0:00:02 > 0:00:05The Dragons are back.
0:00:05 > 0:00:09And tonight, two new fire-breathers are unleashed,
0:00:09 > 0:00:10and are taking no prisoners.
0:00:11 > 0:00:14Unless I'm missing something, I think this is barking mad.
0:00:15 > 0:00:17But why do you need £600,000 today
0:00:17 > 0:00:19if you haven't got a plan for it?
0:00:19 > 0:00:21They are...
0:00:21 > 0:00:24the former banker who sold a cashpoint company
0:00:24 > 0:00:26for a cool £50 million...
0:00:28 > 0:00:33..and head of the UK's number one vitamin business...
0:00:34 > 0:00:36They've got some fierce competition,
0:00:36 > 0:00:38and for the entrepreneurs who will face them...
0:00:38 > 0:00:40- SHE WHISPERS:- Oh, my God.
0:00:40 > 0:00:43..this will be the toughest business pitch of their lives.
0:00:43 > 0:00:46You are valuing your business on something that hasn't happened yet,
0:00:46 > 0:00:48and I'm telling you it's ludicrous.
0:00:50 > 0:00:52I'm exasperated. Are you hearing these words?
0:00:52 > 0:00:54Yeah, yeah, I agree, yeah.
0:00:54 > 0:00:57Am I going to part with my money with you?
0:00:58 > 0:01:00No.
0:01:00 > 0:01:03But who will strike the best deal tonight?
0:01:04 > 0:01:07- It's got me excited. - I'm going to make you an offer.
0:01:07 > 0:01:10I will add value, not just be a passive investor.
0:01:10 > 0:01:12I love this.
0:01:13 > 0:01:14Tej?
0:01:16 > 0:01:17Let's do it.
0:01:50 > 0:01:54Welcome to Dragons' Den, open for business again,
0:01:54 > 0:01:55but with some big changes,
0:01:55 > 0:01:58as two new Dragons join our line-up
0:01:58 > 0:02:00of fantastic beasts of commerce.
0:02:00 > 0:02:02And first to feel the heat of the Den
0:02:02 > 0:02:05are Julianne Ponan and Matthew Ford from Surrey.
0:02:05 > 0:02:08They've been preparing their pitch for months,
0:02:08 > 0:02:11but proved that when those lift doors open,
0:02:11 > 0:02:15entering the Den really can be a terrifying prospect.
0:02:18 > 0:02:19- SHE WHISPERS:- Hi, Dragons, I'm...
0:02:19 > 0:02:21Hi, Dragons, I'm Julianne.
0:02:23 > 0:02:25I'm so scared.
0:02:25 > 0:02:27I'm shaking.
0:02:27 > 0:02:29We did apply for Dragons' Den before,
0:02:29 > 0:02:32and I was too nervous to take it any further.
0:02:32 > 0:02:34- SHE WHISPERS:- Oh, my God.
0:02:35 > 0:02:38You get one shot in front of these amazing entrepreneurs.
0:02:38 > 0:02:41My heart is going a million miles an hour.
0:02:44 > 0:02:46I'm just absolutely bricking it.
0:02:47 > 0:02:50- My heart is racing. - I'm forgetting everything,
0:02:50 > 0:02:53everything I need to say, I'm basically forgetting now.
0:03:05 > 0:03:09Hi, Dragons, I'm Julianne, owner and CEO of Creative Nature.
0:03:10 > 0:03:12This is my operations manager, Matthew.
0:03:12 > 0:03:16I'm here today to ask you for £75,000 investment
0:03:16 > 0:03:19for 5% of my company.
0:03:19 > 0:03:22Creative Nature have three core product ranges.
0:03:22 > 0:03:25Our multi-award-winning free-from snack bars,
0:03:25 > 0:03:28our nutrient rich superfoods
0:03:28 > 0:03:32and our innovative baking mixes
0:03:32 > 0:03:34that cater for all top 14 allergens.
0:03:34 > 0:03:38They're organic and have a vegan recipe on pack.
0:03:38 > 0:03:42The inspiration behind Creative Nature comes from my own allergies.
0:03:42 > 0:03:43I suffer from anaphylaxis,
0:03:43 > 0:03:47which means I stop breathing when I eat nuts and certain additives.
0:03:47 > 0:03:51I could not find anything in the supermarkets that could cater for
0:03:51 > 0:03:54this that was healthy AND tasty so I decided to create my own.
0:03:56 > 0:03:59We already have a proven track record in the market,
0:03:59 > 0:04:02and are sold in Asda, Lloyds Pharmacy, TK Maxx,
0:04:02 > 0:04:04Ocado, Vital Ingredients,
0:04:04 > 0:04:07and many independent health stores.
0:04:07 > 0:04:09And on top of this, we've just secured a launch in Co-op
0:04:09 > 0:04:11for over 2,000 stores
0:04:11 > 0:04:15in the impulse section for our snack bars.
0:04:15 > 0:04:17This contract is worth £1 million
0:04:17 > 0:04:19in the first 12 months.
0:04:19 > 0:04:22I would love you to try some of our products.
0:04:24 > 0:04:28The first nerve-racking hurdle is out of the way for anxious
0:04:28 > 0:04:31entrepreneurs Julianne Ponan and Matthew Ford,
0:04:31 > 0:04:36who are looking for investment in their range of free-from foods.
0:04:36 > 0:04:39The snack bars, you've got Apple Pie,
0:04:39 > 0:04:40Salted Caramel
0:04:40 > 0:04:43and Goji Goodness.
0:04:43 > 0:04:45But to secure £75,000
0:04:45 > 0:04:47for 5% of their business,
0:04:47 > 0:04:51there's just that small matter of the Dragons' interrogation
0:04:51 > 0:04:53to get through.
0:04:53 > 0:04:55First up, new Dragon, Manchester-born
0:04:55 > 0:04:58self-made millionaire Jenny Campbell.
0:05:01 > 0:05:03Julianne, you look terrified!
0:05:03 > 0:05:05Absolutely terrified.
0:05:05 > 0:05:07You started the business how long ago?
0:05:07 > 0:05:11Um, so that was nearly five years ago, so it's 2012.
0:05:11 > 0:05:12All right, then, OK.
0:05:12 > 0:05:14And Matthew, how long have you been part of this journey?
0:05:14 > 0:05:16- From the beginning. - You knew each other?
0:05:16 > 0:05:20Yeah, so we actually worked at a supermarket together
0:05:20 > 0:05:24- back before we both went to university.- OK.
0:05:24 > 0:05:27So I was pulling trolleys and Julianne was on the tills.
0:05:27 > 0:05:29All right, OK. Do you split the shareholding?
0:05:29 > 0:05:30- No.- No.
0:05:32 > 0:05:35I don't own any of the business.
0:05:35 > 0:05:38I don't understand, Matthew - if you've been there since the start...
0:05:38 > 0:05:40- Yes.- ..why don't you own part of the business?
0:05:40 > 0:05:42Um, I've never asked for part of the business.
0:05:42 > 0:05:45I'm just happy to work for and alongside Julianne.
0:05:47 > 0:05:50And how important are you, Matthew? If you weren't in the business...
0:05:50 > 0:05:53I would say I'm vital for the business.
0:05:53 > 0:05:55Julianne, how critical is Matthew?
0:05:55 > 0:05:59Matthew is very valuable in the company, and I think he knows that.
0:05:59 > 0:06:02- He's never talked about shares, actually, at all.- Why...
0:06:02 > 0:06:04My question is, why haven't you?
0:06:07 > 0:06:08Why haven't I?
0:06:08 > 0:06:10We're actually together as well.
0:06:10 > 0:06:13- What do you mean, together? - You're partners.- We're partners.
0:06:13 > 0:06:14Partners, yep.
0:06:14 > 0:06:16So I have a, I guess,
0:06:16 > 0:06:18a vested interest in making the company grow.
0:06:18 > 0:06:21You have a vested interest until, you know, she leaves you.
0:06:23 > 0:06:25An awkward moment, as Peter Jones questions
0:06:25 > 0:06:29the strength of the entrepreneurs' multifaceted partnership.
0:06:29 > 0:06:31And now, ex-banker Jenny Campbell
0:06:31 > 0:06:36wants to get her teeth into their sales figures.
0:06:36 > 0:06:38OK, so tell me about the last three years' trading.
0:06:38 > 0:06:40So, 2015, we turned over
0:06:40 > 0:06:43- £465,000...- Mm-hmm.
0:06:43 > 0:06:47- ..with a net profit of £36,000. - Mm-hmm.
0:06:47 > 0:06:492016, we grew turnover
0:06:49 > 0:06:51to £528,000,
0:06:51 > 0:06:55with a net profit of £15,000.
0:06:55 > 0:06:57In the last five months, in 2017,
0:06:57 > 0:07:00we have turned over currently £270,000,
0:07:00 > 0:07:03with a net profit of £18,000.
0:07:03 > 0:07:06OK, so something strange is happening in the numbers here.
0:07:07 > 0:07:11What happens in 2016 that you then go to a lower net profit?
0:07:11 > 0:07:12Net profit.
0:07:12 > 0:07:16So, what's happened is that I spent a lot on marketing.
0:07:16 > 0:07:20I also overspent on some of the listing fees, which was a mistake.
0:07:20 > 0:07:22Going forward with the new business,
0:07:22 > 0:07:25I have actually negotiated no listing fees.
0:07:28 > 0:07:30Julianne's finding her feet,
0:07:30 > 0:07:32and proving that beneath the jitters
0:07:32 > 0:07:35lies a savvy businesswoman who can learn from her mistakes.
0:07:36 > 0:07:38And it looks like Deborah Meaden
0:07:38 > 0:07:41is feeling confident about the brand's potential.
0:07:44 > 0:07:48OK, what I'm particularly interested in
0:07:48 > 0:07:51is this whole gluten-free, vegan.
0:07:51 > 0:07:53You know, people are stopping wanting to have to
0:07:53 > 0:07:56look at the packets. They'd like to be able to go to an area that said,
0:07:56 > 0:07:59actually, that's free of everything so that's fine.
0:07:59 > 0:08:01So, what is it that you're looking for?
0:08:01 > 0:08:05I think there's going to be problems down the road with supermarkets,
0:08:05 > 0:08:08- as they will always push you on... - Margin. I'm glad you...
0:08:08 > 0:08:09You obviously recognise the margin thing
0:08:09 > 0:08:12because I think that will be your single biggest issue,
0:08:12 > 0:08:14as you roll out - that margin gets tighter and tighter.
0:08:14 > 0:08:18Yeah, and I think that's where you guys can really come in and say,
0:08:18 > 0:08:21"This buyer wants this in particular. Can we innovate?
0:08:21 > 0:08:24"Can we change the product to get into store this way?"
0:08:24 > 0:08:29And I think you guys will open those extra doors for me.
0:08:29 > 0:08:32Julianne, I want to know about this contract you've just signed.
0:08:32 > 0:08:34The Co-op £1 million contract, tell me about that.
0:08:34 > 0:08:35It's 2,367 stores,
0:08:35 > 0:08:39we've got an e-mail confirming our Storm account.
0:08:39 > 0:08:42And we've based this on actual rate of sale in Asda at the moment,
0:08:42 > 0:08:45and we sell at eight bars per store per week.
0:08:45 > 0:08:49If you times that out, it works out at a £1 million contract.
0:08:52 > 0:08:54Julianne, that really worries me, that answer.
0:08:54 > 0:08:57- MATTHEW:- Oh.
0:08:57 > 0:08:59You are forecasting. That wasn't to say that you...
0:08:59 > 0:09:01I'm proving the rate of sale in Asda...
0:09:01 > 0:09:03Well, yeah, but when I get a contract,
0:09:03 > 0:09:06I'll get actually a forward order. You've got an initial order,
0:09:06 > 0:09:10and then you're... you are then pre-supposing sell-through
0:09:10 > 0:09:12based on another provider.
0:09:12 > 0:09:16So, you're valuing your business on something that hasn't happened yet.
0:09:16 > 0:09:18It's because we've already secured these clients.
0:09:18 > 0:09:20Well, you haven't secured the clients.
0:09:20 > 0:09:23At the moment, you've got an opening order and you're valuing your
0:09:23 > 0:09:25business today at 1.5 million and I'm telling you it's ludicrous.
0:09:29 > 0:09:31Um... What have we predicted?
0:09:31 > 0:09:34We've predicted a 70K profit this year.
0:09:34 > 0:09:3870K profit? So what does that value your business at, then?
0:09:38 > 0:09:4120 times its income of a business that's not established?
0:09:45 > 0:09:48I feel disappointed because this is something that I would have loved
0:09:48 > 0:09:50to have invested in, and I think you're great.
0:09:50 > 0:09:52But I'm not going to sit here and waste time,
0:09:52 > 0:09:54so I'm going to tell you I'm sorry, but I'm out.
0:09:56 > 0:10:00If there's a guaranteed way to get Peter Jones' hackles up,
0:10:00 > 0:10:05it's with an overgenerous valuation on a fledgling business.
0:10:05 > 0:10:07As he exits the deal,
0:10:07 > 0:10:09will new Dragon Tej Lalvani
0:10:09 > 0:10:12see a place for this free-from food company
0:10:12 > 0:10:14in his global health empire?
0:10:15 > 0:10:19Julianne, you need to give yourself a lot more credit.
0:10:19 > 0:10:23I think you've got a good range of products, and the free-from
0:10:23 > 0:10:24is definitely a growing market,
0:10:24 > 0:10:27but margin is very important.
0:10:27 > 0:10:31Your margin needs to be much higher, at the end of the day.
0:10:31 > 0:10:33Your business could be gone overnight
0:10:33 > 0:10:35if your margins are not there.
0:10:46 > 0:10:47I'm not decided yet.
0:10:50 > 0:10:54While vitamin king Tej Lalvani chews things over,
0:10:54 > 0:10:56Jenny Campbell is weighing up the value
0:10:56 > 0:10:59she can add to the duo's allergy friendly business.
0:11:02 > 0:11:04You have done fantastically so far,
0:11:04 > 0:11:06but you are at this juncture
0:11:06 > 0:11:08where you need some help.
0:11:09 > 0:11:13I find myself more drawn to wanting to help you believe in yourself
0:11:13 > 0:11:15and motivate yourself
0:11:15 > 0:11:17than I'm drawn to the product,
0:11:17 > 0:11:20and that's not why I'm here as an investor.
0:11:22 > 0:11:24So, I'm out.
0:11:25 > 0:11:27Guys...
0:11:27 > 0:11:29Very amazed at your knowledge.
0:11:30 > 0:11:33All the way through from finance to delivery,
0:11:33 > 0:11:36you know, you're a real entrepreneur.
0:11:36 > 0:11:39However, your valuation is crazy.
0:11:39 > 0:11:41Crazy! Crazy, crazy.
0:11:41 > 0:11:44So, for that reason, I'm out.
0:11:47 > 0:11:50Three Dragons down in quick succession.
0:11:52 > 0:11:55And with the pressure building on the whole food entrepreneurs,
0:11:55 > 0:11:58Deborah Meaden steps up to the plate.
0:12:00 > 0:12:03I think it's a good business.
0:12:03 > 0:12:05You've got a great opportunity ahead of you,
0:12:05 > 0:12:08but you're also at your most risky phase of the business.
0:12:10 > 0:12:13You're going to be under massive pressure in your margins.
0:12:13 > 0:12:17It's that weird thing but you could quadruple your sales and actually
0:12:17 > 0:12:19end up making less money if you're not really careful.
0:12:20 > 0:12:22But I'm going to make you an offer.
0:12:24 > 0:12:26I'm going to offer you all of the money...
0:12:27 > 0:12:30..but I want 25% of the business.
0:12:32 > 0:12:33So, that's my offer.
0:12:36 > 0:12:39Deborah Meaden's offer of £75,000
0:12:39 > 0:12:41for 25% of the company
0:12:41 > 0:12:44demands five times more than the deal
0:12:44 > 0:12:46Julianne and Matthew had on the table.
0:12:47 > 0:12:50Tej Lalvani was previously undecided.
0:12:50 > 0:12:53Is he now poised to make a rival bid?
0:12:54 > 0:12:56You've learnt so much
0:12:56 > 0:12:59and you've adapted very quickly.
0:12:59 > 0:13:02I think you just need to be more confident and believe in yourself.
0:13:06 > 0:13:07I'm very tempted...
0:13:08 > 0:13:11But the things you've asked for
0:13:11 > 0:13:14from a Dragon are big time commitments.
0:13:14 > 0:13:17And for 5%, no Dragon's going to be agreeing to that.
0:13:22 > 0:13:24So, sadly, I won't be investing.
0:13:24 > 0:13:25I'm out.
0:13:26 > 0:13:29- Thank you.- Thank you.
0:13:29 > 0:13:31Um, can we talk to the wall?
0:13:31 > 0:13:35The entrepreneurs now have a tricky decision to make -
0:13:35 > 0:13:39to give away 25% of their company to Deborah Meaden,
0:13:39 > 0:13:42or to walk away with nothing.
0:13:42 > 0:13:45What do you think? What is your gut telling you?
0:13:45 > 0:13:47- I don't know.- Because your gut's normally right.
0:13:47 > 0:13:50I don't think, though, she'll go down to 20. Straight away.
0:13:50 > 0:13:52We can ask. OK.
0:13:57 > 0:13:59Deborah. My only...
0:13:59 > 0:14:01My only thing is, is...
0:14:03 > 0:14:06..my... I would like you to be at 20%.
0:14:08 > 0:14:10That was my sort of cut-off...
0:14:12 > 0:14:13..at 20%.
0:14:16 > 0:14:19For me, you were the Dragon I wanted.
0:14:21 > 0:14:23I wanted you from day one.
0:14:25 > 0:14:30Is there any possibility of a buy-back at all?
0:14:30 > 0:14:31Of 5%.
0:14:33 > 0:14:36Do you know, I feel a bit odd about buy-backs.
0:14:36 > 0:14:39It's kind of counterintuitive. Why would I want to buy back?
0:14:39 > 0:14:41I want to be moti... I want to be in this...
0:14:41 > 0:14:43I want to be in this together!
0:14:43 > 0:14:45I really want Deborah but I just...
0:14:47 > 0:14:53What if we hit the targets that we said we were going to hit in 2018?
0:14:53 > 0:14:552.5 million,
0:14:55 > 0:14:571.1 million gross profit
0:14:57 > 0:15:01and a net profit of 250,000?
0:15:12 > 0:15:13OK, um...
0:15:16 > 0:15:19..all of the money for 25%,
0:15:19 > 0:15:21but if you hit your targets in 2018,
0:15:21 > 0:15:23you can buy 5% of the shares back,
0:15:23 > 0:15:25so that they drop down to 20%.
0:15:29 > 0:15:32- So, if you're 100%... - I'm 100%...
0:15:32 > 0:15:34Oh, thank God for that! Wahey!
0:15:34 > 0:15:37Excellent. Could you look a bit happier, please?
0:15:37 > 0:15:39SHE LAUGHS
0:15:39 > 0:15:41- Well done.- Bye, guys.
0:15:41 > 0:15:46Not a nerve in sight, as Julianne and Matthew negotiate a deal.
0:15:46 > 0:15:50The duo become a trio, and leave the Den with the prospect
0:15:50 > 0:15:53of a healthy financial future.
0:15:53 > 0:15:54We did it!
0:15:58 > 0:16:00Don't cry, little one. We got it!
0:16:02 > 0:16:05I'm happy, I'm literally just a bit...
0:16:05 > 0:16:07I guess, overwhelmed with everything.
0:16:07 > 0:16:09We've always wanted Deborah.
0:16:09 > 0:16:12It means we're going to go global, we really are.
0:16:21 > 0:16:23Next into the Den is Nilesh Pandit,
0:16:23 > 0:16:26a former footballer from London.
0:16:26 > 0:16:30He's a confident entrepreneur who believes his winning strategy
0:16:30 > 0:16:32will reward him with a trophy investor.
0:16:34 > 0:16:37If the Dragons try to boss me around, then I don't believe it
0:16:37 > 0:16:40would work, because everything's airtight.
0:16:40 > 0:16:43It's a proven business. I've got the answers to all their questions,
0:16:43 > 0:16:46and I've gone through it all and there's absolutely no
0:16:46 > 0:16:48pitfalls with the business.
0:16:55 > 0:16:56Hello, Dragons. My name is Nilesh Pandit.
0:16:56 > 0:17:00I am the managing director and owner of Play Five A Side Ltd.
0:17:00 > 0:17:03Today, I am seeking £100,000
0:17:03 > 0:17:06in exchange for 12.5% of the business.
0:17:06 > 0:17:09Play Five A Side Ltd began back in 2009,
0:17:09 > 0:17:11where our focus was after-work football leagues.
0:17:11 > 0:17:14Since then, our product range has diversified to include
0:17:14 > 0:17:17children's parties, corporate sports tournaments,
0:17:17 > 0:17:19other sports events, like netball and so forth.
0:17:21 > 0:17:23I believe I've spotted a gap in the market.
0:17:23 > 0:17:26A few years ago, I was walking past an adventure playground.
0:17:26 > 0:17:29This playground had just received funding for a brand-new
0:17:29 > 0:17:32sports pitch. However, it did not get the funding
0:17:32 > 0:17:34for fencing and for lighting to go alongside it.
0:17:34 > 0:17:37So, I approached the playground and said,
0:17:37 > 0:17:38"Well, we can do that for you,
0:17:38 > 0:17:41"in exchange for commercial use in the evenings."
0:17:41 > 0:17:43So we would let it out to our corporate clients.
0:17:43 > 0:17:45The playground naturally bit my hand off.
0:17:45 > 0:17:49So, we have rolled this project out at five different locations,
0:17:49 > 0:17:51all with great success.
0:17:51 > 0:17:54Now, our key ambition is to partner with schools,
0:17:54 > 0:17:55so I'll give you an example.
0:17:55 > 0:17:59We would develop their surface for them, upgrade from their tarmac,
0:17:59 > 0:18:02again completely free of charge.
0:18:02 > 0:18:05In exchange for that, we would ask for a set number of rent-free weeks
0:18:05 > 0:18:07to recoup the investment.
0:18:07 > 0:18:10The school would then charge us a rental after this investment
0:18:10 > 0:18:14is complete, and then receive the revenue as a result of that.
0:18:14 > 0:18:15Looking at the figures,
0:18:15 > 0:18:19Play Five A Side Ltd, since our inception,
0:18:19 > 0:18:22has turned over in excess of £2 million.
0:18:22 > 0:18:24Our most recent net profit figure
0:18:24 > 0:18:26is £137,000.
0:18:29 > 0:18:30In addition to this,
0:18:30 > 0:18:32I believe this is an idea that can
0:18:32 > 0:18:34really change the shape of Britain.
0:18:34 > 0:18:36I look forward to your questions,
0:18:36 > 0:18:39and I would like you to come and have a look the surfaces.
0:18:39 > 0:18:43Hoping to score big in the Den is Nilesh Pandit,
0:18:43 > 0:18:46who's asking for £100,000
0:18:46 > 0:18:48in return for a 12.5% stake
0:18:48 > 0:18:51in his sports pitch business.
0:18:51 > 0:18:52If you score, you invest, come on.
0:18:54 > 0:18:56Oh, he missed it!
0:18:56 > 0:18:59- I'll have a go. - Show him how it's done.
0:18:59 > 0:19:02- Easy.- There you are, that's an investment.
0:19:02 > 0:19:04Touker Suleyman's on target,
0:19:04 > 0:19:08but will Nilesh score a goal with his investment opportunity?
0:19:08 > 0:19:11Jenny Campbell is the first Dragon to get the ball rolling.
0:19:14 > 0:19:16Tell me a little bit about you, what you've done before,
0:19:16 > 0:19:18how you came to this idea.
0:19:18 > 0:19:21So, back when I was about 15, 16 years old,
0:19:21 > 0:19:24I used to play on a semi-professional level.
0:19:24 > 0:19:27Then I had a bit of an ankle break, which led me to take time off,
0:19:27 > 0:19:30and I went into education. But it was whilst I was on my internship
0:19:30 > 0:19:33where I spotted the gap in this market.
0:19:33 > 0:19:35I cannot stand working 9-5:30.
0:19:37 > 0:19:40And I can't take direction, couldn't take direction from my bosses.
0:19:40 > 0:19:42I found myself very inactive.
0:19:42 > 0:19:45Ultimately, I spotted that teams within this company
0:19:45 > 0:19:47were playing five a side,
0:19:47 > 0:19:50so I decided to set up an internal work league for them.
0:19:50 > 0:19:51And the demand was crazy.
0:19:51 > 0:19:53Then I went back to university, completed my degree,
0:19:53 > 0:19:56and I set up the biggest university football league.
0:19:56 > 0:19:58But the pitch development idea is one that's untapped,
0:19:58 > 0:20:00and that's the idea that I want to get into.
0:20:01 > 0:20:04- Give me a sort of broad-brush costing of...- OK.
0:20:04 > 0:20:08..you see a playground and you go and pitch to the owner of that.
0:20:08 > 0:20:12Yeah, sure. So, a typical five a side venue, which could be, say,
0:20:12 > 0:20:13- 20 metres by 34...- Mm-hmm.
0:20:13 > 0:20:17..could cost anywhere between 17K to 30K.
0:20:17 > 0:20:20You said that the business has turned over £2 million so far.
0:20:20 > 0:20:23Mm-hmm. And in the last financial year, that was £137,000.
0:20:23 > 0:20:26No, that was the net profit. So in the most recent financial year...
0:20:26 > 0:20:29- Yes.- ..the turnover was £694,000.
0:20:29 > 0:20:32- So it's going great guns.- Yeah, it's going very well at the moment,
0:20:32 > 0:20:34I can't lie. It's very good at the moment.
0:20:37 > 0:20:41The healthy numbers have won Nilesh a fan in Jenny Campbell,
0:20:41 > 0:20:44but it's going to take more than talk of sizeable profits
0:20:44 > 0:20:46to impress Peter Jones.
0:20:48 > 0:20:51You're kind of basically a finance house.
0:20:51 > 0:20:54I wouldn't say so, but I'll let you continue.
0:20:55 > 0:20:57- You'll let me continue?- Yeah, sorry, I'm not...
0:20:57 > 0:21:00I don't finance... In a sense, we'd provide activities.
0:21:00 > 0:21:02So why don't you get them to pay for it?
0:21:02 > 0:21:04Because a lot of them, they don't have the funding.
0:21:04 > 0:21:06I'm not sure if you've read recently,
0:21:06 > 0:21:07but a lot of youth services, the sectors,
0:21:07 > 0:21:09- have actually had their fundings cut.- Yeah.- Yeah.
0:21:09 > 0:21:11There's a lot of people playing football,
0:21:11 > 0:21:14but you mentioned netball, but you wouldn't play netball on it.
0:21:14 > 0:21:16You could. I mean, if you look at the surfaces,
0:21:16 > 0:21:17and obviously the line's there...
0:21:17 > 0:21:19But they wouldn't play netball on Astroturf.
0:21:19 > 0:21:21- Absolutely they would. - No, they wouldn't.
0:21:21 > 0:21:24- Absolutely they would.- No, they wouldn't.- 100%, they would.
0:21:24 > 0:21:27Shall I tell you why they would want to play on Astroturf
0:21:27 > 0:21:29- as opposed to tarmac? - Yeah, I'd love to.
0:21:29 > 0:21:33Right, so, you know, women and men, OK, if they're playing on tarmac,
0:21:33 > 0:21:35it's a hard surface. Straightaway, it damages your knees.
0:21:35 > 0:21:38In addition, we're in quite a rainy country.
0:21:38 > 0:21:41If it rains, tarmac - slip and slide.
0:21:41 > 0:21:44I do a lot of work with Netball England.
0:21:44 > 0:21:47In fact, my daughter actually is in the drafting England squad,
0:21:47 > 0:21:50- and I go every single weekend to matches all over the country.- Mm.
0:21:50 > 0:21:54And I can tell you, they will not want to be playing on Astroturf.
0:21:54 > 0:21:56- OK, yeah.- So, having known that,
0:21:56 > 0:22:00you didn't even ask me, or even want to entertain why
0:22:00 > 0:22:02I might be so knowledgeable about netball.
0:22:05 > 0:22:06I can only apologise about that.
0:22:08 > 0:22:10Can you answer me the "can't take instruction" bit?
0:22:10 > 0:22:14I really want to get past that. So, if I'm suggesting ideas,
0:22:14 > 0:22:17and you clearly have a very strong opinion...
0:22:17 > 0:22:20- Yeah.- ..where do you go with that?
0:22:20 > 0:22:22You have achieved far more than I have,
0:22:22 > 0:22:25so I would definitely respect and take the opinions on board.
0:22:25 > 0:22:28And what would you do with the opinion, if you didn't still believe
0:22:28 > 0:22:30- that I was right?- I think we would just have a heart to heart,
0:22:30 > 0:22:32like we are now, and just say,
0:22:32 > 0:22:34"Well, I don't believe it will work because of X, Y, and Z."
0:22:34 > 0:22:36You can then come back and say, "Well, actually,
0:22:36 > 0:22:38"it should work because of X, Y, and Z."
0:22:38 > 0:22:41So it's the respect level again, so I'll always listen to my staff.
0:22:41 > 0:22:43OK. I like this Nilesh.
0:22:43 > 0:22:45Oh, thank you very much. Sorry about the previous Nilesh.
0:22:45 > 0:22:48- He's gone now, he's left. - Great, that's great.
0:22:48 > 0:22:52- Good answer. - Because this Nilesh is good.- OK.
0:22:52 > 0:22:55It's a strong defence from Nilesh,
0:22:55 > 0:22:58who survives a grilling from Peter Jones
0:22:58 > 0:23:00to keep the Dragon firmly onside.
0:23:01 > 0:23:04But next on the attack is Deborah Meaden,
0:23:04 > 0:23:07demanding more detail on those numbers.
0:23:08 > 0:23:11What are your retained profits?
0:23:11 > 0:23:14So, obviously last year was £137,000.
0:23:14 > 0:23:17Prior to that, it was £122,000.
0:23:17 > 0:23:20- Yep.- And the year before that was £157,000.
0:23:20 > 0:23:23OK, so I'm trying to square something off here.
0:23:23 > 0:23:24Let me understand.
0:23:24 > 0:23:27Your capital investment is about £30,000.
0:23:27 > 0:23:29- Yeah, right. - You've got five pitches,
0:23:29 > 0:23:32so you've spent £150,000 worth of cash.
0:23:32 > 0:23:36- Yeah, mm-hmm.- You have made £350,000 worth of...
0:23:36 > 0:23:39- 400. - £400,000 worth of profit.
0:23:39 > 0:23:41- Yeah. Uh-huh. - Where's the rest of the cash?
0:23:43 > 0:23:45So, the cash...
0:23:45 > 0:23:47I'm probably not understanding the question too well.
0:23:48 > 0:23:53So, you've generated nearly £400,000 worth of profit.
0:23:53 > 0:23:57- Yeah.- You have reinvested about £150,000 into the business.
0:23:57 > 0:23:59- Yeah.- Yeah? Where's the rest of the money?
0:23:59 > 0:24:02So what you're saying, what is the difference between 260 and 400?
0:24:02 > 0:24:06- Yeah.- OK, so, basically there's a lot of ongoing maintenance works.
0:24:06 > 0:24:09- No, well, that's in your profit and loss.- Yeah, OK.
0:24:09 > 0:24:11Unless you're not showing it in your profit and loss.
0:24:11 > 0:24:13- No, no, it should all be shown, but...- In tax?
0:24:13 > 0:24:16Yeah, the tax is all paid up, so...
0:24:16 > 0:24:19No, I meant out of the 400 profit, you must have paid tax,
0:24:19 > 0:24:22- so that comes off the 400.- Yeah. - Is that pre- or post-tax?
0:24:22 > 0:24:24No, that's post-tax. Everything's post-tax.
0:24:24 > 0:24:26- That's post-tax profit? - Yes, this is the bottom line.
0:24:28 > 0:24:30I get this little switch in me,
0:24:30 > 0:24:32and it says something's not working out here.
0:24:32 > 0:24:33OK.
0:24:34 > 0:24:36Yeah, I'm going to be honest with you, I don't have,
0:24:36 > 0:24:39off the top of my head, an answer to that question.
0:24:39 > 0:24:41- It's a big number. I'm not going to let...- Yeah.
0:24:41 > 0:24:43You can't just stand there and say,
0:24:43 > 0:24:46"Oh, actually, I don't know where that £250,000 is."
0:24:49 > 0:24:52- I don't understand. I don't get it. - OK, well, um...
0:24:52 > 0:24:55All right, so a few years back,
0:24:55 > 0:24:58there was an HMRC penalty
0:24:58 > 0:25:00of around 200K...
0:25:00 > 0:25:02GASP
0:25:04 > 0:25:07- ..which has now been paid off. - OK, what was that about?
0:25:07 > 0:25:10That was ultimately all about literally not
0:25:10 > 0:25:13- showing the appropriate...- Oh. - ..numbers within...
0:25:15 > 0:25:18So, to have a penalty of £200,000,
0:25:18 > 0:25:21how much did they say you weren't declaring?
0:25:21 > 0:25:23Again, I don't know the numbers.
0:25:23 > 0:25:27- Sorry, £200,000 tax penalty... - Mm-hmm.
0:25:27 > 0:25:29..and you're telling me you don't know the numbers?
0:25:31 > 0:25:34I-I... I'm exasperated.
0:25:34 > 0:25:37- Are you hearing these words? - Yeah, yeah, I agree, yeah.- OK.
0:25:37 > 0:25:40I think I know... No, I know where I am.
0:25:40 > 0:25:43- OK.- Because if I gave you my money...- Mm-hm?
0:25:43 > 0:25:45..I would be absolutely terrified
0:25:45 > 0:25:49that you would fail to remember what you'd done with it.
0:25:49 > 0:25:52But people do learn from their mistakes, don't you think?
0:25:52 > 0:25:56- That much...- They become stronger... OK.- That much money.
0:25:56 > 0:25:59It is a lot of money, but has that happened again since then?
0:25:59 > 0:26:01I have no idea.
0:26:01 > 0:26:05I'm really sorry about this, but that's done it for me. I'm out.
0:26:07 > 0:26:09Disaster for Nilesh,
0:26:09 > 0:26:13as his delay in revealing the reason his books don't balance leads to
0:26:13 > 0:26:16a swift exit from Deborah Meaden.
0:26:18 > 0:26:21Will Tej Lalvani be any more understanding?
0:26:22 > 0:26:27What concerns me is you mention that you've learnt from your mistakes.
0:26:28 > 0:26:31And when Deborah was questioning the gap...
0:26:33 > 0:26:36..in the accounts, you should have straightaway brought it up, then.
0:26:36 > 0:26:39- Yeah.- But you acted like you had no idea what she was talking about.
0:26:39 > 0:26:41- She literally had to drag it out of you...- Yeah...
0:26:41 > 0:26:43..and if you said you've learnt from the mistakes,
0:26:43 > 0:26:46that should have been your opportunity to straightaway
0:26:46 > 0:26:47explain what the gap was.
0:26:49 > 0:26:51I'm afraid I'm out.
0:26:51 > 0:26:52OK.
0:26:54 > 0:26:56We all make mistakes.
0:26:56 > 0:26:59- Of course.- But there are mistakes, and there are mistakes.
0:26:59 > 0:27:01I agree.
0:27:01 > 0:27:05However, you were quite open with your figures.
0:27:05 > 0:27:08The mistake was made, were made, a long time ago, to be fair.
0:27:08 > 0:27:11Fine. Fine, look, the question we're at now is,
0:27:11 > 0:27:14am I going to part with my money with you?
0:27:16 > 0:27:17The answer is...
0:27:19 > 0:27:20..no.
0:27:22 > 0:27:24So, I've got to say, I'm not going to invest in you and I'm out.
0:27:26 > 0:27:29OK. Thank you.
0:27:29 > 0:27:32I think it is very hard to sort of
0:27:32 > 0:27:36decide when to pull your skeletons out of the cupboard or not,
0:27:36 > 0:27:38because you probably thought, "Well, if I go in and say,
0:27:38 > 0:27:41"I had this lesson, then let's move on and talk about the future,
0:27:41 > 0:27:44- "would that kill your pitch from the beginning?"- Yeah.
0:27:44 > 0:27:46But there is a moment in time when you, you know,
0:27:46 > 0:27:48need to be honest with people.
0:27:48 > 0:27:50So just learn that lesson.
0:27:50 > 0:27:52You are a very credible young man.
0:27:52 > 0:27:54- Thank you.- And you are running a successful business,
0:27:54 > 0:27:56- and hopefully paying all your tax now.- Yeah, absolutely!
0:27:56 > 0:27:59So learn from that.
0:27:59 > 0:28:00I'm out.
0:28:02 > 0:28:03Four Dragons out,
0:28:03 > 0:28:07and it's beginning to look like it's all over for Nilesh.
0:28:07 > 0:28:12Peter Jones was previously won over by the entrepreneur's change
0:28:12 > 0:28:14of attitude. Will he be the one
0:28:14 > 0:28:17to save this rapidly sinking pitch?
0:28:20 > 0:28:23We didn't start off on the right foot, and I think that in business,
0:28:23 > 0:28:26- people buy people first.- I agree. - And I think it's really, really,
0:28:26 > 0:28:29- really important that you embrace that today.- Yeah.
0:28:29 > 0:28:32And I'm going to make it slightly worse for you.
0:28:32 > 0:28:34I would have invested today.
0:28:36 > 0:28:38Because I really like the idea,
0:28:38 > 0:28:41I think it's very unique and it's good.
0:28:41 > 0:28:43Um...
0:28:44 > 0:28:46Is there anything I can do to change your mind?
0:28:50 > 0:28:52If you had just been really straight,
0:28:52 > 0:28:54that would have been OK with me,
0:28:54 > 0:28:56actually, even though it might not have been with others.
0:28:56 > 0:28:58OK.
0:28:58 > 0:29:01- So I'm going to say that I'm out. - Thank you.
0:29:03 > 0:29:07Peter Jones shows the sports pitch business the red card,
0:29:07 > 0:29:09and the driven entrepreneur exits
0:29:09 > 0:29:12the Den without the £100,000 investment
0:29:12 > 0:29:14he was so confident of securing.
0:29:19 > 0:29:21He had a moment to just tell the truth,
0:29:21 > 0:29:24and I just had to work too hard. I completely agree with you, Tej.
0:29:24 > 0:29:26- I had to work too hard to get it out.- Everybody makes mistakes.
0:29:26 > 0:29:29Unfortunately, I've been penalised for a mistake almost
0:29:29 > 0:29:32a million years ago, if you want to think of it in business terms.
0:29:32 > 0:29:35I guess they failed to realise that I lost everything,
0:29:35 > 0:29:36and I still came back from it.
0:29:45 > 0:29:48With £75,000 invested already,
0:29:50 > 0:29:52if the total is set to rise...
0:29:52 > 0:29:55Unless I'm missing something, I think this is barking mad.
0:29:55 > 0:29:58..the remaining entrepreneurs will need to master the basics...
0:29:58 > 0:30:00It is a terrible block, Debbie.
0:30:02 > 0:30:03Please don't call me Debbie.
0:30:03 > 0:30:06..or risk losing everything.
0:30:06 > 0:30:09In a year's time, you could be left with diddly squat.
0:30:09 > 0:30:11That's a technical term for nothing.
0:30:15 > 0:30:17If perseverance was a guarantee for success,
0:30:17 > 0:30:20our next entrepreneur would already be a millionaire.
0:30:23 > 0:30:28Jason Hamlin first took his invention to market 18 years ago,
0:30:28 > 0:30:32and has been trying to make it an industry frontrunner ever since.
0:30:35 > 0:30:39It's got huge potential. The product sells itself.
0:30:39 > 0:30:42So I'm hoping that the Dragons look at this and go,
0:30:42 > 0:30:43"Yes, we could sell this."
0:30:43 > 0:30:45And it, potentially, could be sold all over the world.
0:30:45 > 0:30:48Jason, you must be mad!
0:30:49 > 0:30:51Oh, well, here goes nothing.
0:30:59 > 0:31:02Hello, Dragons. My name's Jason Hamlin.
0:31:02 > 0:31:04I've got a company called Bikeaway,
0:31:04 > 0:31:07and I'm looking for a £600,000 investment
0:31:07 > 0:31:09for a 50% share in my company.
0:31:09 > 0:31:13Bikeaway sells vertical bike lockers and bike stands.
0:31:13 > 0:31:16Now, what's happened in recent years in cycling,
0:31:16 > 0:31:19there has been a tremendous increase
0:31:19 > 0:31:21in the value of bikes being sold.
0:31:21 > 0:31:25And this increase in quality of bikes has led to an increase
0:31:25 > 0:31:26in bike theft. Now,
0:31:26 > 0:31:30what the police have done to combat this is they have gone to
0:31:30 > 0:31:32an organisation called Sold Secure.
0:31:32 > 0:31:35And Sold Secure do an attack standard,
0:31:35 > 0:31:37so they literally break into something
0:31:37 > 0:31:38and they give it a ranking.
0:31:38 > 0:31:41They've got a bronze, silver, and gold,
0:31:41 > 0:31:44and gold is the highest accolade for cycle security.
0:31:44 > 0:31:47And this locker here has got gold.
0:31:47 > 0:31:49It's the only one of its type.
0:31:49 > 0:31:52Now, big organisations like hospitals,
0:31:52 > 0:31:53train stations,
0:31:53 > 0:31:56housing associations, they all want secure cycle parking,
0:31:56 > 0:31:59because customers are asking for it.
0:31:59 > 0:32:01It's a wonderful product for you lot to view
0:32:01 > 0:32:04or get involved with if you'd like to and, please,
0:32:04 > 0:32:07I'd like to answer any questions that you may have.
0:32:08 > 0:32:12A passionate pitch from security-savvy Jason Hamlin,
0:32:12 > 0:32:17who's hoping to ride away with a massive £600,000
0:32:17 > 0:32:20in return for 50% of his bike locker business.
0:32:21 > 0:32:25Jason thinks his invention has what it takes to become a must-have
0:32:25 > 0:32:29for cyclists, but does Peter Jones share his vision?
0:32:30 > 0:32:35I don't understand. It just looks like an enclosure.
0:32:35 > 0:32:38That is just, surely, like a lockable small shed for a bike,
0:32:38 > 0:32:40- isn't it? - It's the design of the locker.
0:32:40 > 0:32:42This is a real wolf in sheep's clothing.
0:32:42 > 0:32:44- So show me how it works.- Basically,
0:32:44 > 0:32:47there's bolt section behind here with a cut-out,
0:32:47 > 0:32:51and this basically pulls into the bolt section.
0:32:51 > 0:32:53OK, so when you close the door,
0:32:53 > 0:32:56this plate grabs the side panel,
0:32:56 > 0:32:59and is held in place with a padlock.
0:32:59 > 0:33:01This has got a patent on it as well.
0:33:01 > 0:33:05It is very simple, Peter, I totally agree, but that's the beauty of it.
0:33:05 > 0:33:09When you lock it, you cannot open that door now.
0:33:09 > 0:33:10It is totally jimmy-proof,
0:33:10 > 0:33:14because the way that's caught into the side panel,
0:33:14 > 0:33:16if you try and go in there with a crowbar...
0:33:16 > 0:33:18Have you got a crowbar?
0:33:21 > 0:33:24I don't! If you decided to invest, it's a very important point,
0:33:24 > 0:33:27because the whole point of this is security.
0:33:27 > 0:33:29So I've got to give you £600,000 to see if I can get in it?
0:33:31 > 0:33:33No, I'm saying you honestly can't.
0:33:33 > 0:33:36If you got into it with ten minutes, you can have your money back again.
0:33:38 > 0:33:42A patented product with some pretty impressive security claims
0:33:42 > 0:33:45is certainly giving Peter Jones plenty to ponder.
0:33:46 > 0:33:50Now, Touker Suleyman wants to lock down the numbers.
0:33:52 > 0:33:54You probably know that I'm in the cycling world.
0:33:54 > 0:33:58- Yes.- And I agree with you, people are spending 2,000
0:33:58 > 0:34:005,000, 20,000 on bikes,
0:34:00 > 0:34:02and security is a risk.
0:34:04 > 0:34:06So, how many have you sold?
0:34:06 > 0:34:08I've sold over 10,000 lockers
0:34:08 > 0:34:11throughout UK and Ireland since I've started.
0:34:12 > 0:34:14Jason, can I ask you a question?
0:34:14 > 0:34:16You've asked for £600,000.
0:34:16 > 0:34:18What do you need the money for?
0:34:19 > 0:34:21At this present time,
0:34:21 > 0:34:24I don't need the money.
0:34:24 > 0:34:26I need help.
0:34:27 > 0:34:30But we do need the money in the future.
0:34:31 > 0:34:33But why do you need £600,000 today
0:34:33 > 0:34:35if you haven't got a plan for it?
0:34:36 > 0:34:40I need the money to build the locker in the future.
0:34:40 > 0:34:42Why does it cost £600,000?
0:34:42 > 0:34:44To have a factory to build this locker.
0:34:44 > 0:34:46You want £600,000 to build a factory?
0:34:47 > 0:34:49Yes, but not at day one.
0:34:50 > 0:34:53Tej Lalvani struggles to get to
0:34:53 > 0:34:56the bottom of how and when a £600,000 investment
0:34:56 > 0:34:58would be spent.
0:34:59 > 0:35:02The Dragon who made her cash in cashpoints
0:35:02 > 0:35:05wants to get to grips with what's propping up
0:35:05 > 0:35:08this company's £1.2 million valuation.
0:35:09 > 0:35:13- So, last year, you did what in turnover?- I turned over £300,000.
0:35:13 > 0:35:15And your gross profit was what?
0:35:15 > 0:35:18Um, 154.
0:35:18 > 0:35:19And your net profit?
0:35:19 > 0:35:23Uh, I...well, I did a lot of development. It was 24,000.
0:35:23 > 0:35:25I know it looks bad. I do understand that.
0:35:25 > 0:35:27So...well, I'm glad you've said that!
0:35:29 > 0:35:33So, how are you valuing this at £1.2 million now?
0:35:33 > 0:35:36I've explored loads of markets, as I say, selling 10,000 altogether,
0:35:36 > 0:35:39and I really hope you don't throw your toys out of the pram before
0:35:39 > 0:35:41I explain why I've got to where I am.
0:35:43 > 0:35:46I'm valuing the business at £600,000.
0:35:46 > 0:35:50I am putting that into a pot, if you want,
0:35:50 > 0:35:53and you're putting £600,000 in,
0:35:53 > 0:35:56and we're going to own that pot 50-50.
0:35:56 > 0:36:00Unless I'm missing something, I think this is barking mad.
0:36:00 > 0:36:03You're putting in 600,000,
0:36:03 > 0:36:06I'm putting in 600,000, so, therefore,
0:36:06 > 0:36:08I'm valuing my company at 600...
0:36:08 > 0:36:10I am making sense, aren't I?
0:36:10 > 0:36:15- No, Jason.- No, actually, Jason, you're not.- No, you're not.
0:36:15 > 0:36:18Bemusement in the Den, as Jason demonstrates a lack
0:36:18 > 0:36:22of grasp on how to calculate his company's valuation.
0:36:23 > 0:36:25But luckily, Deborah Meaden's on hand to give him
0:36:25 > 0:36:27a masterclass in the numbers.
0:36:29 > 0:36:34I think you genuinely think you valued your business at £600,000.
0:36:34 > 0:36:37- Am I right?- 500, because I'm putting 100 grand's worth
0:36:37 > 0:36:40- of assets in.- Right, so, could... Please concentrate for a minute.
0:36:40 > 0:36:44- Yeah.- I am paying £600,000 for half of your business.
0:36:44 > 0:36:49- Yeah.- In saying that half of your business is worth £600,000,
0:36:49 > 0:36:53all of your business is worth £1.2 million.
0:36:53 > 0:36:56So, Deborah, if I sold you 100% of my company,
0:36:56 > 0:36:58how much would it cost you?
0:36:58 > 0:36:591.2 million.
0:36:59 > 0:37:01OK, so you now own my company,
0:37:01 > 0:37:04and it would have 1.2 million in the bank account.
0:37:04 > 0:37:06Yes! My 1.2 million...
0:37:06 > 0:37:08- Yeah, in your bank account, which you own.- Jason! That is all...
0:37:08 > 0:37:11- Take the 1.2 million out, you've got the company.- Jason, Jason, Jason.
0:37:11 > 0:37:14Stop looking at somebody else because you think they might make
0:37:14 > 0:37:16your life easier. Concentrate on me,
0:37:16 > 0:37:19because I promise you, you're not talking sense.
0:37:19 > 0:37:21Half of your business is worth £600,000,
0:37:21 > 0:37:24all of your business is worth £1.2 million.
0:37:24 > 0:37:27You need to get that into your head, that's it.
0:37:27 > 0:37:30Saying you don't understand that is a little bit of a block.
0:37:30 > 0:37:32It is a terrible block, Debbie.
0:37:34 > 0:37:36Jason, can I just say that you just called Deborah "Debbie"?
0:37:36 > 0:37:40- Did he?!- Sorry, Deborah. - Sorry, Peter.- That's all right.
0:37:40 > 0:37:43I haven't heard that for years, it's quite funny.
0:37:43 > 0:37:44Please don't call me Debbie.
0:37:47 > 0:37:50Jason has won the good humour of Deborah Meaden,
0:37:50 > 0:37:53but his refusal to recognise that his numbers don't add up
0:37:53 > 0:37:55is no laughing matter.
0:37:55 > 0:37:58And Jenny Campbell's ready to hand the task over
0:37:58 > 0:38:01to an altogether different group of experts.
0:38:02 > 0:38:03Go down the pub tonight,
0:38:03 > 0:38:06and have this debate about 600,000 and 1.2 million,
0:38:06 > 0:38:09and I'll take a bet on where that will land,
0:38:09 > 0:38:12because I can't get past this valuation which is ridiculous.
0:38:12 > 0:38:15- Jenny, I'd just like to say... - It would take me 50 years to repay
0:38:15 > 0:38:16my investment on current trading...
0:38:16 > 0:38:18- Oh!- ..and I've no idea when I'd see my money again.
0:38:18 > 0:38:21- Jenny, you'll have so many sales...- There's absolutely no
0:38:21 > 0:38:23chance I'm sending you £600,000
0:38:23 > 0:38:27where you then own 50% of my £600,000 on day one,
0:38:27 > 0:38:30- and I might get it back sometime never, so...- Oh!
0:38:30 > 0:38:32..bless you, I'm out.
0:38:35 > 0:38:38New Dragon Jenny Campbell shows her bite,
0:38:38 > 0:38:42and applies the brakes to Jason's investment dreams.
0:38:42 > 0:38:46But Peter Jones is pondering whether his business proposition is
0:38:46 > 0:38:48a revolution or a risk.
0:38:49 > 0:38:53You might have created the best product that's out there
0:38:53 > 0:38:56at the moment, but you don't know what to do with it.
0:38:56 > 0:38:58- Is that fair?- Absolutely nailed it on the head, Peter.
0:38:58 > 0:39:01Thank you. The problem is that I needed you to come in
0:39:01 > 0:39:02at a much lower level,
0:39:02 > 0:39:05and because you haven't, sadly, I'm going to say
0:39:05 > 0:39:08- that I'm out. - Oh, that's a real shame.
0:39:09 > 0:39:12You can't tell me today that you're going to use 50 for that,
0:39:12 > 0:39:14100 for this, 20 for that,
0:39:14 > 0:39:18and I don't feel comfortable parting way with so much money and you don't
0:39:18 > 0:39:21know what the money is really going to be used for.
0:39:21 > 0:39:24So, for that reason, I'm out.
0:39:26 > 0:39:28Actually, I think it's really...
0:39:28 > 0:39:30It's neat. The truth of the matter is,
0:39:30 > 0:39:34I am worried at the amount of work that you need...
0:39:34 > 0:39:36- That is the problem. - ..in the business,
0:39:36 > 0:39:39so I'm afraid for that reason, we'll forget the valuation,
0:39:39 > 0:39:42or would you like to go over the valuation just one more time?
0:39:42 > 0:39:45- Or shall we leave it there? - Oh, please!
0:39:45 > 0:39:46I say...
0:39:46 > 0:39:49I say we leave it there!
0:39:49 > 0:39:51THEY LAUGH
0:39:51 > 0:39:54All right, but anyway, Jason, lovely to meet you but I really,
0:39:54 > 0:39:56I won't be investing, so I'm out.
0:39:58 > 0:40:02Deborah Meaden becomes the fourth Dragon to exit the deal.
0:40:03 > 0:40:05Only Touker Suleyman remains,
0:40:05 > 0:40:08and with business interests in a cycling website,
0:40:08 > 0:40:11will he choose to go along for the ride?
0:40:13 > 0:40:16Touker, can I just have one word before you speak?
0:40:16 > 0:40:19- One word?- Well, one sentence. - You've got ten seconds.
0:40:19 > 0:40:22OK. If you invested in me, Touker, your money is safe.
0:40:22 > 0:40:26You own half the business, and if we don't do the sales,
0:40:26 > 0:40:29which I know you can do, you can have all your money back,
0:40:29 > 0:40:30and we'll go our separate ways.
0:40:32 > 0:40:36You seem like a very knowledgeable person in this field.
0:40:38 > 0:40:42Very passionate. If you'd come in here and said,
0:40:42 > 0:40:45"Touker, I want £50,000, and there's 25, 30%",
0:40:45 > 0:40:47because I'm in this field, I'd say,
0:40:47 > 0:40:49"You know something? There's a punt."
0:40:52 > 0:40:56But to come here and say you want £600,000,
0:40:56 > 0:41:00I'm very sorry, I'm out, but I wish you all the best.
0:41:02 > 0:41:06Jason's commitment to his product won the praise of Touker Suleyman,
0:41:06 > 0:41:10but he couldn't convince the Dragons of his company's worth,
0:41:10 > 0:41:11and he leaves the Den empty-handed.
0:41:15 > 0:41:19- Wow, £600,000.- Bless him, he could have been here all day,
0:41:19 > 0:41:20and we would have gone in circles.
0:41:20 > 0:41:24They were fair, they were fair. I knew I was asking a lot.
0:41:24 > 0:41:27The stumbling block for them was I valued my company,
0:41:27 > 0:41:29I believed it was 600,000.
0:41:29 > 0:41:32But I'm obviously wrong.
0:41:39 > 0:41:42Now, everybody loves a bargain, and our final entrepreneurs
0:41:42 > 0:41:45have developed a website that taps right into that.
0:41:45 > 0:41:50Best friends Ben Corrigan and Jonny Plein have big dreams
0:41:50 > 0:41:52for their voucher codes business,
0:41:52 > 0:41:55and they're looking for a Dragon to help make them a reality.
0:42:03 > 0:42:05When Ben first came to me with the idea for our business,
0:42:05 > 0:42:07it wasn't so much a "should we do this?",
0:42:07 > 0:42:09it was like, "Great, when are we getting started?"
0:42:11 > 0:42:13We'd be happy, really, with any of the Dragons,
0:42:13 > 0:42:16but certainly Peter Jones would be our number one.
0:42:16 > 0:42:19But with the new Dragons also keen to spend,
0:42:19 > 0:42:22will the Den prove to be a gateway to success?
0:42:24 > 0:42:28Hello, Dragons, thank you for your time. I'm Ben, this is Johnny,
0:42:28 > 0:42:31and we're really excited to show you our new online shopping tool,
0:42:31 > 0:42:32Pouch.
0:42:32 > 0:42:35Last year, in the UK, 840 million people
0:42:35 > 0:42:39searched for voucher codes, and it's really easy to understand why,
0:42:39 > 0:42:40because we've all been there before,
0:42:40 > 0:42:43at the checkout page, about to enter our card details,
0:42:43 > 0:42:46when we see that box that says, "Do you have a voucher code?"
0:42:46 > 0:42:47So, what do you do? If you're anything like us,
0:42:47 > 0:42:49you end up leaving the site you're on,
0:42:49 > 0:42:51going on some wild goose chase throughout the internet,
0:42:51 > 0:42:54trying to find a voucher code that may or may not even exist.
0:42:54 > 0:42:56So, we created a browser extension
0:42:56 > 0:42:58that automatically sources all the best
0:42:58 > 0:43:01available and valid voucher codes, and presents them to you
0:43:01 > 0:43:03at the checkout page of the website you're on.
0:43:03 > 0:43:06And here's how it works. You'll immediately see that our icon
0:43:06 > 0:43:08sits in the top right-hand corner of your screen,
0:43:08 > 0:43:11and at the checkout page, simply click on our icon.
0:43:11 > 0:43:13A drop-down list of all the available offers will appear,
0:43:13 > 0:43:15select the offer you wish to redeem,
0:43:15 > 0:43:18and paste the code into the voucher code box to get your discount.
0:43:18 > 0:43:21It's easy to see why online shoppers love a tool like Pouch.
0:43:21 > 0:43:24But we're actually solving a very serious problem for retailers
0:43:24 > 0:43:27as well, because they spend millions of pounds every year driving traffic
0:43:27 > 0:43:29to their website, only for 75%
0:43:29 > 0:43:33of all online shopping baskets to be abandoned.
0:43:33 > 0:43:36And leaving to search for a voucher code is a major cause of this.
0:43:36 > 0:43:39And that's why, in only a few months, we've already built
0:43:39 > 0:43:41commercial relationships with 2,500 UK retailers.
0:43:41 > 0:43:44In exchange for 15% of our business,
0:43:44 > 0:43:46we're seeking £75,000 of investment.
0:43:46 > 0:43:50Thank you for listening, and we look forward to your questions.
0:43:50 > 0:43:54A website that puts voucher codes directly into your online shopping
0:43:54 > 0:43:59basket is the offering from school chums Ben Corrigan and Jonny Plein,
0:43:59 > 0:44:04who are looking for £75,000 in return for 15% of the company.
0:44:06 > 0:44:10Deborah Meaden is keen to find out how this money-saving venture could
0:44:10 > 0:44:12line the pockets of an investor.
0:44:14 > 0:44:16So, how do you make your money?
0:44:16 > 0:44:19So, it's quite simple. We get paid a commission from the retailer for
0:44:19 > 0:44:21every sale that we incentivise,
0:44:21 > 0:44:23so when a user uses one of our voucher codes,
0:44:23 > 0:44:26and then goes on to make the successful purchase,
0:44:26 > 0:44:27we're paid a commission from that.
0:44:27 > 0:44:30- Just so I completely understand how it works...- Yeah, sure.
0:44:30 > 0:44:32..so, when I'm sitting there,
0:44:32 > 0:44:35am I automatically going to be offered Pouch,
0:44:35 > 0:44:37or do I have to have a relationship with Pouch,
0:44:37 > 0:44:41so that when I go to click my buy button, it says,
0:44:41 > 0:44:43- "Do you know about these codes?" - Exactly, so you need to have
0:44:43 > 0:44:45- downloaded Pouch first from our website.- Right.
0:44:45 > 0:44:48Once you've downloaded Pouch, when you're on a checkout page,
0:44:48 > 0:44:51we notify you with that small box that Ben demonstrated.
0:44:51 > 0:44:54It means there's less shopping cart abandonment for retailers,
0:44:54 > 0:44:56and shoppers that want to have voucher codes have them there.
0:44:58 > 0:45:00- I do totally, totally recognise the problem.- Mm-hmm.
0:45:00 > 0:45:03I will go on three websites looking for a pair of shoes,
0:45:03 > 0:45:07and leave the basket open on two and then go looking for voucher codes.
0:45:07 > 0:45:10You said that 75% of shopping baskets are abandoned,
0:45:10 > 0:45:15and I thought, "Wow, that's real, is it? That 75% never go to checkout?"
0:45:15 > 0:45:18Yeah. So, 75% is an industry average, but some are much higher.
0:45:18 > 0:45:20Travel, for instance is 85% abandonment.
0:45:20 > 0:45:23So, it's clear that this is a problem
0:45:23 > 0:45:24that retailers are paying for.
0:45:26 > 0:45:29Ben and Jonny have all the answers so far,
0:45:29 > 0:45:32which has impressed multimillionaire bargain hunter Jenny Campbell.
0:45:34 > 0:45:38But the Den's technology mogul thinks he's heard it all before.
0:45:39 > 0:45:41How long did it take to develop it?
0:45:42 > 0:45:44- Eight months. - Because this isn't new.
0:45:46 > 0:45:50The way that you've pitched it, I kind of got the feeling that,
0:45:50 > 0:45:52actually, this isn't out at the moment.
0:45:52 > 0:45:54We're the only people in the UK doing this.
0:45:54 > 0:45:57There are a couple of people in the US doing it very successfully,
0:45:57 > 0:46:00but we're the only ones in the UK.
0:46:00 > 0:46:02Can you tell me about the size of those competitors?
0:46:02 > 0:46:05Yeah, so, there's really two,
0:46:05 > 0:46:07maybe three people doing it.
0:46:07 > 0:46:10Two that we take seriously, one that's doing very well.
0:46:10 > 0:46:12They have 4.5 million users.
0:46:13 > 0:46:16And they are estimating that 15 billion
0:46:16 > 0:46:19will be transacted through their platform this year.
0:46:21 > 0:46:24News that similar outfits in the US
0:46:24 > 0:46:27are bringing in the big bucks is music to the ears
0:46:27 > 0:46:29of new Dragon Tej Lalvani.
0:46:30 > 0:46:35Now Peter Jones is curious to find out if Pouch's business potential
0:46:35 > 0:46:37is reflected in its owners' pay packets.
0:46:41 > 0:46:43What salaries are you taking?
0:46:43 > 0:46:46I take £500 a month, Ben takes £800 a month.
0:46:47 > 0:46:51It's not feasible for people as skilled as you,
0:46:51 > 0:46:55and as this business grows, not to be able to afford a sandwich a day.
0:46:55 > 0:46:57Sure.
0:46:57 > 0:46:58And on £500 a month...
0:46:58 > 0:47:01- We're really cool, we live with our parents, so...- Yeah.
0:47:01 > 0:47:04Yeah, and do you know what? That is really cool. But my point is,
0:47:04 > 0:47:07you need to think now about how you are going to raise more money,
0:47:07 > 0:47:09and then think about, actually, at the end of the day,
0:47:09 > 0:47:11what's going to be left in your pouch?
0:47:11 > 0:47:14Because, in a year's time, you could be left with diddly squat.
0:47:16 > 0:47:18That's a technical term for nothing.
0:47:20 > 0:47:25Tech giant Peter Jones provides a reality check on the entrepreneurs'
0:47:25 > 0:47:26ambitious plans.
0:47:27 > 0:47:30And online fashion magnate Touker Suleyman
0:47:30 > 0:47:34wants to question what this app means for his big brand names.
0:47:35 > 0:47:38- We are in a retail world...- Mm.
0:47:38 > 0:47:41..that online is full of discounting.
0:47:43 > 0:47:46If more and more retailers are discounting,
0:47:46 > 0:47:48because it's tough out there,
0:47:48 > 0:47:51consumers will get their discount directly from the retailer,
0:47:51 > 0:47:54not from Push, or whatever you call yourselves.
0:47:54 > 0:47:58- Pouch, yeah.- So, therefore, you know, you're fighting retailers.
0:48:01 > 0:48:03- I mean, I would disagree, because... - You would disagree?
0:48:03 > 0:48:05I would disagree.
0:48:06 > 0:48:09Well, firstly, we haven't... We've done quite well so far in terms
0:48:09 > 0:48:12of relationships, so 2,500 retailers
0:48:12 > 0:48:14get the concept and approve it.
0:48:15 > 0:48:16Because we sit in the browser,
0:48:16 > 0:48:18we have an incredible amount
0:48:18 > 0:48:21of very useful data about a user's propensity to purchase
0:48:21 > 0:48:22and their buying habits.
0:48:22 > 0:48:25So eventually we want to be able to speak to a retailer and go,
0:48:25 > 0:48:28"This user is a 45-year-old woman from Birmingham
0:48:28 > 0:48:31"who has bought three at your competitors in the last week.
0:48:31 > 0:48:33"We should give her a 15% discount" - in real-time.
0:48:33 > 0:48:35That is the end goal, but in order to get there...
0:48:35 > 0:48:36That's been done already.
0:48:36 > 0:48:38No, it hasn't. They don't sit in the browsers.
0:48:38 > 0:48:41And they're not embedded on enough websites.
0:48:41 > 0:48:43We're embedded on every single website.
0:48:44 > 0:48:46Touker Suleyman's concern
0:48:46 > 0:48:49about the appeal of the website to the retailers
0:48:49 > 0:48:52is deftly defended by Ben and Jonny.
0:48:53 > 0:48:56But has it been enough to convince their preferred Dragon to add
0:48:56 > 0:48:59the business to his technology stable?
0:49:02 > 0:49:05My big issue is the fact that there is a big concern over the amount
0:49:05 > 0:49:08of money that you need to raise to make this successful.
0:49:11 > 0:49:14I think you need to raise well into seven figures or more...
0:49:17 > 0:49:19..this year, to have a chance.
0:49:22 > 0:49:26This is going to take a lot of time, and this would need me to...
0:49:28 > 0:49:30..to get involved and really get behind it.
0:49:30 > 0:49:32Erm...
0:49:32 > 0:49:36So, that's why, erm...
0:49:39 > 0:49:41..I'm going to make you an offer.
0:49:47 > 0:49:49Because I'd like to get involved, and...
0:49:51 > 0:49:55..it's got me excited because I know that I could
0:49:55 > 0:49:57make this happen for us.
0:50:00 > 0:50:03- But it's going to come at a price. - Mm-hmm.
0:50:05 > 0:50:08I'm going to make you an offer of all of the money...
0:50:11 > 0:50:13..but for 25%.
0:50:16 > 0:50:21An offer, and from the Dragon the entrepreneurs want on their team.
0:50:21 > 0:50:23But it comes with a sting in its tail.
0:50:23 > 0:50:27They'll have to give away a quarter of their company to secure him.
0:50:29 > 0:50:32Will seeing the Den's technology expert make a bid
0:50:32 > 0:50:36incentivise Deborah Meaden to make a competing offer?
0:50:39 > 0:50:42I'm not a technology expert.
0:50:42 > 0:50:45But I do get the consumer side of things, and whether we like it or
0:50:45 > 0:50:48not, we're living in this world, increasing world,
0:50:48 > 0:50:52of discount and the consumer wanting to get the very best deal, and I
0:50:52 > 0:50:54completely understand, as a consumer,
0:50:54 > 0:50:56why I would want to use you.
0:51:00 > 0:51:01So...
0:51:02 > 0:51:04..I'm going to make you an offer.
0:51:08 > 0:51:10And I'm going to offer you all of the money...
0:51:12 > 0:51:14..and I want 20% of the business.
0:51:15 > 0:51:18Sorry, my heart just fluttered a little bit there.
0:51:18 > 0:51:19So did mine!
0:51:19 > 0:51:21THEY LAUGH
0:51:24 > 0:51:28Pulses are racing in the Den, as in a bid to woo the entrepreneurs,
0:51:28 > 0:51:32Deborah Meaden asks for a lower equity stake than her rival Dragon.
0:51:34 > 0:51:37Will Touker Suleyman be tempted to take on the business
0:51:37 > 0:51:39and his fellow Dragons?
0:51:39 > 0:51:42- I've got a couple of investments... - Mm-hmm.
0:51:42 > 0:51:45..in behavioural marketing.
0:51:45 > 0:51:48- Yeah.- Sure.- I think if you guys put your heads together...
0:51:50 > 0:51:53..they could help you with their technology.
0:51:55 > 0:51:58I'd like to give you half the money for 10%,
0:51:58 > 0:52:01but I'm also throwing in five brands.
0:52:01 > 0:52:06- Oh.- So you would pick up five brands immediately... - Amazing.- ..as customers.
0:52:07 > 0:52:12All I want is one more Dragon to have the same vision as I've got,
0:52:12 > 0:52:13so I will add value...
0:52:16 > 0:52:18..not just be a passive investor.
0:52:19 > 0:52:20Fantastic.
0:52:24 > 0:52:27Ben, Jonny,
0:52:27 > 0:52:28I'm passionate about technology.
0:52:28 > 0:52:30I understand what you guys are doing,
0:52:30 > 0:52:34and I believe there's a massive potential,
0:52:34 > 0:52:36and we've got my brand, Vitabiotics, which we do a huge amount
0:52:36 > 0:52:39of advertising that can be plugged straight in with all our
0:52:39 > 0:52:40individual 15 brands under that.
0:52:43 > 0:52:45I'm happy to match Touker's offer.
0:52:51 > 0:52:53Erm...10% for half the money.
0:52:54 > 0:52:57- Thank you very much. - Amazing. Tej, thank you.
0:52:57 > 0:53:02Tej Lalvani joins forces with retail tycoon Touker Suleyman,
0:53:02 > 0:53:04to try and clinch the deal.
0:53:05 > 0:53:08Four multimillionaires are now vying for the business.
0:53:10 > 0:53:13Will Jenny Campbell make it a royal flush?
0:53:16 > 0:53:19I love this. I think also you're very, very investable guys
0:53:19 > 0:53:22and you've done everything that an entrepreneur should do,
0:53:22 > 0:53:25which is, you know, risk everything, pay yourself poorly,
0:53:25 > 0:53:29live with parents and all that kind of stuff.
0:53:29 > 0:53:30So...
0:53:32 > 0:53:34..I would like to make you an offer.
0:53:36 > 0:53:40And I come to you as, you know, one of the new Dragons in the Den
0:53:40 > 0:53:43with a blank sheet of paper and lots of energy
0:53:43 > 0:53:45and a capacity to support you.
0:53:45 > 0:53:50So I'm going to make you an offer of what you asked for.
0:53:52 > 0:53:55All of the money for 15%.
0:53:55 > 0:53:57Thank you very much.
0:53:58 > 0:54:00Can we go to the...?
0:54:00 > 0:54:02- The wise wall.- The wise wall.
0:54:04 > 0:54:07A major coup for Ben and Jonny,
0:54:07 > 0:54:11as all five Dragons want a piece of Pouch.
0:54:11 > 0:54:13Peter Jones is offering all the money
0:54:13 > 0:54:16for a hefty 25% of the company.
0:54:16 > 0:54:20Deborah Meaden wants 20% and Jenny Campbell 15.
0:54:20 > 0:54:22Touker Suleyman and Tej Lalvani
0:54:22 > 0:54:25are willing to share the deal at 10% each.
0:54:25 > 0:54:28I want three of them involved, and I want them to have 6% each.
0:54:28 > 0:54:31The entrepreneurs are now firmly
0:54:31 > 0:54:34in the driving seat and, unusually, it's
0:54:34 > 0:54:36the investors who must sweat it out.
0:54:36 > 0:54:38OK, OK.
0:54:40 > 0:54:42Thank you, thank you all so much for your offers.
0:54:42 > 0:54:45This is genuinely a dream come true, and...
0:54:47 > 0:54:49..I want to propose a counter-offer.
0:54:55 > 0:54:58So,
0:54:58 > 0:55:00we're happy to go to 18%...
0:55:01 > 0:55:05..and I would like that split between three Dragons.
0:55:08 > 0:55:10Firstly, Touker,
0:55:10 > 0:55:156% from yourself, from the addition of, you know,
0:55:15 > 0:55:17your ecommerce experience and the brands you can add.
0:55:20 > 0:55:24Tej, 6% from yourself, again, the brands you can add.
0:55:26 > 0:55:28And Deborah, I felt we had a good rapport,
0:55:28 > 0:55:30made a lot of eye contact...
0:55:33 > 0:55:35..but Jenny...
0:55:36 > 0:55:39..because of the time that you have,
0:55:39 > 0:55:41we're looking for that guidance and we're looking, you know,
0:55:41 > 0:55:44for that expertise and we may need some more time, so,
0:55:44 > 0:55:47if it's acceptable to Touker, Jenny and Tej...
0:55:48 > 0:55:52..6% each, for 18% of Pouch.
0:55:57 > 0:55:58Hmm.
0:56:07 > 0:56:09I would do the 6%,
0:56:09 > 0:56:12if my other fellow two Dragons would agree the same, of course.
0:56:15 > 0:56:18So, I welcome the increased offer.
0:56:18 > 0:56:20- Brilliant.- Tej?
0:56:27 > 0:56:28Let's do it.
0:56:28 > 0:56:32- Fantastic. Thank you very much. - Shake hands.- Thank you.- Amazing.
0:56:32 > 0:56:36A thrilling finish, as the duo leave with the £75,000 investment
0:56:36 > 0:56:40in their pouch, and the Den's longest-serving Dragons
0:56:40 > 0:56:42are left to lick their wounds.
0:56:42 > 0:56:44Thank you for your offers as well.
0:56:44 > 0:56:46- I wouldn't have done it at 6% so you're fine.- OK!
0:56:46 > 0:56:49- Thank you, guys.- Cheers. Thank you.
0:56:51 > 0:56:52Oh, my God.
0:56:52 > 0:56:54THEY LAUGH
0:56:54 > 0:56:56All five Dragons!
0:56:56 > 0:56:58Hug!
0:56:58 > 0:57:01Really, it couldn't have gone better. Couldn't have gone better.
0:57:01 > 0:57:04- I think that was quite a wise move. - Yeah.- I'm not disappointed.
0:57:04 > 0:57:05Much.
0:57:05 > 0:57:08They've just made the best investment they've ever made
0:57:08 > 0:57:10in their lives, so congratulations to them, really.
0:57:12 > 0:57:15- Yeah.- Pretty much.- We firmly believe that, so.- Yeah. So well done.
0:57:26 > 0:57:31Well, confidence goes a long way in business, and we saw it help Ben
0:57:31 > 0:57:33and Jonny convince all the Dragons
0:57:33 > 0:57:35to compete for a slice of their company.
0:57:35 > 0:57:39Such a different story for Julianne and Matthew, who entered the Den so
0:57:39 > 0:57:42nervous, but still managed to negotiate a deal
0:57:42 > 0:57:44with the formidable Deborah Meaden,
0:57:44 > 0:57:48proving that there's no predicting who'll get investment in
0:57:48 > 0:57:50Dragons' Den.
0:57:52 > 0:57:54- Cheers.- Cheers.
0:57:54 > 0:57:56Coming up this series...
0:57:57 > 0:57:58Do a full job, Touker.
0:57:58 > 0:58:00One of your legs looks alive.
0:58:00 > 0:58:03I think it's only fair that you're in there with me, Deborah.
0:58:03 > 0:58:05If you'd like to all go and sit down, we'll just stay here.
0:58:07 > 0:58:11If you do not get a Dragon to invest today, you're in trouble.
0:58:11 > 0:58:13I actually think you're wasting everyone's time.
0:58:13 > 0:58:15You've said that we're not listening,
0:58:15 > 0:58:17and I haven't actually said anything yet.
0:58:17 > 0:58:21Never stand in front of anybody and say, "You're better than me."
0:58:22 > 0:58:24I think you're very investable.
0:58:24 > 0:58:26You've done a fantastic job.
0:58:26 > 0:58:29I'm the one Dragon that could take you to where you want to go.
0:58:29 > 0:58:32As one of the new Dragons, I come with a blank sheet of paper.
0:58:32 > 0:58:34- Excuse me.- It's my piece now.
0:58:34 > 0:58:36No, I'm defending my position.
0:58:36 > 0:58:39I have no interest in sharing it.
0:58:39 > 0:58:40I'm a selfish Dragon.
0:58:40 > 0:58:41This is powerful.
0:58:41 > 0:58:43Oh! Sorry!