0:00:02 > 0:00:04Tonight on Dragons' Den...
0:00:09 > 0:00:10Oh!
0:00:10 > 0:00:12LAUGHTER
0:00:12 > 0:00:15I'm going to be really brutal here.
0:00:15 > 0:00:18I don't think you've got a business.
0:00:18 > 0:00:20I'm not being funny, but I didn't wake up this morning thinking,
0:00:20 > 0:00:23"I want to invest in intimate waxing."
0:00:23 > 0:00:26- Have you given me a trick one?- No.
0:00:26 > 0:00:29You can't even move that.
0:00:29 > 0:00:33You have come up with a very, very spicy valuation.
0:00:34 > 0:00:36I tell you what, I'm going to break cover,
0:00:36 > 0:00:39and if this means that I'm on my own, then I'm on my own.
0:00:39 > 0:00:40You're sleeping on your office floor
0:00:40 > 0:00:43to make this business work.
0:00:43 > 0:00:46I don't need to know any more. That's done it.
0:01:18 > 0:01:20Welcome to Dragons' Den,
0:01:20 > 0:01:22the place where entrepreneurs get
0:01:22 > 0:01:26just one chance to impress five industry big hitters
0:01:26 > 0:01:29who have the money and the power to change their lives.
0:01:34 > 0:01:38The first entrepreneur in the Den, Gemma Cafferkey from Nottingham,
0:01:38 > 0:01:41believes she has the qualities and the all-round experience
0:01:41 > 0:01:43the Dragons are looking for.
0:01:45 > 0:01:47I'm very driven. When I set out to achieve something,
0:01:47 > 0:01:49I always like to achieve it.
0:01:49 > 0:01:52In the last five years I've had three children,
0:01:52 > 0:01:55I've maintained a successful business,
0:01:55 > 0:01:57I've launched another business.
0:01:57 > 0:01:59I think that I'm very capable.
0:01:59 > 0:02:01I need to remember to keep calm.
0:02:01 > 0:02:04I know my stuff. I just need to get that across.
0:02:12 > 0:02:15Hello, Dragons. My name's Gemma Cafferkey,
0:02:15 > 0:02:19and I'm delighted to be here today to present to you waxu,
0:02:19 > 0:02:22the UK's first truly dedicated
0:02:22 > 0:02:25express intimate waxing system.
0:02:25 > 0:02:28Not only are we a collection of intimate waxing products,
0:02:28 > 0:02:30we are a branded consumer service.
0:02:31 > 0:02:36I'm here to ask for £50,000 for a 10% share in waxu.
0:02:38 > 0:02:40What makes us different from current waxer brands
0:02:40 > 0:02:43out there at the minute is... Erm...
0:02:43 > 0:02:46Our beads set on contact, so there's zero drying times,
0:02:46 > 0:02:49so it gives salons the opportunity to speed up their treatment.
0:02:49 > 0:02:52We're super flexible,
0:02:52 > 0:02:55so even when we're set, we still remain flexible,
0:02:55 > 0:02:57so there's no snapping and it's super comfortable.
0:02:58 > 0:03:01We are also applied very thin,
0:03:01 > 0:03:04so you don't need much of the product.
0:03:04 > 0:03:07For the consumer, it's thorough.
0:03:07 > 0:03:11It's removing hairs directly from the root and it's super quick.
0:03:11 > 0:03:15Today we've been launched in the UK for six months.
0:03:15 > 0:03:18We've sold into 55 salons across the UK.
0:03:19 > 0:03:22We've gone into Iceland,
0:03:22 > 0:03:24into a salon over there.
0:03:24 > 0:03:28And if you liken my business model to the company that standardised
0:03:28 > 0:03:32an eyebrow shape, that went global quite quickly.
0:03:32 > 0:03:35So, I'm here to tell you, Dragons, why,
0:03:35 > 0:03:38with waxu, less really is more.
0:03:38 > 0:03:41It's less wax, less time,
0:03:41 > 0:03:44less discomfort, more appointments,
0:03:44 > 0:03:48more profit, more happy clients.
0:03:48 > 0:03:50I'd really love to do you a demonstration.
0:03:50 > 0:03:52Obviously, I think, on your arms, today.
0:03:52 > 0:03:53- Touker will come and do it.- Ohh!
0:03:53 > 0:03:56- Why is it always me?- Yeah.
0:03:56 > 0:03:58- Get your trousers off.- My legs?
0:03:58 > 0:04:01- Yeah, we can do your legs. - SHE LAUGHS
0:04:01 > 0:04:05It's a plucky pitch from Nottingham-based Gemma Cafferkey,
0:04:05 > 0:04:07who is asking for £50,000
0:04:07 > 0:04:12for a 10% share of her salon-based intimate wax treatment.
0:04:12 > 0:04:15- DEBORAH:- Is it going to hurt?- I'm not panicking, don't worry.
0:04:15 > 0:04:17- Here we go.- OK.
0:04:17 > 0:04:18Oh! Ow!
0:04:18 > 0:04:19LAUGHTER
0:04:21 > 0:04:24Will Touker Suleyman's silky skin
0:04:24 > 0:04:26be enough to convince Sarah Willingham
0:04:26 > 0:04:28of the product's appeal?
0:04:29 > 0:04:32Right, thank you. And thank you for that demonstration.
0:04:32 > 0:04:35We've all learned something there.
0:04:35 > 0:04:39I don't really understand why this is different.
0:04:39 > 0:04:42OK. Well, the main things that make it different is...
0:04:44 > 0:04:48From a salon point of view, our wax sets on contact,
0:04:48 > 0:04:51which means that it takes away drying time.
0:04:51 > 0:04:53The majority of hot waxes,
0:04:53 > 0:04:55you have to wait for it to set
0:04:55 > 0:04:58and you have to apply it thicker,
0:04:58 > 0:05:02so you're using more product and it's taking more time.
0:05:02 > 0:05:05OK, so you have currently sold into
0:05:05 > 0:05:07- 55 salons in the UK.- Yes.
0:05:07 > 0:05:09How have you done that?
0:05:09 > 0:05:10- Exhibitions.- OK.
0:05:10 > 0:05:13So, what we do is we sell...
0:05:13 > 0:05:15We put the kit together, so it's almost like a business in a box.
0:05:15 > 0:05:19You get the equipment, you get the product, and so on.
0:05:19 > 0:05:22You get enough for 50 treatments. You get the branding. And then you get the training.
0:05:22 > 0:05:24And how much is that costing me?
0:05:24 > 0:05:27Erm... The entry point is 350.
0:05:27 > 0:05:29OK, and once I've bought the business in a box,
0:05:29 > 0:05:31and I've had my training for £350,
0:05:31 > 0:05:36how long for an average salon is that going to last?
0:05:36 > 0:05:38About two months.
0:05:38 > 0:05:41- OK.- Two to three months. The experience so far is
0:05:41 > 0:05:44- people are spending £200 on repeat buying.- Oh, wow.
0:05:44 > 0:05:49OK, so actually the business model is 350 upfront...
0:05:49 > 0:05:51- Yeah.- ..and then every two months...
0:05:51 > 0:05:53- Yeah.- So, six times in a year...
0:05:53 > 0:05:55- Yeah.- ..they're spending £200.
0:05:55 > 0:05:57So, that's another £1,200.
0:05:57 > 0:06:01- So, you're getting just over £1,500...- Yes.- ..per year per salon.
0:06:01 > 0:06:03Yes.
0:06:04 > 0:06:08A franchise model with legs is music to the Dragon
0:06:08 > 0:06:11who's rolled out restaurant franchises around the world.
0:06:12 > 0:06:16But Deborah Meaden is concerned that a faster service
0:06:16 > 0:06:18could mean slower profits.
0:06:21 > 0:06:23It's a funny thing with beauty treatments,
0:06:23 > 0:06:27because you're kind of buying time.
0:06:27 > 0:06:28Sometimes fastest, quickest,
0:06:28 > 0:06:31I just want to get it... "Just do my nails, quickly, as fast as you can."
0:06:31 > 0:06:33- And then other times you actually, it's pamper.- Yeah.
0:06:33 > 0:06:37And actually quicker, then, usually leads to cheaper.
0:06:37 > 0:06:39So what's your retailers' experience?
0:06:39 > 0:06:43Are they still charging the normal full price
0:06:43 > 0:06:47or are they having to reduce it because it's a much simpler,
0:06:47 > 0:06:48much quicker process?
0:06:48 > 0:06:52By delivering a service to the consumer that is quick,
0:06:52 > 0:06:56it's comfortable, it's efficient, it's doing the job perfectly,
0:06:56 > 0:06:58people are prepared to pay more.
0:06:58 > 0:07:01And, erm... So, we're actually suggesting that they can
0:07:01 > 0:07:03creep the price up a little bit, just by a few pounds.
0:07:03 > 0:07:06Actually, I get that, because this isn't really a luxury!
0:07:06 > 0:07:07LAUGHTER
0:07:07 > 0:07:11In fact, I'd pay a lot more money for it to be really, really quick.
0:07:13 > 0:07:16Deborah Meaden appears to have come round to Gemma's way of thinking.
0:07:16 > 0:07:21And now Peter Jones is keen to understand what sets the wax apart.
0:07:25 > 0:07:27What's the invention, or the creation, here?
0:07:27 > 0:07:30The grade of resins that have been
0:07:30 > 0:07:33used in this is a unique formulation
0:07:33 > 0:07:37that removes much more comfortably, and with a lot of waxes that...
0:07:37 > 0:07:42- Who's done that?- I've worked with a chemist to look at things
0:07:42 > 0:07:46that have been missing from leading products and say,
0:07:46 > 0:07:49"OK, if it would just set harder, if it was more flexible,
0:07:49 > 0:07:51"we could use it thinner,
0:07:51 > 0:07:53"then it's going to be more profitable", and so on.
0:07:53 > 0:07:55OK, so, could anybody do this?
0:07:55 > 0:07:58Could anybody...? They could test the product, obviously,
0:07:58 > 0:08:01and find out what's in it, and then they could just copy it.
0:08:01 > 0:08:04I've got a nondisclosure agreement with the chemists,
0:08:04 > 0:08:06so this product's not being made for anyone else.
0:08:06 > 0:08:10The way that this is blended is unique to them, as well.
0:08:14 > 0:08:18Gemma has proved that her business acumen is more than skin deep,
0:08:18 > 0:08:22with safeguards in place to protect her bespoke wax.
0:08:22 > 0:08:25And her polished performance has Nick Jenkins
0:08:25 > 0:08:28itching to explore the potential size of the market.
0:08:32 > 0:08:34How many people in this country do intimate waxing?
0:08:35 > 0:08:38I don't know how many people do intimate waxing,
0:08:38 > 0:08:40but I do know that within six months
0:08:40 > 0:08:43I've sold into 55 salons across the UK and the feedback's been really good.
0:08:43 > 0:08:45But you haven't done any... Have you made any attempt to work out,
0:08:45 > 0:08:47nationally, how many people do this?
0:08:47 > 0:08:49When I was researching,
0:08:49 > 0:08:52I came...that the hair-removal market worth is 2.3 billion.
0:08:52 > 0:08:54Oh, no, hair removal's a different thing.
0:08:54 > 0:08:58Narrowing it down to the amount of money spent on intimate waxing,
0:08:58 > 0:09:01have you spent any time doing any market research in that respect?
0:09:01 > 0:09:03No, I haven't done that.
0:09:03 > 0:09:06- DEBORAH:- What's your experience? Have you run a salon?- I have, yes.
0:09:06 > 0:09:08OK. So, of your salon turnover,
0:09:08 > 0:09:10tell me what the salon turned over and how much
0:09:10 > 0:09:13- came through this type of thing.- OK, well, my salon turned over
0:09:13 > 0:09:16400,000 a year.
0:09:16 > 0:09:20And 70, 75% of it is from intimate waxing.
0:09:20 > 0:09:21So, have you got a salon now?
0:09:21 > 0:09:24- I have, yeah.- So, are you offering investment in the salon?
0:09:24 > 0:09:27- No. This is a completely separate...- OK.
0:09:27 > 0:09:30So, you've got a business that's turning over 400,000 a year?
0:09:30 > 0:09:32- Yes.- What kind of profit's that making?
0:09:32 > 0:09:35It's making about...
0:09:35 > 0:09:36100, 110.
0:09:36 > 0:09:40OK, so why have you chosen to separate
0:09:40 > 0:09:43this as a product and not, sort of,
0:09:43 > 0:09:47join it together with its spiritual home, which is your salon?
0:09:47 > 0:09:49That's been a fantastic business for me.
0:09:49 > 0:09:52It's enabled me to have three young children, provide flexible working,
0:09:52 > 0:09:53have a good income.
0:09:53 > 0:09:57However, this business model is potentially to go global.
0:09:58 > 0:10:01- PETER:- Gemma, it's a bit like coming in and saying,
0:10:01 > 0:10:03"I tell you what, I've got this great opportunity,
0:10:03 > 0:10:06"I've got the BMW license and I sell cars,
0:10:06 > 0:10:08"but I've invented a nice shampoo business over here,
0:10:08 > 0:10:12"and I'm going to clean the cars, and that's the business I'm asking for money for."
0:10:12 > 0:10:14And I'm going to say, "Well, if I invest in your business,
0:10:14 > 0:10:16"do I get any benefit from the sales of the cars?"
0:10:16 > 0:10:18And you say, "No".
0:10:20 > 0:10:22I think the two need to go together,
0:10:22 > 0:10:26and I think your business here is one.
0:10:26 > 0:10:28So, I'm going to say I'm not going to invest, and I'm out.
0:10:31 > 0:10:34Peter Jones is the first Dragon out,
0:10:34 > 0:10:37unwilling to invest in a business he feels
0:10:37 > 0:10:40Gemma could be financing herself.
0:10:40 > 0:10:42Does Nick Jenkins share his frustration?
0:10:45 > 0:10:49Gemma, I actually don't have any issue with splitting the two out,
0:10:49 > 0:10:52because if this business were to grow substantially,
0:10:52 > 0:10:53then in many respects
0:10:53 > 0:10:56the ins and outs of a salon
0:10:56 > 0:10:58would be, kind of, a bit of an irrelevance.
0:10:58 > 0:11:00What are you looking for from a Dragon?
0:11:00 > 0:11:03I'm looking for your expertise, I'm looking to work with you,
0:11:03 > 0:11:06to gain your experience, to help roll this out.
0:11:06 > 0:11:09This week I received an e-mail from someone in Europe saying,
0:11:09 > 0:11:11"Can I train them online for it?"
0:11:11 > 0:11:14I'm looking for a Dragon to say,
0:11:14 > 0:11:16"OK, well, if we do this and if we do this,
0:11:16 > 0:11:19"we can start rolling it out in Europe for you."
0:11:19 > 0:11:23I have to say, I'm impressed. I mean, not only have you set up a successful salon,
0:11:23 > 0:11:25you're making very good money from that... The product,
0:11:25 > 0:11:28- you've done a great job of developing that.- Thank you.
0:11:30 > 0:11:32OK. Again. I mean, in short...
0:11:32 > 0:11:34I don't know that there's anything that I could add,
0:11:34 > 0:11:37- so I wish you all the best of luck on that.- Oh, thank you very much.
0:11:39 > 0:11:41Heaps of praise for Gemma,
0:11:41 > 0:11:45but Nick Jenkins opts not to bankroll her business.
0:11:47 > 0:11:49Sarah Willingham is next to show her hand.
0:11:49 > 0:11:52Will she treat herself to an investment?
0:11:53 > 0:11:55I think it's great what you've achieved with your business.
0:11:55 > 0:11:57Thank you very much.
0:11:57 > 0:11:59But I think it's going to take you a long time
0:11:59 > 0:12:02to get to where you need to get to,
0:12:02 > 0:12:04so in terms of getting a return on investment,
0:12:04 > 0:12:09I think it's a long way off, and it's quite a small market.
0:12:09 > 0:12:11So, I'm going to say I'm out.
0:12:16 > 0:12:18Three Dragons down.
0:12:18 > 0:12:22Will Deborah Meaden see enough room for growth in Gemma's company?
0:12:25 > 0:12:28I'm not being funny, but I didn't wake up this morning thinking,
0:12:28 > 0:12:30"I want to invest in intimate waxing."
0:12:30 > 0:12:33I mean, it hasn't been on my list of investments that I'm looking for.
0:12:35 > 0:12:38You know, I always say I need to feel really passionate,
0:12:38 > 0:12:40or feel something,
0:12:40 > 0:12:42- because I like to make a difference. - Yeah.
0:12:43 > 0:12:47With or without a Dragon, I just... I sense from you
0:12:47 > 0:12:49you're going to do really, really well.
0:12:49 > 0:12:51So, um, I won't be investing.
0:12:51 > 0:12:53I'm out.
0:12:55 > 0:12:57As Deborah Meaden exits the deal,
0:12:57 > 0:12:59Gemma's investment hopes
0:12:59 > 0:13:02all now rest on the freshly waxed Touker Suleyman.
0:13:04 > 0:13:05- Hi, Gemma.- My last Dragon.
0:13:05 > 0:13:08Your last Dragon! I'm the last Dragon standing.
0:13:08 > 0:13:11- Look, I mean...- How is it?
0:13:11 > 0:13:12- Super-smooth?- It's fine.
0:13:12 > 0:13:14- Comfortable?- It's actually very smooth.- Good.
0:13:14 > 0:13:17It feels really comfortable.
0:13:17 > 0:13:19I think it needs a lot of
0:13:19 > 0:13:21going around every salon, one-to-one,
0:13:21 > 0:13:23trade shows and whatever.
0:13:23 > 0:13:25And I think you're doing it.
0:13:25 > 0:13:27You know? Erm...
0:13:27 > 0:13:30Again, same, I don't think you need a Dragon.
0:13:30 > 0:13:34All you've got to do is just test the market in a much bigger market
0:13:34 > 0:13:37and see what happens. Find a distributor in America,
0:13:37 > 0:13:40because that could open whole new doors for you,
0:13:40 > 0:13:42and then let them sell it.
0:13:42 > 0:13:45And I think keep the whole business to yourself,
0:13:45 > 0:13:48because you've already got a business that could finance it.
0:13:48 > 0:13:49- I have, yes.- You know?- Yeah.
0:13:49 > 0:13:52So, therefore, you know, I wish you all the best,
0:13:52 > 0:13:54but I'm not going to invest. I'm out.
0:13:54 > 0:13:56Oh. Thank you very much.
0:13:56 > 0:13:59- PETER:- Gemma, well done.- ALL:- Well done, Gemma.- Thank you.
0:14:01 > 0:14:03It was a close shave, but in the end,
0:14:03 > 0:14:06while none of the Dragons decided to invest,
0:14:06 > 0:14:09Gemma leaves the Den with their encouraging words,
0:14:09 > 0:14:11if not their hard cash.
0:14:14 > 0:14:16I think that I gave it my best, honest, natural shot.
0:14:16 > 0:14:18That was completely me.
0:14:18 > 0:14:21That's all you can do, really.
0:14:21 > 0:14:22I've waxed many a leg,
0:14:22 > 0:14:26so it was great to add Touker to my list of people that I've waxed.
0:14:35 > 0:14:40Next in the Den is 24-year-old Rob Manley from London.
0:14:40 > 0:14:42An inventor-entrepreneur,
0:14:42 > 0:14:44he's come up with an innovation that combines
0:14:44 > 0:14:46fashion with a hi-tech twist.
0:14:46 > 0:14:48I'm fully self taught.
0:14:48 > 0:14:50Watching videos, researching on the internet.
0:14:50 > 0:14:53Ready, guys?
0:14:53 > 0:14:55'But by a bit of luck I actually created something
0:14:55 > 0:14:58'that has far surpassed what I was looking to create.'
0:14:58 > 0:15:00I've been trying to start a business for ten years,
0:15:00 > 0:15:02and I know I've got something here,
0:15:02 > 0:15:05but I just need that cash injection just to grow its potential.
0:15:17 > 0:15:22MUSIC: Here's To Everything (Ooh La La) by Misha B
0:15:43 > 0:15:46Hi. I'm Rob, the inventor and founder of Illuminated Apparel.
0:15:46 > 0:15:48I'm looking to raise £50,000
0:15:48 > 0:15:51in return for a 15% stake in my company.
0:15:51 > 0:15:54I've invented a unique luminescent ink which is up to ten times brighter
0:15:54 > 0:15:57and lasts ten times longer than comparable inks on the market.
0:15:57 > 0:16:01I've combined this with a T-shirt to create a fun interactive product
0:16:01 > 0:16:03for both adults and children.
0:16:03 > 0:16:06I took the idea to a crowdfunding platform
0:16:06 > 0:16:08to raise initial investment for production,
0:16:08 > 0:16:10and to see if there is a demand for the product.
0:16:10 > 0:16:14It was a great success, and it was 150% funded within 30 days,
0:16:14 > 0:16:18which gave the validation to take my business full-time.
0:16:18 > 0:16:20For the next six months I encountered
0:16:20 > 0:16:22numerous manufacturing problems,
0:16:22 > 0:16:25and I really wasn't happy with the design of the product,
0:16:25 > 0:16:26so I took a risk
0:16:26 > 0:16:31and shelved the product I had and went back to the drawing board.
0:16:31 > 0:16:34And I had one last solution.
0:16:34 > 0:16:36But I got it right.
0:16:36 > 0:16:39That next month, I sold £30,000 worth of T-shirts.
0:16:39 > 0:16:43They got stocked with two large gadget retailers online.
0:16:43 > 0:16:46And, also, I think there is massive potential within the children's market.
0:16:46 > 0:16:49I'm currently running the business solely by myself,
0:16:49 > 0:16:51so I'm looking for help to grow.
0:16:51 > 0:16:54Thank you very much for your time, and I look forward to your questions.
0:16:54 > 0:16:57It's an upbeat pitch for an edgy product
0:16:57 > 0:16:59from Rob Manley from London,
0:16:59 > 0:17:03who's offering 15% of his fashion and new technology business
0:17:03 > 0:17:06in return for £50,000.
0:17:08 > 0:17:10Is it a brilliant new trend in the making
0:17:10 > 0:17:13or just a faintly flickering fad?
0:17:13 > 0:17:16Food and drinks impresario Sarah Willingham
0:17:16 > 0:17:18is the first to find out more.
0:17:20 > 0:17:23So, this is a glow in the dark T-shirt?
0:17:23 > 0:17:26- Yes.- Does this just glow in the dark without the pen at the moment?
0:17:26 > 0:17:27If charged up, yes.
0:17:27 > 0:17:30So, each T-shirt has a UV key ring included
0:17:30 > 0:17:32so you've got something to draw with.
0:17:32 > 0:17:35But one of the other key factors is,
0:17:35 > 0:17:36it's not just UV light,
0:17:36 > 0:17:39you can actually use a mobile phone torchlight to draw with.
0:17:39 > 0:17:43So, in daylight, it's kind of, there is no point really?
0:17:43 > 0:17:46So, at night-time, then it becomes really cool?
0:17:46 > 0:17:50That's when it's really cool, and that's when it really kind of...
0:17:50 > 0:17:53Erm... In pitch-black it will be a lot brighter and it will last a lot longer.
0:17:53 > 0:17:55Oh, OK. God, my kids would love that.
0:17:55 > 0:17:59And how long does it last? How many times can you continue to use it?
0:17:59 > 0:18:02- So, the glow will last about 20 to 30 years.- Wow.
0:18:05 > 0:18:08The T-shirt with the long-lasting luminescence
0:18:08 > 0:18:12is getting a glowing response from the Dragons.
0:18:12 > 0:18:15And now e-commerce innovator Nick Jenkins
0:18:15 > 0:18:18wants to know more about Rob's inspiration for the product.
0:18:19 > 0:18:22Can I ask what you were doing before? Are you a chemistry graduate?
0:18:22 > 0:18:25Yeah. So, a bit of an entrepreneur background.
0:18:25 > 0:18:28I left school at 16 to start a business,
0:18:28 > 0:18:31but pretty much everything failed. Basically, I lost confidence.
0:18:31 > 0:18:34And I'm quite dyslexic, so I didn't think I was intelligent enough,
0:18:34 > 0:18:36to be honest.
0:18:36 > 0:18:39And then summer 2014 I quit my job
0:18:39 > 0:18:42and moved back to my mum's and said, "I'm going to do it this time."
0:18:42 > 0:18:44And so far I'm still doing it, so...
0:18:44 > 0:18:47What other things have you set up?
0:18:47 > 0:18:51So, I mean, just kind of importing from the Far East, you know,
0:18:51 > 0:18:53selling on their gadgets, and...
0:18:53 > 0:18:54When I see a bit of an opportunity.
0:18:54 > 0:18:57Um... And, eh...
0:18:57 > 0:19:00And then I invented this in my mum's kitchen.
0:19:00 > 0:19:03- Inventing a chemical formula is not a simple thing.- Yeah.
0:19:03 > 0:19:04How did that come about?
0:19:04 > 0:19:07I was trying to make a glow in the dark ink.
0:19:07 > 0:19:09I just sat in my mum's kitchen mixing, you know,
0:19:09 > 0:19:11different combinations up, and, erm...
0:19:11 > 0:19:15And a few months later I found something that,
0:19:15 > 0:19:17kind of, outdid my expectations.
0:19:17 > 0:19:19And then, well, I've never printed a T-shirt in my life,
0:19:19 > 0:19:22so I went to a scrapyard and got some wood
0:19:22 > 0:19:24and built a printing press.
0:19:24 > 0:19:27And then I attached a chicken oven on to a clothes rail
0:19:27 > 0:19:29which cures the ink.
0:19:29 > 0:19:32And so I made £1,000 worth of equipment for £20,
0:19:32 > 0:19:34and that's how I got going.
0:19:34 > 0:19:36Love it.
0:19:36 > 0:19:38Thank you.
0:19:38 > 0:19:42Rob enthrals the Dragons with his in-built entrepreneurial spirit
0:19:42 > 0:19:45as well as his talent for improvisation.
0:19:46 > 0:19:49But will the earth move for fashion retail magnate Touker Suleyman
0:19:49 > 0:19:52when it comes to those all-important numbers?
0:19:55 > 0:19:58So, what do you wholesale a T-shirt for?
0:19:58 > 0:20:01The adults wholesale at a standard rate of £8.
0:20:01 > 0:20:04- Right.- Six for children.
0:20:04 > 0:20:07And...the whole product,
0:20:07 > 0:20:08finished, what does that cost you?
0:20:08 > 0:20:12Erm.. It costs me £3 for adults and 2.20 for children.
0:20:12 > 0:20:15- So, you've got a margin?- Got a margin. Yes.
0:20:15 > 0:20:17Cos I'm assuming you're not making a profit.
0:20:17 > 0:20:20- The first year there was hardly any sales.- Right.
0:20:20 > 0:20:22This year we've turned over 68,000.
0:20:22 > 0:20:26Over a year, we're hopefully pushing about 120.
0:20:26 > 0:20:29That has a net of 30,000.
0:20:29 > 0:20:31But is that paying you a salary?
0:20:31 > 0:20:34Erm... It's paying me enough for food.
0:20:34 > 0:20:37- Enough for food?- Yeah.- What about shelter?
0:20:37 > 0:20:39Um... I've...
0:20:39 > 0:20:41I've been sleeping on my office floor for a year.
0:20:41 > 0:20:43Wow.
0:20:44 > 0:20:46The surprises just keep on coming,
0:20:46 > 0:20:48as Rob reveals to the Dragons
0:20:48 > 0:20:51how much he's sacrificed for his business.
0:20:51 > 0:20:55And it appears he's found an ally in former leisure tycoon
0:20:55 > 0:20:57Deborah Meaden.
0:20:59 > 0:21:04Have you talked at all to the holiday park market?
0:21:04 > 0:21:07- I haven't.- Because...- Yeah.- ..I cannot tell you how bang on this is,
0:21:07 > 0:21:10because, of course, all their customers go out all day every day,
0:21:10 > 0:21:13come back at night and what they want, they want them in the club room,
0:21:13 > 0:21:16and all of the sales are around illuminated.
0:21:16 > 0:21:18- So, you haven't talked to them at all?- No.
0:21:18 > 0:21:20So, this is another problem
0:21:20 > 0:21:23because I'm spending all my time manufacturing, I've...
0:21:23 > 0:21:26I'm not even dealing with inbound enquiries on a regular basis.
0:21:26 > 0:21:29- So, it's just you on your own? - Just me. I do everything.
0:21:32 > 0:21:34So, I really like it.
0:21:34 > 0:21:37I think you're great.
0:21:37 > 0:21:39You're sleeping on your office floor
0:21:39 > 0:21:42to make this business work.
0:21:42 > 0:21:44Well, I've got no more questions
0:21:44 > 0:21:47on how committed you are to this business.
0:21:47 > 0:21:49I don't need to know any more. That's done it.
0:21:51 > 0:21:52So, I am going to make you an offer.
0:21:52 > 0:21:54So, I'm going to offer you all of the money...
0:21:57 > 0:21:59..and I want 20% of the business...
0:22:00 > 0:22:05..because I actually think, pretty quickly, I could have a big impact on this.
0:22:05 > 0:22:08So, that's my offer to you, Rob.
0:22:08 > 0:22:10Thank you very much.
0:22:12 > 0:22:14It's a decisive offer from Deborah Meaden,
0:22:14 > 0:22:18who's confident in both Rob and the clear-cut route to market
0:22:18 > 0:22:20she has in mind for the product.
0:22:21 > 0:22:25Will Touker Suleyman, who's been in the fashion game for 40 years,
0:22:25 > 0:22:28follow suit?
0:22:28 > 0:22:32- As far as the technology....- Yeah. - ..is concerned, anybody can do it.
0:22:33 > 0:22:37Well, one of the key things is when you print a bit of glowing this big,
0:22:37 > 0:22:40it's impossible to actually make it cost-effective.
0:22:40 > 0:22:43That's something I've done.
0:22:43 > 0:22:45The second point is...
0:22:45 > 0:22:48I'm building a brand around the product, so people are starting to recognise it.
0:22:48 > 0:22:50- If it takes off...- Mmm.
0:22:50 > 0:22:54..then one of the other big promotional people will copy you.
0:22:55 > 0:22:58- Even though you may say you created the ink...- Mmm.
0:22:58 > 0:23:02..you know, this sort of technology can easily be copied, as you know.
0:23:02 > 0:23:06And I think, for that reason, I'm not going to invest and I'm out.
0:23:06 > 0:23:08Thank you very much.
0:23:08 > 0:23:11Touker Suleyman is the first to walk,
0:23:11 > 0:23:15concerned about copycat products taking the wind out of Rob's sales.
0:23:16 > 0:23:19Does Peter Jones also see the writing on the wall
0:23:19 > 0:23:20for the techie T-shirt?
0:23:24 > 0:23:26Rob, I think it's great.
0:23:26 > 0:23:29I love the story. I love the journey...
0:23:29 > 0:23:31I don't know how big it can become.
0:23:31 > 0:23:32But I'm not just offering T-shirts.
0:23:32 > 0:23:35I'm offering the technology behind it, so if I had more time
0:23:35 > 0:23:37I could develop a paint,
0:23:37 > 0:23:40and I think there's numerous children's products that...
0:23:40 > 0:23:42You could create a whole separate brand with that ink
0:23:42 > 0:23:46and that's, you know, that's a game-changer, the ink.
0:23:49 > 0:23:52I don't have the same...
0:23:52 > 0:23:56interest or ambition, perhaps, for the product as you do.
0:23:56 > 0:23:59So, sadly...
0:23:59 > 0:24:01I'm out.
0:24:02 > 0:24:04- Thank you.- NICK:- Rob...
0:24:04 > 0:24:07I think Deborah's vision of where you could take this
0:24:07 > 0:24:10was probably better than any vision that I would have.
0:24:10 > 0:24:13And I just love the idea of Deborah doing it large in a nightclub.
0:24:13 > 0:24:15LAUGHTER
0:24:15 > 0:24:17So, I'm out.
0:24:17 > 0:24:19Thank you.
0:24:20 > 0:24:23Investment interest is quickly fading,
0:24:23 > 0:24:27as Nick Jenkins becomes the third Dragon to turn down the deal.
0:24:27 > 0:24:31But Deborah Meaden's offer is still on the table
0:24:31 > 0:24:34and Sarah Willingham has yet to come to a decision.
0:24:37 > 0:24:39Rob, I think what you've produced is brilliant.
0:24:39 > 0:24:40Everybody's going to want one.
0:24:41 > 0:24:43I'm actually going to...
0:24:46 > 0:24:48Oh, I was nearly going to change my mind, then.
0:24:54 > 0:24:57I...
0:24:57 > 0:24:59Deborah very, very quickly...
0:25:02 > 0:25:04..can get this very, very far.
0:25:05 > 0:25:09It wouldn't have even crossed my mind, holiday parks wouldn't have,
0:25:09 > 0:25:12if I'm being completely honest.
0:25:12 > 0:25:15I actually think you should take up Deborah's offer.
0:25:15 > 0:25:20So... Yeah, I'm going to buy loads, but I am not going to invest.
0:25:20 > 0:25:22- Thank you.- So, good luck, but I'm out.- Cheers.
0:25:25 > 0:25:27A rare show of Dragon deference
0:25:27 > 0:25:29as Sarah Willingham chooses not to compete
0:25:29 > 0:25:32against the leisure industry expert,
0:25:33 > 0:25:36Now Rob must decide whether to accept Deborah Meaden's offer
0:25:36 > 0:25:40of all the money for 20% of his company,
0:25:40 > 0:25:435% more than he wanted to give away.
0:25:51 > 0:25:52Deborah, I would like to accept your offer.
0:25:52 > 0:25:55Excellent! I've got... You could see how excited I was about it.
0:25:55 > 0:25:57- Oh, yeah.- I'm really pleased. - So excited.
0:25:57 > 0:25:59- Thank you very much.- PETER:- Well done, Rob.
0:25:59 > 0:26:01- ALL:- Well done. - SARAH:- Congratulations.
0:26:01 > 0:26:03As Rob exits the Den with a deal,
0:26:03 > 0:26:06it looks as if there's light at the end of the tunnel,
0:26:06 > 0:26:08and a bright future ahead for him.
0:26:11 > 0:26:14- PETER:- You were very excited.- Very excited.- He was on top of the detail as well.
0:26:14 > 0:26:17Yeah, he was. That wasn't just somebody with a story,
0:26:17 > 0:26:21that was actually somebody who's really got it. Great!
0:26:21 > 0:26:23I can't believe it. It's... I built this business from the ground up
0:26:23 > 0:26:26and to have someone of her calibre
0:26:26 > 0:26:29to be part of the business just means so much to me.
0:26:29 > 0:26:30It's life-changing.
0:26:36 > 0:26:39Another entrepreneur hoping to win a life-changing investment
0:26:39 > 0:26:42was Joanna Miller from Hertfordshire,
0:26:42 > 0:26:45with her bespoke gift range business.
0:26:45 > 0:26:48And she certainly had a way with words.
0:26:48 > 0:26:49I'm Joanna Miller
0:26:49 > 0:26:51and I'm here to pitch
0:26:51 > 0:26:54to Dragons, talented and rich
0:26:54 > 0:26:56to coax, convince and to converse
0:26:56 > 0:26:59about my business Bespoke Verse.
0:26:59 > 0:27:01The deal that I would like to make
0:27:01 > 0:27:04is for a 20% equity stake.
0:27:04 > 0:27:06I'm offering that upon the grounds
0:27:06 > 0:27:09of an investment of 50,000 pounds.
0:27:09 > 0:27:12I feel I should applaud. That's brilliant!
0:27:12 > 0:27:14LAUGHTER AND APPLAUSE
0:27:16 > 0:27:19Joanna was asking for £50,000
0:27:19 > 0:27:23for 20% of her rhyme-themed gift business.
0:27:23 > 0:27:24And one Dragon, it seems,
0:27:24 > 0:27:28was inspired to respond to the entrepreneur in kind.
0:27:30 > 0:27:33I've always got a great belief that you should never say never,
0:27:33 > 0:27:37but I have to say I thought your pitch was very clever.
0:27:37 > 0:27:39LAUGHTER
0:27:40 > 0:27:42But the king of personalised gifting
0:27:42 > 0:27:44opted for a bit more straight talking
0:27:44 > 0:27:47when it came to the cost of scaling her business.
0:27:47 > 0:27:50I know that £50,000 is just
0:27:50 > 0:27:52nowhere near enough.
0:27:52 > 0:27:55Moonpig lost £2.5 million before it made a profit.
0:27:55 > 0:27:57That's what it cost to set it up.
0:27:57 > 0:27:59Now, that's a massive investment.
0:28:00 > 0:28:03Leaving his quill and ink aside,
0:28:03 > 0:28:06Peter Jones was ready to deliver a verdict.
0:28:06 > 0:28:09I'm going to be really brutal here
0:28:09 > 0:28:13and say that I don't think you've got a business.
0:28:13 > 0:28:16I think you've got an archive of beautiful words and poems,
0:28:16 > 0:28:18and there's your potential opportunity.
0:28:18 > 0:28:21But I think this is a real uphill struggle,
0:28:21 > 0:28:24and so for that reason I'm out.
0:28:24 > 0:28:26As Peter Jones closed the book on a deal,
0:28:26 > 0:28:30Deborah Meaden and Touker Suleyman pondered.
0:28:30 > 0:28:34The trouble is your uniqueness is a strength and a weakness.
0:28:34 > 0:28:39I can't see it growing unless I gave you a lot of time.
0:28:39 > 0:28:41I think it's going to stay niche,
0:28:41 > 0:28:44and I think you need to keep focused on what happens next.
0:28:44 > 0:28:46As the Den prevaricated,
0:28:46 > 0:28:50a restless Peter Jones had another burst of the Bard.
0:28:50 > 0:28:52I've written here,
0:28:52 > 0:28:54"I'm really trying to be strong,
0:28:54 > 0:28:56"but are you all going to take so long?"
0:28:56 > 0:28:57LAUGHTER
0:28:57 > 0:29:00"Since I'm about to shout,
0:29:00 > 0:29:02"please tell us all if you're in or out."
0:29:02 > 0:29:04LAUGHTER
0:29:04 > 0:29:06And without further delay,
0:29:06 > 0:29:08the Dragons finally concluded
0:29:08 > 0:29:10that rhyme doesn't pay.
0:29:10 > 0:29:13I'm really sorry, but I'm out.
0:29:13 > 0:29:15- OK.- I'm afraid I'm out.
0:29:15 > 0:29:17Good luck, but I'm out.
0:29:17 > 0:29:19Did you get your mug out of your bag?
0:29:19 > 0:29:21- No.- Yeah, well hold on.
0:29:21 > 0:29:23Because, had you... I'm really, really sorry,
0:29:23 > 0:29:26but I'm going to be saying these two words...
0:29:27 > 0:29:29..I'm out.
0:29:32 > 0:29:34Still to come...
0:29:34 > 0:29:35Lost In Space...
0:29:35 > 0:29:36What else have you invented?
0:29:36 > 0:29:40I have a parachute system I'm looking at taking to, er...
0:29:40 > 0:29:42NASA.
0:29:42 > 0:29:43..Enter The Dragon...
0:29:43 > 0:29:47We're absolutely on the same page there. You are speaking my language.
0:29:47 > 0:29:48..and The Colour Of Money.
0:29:48 > 0:29:51I like what I see, so I'm going to make you an offer.
0:29:55 > 0:29:59Next, into the Den is Simon Moore from Blackburn in Lancashire.
0:29:59 > 0:30:02Simon has a long list of inventions behind him
0:30:02 > 0:30:04but every serial inventor
0:30:04 > 0:30:08hopes to strike gold with that big idea.
0:30:08 > 0:30:09So has Simon found the one
0:30:09 > 0:30:12that could make him rich and the Dragons richer?
0:30:17 > 0:30:19I'm definitely a mad inventor.
0:30:19 > 0:30:22I think an inventor just sees the outside world
0:30:22 > 0:30:23and finds things to change.
0:30:24 > 0:30:26Once you get that eureka moment,
0:30:26 > 0:30:29you can't believe you've created something
0:30:29 > 0:30:31that's so simple that somebody hasn't already done.
0:30:31 > 0:30:35This product's going to be too big for me on my own.
0:30:35 > 0:30:37But will the Dragons be prepared
0:30:37 > 0:30:39to help the business take off
0:30:39 > 0:30:41and propel it into profit?
0:30:50 > 0:30:52Hi, Dragons. My name is Simon Moore.
0:30:52 > 0:30:58I'm here today to raise £80,000 for 20% of my new invention.
0:30:59 > 0:31:01I'm a prolific inventor.
0:31:01 > 0:31:03One of my inventions is based on these...
0:31:05 > 0:31:07..the plastic cable ties.
0:31:07 > 0:31:11They were dumped outside one of our national superstores.
0:31:11 > 0:31:12There were thousands of them.
0:31:12 > 0:31:15They'd be there for the next 500 years if I hadn't picked them up.
0:31:15 > 0:31:18There's approximately 100 billion cable ties
0:31:18 > 0:31:20produced around the world each year.
0:31:20 > 0:31:24Research has shown around 77% of all those cable ties
0:31:24 > 0:31:27will go to landfill in less than one year.
0:31:27 > 0:31:29Why isn't there a biodegradable alternative?
0:31:29 > 0:31:31The answer is simple...
0:31:32 > 0:31:33..they can't make one.
0:31:35 > 0:31:37And so this is mine.
0:31:37 > 0:31:40This is the first cable tie in the world
0:31:40 > 0:31:44that is not only biodegradable but compostable.
0:31:44 > 0:31:47We've not spent one single penny on advertising.
0:31:47 > 0:31:50We've had B&Q, Tesco,
0:31:50 > 0:31:55ASDA and Marks & Spencer all approach us for our cable tie.
0:31:55 > 0:31:57I'm very passionate about the type of environment
0:31:57 > 0:31:58I'm going to leave my children.
0:31:58 > 0:32:01I know each and every one of you here
0:32:01 > 0:32:05can help in some way to stop our rivers, our streams,
0:32:05 > 0:32:09our oceans and our streets being clogged with cable ties.
0:32:10 > 0:32:11Thank you very much for listening.
0:32:11 > 0:32:13I'd like to give you a couple of samples.
0:32:15 > 0:32:20A heart-felt and gutsy pitch from Blackburn-based Simon Moore.
0:32:20 > 0:32:22He's asking for £80,000
0:32:22 > 0:32:26in return for 20% of the biodegradable cable tie business.
0:32:27 > 0:32:30The product designer claims to have invented
0:32:30 > 0:32:33the only one of its type in the world.
0:32:33 > 0:32:37But in the Den, even inventions with the noblest of intentions
0:32:37 > 0:32:40have to be strong enough to survive a Peter Jones pressure test.
0:32:42 > 0:32:44Have you given me a trick one?
0:32:44 > 0:32:45No.
0:32:45 > 0:32:46You can't even move that.
0:32:49 > 0:32:50Do you want me to?
0:32:50 > 0:32:52Yeah. I thought, I'm strong.
0:32:52 > 0:32:53I pushed it in originally.
0:32:53 > 0:32:55But you can't do that, can you?
0:32:56 > 0:32:59- Here...- What's the point of giving it to me?
0:32:59 > 0:33:01Oh, don't use your teeth.
0:33:01 > 0:33:02Got it working now. Sorry.
0:33:02 > 0:33:05It's the original prototypes.
0:33:05 > 0:33:07I've been making them in my shed, basically.
0:33:07 > 0:33:09This is what I need the money for, for the tooling.
0:33:09 > 0:33:10You're not kidding.
0:33:14 > 0:33:17What's unique about it is what it's made from.
0:33:17 > 0:33:21Yes, definitely. It's actually potato starch, potato-starch based.
0:33:21 > 0:33:24This polymer acts like a normal plastic.
0:33:24 > 0:33:26It's not until it goes to landfill
0:33:26 > 0:33:28that the microbes start to degrade it.
0:33:29 > 0:33:30It's got a UK patent.
0:33:30 > 0:33:33I would believe we're just about to be granted in the US as well.
0:33:33 > 0:33:35And the patent is for what?
0:33:35 > 0:33:38A normal cable tie has this little port inside the head.
0:33:38 > 0:33:40That little port inside the head,
0:33:40 > 0:33:44the polymer doesn't flow inside the normal standard cable tie.
0:33:44 > 0:33:48That has a flap that can be entered from either side.
0:33:48 > 0:33:49That's been patented.
0:33:51 > 0:33:54So, the link between the polymer and the patent
0:33:54 > 0:33:56is that in order to use the polymer
0:33:56 > 0:33:58you would have to redesign the head,
0:33:58 > 0:34:01and that is the bit that you have the patent on?
0:34:01 > 0:34:02Yeah.
0:34:03 > 0:34:04A hurdle cleared,
0:34:04 > 0:34:09as Simon appears to have satisfied the Dragons on his product's USP.
0:34:10 > 0:34:14Now, Deborah Meaden wants to explore the claims Simon made
0:34:14 > 0:34:17about interest from big brand retailers.
0:34:19 > 0:34:20I'd like to understand where you are,
0:34:20 > 0:34:24because you were talking about people like B&Q, Tesco, ASDA.
0:34:24 > 0:34:27How did they approach you if you're not yet out there?
0:34:27 > 0:34:30- Social media.- So it's in prototype.
0:34:30 > 0:34:33You've been talking about it, and you've had interaction
0:34:33 > 0:34:37with a long list of people that you said were interested in the product.
0:34:37 > 0:34:39OK. What else have you invented?
0:34:39 > 0:34:40I have...
0:34:42 > 0:34:44..a new surfboard.
0:34:44 > 0:34:48It helps catch waves quicker, easier.
0:34:48 > 0:34:51- Did he say surfboard then?- Yeah, surfboard. He did say surfboard.
0:34:52 > 0:34:53Anything else?
0:34:53 > 0:34:58I have a parachute system I'm looking at taking to NASA.
0:34:58 > 0:35:00I'm not sure I dare ask.
0:35:00 > 0:35:03Other than inventing, how do you earn your money then?
0:35:03 > 0:35:06I've just released my first novel.
0:35:06 > 0:35:09But mainly I renovate property.
0:35:09 > 0:35:10What's this novel?
0:35:10 > 0:35:13In Greek Mythology there's something called an Eidolon.
0:35:13 > 0:35:15Basically, their job is to look after the Earth,
0:35:15 > 0:35:17and any natural disasters, they'll go and repair.
0:35:17 > 0:35:19So, you're writing novels,
0:35:19 > 0:35:23you've got a parachute invention, a surfboard invention.
0:35:24 > 0:35:26- LAUGHS:- Sorry.- I know!
0:35:26 > 0:35:27Simon, you're fabulous.
0:35:27 > 0:35:30DEBORAH LAUGHS
0:35:31 > 0:35:34Still no cash for the cable tie,
0:35:34 > 0:35:36but Simon's passion for inventing
0:35:36 > 0:35:38is at least winning him friends in the Den.
0:35:39 > 0:35:42And he's certainly got Touker Suleyman pondering.
0:35:45 > 0:35:49Simon, # Da-da, da-da, da-da-da. #
0:35:49 > 0:35:52- What's that?- Was it Simon Templar?
0:35:52 > 0:35:54- No, James Bond.- James Bond.
0:35:54 > 0:35:55Missed that one.
0:35:55 > 0:35:56I think you should go for an audition
0:35:56 > 0:35:59for James Bond for the inventions.
0:35:59 > 0:36:01Because I really think you're like a mad scientist.
0:36:01 > 0:36:03Q. It's Q, isn't it?
0:36:03 > 0:36:04That stuff has to work, though.
0:36:04 > 0:36:08Like, the world depends on James Bond's inventions working.
0:36:08 > 0:36:10Look, I'm in the clothing business.
0:36:10 > 0:36:12And we use a lot of these
0:36:12 > 0:36:16to transport products in transportation,
0:36:16 > 0:36:19keep them together, and the clothing business is probably
0:36:19 > 0:36:21the most competitive business in the world.
0:36:22 > 0:36:24Every penny counts.
0:36:24 > 0:36:27- Yeah.- So what does that cost to produce?
0:36:27 > 0:36:29They're about a penny.
0:36:30 > 0:36:31What did that cost to produce?
0:36:31 > 0:36:32About a penny.
0:36:32 > 0:36:34A penny and a quarter.
0:36:34 > 0:36:36Hold on, so that's much heavier than that.
0:36:36 > 0:36:40You're saying that it's heavier, and it's going to be the same price.
0:36:40 > 0:36:42The sums don't add up.
0:36:47 > 0:36:48I'm out.
0:36:50 > 0:36:53Harsh criticism from Touker Suleyman,
0:36:53 > 0:36:55who is the first Dragon out,
0:36:55 > 0:36:58casting doubt over Simon's grip on potential costs
0:36:58 > 0:37:01for the eco-modifications.
0:37:01 > 0:37:03And now Peter Jones wants to know
0:37:03 > 0:37:06whether any of Simon's multifarious inventions
0:37:06 > 0:37:10have actually ventured out of the garden shed.
0:37:10 > 0:37:13Simon, have you ever invented something
0:37:13 > 0:37:15that has ended up commercially making you money?
0:37:15 > 0:37:16No.
0:37:19 > 0:37:23How many inventions have you come up with over how many years?
0:37:23 > 0:37:2530, 40.
0:37:25 > 0:37:2630 to 40 inventions?
0:37:26 > 0:37:28Probably more, in fact.
0:37:28 > 0:37:30- Over how many years?- 30 years.
0:37:30 > 0:37:33So you've been 30 years inventing.
0:37:33 > 0:37:3540-odd products, but not one yet.
0:37:35 > 0:37:37You think this could be it?
0:37:37 > 0:37:39Yes, definitely.
0:37:40 > 0:37:43Your track record of turning things into reality is...
0:37:45 > 0:37:46..patchy, to say the least.
0:37:46 > 0:37:49It's, it is all down to money.
0:37:49 > 0:37:51But there's also an element of common sense,
0:37:51 > 0:37:52which is that if you want to make money,
0:37:52 > 0:37:54you focus on one thing, do it well.
0:37:54 > 0:37:56Don't suddenly start to try and invent a parachute
0:37:56 > 0:37:57in the middle of your project.
0:37:57 > 0:37:59Cos you can't afford that product not to work,
0:37:59 > 0:38:00like this one.
0:38:02 > 0:38:05So, you've not shown us enough about this one.
0:38:05 > 0:38:06I'd love it if you could.
0:38:06 > 0:38:08You've not shown us enough to make us think it's investable.
0:38:08 > 0:38:09I'm out.
0:38:12 > 0:38:14Nick Jenkins joins Touker Suleyman
0:38:14 > 0:38:17in declining the opportunity to invest.
0:38:17 > 0:38:19Will Sarah Willingham be prepared
0:38:19 > 0:38:23to tie up a deal with the irrepressible inventor?
0:38:23 > 0:38:25Simon, you said earlier
0:38:25 > 0:38:29that the manufacturers are fully aware that this is a problem,
0:38:29 > 0:38:31and that they have tried
0:38:31 > 0:38:34- to make it out of a biodegradable product...- Yeah.
0:38:34 > 0:38:36- ..but have failed.- Yes.
0:38:36 > 0:38:38I just don't buy that.
0:38:38 > 0:38:42There are people in the world that are such experts at this.
0:38:42 > 0:38:47And we're talking about a little piddly bit of something or other.
0:38:47 > 0:38:48What you've done, in fact...
0:38:48 > 0:38:50It's just that little flap.
0:38:50 > 0:38:54..is just made it slightly more flappy than the existing one.
0:38:54 > 0:38:57That is actually it, isn't it?
0:38:57 > 0:39:01So I don't buy that people that do this for a living,
0:39:01 > 0:39:03they've just gone, "No, we can't do it."
0:39:03 > 0:39:05It doesn't make any sense to me.
0:39:08 > 0:39:11So, keep tinkering away,
0:39:11 > 0:39:12but I'm afraid I'm not going to invest.
0:39:12 > 0:39:13I'm out.
0:39:16 > 0:39:18Another Dragon out.
0:39:18 > 0:39:20Will Peter Jones be prepared
0:39:20 > 0:39:23to put the issue of his failed prototype to one side,
0:39:23 > 0:39:26and join Simon's cable-tie revolution?
0:39:29 > 0:39:31The sad thing about inventions
0:39:31 > 0:39:35is that you do live and die by your sword, really.
0:39:35 > 0:39:38You know, if your product breaks or your product doesn't work.
0:39:38 > 0:39:42That was my one fear today because of getting the bubbles in.
0:39:42 > 0:39:44And that's the problem.
0:39:44 > 0:39:48Simon, I can't invest in something that just doesn't work.
0:39:48 > 0:39:49So I'm going to say that I'm out.
0:39:51 > 0:39:55I suspect that the reason that they can't make it work
0:39:55 > 0:39:57is actually nothing to do with your toggle.
0:39:57 > 0:40:00I think it's to do with the fact it's so blinking brittle.
0:40:00 > 0:40:05This is probably the third one I've tried.
0:40:05 > 0:40:06But they can blend that.
0:40:06 > 0:40:09So they can blend it from quite a rubbery polymer
0:40:09 > 0:40:11to a quite stiff polymer, so anywhere in between.
0:40:11 > 0:40:15- This is why...- But they haven't.- I need to take it to the right people.
0:40:15 > 0:40:16If you'd come in here
0:40:16 > 0:40:20with the answer to biodegradable cable ties,
0:40:20 > 0:40:23I'd have thrown all of that money in your pocket immediately
0:40:23 > 0:40:24and said, "Let's do it."
0:40:24 > 0:40:27But you are nowhere near solving the problem.
0:40:27 > 0:40:32If I thought this even had a 50% chance of being the answer,
0:40:32 > 0:40:34I might be tempted to invest.
0:40:34 > 0:40:37So, Simon, I wish I could, but I can't invest.
0:40:37 > 0:40:39- I'm out.- Thank you very much for your time.
0:40:44 > 0:40:47In the end, Simon tied himself up in too many knots,
0:40:47 > 0:40:50and he leaves the Den without an investment.
0:40:50 > 0:40:52Shaken, but not stirred.
0:40:53 > 0:40:56Touker, I don't think it was James Bond you were thinking about.
0:40:56 > 0:40:57You were thinking of Austin Powers.
0:40:57 > 0:41:00- You're probably right.- You'd be a perfect Mike Myers.
0:41:00 > 0:41:02THEY LAUGH
0:41:02 > 0:41:04I knew if anything would let it down,
0:41:04 > 0:41:06then it would be those prototypes.
0:41:06 > 0:41:08I felt that
0:41:08 > 0:41:11sometimes they don't just invest in a product,
0:41:11 > 0:41:12they invest in people,
0:41:12 > 0:41:17and, potentially, I could bring other products to the market
0:41:17 > 0:41:19worth millions, if not billions.
0:41:19 > 0:41:21So I think they missed out there.
0:41:28 > 0:41:32Our final entrepreneur in the Den is London-based Oliver Gauci.
0:41:32 > 0:41:37He's hoping to entice the Dragons with a mix of gloss and glam
0:41:37 > 0:41:39on his interactive beauty website,
0:41:39 > 0:41:41where his monthly subscribers
0:41:41 > 0:41:44receive make-up bags crammed with cosmetics.
0:41:49 > 0:41:52My drive has got us to knock down walls,
0:41:52 > 0:41:55going into an industry where we don't know anyone.
0:41:55 > 0:41:57I am very optimistic I will do well.
0:41:58 > 0:42:02But Oliver knows there's one large stumbling block
0:42:02 > 0:42:03he's going to have to overcome.
0:42:03 > 0:42:06My biggest challenge in the Den, without a doubt,
0:42:06 > 0:42:08is going to be valuation.
0:42:08 > 0:42:12I'm going to have to, A, prove the value of the business
0:42:12 > 0:42:15and, B, make sure that I get a good deal, as well as them.
0:42:22 > 0:42:24Good afternoon, Dragons.
0:42:24 > 0:42:29Today I'm looking for £80,000 for 3% in my company, Love Me Beauty.
0:42:29 > 0:42:31We're a 360 marketing platform,
0:42:31 > 0:42:35we work for over 100 cosmetic and lifestyle brands.
0:42:35 > 0:42:39We engage, we educate and we allow consumers to discover brands.
0:42:39 > 0:42:41We're a closed membership website.
0:42:41 > 0:42:43We profile the consumer, so as you can see,
0:42:43 > 0:42:47we ask them a number of questions from the skin type, hair type,
0:42:47 > 0:42:48disposable income.
0:42:48 > 0:42:52After completing profiling, we then go into our recommendations,
0:42:52 > 0:42:54completely free of charge.
0:42:54 > 0:42:57Then, if they wish, they can then upgrade to a premium membership.
0:42:57 > 0:43:01So, for £10 a month, you get £45 worth of products.
0:43:01 > 0:43:05I've got 92,000 registered members on my platform.
0:43:05 > 0:43:08We've got 5,000 premium members.
0:43:08 > 0:43:12Last month we took in £52,000 and made our first profit.
0:43:12 > 0:43:15We are working for a very exclusive retailer at the moment.
0:43:15 > 0:43:18This retailer is the biggest retailer
0:43:18 > 0:43:20in the country for cosmetics.
0:43:20 > 0:43:23And it all started from picking and packing boxes from my garage.
0:43:23 > 0:43:24Thank you very much for your time.
0:43:24 > 0:43:27I would like to hand out a few make-up bags
0:43:27 > 0:43:29so you can see the quality of products we represent.
0:43:31 > 0:43:33An online beauty business
0:43:33 > 0:43:37that delivers the latest cosmetic trends straight to your door
0:43:37 > 0:43:40is the proposition from Londoner, Oliver Gauci.
0:43:40 > 0:43:42Thank you.
0:43:42 > 0:43:46He's looking for £80,000 for just a 3% stake in his company.
0:43:48 > 0:43:50Can he convince the Dragons
0:43:50 > 0:43:53that his business is worth the £2.7 million price tag?
0:43:56 > 0:43:58Deborah Meaden is first with the questions.
0:44:00 > 0:44:01Hello, Oliver.
0:44:01 > 0:44:03So, it's an interactive website
0:44:03 > 0:44:06where I can tell you all about me,
0:44:06 > 0:44:08and then you can, hopefully, match me with a product
0:44:08 > 0:44:13that would suit me, not just my skin type and my hair type and whatever,
0:44:13 > 0:44:16but also my purse, my disposable income?
0:44:16 > 0:44:20- Exactly.- So, your revenue model then, where do you make money?
0:44:20 > 0:44:22At the moment, we make it through a subscription base.
0:44:22 > 0:44:24Which is your £10 a month?
0:44:24 > 0:44:28- Exactly.- Then you said something like, for that, you get £45...
0:44:28 > 0:44:29Worth of products.
0:44:29 > 0:44:34So, I spend £10 with you, and every month I spend £10,
0:44:34 > 0:44:36I get £45 of products.
0:44:36 > 0:44:38That's correct.
0:44:38 > 0:44:39So, I'll spend £120,
0:44:39 > 0:44:41and I will get over £500 worth of products during the year.
0:44:41 > 0:44:42That's right.
0:44:42 > 0:44:45So, what does that cost you?
0:44:45 > 0:44:47When we first started, we used to make contributions to the product.
0:44:47 > 0:44:50Now we're getting products for free from the brands
0:44:50 > 0:44:51because of our sites.
0:44:51 > 0:44:55Oh, I see. They're almost using you as a trial.
0:44:55 > 0:44:56Exactly.
0:44:58 > 0:45:01I guess what I'm looking for...
0:45:01 > 0:45:02You know, I can't ignore the fact...
0:45:04 > 0:45:07..that you've asked for £80,000 for 3%, so I guess...
0:45:07 > 0:45:10I'm just looking for the thing.
0:45:10 > 0:45:12The main source of income at the moment is subscription.
0:45:12 > 0:45:14Yeah, but how much is that?
0:45:14 > 0:45:16Well, we made £52,000 out of that.
0:45:16 > 0:45:18Made? That's profit?
0:45:18 > 0:45:21No, £52,000 in terms of revenue.
0:45:21 > 0:45:25The first profit we made was about £1,500.
0:45:25 > 0:45:28Sorry, you've made so far...
0:45:28 > 0:45:30Last month, we started loss-making,
0:45:30 > 0:45:31but now we're in the point
0:45:31 > 0:45:34where we're making profitability month on month.
0:45:34 > 0:45:37Now we've got Debenhams, which is very big for us,
0:45:37 > 0:45:39because Debenhams is going to be backing us.
0:45:39 > 0:45:41Not only do we have our database,
0:45:41 > 0:45:44they're going to start pushing us throughout their database,
0:45:44 > 0:45:49so even if we hit one or 2% of that database, as you can imagine,
0:45:49 > 0:45:51that makes us a major player in the market,
0:45:51 > 0:45:53the biggest player in the UK.
0:45:55 > 0:45:59The beauty entrepreneur justifies his modest turnover
0:45:59 > 0:46:02and exuberant valuation by revealing
0:46:02 > 0:46:06a potentially lucrative relationship with a big-name retailer.
0:46:06 > 0:46:09And while the £2.7 million valuation
0:46:09 > 0:46:12remains the elephant in the Den,
0:46:12 > 0:46:16Sarah Willingham wants Oliver to explain the nuts and bolts
0:46:16 > 0:46:17of this high-street hook-up.
0:46:21 > 0:46:24Oliver, if we can just park the valuation for a second,
0:46:24 > 0:46:27cos clearly, that's very punchy, to say the least.
0:46:27 > 0:46:29So, you work with the retailers.
0:46:29 > 0:46:32So, explain that to me again, slowly,
0:46:32 > 0:46:34how that actually works on a day-to-day basis.
0:46:34 > 0:46:37So, the retailer, with their database, will be promoting us.
0:46:37 > 0:46:39Why are they doing that?
0:46:39 > 0:46:40Why are they doing that?
0:46:40 > 0:46:42Because we're working with their brands
0:46:42 > 0:46:44who are exclusive to them.
0:46:44 > 0:46:47If they promote us, we can engage and educate their consumer base,
0:46:47 > 0:46:51so we've produced videos for YouTube, Facebook, Instagram.
0:46:51 > 0:46:55Have you actually done that which has resulted in new subscribers?
0:46:55 > 0:46:57So, we did that with Make-up For Everyone,
0:46:57 > 0:47:01an exclusive brand to Debenhams, and we grew by 1,000 new subscribers.
0:47:01 > 0:47:04So, you get people signing up for a subscription, that's 1,000 people,
0:47:04 > 0:47:06and it costs you nothing.
0:47:06 > 0:47:09Make-up For Everyone, hopefully, get a new loyal customer
0:47:09 > 0:47:10and Debenhams, hopefully,
0:47:10 > 0:47:12are getting people to go back into Make-up Forever.
0:47:12 > 0:47:14So it's like a win-win for everybody?
0:47:14 > 0:47:15That's correct.
0:47:18 > 0:47:20When it comes to his business model,
0:47:20 > 0:47:23it seems that Oliver has all the bases covered,
0:47:23 > 0:47:27producing marketing materials for the retailers and brands
0:47:27 > 0:47:30who promote his website in return.
0:47:30 > 0:47:33But e-commerce millionaire Nick Jenkins
0:47:33 > 0:47:35wants to know if he's equally confident
0:47:35 > 0:47:37when it comes to his numbers.
0:47:39 > 0:47:41I want to know where this business is going to be in three years' time.
0:47:41 > 0:47:43So, talk me through the next three years.
0:47:43 > 0:47:47OK, we're on target to hit £780,000 this year.
0:47:47 > 0:47:51- Yeah.- So, we are looking to take in terms of gross,
0:47:51 > 0:47:54which is 580,000 and the first profit, 90,000.
0:47:54 > 0:47:59Next year, we're looking to take 2.2 million, 1.4 in terms of gross,
0:47:59 > 0:48:01we're looking to make a profit of 500 grand.
0:48:01 > 0:48:05Year after, bear in mind, now we're going international here,
0:48:05 > 0:48:07we're looking to make 6.2 million
0:48:07 > 0:48:10and we're looking to making gross 4.4
0:48:10 > 0:48:12and a profit of 1.2 million.
0:48:13 > 0:48:15If you were to achieve that, 1.2 million...
0:48:15 > 0:48:18I think we'd all be very happy here.
0:48:18 > 0:48:21..we'd be looking at a business worth 12 million,
0:48:21 > 0:48:24investing at three, four times.
0:48:24 > 0:48:26There's a possibility of a four times return.
0:48:29 > 0:48:32It's an impressive potential yield.
0:48:32 > 0:48:36But will the figures play out that way in reality?
0:48:36 > 0:48:38Sarah Willingham is unconvinced.
0:48:40 > 0:48:44Where I have a real problem is, those numbers for year three,
0:48:44 > 0:48:47it's an enormous leap, enormous.
0:48:47 > 0:48:52Give me examples of businesses that have done this successfully.
0:48:52 > 0:48:55I'm like everybody else, I'm looking at that 80 grand for 3% is mad.
0:48:57 > 0:49:00There's a similar cosmetic brand in the US.
0:49:00 > 0:49:05They've just got valued at, I think, just close to 800 million.
0:49:05 > 0:49:06HE WHISTLES
0:49:06 > 0:49:08OK, so, what is their business model?
0:49:08 > 0:49:11- How much do you pay a month?- You pay about 10.
0:49:11 > 0:49:12How long have they been going for?
0:49:12 > 0:49:14They've been going for about a year and a half.
0:49:14 > 0:49:15A year and a half?
0:49:15 > 0:49:17Yeah, a year and a half to two years.
0:49:17 > 0:49:19Good God, that's insane.
0:49:19 > 0:49:20No, it's serious money.
0:49:22 > 0:49:25The revelation that a similar company in the States
0:49:25 > 0:49:28has so speedily seen a huge hike in profits
0:49:28 > 0:49:32has left the Dragons considering the potential for Oliver's business
0:49:32 > 0:49:33this side of the pond.
0:49:35 > 0:49:36But for Touker Suleyman,
0:49:36 > 0:49:39the thorny issue of that hefty company valuation
0:49:39 > 0:49:41is still a sticking point.
0:49:46 > 0:49:52Oliver, you have come up with a very, very spicy valuation.
0:49:52 > 0:49:56If I had to value the business as I see it, I'd change the valuation.
0:49:56 > 0:49:58OK.
0:49:58 > 0:50:01List out what you want the Dragon to do,
0:50:01 > 0:50:03and what doors do you want opened
0:50:03 > 0:50:05so we totally understand.
0:50:05 > 0:50:08No, of course. I need people to help shape up the business
0:50:08 > 0:50:10so it's scalable.
0:50:10 > 0:50:12I want to take the company international.
0:50:12 > 0:50:14I don't have the experience to do that.
0:50:14 > 0:50:17- How big is your team?- Five people.
0:50:17 > 0:50:19- Five people?- My average age is 24 years old,
0:50:19 > 0:50:22but we're almost there in order to take it to the next level.
0:50:22 > 0:50:24Like I said, we're now profitable.
0:50:26 > 0:50:29Oliver, at the end of the day,
0:50:29 > 0:50:33your figures tell me that you're just breaking even.
0:50:33 > 0:50:37You valuation is way out, but I like what I see,
0:50:37 > 0:50:39so I'll make you an offer.
0:50:41 > 0:50:43I'll give you all the money for 25%.
0:50:45 > 0:50:47Thank you very much.
0:50:52 > 0:50:56Touker Suleyman's offer of all the cash for 25%
0:50:56 > 0:51:00sees Oliver's company valuation slashed by more than £2 million.
0:51:02 > 0:51:07It's an audacious bid and way above the 3% Oliver wanted to give away.
0:51:08 > 0:51:12Nick Jenkins was enthused by Oliver's financial projections.
0:51:12 > 0:51:16Will he be tempted to make a more attractive offer?
0:51:16 > 0:51:19I'm very impressed with your grasp and understanding
0:51:19 > 0:51:21of online customer acquisition.
0:51:21 > 0:51:23You're extremely investable,
0:51:23 > 0:51:25and I can see exactly where you're going with this.
0:51:25 > 0:51:27I've looked at the numbers, I worked it out,
0:51:27 > 0:51:28I tweaked it a few times.
0:51:28 > 0:51:30I realised it's scalable.
0:51:30 > 0:51:32I imagine we can spend hours poring over spreadsheets together.
0:51:32 > 0:51:34We're absolutely on the same page there.
0:51:34 > 0:51:35That's good.
0:51:35 > 0:51:37You are speaking my language.
0:51:38 > 0:51:42This clearly does have the potential to really grow.
0:51:42 > 0:51:44I think it's very interesting.
0:51:47 > 0:51:49I'll tell you what, I'm going to break cover
0:51:49 > 0:51:52because there's no point in flinging an offer out there
0:51:52 > 0:51:54that is not going to be doable.
0:51:57 > 0:52:00I would offer you all of the money for 5%.
0:52:02 > 0:52:05And I'd be willing to split that.
0:52:05 > 0:52:07OK, thank you.
0:52:09 > 0:52:12It's a bold offer from Nick Jenkins,
0:52:12 > 0:52:14massively undercutting Touker Suleyman,
0:52:14 > 0:52:16and not far away
0:52:16 > 0:52:19from the entrepreneur's contentious valuation.
0:52:19 > 0:52:21The internet guru has clearly connected
0:52:21 > 0:52:24with the like-minded website entrepreneur
0:52:24 > 0:52:26and his keen online senses
0:52:26 > 0:52:29seem to have sniffed out a golden opportunity.
0:52:29 > 0:52:32So, does it smell as sweet to Peter Jones?
0:52:36 > 0:52:39Oliver, you are incredibly impressive.
0:52:39 > 0:52:42Not many people come into the Den, know their numbers the way you do,
0:52:42 > 0:52:43the way you've come across.
0:52:45 > 0:52:49All credit to you, one of the most impressive I've seen in the Den.
0:52:49 > 0:52:51Thank you very much.
0:52:51 > 0:52:55But, for the sake of the fact that I would want a little bit more
0:52:55 > 0:52:58of a piece of the pie than what Nick Jenkins has offered...
0:52:59 > 0:53:00..I'm going to say that I'm out.
0:53:01 > 0:53:03OK, thank you.
0:53:05 > 0:53:08He's the Dragon who rarely minces his words
0:53:08 > 0:53:11when it comes to excessive valuations,
0:53:11 > 0:53:13but this time, it's an uncharacteristically civil
0:53:13 > 0:53:17Peter Jones who is first to decline the deal.
0:53:18 > 0:53:21Now Deborah Meaden has also come to a decision.
0:53:24 > 0:53:26The problem is, you're going to, at same point, to scale up,
0:53:26 > 0:53:28need a lot more cash.
0:53:28 > 0:53:31The kind of percentage that you're talking at
0:53:31 > 0:53:33just leave an investor who
0:53:33 > 0:53:35puts more than money in, you know,
0:53:35 > 0:53:36they put heart and soul in,
0:53:36 > 0:53:39but actually they just end up getting so diluted.
0:53:39 > 0:53:40All they have to...
0:53:40 > 0:53:42keep buying in and buying in.
0:53:42 > 0:53:44And it actually can make an investor who's made a big impact
0:53:44 > 0:53:48on a business feel a little bit uncomfortable about that.
0:53:48 > 0:53:50So, I won't be investing.
0:53:50 > 0:53:51I'm out.
0:53:53 > 0:53:56Deborah Meaden brushes off the beauty business,
0:53:56 > 0:54:00unable to see eye to eye with Oliver's company valuation.
0:54:01 > 0:54:05Nick Jenkins' offer of 5% is still on the table,
0:54:05 > 0:54:07and it appears that Touker Suleyman
0:54:07 > 0:54:10has had second thoughts about his own ambitious bid
0:54:10 > 0:54:13for 25% of the business.
0:54:13 > 0:54:15I've got the contacts.
0:54:15 > 0:54:16I could open lots of doors.
0:54:16 > 0:54:18One phone call, you're in.
0:54:20 > 0:54:24But I think for 2.5% or 3%, it's just not worth my while.
0:54:26 > 0:54:27I'm out.
0:54:29 > 0:54:33Touker Suleyman withdraws from the negotiations.
0:54:33 > 0:54:35Only Sarah Willingham remains.
0:54:35 > 0:54:39Will she be prepared to bid low for a piece of the beauty business?
0:54:41 > 0:54:42I really like it
0:54:42 > 0:54:45because I actually very much like this online subscription space.
0:54:45 > 0:54:49I've seen it work, and work very well,
0:54:49 > 0:54:52and, actually, it doesn't take an enormous amount of customers
0:54:52 > 0:54:56to make it very successful.
0:54:56 > 0:54:58I would like to offer you...
0:55:01 > 0:55:04..because I want to, I want to do it with Nick,
0:55:04 > 0:55:10because I think we have very complementary skills in this space,
0:55:10 > 0:55:12but it's what that number...
0:55:13 > 0:55:15..is to make it interesting.
0:55:19 > 0:55:23I know what my offer is and it's not half the money for 2.5%.
0:55:25 > 0:55:28It's all of the money at 8%, half the money at 4%.
0:55:30 > 0:55:32OK.
0:55:32 > 0:55:36Without being rude, what value can you add beyond Nick?
0:55:36 > 0:55:38The contacts in the beauty industry.
0:55:38 > 0:55:40I've great relationships with a lot of the retailers.
0:55:40 > 0:55:42So, when you're saying retailers,
0:55:42 > 0:55:44you're talking Marks & Spencer's, John Lewis?
0:55:44 > 0:55:45Exactly, yeah.
0:55:45 > 0:55:49Boots as well. Because of the loyalty cards,
0:55:49 > 0:55:52they know exactly what people spend, when they spend it.
0:55:52 > 0:55:53Of course, Boots is a big...
0:55:53 > 0:55:56I work extremely closely with the loyalty cards.
0:55:56 > 0:55:59And you believe that you can bring the contacts at Boots, for example?
0:55:59 > 0:56:02- Yeah.- Sarah would definitely add something I couldn't add.
0:56:02 > 0:56:05OK. So, the way I see it, 5% here...
0:56:06 > 0:56:08..or 4% each.
0:56:12 > 0:56:16So, 8%, I think, a fair deal. That's it.
0:56:16 > 0:56:17Brilliant! Great!
0:56:17 > 0:56:19- Well done.- Thank you very much.
0:56:19 > 0:56:22- Brilliant.- Well done.- Thank you very much. Thank you.
0:56:22 > 0:56:24With two Dragons in the bag
0:56:24 > 0:56:27and a firm foundation for the future,
0:56:27 > 0:56:30Oliver leaves the Den totally made up.
0:56:33 > 0:56:34Nick, you nearly stitched me up then.
0:56:34 > 0:56:38No, but I said to him... He clearly does value the input that we put in,
0:56:38 > 0:56:40- which is a delight to see.- It is, it's great.
0:56:40 > 0:56:44I came in here to win the Dragons, and that's what I've done.
0:56:44 > 0:56:46Nick made a very fair offer.
0:56:46 > 0:56:48Sarah brought a different dimension to it.
0:56:48 > 0:56:50Sarah had the contacts at Boots,
0:56:50 > 0:56:52Sarah had the contacts with the brands,
0:56:52 > 0:56:54so if I can get two for the price of one
0:56:54 > 0:56:57for a slightly higher equity's sake, it's a good deal.
0:57:02 > 0:57:05Never let it be said that the Den is predictable.
0:57:05 > 0:57:07The Dragons see a multifarious array
0:57:07 > 0:57:10of different products and are willing to invest
0:57:10 > 0:57:12in almost anything,
0:57:12 > 0:57:16whether it is glow-in-the-dark T-shirts or online beauty bags,
0:57:16 > 0:57:19as long as they see the spark of success.
0:57:19 > 0:57:20It just goes to show,
0:57:20 > 0:57:23you never know what will fly and what will flop in the den.
0:57:25 > 0:57:26Touker, can you see me?
0:57:26 > 0:57:29I can see you. Definitely see you.
0:57:29 > 0:57:30Coming up next time...
0:57:30 > 0:57:32I'm glad it's your strategy, but I'm out.
0:57:32 > 0:57:34You're valuing a business that, so far,
0:57:34 > 0:57:36has made £1,000 profit at a million.
0:57:36 > 0:57:37Yeah, if I'm able to answer...
0:57:37 > 0:57:40I'd love to find out what you're going to say.
0:57:40 > 0:57:41Thanks for answering their question,
0:57:41 > 0:57:43but can I direct my questions to them?
0:57:43 > 0:57:44I thought they'd answered it, sorry.
0:57:44 > 0:57:46No, they haven't even paused for breath.
0:57:46 > 0:57:49You should not sell a franchise to an unsuspecting person
0:57:49 > 0:57:51without having proven the model.
0:57:51 > 0:57:53I think you've got a cracking business.
0:57:53 > 0:57:54I'm going to make you an offer.
0:57:54 > 0:57:57I've got to say, what Peter's just said is actually genius.