0:00:02 > 0:00:04Tonight on Dragons' Den...
0:00:08 > 0:00:12I WAS born on a day, but that day wasn't yesterday.
0:00:12 > 0:00:15I don't want to argue with people, I want to invest in people.
0:00:15 > 0:00:16You're not listening.
0:00:16 > 0:00:21If I felt I had this inner rebel in me, I'd want to be able to show it.
0:00:21 > 0:00:22It annoys me.
0:00:24 > 0:00:26Enough! You've said plenty.
0:00:28 > 0:00:31Nick will say in a second that he gets it.
0:00:31 > 0:00:33I COMPLETELY get this.
0:00:33 > 0:00:36THEY GROAN AND CHEER
0:00:36 > 0:00:37Make me invest in you.
0:01:09 > 0:01:11Welcome to Dragons' Den.
0:01:11 > 0:01:13The Dragons have built empires
0:01:13 > 0:01:16by spotting great business opportunities,
0:01:16 > 0:01:19but here, only the entrepreneurs who can offer big returns
0:01:19 > 0:01:22will get a vital cash investment.
0:01:22 > 0:01:25The rest will walk away with nothing.
0:01:27 > 0:01:30First up, two former history students
0:01:30 > 0:01:32from the world of finance...
0:01:32 > 0:01:35Deep breaths! Deep breaths! Calm.
0:01:35 > 0:01:37..trying to create a revolution
0:01:37 > 0:01:41amongst male City workers with a rebellious streak.
0:01:43 > 0:01:45We are a bit nervous. We know what the Dragons can be like.
0:01:45 > 0:01:48We know they might be a bit up in our face.
0:01:48 > 0:01:52But we feel as well-prepared as we can and we're excited to go in there
0:01:52 > 0:01:53and show them what we've got.
0:01:56 > 0:01:58The Dragon that I'm after would be Nick Jenkins
0:01:58 > 0:02:02because I think his experience in e-commerce will be invaluable to us.
0:02:04 > 0:02:08But will Nick Jenkins share their vision for men who feel constrained
0:02:08 > 0:02:10by the rules of business fashion?
0:02:12 > 0:02:15Hello, Dragons. I'm Alex Miles.
0:02:15 > 0:02:16And I'm Ini Weston.
0:02:16 > 0:02:19And we are the co-founders of Quiet Rebellion,
0:02:19 > 0:02:23a sock company that brings colour to your SOLE.
0:02:23 > 0:02:26Today, we're here to ask for a £75,000 investment
0:02:26 > 0:02:31- for a 10% stake in our business.- One evening, after work,
0:02:31 > 0:02:34we sat in the pub having a little grumble about the conformity
0:02:34 > 0:02:37of the corporate world and how it restricted our personalities.
0:02:38 > 0:02:40After a drink or two,
0:02:40 > 0:02:46we concluded that this was absolutely 100% epitomised
0:02:46 > 0:02:51by those plain, boring, dull work socks
0:02:51 > 0:02:55we had to drag over our feet every morning before work.
0:02:56 > 0:03:00By closing time, the Quiet Rebellion had begun.
0:03:00 > 0:03:05So, now we have a sock company which sells luxury combed-cotton socks
0:03:05 > 0:03:08that appear smart and professional to the outside,
0:03:08 > 0:03:11but on the inside of the cuff and on the sole of the foot they have
0:03:11 > 0:03:17colours which are fun, bright and - most of all - hidden.
0:03:17 > 0:03:20Not only do our socks come beautifully hand-packaged,
0:03:20 > 0:03:23they come accompanied by a postcard celebrating
0:03:23 > 0:03:26the rebellious activities of historical figures.
0:03:26 > 0:03:31We've been trading for six months now and we've turned over £35,000,
0:03:31 > 0:03:36with a gross margin of £21,000 and a net margin of £9,000.
0:03:36 > 0:03:40This has involved shipping over 5,000 pairs of socks to more
0:03:40 > 0:03:42than 20 different countries.
0:03:42 > 0:03:46We're now looking for investment today to help us grow our brand to
0:03:46 > 0:03:49acquire more customers and, most importantly of all...
0:03:51 > 0:03:53..bring colour to many more soles.
0:03:55 > 0:04:01Two old chums, Alex Miles and Ini Weston selling a sock of two halves.
0:04:01 > 0:04:06They want £75,000 for a 10% share of the company.
0:04:06 > 0:04:08I don't want to open mine. I'm going to give that to my husband.
0:04:08 > 0:04:10That's his Christmas present right there.
0:04:10 > 0:04:14A big ask for a new business with a small turnover.
0:04:14 > 0:04:18It's also a direct challenge to the one Dragon who likes to express his
0:04:18 > 0:04:21individuality through his own socks.
0:04:22 > 0:04:26Well, I would say that I sort of changed the world
0:04:26 > 0:04:30of business fashion a few years ago because everybody DID wear boring,
0:04:30 > 0:04:34plain socks until I started to wear stripies.
0:04:34 > 0:04:39So my first question is, why do you want to hide this?
0:04:39 > 0:04:41Obviously you're wearing stripy socks.
0:04:41 > 0:04:43I can see lots of bright socks around the room.
0:04:43 > 0:04:46It is perfectly possible in some roles to wear bright socks.
0:04:46 > 0:04:49At the level we're at when we came out of university into work,
0:04:49 > 0:04:52we couldn't get away with wearing stripy socks.
0:04:52 > 0:04:57- What's your socks?- So I've got a pair of the Pablos on.
0:05:01 > 0:05:03See, I think that looks better.
0:05:03 > 0:05:07- Yeah.- See, I think the pattern looks better than the top bit.
0:05:07 > 0:05:10No, this is the problem. I think you've missed the point.
0:05:10 > 0:05:15What you've done is try to cover up the very thing that is your USP.
0:05:15 > 0:05:17I think it comes down to a fundamental disagreement
0:05:17 > 0:05:20whether you're doing it for how you look or how you feel.
0:05:20 > 0:05:22Everything you're doing, you're hiding.
0:05:24 > 0:05:25What is the point?
0:05:27 > 0:05:30I'm worried that actually your brand shouldn't be like...
0:05:30 > 0:05:32is it Quiet Rebellion?
0:05:32 > 0:05:37- Yes.- Because you're hiding all this, it should be like "Scaredy Sock".
0:05:37 > 0:05:40I suppose we're quietly rebelling because you know you're going
0:05:40 > 0:05:43against conformity and you know that you're a rebel.
0:05:43 > 0:05:46- And you're not.- No, I think you're just a scaredy cat.
0:05:49 > 0:05:53Nick will say in a second that he gets it.
0:05:53 > 0:05:55I COMPLETELY get this!
0:05:55 > 0:05:56THEY GROAN AND CHEER
0:05:56 > 0:05:57- Thank you.- And you know why,
0:05:57 > 0:06:02because the first-ever business that I set up was pretty much doing this.
0:06:02 > 0:06:06I set up a dress shirt business when I was at university and on the back
0:06:06 > 0:06:10of these dress shirts was large screen-printed designs of Tintin,
0:06:10 > 0:06:12Dennis the Menace and Lenin.
0:06:12 > 0:06:14The idea was you go would go to a formal ball,
0:06:14 > 0:06:16conforming to what society expects.
0:06:16 > 0:06:19At the end of the evening, the jacket would come off there's
0:06:19 > 0:06:22this huge printed design of Tintin, Dennis the Menace and Lenin.
0:06:22 > 0:06:25But I totally understand the concept because when you are sitting in a
0:06:25 > 0:06:28meeting, I want to focus on what they're saying,
0:06:28 > 0:06:30not what they're wearing.
0:06:30 > 0:06:32So I understand the Quiet Rebellion in the sense that we'd like to think
0:06:32 > 0:06:35we have not completely lost our soul.
0:06:37 > 0:06:39The business seems like a good fit
0:06:39 > 0:06:42for the Dragon they'd love to pair up with.
0:06:42 > 0:06:44But textile tycoon Touker Suleyman
0:06:44 > 0:06:47knows a thing or two about socks.
0:06:47 > 0:06:49Will they pass muster?
0:06:49 > 0:06:54Your idea of creating the rebellion and history and whatever it is,
0:06:54 > 0:06:58it's great, but you made a statement that it's combed cotton.
0:06:59 > 0:07:01I don't think it is.
0:07:03 > 0:07:06My concern here is that there's hairs on it already.
0:07:06 > 0:07:08And that's pilling.
0:07:10 > 0:07:12We don't have any customers complaining about the quality.
0:07:12 > 0:07:14They were described by GQ as super-soft.
0:07:14 > 0:07:16We've got fantastic customer reviews.
0:07:16 > 0:07:18How much stock have you got?
0:07:18 > 0:07:21At the moment we've got about 20,000 pairs.
0:07:21 > 0:07:23Whoa! 20,000 pairs!
0:07:23 > 0:07:25So the reason we have so much is we've tied up a bit of our capital.
0:07:25 > 0:07:29Because whilst we were both working, we wanted to de-risk
0:07:29 > 0:07:31- the supply chain.- You might be great financiers,
0:07:31 > 0:07:33but you're quite green in this business.
0:07:33 > 0:07:36You went for the trap, and the trap was very simple.
0:07:36 > 0:07:39You've gone out and spent all your money on all this stock,
0:07:39 > 0:07:41that's sitting in your warehouse, which you haven't sold,
0:07:41 > 0:07:43and you've got no flexibility.
0:07:43 > 0:07:47You can't do anything else until you start selling the stock.
0:07:52 > 0:07:56Leading fashionista Touker Suleyman has exposed a major weakness in
0:07:56 > 0:07:58their stocking strategy,
0:07:58 > 0:08:02but can brand specialist Deborah Meaden deliver a new dawn for the
0:08:02 > 0:08:04resistance to boring black socks?
0:08:06 > 0:08:09It kind of feels a little bit more than a sock business, to me.
0:08:09 > 0:08:12It feels like it really isn't a sock business.
0:08:12 > 0:08:14It happens to be socks.
0:08:14 > 0:08:16But it's a lifestyle statement business.
0:08:16 > 0:08:19My question is, is there actually a subscription model?
0:08:19 > 0:08:20Is there a buy-in to the brand?
0:08:20 > 0:08:23It is something you'll be able to roll out into other things?
0:08:23 > 0:08:27Cos it isn't really about the sock, it's about this quiet rebellion.
0:08:27 > 0:08:29I think it is definitely more than a sock company -
0:08:29 > 0:08:31in terms of brand loyalty,
0:08:31 > 0:08:33we have really high engagements on Instagram,
0:08:33 > 0:08:36open rates on e-mail. The average customer purchased
0:08:36 > 0:08:39only three months ago because we are a new company
0:08:39 > 0:08:41and we've already had 15% repeat business.
0:08:41 > 0:08:44So I think people are buying into the brand and I certainly think
0:08:44 > 0:08:47- there's a subscription model.- We're using socks to build a brand,
0:08:47 > 0:08:50and Quiet Rebellion hopefully will become a brand to be something else.
0:08:51 > 0:08:54What other things are you going to do for the brand, apart from socks?
0:08:54 > 0:08:57So the obvious complementary product would be to move into something like
0:08:57 > 0:09:00boxer shorts because it would be
0:09:00 > 0:09:03a nice bundled subscription you could send out.
0:09:03 > 0:09:05And what would you do with those?
0:09:05 > 0:09:07You'd have normal boxer shorts, but inside you'd colour them?
0:09:07 > 0:09:09I think there'd be the same colour as the socks.
0:09:09 > 0:09:11You'd try and bundle them up and sell them in pairs.
0:09:11 > 0:09:13The Quiet Rebellion would continue up.
0:09:13 > 0:09:16Because this is the bit that I've got an issue with.
0:09:16 > 0:09:18So, if you went to boxer shorts now,
0:09:18 > 0:09:20if you carry on with your brand, your boxer shorts would be normal.
0:09:20 > 0:09:22Like the ones I have got on, probably.
0:09:22 > 0:09:26But inside, I'd know cheekily that they'd have a little pattern.
0:09:26 > 0:09:28I'd have a little giggle to myself
0:09:28 > 0:09:32with my mates that you don't know that behind these boxer shorts
0:09:32 > 0:09:35- is a little pattern. - Exactly.- And then I'd have a giggle,
0:09:35 > 0:09:36that actually my socks,
0:09:36 > 0:09:40you can't tell that behind them, there's a little pattern.
0:09:40 > 0:09:42What is the point?
0:09:45 > 0:09:49Peter Jones derides the boxer shorts idea and their vision for
0:09:49 > 0:09:52transforming office underwear for men.
0:09:52 > 0:09:55And now Sarah Willingham is also ready to strike
0:09:55 > 0:09:58at the heart of the Quiet Rebellion.
0:10:01 > 0:10:02I think it is such a shame
0:10:02 > 0:10:05that you're building a business based on the fact
0:10:05 > 0:10:10that we apparently live in a world where we actually can't show that
0:10:10 > 0:10:14little twinkle in our eye. And you're saying we're anti-conformist,
0:10:14 > 0:10:16but you couldn't be conforming more
0:10:16 > 0:10:19because you're hiding that inner rebel.
0:10:19 > 0:10:22I think we've been slightly misunderstood on how literally
0:10:22 > 0:10:26we take it. We don't actually think we're being incredibly rebellious
0:10:26 > 0:10:30by wearing it. Our customers seem to enjoy the idea.
0:10:30 > 0:10:32I, of course, get the principle of it.
0:10:32 > 0:10:35I just think anybody with any rebel in them
0:10:35 > 0:10:37should at least demonstrate it a little bit.
0:10:37 > 0:10:40I think it's sad that we have to.
0:10:40 > 0:10:43You can, after work... You can, after work, turn over the cuff and
0:10:43 > 0:10:45- you can show your friends you're a rebel.- Oh, put it away. Put it away!
0:10:45 > 0:10:47You can show your friends you really are a rebel!
0:10:47 > 0:10:51That is a crazy stuff. That is two shots off the bar
0:10:51 > 0:10:54as we turn down the top of our socks.
0:10:55 > 0:10:58Guys, you've got to believe in the concept of it.
0:10:58 > 0:11:01And...it annoys me.
0:11:01 > 0:11:03It really annoys me that we have to conform,
0:11:03 > 0:11:06and I just couldn't get behind it. So, good luck with it.
0:11:06 > 0:11:09- Thank you very much.- But I won't be investing. I'm out.
0:11:13 > 0:11:16Drinks industry expert Sarah Willingham
0:11:16 > 0:11:19is unimpressed with the sock sellers' spirit
0:11:19 > 0:11:21and is the first to count herself out.
0:11:23 > 0:11:26Will Touker Suleyman overcome his initial concerns
0:11:26 > 0:11:29to make a bid for the business?
0:11:29 > 0:11:34I love the whole idea of the brand and what it stands for.
0:11:36 > 0:11:40But I think what you've done is just chosen the wrong product.
0:11:41 > 0:11:44You will not be a success selling socks.
0:11:44 > 0:11:47That's free Touker time.
0:11:47 > 0:11:51The thing what you have to sell is you have to sell the dream,
0:11:51 > 0:11:53the brand.
0:11:53 > 0:11:57I don't think the sock is strong enough to sell that dream.
0:11:57 > 0:12:00And I think you'll make it one day, but not with socks.
0:12:01 > 0:12:03For that reason, I'm out.
0:12:06 > 0:12:10With Touker Suleyman joining Sarah Willingham in declining the deal,
0:12:10 > 0:12:15does striped-sock aficionado Peter Jones also have itchy feet?
0:12:16 > 0:12:18I don't like the Quiet Rebellion piece
0:12:18 > 0:12:21and I think you've either got to like it or you don't.
0:12:21 > 0:12:24I like the fact... And it is obvious, I wear these.
0:12:24 > 0:12:26I don't think you need to hide.
0:12:26 > 0:12:28I think you've either got to buy into your concept or not.
0:12:28 > 0:12:30And I'm just not buying it.
0:12:30 > 0:12:32It's not an investment that I want to invest in
0:12:32 > 0:12:34for all those reasons...
0:12:36 > 0:12:37..and that's why I'm out.
0:12:41 > 0:12:44Three Dragons down.
0:12:44 > 0:12:47But Deborah Meaden is thinking about it.
0:12:47 > 0:12:51Is she the master puppeteer they're looking for to pull the strings?
0:12:53 > 0:12:56I wish you hadn't asked for £75,000.
0:12:58 > 0:13:01Because it's got a short life.
0:13:01 > 0:13:03And £75,000 it's just too big a lump
0:13:03 > 0:13:07for the shape of the business that I think it is.
0:13:09 > 0:13:12I won't be investing. I'm out.
0:13:15 > 0:13:19Only e-commerce guru Nick Jenkins remains.
0:13:19 > 0:13:22Their top target had a very similar business already,
0:13:22 > 0:13:25and understands man's sock dilemma.
0:13:25 > 0:13:29But is that enough for him to buy into their brand?
0:13:30 > 0:13:32I totally get the product.
0:13:32 > 0:13:34It is that quiet rebellion, as opposed to socks.
0:13:34 > 0:13:36Socks are just the vehicle for it.
0:13:37 > 0:13:40If I have any concern about it...
0:13:41 > 0:13:46..it's that there's a danger that it will be great fun for a year or two,
0:13:46 > 0:13:49three years. And then it might run its course.
0:13:49 > 0:13:52Everyone will have known about this little quiet rebellion
0:13:52 > 0:13:55and the bubble might have burst,
0:13:55 > 0:13:59and that, I'm afraid, is the reason I'm am afraid I can't invest.
0:13:59 > 0:14:02And I wish you all the best, but I'm out.
0:14:02 > 0:14:03Thank you very much.
0:14:03 > 0:14:06The City slickers-turned-sock-sellers
0:14:06 > 0:14:09leave the Den with nothing -
0:14:09 > 0:14:13losing the battle by underestimating the Dragons' generosity.
0:14:13 > 0:14:14For less money I'd have done it.
0:14:14 > 0:14:16I would have done it for less money as well.
0:14:16 > 0:14:18It was enjoyable.
0:14:18 > 0:14:21They understand what the brand would be and what it could become.
0:14:21 > 0:14:23Some of what they said, I thought was really useful.
0:14:23 > 0:14:26Other points, I suppose, we just agree to disagree.
0:14:26 > 0:14:29I don't think you can beat stripies. Just be proud. That's all I say.
0:14:35 > 0:14:38- Our time has come.- Like, for real.
0:14:39 > 0:14:42Next up are Denis Ahmet and Tim Hamilton,
0:14:42 > 0:14:46who feel that we need to rethink the dance class.
0:14:46 > 0:14:50This is a project which we believe will change the landscape of how we
0:14:50 > 0:14:52learn to dance and exercise today.
0:14:53 > 0:14:56It's my dream, and I'm very passionate about what I do.
0:14:56 > 0:15:00I hope we get it spot-on, I hope we get it right.
0:15:01 > 0:15:05This could be very positive for the whole of the UK, and the world.
0:15:05 > 0:15:07- Good luck, guys.- Thank you.
0:15:07 > 0:15:10But will the Dragons share their global ambition?
0:15:17 > 0:15:20MUSIC: Radha Nachegi by Sajid-Wajid
0:15:30 > 0:15:32MUSIC: If I Ain't Got You by Alicia Keys
0:15:42 > 0:15:46MUSIC: Super Bad Part One by James Brown
0:15:46 > 0:15:48Whoa!
0:15:50 > 0:15:51That's amazing.
0:15:52 > 0:15:54# Danceacise! #
0:16:01 > 0:16:03Hello, Dragons. My name's Denis Ahmet.
0:16:03 > 0:16:04My name's Tim Hamilton.
0:16:04 > 0:16:08We're from Danceacise, we're the founders of Danceacise.
0:16:08 > 0:16:09Excellence in every step.
0:16:09 > 0:16:16And we're looking for £150,000 investment for 10% of our business.
0:16:16 > 0:16:23We've created precision mats which has numbers, colours and shapes.
0:16:23 > 0:16:26What we've created is a system
0:16:26 > 0:16:29whereby we tell and instruct the users
0:16:29 > 0:16:32where to place their hands, feet and body.
0:16:34 > 0:16:40It makes learning new dance routines and memorising routines much easier.
0:16:42 > 0:16:47You can become part of an instructor-led class
0:16:47 > 0:16:49or a virtual class using precision mats.
0:16:49 > 0:16:52In addition to that, you can even practise at home.
0:16:52 > 0:16:56Danceacise is fresh and revolutionary,
0:16:56 > 0:17:00and we feel that the Danceacise learning system
0:17:00 > 0:17:04is going to be the system of choice all over the world.
0:17:04 > 0:17:05Thank you.
0:17:07 > 0:17:11A confident prediction from Tim Hamilton and Denis Ahmet.
0:17:11 > 0:17:14Dragons, I'd like three volunteers to come up and have a go
0:17:14 > 0:17:17- on the mats, please. - I'll give it a go.
0:17:17 > 0:17:24They want a hefty £150,000 for 10% of their dance mat company.
0:17:24 > 0:17:27So you're going to follow me. OK, let's do the feet.
0:17:27 > 0:17:33So we're going to take our foot from diamond 1 to blue 1...
0:17:33 > 0:17:37..then back again to diamond 1. We're going to step out to red 1,
0:17:37 > 0:17:39and back again to diamond 2.
0:17:39 > 0:17:42Blue 1, red 1.
0:17:42 > 0:17:45Blue 1, red 1.
0:17:45 > 0:17:48And we're going to finish with a nice pose.
0:17:49 > 0:17:51There we go, thank you so much.
0:17:51 > 0:17:53Thank you!
0:17:53 > 0:17:57So, was the dance mat judged a ten or, strictly speaking,
0:17:57 > 0:17:59a complete disaster?
0:17:59 > 0:18:03The Dragon known for her dance moves is first with a verdict.
0:18:03 > 0:18:05Is there anything you'd like to know?
0:18:06 > 0:18:10I'm going to have to come clean - I think it's more confusing.
0:18:11 > 0:18:16The minute you said, "Right, can you put black diamond 2 onto blue..."
0:18:16 > 0:18:18I'm thinking, "Black diamond 2, where's black diamond...?
0:18:18 > 0:18:20- "Oh, hold on a minute."- And I cheated, cos I did that
0:18:20 > 0:18:23once or twice - I got a bit stuck, I just followed you about.
0:18:23 > 0:18:24I didn't actually look at the mat.
0:18:24 > 0:18:27And I did it as I should, I got confused.
0:18:28 > 0:18:31Using the mat, initially, for the first time that you've ever seen it,
0:18:31 > 0:18:33you have to get used to it.
0:18:33 > 0:18:35You have to get used to where things are.
0:18:35 > 0:18:37And in a typical dance school,
0:18:37 > 0:18:40what happens is they're telling you to step out.
0:18:40 > 0:18:42I'm going to have to stop you.
0:18:43 > 0:18:44You can say all the words you like,
0:18:44 > 0:18:46but that's not actually what it feels like.
0:18:46 > 0:18:49You're not supposed to be looking at the floor, for a start, are you?
0:18:49 > 0:18:52- No.- So that's not a good thing to start teaching people.
0:18:52 > 0:18:55- Absolutely.- If somebody stands in front of you and says,
0:18:55 > 0:18:57"Do this," I don't know about anybody else, I find it
0:18:57 > 0:19:01a lot less confusing than somebody saying, "Can you look for red 8?"
0:19:01 > 0:19:04I sat and watched all three,
0:19:04 > 0:19:08and all three of them were following exactly what you were doing.
0:19:08 > 0:19:11Now, I thought what this was going to be was not to have a teacher
0:19:11 > 0:19:14that you copy, because that's just copying a teacher,
0:19:14 > 0:19:16regardless of whether there's a mat.
0:19:16 > 0:19:19I thought it was going to be coming out of a sound system and it was
0:19:19 > 0:19:21trying to make the teacher redundant, and it was going to be,
0:19:21 > 0:19:27"Right foot to left A5, blue, green 5, 6B," you know?
0:19:27 > 0:19:29They were going to stand and do it without following somebody.
0:19:29 > 0:19:31But they ALL followed you...
0:19:31 > 0:19:33The reason why the mat was designed,
0:19:33 > 0:19:36is so we can break down all these moves and build them up.
0:19:36 > 0:19:40It's to give you confidence, so this is the idea of the mat.
0:19:43 > 0:19:47Dancing by numbers clearly isn't giving Sarah Willingham
0:19:47 > 0:19:48the masterclass she needs.
0:19:48 > 0:19:50And for Peter Jones,
0:19:50 > 0:19:54their colour-coded mats feel like a variation on a classic.
0:19:55 > 0:19:57If you don't mind me saying, to me,
0:19:57 > 0:20:01what I've seen is, it looks like Twister with numbers.
0:20:01 > 0:20:05Right, OK. This is learning by numbers, colours.
0:20:05 > 0:20:06Twister's a game,
0:20:06 > 0:20:09where this is going to educate you and teach you something.
0:20:09 > 0:20:12I'm seeing also that there is obviously a business
0:20:12 > 0:20:17that's incredibly successful and has made already a small fortune,
0:20:17 > 0:20:22because you've valued this business at £1.5 million.
0:20:24 > 0:20:29So, in the last 12 months, how much has this business turned over?
0:20:29 > 0:20:33Well, we haven't actually started marketing the company as yet.
0:20:33 > 0:20:37Sorry, sorry, you haven't sold anything yet?
0:20:38 > 0:20:40No, no, we have. We've sold £6,000 worth of mats.
0:20:40 > 0:20:42So we've approached...
0:20:42 > 0:20:44Hang on, you've sold £6,000 worth of mats?
0:20:44 > 0:20:45- Yes.- Brilliant.
0:20:45 > 0:20:49And how much profit have you made from those £6,000 worth of mats?
0:20:49 > 0:20:51We're looking at 35%.
0:20:51 > 0:20:54- So what's that?- 35% of 6,000...
0:20:54 > 0:20:56- About £2,000?- About 2,000, yeah.
0:20:56 > 0:20:58So you've made £2,000
0:20:58 > 0:21:02and you've got a business that you think's worth 1.5 million today?
0:21:02 > 0:21:04Mmm. Yes.
0:21:04 > 0:21:06Now, this might sound really strange...
0:21:06 > 0:21:12- OK.- I WAS born on a day, but that day wasn't yesterday.
0:21:15 > 0:21:19We've based our valuation on the people that we have with us,
0:21:19 > 0:21:22the expertise that we bring to the table,
0:21:22 > 0:21:27the dedication that we have in ensuring that this product
0:21:27 > 0:21:30is a total success. We've done a lot of market research,
0:21:30 > 0:21:34we've looked at education sectors, such as primary schools,
0:21:34 > 0:21:37and we've spoken to all of those in great detail.
0:21:37 > 0:21:40- The feedback we've got is absolutely excellent.- No, but you need to speak
0:21:40 > 0:21:42to somebody that's over five years of age.
0:21:44 > 0:21:47Peter Jones is unimpressed by the market research
0:21:47 > 0:21:51and the valuation of the company after minimal sales,
0:21:51 > 0:21:55but can multimillionaire Touker Suleyman find value
0:21:55 > 0:21:57in rolling out the dance mats?
0:21:59 > 0:22:01You're going to put these into gyms?
0:22:01 > 0:22:03- Yes.- Most gyms haven't got the space.
0:22:03 > 0:22:06So are you telling me that you're going to take this much space
0:22:06 > 0:22:10for four people? Most gyms want to occupy 20 people.
0:22:10 > 0:22:13- Yeah, absolutely.- So are you saying that for 20 people you need 2,000
0:22:13 > 0:22:15square - or what you need - space-wise?
0:22:15 > 0:22:19- Thank you, Touker.- It wouldn't work. - What happens is...- Look at it now.
0:22:19 > 0:22:21And most classes are how big?
0:22:21 > 0:22:23- Would you expect?- They could have 20 or 30 people.
0:22:23 > 0:22:25OK, for 30 people, how big a space do you need?
0:22:25 > 0:22:28For a start, if you go to classes and you've got 30 people
0:22:28 > 0:22:32crammed in a room that, really, is catering for 20,
0:22:32 > 0:22:35and I do that and I'm touching somebody, then that's dangerous.
0:22:35 > 0:22:39Because if I'm touching somebody at any point when I'm turning around
0:22:39 > 0:22:41with my arms out, that means they're too close.
0:22:41 > 0:22:44This defines a safe zone, therefore, this dictates the safe zone.
0:22:44 > 0:22:47So, therefore, when you're dancing and moving,
0:22:47 > 0:22:50and not just dancing but exercising, you're not going to kick anybody.
0:22:50 > 0:22:53- Denis, Denis.- I'm going to tell you where I am really, really quickly.
0:22:54 > 0:22:57I don't want to argue with people, I want to invest in people.
0:22:57 > 0:23:00You're not listening. You don't hear anything anybody else is saying.
0:23:02 > 0:23:04It's a really, really bad idea.
0:23:05 > 0:23:07It's a crazy valuation, and I'm out.
0:23:10 > 0:23:14An irritated Deborah Meaden is the first Dragon out.
0:23:15 > 0:23:19But can Sarah Willingham overcome her concerns and see a future
0:23:19 > 0:23:22in Danceacise?
0:23:22 > 0:23:24I can't see it, even looking at it thinking,
0:23:24 > 0:23:28well, if you'd have come in with a valuation of 10% of what you have,
0:23:28 > 0:23:29I still wouldn't invest in it.
0:23:31 > 0:23:33I'm sorry, it's bonkers.
0:23:34 > 0:23:36I'm not going to invest, I'm out.
0:23:40 > 0:23:43When you first came into the Den,
0:23:43 > 0:23:47I was very disappointed when you said it's a workout.
0:23:47 > 0:23:49And you talked about confidence.
0:23:49 > 0:23:54- Mmm-hmm.- I don't think you've given us any confidence
0:23:54 > 0:23:56in this business venture.
0:23:56 > 0:23:59My advice to you guys is very simple.
0:23:59 > 0:24:01Wake up. Right?
0:24:01 > 0:24:04- Right.- This is just a game.
0:24:04 > 0:24:05It's not a business at all.
0:24:05 > 0:24:08For that reason, I'm out.
0:24:10 > 0:24:14In all, three Dragons have left the floor.
0:24:14 > 0:24:19E-commerce specialist Nick Jenkins has backed innovation in the past.
0:24:19 > 0:24:23Does he see the dance mat as a ground-breaking learning tool?
0:24:23 > 0:24:26I'll tell you where I am. I think...
0:24:26 > 0:24:29It's wonderful when people have an idea and want to see it through.
0:24:29 > 0:24:31Clearly there was some reason why you thought this would work.
0:24:31 > 0:24:34But sometimes you need to recognise when an idea is no.
0:24:34 > 0:24:36Don't flog a dead horse. Because otherwise you can waste
0:24:36 > 0:24:38a lot of time and a lot of your own money
0:24:38 > 0:24:42in trying to make something work, and I'd hate to see you do that.
0:24:44 > 0:24:45So, I'm afraid I'm out.
0:24:47 > 0:24:50- Yeah.- Just one Dragon left.
0:24:50 > 0:24:54Peter Jones has been fairly damning about the price tag
0:24:54 > 0:24:58they've put on the company, but he has one final question.
0:25:00 > 0:25:03Tim, if I gave you £1.5 million for all of this today...
0:25:03 > 0:25:06- Mmm-hmm.- You would honestly believe, wouldn't you,
0:25:06 > 0:25:08that you were the luckiest man alive?
0:25:08 > 0:25:10- Certainly would, yes.- Yeah.
0:25:10 > 0:25:11Yeah.
0:25:11 > 0:25:13Yeah.
0:25:13 > 0:25:151.5 million -
0:25:15 > 0:25:18you guys are having a complete giraffe.
0:25:18 > 0:25:20- This is something that can attract the entire...- No, no, no.
0:25:20 > 0:25:22Not just the UK, but the world.
0:25:22 > 0:25:24You are completely delusional
0:25:24 > 0:25:27if you think that a mat with some numbers on
0:25:27 > 0:25:31with a business that yet doesn't even exist is worth 1.5 million.
0:25:31 > 0:25:34And to try to suggest this could take off in any shape without
0:25:34 > 0:25:38any credibility at all isn't good, guys. And, for that reason, I'm out.
0:25:40 > 0:25:42OK. Thank you, guys.
0:25:42 > 0:25:45Peter Jones has put his foot down,
0:25:45 > 0:25:49and none of the Dragons are prepared to be led on a merry dance.
0:25:49 > 0:25:52The entrepreneurs leave with nothing.
0:25:54 > 0:25:561.5 million valuation.
0:25:58 > 0:26:01If I had an idea like that and I was trying to say that it was worth
0:26:01 > 0:26:041.5 million, the last place that I'm going to go
0:26:04 > 0:26:06- is Dragons' Den.- Totally.
0:26:06 > 0:26:08Got a job to do.
0:26:10 > 0:26:12- We've got to prove everybody wrong. - Yeah.
0:26:12 > 0:26:15It's business as usual. Some day,
0:26:15 > 0:26:19one of the Dragons may change their mind and invest in us.
0:26:28 > 0:26:31Also looking for a cash injection
0:26:31 > 0:26:34were Ruth Lucas and her Welsh terrier, Bronwyn.
0:26:35 > 0:26:36(You're going to be a star.)
0:26:36 > 0:26:38They'd come up with an accessory for pooches
0:26:38 > 0:26:41who don't want to be in the doghouse.
0:26:41 > 0:26:44I travel with my dog a lot,
0:26:44 > 0:26:47occasionally forgetting something important and getting quite stressed
0:26:47 > 0:26:48with it.
0:26:48 > 0:26:51The Rovernighter helps address these problems.
0:26:51 > 0:26:55It's a travel bag for dogs that converts to a comfortable bed
0:26:55 > 0:26:57in less than 20 seconds.
0:26:58 > 0:27:02Ruth was looking for £75,000 for a 20% stake
0:27:02 > 0:27:05in her hound-holdall-cum-dog-bed.
0:27:05 > 0:27:08Is this like a baby-changing bag meets a travel cot?
0:27:08 > 0:27:10Well, I suppose so, yeah.
0:27:10 > 0:27:12I generally leave it half packed, you know?
0:27:12 > 0:27:15And then just as I'm going, I go, "How long are we going for?
0:27:15 > 0:27:17"What toys do you want today?"
0:27:17 > 0:27:19That's harder than taking four kids.
0:27:20 > 0:27:23Dog owner Nick Jenkins gave a glimpse into life
0:27:23 > 0:27:25with his own canine companions.
0:27:25 > 0:27:28They are not as well-behaved as Bronwyn. I mean, this narrows down
0:27:28 > 0:27:30to a market of people who have dogs that are as
0:27:30 > 0:27:32beautifully mannered as your dog,
0:27:32 > 0:27:35overnighting with them in an open basket without the risk that they're
0:27:35 > 0:27:38going to get up, open the fridge and eat all the sausages or whatever
0:27:38 > 0:27:40you're supposed to be having for lunch the next day.
0:27:40 > 0:27:42I think the idea is barking mad.
0:27:44 > 0:27:45Ruth, I don't think you're barking.
0:27:45 > 0:27:48I think you're definitely going to sell some of these.
0:27:48 > 0:27:50The total cost of getting it made
0:27:50 > 0:27:54is £91 per unit, and it's selling at 175.
0:27:54 > 0:27:55- Wow.- Wow.
0:27:55 > 0:27:57That is a lot of money to pay.
0:27:57 > 0:28:00Peter Jones enjoys the high life,
0:28:00 > 0:28:03but didn't quite see the need for his dogs to travel
0:28:03 > 0:28:05in the same luxury standard.
0:28:05 > 0:28:10It's a backpack overnight sleeping kit for a dog.
0:28:10 > 0:28:11It's crazy.
0:28:11 > 0:28:14And the Dragons were snapping at Ruth's heels
0:28:14 > 0:28:16when it came to the final verdict.
0:28:16 > 0:28:18I don't get it at all.
0:28:18 > 0:28:20- Sorry, I'm out.- I'm out.
0:28:20 > 0:28:22It's not for me, so I'm out.
0:28:22 > 0:28:24OK, thank you.
0:28:24 > 0:28:26Come on, B! Let's go.
0:28:26 > 0:28:27Say goodbye. Good girl.
0:28:29 > 0:28:31If I left the treats in that pocket
0:28:31 > 0:28:33and expected the dog to sleep in the basket,
0:28:33 > 0:28:37the thing would be ripped to shreds by the next morning.
0:28:42 > 0:28:46- Still to come... - How good are you at keepy-uppies?
0:28:46 > 0:28:48- ..the Den heats up...- How do you know, Touker? We've had
0:28:48 > 0:28:51- this conversation before.- Deborah, Deborah, they're going to be
0:28:51 > 0:28:54in my office, I'm going to be there. Are they going to be in YOUR office?
0:28:54 > 0:28:55- No.- So please don't query it.
0:28:55 > 0:28:58And it's every Dragon for themselves.
0:28:58 > 0:28:59This isn't for splitting, Dragons.
0:28:59 > 0:29:02I have no interest in sharing any of it with any of you.
0:29:02 > 0:29:05I think 25% is ridiculous.
0:29:05 > 0:29:06Sorry, Peter.
0:29:11 > 0:29:15Well, as we've seen, the Dragons are in a feisty mood,
0:29:15 > 0:29:17with none of them investing so far.
0:29:17 > 0:29:19But everyone going into the Den
0:29:19 > 0:29:21gets a fresh chance to turn things round,
0:29:21 > 0:29:25so can our next entrepreneur use HIS charm to tame the Dragons?
0:29:28 > 0:29:32Jamie Hutcheon is an ambitious 25-year-old luxury chocolate-maker
0:29:32 > 0:29:34trying to think out of the box.
0:29:37 > 0:29:40It's a fantastic opportunity to pitch
0:29:40 > 0:29:42to five well-connected Dragons.
0:29:42 > 0:29:44I'm a self-taught entrepreneur.
0:29:44 > 0:29:48One of a kind. Hopefully that will come out in my pitch today.
0:29:48 > 0:29:50But will the Dragons ooze enthusiasm
0:29:50 > 0:29:53for his artisan chocolate brand?
0:29:57 > 0:29:58Hello, Dragons. My name's Jamie.
0:29:58 > 0:30:01I'm the founder and director of Cocoa Ooze.
0:30:01 > 0:30:06I'm here today to ask for £70,000 for 10% of my company.
0:30:06 > 0:30:09Cocoa Ooze was started by myself when I was 17, back in 2008,
0:30:09 > 0:30:10out my parents' kitchen,
0:30:10 > 0:30:14while training as a chef and the art of chocolate-making.
0:30:14 > 0:30:17We now employ 26 members of staff in the heart of
0:30:17 > 0:30:20Aberdeen, where our retail shop is situated.
0:30:20 > 0:30:21We've got two parts to our business.
0:30:21 > 0:30:26The first one, accounting for 88% of our turnover, is our retail shop,
0:30:26 > 0:30:28comprising of our coffee shop,
0:30:28 > 0:30:31Scotland's first chocolate-themed bistro,
0:30:31 > 0:30:34our workshops and kids' birthday parties.
0:30:34 > 0:30:37And the other part of our business, accounting for 12%,
0:30:37 > 0:30:41which we see the significant growth happening, is our corporate,
0:30:41 > 0:30:44wholesale and online.
0:30:44 > 0:30:46We would use the money for a new production unit,
0:30:46 > 0:30:51which will grow capacity as well and allow us to take on larger clients.
0:30:51 > 0:30:54So, we can do bespoke products from printing directly onto chocolate,
0:30:54 > 0:30:56to customisable packaging,
0:30:56 > 0:31:00to bespoke products such as branded chocolate golf balls,
0:31:00 > 0:31:01to chocolate helicopters,
0:31:01 > 0:31:05to chocolate sunglasses, just to name a few.
0:31:05 > 0:31:08We see Cocoa Ooze as being a UK success,
0:31:08 > 0:31:11and being in every household, hopefully.
0:31:11 > 0:31:13Further afield, there's opportunity to grow this,
0:31:13 > 0:31:16to make this a global success also as well.
0:31:16 > 0:31:19I'd like to invite you up to try your hand at some chocolate-making
0:31:19 > 0:31:22and I'm happy to answer any questions you may have. Thank you.
0:31:24 > 0:31:29A pitch with a smile from Aberdeen's wannabe Willy Wonka, Jamie Hutcheon.
0:31:29 > 0:31:32That's quite a good one, Deborah. Do you want a job? You can actually
0:31:32 > 0:31:35- make some chocolate truffles.- Well, there you go. If ever I need
0:31:35 > 0:31:37to fall back on something, I will be applying.
0:31:37 > 0:31:41He's looking to tempt the Dragons with 10% of his company
0:31:41 > 0:31:45for a £70,000 cash injection to fund his expansion plans.
0:31:45 > 0:31:48Can I have one with a picture of Peter on it, please?
0:31:48 > 0:31:50- You can, Deborah.- Yeah, I'll give you mine, Deborah.
0:31:50 > 0:31:54But can Cocoa Ooze raise the bar when it comes to the competition?
0:31:54 > 0:31:58Peter Jones is first with the questions.
0:31:59 > 0:32:02What is different to your product, to those that are out there now?
0:32:02 > 0:32:05Some of our flavour and also our process as well.
0:32:05 > 0:32:06But everybody's going to say that.
0:32:06 > 0:32:09You won't find many chocolatiers that have launched brands
0:32:09 > 0:32:11that would say, "There's a good differentiation in our product,
0:32:11 > 0:32:13- "it doesn't taste very nice." - Yeah. A lot of it is...
0:32:13 > 0:32:16They're all say it's great. They're all say it's fresh chocolate.
0:32:16 > 0:32:18They're all going to say it's brilliant.
0:32:18 > 0:32:20Have you got anything that differentiates you,
0:32:20 > 0:32:22or is the answer no, apart from your smile?
0:32:22 > 0:32:24The quality of products, the knowledge,
0:32:24 > 0:32:27the passion and the know-how to do it.
0:32:27 > 0:32:31We want to be the great brand and the great product.
0:32:32 > 0:32:36I'm interested in the difference between this product and a lot of
0:32:36 > 0:32:38products that exist because, as you know, Maison du Chocolat,
0:32:38 > 0:32:42you have Artisan du Chocolat, and their product is quite different.
0:32:42 > 0:32:46- Yes.- Their product is predominantly a dark chocolate-based product
0:32:46 > 0:32:48with a great snap to it.
0:32:48 > 0:32:52This is a much more sugary, less cocoa content...
0:32:52 > 0:32:55I've got to be honest, to my palate,
0:32:55 > 0:32:58this is not in the league of Artisan du Chocolat, for example.
0:32:58 > 0:33:01It's just... It's just not.
0:33:01 > 0:33:02Everyone loves something sweet -
0:33:02 > 0:33:05and people don't have chocolate because it's healthy.
0:33:05 > 0:33:08We kind of sit in the middle ground. We're affordable luxury.
0:33:08 > 0:33:11We want to be... You know, folk want to be buying a product that...
0:33:11 > 0:33:13you don't get stung for that. We want to have a good quality,
0:33:13 > 0:33:16tasty product at an affordable price.
0:33:16 > 0:33:21It doesn't feel the same as some of the higher-end chocolates.
0:33:24 > 0:33:26For Nick Jenkins, it seems the chocolate
0:33:26 > 0:33:30hasn't left a bitter enough taste in his mouth.
0:33:30 > 0:33:33In a market saturated with high-end chocolate,
0:33:33 > 0:33:35can Deborah Meaden find another reason
0:33:35 > 0:33:38to invest in the affable entrepreneur?
0:33:38 > 0:33:42Chocolate is absolutely a really interesting space at the moment.
0:33:42 > 0:33:46But it is actually evolving and people are finding very clever ways
0:33:46 > 0:33:51of modernising and retailing something that actually is getting
0:33:51 > 0:33:54very, very saturated.
0:33:55 > 0:33:59My concern about what you're doing is that it has been done.
0:34:01 > 0:34:05Actually, you haven't seen an indication yet that the area
0:34:05 > 0:34:09you THINK is growth is actually going to be growth area.
0:34:11 > 0:34:14What else have you got up your sleeve, in terms of innovation?
0:34:14 > 0:34:17So, we are working in creating, actually,
0:34:17 > 0:34:19our own chocolate tea at the moment.
0:34:19 > 0:34:23Chocolate gin, chocolate rum or chocolate-branded golf balls.
0:34:23 > 0:34:26We believe we're the only company in the UK that do chocolate-branded
0:34:26 > 0:34:29golf balls. It's all about being different within the marketplace
0:34:29 > 0:34:32and that's what we'll continue to do going forward.
0:34:35 > 0:34:38There is a very different thing between a company wanting to have
0:34:38 > 0:34:41- their own logo on something... - Yes.- In which case, box things
0:34:41 > 0:34:43with their own logo on - they're just trying to get the logo out.
0:34:43 > 0:34:47In the gifting market, there's a subtlety to it.
0:34:47 > 0:34:50My concern about this, as an investment,
0:34:50 > 0:34:52is I've not seen enough in this product
0:34:52 > 0:34:56to convince me that this is going to break into an already
0:34:56 > 0:34:59quite competitive market.
0:35:00 > 0:35:03So, I'm afraid, for that reason, I'm out.
0:35:05 > 0:35:06OK.
0:35:08 > 0:35:09E-commerce mogul Nick Jenkins
0:35:09 > 0:35:12becomes the first Dragon to decline the deal -
0:35:12 > 0:35:16unimpressed with the taste of the chocolate and unconvinced about
0:35:16 > 0:35:19the corporate and gifting side of Jamie's business model.
0:35:21 > 0:35:23But serial restaurateur Sarah Willingham
0:35:23 > 0:35:28wants to know more about the retail side of his operation in Aberdeen.
0:35:29 > 0:35:34So, 88% of your business is a store...
0:35:34 > 0:35:36- Yep.- ..in Aberdeen?
0:35:38 > 0:35:40So, talk me through that operation.
0:35:40 > 0:35:43We do roughly about 250 kids' parties a year.
0:35:43 > 0:35:46We see just shy of about 1,000 folk a week
0:35:46 > 0:35:47through our retail store.
0:35:47 > 0:35:50We do about 600, 700 launches per week.
0:35:50 > 0:35:53And it's a 50-seater coffee shop we've got at the moment.
0:35:53 > 0:35:54What sort of turnover do you have?
0:35:54 > 0:35:59Yep. So, our business last year, a turnover of 490,000,
0:35:59 > 0:36:04we had a gross of 375,000 and a net of 2.5 there as well.
0:36:04 > 0:36:07- That was the whole business. - 2.5...?- 2.5 thousand, yes.
0:36:07 > 0:36:11So, why is it that you've only made £2,500 net?
0:36:11 > 0:36:14Because we've been in profit reinvestment in the last couple
0:36:14 > 0:36:16of years as well and really investing the money
0:36:16 > 0:36:19back into the training because chocolatiers take time to train.
0:36:21 > 0:36:26Basically, the only growth area for the business is going to be really
0:36:26 > 0:36:29hard to break into.
0:36:29 > 0:36:34Because you can't put your smile in front of every sale
0:36:34 > 0:36:37and your smile in front of every chocolate,
0:36:37 > 0:36:40I honestly think it's going to be quite difficult
0:36:40 > 0:36:44so, for an investment, I'm going to say...regrettably, I'm out.
0:36:46 > 0:36:49The Dragon with the lucrative track record
0:36:49 > 0:36:51in restaurant roll-outs bows out.
0:36:51 > 0:36:53But Deborah Meaden is on the fence.
0:36:53 > 0:36:58Can Jamie convince her he's got the calibre, and not just the charisma,
0:36:58 > 0:37:00to make the business scale?
0:37:00 > 0:37:01Jamie...
0:37:04 > 0:37:06I would love to work with you...
0:37:07 > 0:37:10..but there's a problem with your model, for me.
0:37:10 > 0:37:14- OK.- What is it that's going to get me over the line, that says,
0:37:14 > 0:37:17"This guy really knows what it's going to take
0:37:17 > 0:37:20"to flick that switch and make this business go"?
0:37:20 > 0:37:23- Make me invest in you! - OK, yeah.
0:37:23 > 0:37:25People buy from people. Of course.
0:37:25 > 0:37:28You invest in me as a business - I've created this brand.
0:37:28 > 0:37:30I don't sleep at night. I'm drilled to this business.
0:37:30 > 0:37:33100% passionate about it.
0:37:33 > 0:37:35The quality of product we deliver.
0:37:35 > 0:37:36The USP, yes, you're right enough -
0:37:36 > 0:37:40you can look at this product and think, well, it's every chocolatier.
0:37:40 > 0:37:42Well, no, it's not. It's the Cocoa Ooze way and how WE do it.
0:37:48 > 0:37:51You, I could work with any day of the week.
0:37:53 > 0:37:56But you won't be surprised to hear me say
0:37:56 > 0:37:59that my worry is the innovation side and,
0:37:59 > 0:38:04if I was disappointed in anything, it was your answer to that.
0:38:04 > 0:38:06You're right, Deborah. Where is the USP? It's a chocolate product,
0:38:06 > 0:38:09but the chocolate will sell because of the quality of it as well.
0:38:09 > 0:38:12- Jamie, you're going to have to stop. - Sorry.
0:38:15 > 0:38:17What I need to remember is, as soon as the business came in,
0:38:17 > 0:38:20the first thought that popped in my head is,
0:38:20 > 0:38:23"It might be lovely but I've seen all that before,
0:38:23 > 0:38:26- "so what is it that's going to make the difference?"- Yep.
0:38:26 > 0:38:29And I'm still not convinced
0:38:29 > 0:38:32that you've got enough of a differentiator.
0:38:34 > 0:38:37The business itself just isn't...
0:38:37 > 0:38:38isn't getting it for me.
0:38:39 > 0:38:42I'm really sorry to be saying this, but I won't be investing.
0:38:42 > 0:38:43I'm out.
0:38:46 > 0:38:49Close, but no cigar for Jamie,
0:38:49 > 0:38:53who finds itself unable to convince Deborah Meaden,
0:38:53 > 0:38:55and loses his third Dragon.
0:38:55 > 0:38:58Will the notoriously sweet-toothed Peter Jones
0:38:58 > 0:39:02be up for investing in the Aberdeen entrepreneur?
0:39:02 > 0:39:05Jamie, in terms of its growth potential,
0:39:05 > 0:39:09I think you are up against it with the other brands that are out there,
0:39:09 > 0:39:14that have invested substantially and yet lost money.
0:39:15 > 0:39:19You don't need, in my opinion, an investor like me.
0:39:19 > 0:39:21So, I'm going to wish you the very best of luck
0:39:21 > 0:39:23and send you on your way by NOT investing,
0:39:23 > 0:39:25because I don't think - if I did -
0:39:25 > 0:39:28that, A, I would add the value but, more importantly,
0:39:28 > 0:39:30get a return on my investment.
0:39:30 > 0:39:32- OK.- So that's why I'm going to say that I'm out,
0:39:32 > 0:39:35- but wish you the very best of luck. - Thank you.
0:39:37 > 0:39:40Peter Jones shows he's equally hard-centred
0:39:40 > 0:39:44when it comes to investing in Jamie's chocolate enterprise,
0:39:44 > 0:39:48and joins three other Dragons in declining the offer.
0:39:51 > 0:39:55Only high-street retailer Touker Suleyman remains.
0:39:56 > 0:40:00- You're giving me that smile, aren't you?- No, no, I'm not, no!
0:40:00 > 0:40:04Regardless, I know where I've been in business and where I've come
0:40:04 > 0:40:06from as well. I started with nothing...
0:40:06 > 0:40:08Enough. You've said plenty.
0:40:08 > 0:40:09- Yeah.- You've said plenty.
0:40:09 > 0:40:13- OK, thank you. - Look, I think you are the business.
0:40:15 > 0:40:18But at the end of the day, what you've proven is you've turned over
0:40:18 > 0:40:21nearly half a million and made no money.
0:40:21 > 0:40:24- True?- That's correct, yes.
0:40:28 > 0:40:32It's not really hard to, I say, replicate it, as much as...
0:40:32 > 0:40:35you know, it's a chocolate product, it's a recipe...
0:40:35 > 0:40:36Enough.
0:40:36 > 0:40:37Sorry, sorry.
0:40:37 > 0:40:39Look, I'll get to the point.
0:40:42 > 0:40:43I'm going to make you an offer.
0:40:43 > 0:40:44OK.
0:40:45 > 0:40:48But because of where you are...
0:40:48 > 0:40:50- Yes.- Because of where you want to go
0:40:50 > 0:40:54- and the amount of help you're going to need...- OK.
0:40:54 > 0:40:57- ..to grow internationally and in London, and whatever.- Yes.
0:40:57 > 0:41:01I'm going to offer you all the money, but I want 35%.
0:41:02 > 0:41:03OK.
0:41:06 > 0:41:10- You can go to the wall if you want. - The famous wall? OK.
0:41:10 > 0:41:11- The famous wall.- Thank you.
0:41:13 > 0:41:15It's a bittersweet offer from Touker Suleyman.
0:41:15 > 0:41:19He wants three-and-a-half times the 10% on offer -
0:41:19 > 0:41:24a hefty 35% chunk out of Jamie's chocolate empire.
0:41:31 > 0:41:35I wouldn't be a true Aberdonian if I didn't challenge anything.
0:41:35 > 0:41:37If you're happy, when you get your money back,
0:41:37 > 0:41:39are you happy to lower your percentage?
0:41:39 > 0:41:41Once you get your money back.
0:41:41 > 0:41:43Once I get my money back, I'll lower it to 20.
0:41:45 > 0:41:47Fantastic. I'm happy to invest.
0:41:47 > 0:41:50- OK.- Thank you very much. Fantastic. Thank you very much.
0:41:50 > 0:41:53Congratulations, and I'm pleased you've got a great Dragon
0:41:53 > 0:41:55- on your team.- And I look forward to working with you.
0:41:55 > 0:41:57Thank you, I appreciate that.
0:41:57 > 0:41:59And I look forward to eating lots of chocolate!
0:41:59 > 0:42:02- Jamie, well done. Well done. - Perfect. Thank you very much
0:42:02 > 0:42:04for your time. I appreciate it. Thank you.
0:42:04 > 0:42:06- Thank you.- See you later. - Life is like a box of chocolates -
0:42:06 > 0:42:09you never know what you're going to get.
0:42:09 > 0:42:11And Jamie's picked up a deal.
0:42:14 > 0:42:17Getting that offer was a sigh of relief, it really was.
0:42:17 > 0:42:19It was a breath of fresh air.
0:42:21 > 0:42:25I've come here with nothing, I go away with a well-connected Dragon.
0:42:36 > 0:42:38- Here we go. Ready?- Come on, mate.
0:42:38 > 0:42:42- Good luck.- Finally, in the Den, Steven Davis and Matthew Allen,
0:42:42 > 0:42:46who believe there's a market for people who want to do a bit more
0:42:46 > 0:42:48on their holiday than just lie on a beach,
0:42:48 > 0:42:51and they think Peter Jones could be their perfect partner.
0:42:51 > 0:42:55He's looking mean. He's looking mean. We want you.
0:42:55 > 0:42:57With Peter playing tennis,
0:42:57 > 0:43:00that would be so good for us to have him on board.
0:43:03 > 0:43:05Will I do some keep-me-ups?
0:43:05 > 0:43:06We bounce off each other quite well
0:43:06 > 0:43:08and we both have different skill sets.
0:43:08 > 0:43:12I know Matt'll have my back if things happen, and vice versa.
0:43:12 > 0:43:14So, I think that's going to help us a lot.
0:43:23 > 0:43:27My name's Steven Davis and this is my business partner, Matthew Allen.
0:43:27 > 0:43:31We are here today to ask for £25,000 for a 5% share
0:43:31 > 0:43:35of our holiday business Active Away.
0:43:35 > 0:43:38Active Away was founded by myself ten years ago.
0:43:38 > 0:43:43I was working as a coach and one of my good clients was due to turn 40.
0:43:43 > 0:43:47And his wife asked me if I could organise a tennis holiday for him
0:43:47 > 0:43:49and three of his best friends.
0:43:49 > 0:43:51So, I arranged the trip, took them to Spain,
0:43:51 > 0:43:55had a fantastic time, with them all asking when the next holiday
0:43:55 > 0:43:57was going to be upon our return.
0:43:57 > 0:43:59Since then, we've grown considerably.
0:43:59 > 0:44:01This year, we're running 40 weeks of holidays.
0:44:01 > 0:44:04We're turning over just over £1 million and forecast to take away
0:44:04 > 0:44:09900 people. Last year, we've turned over just over £750,000.
0:44:09 > 0:44:11The year before that, 560,000.
0:44:11 > 0:44:15Active Away holidays are for sporty singles,
0:44:15 > 0:44:18couples and families who travel out, as individuals,
0:44:18 > 0:44:21and then come together on the week as a group.
0:44:21 > 0:44:24The tennis programme we put on consists of coaching,
0:44:24 > 0:44:27afternoon match-play sessions,
0:44:27 > 0:44:30an end-of-week social tournament and a pros exhibition match.
0:44:30 > 0:44:34We know we have a great product cos over 85% of our customers book
0:44:34 > 0:44:36again with us. Thanks for listening.
0:44:36 > 0:44:38If you've got any questions, please fire away.
0:44:39 > 0:44:43A practised pitch from Steven Davis and Matthew Allen.
0:44:43 > 0:44:46They're looking for £25,000
0:44:46 > 0:44:49in return for a 5% stake in their company.
0:44:49 > 0:44:54A modest ask for a business claiming an impressive turnover.
0:44:54 > 0:44:57High-street retailer Touker Suleyman has always got his eye on the
0:44:57 > 0:45:02bottom line and wastes no time getting to grips with the finances.
0:45:03 > 0:45:07Let's talk numbers because you turned over £750,000.
0:45:07 > 0:45:08Yep.
0:45:11 > 0:45:13What was your gross profit?
0:45:13 > 0:45:20Gross was about 30%, so we were around about 180,000, 190,000.
0:45:20 > 0:45:23- 180 gross, yep. - Net profit was around 65,000.
0:45:23 > 0:45:26- Carry on talking. - So...
0:45:26 > 0:45:29I've only looked at the post-tax profits,
0:45:29 > 0:45:31so we were looking at 85 post-tax.
0:45:33 > 0:45:36He fancied a cocktail. I don't blame him.
0:45:36 > 0:45:37I'm not sure how nice they're going to be.
0:45:37 > 0:45:39How good are you at keepy-uppies?
0:45:39 > 0:45:41Not bad. Probably better than you, I reckon.
0:45:43 > 0:45:46He's good. Oh, don't. Oh, there you go.
0:45:46 > 0:45:50Touker Suleyman's financial shots have been intercepted by the tennis
0:45:50 > 0:45:54duo's number-one target, Peter Jones.
0:45:54 > 0:45:57This is what it's like in the sun, is it?
0:45:57 > 0:46:00- You just relax, Peter.- You're giving me the workout that I need.
0:46:00 > 0:46:04Don't work too hard. We'll chase the ball for you.
0:46:04 > 0:46:05Oi!
0:46:05 > 0:46:08- Thank you very much. - With the warm-up over,
0:46:08 > 0:46:12it's down to Sarah Willingham to keep up the volley of questions.
0:46:16 > 0:46:18What about new customers? Where are they coming from?
0:46:18 > 0:46:22So, the majority of new customers is really through client referrals or
0:46:22 > 0:46:26- coach referrals.- We get coaches at local tennis clubs to sell the
0:46:26 > 0:46:27holiday to their clients.
0:46:27 > 0:46:32We pay that coach £50 per head for everyone that he brings on that
0:46:32 > 0:46:35holiday. So, if he brings a group of 20 people out with him,
0:46:35 > 0:46:38he'll get £1,000 and a free holiday.
0:46:38 > 0:46:42What we've worked out is that they're worth about £1,000 to us
0:46:42 > 0:46:44every time we get a new customer.
0:46:44 > 0:46:47You must know the value of that consumer,
0:46:47 > 0:46:50because that consumer repeat-orders.
0:46:50 > 0:46:52- Exactly.- 85%.
0:46:52 > 0:46:55And then refers. I mean, it's massive.
0:46:55 > 0:46:58We think it's going to be around three to four bookings someone will
0:46:58 > 0:47:00make with us, as an average, before they might drop off.
0:47:04 > 0:47:07A company enjoying repeat business year on year.
0:47:07 > 0:47:10It's music to a Dragon's ears.
0:47:10 > 0:47:13Peter Jones was impressed by their serve,
0:47:13 > 0:47:16so is he equally impressed by their commercial savvy?
0:47:19 > 0:47:21How about we just cut to the chase?
0:47:21 > 0:47:23What are you going to do with £25,000
0:47:23 > 0:47:25to create this into an amazing business?
0:47:25 > 0:47:28We're both not under the illusion that £25,000 is going to take
0:47:28 > 0:47:32the company from where we are now to where we want to be in the future.
0:47:32 > 0:47:34What we're hoping for is that having a Dragon on board,
0:47:34 > 0:47:37that will help take the business forward.
0:47:37 > 0:47:40The money is more of a secondary aspect for us, really.
0:47:40 > 0:47:44I understand what you're doing but, for 5%, it's still...
0:47:44 > 0:47:45You're making me feel like
0:47:45 > 0:47:49you're showing me a sweetie shop cos you know that I quite like sweets,
0:47:49 > 0:47:54so you're inviting me in to try one but you know that, potentially,
0:47:54 > 0:47:55I might end up wanting them all.
0:48:00 > 0:48:05Peter Jones hints that the 5% on offer is just not worth his while.
0:48:05 > 0:48:10Stephen and Matthew risk alienating the Dragon they came in to net.
0:48:11 > 0:48:14Deborah Meaden has a lucrative track record in the holiday and leisure
0:48:14 > 0:48:19industry. Can they convince her they have the credentials to keep ahead
0:48:19 > 0:48:21of the competition?
0:48:21 > 0:48:23This is an area I'm really, really familiar with.
0:48:23 > 0:48:25So, what's YOUR background?
0:48:25 > 0:48:27Started as a tennis coach.
0:48:27 > 0:48:29Just working from the age of 20.
0:48:29 > 0:48:31I set up my own school of tennis.
0:48:31 > 0:48:34I just had this dream of producing a Wimbledon champion.
0:48:34 > 0:48:37Realised quite quickly it wasn't for me.
0:48:37 > 0:48:39Then I got a job at David Lloyd Leisure.
0:48:39 > 0:48:42While I was there, that's when Active Away came about.
0:48:42 > 0:48:44- What about you?- We pretty much had the same passion.
0:48:44 > 0:48:47My passion was working with performance kids.
0:48:47 > 0:48:50Then Steve basically was...
0:48:50 > 0:48:52kind of pulling your hair out a little bit and needed some help.
0:48:52 > 0:48:54So, he offered me part of the company
0:48:54 > 0:48:56to come on board and I've definitely not regretted it.
0:48:56 > 0:48:59Now you need to stop talking, cos I'm about to make you an offer.
0:49:04 > 0:49:07I'm going to offer you £25,000.
0:49:10 > 0:49:12And I want 15% of the business.
0:49:16 > 0:49:17A surprise offer,
0:49:17 > 0:49:21but it comes with a sting in its tail as Deborah Meaden
0:49:21 > 0:49:24asks for three times the amount of equity
0:49:24 > 0:49:27that the entrepreneurs are offering.
0:49:27 > 0:49:31Will Nick Jenkins also jump at a deal?
0:49:33 > 0:49:36I actually own a significant stake in a business that's quite similar.
0:49:36 > 0:49:39It does fitness holidays and it also does yoga holidays.
0:49:39 > 0:49:40It has three brands.
0:49:40 > 0:49:42And it has a similar turnover.
0:49:43 > 0:49:47My concern is that, as you get above a certain level,
0:49:47 > 0:49:52you lose some of that ruthless efficiency of being small.
0:49:52 > 0:49:55It's a difficult business to scale up beyond a certain point.
0:49:57 > 0:49:59And...
0:49:59 > 0:50:02That's the reason I'm not going to invest, so I'm out.
0:50:04 > 0:50:09It's a disappointing drop shot for the duo as concerns over scalability
0:50:09 > 0:50:11lose them their first Dragon.
0:50:11 > 0:50:15But Touker Suleyman thinks he's spotted value
0:50:15 > 0:50:18in the bespoke tennis holiday experience.
0:50:20 > 0:50:22I'm going to make you an offer.
0:50:22 > 0:50:26I think I can definitely help you...
0:50:28 > 0:50:29..with contacts.
0:50:29 > 0:50:34I can offer you accommodation to have a head office.
0:50:34 > 0:50:36The fact that I can offer you accommodation
0:50:36 > 0:50:41is the offices that I'm based at, so you can mentor with me whenever.
0:50:43 > 0:50:45It's a very, very different situation to the others,
0:50:45 > 0:50:47but I'm more hands-on.
0:50:48 > 0:50:50How do you know, Touker? We had this conversation before.
0:50:50 > 0:50:52They're going to be in my office.
0:50:52 > 0:50:55I'm going to be there. Are they going to be in your office?
0:50:55 > 0:50:57- No.- No. Correct.- You're not going to be in my office.
0:50:57 > 0:50:59So, please don't query it. Sorry, guys. I'm just being
0:50:59 > 0:51:02very passionate about what I'm offering you.
0:51:05 > 0:51:06I'm going to match Deborah's offer.
0:51:06 > 0:51:10Give you all the money for 15%.
0:51:10 > 0:51:13- Right, thank you very much. - Thank you very much.
0:51:15 > 0:51:19Some serious gameplay from Touker Suleyman, as he locks horns with
0:51:19 > 0:51:24fellow Dragon Deborah Meaden, but matches her investment bid.
0:51:24 > 0:51:28Tennis enthusiast Peter Jones is the Dragon they really want in their
0:51:28 > 0:51:31board meetings, but will he play ball?
0:51:33 > 0:51:36I normally will find reasons and good reasons
0:51:36 > 0:51:38to desecrate your business
0:51:38 > 0:51:40in front of the other four Dragons in the hope
0:51:40 > 0:51:43that they will pick onto it and then, right at the end,
0:51:43 > 0:51:46come in with an offer. But it's not going to happen this way today.
0:51:49 > 0:51:51Guys, I love it.
0:51:52 > 0:51:55I'm going to offer you all of the money, obviously,
0:51:55 > 0:51:57and this isn't for splitting, Dragons,
0:51:57 > 0:52:00I have no interest in sharing any of it with any of you.
0:52:00 > 0:52:03£25,000,
0:52:03 > 0:52:07but I want 25% of the business.
0:52:07 > 0:52:08HE WHISTLES
0:52:10 > 0:52:13Early concerns about a lack of equity on offer
0:52:13 > 0:52:18are set aside by the Dragon with a passion for all things tennis.
0:52:18 > 0:52:22But Steven and Matthew's top target comes at a price and they'll have to
0:52:22 > 0:52:26give away a quarter of the company to secure him.
0:52:26 > 0:52:29Will Sarah Willingham table a more competitive bid?
0:52:32 > 0:52:34I'm going to make you an offer.
0:52:36 > 0:52:38I think 25% is ridiculous.
0:52:38 > 0:52:41- Sorry, Peter. - You have no idea, though, so...
0:52:41 > 0:52:45- Of course I do.- ..The value that brings.- Here we go. Here we go.
0:52:47 > 0:52:49I'm actually going to offer you all the money for 10%,
0:52:49 > 0:52:51cos I think that's a very fair offer.
0:52:53 > 0:52:56Dragon turns on Dragon, as Sarah Willingham
0:52:56 > 0:52:59undercuts Peter Jones by more than half.
0:52:59 > 0:53:04Four multimillionaires are now vying for the business.
0:53:04 > 0:53:06Guys, it's decision time.
0:53:06 > 0:53:09- Yep.- Can we had a few minutes to have a chat?
0:53:09 > 0:53:10- Have a think and have a chat.- Yes.
0:53:14 > 0:53:18- That's gone well.- I'm really happy.
0:53:20 > 0:53:21- OK?- Yeah.
0:53:26 > 0:53:29We have a question back for the Dragons, if that's OK.
0:53:29 > 0:53:33We would like to know what your vision would be for us.
0:53:33 > 0:53:36We will put that to you, Peter, first, if that's all right.
0:53:36 > 0:53:39I am incredibly passionate and have been since a kid
0:53:39 > 0:53:40at the age of seven,
0:53:40 > 0:53:44when I wanted to win Wimbledon, passionate about tennis.
0:53:44 > 0:53:47I used to sleep with my tennis racquet until I was about 15.
0:53:47 > 0:53:50- Same as me! - And I don't mind admitting that.
0:53:50 > 0:53:53Tennis is my love, my passion.
0:53:53 > 0:53:54When you're in a business like this,
0:53:54 > 0:53:57you have to have that passion
0:53:57 > 0:54:00that keeps you wanting to be part of it.
0:54:00 > 0:54:05And if you desperately wanted me over the other three Dragons,
0:54:05 > 0:54:07which I wouldn't blame you for,
0:54:07 > 0:54:11then I would be willing to potentially negotiate on the offer.
0:54:11 > 0:54:13OK. Thank you.
0:54:14 > 0:54:16I think I'm slightly different
0:54:16 > 0:54:18because I don't just see it as tennis.
0:54:18 > 0:54:21You should be, if you get this right,
0:54:21 > 0:54:25the absolute go-to choice if you want a group active holiday.
0:54:25 > 0:54:28In terms of the practicalities of that,
0:54:28 > 0:54:30it's been my life.
0:54:32 > 0:54:34I don't know if I've answered you enough.
0:54:34 > 0:54:35Do you want to ask me anything
0:54:35 > 0:54:39about my specific skills in the industry I spent 25 years in?
0:54:41 > 0:54:43- I don't.- Thank you.
0:54:46 > 0:54:48I can offer you a marketing team,
0:54:48 > 0:54:53an online team and a platform to put your website on.
0:54:53 > 0:54:58There's a whole infrastructure that makes you "legit", as they call it,
0:54:58 > 0:55:00in an office space.
0:55:03 > 0:55:04You've got a great name.
0:55:04 > 0:55:09I think you can own the group holiday space, I really do.
0:55:09 > 0:55:14- I believe that, too.- You have proven that you can do that model so well,
0:55:14 > 0:55:16and it's almost like...
0:55:16 > 0:55:19You're kind of almost cookie-cuttering
0:55:19 > 0:55:20the replication of it.
0:55:20 > 0:55:22When you do that in a business,
0:55:22 > 0:55:25that's the moment that you've really created value,
0:55:25 > 0:55:27that you can just roll it out.
0:55:32 > 0:55:37Could we just ask you, Peter, what would be your revised offer?
0:55:40 > 0:55:42I've offered you 25%.
0:55:44 > 0:55:46I would be willing to drop to 20%.
0:55:46 > 0:55:51But the minute that my money is repaid, which is only £25,000,
0:55:51 > 0:55:55it could be in a heartbeat, I would go down to 15%.
0:55:56 > 0:55:58OK.
0:56:00 > 0:56:03- I think we need to chat again. - Sorry. Thank you.
0:56:04 > 0:56:07The prize money is in touching distance,
0:56:07 > 0:56:08but will they go for value,
0:56:08 > 0:56:11infrastructure and contact...
0:56:11 > 0:56:13a holiday specialist...
0:56:13 > 0:56:15or the Dragon who just loves to play tennis?
0:56:17 > 0:56:18OK.
0:56:20 > 0:56:22OK, firstly, I just want to say thank you so much
0:56:22 > 0:56:24for your time today.
0:56:32 > 0:56:33We'd like to go with you, Peter.
0:56:33 > 0:56:36Great. Wahey!
0:56:38 > 0:56:42- Thank you.- Game, set and match to Peter Jones.
0:56:42 > 0:56:46Also leaving court victorious are Steven and Matthew,
0:56:46 > 0:56:52with £25,000 of Dragon capital for 20% of their company.
0:56:52 > 0:56:54- Yes!- Unbelievable!
0:56:54 > 0:56:56I'm so happy.
0:56:56 > 0:57:00I think we've just played the best five-set match of our life.
0:57:00 > 0:57:03And won it 8-6 in the fifth set.
0:57:03 > 0:57:05Come on!
0:57:06 > 0:57:09- Love it. I'm really excited. - Yeah. It's good.
0:57:11 > 0:57:14I think... I'm going to get emotional now.
0:57:15 > 0:57:17My mum, if she was still alive,
0:57:17 > 0:57:20she would see today and she would be so proud of me.
0:57:20 > 0:57:23I know my dad's going to be really proud, too.
0:57:31 > 0:57:34An emotional end to a competitive session in the Den,
0:57:34 > 0:57:35which proves that,
0:57:35 > 0:57:38as an entrepreneur, you just have to grab an opportunity
0:57:38 > 0:57:40when it presents itself.
0:57:40 > 0:57:44Peter Jones and Touker Suleyman showed goodwill as they invested
0:57:44 > 0:57:48in a tennis holiday business and Scottish artisan chocolate,
0:57:48 > 0:57:50but slightly rebellious socks,
0:57:50 > 0:57:52foldaway dog beds and dance mats
0:57:52 > 0:57:57sadly didn't make the Dragons' Christmas stockings.
0:57:57 > 0:57:59- THUD! - Oh!
0:57:59 > 0:58:03Still to come in this series of Dragons' Den...
0:58:03 > 0:58:05Dragons, I'm a multimillionaire.
0:58:05 > 0:58:07I don't need money.
0:58:07 > 0:58:09I'm oot!
0:58:09 > 0:58:11Oh, yes. Oh, yes! Now we're talking.
0:58:13 > 0:58:15Do you understand you are standing in Dragons' Den?
0:58:15 > 0:58:18You know the deal, you come into the Den, everything is on air.
0:58:18 > 0:58:22And you've worked in three investment banks, God help us.
0:58:22 > 0:58:24You could blow this.
0:58:24 > 0:58:26It's a black hole, just eating money.
0:58:26 > 0:58:29You're valuing a business that so far has made £1,000 profit
0:58:29 > 0:58:32- at £1 million. - Yeah, if I'm able to answer...
0:58:32 > 0:58:34I'd love to find out what you're going to say.
0:58:34 > 0:58:37You actually got me very, very early on.
0:58:37 > 0:58:40I've come to the conclusion I'd like to invest in YOU.
0:58:40 > 0:58:43- I'm going to make an offer. - All of the money for 10%.
0:58:43 > 0:58:45You definitely need to go and have a little chat.
0:58:45 > 0:58:47Ooh!