0:00:02 > 0:00:04Tonight on Dragons' Den...
0:00:07 > 0:00:09You name her the Don.
0:00:09 > 0:00:12- I'm happy.- And then you call Peter Jones the jerk.
0:00:13 > 0:00:16Is that your prediction, that every household in the country
0:00:16 > 0:00:18will own one of those?
0:00:18 > 0:00:21You have now moved into argument mode.
0:00:21 > 0:00:23Take a deep breath and focus on the business.
0:00:25 > 0:00:26You're too niche.
0:00:26 > 0:00:29I think you'll really, really struggle, if I'm being honest.
0:00:30 > 0:00:32Oh, yes! Oh, yes!
0:00:32 > 0:00:33Now we're talking!
0:00:35 > 0:00:37I'm going to make you an offer.
0:01:10 > 0:01:15Welcome to Dragons' Den, a place of aspiration and perspiration,
0:01:15 > 0:01:18where entrepreneurs with big business dreams
0:01:18 > 0:01:22meet our wealthy investors who have big cash to invest.
0:01:25 > 0:01:29First into the Den is Leeds-based Danny Savage,
0:01:29 > 0:01:32an entrepreneur who has a point to prove.
0:01:33 > 0:01:37When I was younger, my headteachers would always either say,
0:01:37 > 0:01:40"You're going to be a millionaire or you're going to end up in jail!"
0:01:40 > 0:01:42That spurs me on to make myself something.
0:01:44 > 0:01:47I'm hoping the Dragons will see my flair and my creative side
0:01:47 > 0:01:50and my drive and determination to succeed.
0:01:50 > 0:01:53Others stand to benefit from an investment today.
0:01:54 > 0:01:58Watching in the wings are his dad Peter, and sales manager James.
0:02:00 > 0:02:01Do your best, Danny.
0:02:02 > 0:02:05I think he'll do really, really well.
0:02:05 > 0:02:10And I think he's investable and I think they'll like working with him.
0:02:10 > 0:02:12"My name is Danny Savage."
0:02:12 > 0:02:15To have the investment is going to take us to the next level.
0:02:15 > 0:02:19It's going to be an escalator rather than the stairs or, you know,
0:02:19 > 0:02:21a lift, rather than a ladder.
0:02:21 > 0:02:25But will the Dragons be prepared to speed Danny's financial ascent?
0:02:27 > 0:02:31# I've been sitting in the corner looking round
0:02:31 > 0:02:32# And I've been watching you
0:02:36 > 0:02:38# Undressing you now with my eyes, you look surprised
0:02:38 > 0:02:41# I'm coming home with you... #
0:02:43 > 0:02:45Peter is not happy, is he?
0:02:45 > 0:02:47Probably because he's getting all the smoke in his face!
0:02:50 > 0:02:53Hello, Dragons! My name is Danny Savage.
0:02:53 > 0:02:59I'm here for £80,000 for a 20% share in Igloo Disco.
0:03:00 > 0:03:05I'd like us to close our eyes and try and replay
0:03:05 > 0:03:09your most memorable party experience. Off you go!
0:03:12 > 0:03:14Time is up.
0:03:14 > 0:03:19My most memorable party experience, I was dressed as a cavalier,
0:03:19 > 0:03:22covered head to toe in mud,
0:03:22 > 0:03:26DJ-ing to 2,000 soaking revellers at Glastonbury Festival
0:03:26 > 0:03:28from an ice cream van.
0:03:28 > 0:03:32It was at this moment I realised that in my ten years of being
0:03:32 > 0:03:37an award-winning club promoter, DJ and event manager,
0:03:37 > 0:03:40that creating amazing party experiences
0:03:40 > 0:03:41is what I was born to do.
0:03:41 > 0:03:44Shortly after, Igloo Disco was born.
0:03:44 > 0:03:47We are now a market leader in unique pop-up events,
0:03:47 > 0:03:49saving our clients time,
0:03:49 > 0:03:54money and stress when planning and delivering parties
0:03:54 > 0:03:56with a unique memorable twist.
0:03:56 > 0:03:5925% of our bookings over the last two years
0:03:59 > 0:04:02have been 18th birthday parties.
0:04:02 > 0:04:06This market is worth £750 million.
0:04:06 > 0:04:09If we were to target just 1% of this niche market,
0:04:09 > 0:04:13this would generate revenue of £1 million.
0:04:13 > 0:04:16Igloo Disco is a family business.
0:04:16 > 0:04:20In our first year, we turned over £80,000,
0:04:20 > 0:04:23with a net profit of £31,000.
0:04:23 > 0:04:28In year two, we turned over £208,000,
0:04:28 > 0:04:31with a net profit of £3,000.
0:04:31 > 0:04:32With the right Dragons investment,
0:04:32 > 0:04:36we plan to strengthen our core operations
0:04:36 > 0:04:40and expand into an ever-growing market. Thank you for your time.
0:04:40 > 0:04:44I'd like to invite you to come up and have a dance, if you like!
0:04:44 > 0:04:46DANCE MUSIC PLAYS
0:04:46 > 0:04:50A cool pitch from igloo entrepreneur Danny Savage.
0:04:50 > 0:04:55He hopes to persuade the Dragons to part with £80,000
0:04:55 > 0:04:59in return for a 20% share of his pop-up party package.
0:04:59 > 0:05:01Is this an igloo for ten-year-olds?
0:05:01 > 0:05:03- For normal-sized people, Peter.- Oh.
0:05:03 > 0:05:05I don't think this would work for me.
0:05:05 > 0:05:06No.
0:05:06 > 0:05:11It may not be tech giant Peter Jones's natural environment,
0:05:11 > 0:05:14but will the rest of the Den dance to Danny's tune?
0:05:14 > 0:05:16Thanks, Luke.
0:05:16 > 0:05:20- He's great.- Deborah Meaden takes the lead with the questions.
0:05:25 > 0:05:28I think you might have been hoping for dancing Dragons.
0:05:28 > 0:05:30But there's not an awful lot...
0:05:30 > 0:05:32Not a lot of space in that particular one for dancing.
0:05:32 > 0:05:35Yeah, this is a scaled-down version of what we do.
0:05:35 > 0:05:36I gather, cos I can see from the picture,
0:05:36 > 0:05:38you can have much bigger ones.
0:05:38 > 0:05:39So, just so I understand the business,
0:05:39 > 0:05:41because actually when I first saw it,
0:05:41 > 0:05:43I thought it was going to be the structure
0:05:43 > 0:05:44that you were talking about,
0:05:44 > 0:05:46but, actually, you're an event business?
0:05:46 > 0:05:48- Yeah.- Yeah?- With unique structures.
0:05:48 > 0:05:50There's not many people who have these igloos.
0:05:50 > 0:05:51We've found three in the UK.
0:05:53 > 0:05:57We've turned this into a nationwide business.
0:05:57 > 0:05:59We have six different structures.
0:05:59 > 0:06:01It's... One of our main selling points
0:06:01 > 0:06:03is the whole package we provide.
0:06:03 > 0:06:06It's like a pop-up nightclub for your back garden.
0:06:06 > 0:06:07Right. One-stop shop.
0:06:07 > 0:06:08- Yeah.- "You pay us that much money."
0:06:08 > 0:06:10How much money is that much money?
0:06:10 > 0:06:13Our average job price is £2,500.
0:06:13 > 0:06:18- OK.- Our biggest structure is £3,295 package.
0:06:18 > 0:06:21In the large one, it holds up to 350 people in the 60 metres.
0:06:21 > 0:06:23Oh, my goodness! That's good value.
0:06:23 > 0:06:24£3,295.
0:06:24 > 0:06:27Much lower cost than your average marquee hire-type thing, isn't it?
0:06:27 > 0:06:29Exactly, yeah.
0:06:30 > 0:06:33A positive start for the party entrepreneur...
0:06:35 > 0:06:36- She likes it.- She loves it.
0:06:36 > 0:06:40..as leisure industry supremo Deborah Meaden appears impressed
0:06:40 > 0:06:42with his competitive price list.
0:06:44 > 0:06:45Come on, Debbie!
0:06:45 > 0:06:48Global restaurateur Sarah Willingham
0:06:48 > 0:06:51has made millions showing people a good time.
0:06:51 > 0:06:54Will she be equally impressed by his igloo offering?
0:06:57 > 0:06:59I think one of my most memorable party experiences
0:06:59 > 0:07:01was actually in an igloo,
0:07:01 > 0:07:03although I don't remember that much about it in the end.
0:07:03 > 0:07:06But, no, I mean, it's a great concept because actually...
0:07:06 > 0:07:09It's got the wow factor. When people walk in, there are blown away,
0:07:09 > 0:07:12so it's for people that want to impress their guests.
0:07:12 > 0:07:13How do people find you?
0:07:13 > 0:07:16We've got about 20,000 followers on Facebook.
0:07:16 > 0:07:18We advertise in various different places.
0:07:18 > 0:07:20Google ads, Instagram ads.
0:07:20 > 0:07:24- We're everywhere.- Like, what have you had to spend to get revenue?
0:07:24 > 0:07:28We spend about 1,500 quid a month on advertising.
0:07:28 > 0:07:31If you spend £1,500 in a month...
0:07:31 > 0:07:35- Yeah.- ..what will that result in in turnover?
0:07:35 > 0:07:3620-25 grand.
0:07:36 > 0:07:38So why don't you spend more money on that?
0:07:38 > 0:07:41I mean, there's your £1 million turnover right there.
0:07:43 > 0:07:46The reason we've not invested this in the advertising spend so far
0:07:46 > 0:07:49is because last year was just me, and I'm not a trained marketer.
0:07:50 > 0:07:52It were like we were wasting money.
0:07:52 > 0:07:54This year, I've brought the right team in
0:07:54 > 0:07:55and we've targeted our adverts
0:07:55 > 0:07:57to different audiences and demographics.
0:07:57 > 0:07:59We know what works now.
0:08:00 > 0:08:04Danny continues to work the room as he reveals a good return
0:08:04 > 0:08:06on his social media marketing strategy.
0:08:08 > 0:08:12But tech tycoon Peter Jones isn't in a partying mood.
0:08:14 > 0:08:17I'm assuming that if I wanted to go and hire an inflatable igloo,
0:08:17 > 0:08:19I could do that tomorrow on my own, couldn't I?
0:08:19 > 0:08:20Yeah. Well, yeah.
0:08:20 > 0:08:24So what have you got that is different to the hundreds
0:08:24 > 0:08:26of event companies out there?
0:08:26 > 0:08:28You've got my knowledge of the events industry.
0:08:28 > 0:08:33I've been a consumer, I've been a booker in the venues,
0:08:33 > 0:08:36I've been a DJ, I've been a festival organiser.
0:08:36 > 0:08:39I've been on every angle of this business.
0:08:39 > 0:08:41We've been doing it two years now,
0:08:41 > 0:08:45and no-one's stepped into the market and succeeded at all.
0:08:45 > 0:08:46Yeah, but with respect, Danny,
0:08:46 > 0:08:49you could argue that you haven't succeeded.
0:08:53 > 0:08:57- You've made literally £3,000 in the last 12 months.- Yep.
0:08:59 > 0:09:01So are you cash positive in the bank?
0:09:01 > 0:09:04At the moment, we've got about 5-10 grand.
0:09:04 > 0:09:07- Any loans?- The only debts we have are from my dad,
0:09:07 > 0:09:09who lent us 25 grand.
0:09:10 > 0:09:12And I owe myself eight grand.
0:09:12 > 0:09:14So you owe 33,000?
0:09:14 > 0:09:18Right, OK, well, I believe we're on the cusp of a change.
0:09:18 > 0:09:22We dropped a 20 grand deal yesterday for a nationwide company
0:09:22 > 0:09:25to host a festival for 800 of their workforce, so this month,
0:09:25 > 0:09:27we're looking at 40-50 grand turnover.
0:09:27 > 0:09:29But you haven't made any money yet.
0:09:31 > 0:09:33You haven't really proved that you...
0:09:33 > 0:09:34you make money doing this.
0:09:37 > 0:09:40The entrepreneur fails to convince Peter Jones
0:09:40 > 0:09:43that he can make a profit in the pop-up business.
0:09:44 > 0:09:48And now, Touker Suleyman wants to take him to task over his cash flow.
0:09:50 > 0:09:53You just mentioned that you've got £5,000 in the bank.
0:09:53 > 0:09:59- Yeah.- But surely, if you're taking lots of reservations in advance,
0:09:59 > 0:10:02they're giving you money to hold as a deposit?
0:10:02 > 0:10:05- Yeah.- How many events have you got lined up for the next 12 months?
0:10:05 > 0:10:06Erm...
0:10:06 > 0:10:07about 30.
0:10:07 > 0:10:1130. So, really, if it was a £2,000 event...
0:10:11 > 0:10:17- Yeah.- ..you should have £30,000 in the bank put to one side, correct?
0:10:17 > 0:10:22Where's the money they've paid you, is where I want to get to.
0:10:22 > 0:10:25The marketing, our sales manager's on a sliding percentage scale
0:10:25 > 0:10:27- of the deal.- Right.
0:10:27 > 0:10:31The cost for us to acquire each sale works out at roughly 50%.
0:10:31 > 0:10:34So the guy that's booked Christmas already,
0:10:34 > 0:10:36you've spent half his money.
0:10:36 > 0:10:37Yes.
0:10:37 > 0:10:39That's... That's the cost of our sales.
0:10:39 > 0:10:41Well, you should be... No, I'm just concerned
0:10:41 > 0:10:45that a business that should be cash positive is not.
0:10:45 > 0:10:46Yeah.
0:10:46 > 0:10:48It's like, if you have one problem,
0:10:48 > 0:10:52or you have one bill which is out of the ordinary for five, ten grand,
0:10:52 > 0:10:54you won't have any money to continue.
0:10:54 > 0:10:56We... We don't get bills of five, ten grand.
0:10:58 > 0:11:00I think Touker raised a brilliant point, actually.
0:11:00 > 0:11:04Because you... You should be finding ways now
0:11:04 > 0:11:07of utilising that deposit that you get paid upfront
0:11:07 > 0:11:09to fund this business as you grow it going forward.
0:11:09 > 0:11:12- Yeah.- And I think you'll have a nice living from it.
0:11:12 > 0:11:15Your expertise of knowing what's required I think is really useful.
0:11:15 > 0:11:16Yeah.
0:11:18 > 0:11:21But as an investor, I think it's quite a small opportunity.
0:11:21 > 0:11:24- OK.- But as a business, I think you'll do very well on your own.
0:11:24 > 0:11:26So I wish you the best of luck, but I'm out.
0:11:26 > 0:11:27Thank you.
0:11:30 > 0:11:31- He's out.- Other event companies...
0:11:31 > 0:11:33We never wanted you anyway, you lanky beanstalk.
0:11:38 > 0:11:41Danny, I'm a little concerned that you haven't yet demonstrated
0:11:41 > 0:11:43that you know how to make money.
0:11:43 > 0:11:45In fact, you've probably done the opposite.
0:11:45 > 0:11:47You've kind of said, "Look, I can generate revenue,
0:11:47 > 0:11:50- "but I'm not sure how that drops to the bottom line."- Yeah.
0:11:54 > 0:11:55It's not... It's not...
0:11:55 > 0:11:58For me, I don't see it as an investment.
0:11:58 > 0:11:59- Thank you.- I'm out. - Thank you very much.
0:12:02 > 0:12:07Two Dragons down in quick succession as Deborah Meaden joins Peter Jones
0:12:07 > 0:12:09in declining a deal.
0:12:10 > 0:12:13Will Nick Jenkins dig a disco investment?
0:12:18 > 0:12:22These things are really cool and I'm actually genuinely surprised
0:12:22 > 0:12:25at how cheap they are for such a large venue,
0:12:25 > 0:12:27cos otherwise compared with a marquee cost,
0:12:27 > 0:12:29it's really cost-effective.
0:12:30 > 0:12:32But they're not yours.
0:12:32 > 0:12:34I mean, you don't own them. They're...
0:12:34 > 0:12:37They're available, they're out there in the market.
0:12:37 > 0:12:39And in that sector, and I know a little bit about it,
0:12:39 > 0:12:42every once in a while, things like the stretch tents come out
0:12:42 > 0:12:44so a couple of people start doing stretch tents.
0:12:44 > 0:12:47The tipis come out and everyone starts doing tipis.
0:12:47 > 0:12:51So they tend to go in waves, but then, when they're popular,
0:12:51 > 0:12:52everybody just buys them.
0:12:52 > 0:12:56So there is nothing that you own in this that's particularly special.
0:12:56 > 0:12:58- I can't invest in it, so I'm out. - Thank you.
0:12:59 > 0:13:00Oh, come on, mate.
0:13:01 > 0:13:06Another Dragon turned party pooper as the pop-up disco idea
0:13:06 > 0:13:09failed to win over Nick Jenkins.
0:13:09 > 0:13:11Which way will Touker Suleyman go?
0:13:15 > 0:13:17- Danny...- Hi.
0:13:17 > 0:13:19..you are the Danny Show.
0:13:19 > 0:13:23As far as I'm concerned, I can't see it being the Danny-Touker Show.
0:13:23 > 0:13:26You know? I think it is a niche business.
0:13:27 > 0:13:31I can't really see how much value I can add.
0:13:31 > 0:13:34I've had my days in discos, I've had a lot of fun.
0:13:35 > 0:13:38And I think I want to leave that to you.
0:13:38 > 0:13:40- I don't think it's an investment for me.- OK.- And I'm out.
0:13:43 > 0:13:47A fourth rejection leaves only Sarah Willingham still in.
0:13:48 > 0:13:52Will she offer Danny the capital he's come here to secure?
0:13:54 > 0:13:55I think you've done brilliantly.
0:13:57 > 0:13:59I love the fact that you're hiring your family,
0:13:59 > 0:14:01I love the fact that you've taken your passion and your hobby
0:14:01 > 0:14:04- and you're making a business out of it.- Yep.
0:14:08 > 0:14:12I think where you are at the moment, it's a very difficult phase.
0:14:12 > 0:14:18It's kind of turning it from a hobby and a concept
0:14:18 > 0:14:21and you're right at that phase where you are now turning it
0:14:21 > 0:14:23into a business and then there's another phase afterwards
0:14:23 > 0:14:27where you can then turn it into an investment opportunity.
0:14:27 > 0:14:29And, actually, that comes probably
0:14:29 > 0:14:32when you're three or four times the size that you are
0:14:32 > 0:14:34and you've actually got a model
0:14:34 > 0:14:37that you're properly starting to roll out.
0:14:37 > 0:14:40So it's not an investment opportunity for me,
0:14:40 > 0:14:43but good luck. But I'm out.
0:14:43 > 0:14:45Thank you. I'd just like to thank you all for your time.
0:14:45 > 0:14:47- Good luck, Danny.- Good luck.
0:14:48 > 0:14:51So, the party's over in the Den at least
0:14:51 > 0:14:56as the prospect of investing in Danny's Igloo Events company
0:14:56 > 0:14:58leaves the Dragons cold.
0:14:58 > 0:15:00I don't need any motivation to keep going.
0:15:00 > 0:15:01I'll always keep going.
0:15:02 > 0:15:03It's just what I do.
0:15:03 > 0:15:06- All right?- Well done.
0:15:06 > 0:15:09- You smashed that, though, mate.- Oh, yeah.- You absolutely smashed that.
0:15:09 > 0:15:10'I've done every aspect of it.'
0:15:10 > 0:15:12I live and breathe it. If you can find me another me,
0:15:12 > 0:15:14I'll invest in him myself.
0:15:23 > 0:15:27Next up tonight are best friends and business partners
0:15:27 > 0:15:29Jane Yates and Katie McDermott.
0:15:33 > 0:15:35- Love you.- Love you too.
0:15:35 > 0:15:39When the lift doors open and we see the Dragons there,
0:15:39 > 0:15:41the first thing I think will be -
0:15:41 > 0:15:43walk in a straight line and don't fall over.
0:15:43 > 0:15:44Breathe!
0:15:46 > 0:15:48- And...- Don't shout out any of their names.
0:15:48 > 0:15:50Like, "Hi, Deborah! Oh, my God!"
0:15:50 > 0:15:51Cos that might happen.
0:15:59 > 0:16:00Hello, Dragons.
0:16:00 > 0:16:04We're Katie and Jane and we're here today to seek investment
0:16:04 > 0:16:07in our meat-free, fast food company Not Dogs,
0:16:07 > 0:16:09meaty dogs without the meat.
0:16:09 > 0:16:14The meat-free market is valued at £785 million a year
0:16:14 > 0:16:19and 40% of the UK population are committed meat reducers,
0:16:19 > 0:16:21vegetarians and vegans,
0:16:21 > 0:16:24who say that the number one issue with a meat-free diet
0:16:24 > 0:16:28- is lack of commercial choice. - Not Dogs is created by us,
0:16:28 > 0:16:31one vegetarian and one meat reducer,
0:16:31 > 0:16:34who felt frustrated by the lack of trustworthy meaty meals
0:16:34 > 0:16:37and satisfying vegetarian food while out and about.
0:16:37 > 0:16:39Over the past 18 months,
0:16:39 > 0:16:42we've transformed Not Dogs into an award-winning brand,
0:16:42 > 0:16:44travelling up and down the UK to music festivals
0:16:44 > 0:16:46in our little purple food truck.
0:16:46 > 0:16:49We've served up over 10,000 Not Dogs,
0:16:49 > 0:16:53turning over an average of £2,000 in sales revenue per day.
0:16:53 > 0:16:56We have built up a tribe of fans online
0:16:56 > 0:16:59and we've also been invited to Downing Street,
0:16:59 > 0:17:01where we were crowned one of the UK's food stars.
0:17:01 > 0:17:04We have cultivated an exclusive relationship
0:17:04 > 0:17:07with the world's most successful meat-free company, Quorn.
0:17:07 > 0:17:11The Quorn bratwurst that we use to create our Not Dogs
0:17:11 > 0:17:14is exclusive to us in the UK. This year,
0:17:14 > 0:17:17we will launch the first meat-free fast casual restaurant,
0:17:17 > 0:17:20enabling the 28 million meat reducers,
0:17:20 > 0:17:25vegetarians and vegans to get their fast food fix.
0:17:25 > 0:17:28Our first restaurant location will be within the iconic Bullring
0:17:28 > 0:17:32in Birmingham, which welcomes 40 million annual visitors
0:17:32 > 0:17:35and our new home will have direct footfall
0:17:35 > 0:17:37of 130,000 people per week.
0:17:37 > 0:17:41We're here today to seek investment of £75,000
0:17:41 > 0:17:45in return for a 15% share in our proven concept.
0:17:45 > 0:17:46We welcome your questions,
0:17:46 > 0:17:49but first we'd love for you to try your first Not Dog.
0:17:51 > 0:17:55A pitch delivered with relish by business partners
0:17:55 > 0:17:57Jane Yates and Katie McDermott.
0:17:57 > 0:17:58That's for you.
0:17:58 > 0:18:00- Oh, wow.- It's a big one.
0:18:00 > 0:18:05They want the Dragons to serve up £75,000 in exchange for 15%
0:18:05 > 0:18:08of their vegetarian fast food business.
0:18:08 > 0:18:10Is that really eight inches?
0:18:10 > 0:18:13Promise you. We've actually measured it.
0:18:13 > 0:18:15Might have exaggerated it by a tiny bit.
0:18:20 > 0:18:24But will their offering prove a meaty enough investment opportunity?
0:18:25 > 0:18:29First, though, Peter Jones has a bone to pick with the Not Dog duo.
0:18:32 > 0:18:33I'm quite offended.
0:18:36 > 0:18:39You named Deborah after and call her the Don.
0:18:39 > 0:18:43- I'm happy.- You do Touker as the ticklish Turkish jokey guy.
0:18:43 > 0:18:46- Yep.- And then you do, ooh, secret saucy little Sarah.
0:18:46 > 0:18:48- Yeah.- And that's all lovely. And the Russian rebel, which is Nick.
0:18:48 > 0:18:51Then you call Peter Jones the jerk.
0:18:51 > 0:18:52- No!- What's that all about?
0:18:52 > 0:18:55I think you know what that's a nod towards.
0:18:55 > 0:18:57- No.- Reggae Reggae?
0:18:57 > 0:18:59- A business that you might have... - Jerk sauce?
0:18:59 > 0:19:01- ALL:- Oh!
0:19:01 > 0:19:02Which would be found in the topping.
0:19:02 > 0:19:05- DEBORAH:- See?- You can give puns, but you can't take them.
0:19:05 > 0:19:07- PETER:- Oh.
0:19:08 > 0:19:12The entrepreneurs successfully placate Jerkin' Jones,
0:19:12 > 0:19:14but the Dragons never stay tame for long
0:19:14 > 0:19:18and Nick Jenkins is finding their market research hard to follow.
0:19:23 > 0:19:26You said there are 28 million veggies or meat reducers.
0:19:26 > 0:19:28- Yes.- Would you like to back that up?
0:19:28 > 0:19:33The meat reducing trend, so people that maybe have one day a week,
0:19:33 > 0:19:37meat-free Mondays, and they don't include meat for that day,
0:19:37 > 0:19:42or like Katie, reduces it as much as possible a few times a week,
0:19:42 > 0:19:46they are rising and that is why the figures are so high.
0:19:46 > 0:19:50There is a lot of people that do not trust processed meat
0:19:50 > 0:19:53and that is our key customer and that's what we class
0:19:53 > 0:19:55as the meat reducing market.
0:19:55 > 0:19:57Focusing in on this market...
0:19:57 > 0:20:02- Yeah.- ..how many vegetarians are there as opposed to meat reducers?
0:20:02 > 0:20:0412% of the population.
0:20:05 > 0:20:08Are you worried a little bit if you open up an outlet
0:20:08 > 0:20:12that just does vegetarian food, you're actually excluding...
0:20:14 > 0:20:15..88% of the population?
0:20:17 > 0:20:21We've actually found in our trading experience, so far,
0:20:21 > 0:20:23that a third of our customers are actually meat eaters
0:20:23 > 0:20:27and Not Dogs is a place that me and Jane could go
0:20:27 > 0:20:30and have a quick, fast food fix together.
0:20:30 > 0:20:33She doesn't have to worry about anything to do with animal products
0:20:33 > 0:20:36and I feel that there's absolutely no difference between a meat hot dog
0:20:36 > 0:20:38and our Not Dog.
0:20:39 > 0:20:42Can I say that tastes really good?
0:20:42 > 0:20:44- Thank you. - So what's your credentials?
0:20:44 > 0:20:48Because, actually, you know what, what makes any restaurant,
0:20:48 > 0:20:52any fast food service, any of that work is the people, that's it.
0:20:52 > 0:20:54So what are your credentials?
0:20:54 > 0:20:56Well, we first met each other five years ago,
0:20:56 > 0:20:59both leading PR and social media departments
0:20:59 > 0:21:01at an advertising agency.
0:21:01 > 0:21:05But we always had this idea for vegetarian fast food.
0:21:05 > 0:21:10We have spent 18 months in our food truck, just the two of us,
0:21:10 > 0:21:12all over the country,
0:21:12 > 0:21:15taking that food truck to every single muddy field there is
0:21:15 > 0:21:16and worked 18 hours a day,
0:21:16 > 0:21:19serving up those Not Dogs absolutely relentlessly.
0:21:19 > 0:21:23We then saw the opportunity for an actual three-month pop-up
0:21:23 > 0:21:26in a shop just near the Shard in London.
0:21:26 > 0:21:29That three-month experience gave us great understanding
0:21:29 > 0:21:31of how hard it is to run a restaurant
0:21:31 > 0:21:33and that's...really, we've done it.
0:21:35 > 0:21:37An impressive work ethic
0:21:37 > 0:21:40and a confident account of their experience so far.
0:21:40 > 0:21:44But will it be enough to win over global restaurant guru
0:21:44 > 0:21:46Sarah Willingham?
0:21:46 > 0:21:50I've done lots of festivals, both restaurants and bars.
0:21:52 > 0:21:55And it's very, very, very, very different than running a restaurant.
0:21:56 > 0:22:00Actually, the reality is, you have got such a...
0:22:00 > 0:22:02not just a captive audience, you've got a captive audience
0:22:02 > 0:22:04with a very, very, very limited choice.
0:22:05 > 0:22:07Turnover's high.
0:22:07 > 0:22:10I imagine profit was low.
0:22:10 > 0:22:12Very low. If at all?
0:22:12 > 0:22:13Every time we made a profit...
0:22:13 > 0:22:18- Very good.- ..and where we took the 2,000 consistently every day,
0:22:18 > 0:22:21we would take 6,000 in total for the weekend
0:22:21 > 0:22:26- and 2,000 of that would be profit. - Is that including paying yourselves?
0:22:26 > 0:22:27No.
0:22:27 > 0:22:30OK. So, you know, break even, basically.
0:22:30 > 0:22:33- Yeah.- So now you move that into the Bullring.
0:22:33 > 0:22:35- Yeah.- Who are you next to?
0:22:35 > 0:22:38We are literally very close to the food hall.
0:22:38 > 0:22:41- But you're not in the food hall?- No.
0:22:41 > 0:22:42If you're not near the food,
0:22:42 > 0:22:44that's actually a problem for your offering.
0:22:44 > 0:22:47You need to be surrounded by other food offers.
0:22:50 > 0:22:53Not quite the reaction Katie and Jane were hoping for,
0:22:53 > 0:22:56as Sarah Willingham dishes out a reality check
0:22:56 > 0:23:00over their plans to expand into shopping centres.
0:23:00 > 0:23:04And it's given fashion magnet Touker Suleyman food for thought.
0:23:07 > 0:23:09- Food is not my forte.- Mm-hm.
0:23:10 > 0:23:14I wish you'd come with something that I had a synergy with
0:23:14 > 0:23:17because I think the pair of you are fantastic.
0:23:17 > 0:23:19I don't believe that I can add value to you.
0:23:19 > 0:23:22- OK.- For that reason, I'm out.
0:23:22 > 0:23:24Thank you, Touker.
0:23:25 > 0:23:29Praise for the entrepreneurs, but a deal still dismissed.
0:23:31 > 0:23:34Can the man who turned Moonpig into a household name
0:23:34 > 0:23:38see the money-spinning potential in the Not Dog brand?
0:23:41 > 0:23:43Eating this reminds me a little bit of snails.
0:23:44 > 0:23:47And I say that because I used to think that I really liked snails
0:23:47 > 0:23:50and, actually, what I realise is I love garlic butter.
0:23:50 > 0:23:52And I was eating that thinking it was really, really tasty
0:23:52 > 0:23:55and what I really like is cheese sauce and grilled onions.
0:23:56 > 0:23:59You're brilliant on the sauces, absolutely fantastic.
0:23:59 > 0:24:02And I think... I can see why it works at festivals
0:24:02 > 0:24:04because you've got something for everybody there,
0:24:04 > 0:24:07you're all mingling in a field and it's all open-air eating,
0:24:07 > 0:24:08you can get whatever you want.
0:24:08 > 0:24:11I just don't see it working as a stand-alone place
0:24:11 > 0:24:14where you have to walk in through the door and go in and sit down.
0:24:16 > 0:24:19- I can't invest, I'm out.- Thank you.
0:24:20 > 0:24:24I think you're up against a really big challenge by really focusing on
0:24:24 > 0:24:28this product as opposed to having this within a range.
0:24:30 > 0:24:34This is tough if you go one specific product...
0:24:34 > 0:24:38We do have the Boston burger, the Bali breakfast dog,
0:24:38 > 0:24:40we have a breakfast muffin as well
0:24:40 > 0:24:43and we've expanded the range to include meat-free chicken nuggets
0:24:43 > 0:24:44and waffle fries.
0:24:44 > 0:24:47So we see these products but coming under the Not Dogs brand
0:24:47 > 0:24:49because that's the brand that people talk about.
0:24:52 > 0:24:54I think because also I'm a meat-eater,
0:24:54 > 0:24:56it's a hard one to get over the line with me.
0:24:59 > 0:25:00I'm not buying your business.
0:25:00 > 0:25:02- OK.- I'm sorry. I'm going to say that I'm out.
0:25:02 > 0:25:04- Understandable.- Thanks, Peter. - Thank you.
0:25:06 > 0:25:10A carnivorous Peter Jones lets his taste buds do the talking
0:25:10 > 0:25:12and also walks away from a deal.
0:25:13 > 0:25:15Sarah Willingham has been sceptical
0:25:15 > 0:25:17of the entrepreneurs' expansion plans.
0:25:19 > 0:25:23But has Katie and Jane's dogged determination to succeed
0:25:23 > 0:25:24won her round?
0:25:28 > 0:25:32I love restaurants that do what they say on the tin.
0:25:32 > 0:25:34This is...
0:25:34 > 0:25:36I am an expert in this field.
0:25:36 > 0:25:38You come to me because this is what...
0:25:38 > 0:25:42You might be brilliant Indian, you might be brilliant Middle Eastern,
0:25:42 > 0:25:44so I do like the specificness of it.
0:25:45 > 0:25:47But you're too niche.
0:25:47 > 0:25:50I think you'll really, really struggle, if I'm being honest.
0:25:50 > 0:25:52I really do think it's quite high-risk.
0:25:53 > 0:25:55And I can't invest in it.
0:25:57 > 0:25:59- I'm out.- Thank you.- Thanks, Sarah.
0:26:02 > 0:26:04Four Dragons out.
0:26:04 > 0:26:07Only Deborah Meaden remains.
0:26:07 > 0:26:11Will the Dragon who regularly goes meat-free be the one to see value
0:26:11 > 0:26:14in the vegetarian fast food concept?
0:26:17 > 0:26:18I like the idea.
0:26:20 > 0:26:21I like the people.
0:26:22 > 0:26:23Um...
0:26:25 > 0:26:26..but I don't like the business.
0:26:28 > 0:26:31I've had restaurants, I've had bars,
0:26:31 > 0:26:34but it's not an area that I'm dying to get back into,
0:26:34 > 0:26:36so it would have to be a compelling reason.
0:26:39 > 0:26:42I wish you all the best of luck, but I'm afraid I won't be investing.
0:26:42 > 0:26:43I'm out.
0:26:45 > 0:26:47- Good luck.- Thank you. - Thank you very much.
0:26:48 > 0:26:51So no dosh for Not Dogs,
0:26:51 > 0:26:54but a new nickname one Dragon will never forget.
0:26:54 > 0:26:56Don't cry, don't cry.
0:27:01 > 0:27:03- I'm not happy.- Look at his face.
0:27:03 > 0:27:06She gives me a card and it says The Jerkin' Jones as well.
0:27:07 > 0:27:11We noticed straightaway when Peter saw his Jerkin' Jones dog
0:27:11 > 0:27:13and we're quite surprised, actually,
0:27:13 > 0:27:15that he didn't realise what we'd done.
0:27:15 > 0:27:18Maybe it was a bit too clever, I don't know.
0:27:18 > 0:27:19Next.
0:27:29 > 0:27:33Hoping to have more success securing Dragon capital
0:27:33 > 0:27:37were husband and wife duo Anna and Rowan Byrne from London.
0:27:37 > 0:27:39Bring the core to the floor!
0:27:40 > 0:27:41Shake it up.
0:27:43 > 0:27:45And down.
0:27:45 > 0:27:47The hula-hooping hopefuls
0:27:47 > 0:27:52were offering 15% equity in exchange for an £80,000 investment...
0:27:52 > 0:27:54Bring it down and hula, ladies.
0:27:54 > 0:27:59..to help turn their dance class company into a national franchise.
0:27:59 > 0:28:01As you can see, HulaFit is a seriously fun
0:28:01 > 0:28:03and high energy hula-hoop fitness class.
0:28:03 > 0:28:06We give an all-body workout using weighted hoops
0:28:06 > 0:28:08that will not only strengthen and tone your core,
0:28:08 > 0:28:12but will leave you sweating, smiling and wanting more.
0:28:12 > 0:28:16Deborah Meaden was more than happy to give the workout a road test.
0:28:16 > 0:28:18- Whoa!- Hey!
0:28:18 > 0:28:20Whoa! OK, that's it.
0:28:20 > 0:28:22I can't stop.
0:28:23 > 0:28:25Oh, there we go.
0:28:25 > 0:28:27SHE EXCLAIMS
0:28:29 > 0:28:32- Very good, well done. - That was very impressive.
0:28:32 > 0:28:34Now you know what I do in my spare time.
0:28:34 > 0:28:37Plenty of enthusiasm, but not from Peter Jones.
0:28:37 > 0:28:41Excitement over. "Is it a business?" is going through my mind.
0:28:41 > 0:28:43Apart from a bit of branding,
0:28:43 > 0:28:46what are you really doing to create a business that everybody else
0:28:46 > 0:28:49could do anyway just by buying some hula hoops?
0:28:49 > 0:28:51I think what we're bringing to it is our background,
0:28:51 > 0:28:54of fitness and Anna's been teaching hula-hooping for about ten years.
0:28:54 > 0:28:56I perform with fire, mostly.
0:28:56 > 0:28:58- Fire?- Yeah, with fire.
0:28:58 > 0:29:02See, it would have been a lot better if you'd done that.
0:29:02 > 0:29:06Touker Suleyman struggled to get his head around the "hul" idea.
0:29:06 > 0:29:09Is this tried and tested and proven,
0:29:09 > 0:29:11or is it a little dream in your head?
0:29:11 > 0:29:13We haven't trialled it ourselves.
0:29:13 > 0:29:17And was torn over whether the brand was fit for investment.
0:29:18 > 0:29:19I'm not 100% sure.
0:29:21 > 0:29:23Maybe Deborah...
0:29:23 > 0:29:25(I'm Sarah.)
0:29:25 > 0:29:27You're Sarah, of course you're Sarah.
0:29:27 > 0:29:31But there was no mistaking Peter Jones when it fell to him
0:29:31 > 0:29:34to put an end to the entrepreneurs' hoop dreams.
0:29:34 > 0:29:37You've just taken a flyer and just come in and hula-hooped.
0:29:37 > 0:29:40- Right.- And you're going to end up hula-hooping your way out.
0:29:40 > 0:29:43- Good luck, but I'm out. - I won't be investing.
0:29:43 > 0:29:45- I'm out. - I'm out.
0:29:45 > 0:29:46- Thank you.- Cheers.- Bye-bye.
0:29:46 > 0:29:50Not that it stopped Deborah Meaden throwing down the gauntlet
0:29:50 > 0:29:52to the men in the Den.
0:29:52 > 0:29:56Chickens. I can't believe you guys didn't stand up.
0:29:56 > 0:29:58- Come on, boys.- Go on, guys.
0:29:59 > 0:30:01- PETER:- How the hell are you supposed to do that?
0:30:01 > 0:30:03Would you like me to show you, Mr Jones?
0:30:03 > 0:30:05Which part of your thing do you shake?
0:30:05 > 0:30:06My booty.
0:30:07 > 0:30:09Oh, gone and put my back out now!
0:30:09 > 0:30:10- TOUKER:- Oh!
0:30:10 > 0:30:11Oh, yes.
0:30:11 > 0:30:13Oh, yes. Now we're talking.
0:30:13 > 0:30:15Coffee? Anyone got coffee?
0:30:15 > 0:30:19- PETER:- Is it speed?- Oh, oh, oh. - I'm exhausted now.
0:30:24 > 0:30:27Still to come on tonight's show...
0:30:27 > 0:30:30It's a black hole eating money.
0:30:30 > 0:30:31This is quite an important number, isn't it?
0:30:31 > 0:30:34So can you just try and recall it?
0:30:34 > 0:30:36It is a big boy's game.
0:30:36 > 0:30:39Only a few companies can win.
0:30:39 > 0:30:41I want a large piece of the pie.
0:30:48 > 0:30:50To be a successful entrepreneur,
0:30:50 > 0:30:54it is useful to have supreme confidence in your product,
0:30:54 > 0:30:56which is exactly what our next entrepreneur,
0:30:56 > 0:30:59John Nicholls from Ledbury in Herefordshire, has.
0:31:01 > 0:31:03HE CALLS AND WHISTLES TO DOG
0:31:04 > 0:31:07I know the product inside out, so they're not going to fluster me,
0:31:07 > 0:31:11and I know my figures, hopefully rehearsed my figures pretty well.
0:31:11 > 0:31:14For a seemingly well prepared John,
0:31:14 > 0:31:17the fire of the Dragons holds no fear.
0:31:17 > 0:31:19I love people that give me a lot of stick
0:31:19 > 0:31:21because I'm just getting another problem solved.
0:31:21 > 0:31:24Give me half a day and I've thought of the answer.
0:31:26 > 0:31:27But will he have all the answers
0:31:27 > 0:31:29when it comes to the Dragons' questions?
0:31:47 > 0:31:52I'm John Nicholls and I'm looking today for an investment of 45,000
0:31:52 > 0:31:56for 15% of my HandiScoop company.
0:31:56 > 0:31:58So I've got two products. One is this size,
0:31:58 > 0:32:02which we call the easy walking HandiScoop and the long one
0:32:02 > 0:32:06is the easy reach HandiScoop. They're both, basically,
0:32:06 > 0:32:08the best poop scoops in the world.
0:32:08 > 0:32:11For the people that have bought the product,
0:32:11 > 0:32:14they would never go back to a traditional method
0:32:14 > 0:32:15of what they're using to pick up poop.
0:32:16 > 0:32:21The reason the scoop is so unique, it has a bagging system.
0:32:21 > 0:32:24It just goes over the top and it's actually sealing the smell
0:32:24 > 0:32:26and I'm picking up and it's actually put now
0:32:26 > 0:32:28the three carrots all in the same bag.
0:32:28 > 0:32:31So not only is it much more easy to use, much quicker,
0:32:31 > 0:32:37than a conventional method, it actually is saving lots of bags.
0:32:37 > 0:32:40It works on good poop and bad poop days.
0:32:40 > 0:32:42So anything sloppy, I'll challenge anyone in the world
0:32:42 > 0:32:44to pick up with their hands better
0:32:44 > 0:32:46than I can pick up with my HandiScoop.
0:32:46 > 0:32:48For young children, it's actually ideal.
0:32:48 > 0:32:51Any young child from five, you wouldn't ask a child, particularly,
0:32:51 > 0:32:54to get a bag out and pick it up, but this is very hygienic.
0:32:54 > 0:32:58He can do it and really enjoy helping look after the pet.
0:32:58 > 0:33:02And right through to someone of quite old age.
0:33:02 > 0:33:04Here we've got a bracket that we've developed,
0:33:04 > 0:33:07so it fits on walking sticks, on buggy pushchairs,
0:33:07 > 0:33:09push bikes, anything.
0:33:09 > 0:33:13We've achieved just under 35,000 pieces of sales
0:33:13 > 0:33:15in the last five years.
0:33:15 > 0:33:17We've worked very hard now on the packaging
0:33:17 > 0:33:19and since the packaging has been improved,
0:33:19 > 0:33:22I feel that we'll get fantastic retail sales.
0:33:22 > 0:33:26That's HandiScoop. Thank you very much for listening.
0:33:26 > 0:33:30We've got a product for you to have a look at.
0:33:30 > 0:33:32- Thank you.- Innovative poop scoops
0:33:32 > 0:33:35are the offering from Herefordshire-based John Nicholls.
0:33:35 > 0:33:40Obviously, you're very, very welcome to come and try one of our props.
0:33:40 > 0:33:45The entrepreneur is hoping to pick up a £45,000 investment in exchange
0:33:45 > 0:33:49for a 15% stake in his pet accessory business.
0:33:49 > 0:33:51It works.
0:33:51 > 0:33:53Touker Suleyman appears satisfied.
0:33:53 > 0:33:57But dog-owner Nick Jenkins knows more than most
0:33:57 > 0:33:59about the problem in hand.
0:33:59 > 0:34:01Oh, that is such a boy thing to do.
0:34:01 > 0:34:04- SHE RETCHES - You're so revolting!
0:34:04 > 0:34:07Is he about to praise the product or "poo-poo" it?
0:34:07 > 0:34:10- Thank you very much indeed. - Thank you.
0:34:10 > 0:34:11Thank you.
0:34:15 > 0:34:19I could totally accept that not a lot of people appreciate
0:34:19 > 0:34:22the warm and squidgy feeling that one gets picking up dog poop,
0:34:22 > 0:34:25but at the same time, you sort of get over it fairly quickly.
0:34:25 > 0:34:29And the big advantage is you don't have to walk around with a big thing
0:34:29 > 0:34:31that says - "I'm carrying poop!"
0:34:31 > 0:34:33Now, there is an advantage to this product
0:34:33 > 0:34:35that you haven't emphasised, which is security.
0:34:35 > 0:34:38- Yep.- Because if you're walking through the park
0:34:38 > 0:34:39and you're quite visibly holding something
0:34:39 > 0:34:43that is quite obviously full of poop, nobody's going to mug you.
0:34:43 > 0:34:45Particularly if your dog has diarrhoea.
0:34:45 > 0:34:48When I scooped up those baked beans and showed them to Sarah...
0:34:48 > 0:34:51Yes, I've got poo everywhere here, look.
0:34:51 > 0:34:54I don't think you quite did it properly,
0:34:54 > 0:34:56but I'd love to challenge you.
0:34:56 > 0:34:58- Look.- Ooh!
0:34:58 > 0:35:01OK, so you're down on your hands and knees, so now with...
0:35:01 > 0:35:04That's... How much have you picked up?
0:35:04 > 0:35:05So you're going to leave the rest?
0:35:05 > 0:35:07No, I could pick that all up,
0:35:07 > 0:35:09but that's the point I'm demonstrating here.
0:35:09 > 0:35:11I don't think you demonstrated anything to me.
0:35:11 > 0:35:13You've left all those beans in the tray.
0:35:13 > 0:35:16I could completely clear the tray of every last bean.
0:35:16 > 0:35:18I... I don't know.
0:35:18 > 0:35:19The main thing for me is
0:35:19 > 0:35:21that I wouldn't want to walk through the street...
0:35:21 > 0:35:24It's a big bulky thing to walk through the streets with.
0:35:24 > 0:35:26A small packet of bags just go in my pocket.
0:35:26 > 0:35:28You put bags of poop in your pocket, yeah?
0:35:28 > 0:35:30No, no, what I do is I drop it in the nearest bin
0:35:30 > 0:35:34- when I'm walking past.- When the bin is full, what do you do then?
0:35:35 > 0:35:38- Well, I go to the next bin.- So you're walking along and you think
0:35:38 > 0:35:41that's much better than carrying a hygienic handle,
0:35:41 > 0:35:43that you know you haven't got any mess on you.
0:35:43 > 0:35:46- Is that great? - I don't have an issue with that.
0:35:46 > 0:35:47OK, fine. Now, the other problem you've got
0:35:47 > 0:35:50is when you're handling that, that actually dangles down.
0:35:50 > 0:35:53Councils now are starting to get rid of bins
0:35:53 > 0:35:57cos they can't afford to maintain them and another thing is...
0:35:57 > 0:35:58John, John, John...
0:35:58 > 0:36:00Can I just interrupt you?
0:36:00 > 0:36:04Just take a deep breath because you've now moved into argument mode.
0:36:04 > 0:36:07It's like you're having some kind of argument in the Den.
0:36:07 > 0:36:09- Sorry.- What you actually want to do is pitch for an investment.
0:36:09 > 0:36:13- OK.- So can we just take a deep breath and focus on the business?
0:36:13 > 0:36:14Sure.
0:36:16 > 0:36:20It's a messy start for John as he fails to convince Nick Jenkins
0:36:20 > 0:36:23of his product's superior scooping ability.
0:36:24 > 0:36:27Now the multi-millionaires want to work out
0:36:27 > 0:36:30if the design of the HandiScoop holds any value.
0:36:34 > 0:36:36- Is it patented?- Yes.
0:36:36 > 0:36:40So I'm assuming that what's patented is the front end, not the back end,
0:36:40 > 0:36:42- and looks like a gun.- Yeah.
0:36:42 > 0:36:45I've made it in conjunction with a company
0:36:45 > 0:36:46called The Helping Hand company.
0:36:46 > 0:36:50He makes all the disabled grabbing things and litter pickers.
0:36:50 > 0:36:53Together, we've developed the product
0:36:53 > 0:36:56and he actually owns the patents and everything,
0:36:56 > 0:36:59but I've got full selling rights on all of the product.
0:36:59 > 0:37:02- Ah, so you haven't got the patents? - I don't own the patents, no.
0:37:02 > 0:37:05Right, OK. So, basically, you have a licence?
0:37:05 > 0:37:06Yeah.
0:37:07 > 0:37:10How many have you got to sell a year to keep hold of that licence?
0:37:11 > 0:37:13Erm...
0:37:13 > 0:37:15HE STUTTERS
0:37:16 > 0:37:18I'm not... I'm selling more...
0:37:18 > 0:37:21I haven't got the figures right in front of my head at the moment,
0:37:21 > 0:37:25but I'm selling more than my agreement was than I had to sell.
0:37:25 > 0:37:27OK. And it'll roll on from there.
0:37:27 > 0:37:29Does that increase every year, your minimum?
0:37:29 > 0:37:31Yes. Well, no...
0:37:31 > 0:37:34It just got to a certain level and then he was happy with the level
0:37:34 > 0:37:37- that I'm selling.- I mean, this is quite an important number, isn't it?
0:37:37 > 0:37:40- Yes, OK.- So can you just try and recall it?
0:37:40 > 0:37:41Yeah.
0:37:41 > 0:37:43I would think I've got to sell...
0:37:45 > 0:37:46..up to, um...
0:37:46 > 0:37:49at least 6,000 pieces a year.
0:37:52 > 0:37:55You don't know that, do you?
0:37:55 > 0:37:56You've just guessed that.
0:37:58 > 0:37:59I'm not asking you a difficult question.
0:37:59 > 0:38:02- No.- I just want to understand how likely you are
0:38:02 > 0:38:06to be able to continue selling this product if it is a big success.
0:38:06 > 0:38:09Or if it isn't a success, or if it's a bit of a success.
0:38:09 > 0:38:11- OK.- What the risk is.
0:38:11 > 0:38:13I don't think there is a risk.
0:38:13 > 0:38:15Yeah, but you can't tell me that. You need to say to me -
0:38:15 > 0:38:19"I've got to sell 10,000 a year to hold on to my licence."
0:38:19 > 0:38:21Or 15,000 a year, or 20,000 a year.
0:38:23 > 0:38:24Can you say that?
0:38:28 > 0:38:29How many products do you have to buy off him
0:38:29 > 0:38:31to make sure the licence continues?
0:38:32 > 0:38:36I would think something like 5,000 pieces a year.
0:38:36 > 0:38:38You would think!
0:38:39 > 0:38:40Well, I can get it agreed...
0:38:40 > 0:38:43It's not a problem to get it agreed.
0:38:43 > 0:38:45At the moment, I don't think I've got a figure.
0:38:45 > 0:38:48You are a licensed product. Right.
0:38:48 > 0:38:50All you're offering an investor
0:38:50 > 0:38:54is the ability to join with you in selling
0:38:54 > 0:38:55this licensed product.
0:38:55 > 0:38:57- Right.- So this agreement..
0:38:57 > 0:39:00- Yes.- ..is something that should be in your head, absolutely,
0:39:00 > 0:39:03"I've got to do this, I've got to do that, that way we're safe."
0:39:03 > 0:39:05OK, yep.
0:39:08 > 0:39:10Do you have the agreement with you?
0:39:10 > 0:39:11Does it actually matter?
0:39:11 > 0:39:14Will it make a difference if he had the agreement with him?
0:39:14 > 0:39:17You've really just come in and tried to wing an investment
0:39:17 > 0:39:19on the back of the fact that you've had a product, you've sold a few,
0:39:19 > 0:39:23somebody else owns the rights, and you want me to invest.
0:39:23 > 0:39:26I don't need you. I may as well go and do a deal with the actual owner
0:39:26 > 0:39:28who has the ownership of the IP.
0:39:29 > 0:39:32- I invented it.- Well, you've given the rights away.
0:39:32 > 0:39:36You've invented something and given the rights to somebody else.
0:39:36 > 0:39:40I don't... I question why you would do that.
0:39:41 > 0:39:43So, really, as an investment, you've got nothing to offer.
0:39:43 > 0:39:44I'm out.
0:39:47 > 0:39:50Peter Jones makes no bones about his disillusionment
0:39:50 > 0:39:52with John's licensing agreement.
0:39:53 > 0:39:56Is a previously sceptical Nick Jenkins
0:39:56 > 0:39:59also about to walk away from a deal?
0:40:03 > 0:40:06Look, I'm sure there are some people with limited mobility
0:40:06 > 0:40:08- for whom this would be useful.- Sure.
0:40:10 > 0:40:12I don't think it solves any of the problems
0:40:12 > 0:40:15of being a relatively squeamish, fairly revolting experience,
0:40:15 > 0:40:16picking up dog poo.
0:40:17 > 0:40:22It doesn't offer a good enough solution for this to be interesting,
0:40:22 > 0:40:24so for that reason, there's so many reasons to be out...
0:40:26 > 0:40:28..but I'm out.
0:40:29 > 0:40:30OK. Thank you.
0:40:30 > 0:40:36John, I'm not a dog owner, but as a product, I just don't see it.
0:40:36 > 0:40:40If I had a dog, I'd take the dog out with my kids.
0:40:40 > 0:40:42I wouldn't even be able to hold their hand
0:40:42 > 0:40:45because I'd have to carry this enormous contraption with me
0:40:45 > 0:40:47everywhere that I went.
0:40:48 > 0:40:51Honestly, I can't see me ever using it.
0:40:51 > 0:40:54So, I'm afraid, it's not a business for me to invest in,
0:40:54 > 0:40:55so I'm out.
0:40:58 > 0:41:02A pet-free Sarah Willingham declines the investment opportunity.
0:41:04 > 0:41:08Which way will dog-loving Deborah Meaden go?
0:41:08 > 0:41:10I do think you'll sell some
0:41:10 > 0:41:12and I hope that you can make a business out of it.
0:41:12 > 0:41:15But of course you've got this really confusing relationship
0:41:15 > 0:41:19that I don't think is properly tied down with the patent holder
0:41:19 > 0:41:22and it just takes away the ability to invest.
0:41:22 > 0:41:23Even if I thought it was a fantastic product,
0:41:23 > 0:41:25there would be lots of barriers.
0:41:26 > 0:41:29It's not going to happen, so I'm out.
0:41:32 > 0:41:36With Deborah Meaden out, just Touker Suleyman remains.
0:41:36 > 0:41:38Could the retail tycoon be the Dragon
0:41:38 > 0:41:40to offer the HandiScoop hopeful
0:41:40 > 0:41:42a financial helping hand?
0:41:44 > 0:41:46I think it's a good product.
0:41:48 > 0:41:49It's practical...
0:41:49 > 0:41:51- Yes.- ..as a piece of kit.
0:41:52 > 0:41:56What have you sold in the last 12 months?
0:41:56 > 0:41:59I'm selling about 600 pieces a month at the moment.
0:41:59 > 0:42:00About 7,200.
0:42:02 > 0:42:03You've got online.
0:42:03 > 0:42:07How many of those are you selling a month?
0:42:07 > 0:42:09Probably about 150, somewhere around there.
0:42:09 > 0:42:14- A month?- Yeah. Obviously I supply people like Amazon, Pets At Home,
0:42:14 > 0:42:16other people as well.
0:42:16 > 0:42:19So I'm supplying wholesale as well, to some garden centres,
0:42:19 > 0:42:20to some pet shops.
0:42:20 > 0:42:22It looks like you're supplying a lot of people,
0:42:22 > 0:42:24but you're not selling much.
0:42:26 > 0:42:28The reason is, like I explained,
0:42:28 > 0:42:31because of the packaging, didn't relate.
0:42:31 > 0:42:35The product bare is very hard to understand. With the packaging...
0:42:35 > 0:42:38The packaging is absolutely brand-new.
0:42:38 > 0:42:42John, if it's the right product, they find you.
0:42:42 > 0:42:46- Right.- But I would have thought by now, been going five years,
0:42:46 > 0:42:49you would have sold a lot more.
0:42:49 > 0:42:53All I can tell you is that when it does sell,
0:42:53 > 0:42:56the people would never go back to what they currently do
0:42:56 > 0:42:59and if every household in England had one...
0:42:59 > 0:43:01You're dreaming there, aren't you?
0:43:01 > 0:43:04I don't exactly think so because I know...
0:43:04 > 0:43:05Is that your prediction?
0:43:05 > 0:43:09- That every household in the country will own one of those?- No, I don't.
0:43:09 > 0:43:14My figures that I have prepared are based on 1% of the market.
0:43:14 > 0:43:15Right. So what are your figures?
0:43:15 > 0:43:17So 12 months from now, where will you be?
0:43:17 > 0:43:21I reckon I'll be turning over 900,000.
0:43:21 > 0:43:23And at the moment, how much is it going to be this year?
0:43:23 > 0:43:27- About 60,000.- So you're going to go from 60 to 900,000?
0:43:27 > 0:43:29Yes. Big numbers.
0:43:30 > 0:43:35- You're digging your grave bigger and bigger, I'm afraid, John. - No, no, no, no.
0:43:35 > 0:43:38There's a lot of barriers that you've put up today.
0:43:38 > 0:43:40The product's right but you're uninvestable.
0:43:43 > 0:43:45- I'm out.- OK, thank you very much indeed.
0:43:45 > 0:43:47Thank you.
0:43:47 > 0:43:49And good luck. I hope it works out.
0:43:49 > 0:43:50Thank you.
0:43:50 > 0:43:51Good.
0:43:53 > 0:43:56So a fifth and final rejection for John,
0:43:56 > 0:43:59who has failed to scoop an investment in his doggy device.
0:44:01 > 0:44:03He walks away empty-handed.
0:44:04 > 0:44:06OK, I've lost out and they've lost out.
0:44:06 > 0:44:09That's what I look at. I didn't do a good pitch early on
0:44:09 > 0:44:10and it's quite hard on you.
0:44:10 > 0:44:13You know, you can't remember all the figures in your head.
0:44:22 > 0:44:24So far, our multi-millionaire Dragons
0:44:24 > 0:44:27haven't been tempted to commit any of their cash,
0:44:27 > 0:44:29failing to see enough value
0:44:29 > 0:44:32in the array of businesses they've been pitched.
0:44:32 > 0:44:36But will our final entrepreneurs into the Den fare any better?
0:44:41 > 0:44:45They are Glasgow-based Vincenz Klemt and Raj Sark,
0:44:45 > 0:44:49business partners who believe there is profit in loss.
0:44:49 > 0:44:53Almost 1.5 billion worth of gadgets are lost in the UK,
0:44:53 > 0:44:55so we said, "There is a problem -
0:44:55 > 0:44:57"can there be a solution?"
0:44:57 > 0:45:01And I think it's the right timing for us to go into the Den
0:45:01 > 0:45:02and give it our best shot.
0:45:02 > 0:45:07But will the Dragons find value in their investment opportunity?
0:45:14 > 0:45:17- Hi, Dragons.- Hello, Dragons. Are we ready?- Yes.
0:45:17 > 0:45:20Oh, wait, where are my keys?
0:45:20 > 0:45:21- Where's my phone?- Where are my keys?
0:45:21 > 0:45:24- My phone?- Did you know the average person
0:45:24 > 0:45:26spends ten minutes per day doing just that.
0:45:26 > 0:45:28Lupo is the solution.
0:45:28 > 0:45:32With Lupo, you can find your keys from your phone,
0:45:32 > 0:45:34you can ring your phone from your keys.
0:45:34 > 0:45:37Keys, wallet or travel bag -
0:45:37 > 0:45:39keep track of them all through one single app.
0:45:40 > 0:45:43Lupo is primarily aimed at the busy young professional,
0:45:43 > 0:45:46the smartphone user, the frequent traveller
0:45:46 > 0:45:49and everybody who sometimes can't find the things
0:45:49 > 0:45:51they know are here somewhere.
0:45:51 > 0:45:53And that can happen to anybody.
0:45:53 > 0:45:56So what do we do when we can't find the car keys, 8am in the morning,
0:45:56 > 0:45:58- in a rush?- It's very simple.
0:45:58 > 0:46:01We take out the Lupo app and use the Call Me feature.
0:46:01 > 0:46:03- BEEPING - Oh, hang on. Oh.
0:46:03 > 0:46:05Oh, it's down there.
0:46:05 > 0:46:08Is that me? Am I beeping?
0:46:08 > 0:46:09Just under you!
0:46:11 > 0:46:14- Oh, thank you. - Thanks, Deborah, you're a champ.
0:46:14 > 0:46:16You can find your keys from your phone.
0:46:16 > 0:46:18You can also actually find your phone from your keys.
0:46:18 > 0:46:21You press the button here and you wait.
0:46:21 > 0:46:23One, two...
0:46:23 > 0:46:25- PHONE PLAYS JINGLE - There we go.
0:46:25 > 0:46:29It's a two-way finder and if something goes lost,
0:46:29 > 0:46:30stolen or missing,
0:46:30 > 0:46:34you can view its last known location on a map.
0:46:34 > 0:46:38Today, we are here to seek an investment of £100,000
0:46:38 > 0:46:42in return for an 8% equity stake in our company.
0:46:42 > 0:46:45Lupo is one of the UK's favourite tracking gadgets
0:46:45 > 0:46:48and has been one of the best sellers on Amazon UK.
0:46:48 > 0:46:50The product sells at £20 per unit
0:46:50 > 0:46:54and the cost to produce each of them is £3.50,
0:46:54 > 0:46:57giving us a gross margin of just about 75%.
0:46:57 > 0:47:00We are looking to bring Lupo to a retail store near you
0:47:00 > 0:47:03and with this investment, it will help us do just that.
0:47:03 > 0:47:07Thank you. And now we would like to answer any of your questions.
0:47:10 > 0:47:14Hoping to home in on an investment are Vincenz Klemt and Raj Sark
0:47:14 > 0:47:17with their tracking device and phone app,
0:47:17 > 0:47:19which helps locate lost valuables.
0:47:19 > 0:47:21- One for you, Peter. - Thank you very much.
0:47:23 > 0:47:26The entrepreneurs are looking for £100,000
0:47:26 > 0:47:28for just 8% of their business.
0:47:28 > 0:47:30Even the most diligent of Dragons
0:47:30 > 0:47:33misplaces their phone from time to time.
0:47:33 > 0:47:36But it appears Sarah Willingham needs convincing
0:47:36 > 0:47:40- that this is the solution to finding it.- Am I missing something?
0:47:40 > 0:47:41I just don't get it,
0:47:41 > 0:47:45because it says very clearly in your instructions
0:47:45 > 0:47:50that if you want to find your mobile phone, make sure it's not on mute,
0:47:50 > 0:47:54and make sure it's switched on to find it.
0:47:54 > 0:47:57I would just use somebody else's mobile phone
0:47:57 > 0:47:59or something and I would just phone it.
0:47:59 > 0:48:00It's a very age-old problem, really.
0:48:00 > 0:48:03You ask your friend, you ask someone else.
0:48:03 > 0:48:05- "Can you ring my phone?" - "Can you ring my phone?"
0:48:05 > 0:48:07But what if your friend or partner is not there at the moment?
0:48:07 > 0:48:10You spend ten minutes searching for it
0:48:10 > 0:48:13and that already is a bad start to the day.
0:48:15 > 0:48:18It's not a particularly great start to the day
0:48:18 > 0:48:20for Raj and Vincenz either.
0:48:20 > 0:48:24And now tech tycoon Peter Jones has a bee in his bonnet
0:48:24 > 0:48:27about just how innovative their innovation is.
0:48:30 > 0:48:32Tech tracking is so old.
0:48:34 > 0:48:36I sell...
0:48:36 > 0:48:40at least five or six different types of tracking tag devices.
0:48:41 > 0:48:43It's not new.
0:48:44 > 0:48:47Bluetooth Smart, actually, is a very new technology.
0:48:47 > 0:48:50That's Bluetooth 4.0 - combining that with our software,
0:48:50 > 0:48:53that part of the technology is very new.
0:48:55 > 0:48:59My sister bought my husband for Christmas
0:48:59 > 0:49:04something that does exactly what this does. So what is that?
0:49:04 > 0:49:06There are a few similar trackers out there in the market.
0:49:06 > 0:49:09It's a very fast evolving and growing market, as we see it.
0:49:09 > 0:49:12So you're not claiming this is unique?
0:49:12 > 0:49:15So what's your...? And this is important.
0:49:15 > 0:49:17So why you?
0:49:17 > 0:49:21It's the software. Anybody can take all these components off the shelf
0:49:21 > 0:49:23in China, yeah. They're very cheap.
0:49:23 > 0:49:26But it's all about the firmware on the device.
0:49:26 > 0:49:27It's about the app.
0:49:27 > 0:49:31We can also write new applications for that button.
0:49:31 > 0:49:34OK, see, that's really important to understand
0:49:34 > 0:49:36because the thing that you're selling us
0:49:36 > 0:49:38doesn't sound at all unique to me.
0:49:38 > 0:49:41But, actually, it's the other stuff that's making it unique.
0:49:41 > 0:49:44And the question, therefore, is how important
0:49:44 > 0:49:46is the other stuff that you can do?
0:49:46 > 0:49:48So we have one large competitor in the US.
0:49:48 > 0:49:51They raised about 16 million funding.
0:49:51 > 0:49:54By January, they have sold about four million units.
0:49:54 > 0:49:57But their battery is locked in.
0:49:57 > 0:50:02So after about six months, the product will die.
0:50:02 > 0:50:04Ours lasts the longest in terms of the battery life.
0:50:04 > 0:50:06That's unique to Lupo.
0:50:06 > 0:50:09Also, the upgradeability, which is unique to our product.
0:50:12 > 0:50:17The entrepreneurs are certainly not lost for words as they deftly handle
0:50:17 > 0:50:20yet more scepticism about their phone-finding device.
0:50:21 > 0:50:25But it's the disclosure of a major competitor Stateside
0:50:25 > 0:50:30that's preoccupying both Nick Jenkins and Touker Suleyman.
0:50:32 > 0:50:34Technology moves very fast.
0:50:34 > 0:50:38- Yes.- Now, you mentioned about a competitor in the US.
0:50:38 > 0:50:41- Yes.- You honestly believe that they're going to sit there
0:50:41 > 0:50:44and do nothing to improve their product,
0:50:44 > 0:50:48that they're going to just let the business be taken away from them?
0:50:48 > 0:50:49I don't think so.
0:50:51 > 0:50:52This is... It is a big boy's game
0:50:52 > 0:50:54and there will be lots of big companies
0:50:54 > 0:50:57coming in and throwing a lot of money at researchers.
0:50:57 > 0:50:59Only a few companies can win,
0:50:59 > 0:51:02so it's too much of a gamble.
0:51:03 > 0:51:07I just can't take myself over the edge,
0:51:07 > 0:51:09so for that reason I'm afraid I'm out.
0:51:12 > 0:51:15E-commerce risk taker Nick Jenkins
0:51:15 > 0:51:18decides not to take a chance on the techie twosome.
0:51:18 > 0:51:22And it seems Sarah Willingham has come to an early decision.
0:51:25 > 0:51:27I keep coming back to the fundamental need for it.
0:51:28 > 0:51:31I really don't like the fact that my mobile phone has to be turned on,
0:51:31 > 0:51:34cos that, to me, is the real problem,
0:51:34 > 0:51:37cos I'll always be able to find my phone if it's turned on
0:51:37 > 0:51:42and it's not on mute, cos I can just call it from somebody else's phone.
0:51:42 > 0:51:43So it's not an investment for me
0:51:43 > 0:51:46because it's not something that I get excited about.
0:51:47 > 0:51:49I'm out.
0:51:51 > 0:51:53You're going to need a lot of money to keep up.
0:51:54 > 0:51:59Right? Before you know it, it's a black hole just eating money.
0:52:00 > 0:52:03I can't see myself on that journey with you.
0:52:04 > 0:52:06For that reason, I'm out.
0:52:09 > 0:52:11Two more Dragons down.
0:52:11 > 0:52:14Vincenz and Raj have had their work cut out
0:52:14 > 0:52:16persuading the multi-millionaires
0:52:16 > 0:52:20that their product is unique enough to rise above the competition.
0:52:22 > 0:52:24Will Deborah Meaden and Peter Jones
0:52:24 > 0:52:27each take a punt or throw in the towel?
0:52:33 > 0:52:34I like what you've done.
0:52:36 > 0:52:38I think that you've got what it takes
0:52:38 > 0:52:42and I think you understand the market really, really well.
0:52:43 > 0:52:47The window of opportunity is now and, on the basis of that...
0:52:49 > 0:52:52..I'm going to make you an offer.
0:52:52 > 0:52:54So I'm going to offer you all of the money, 100,000...
0:52:57 > 0:53:00..but I want a large piece of the pie.
0:53:01 > 0:53:04And the reason is because I believe that you can go two routes.
0:53:04 > 0:53:07You can get an investor that's going to give you what you need,
0:53:07 > 0:53:09capital to grow, or you're going to get an investor
0:53:09 > 0:53:11that will give you the capital to grow
0:53:11 > 0:53:13and the routes to market to sell.
0:53:13 > 0:53:16And I have the routes to market to sell.
0:53:16 > 0:53:20So I'm going to offer you £100,000, but I want 30% of the business.
0:53:23 > 0:53:26He previously appeared lukewarm,
0:53:26 > 0:53:29but a wily Peter Jones reveals his hand,
0:53:29 > 0:53:32signalling a turnaround for the entrepreneurs.
0:53:32 > 0:53:35But the Dragon's substantial equity demand
0:53:35 > 0:53:37is almost four times the amount
0:53:37 > 0:53:39the business partners wanted to give away.
0:53:40 > 0:53:45Will Deborah Meaden be willing to offer a better deal?
0:53:47 > 0:53:48Honestly...
0:53:50 > 0:53:51..Peter's your man.
0:53:53 > 0:53:54You know, Peter's your man. He's...
0:53:56 > 0:54:01I couldn't offer you, honestly, the route to market as quickly as Peter.
0:54:01 > 0:54:03This is what Peter does.
0:54:03 > 0:54:06You've got a good offer from the right Dragon,
0:54:06 > 0:54:08so I won't be making an offer.
0:54:08 > 0:54:10I won't be investing. I'm out.
0:54:15 > 0:54:18Is it OK if we take a bit of time off to have a talk?
0:54:18 > 0:54:20Because we're interested in your offer.
0:54:20 > 0:54:23We are just trying to see how we can also make it work.
0:54:23 > 0:54:25OK.
0:54:25 > 0:54:26Yeah.
0:54:27 > 0:54:31It's a tough decision for the business partners.
0:54:31 > 0:54:35Will they risk negotiating with the Dragon who is notoriously prickly
0:54:35 > 0:54:38about a business's price tag?
0:54:38 > 0:54:41(They'd be mad not to take that offer.)
0:54:43 > 0:54:46Peter obviously understands the market, which I'm...
0:54:46 > 0:54:48And he thinks we have got insight into the market.
0:54:48 > 0:54:50He's definitely got the connections there.
0:54:50 > 0:54:56But if we are raising anywhere above the 20% mark,
0:54:56 > 0:54:59we are actually almost going down on the valuation.
0:55:08 > 0:55:11Would you be willing to drop the equity stake
0:55:11 > 0:55:14to somewhere around 15%?
0:55:14 > 0:55:16No.
0:55:16 > 0:55:19And the reason for that is that I think that
0:55:19 > 0:55:21there's some investments you get opportunities with
0:55:21 > 0:55:26that the value of which you bring is greater than the parts,
0:55:26 > 0:55:28and I think this is one.
0:55:28 > 0:55:30I think the value that I bring to the party, to this,
0:55:30 > 0:55:32and particularly this product,
0:55:32 > 0:55:35I think I'll be creating the value for you.
0:55:35 > 0:55:39We do really appreciate the network you are going to bring in,
0:55:39 > 0:55:44for which actually we would be willing to take the investment,
0:55:44 > 0:55:47if we could have an offer at 20%.
0:55:50 > 0:55:53You know, I've already got a business that sells products
0:55:53 > 0:55:56like this into 150 countries around the world.
0:55:57 > 0:56:00It's what I do.
0:56:00 > 0:56:03So, no, I'm going to stick fast on 30%.
0:56:06 > 0:56:11The issue is just the valuation, because we are almost...
0:56:11 > 0:56:13We want to increase the value of the company.
0:56:13 > 0:56:15I think you've got an opportunity now
0:56:15 > 0:56:17to increase the value of your company by accepting my offer.
0:56:21 > 0:56:24Would that be your final position?
0:56:24 > 0:56:26Is there any other valuation you can offer us?
0:56:26 > 0:56:31No, I've got to stay true because some investments, I can offer, say,
0:56:31 > 0:56:3330% and say, "Look, if I get my money back,
0:56:33 > 0:56:35"I'll drop down to 15 or 20%."
0:56:35 > 0:56:37- Yeah.- But I don't believe that that's right in this case,
0:56:37 > 0:56:40because I think to sell this product you need me.
0:56:42 > 0:56:45- OK.- Can we take another time out?
0:56:45 > 0:56:46- OK.- Thank you.
0:56:51 > 0:56:54(If his business can be a success, Peter will make it happen,
0:56:54 > 0:56:56(end of story.)
0:56:56 > 0:56:59Yeah, I think we are going to stick with our investment strategy.
0:57:01 > 0:57:02OK.
0:57:11 > 0:57:13Peter, we would love to accept your offer.
0:57:13 > 0:57:15- Yay!- Great. Brilliant.
0:57:15 > 0:57:16- Good decision.- Thanks very much.
0:57:16 > 0:57:18- Well done.- Really good decision.
0:57:18 > 0:57:20A great example of negotiation as well.
0:57:20 > 0:57:22- Well done.- Well done.
0:57:22 > 0:57:23- Thank you.- Thank you, all.
0:57:24 > 0:57:29Finally, the tracking gadget entrepreneurs do close a deal,
0:57:29 > 0:57:32getting the Dragon with global tech expertise onboard.
0:57:34 > 0:57:36- That's all right.- Yeah.
0:57:36 > 0:57:3830%. OK.
0:57:38 > 0:57:40The negotiation with Peter was tough,
0:57:40 > 0:57:44but I think we are happy that we still got the offer
0:57:44 > 0:57:47- and managed to close it. - That was a game changer for them.
0:57:47 > 0:57:48I mean, every business does it,
0:57:48 > 0:57:51it gets a moment where it's absolute, this is a game changer.
0:57:51 > 0:57:53- Yeah.- And they've just had their moment.
0:58:02 > 0:58:06So a nail-biting end to events in the Den.
0:58:06 > 0:58:10Raj and Vincenz face a difficult dilemma and it was one of those days
0:58:10 > 0:58:14where the all-important back wall of the Den played a key role
0:58:14 > 0:58:16in helping them come to their final decision
0:58:16 > 0:58:20and eventually accepting Peter Jones's offer.
0:58:22 > 0:58:25- Oh!- Coming up next time... LAUGHTER
0:58:25 > 0:58:28I'm going to be really brutal here.
0:58:28 > 0:58:31I don't think you've got a business.
0:58:31 > 0:58:34I'm not being funny, but I didn't wake up this morning
0:58:34 > 0:58:36thinking, "I want to invest in intimate waxing."
0:58:36 > 0:58:38Have you given me a trick one?
0:58:38 > 0:58:39No.
0:58:39 > 0:58:41You can't even move that.
0:58:41 > 0:58:46You have come up with a very, very spicy valuation.
0:58:46 > 0:58:47I tell you what, I'm going to break cover
0:58:47 > 0:58:50and if this means that I'm on my own, then I'm on my own.
0:58:50 > 0:58:53You're sleeping on your office floor to make this business work.
0:58:53 > 0:58:56I don't need to know any more. That's done it.