > 0:28:24This is not something that needs to exist.
0:28:24 > 0:28:30Use your resources, your money, your grey matter on something else.
0:28:30 > 0:28:32- I'm out.- Thanks, Theo.
0:28:32 > 0:28:37So far tonight, only one business has been worthy of a Dragon investment.
0:28:37 > 0:28:40Excellent! Congratulations.
0:28:40 > 0:28:43To get an insight into the psychological pressure
0:28:43 > 0:28:45the entrepreneurs face in the Den,
0:28:45 > 0:28:48press the red button at the end of the programme.
0:28:50 > 0:28:53Have you been stay-cationing in recent years?
0:28:53 > 0:28:56If you have, former policeman Glen Brady believes
0:28:56 > 0:28:58he has the perfect product for you.
0:28:58 > 0:29:01But will it be the perfect investment for the Dragons?
0:29:27 > 0:29:30Hi, my name's Glen, pleased to meet you.
0:29:30 > 0:29:32I'm the managing director of Oakenclough Buildings.
0:29:32 > 0:29:37I've come here today looking for a minimum investment of £250,000
0:29:37 > 0:29:41for at least a 30% stake in a new business that we are creating called Camping Bugs.
0:29:41 > 0:29:43The Camping Bug concept is simple.
0:29:43 > 0:29:47We design, we manufacture, we deliver and install buildings.
0:29:47 > 0:29:49Then we lease them to campsites,
0:29:49 > 0:29:54hotels and also lease them as garden offices and beach huts.
0:29:54 > 0:29:55By lowering the manufacturing costs
0:29:55 > 0:29:59by the careful sourcing of materials and by use of waste materials,
0:29:59 > 0:30:02I've managed to get the cost of the building down so we can now
0:30:02 > 0:30:05get it out to the end-line user at very affordable lease rates.
0:30:05 > 0:30:11The buildings are lined, insulated, double-glazed and manufactured for all-year-round use.
0:30:11 > 0:30:14Following the growth of the glamour camping business,
0:30:14 > 0:30:19the Christmas market trade and the number of festivals, there's now a ready market for this product.
0:30:19 > 0:30:20Any questions?
0:30:20 > 0:30:24- Glen, can we have a look? - Of course you can.
0:30:27 > 0:30:33Former police sergeant Glen Brady believes his new take on the "glamping" craze
0:30:33 > 0:30:34is about to make him his fortune.
0:30:35 > 0:30:38- That's not bad. - Pretty solid, isn't it?
0:30:38 > 0:30:42The Lancashire-based entrepreneur needs a cash injection of £250,000
0:30:42 > 0:30:47to get his new start-up company off the ground.
0:30:47 > 0:30:50But the hefty price tag does not seem to have put off Hilary Devey.
0:30:55 > 0:30:57- Glen.- Hi.- I'm Hilary.
0:30:57 > 0:31:00Tell us a little bit about how it's made, the cost of making it,
0:31:00 > 0:31:03the retail price, etc.
0:31:03 > 0:31:07I own a timber building manufacturer and as part of that business,
0:31:07 > 0:31:10- we have a machine that makes log cabins.- Right.
0:31:10 > 0:31:13And as a result of that production process,
0:31:13 > 0:31:17I end up with a lot of waste and scrap wood.
0:31:17 > 0:31:19So, if you look at the way the building is done,
0:31:19 > 0:31:23we've done the front and back panels from short offcuts of timber.
0:31:23 > 0:31:27So, these are the bits that are left from manufacturing of the log cabins,
0:31:27 > 0:31:31and basically, the production cost will be somewhere between
0:31:31 > 0:31:33£800 to about £1,500.
0:31:33 > 0:31:36< Right, OK.
0:31:36 > 0:31:38Have you leased any yet?
0:31:38 > 0:31:40All the ones that have been manufactured
0:31:40 > 0:31:43have been allocated to campsites or to places.
0:31:43 > 0:31:46- And how many is that?- We've got about 50 manufactured so far.
0:31:49 > 0:31:54A good start, as Glen settles easily in to Den questioning.
0:31:54 > 0:31:58But leisure industry expert Deborah Meaden knows this market well.
0:32:01 > 0:32:03So, you say you are making these or similar for between
0:32:03 > 0:32:05- £800 and £1,500.- Yeah.
0:32:05 > 0:32:08Which I think is incredibly good value.
0:32:08 > 0:32:15So, can you break that down in terms of labour, and materials?
0:32:15 > 0:32:20At the moment, we make all the arch sections in a small workshop I have in Poland.
0:32:20 > 0:32:22So, it's roughly about £750.
0:32:22 > 0:32:27The floes are about 100 quid, the shingles are about 120 quid.
0:32:27 > 0:32:31And then there is the labour, which brings us to about the £1,000 mark.
0:32:31 > 0:32:37- You're telling you can make that whole thing for £1,000. - This whole unit.- That's amazing.
0:32:37 > 0:32:39That's fantastic.
0:32:39 > 0:32:44Glen - £250,000. What are you going to do with quarter of a million pounds?
0:32:44 > 0:32:48Well, the initial part of the investment will be to upgrade
0:32:48 > 0:32:50some of the production facility we've got,
0:32:50 > 0:32:53but that would only account for £20-30,000 of the investment.
0:32:53 > 0:32:57The investment would be to build a lot of them quickly for specific events
0:32:57 > 0:32:59that we know we can lease them out.
0:32:59 > 0:33:03- The money would pretty much sit in situ if we didn't do that.- Right.
0:33:03 > 0:33:07If we don't lease any, if we don't put any on campsites,
0:33:07 > 0:33:11your money will stay in the bank and not get touched.
0:33:13 > 0:33:16Impressive product and a persuasive argument for investment.
0:33:16 > 0:33:20Glen is doing well. But what of his other company?
0:33:20 > 0:33:22Peter Jones wants to know.
0:33:23 > 0:33:28- Glen.- Yeah.- Your current business, what do you do?
0:33:28 > 0:33:31Manufacturing timber buildings, sheds, log cabins.
0:33:31 > 0:33:36What's the net asset value of the business at the moment?
0:33:36 > 0:33:37We own the land, the factory,
0:33:37 > 0:33:42we've got the machinery, the equipment - probably a couple of million pounds.
0:33:42 > 0:33:46So why would you not just do this yourself?
0:33:46 > 0:33:50The motives for the investment, look at leasing the product
0:33:50 > 0:33:55or getting this product to the market quicker than we ordinarily would do, making two or three each week.
0:33:58 > 0:33:59OK.
0:33:59 > 0:34:03So, I put a quarter of a million pounds into NewCo,
0:34:03 > 0:34:07NewCo spends my quarter of million pounds with your company,
0:34:07 > 0:34:12your company gets a return on the money invested
0:34:12 > 0:34:15because I've given you work,
0:34:15 > 0:34:18and also, you own 70% of NewCo.
0:34:18 > 0:34:22Normally, people have a bit more of a complicated process,
0:34:22 > 0:34:24so there's a bit more smoke and mirrors,
0:34:24 > 0:34:29but you've just gone, give me quarter of a million and give it to my company which I own 100% of!
0:34:29 > 0:34:34The position we're at now is it's ready to be taken as an autonomous business.
0:34:34 > 0:34:39Your people are producing all of the stuff that the company needs, with my money.
0:34:42 > 0:34:44It's a major setback for Glen,
0:34:44 > 0:34:49as Peter Jones uncovers a serious flaw in his investment proposition.
0:34:49 > 0:34:52And it looks to have incensed Theo Paphitis.
0:34:54 > 0:34:55Glen.
0:34:55 > 0:35:00What makes you think that anyone is going to give you quarter of a million pounds
0:35:00 > 0:35:04for something that's got hardly any assets in it,
0:35:04 > 0:35:06and all it is is building some sheds,
0:35:06 > 0:35:09and then if you do get orders for your sheds,
0:35:09 > 0:35:12the money's going to go to your other company and to Poland.
0:35:12 > 0:35:16My money's going to disappear. Please, please give me the answer
0:35:16 > 0:35:18why you think that's credible.
0:35:18 > 0:35:23The reason why it's credible, for every £1,000 we draw off in investment,
0:35:23 > 0:35:29we will manufacture a building that we can retail for between five and £7,000,
0:35:29 > 0:35:30even as garden offices...
0:35:30 > 0:35:35But you can't, because if you could, you'd be making them day and night
0:35:35 > 0:35:37and smoking a cigar on a Caribbean beach.
0:35:37 > 0:35:41There's no business model that makes any form of sense,
0:35:41 > 0:35:42except for yourself.
0:35:42 > 0:35:43- I'm out.- Thank you.
0:35:46 > 0:35:50Theo Paphitis delivers a stinging analysis,
0:35:50 > 0:35:53and Glen's earlier confidence takes a hit.
0:35:54 > 0:36:00Now, will Duncan Bannatyne agree with his rival's concerns?
0:36:00 > 0:36:02- I want to take you back to a question Hilary asked you.- Yep.
0:36:04 > 0:36:07She asked if you'd leased any out yet.
0:36:07 > 0:36:10And your reply was you'd allocated a number.
0:36:12 > 0:36:15And I don't know what that means. Have you leased any out?
0:36:15 > 0:36:16No.
0:36:20 > 0:36:24- Have any ever been leased out? - We leased half-a-dozen last year.
0:36:28 > 0:36:29OK.
0:36:32 > 0:36:34I'm out.
0:36:34 > 0:36:35Okey-doke.
0:36:35 > 0:36:39Right. I'm going to let you know where I am.
0:36:39 > 0:36:44It's a little bit insulting to come in here and ask for £250,000
0:36:44 > 0:36:47on a separate business without a track record,
0:36:47 > 0:36:54and no basis on which anybody in their right mind
0:36:54 > 0:36:58would ever consider investing. And you don't look stupid to me.
0:36:58 > 0:37:02You won't be at all surprised to hear I won't be investing. I'm out.
0:37:02 > 0:37:09- I appreciate that. Thank you.- Glen, I think your pitch was outrageous.
0:37:09 > 0:37:14I think your business model is preposterous. I can't say any more.
0:37:14 > 0:37:17I just can't say any more.
0:37:17 > 0:37:20I am out.
0:37:23 > 0:37:26Short shrift from three Dragons,
0:37:26 > 0:37:31and the bewildered entrepreneur's investment dreams look to be all but over.
0:37:31 > 0:37:35But Peter Jones seems to have something on his mind.
0:37:35 > 0:37:39Glen. Would you be interested in a conversation about
0:37:39 > 0:37:41investing in the whole business?
0:37:41 > 0:37:45Erm, to be honest, I wouldn't want to go down that avenue, really.
0:37:45 > 0:37:46Why?
0:37:46 > 0:37:50Erm... If you put...
0:37:50 > 0:37:55For every £1,000 you invest in these, the end line product...
0:37:55 > 0:37:58Glen, there's one thing about a guy that's been in business for 30 years,
0:37:58 > 0:38:01you ain't going to be able to diversify my train of thought
0:38:01 > 0:38:03by giving me some woolly story about this.
0:38:03 > 0:38:07If you've got a business that has a net asset value of two million quid,
0:38:07 > 0:38:12you're asking me to put £250,000 into a company that has no assets.
0:38:13 > 0:38:17Why would you not entertain a conversation about me coming into the whole?
0:38:18 > 0:38:22What would you bring to that business that would...
0:38:22 > 0:38:23LAUGHTER
0:38:23 > 0:38:24Oh dear me!
0:38:24 > 0:38:25In terms of... No, I just...
0:38:28 > 0:38:30I don't quite know what to say.
0:38:31 > 0:38:35You really should be coming in, pitching the whole business.
0:38:35 > 0:38:40But you didn't want to do that, because you want to keep it for yourself.
0:38:40 > 0:38:43This is definitely not investable, so I'm out.
0:38:43 > 0:38:46Thank you.
0:38:46 > 0:38:49It was a promising start, but it takes more than that
0:38:49 > 0:38:52to part these canny Dragons from their cash.
0:38:58 > 0:39:01After my experience in the Den, I have to say I've had better days in the office.
0:39:01 > 0:39:06I wasn't expecting to get quite such a severe reaction.
0:39:06 > 0:39:09I wasn't prepared to give part of my current business up,
0:39:09 > 0:39:12and by doing that, effectively, I put the nail in my own coffin,
0:39:12 > 0:39:14but that was fair enough.
0:39:14 > 0:39:16I'm now looking forward proving them wrong.
0:39:23 > 0:39:26Others who tried and failed in the Den included Egyptian-born painter
0:39:26 > 0:39:31Ash Hussain, who's invented a multi-angled paintbrush handle.
0:39:31 > 0:39:37By attaching the brush to the extension, as you see,
0:39:37 > 0:39:39to reach to the high and difficult area
0:39:39 > 0:39:42without need for ladder or scaffolding.
0:39:42 > 0:39:45A simple idea, and one which intrigued the Dragons.
0:39:47 > 0:39:50What's your background, how come you ended up doing this?
0:39:50 > 0:39:54I was working as a property developer and interior designer, and I was painting.
0:39:54 > 0:39:56The ladder slipped and I fell off.
0:39:56 > 0:40:01I was diagnosed with a broken neck, back,
0:40:01 > 0:40:03hips, as well as dislocated shoulders.
0:40:03 > 0:40:08I dedicated my life to preventing others suffering like me.
0:40:09 > 0:40:10A heartfelt story.
0:40:10 > 0:40:14But it wasn't long before the Dragons got down to business.
0:40:14 > 0:40:18If you bought a brush the same quality as this, same size,
0:40:18 > 0:40:21- what would you pay for it?- It depends of the bristle.- Same bristle.
0:40:21 > 0:40:25Same as this, with the plastic handle, what would cost?
0:40:25 > 0:40:28- Depends of the quality of the brush. - I'm asking you to compare
0:40:28 > 0:40:33the green apple with the green apple. Not an apple with a banana.
0:40:33 > 0:40:34Not an orange with a grape.
0:40:34 > 0:40:39This is confusing enough as it is. Apples, grapes, bananas?
0:40:39 > 0:40:40What are you trying to do to him?
0:40:41 > 0:40:44In the end, the debonair decorator got no cash,
0:40:44 > 0:40:48but he did receive some advice from Peter Jones.
0:40:48 > 0:40:51Take this product to some of the companies out there
0:40:51 > 0:40:58and say to them, "I want you to take this over and give me a percentage of the sales
0:40:58 > 0:41:00"if you can sell that product to the market."
0:41:02 > 0:41:03- I'm out.- Thank you.
0:41:04 > 0:41:08Next in the Den was 25-year-old Daniel Martin from west London
0:41:08 > 0:41:14who hoped his dot-com business could help people stuck in lengthy mobile phone contracts.
0:41:14 > 0:41:20Anybody with a mobile phone can become contract free regardless of their contract length
0:41:20 > 0:41:23without paying any termination fees whatsoever.
0:41:23 > 0:41:26This is perfect for people who have poor credit history.
0:41:26 > 0:41:31A complicated concept, but Theo Paphitis was able to sum it up neatly.
0:41:31 > 0:41:34All you're doing is putting two people together.
0:41:34 > 0:41:38- That's all it is. - Like a dating site.- With a phone.
0:41:38 > 0:41:41Really your market is students, isn't it?
0:41:41 > 0:41:43Who struggle to get credit.
0:41:43 > 0:41:49When those students and those youngsters start to default on payments, what then happens?
0:41:49 > 0:41:52The network themselves will be chasing them up for the payments
0:41:52 > 0:41:57- and that will affect their credit check.- What you're doing is making that credit default far easier.
0:41:57 > 0:42:00Slightly easier, yeah.
0:42:00 > 0:42:03In the end, it was left to the Den's telecoms expert
0:42:03 > 0:42:06to deliver a business lesson.
0:42:06 > 0:42:08Networks will not allow it. Why?
0:42:08 > 0:42:12They've already signed you up, they've got you there, you're a paying customer,
0:42:12 > 0:42:15they won't take the risk with transferring that to somebody else.
0:42:15 > 0:42:19So, you acting as a middleman are providing absolutely nothing.
0:42:19 > 0:42:24I'm amazed how well you can present an absolutely ridiculous idea.
0:42:24 > 0:42:26I'm out.
0:42:29 > 0:42:32Former barrister Dupsy Abiola is next into the Den.
0:42:32 > 0:42:35She's obviously used to arguing her case in court,
0:42:35 > 0:42:39but the question now is whether that will have provided a useful training
0:42:39 > 0:42:42for her encounter in the Den. Let's see how she gets on.
0:43:10 > 0:43:11Hi.
0:43:11 > 0:43:17My name is Dupsy Abiola and I'm the founder of InternAvenue.com.
0:43:17 > 0:43:21It's an online platform which is going to revolutionise the way that
0:43:21 > 0:43:26employers find qualified students and graduates for their businesses.
0:43:26 > 0:43:31I'm looking for £100,000 today, for 10% of my company,
0:43:31 > 0:43:35and I'm really excited to tell you about this opportunity.
0:43:35 > 0:43:38As business owners and employers yourselves,
0:43:38 > 0:43:41you know that hiring is hard.
0:43:41 > 0:43:43It's also expensive.
0:43:44 > 0:43:48It's also incredibly difficult to identify the candidates
0:43:48 > 0:43:54with the qualities and skills that you're looking for.
0:43:54 > 0:43:59InternAvenue allows you to directly search for and find the students and graduates
0:43:59 > 0:44:02with the qualifications that you're looking for
0:44:02 > 0:44:05without having to post an ad and then hope and pray
0:44:05 > 0:44:10that Mr or Mrs Right will come waltzing through the door.
0:44:10 > 0:44:15We believe that having a Dragon on board would be a real benefit
0:44:15 > 0:44:20to the platform as we drive forward and launch this into the public.
0:44:20 > 0:44:25So without further ado, I welcome any questions that you have for me today.
0:44:28 > 0:44:32A precise pitch from the poised entrepreneur.
0:44:33 > 0:44:38West Londoner Dupsy Abiola needs £100,000 to launch her new take
0:44:38 > 0:44:40on the graduate recruitment business.
0:44:40 > 0:44:43In return, a 10% stake is on offer.
0:44:44 > 0:44:47Deborah Meaden is eager to learn more.
0:44:49 > 0:44:50I'm Deborah.
0:44:50 > 0:44:55So just so I know where you're at at the moment,
0:44:55 > 0:44:58is this fully built?
0:44:58 > 0:45:01I think, in any technology site,
0:45:01 > 0:45:03it would be a mistake to think that you've got a finished product.
0:45:03 > 0:45:07I think we'll constantly be improving and seeing what people do
0:45:07 > 0:45:11- but we're ready to go, basically.- OK.
0:45:11 > 0:45:17What led to you this? Was your background in HR or...
0:45:17 > 0:45:21I was a lawyer. I was an employee barrister and my firm said,
0:45:21 > 0:45:25"Help us out with hiring our trainees."
0:45:25 > 0:45:30We had two positions and we were just flooded by applications
0:45:30 > 0:45:32and it took up so much time.
0:45:32 > 0:45:35At the same time, my little sister was leaving university,
0:45:35 > 0:45:41and she's a superstar. You know, one mark of her first, really dynamic.
0:45:41 > 0:45:44She's going places. And she was whining to me
0:45:44 > 0:45:47about how difficult it was to get in front of anybody,
0:45:47 > 0:45:52and I was like, "You're going to be embarrassed when I find a website
0:45:52 > 0:45:57"that you can go to", and I spent hours and I just kept on thinking to myself,
0:45:57 > 0:46:02"No-one is served by this current system. This is a huge problem."
0:46:02 > 0:46:06And I developed this platform and I'm really proud of it, really proud.
0:46:07 > 0:46:11A composed start from the young businesswoman,
0:46:11 > 0:46:13but what of her competition?
0:46:13 > 0:46:15Hilary Devey wants to know.
0:46:18 > 0:46:22Dupsy, hi. I'm Hillary.
0:46:22 > 0:46:25We employ a lot of graduates in very many areas.
0:46:25 > 0:46:32We've got quite close relationships with a lot of universities and that doesn't cost us anything.
0:46:32 > 0:46:35Why would an employer, if they've got that facility,
0:46:35 > 0:46:37want to subscribe to that?
0:46:37 > 0:46:43Many employers do attach themselves to either universities,
0:46:43 > 0:46:47favoured universities, or locational hubs,
0:46:47 > 0:46:51but that doesn't give you, I think, the breadth of the market.
0:46:51 > 0:46:58You might not be getting the candidates that actually best suit your business.
0:46:58 > 0:47:00The way that we work is,
0:47:00 > 0:47:05in addition to taking all the standard data and information
0:47:05 > 0:47:09that you might get on a CV and standardising it
0:47:09 > 0:47:11so you can search very robustly against it,
0:47:11 > 0:47:15we can also benchmark people. So we rank...
0:47:17 > 0:47:20Without getting too technical,
0:47:20 > 0:47:24we have matching algorithms that rank candidates,
0:47:24 > 0:47:29not just give you a blank list of every person who happens to be there.
0:47:29 > 0:47:33So, you put in your criteria, we score each candidate
0:47:33 > 0:47:36against one another and rate them, the best ones at the top,
0:47:36 > 0:47:39who are also available. Does that help?
0:47:39 > 0:47:43I bet you was a good barrister, wasn't you?
0:47:43 > 0:47:44I think, yeah, I was.
0:47:47 > 0:47:49First impressions are always important in the Den,
0:47:49 > 0:47:52and Dupsy has certainly made a good one.
0:47:52 > 0:47:56But Peter Jones knows this market well.
0:47:59 > 0:48:03You've got a very big competitor, that I'm sure you know,
0:48:03 > 0:48:05in this marketplace,
0:48:05 > 0:48:08a company set up by Raj Dey called Enternships.
0:48:08 > 0:48:12I know a lot about Enternships. Raj was also at Oxford with me.
0:48:12 > 0:48:16But Enternships doesn't do what I do.
0:48:16 > 0:48:20Enternships is a niche job board, effectively,
0:48:20 > 0:48:23and it's focused on the entrepreneurial marketplace.
0:48:23 > 0:48:26What I am is a connecting platform.
0:48:26 > 0:48:29And what makes you think that Raj is unable to do that
0:48:29 > 0:48:32or he isn't currently planning to do that?
0:48:32 > 0:48:36He's been running his job board for quite a few years
0:48:36 > 0:48:39and he hasn't done it thus far.
0:48:39 > 0:48:42The reason why, I'm not going to say it, but I know him very well
0:48:42 > 0:48:47and I know the business very well and he is going to do it.
0:48:47 > 0:48:49OK.
0:48:49 > 0:48:52What I'm finding intriguing is that you could have
0:48:52 > 0:48:56a first mover advantage over his business by what you've created.
0:49:00 > 0:49:07Charm, confidence, and by all accounts a credible business concept, but as yet, no offer.
0:49:07 > 0:49:11Will Deborah Meaden be first to buck that trend?
0:49:14 > 0:49:15Dupsy, can I...
0:49:15 > 0:49:20I still don't understand why you've come here asking for the £100,000.
0:49:20 > 0:49:24At the moment our burn rate is about £10,000 a month.
0:49:24 > 0:49:29If we continued at that pace, we'll run out of cash in ten months.
0:49:29 > 0:49:32However, we're getting quite a lot of interest in this.
0:49:32 > 0:49:36It's a real public issue, and so we may be overwhelmed,
0:49:36 > 0:49:40and I think that one of the things that can be a real mistake
0:49:40 > 0:49:44is going out there and not being able to support the demand that we might...
0:49:44 > 0:49:47Dupsy, Dupsy. Look.
0:49:47 > 0:49:48What happens if you walk out of here today
0:49:48 > 0:49:50with no investment to the business?
0:49:53 > 0:49:54I would be disappointed.
0:49:54 > 0:49:56I'm sure you would.
0:49:58 > 0:50:00But I'm a determined person.
0:50:00 > 0:50:01What happens to the business?
0:50:01 > 0:50:06We will more than double our burn rate at present.
0:50:06 > 0:50:09- So, four months left.- Yeah. We'll have four months left.
0:50:09 > 0:50:14That's a completely different answer than the answer you gave me.
0:50:14 > 0:50:17- Is it?- Yeah.
0:50:17 > 0:50:19What we... What we... What...
0:50:19 > 0:50:22If I didn't have the additional money,
0:50:22 > 0:50:24I would try and reduce my burn rate,
0:50:24 > 0:50:28so I wouldn't take on... You know, I'd try and graduate things.
0:50:35 > 0:50:38I think this is very, very risky,
0:50:38 > 0:50:42because I predict a future that,
0:50:42 > 0:50:45without an investor on board with deep pockets,
0:50:45 > 0:50:50you are going to run out of cash and you're going to spend your life
0:50:50 > 0:50:54trying to fundraise, and I'm not convinced enough about this model
0:50:54 > 0:50:58to be that person with those deep pockets.
0:50:58 > 0:51:01So I'm afraid I won't be investing.
0:51:01 > 0:51:02I'm out.
0:51:04 > 0:51:07It's the first blow for the former barrister,
0:51:07 > 0:51:09but still four Dragons remain.
0:51:09 > 0:51:12Will Dupsy now be able to convince Theo Paphitis
0:51:12 > 0:51:15that hers is a money-making opportunity?
0:51:17 > 0:51:23I know what we recruit graduates from another site
0:51:23 > 0:51:27- which costs us very little.- OK.
0:51:27 > 0:51:31How is your business so different
0:51:31 > 0:51:34that these graduates are all not going to go on those other sites
0:51:34 > 0:51:36and they're all going to go onto yours?
0:51:36 > 0:51:39We have huge plans for additional things
0:51:39 > 0:51:42that we're going to be doing to make it even better.
0:51:42 > 0:51:46We also are going to integrate things like online assessments,
0:51:46 > 0:51:51because people want to know about the motivations of a candidate.
0:51:51 > 0:51:56We also are going to have things like video interviewing integrated,
0:51:56 > 0:51:59so you can get a picture of who this person is
0:51:59 > 0:52:03before you waste your time, cos that's super important.
0:52:03 > 0:52:06Dupsy...
0:52:06 > 0:52:12I'm really not getting to the nuts and bolts of this business.
0:52:12 > 0:52:16You're a driven individual. I can see that a mile off.
0:52:16 > 0:52:17Thank you.
0:52:17 > 0:52:21But, I'm probably going to regret this,
0:52:21 > 0:52:26but I'm going to pass on you and I'm going to say I'm out.
0:52:26 > 0:52:27That's a shame but thank you.
0:52:31 > 0:52:32Any other questions?
0:52:34 > 0:52:38Dupsy, I've no questions.
0:52:38 > 0:52:41I just think there is too many people doing this,
0:52:41 > 0:52:44so I'm not going to get involved, and so I'm out.
0:52:48 > 0:52:54It's a tough business to make money.
0:52:54 > 0:52:58There's lots of businesses out there that do something like this.
0:52:58 > 0:53:04But I haven't found anyone that has made a success of a model
0:53:04 > 0:53:09like this that can be sustainable and generate income.
0:53:09 > 0:53:12So, sometimes life is about risk.
0:53:17 > 0:53:21I think it's one of those things where I'd quite like the challenge
0:53:21 > 0:53:24of seeing whether this could become a business
0:53:24 > 0:53:27that could generate income.
0:53:27 > 0:53:30As a result of that, it's a risk factor for me
0:53:30 > 0:53:33and I'm going to need a pretty decent return.
0:53:33 > 0:53:37So I'm going to offer you £100,000.
0:53:39 > 0:53:41But I want 40% of your business.
0:53:45 > 0:53:49A dramatic change of fortune for the fledgling entrepreneur,
0:53:49 > 0:53:54but at some cost, four times what she initially intended to give away.
0:53:54 > 0:53:57And only one rival Dragon remains.
0:54:01 > 0:54:03- Are you still practicing law?- No.
0:54:03 > 0:54:05Why did you come out of it?
0:54:05 > 0:54:09I come from an entrepreneurial family.
0:54:09 > 0:54:12My father was a big entrepreneur,
0:54:12 > 0:54:15and I've always been passionate about business
0:54:15 > 0:54:18and I just saw a solution and I thought,
0:54:18 > 0:54:25"I want to do this" and I'm fortunate to have a family who backs me.
0:54:25 > 0:54:27What does your father... What did your father...
0:54:29 > 0:54:30My father.
0:54:30 > 0:54:36My father was a very, very successful entrepreneur
0:54:36 > 0:54:39and philanthropist in Africa,
0:54:39 > 0:54:44and he was very passionate about democracy,
0:54:44 > 0:54:47and at the time in Nigeria there was a military dictatorship
0:54:47 > 0:54:50and he fought against that.
0:54:50 > 0:54:58He was detained when I was 12. My family were terrorised.
0:54:58 > 0:55:00They shut down a lot of his businesses.
0:55:00 > 0:55:04We lost effectively everything and my mother had to look after me
0:55:04 > 0:55:08and six of us by herself.
0:55:08 > 0:55:12We had a really, really, really difficult time.
0:55:12 > 0:55:17When I was 16, we thought that they would release him
0:55:17 > 0:55:21and they wouldn't hurt him, but he died.
0:55:22 > 0:55:24Sorry.
0:55:28 > 0:55:31I knew something had happened when you was younger,
0:55:31 > 0:55:33cos something has driven you, hasn't it?
0:55:37 > 0:55:41But he's an inspiration to me. He was really passionate about business.
0:55:41 > 0:55:46The determination when something this difficult happens to you,
0:55:46 > 0:55:48I think it tests your mettle,
0:55:48 > 0:55:55and whatever life has to throw at you now, be it business challenges,
0:55:55 > 0:55:59I know that I've got the stuff that's going to make it happen
0:55:59 > 0:56:04and I know that somewhere my dad's like, "Yeah!" (SHE LAUGHS)
0:56:06 > 0:56:07I'm really impressed with you
0:56:07 > 0:56:12and I think you will go far and fast.
0:56:12 > 0:56:14Thank you.
0:56:14 > 0:56:16I'd like to also make you an offer.
0:56:18 > 0:56:20But all I'm going to do is match Peter's offer.
0:56:20 > 0:56:24OK. Thank you both.
0:56:25 > 0:56:28Can I just have a moment to have a little think?
0:56:46 > 0:56:47Peter.
0:56:47 > 0:56:50If I were to say...
0:56:54 > 0:56:59..that if we met our target...
0:57:00 > 0:57:06..we were to agree a 30% stake...
0:57:09 > 0:57:10Erm...
0:57:12 > 0:57:15I think that's a very good compromise.
0:57:15 > 0:57:18- I'd be more than happy to do that. - Hilary?
0:57:18 > 0:57:22- So would I.- OK.
0:57:26 > 0:57:28I think...
0:57:29 > 0:57:32Peter. I'd like to take you up on your offer.
0:57:32 > 0:57:35Hilary, I'm terribly sorry.
0:57:37 > 0:57:38APPLAUSE
0:57:38 > 0:57:40Dupsy's done it.
0:57:40 > 0:57:44Emotions were running high at the end,
0:57:44 > 0:57:46but she leaves with the offer of the cash she needs
0:57:46 > 0:57:49and an influential multi-millionaire Dragon on board.
0:58:01 > 0:58:03Today it got emotional in the Den
0:58:03 > 0:58:07as Dupsy revealed an extraordinary personal story.
0:58:07 > 0:58:09But it was actually her confident approach
0:58:09 > 0:58:11and passion for her business
0:58:11 > 0:58:15that guaranteed she walked away with the deal and the Dragon she wanted.
0:58:15 > 0:58:20If you'd like to know more about why Peter wanted to invest in Dupsy,
0:58:20 > 0:58:24press the red button now to access exclusive post-Den reaction.
0:58:24 > 0:58:26Goodbye.
0:58:26 > 0:58:29Next week in the Den...
0:58:29 > 0:58:33It must have been a hell of a jolly boy's outing that you lot went on.
0:58:33 > 0:58:36- Do you knew their revenue?- Er... - Do you know their profitability?
0:58:36 > 0:58:39Your knowledge is exceptionally weak.
0:58:39 > 0:58:42I'm sorry. I think this is absolutely ridiculous.
0:58:42 > 0:58:46I disagree entirely with what Peter, Duncan and Theo have said.
0:58:46 > 0:58:49None of us said that, Theo.
0:58:49 > 0:58:52I want more cos I think that I'm worth more.
0:58:55 > 0:58:57Is it just for dogs?
0:59:09 > 0:59:12Subtitles by Red Bee Media Ltd