0:00:02 > 0:00:07Tonight, five Dragons limber up to invest.
0:00:07 > 0:00:09- Yay!- Yeah, yeah, yeah.
0:00:09 > 0:00:11Easily done.
0:00:11 > 0:00:15And as a new group of entrepreneurs warm up for the toughest pitch of
0:00:15 > 0:00:17their lives...
0:00:17 > 0:00:21I'm standing here like a rabbit in headlights.
0:00:21 > 0:00:23For us, it's way more than a business,
0:00:23 > 0:00:27and it's always going to be. It's just our way of life now.
0:00:27 > 0:00:29Some will be put through their paces...
0:00:29 > 0:00:31You'll never make any money out of it.
0:00:31 > 0:00:33You're not a businessman.
0:00:33 > 0:00:36He just literally came back and went, "But..."
0:00:36 > 0:00:37You didn't hear it.
0:00:37 > 0:00:42..some will push the Dragons to their limits...
0:00:42 > 0:00:45An investor will always want to see some level of investment
0:00:45 > 0:00:48- from yourselves.- Don't speak on my behalf.
0:00:50 > 0:00:53..but who will power through and hit the ultimate target of a
0:00:53 > 0:00:55multimillionaire investor?
0:00:55 > 0:00:57This is a massive opportunity.
0:00:57 > 0:00:59You stopped me saying those two words.
0:01:02 > 0:01:04I'm going to give you an offer straightaway.
0:01:37 > 0:01:42Welcome back to Dragons' Den, where entrepreneurs with big dreams pitch
0:01:42 > 0:01:45their business ventures to five multimillionaires.
0:01:45 > 0:01:49A match made in heaven maybe, but only those who can promise big
0:01:49 > 0:01:52returns will secure the Dragons' cash.
0:01:56 > 0:02:00The first entrepreneurs tonight are Wiltshire-based Dylan Watkins and
0:02:00 > 0:02:04Louise Mackintosh, with a well balanced business partnership where
0:02:04 > 0:02:07they can both take the lead.
0:02:07 > 0:02:09We've pitched and presented a lot,
0:02:09 > 0:02:12and that side of it I don't think intimidates us.
0:02:12 > 0:02:18Oh, whoa. I'm standing here like rabbit in the headlights.
0:02:18 > 0:02:21And if the Dragons are feeling fiery,
0:02:21 > 0:02:24the duo have a secret weapon on their side.
0:02:24 > 0:02:26Very much hoping they'll be so distracted by the dog that
0:02:26 > 0:02:29they don't necessarily notice us.
0:02:37 > 0:02:39Hi.
0:02:39 > 0:02:41I'm Dylan, this is Louise, and this is Poppy,
0:02:41 > 0:02:44and we're here today to ask for £60,000
0:02:44 > 0:02:47for 5% share of Poppy's Picnic.
0:02:47 > 0:02:49We make wholesome, raw, natural dog food,
0:02:49 > 0:02:51made in the heart of Wiltshire,
0:02:51 > 0:02:54and it's handmade by fourth generation butchers.
0:02:54 > 0:02:59Five years ago, I was feeding Poppy a highly processed but expensive dry
0:02:59 > 0:03:02food, but I thought that there must be something better.
0:03:02 > 0:03:05After much research, I made my first batch of raw food.
0:03:05 > 0:03:07Fast forward two years,
0:03:07 > 0:03:11and my new neighbour wanted us to make some food
0:03:11 > 0:03:13for her Rottweilers. I knew I needed some help,
0:03:13 > 0:03:17so I asked the local village butcher to make my first recipe,
0:03:17 > 0:03:19and the rest is what you see here today.
0:03:19 > 0:03:23At the moment, the vast majority of dogs are fed highly processed meat
0:03:23 > 0:03:26derivative meals and it's unsurprising as a result
0:03:26 > 0:03:29that 55% of dogs in the UK are currently obese,
0:03:29 > 0:03:31but it is a preventable epidemic.
0:03:31 > 0:03:35Ours is a biologically appropriate raw diet, and what that means,
0:03:35 > 0:03:39quite simply, it's what dogs were designed to eat.
0:03:39 > 0:03:43Our growth from nought to 40,000 per month in less than a year shows
0:03:43 > 0:03:44that owners and dogs agree.
0:03:44 > 0:03:48To feed a dog like Poppy would cost just 55p a day.
0:03:48 > 0:03:50We have our own Defra licence to make food,
0:03:50 > 0:03:53and our abattoir is RSPCA assured.
0:03:53 > 0:03:55We're launching cat food soon,
0:03:55 > 0:03:57with our new to market raw meatballs.
0:03:57 > 0:04:00We need your money today, to help catapult this growth.
0:04:00 > 0:04:03Louise is going to bring some food over for you to have a look at.
0:04:04 > 0:04:08With plans to generate a raw pet food revolution,
0:04:08 > 0:04:13Dylan Watkins and Louise Mackintosh are looking for £60,000 for 5% of
0:04:13 > 0:04:16- their company. - Shall I take that lead- off?
0:04:16 > 0:04:18- Go on, then.- Come on. OK. There we go.
0:04:19 > 0:04:21- OK. Bye-bye.- Bye.
0:04:21 > 0:04:24- Just me and Poppy, then.- OK, there we are, then. That's us done.
0:04:24 > 0:04:25- Fine.- Goodbye now.- Off you go.
0:04:25 > 0:04:27She's not the most loyal dog, is she?
0:04:27 > 0:04:29She's completely transferred her affections.
0:04:29 > 0:04:30- Bye.- Bye.
0:04:30 > 0:04:33Once the cuddles are out of the way...
0:04:33 > 0:04:35Come on, then. Bye-bye.
0:04:35 > 0:04:37- See you in a minute.- Bye-bye, Poppy.
0:04:37 > 0:04:40- Bye, Poppy.- ..fellow animal lover Deborah Meaden,
0:04:40 > 0:04:44who's previously invested in healthy pet treats...
0:04:44 > 0:04:48- Bye-bye.- ..is looking for assurance about the duo's ingredients.
0:04:49 > 0:04:52I have three dogs and a cat.
0:04:52 > 0:04:55And all of my animals are fed on raw food.
0:04:56 > 0:04:59I feed a product that is pure meat.
0:04:59 > 0:05:02If you're going to set yourself apart, based on this is better,
0:05:02 > 0:05:05who have you used to make sure that this is nutritionally balanced?
0:05:05 > 0:05:08We have used a team of vets to create our recipes,
0:05:08 > 0:05:11where we have worked in the amount of meat, bone ratio,
0:05:11 > 0:05:14the offal and also vegetables as well.
0:05:14 > 0:05:17We're trying to mirror as close as possible
0:05:17 > 0:05:19what the dog would eat in the wild.
0:05:19 > 0:05:21So, just so I double check,
0:05:21 > 0:05:25are you telling me you're turning over 40,000 a month?
0:05:25 > 0:05:29- Yes.- That's pretty punchy, when did you first start?
0:05:29 > 0:05:32We started selling in October of last year.
0:05:32 > 0:05:36OK, so, can you talk me through the growth between October and today?
0:05:36 > 0:05:39In October, £7,000 a month in sales.
0:05:39 > 0:05:41January, we were up to 14,000,
0:05:41 > 0:05:45then our sales for March was 17,500,
0:05:45 > 0:05:47and then April was 23,500,
0:05:47 > 0:05:50and this is excluding our international sales.
0:05:51 > 0:05:53What's the international bit?
0:05:53 > 0:05:5519,000 we shipped in April,
0:05:55 > 0:06:00and at the end of April, we had another order come in for 44,000.
0:06:00 > 0:06:03- But we haven't put those into our figures.- And which country is that?
0:06:03 > 0:06:05Hong Kong. And our license to sell in China
0:06:05 > 0:06:08is not far off from being approved.
0:06:11 > 0:06:14It's a good business, you've done well so far.
0:06:16 > 0:06:19- I think the market's great in terms of raw food.- Yes.
0:06:19 > 0:06:22And I'm very impressed with your research,
0:06:22 > 0:06:24and development on the products.
0:06:26 > 0:06:29My company, we have actually launched supplements,
0:06:29 > 0:06:31and vitamins for dogs.
0:06:31 > 0:06:35I think it's great synergy with our pet vitamins and nutrition.
0:06:38 > 0:06:40I'm going to do something I've not done -
0:06:40 > 0:06:42I'm going to give you an offer straightaway.
0:06:48 > 0:06:52So, I'm going to offer you...
0:06:52 > 0:06:55all of the money, the £60,000,
0:06:55 > 0:06:59but I'd want 15% of your business.
0:07:02 > 0:07:07In a surprise early move that pricks up everybody's ears in the Den,
0:07:07 > 0:07:12vitamin impresario Tej Lalvani jumps in with an almost immediate offer.
0:07:13 > 0:07:18But at three times the equity the entrepreneurs wanted to give away,
0:07:18 > 0:07:21will Peter Jones be nipping at his heels?
0:07:23 > 0:07:25It's going well, isn't it?
0:07:25 > 0:07:29- At the moment.- I want to know a little bit about your background,
0:07:29 > 0:07:32so your previous jobs.
0:07:32 > 0:07:33PR and marketing,
0:07:33 > 0:07:38and we met working in a PR agency as freelancers about 14 years ago,
0:07:38 > 0:07:40and we set up our own brand communications company.
0:07:40 > 0:07:44Although we were self-employed, we were still working for our clients.
0:07:44 > 0:07:46Naturally, what we wanted to do was work for ourselves,
0:07:46 > 0:07:50and focus our skills on something that we'd made and not something
0:07:50 > 0:07:53somebody was paying us to do.
0:07:53 > 0:07:55You can tell that you've done an amazing job.
0:07:55 > 0:08:00- Thank you.- So, where this business could be in three years' time,
0:08:00 > 0:08:01give me a picture of that.
0:08:01 > 0:08:04Next year, we think we'll have a profit only at 24,000,
0:08:04 > 0:08:08then our net profit in year two is 160.
0:08:08 > 0:08:11Right, so how has it gone from... that to 160?
0:08:11 > 0:08:14Because our sales will increase this year.
0:08:14 > 0:08:16- OK, I sort of assumed that.- Yeah.
0:08:17 > 0:08:19Then we are 1.9 million.
0:08:22 > 0:08:25By year three, you think you will do 1.9 million revenue?
0:08:25 > 0:08:30Yeah, with gross profit of 800,000, with a net profit of 300,000.
0:08:31 > 0:08:34How are you keeping that gross margin so high?
0:08:34 > 0:08:36With machinery and new practises,
0:08:36 > 0:08:40we will be able to comfortably make 2.5 million units at that point.
0:08:42 > 0:08:44Hmm.
0:08:44 > 0:08:47I don't believe the forecasts you've put together,
0:08:47 > 0:08:49because I think that seems very high.
0:08:51 > 0:08:53I'm not buying into the financial return.
0:08:55 > 0:08:58So, I'm going to say, sadly, I'm out.
0:09:00 > 0:09:03As quickly as they won over one Dragon,
0:09:03 > 0:09:05the entrepreneurs lose another,
0:09:05 > 0:09:09as Peter Jones casts doubts on their ambitious projections,
0:09:09 > 0:09:11and exits the deal.
0:09:11 > 0:09:16And now cashpoint queen and dog aficionado Jenny Campbell
0:09:16 > 0:09:20wants to put the duo through their paces on pricing.
0:09:20 > 0:09:24I have a sticker on my office door that says "The Mad Dog Lady".
0:09:24 > 0:09:27- Brilliant.- My dogs are rather bigger than yours,
0:09:27 > 0:09:29- they're flat-coated retrievers, you know.- Yes.
0:09:29 > 0:09:30- We do.- Good.
0:09:30 > 0:09:34So, bigger dogs. That certainly won't cost 55p a day to feed on raw.
0:09:36 > 0:09:38How much a day to feed one of my dogs?
0:09:38 > 0:09:40- Give me the weight.- 30 kilos.
0:09:40 > 0:09:4330 kilos, so we're looking at probably between
0:09:43 > 0:09:46- 600 and 900g a day.- So, this would be two of these, then?
0:09:46 > 0:09:48- It would be two packs.- Per dog.
0:09:48 > 0:09:51- Per dog.- I've got three, by the way. - OK.- So that's six packs.
0:09:51 > 0:09:54You'd be doing two packs a day, say,
0:09:54 > 0:09:56which is 1.50, that would be £9.
0:09:56 > 0:09:58- Gosh, £3 a day per dog.- Mmm-hmm.
0:09:58 > 0:10:00£9 a day.
0:10:00 > 0:10:02That's a lot, isn't it?
0:10:03 > 0:10:06It's another setback for the twosome,
0:10:06 > 0:10:10as the product's potential strain on Jenny Campbell's purse strings
0:10:10 > 0:10:11makes her pause for thought.
0:10:13 > 0:10:17But Deborah Meaden believes she's sniffed out a budding opportunity in
0:10:17 > 0:10:19their fledgling feline food range.
0:10:22 > 0:10:25Guys, you're focusing a lot on dogs, which is why...
0:10:25 > 0:10:28You've got that underway, and that's fantastic.
0:10:28 > 0:10:30I'm as interested in the cat food market...
0:10:30 > 0:10:32- So are we.- Funny enough, I think it's actually...
0:10:32 > 0:10:34It's a more compelling market,
0:10:34 > 0:10:38because you will see a tipping point on cat food when owners suddenly
0:10:38 > 0:10:42realise, "Oh, my goodness, what are we doing?"
0:10:42 > 0:10:44It's starting to bubble up.
0:10:44 > 0:10:46How close are you on the cat food?
0:10:46 > 0:10:49We're pretty close on cat food, I've been on about cat food for months,
0:10:49 > 0:10:52- as you can imagine. - We're testing out cat food.
0:10:52 > 0:10:54It's just about perfecting the recipe.
0:10:54 > 0:10:57Cats are a lot, lot fussier than dogs, so we've got...
0:10:57 > 0:11:01- Tell me about it.- We've got the packaging in process at the moment.
0:11:01 > 0:11:04The logo's being adapted for a cat face.
0:11:04 > 0:11:08The cat side looks great, it really does.
0:11:08 > 0:11:10OK.
0:11:10 > 0:11:14In terms of what I could bring, I've got food manufacturing.
0:11:16 > 0:11:18In terms of the dog side, I will tell you,
0:11:18 > 0:11:21Jenny's a judge in dog shows, and whatever,
0:11:21 > 0:11:23but I'm saying I have quite an authentic voice
0:11:23 > 0:11:26within the dog community.
0:11:26 > 0:11:29But I've obviously got the contacts in the retail.
0:11:31 > 0:11:33It's a well trodden path for me.
0:11:33 > 0:11:35So, I'm going to make you an offer.
0:11:39 > 0:11:41I'll match Tej's offer.
0:11:43 > 0:11:46All of the money for 15% of the business.
0:11:49 > 0:11:53Not one to pussyfoot about, Deborah Meaden is now in direct
0:11:53 > 0:11:57competition with Tej Lalvani's early bid.
0:11:57 > 0:12:00And Touker Suleyman is also weighing up his position
0:12:00 > 0:12:02on the animal food company.
0:12:05 > 0:12:07You're very investable.
0:12:07 > 0:12:09The brand's very investable.
0:12:11 > 0:12:15I have, at home, no dogs.
0:12:15 > 0:12:19So, if I was an investor, I would have no knowledge on dog food.
0:12:19 > 0:12:24- OK.- But I have a lot of knowledge about manufacturing, packaging,
0:12:24 > 0:12:26distribution, finance...
0:12:28 > 0:12:31I think I could add a lot of value to you,
0:12:31 > 0:12:33and I'm going to make you an offer.
0:12:34 > 0:12:37I will match the other Dragons, all the money for 15%.
0:12:41 > 0:12:43With three offers on the table,
0:12:43 > 0:12:45I just need to tell you what I would add.
0:12:45 > 0:12:48I have taken a business and transformed that business,
0:12:48 > 0:12:52in terms of its operational processes from end to end,
0:12:52 > 0:12:54I took that into four countries.
0:12:56 > 0:12:57I am passionate about dogs,
0:12:57 > 0:12:59and they're a very important part of my life -
0:12:59 > 0:13:01as are all animals.
0:13:01 > 0:13:05I do think this is a massive opportunity.
0:13:05 > 0:13:06So I will make you an offer.
0:13:08 > 0:13:10I don't see any point in splitting hairs.
0:13:13 > 0:13:16I'll invest all the money at 15%.
0:13:20 > 0:13:24There are now four identical offers on the table.
0:13:24 > 0:13:29Can Tej Lalvani, the original leader of the pack with his early offer,
0:13:29 > 0:13:32get his nose back out in front?
0:13:32 > 0:13:35I could do everything that you need as a Dragon to be able to get
0:13:35 > 0:13:36where you want to get.
0:13:36 > 0:13:39We work very closely with Battersea Dogs and Cats Home,
0:13:39 > 0:13:43and we do a lot of research with them, we worked under the charity...
0:13:43 > 0:13:46And in terms of manufacturing,
0:13:46 > 0:13:48obviously, we manufacture a huge amount of product,
0:13:48 > 0:13:51and we ship them internationally to over 100 countries.
0:13:51 > 0:13:54So, in terms of logistics, dealing with international parties,
0:13:54 > 0:13:58and working margins, I can obviously help in that area.
0:13:58 > 0:14:00Thank you.
0:14:00 > 0:14:03It's an enviable position for the entrepreneurs,
0:14:03 > 0:14:05with four Dragons vying to be top dog.
0:14:05 > 0:14:08Do you want to go back and have a chat with yourselves?
0:14:08 > 0:14:10- That might help, thank you. - A huddle's needed. Thank you, all.
0:14:10 > 0:14:12- Huddle under the light.- Thank you.
0:14:14 > 0:14:18At three times the equity on the table, it's not an easy call,
0:14:18 > 0:14:21with all the bids coming in at 15%.
0:14:23 > 0:14:25Much higher than what I wanted to do.
0:14:25 > 0:14:27Is it worth pulling out?
0:14:27 > 0:14:29Erm...
0:14:29 > 0:14:31OK, let's go questions.
0:14:31 > 0:14:35Thank you. We weren't expecting to have four offers.
0:14:35 > 0:14:38Your percentages, though, for me, are... Mmm,
0:14:38 > 0:14:40a little bit high.
0:14:40 > 0:14:45And they're very high, compared to where I was starting off at 5%.
0:14:45 > 0:14:47Those faces now!
0:14:47 > 0:14:49I'll tell you where I am at.
0:14:49 > 0:14:52I actually think it's a very fair offer,
0:14:52 > 0:14:56considering your net profit is going to be £24,000 this year.
0:14:58 > 0:15:02I will add to that. I know what I can add to the business,
0:15:02 > 0:15:04and I'm going to have to stick on 15%.
0:15:05 > 0:15:11OK. So I'm not going to revise my offer, it's £60,000 for 15%.
0:15:13 > 0:15:16And I'm sticking at 15%.
0:15:18 > 0:15:19There's no wiggle room,
0:15:19 > 0:15:24as the Dragons refuse to budge on their meaty equity propositions.
0:15:24 > 0:15:26I think it's decision time.
0:15:33 > 0:15:34We saw you two ladies...
0:15:34 > 0:15:39- Oh.- ..as, you know, people that we were very interested in investing,
0:15:39 > 0:15:41because, of course, dogs...
0:15:41 > 0:15:43We went to that.
0:15:43 > 0:15:46But with your knowledge, expertise...
0:15:49 > 0:15:50Deborah, we'd like to accept.
0:15:54 > 0:15:56Excellent!
0:15:56 > 0:15:58- Good job, guys.- I can't tell you how pleased I am.
0:15:58 > 0:16:01- Thank you, as well. - Well done. Congratulations.
0:16:01 > 0:16:04- Right, how exciting, I am really, really pleased.- Thank you very much.
0:16:05 > 0:16:10After a roller-coaster session, Dylan and Louise have nailed it,
0:16:10 > 0:16:12and they walk away from the Den with
0:16:12 > 0:16:16- their perfect Dragon partner on board.- It was the right thing to do.
0:16:16 > 0:16:19- Right thing to do.- OK.- Well done, Deborah.- Yeah, well done, Deborah.
0:16:19 > 0:16:22I think they got the right Dragon to make that a success.
0:16:22 > 0:16:24Your little face on those packs of food
0:16:24 > 0:16:27won an awful lot of people's hearts today.
0:16:27 > 0:16:30Thanks, Pops. Much love to you.
0:16:39 > 0:16:42Next into the Den, a doctor making a bold claim
0:16:42 > 0:16:47about how he's aiming to get the nation fit for purpose.
0:16:47 > 0:16:49I'm keen to change Britain's landscape,
0:16:49 > 0:16:51in terms of healthy eating.
0:16:52 > 0:16:55If Jamie Oliver can do it, then I think Doctor Asif can do it as well.
0:17:00 > 0:17:04Hi, Dragons. My name's Asif, I'm the founder of Date Smoothie,
0:17:04 > 0:17:06and I'm here today seeking a £50,000 investment
0:17:06 > 0:17:09for a 10% stake in my business.
0:17:09 > 0:17:11Before I start, I'd like to ask a quick question.
0:17:11 > 0:17:14How many of you missed breakfast this morning?
0:17:14 > 0:17:19Deborah? OK. Well, that was me many years ago as a junior doctor,
0:17:19 > 0:17:22rushing out the house, trying to make the half seven ward round.
0:17:22 > 0:17:24It was only when I collapsed in theatre last year,
0:17:24 > 0:17:27that I decided to bring breakfast to work.
0:17:27 > 0:17:30And that was in the form of smoothies available on the shelves.
0:17:30 > 0:17:34However, these smoothies contain upwards of 40g of sugar.
0:17:34 > 0:17:36And being a doctor, that didn't sit well with me.
0:17:36 > 0:17:39So using my knowledge of human nutrition and physiology,
0:17:39 > 0:17:44I devised my own recipe and created Date Smoothie.
0:17:44 > 0:17:47Each 250 ml bottle contains...
0:17:47 > 0:17:52only natural ingredients - such as flax seeds, as a source of fibre,
0:17:52 > 0:17:55and dates as a natural source of sweetener.
0:17:55 > 0:18:00Since then, I've incorporated a unique food compartment
0:18:00 > 0:18:03into the design that contains trail mix -
0:18:03 > 0:18:07making this the world's first complete liquid,
0:18:07 > 0:18:09and solid meal replacement.
0:18:09 > 0:18:13I welcome you to try the products, and I look forward to any questions.
0:18:13 > 0:18:15Thank you.
0:18:15 > 0:18:17A smoothie with a side of nuts and seeds
0:18:17 > 0:18:21is the package on offer from Doctor Asif Munaf.
0:18:21 > 0:18:23So, there's three different flavours there.
0:18:23 > 0:18:26Hazelnut, pecan, and cacao.
0:18:26 > 0:18:29He's looking for an investment of £50,000
0:18:29 > 0:18:32in return for 10% of his company.
0:18:32 > 0:18:33What's that one?
0:18:33 > 0:18:37That's the cacao. That's the mild hint of coffee.
0:18:37 > 0:18:41- Oh, OK.- Can health supremo Tej Lalvani
0:18:41 > 0:18:44see a wholesome future in this liquid breakfast product?
0:18:46 > 0:18:50- Hi, Asif.- Hi.- I actually like one of them, the hazelnut one's very nice.
0:18:50 > 0:18:54- Yeah, that's the popular one.- Your formulation is quite good, actually.
0:18:54 > 0:18:58Using my knowledge and my research in human nutrition and physiology,
0:18:58 > 0:19:02I've created a product that's not just off-the-cuff.
0:19:02 > 0:19:04No, I mean, you've clearly thought about it well.
0:19:04 > 0:19:08Tell me, there's quite a few date drinks on the market.
0:19:08 > 0:19:10How does yours compare?
0:19:10 > 0:19:13Our unique selling point is that it's not just a date drink,
0:19:13 > 0:19:16the date is a sweetener to the drink.
0:19:16 > 0:19:19The date name is actually Doctor Asif's Thoughtful Eating,
0:19:19 > 0:19:20it's an acronym.
0:19:21 > 0:19:23I wouldn't have realised that, I would have just...
0:19:23 > 0:19:26- Doctor Asif's... - ..Thoughtful Eating.
0:19:26 > 0:19:28Thoughtful Eating?
0:19:28 > 0:19:31- Oh.- Asif, I think you've done a lovely thing.
0:19:31 > 0:19:34But please don't be that clever over "date."
0:19:34 > 0:19:37You're thinking's wrong, completely wrong, in terms of your brand.
0:19:37 > 0:19:39I believe the branding is quite strong, actually.
0:19:40 > 0:19:43Because using "date," you know, it's an acronym,
0:19:43 > 0:19:47- it's not just a date smoothie. - That's... OK, now there's a problem.
0:19:47 > 0:19:49If you see a product on the shelf that has got date written all the
0:19:49 > 0:19:53way across the front of it, most people, I promise you,
0:19:53 > 0:19:56are going to think that it's a date product.
0:19:57 > 0:20:00I absolutely promise you, and that isn't coming from any expertise,
0:20:00 > 0:20:03that's coming from good old-fashioned common sense.
0:20:03 > 0:20:07Now, the fact that you won't hear that, that's a bit of an issue.
0:20:07 > 0:20:09But...but the...
0:20:09 > 0:20:11No, you didn't hear it, you just came, "but..."
0:20:11 > 0:20:14You literally came back and went, "but..."
0:20:14 > 0:20:15You didn't hear it.
0:20:17 > 0:20:20A sticky encounter, as Asif's choice of name
0:20:20 > 0:20:23gets him on the wrong side of Deborah Meaden.
0:20:24 > 0:20:27Meanwhile, Touker Suleyman wants to share his thoughts
0:20:27 > 0:20:30on his perfect start to the day.
0:20:32 > 0:20:34I drink a smoothie every morning.
0:20:34 > 0:20:37And I'll tell you what it is. Maybe you can tell me if it's right or wrong.
0:20:37 > 0:20:43- Right.- So, I put strawberries, blackberries and raspberries,
0:20:43 > 0:20:46a banana, granola, juice, I mix it all up,
0:20:46 > 0:20:48that's my breakfast and I drink it.
0:20:48 > 0:20:52- Yeah.- Now, if I felt that I wanted to be in the smoothie business,
0:20:52 > 0:20:58I'd take that recipe, I'd go to a manufacturer and I'd say,
0:20:58 > 0:21:00"Touker's Smoothie."
0:21:02 > 0:21:03But who is Touker?
0:21:05 > 0:21:06I'll tell you who Touker is.
0:21:06 > 0:21:09Touker actually is better known than you.
0:21:09 > 0:21:11- Of course, yes.- So, therefore, I've got more of a chance of
0:21:11 > 0:21:14starting my own smoothie business than you have.
0:21:17 > 0:21:20A battle of wills as Asif and Touker Suleyman
0:21:20 > 0:21:24bicker over who has the most pulling power.
0:21:24 > 0:21:29And now, Jenny Campbell's wrestling with the idea behind the nut box.
0:21:30 > 0:21:33I wanted to pick up on this chamber thing.
0:21:33 > 0:21:35So, what am I going to do, am I going to unscrew this and eat them out my
0:21:35 > 0:21:38- hand and drink the...? - That's right, yeah.
0:21:38 > 0:21:40So, it's two separate compartments that can be left on your desk,
0:21:40 > 0:21:42and you can nibble away at the nuts all day long,
0:21:42 > 0:21:44and you can drink the smoothie.
0:21:44 > 0:21:46So it's a liquid and solid meal replacement.
0:21:46 > 0:21:48I don't see the connection there.
0:21:48 > 0:21:50I would have bought a packet of nuts or something.
0:21:50 > 0:21:53I think you're branching into something that's already existing in
0:21:53 > 0:21:54many shapes and forms.
0:21:55 > 0:21:58I think combining the two together is quite novel, and doing it in
0:21:58 > 0:22:01- a nutritionally balanced way... - Yes, we don't want to do things
0:22:01 > 0:22:03that are novel.
0:22:03 > 0:22:05We want to do things that get over novelty factor,
0:22:05 > 0:22:07you know, and have a sustainable future.
0:22:09 > 0:22:13Jenny Campbell deems Asif's smoothie and nut mix
0:22:13 > 0:22:15an overcomplicated combination,
0:22:15 > 0:22:21prompting Tej Lalvani to wonder how it's going down in the shops.
0:22:21 > 0:22:24Have you tried approaching any of the big retailers?
0:22:24 > 0:22:27Not at the moment, no, because at the moment it's got a shelf life of
0:22:27 > 0:22:29- three days and...- Three days?- Yes.
0:22:30 > 0:22:33Because it's got live ingredients in there.
0:22:33 > 0:22:35Using the investment, which I'm hoping to get...
0:22:37 > 0:22:41..these smoothies can be processed using HPP technique
0:22:41 > 0:22:45to extend the shelf life to roughly 21 days.
0:22:45 > 0:22:48So, you're saying from the day this is made,
0:22:48 > 0:22:51it's got to sell off the shelves really, really quickly?
0:22:51 > 0:22:56Now, that's fine if you've got the most amazing, revolutionary product,
0:22:56 > 0:22:59but you will never convince them that it's worth taking a risk on.
0:22:59 > 0:23:01Deborah, can I ask you a question, sorry?
0:23:01 > 0:23:03How... What's the shelf life of a sandwich?
0:23:03 > 0:23:05Yeah, but that's ambient.
0:23:05 > 0:23:08And people buy sandwiches all day, every day.
0:23:08 > 0:23:12This is a new product, that is very much into a narrow market,
0:23:12 > 0:23:14- that I expect to last a little bit longer.- Mmm-hmm.
0:23:16 > 0:23:21The cold shoulder again from Deborah Meaden as the Dragons spot some
0:23:21 > 0:23:24issues with Asif's product's short shelf life.
0:23:26 > 0:23:29But has Peter Jones been convinced by the doctor's prescription
0:23:29 > 0:23:31to eat yourself fit?
0:23:33 > 0:23:37I'm always a great believer in being really straight to the point.
0:23:37 > 0:23:39I'm being a bit frustrated here, but the thing is,
0:23:39 > 0:23:42I don't think you realise, you haven't really looked at the market.
0:23:42 > 0:23:44I have. I've done excessive market research.
0:23:44 > 0:23:47Well, if you had, you will know that it's almost impossible to launch
0:23:47 > 0:23:49a smoothie product into the market - especially into retail.
0:23:49 > 0:23:52No, I disagree. It's got 12% annual growth rate,
0:23:52 > 0:23:54combined annual growth rate, year-on-year.
0:23:54 > 0:23:57It's a 5 billion industry, 85 million in the UK.
0:23:57 > 0:24:01So, tell me how much did Innocent smoothies make in the first 15,
0:24:01 > 0:24:03ten years of their life?
0:24:04 > 0:24:07They had the biggest market share, so they must have sold millions.
0:24:07 > 0:24:10- How much money did they make? - In excess of tens of millions.
0:24:10 > 0:24:13Well, I can tell you, they didn't make any money.
0:24:15 > 0:24:17Did not make any money.
0:24:17 > 0:24:20Yes, but I believe in my credentials...
0:24:20 > 0:24:23Your credentials won't make a slight difference, sadly.
0:24:23 > 0:24:26I'd much prefer you to stay in the profession of which you've been
0:24:26 > 0:24:28trained to help and save lives,
0:24:28 > 0:24:32because this product will never make it to the market and you'll never
0:24:32 > 0:24:34make any money out of it. You have no chance.
0:24:36 > 0:24:38I know that that might be hard to hear.
0:24:38 > 0:24:40No, that's completely fine, because the smoothies,
0:24:40 > 0:24:43I agree, the smoothies, it may be a saturated market.
0:24:43 > 0:24:46Look, Asif, it's not something for me.
0:24:46 > 0:24:50- I'm out.- That's fine.
0:24:50 > 0:24:53Peter Jones discharges himself from proceedings,
0:24:53 > 0:24:56advising the doctor to stick to his day job.
0:24:58 > 0:25:03And it looks like Asif's credentials are also on Touker Suleyman's mind.
0:25:04 > 0:25:08I do respect the fact that you're a doctor,
0:25:08 > 0:25:11and I do respect the fact that you're knowledgeable.
0:25:11 > 0:25:15I'm a great believer of prevention is better than cure.
0:25:15 > 0:25:17- Yeah, certainly. - But you're not a businessman.
0:25:17 > 0:25:19Mmm-hmm. That's what I'm here for. That's why I'm here.
0:25:19 > 0:25:25No, but... Yeah, hold on. As far as business is concerned, I think...
0:25:25 > 0:25:26you'd make more money being a consultant
0:25:26 > 0:25:30to another smoothie company. You'd be a very rich man.
0:25:30 > 0:25:32So, they are my kind words to you,
0:25:32 > 0:25:35but my other words to you are very simple.
0:25:35 > 0:25:38I'm not going to invest in your business,
0:25:38 > 0:25:41- so I'm out.- OK.
0:25:41 > 0:25:45Asif, I really like the thinking behind it.
0:25:45 > 0:25:49I love what you're trying to do, but if you can't improve this,
0:25:49 > 0:25:50take Peter's advice.
0:25:50 > 0:25:53It's a narrow market, it's wrongly branded,
0:25:53 > 0:25:57and it's got intrinsic issues in terms of the way it's delivered.
0:25:57 > 0:25:59This is not an investment.
0:26:00 > 0:26:02I'm afraid I'm out.
0:26:03 > 0:26:09Three Dragons now find Asif's recipe for success indigestible.
0:26:11 > 0:26:14But Tej Lalvani is in the health business.
0:26:14 > 0:26:19Does he see the doctor's product as a healthy fit with his own?
0:26:21 > 0:26:25I'd say just do it very carefully, if you want to do it.
0:26:25 > 0:26:27Approach it with care, see the feedback,
0:26:27 > 0:26:30and I'd take Deborah's advice on board with the packaging as well.
0:26:31 > 0:26:34It really doesn't communicate the benefits of your product and it
0:26:34 > 0:26:38needs to be on the front. But otherwise, for me,
0:26:38 > 0:26:41it's too much of a risk to invest.
0:26:41 > 0:26:43I'm out.
0:26:44 > 0:26:48Tej Lalvani's exit only leaves Jenny Campbell.
0:26:48 > 0:26:52Could she be the Dragon to nurture the seeds of Asif's start-up?
0:26:54 > 0:26:56Asif, do you own 100% of the business?
0:26:56 > 0:26:59- I do, yes.- What have you valued it at?
0:26:59 > 0:27:03I think the company can be valued at half a million, £500,000.
0:27:03 > 0:27:06How can you say this is worth half a million pounds?
0:27:06 > 0:27:11Because a business's valuation is not solely based on its balance sheets.
0:27:11 > 0:27:14- What is it based on, then?- It's based on the potential market it's
0:27:14 > 0:27:18going into, its place in that market, its differentiation,
0:27:18 > 0:27:21its founder, its ethics, its ethos.
0:27:21 > 0:27:24But a lot of that is future value with all the risks along the way.
0:27:24 > 0:27:27- Yeah, exactly.- You know, that's not an investment at all.
0:27:27 > 0:27:31You are so early stage and you need somebody who you will listen to from
0:27:31 > 0:27:33a business perspective.
0:27:33 > 0:27:35But, today, it's not an investment for me.
0:27:35 > 0:27:37- So, I'm out.- Thank you.
0:27:37 > 0:27:40- Good luck, Asif.- Good luck. - Thank you.
0:27:40 > 0:27:43A less than smooth date with the Dragons as Asif
0:27:43 > 0:27:47leaves the Den without the financial connection he was
0:27:47 > 0:27:50looking for, but it's given serial risk taker Touker Suleyman
0:27:50 > 0:27:55some food for thought about turning his breakfast into a business.
0:27:55 > 0:27:58I've got more chance of using a Touker shake than anything else.
0:27:58 > 0:28:02- You could call it Touker's Smooth. - HE LAUGHS
0:28:02 > 0:28:04Would I buy a Touker smoothie?
0:28:04 > 0:28:06No, I wouldn't.
0:28:06 > 0:28:08I think my auntie could make better smoothies.
0:28:17 > 0:28:21So far tonight, £60,000 has already been pledged.
0:28:21 > 0:28:26With your knowledge, expertise, Deborah, we'd like to accept.
0:28:26 > 0:28:28So, if the Dragons are to be persuaded
0:28:28 > 0:28:30to part with any more of their cash...
0:28:30 > 0:28:34Would you say that if I wanted to invest, it would be a punt?
0:28:34 > 0:28:38Part of me's going, "No, just don't do this," you know?
0:28:38 > 0:28:41..our final entrepreneurs will need to have their wits about them.
0:28:41 > 0:28:43That's not a good answer.
0:28:43 > 0:28:44It doesn't excite me.
0:28:44 > 0:28:47I'm wondering if you've got entrepreneurial freeze.
0:28:47 > 0:28:49Keep on dreaming.
0:28:49 > 0:28:51It's not going to be with my money.
0:28:59 > 0:29:04London-based Dan Edwards is next in the Den tonight with a pioneering
0:29:04 > 0:29:08exercise regime that's scaling the heights of ambition.
0:29:08 > 0:29:10Our business is building better humans.
0:29:10 > 0:29:13It's just a tool to train the body and mind through movement.
0:29:15 > 0:29:17For us, its way more than a business,
0:29:17 > 0:29:19and it's always going to be. It's just our way of life now.
0:29:55 > 0:29:56I feel I should applaud.
0:29:58 > 0:30:00I just hope you don't ask us to do that.
0:30:00 > 0:30:01Oh, I wanted a go.
0:30:01 > 0:30:03I do that every morning.
0:30:03 > 0:30:04Great.
0:30:05 > 0:30:07Hi, my name's Dan Edwards,
0:30:07 > 0:30:11I'm the CEO and co-founder of Parkour Generations.
0:30:11 > 0:30:15We're living in a world that is desperately in need of more movement.
0:30:15 > 0:30:18The information age has given rise to very sedentary and immobile
0:30:18 > 0:30:22lifestyles, and that's had people out looking for refreshing new ways
0:30:22 > 0:30:25to get fit, get active, get mobile, and to engage with their body
0:30:25 > 0:30:27and mind, and connect with their environment.
0:30:27 > 0:30:30Parkour is a way of training the body and mind through
0:30:30 > 0:30:33movement, including movements like running, jumping, climbing,
0:30:33 > 0:30:36crawling, vaulting. Earlier this year,
0:30:36 > 0:30:38parkour was recognised as a new sport in the UK,
0:30:38 > 0:30:40which was the first country ever to do so.
0:30:40 > 0:30:42We provide services such as teaching,
0:30:42 > 0:30:45classes, workshops, events. We also provide for movies,
0:30:45 > 0:30:48performance, live display, product launch.
0:30:48 > 0:30:51We already have early-stage agreements with one of the largest
0:30:51 > 0:30:54gym chains in the States, one of the most exclusive ones in the UK,
0:30:54 > 0:30:58to launch our parkour programmes this summer and this autumn.
0:30:58 > 0:31:03We're looking for £150,000 for 5% the company,
0:31:03 > 0:31:06and we'd love to know if any of you goes would like to have a go.
0:31:06 > 0:31:09- Yeah, let's do it.- Why not?- Let's do it.- Let's do it, great.
0:31:09 > 0:31:12A sure-footed pitch from Dan Edwards,
0:31:12 > 0:31:15who is offering 5% of his movement
0:31:15 > 0:31:19training classes in return for £150,000.
0:31:19 > 0:31:21- So I'm going to come up, up. - Pop up, that's it.
0:31:21 > 0:31:24- I'm going to go over.- Exactly.- And I'm going to pop off.
0:31:24 > 0:31:26And pop down. Beautiful.
0:31:26 > 0:31:29Isn't that what they do at the end?
0:31:29 > 0:31:33The next obstacle for the entrepreneur is the Dragons' questioning.
0:31:33 > 0:31:34- That's it.- Whoops.
0:31:34 > 0:31:37- THEY LAUGH - Yeah, yeah!
0:31:37 > 0:31:39Beautifully done!
0:31:39 > 0:31:42Starting with leisure industry insider and movie fan,
0:31:42 > 0:31:43Deborah Meaden.
0:31:47 > 0:31:49Dan, that was fun.
0:31:49 > 0:31:52So, you do that really cool stuff over the roofs and over the...?
0:31:52 > 0:31:55- Yeah.- Do you do that?- Yes, yes. - And what films have you done?
0:31:55 > 0:31:58Most recent productions we worked with were Spider-Man,
0:31:58 > 0:32:00Assassin's Creed, Patient Zero.
0:32:00 > 0:32:03So, I guess, for me, the most important question is,
0:32:03 > 0:32:05could you get me a part in one of those movies doing parkour?
0:32:05 > 0:32:08- Absolutely. A bit of training. - OK, right, you're on.
0:32:08 > 0:32:10All right, now, get serious.
0:32:10 > 0:32:12You're obviously trading, you're doing a lot of work.
0:32:12 > 0:32:14So, what's the turnover?
0:32:14 > 0:32:17Last year was 424,000.
0:32:17 > 0:32:19And the year before that was 357.
0:32:19 > 0:32:20The year before that was 312.
0:32:20 > 0:32:23- And profit?- Profit last year was 64,000.
0:32:23 > 0:32:25Profit the year before that was 28.
0:32:25 > 0:32:28The year before that, we actually made a loss of about 50,000.
0:32:28 > 0:32:31I think because we were building a facility in London, the gym.
0:32:31 > 0:32:32How big do you see this going?
0:32:32 > 0:32:35We see it fairly big. For example, in the fitness industry,
0:32:35 > 0:32:38what we want to do is license our content. For example,
0:32:38 > 0:32:41a gym chain in the States might have 500 clubs and the idea is
0:32:41 > 0:32:45they pay a licence fee per club per year to have your brand and your
0:32:45 > 0:32:48content in there, and you train their instructors,
0:32:48 > 0:32:50and then they deliver the classes.
0:32:51 > 0:32:53If you're above a certain age, say, I'm 40 plus,
0:32:53 > 0:32:55how easy is it to learn some of these things?
0:32:55 > 0:32:58Because you guys were doing somersaults and flips and presumably
0:32:58 > 0:33:00that's quite hard to do?
0:33:00 > 0:33:03What you see there is a little bit of the high-end stuff,
0:33:03 > 0:33:05but it's absolutely accessible to everyone.
0:33:05 > 0:33:07The vast majority of parkour training is just refining your
0:33:07 > 0:33:09movement skills.
0:33:09 > 0:33:13And what's been the reaction with gyms in the UK that you've
0:33:13 > 0:33:16approached already for licencing something like this?
0:33:16 > 0:33:18Most of them are very, very, very interested.
0:33:18 > 0:33:20Which ones have you met and what have they said?
0:33:20 > 0:33:23We've met pretty much all of the big ones, the Fitness Firsts,
0:33:23 > 0:33:24the Virgins and the David Lloyds,
0:33:24 > 0:33:26and they definitely want to engage with it,
0:33:26 > 0:33:29but we haven't really found one that is exactly the right fit.
0:33:30 > 0:33:32Well, what how do you mean, "the right fit,"
0:33:32 > 0:33:34because presumably all of them should be really interested
0:33:34 > 0:33:37- in something which is new and exciting?- Yes, but there's
0:33:37 > 0:33:40certain things that we want in place. So we're very interested
0:33:40 > 0:33:42in making sure that it retains its movement quality.
0:33:42 > 0:33:45- So, of the big chains, have any of them shown real interest?- Yes.
0:33:46 > 0:33:50- How many?- Two to three were very, very interested,
0:33:50 > 0:33:53and we are still in negotiations with some of them.
0:33:54 > 0:33:57Tej Lalvani has uncovered potential interest,
0:33:57 > 0:34:01but no take-up from big industry players,
0:34:01 > 0:34:04which has left Peter Jones questioning the company's
0:34:04 > 0:34:06seven-figure price tag.
0:34:07 > 0:34:09I was hoping that you would come in and say, "Well,
0:34:09 > 0:34:12"I've signed three gyms, we're doing a roll out,
0:34:12 > 0:34:14"that's why we need 150,000,
0:34:14 > 0:34:18"and we've already got all of these signed up,
0:34:18 > 0:34:19"and here are the deals", but you're not.
0:34:21 > 0:34:24Why have you come in with such a ludicrous valuation?
0:34:26 > 0:34:29We are rolling out in summer with the second largest gym chain in the
0:34:29 > 0:34:31States, so they will be piloting the programmes there,
0:34:31 > 0:34:35and then they will roll out to their 450 clubs, so that is going ahead,
0:34:35 > 0:34:38and in the UK in the autumn we will be rolling it out in London with
0:34:38 > 0:34:39a very exclusive gym.
0:34:39 > 0:34:41- One gym?- Yeah, it's a very high-end gym.
0:34:41 > 0:34:44It's a very expensive gym to be a member of.
0:34:44 > 0:34:47Yeah, but it's kind of like you want to build a fire and you've, at the
0:34:47 > 0:34:48moment you've collated some wood,
0:34:48 > 0:34:51but you don't have the ability to light the fire.
0:34:53 > 0:34:55You have no contracts in place,
0:34:55 > 0:34:57and you're valuing this at three million,
0:34:57 > 0:34:59which is a bit annoying.
0:35:01 > 0:35:04I can completely understand how you might look at it that way.
0:35:04 > 0:35:07It's been recognised as a sport in the UK, that is a huge thing,
0:35:07 > 0:35:10so, this is the amount of work we have done to create this industry,
0:35:10 > 0:35:12and ring-fence our products and our content and our brand.
0:35:12 > 0:35:15That's the point, you haven't done that.
0:35:15 > 0:35:16You have not done that at all.
0:35:18 > 0:35:21Tell me about the agreements that you've got in the UK with one
0:35:21 > 0:35:23gym, not a gym where it's an exclusive gym,
0:35:23 > 0:35:25I want to know the big gyms.
0:35:25 > 0:35:27So do you know Kicks? So Kicks is the most expensive...
0:35:27 > 0:35:29- I'm a member of Kicks. - Yeah, great, awesome.
0:35:29 > 0:35:31If I go on Saturday and say,
0:35:31 > 0:35:34"What activities have you got in your gym?",
0:35:34 > 0:35:36- they will mention you, will they? - They might keep it secret.
0:35:36 > 0:35:38They won't keep it secret. They know me very well there.
0:35:38 > 0:35:40But, yes, we are piloting the course in September.
0:35:40 > 0:35:42- Have you signed up the agreement? - Well...
0:35:42 > 0:35:46- Is it signed?- No, we haven't signed an agreement.- Ah, ah!
0:35:46 > 0:35:48- So, you haven't signed?- No, no.
0:35:48 > 0:35:50OK. Fine. So you've answered my question.
0:35:50 > 0:35:53- You have not signed.- Yeah.
0:35:53 > 0:35:55I get the impression that you're dreaming.
0:35:58 > 0:36:02So, all I can say to you is keep on dreaming,
0:36:02 > 0:36:03it's not going to be with my money,
0:36:03 > 0:36:05and I'm out.
0:36:05 > 0:36:09A sceptical Touker Suleyman is the first Dragon out,
0:36:09 > 0:36:14unconvinced by Dan's claims of impressive growth on the horizon.
0:36:14 > 0:36:18But Jenny Campbell, queen of the business flip,
0:36:18 > 0:36:21is more concerned about the company's financial structure.
0:36:21 > 0:36:24You have used "we" a lot. Who owns this business?
0:36:24 > 0:36:27There's three co-founders, so three shareholders.
0:36:27 > 0:36:29So, the equity is 33 and a third each, is it?
0:36:29 > 0:36:32- Yeah.- And what money has gone into the business already?
0:36:32 > 0:36:34There's no money has gone into it
0:36:34 > 0:36:36from any loans or anything like that.
0:36:36 > 0:36:38None of you have invested any money in this,
0:36:38 > 0:36:40you've just lived on what it's generated?
0:36:40 > 0:36:42Yeah.
0:36:42 > 0:36:44So have you heard of the phrase in business,
0:36:44 > 0:36:46- "Having your own skin in the game"?- Yeah.
0:36:47 > 0:36:50You've got no money in this business yourself, you've put nothing in.
0:36:52 > 0:36:55I suppose we didn't have the cash to put in.
0:36:55 > 0:36:57An investor will always want to see some level
0:36:57 > 0:37:00- of investment from yourselves.- We have entrepreneurs in the Den here
0:37:00 > 0:37:03who have mortgaged their houses, sold their houses...
0:37:03 > 0:37:06Don't speak on my behalf, cos actually I don't always want to see
0:37:06 > 0:37:08money in the business. Speak on your behalf.
0:37:08 > 0:37:11- Some investors will want to see that, yeah?- Yeah.
0:37:11 > 0:37:14You have to put yourself in an investor's shoes and say,
0:37:14 > 0:37:16"What's an investor going to look for?"
0:37:16 > 0:37:19And they need to see a credible entrepreneur, a credible product,
0:37:19 > 0:37:21something that will give them a rate of return,
0:37:21 > 0:37:24and it's impossible to see a rate of return on this,
0:37:24 > 0:37:26for this level of investment,
0:37:26 > 0:37:28for the level of equity that you're offering.
0:37:28 > 0:37:30It is really quite difficult.
0:37:30 > 0:37:33There's nothing concrete there at the moment to hold on to.
0:37:33 > 0:37:35It's the first newly recognised sport in 30 years in the country,
0:37:35 > 0:37:38- that's a big thing.- I do recognise your passion
0:37:38 > 0:37:39and enthusiasm for this.
0:37:39 > 0:37:42I don't recognise the business opportunity at all.
0:37:44 > 0:37:45I'm out.
0:37:47 > 0:37:50Jenny Campbell doesn't see a viable proposition,
0:37:50 > 0:37:53and is the second Dragon down.
0:37:53 > 0:37:54Will Deborah Meaden,
0:37:54 > 0:37:58who already has a foothold in gym-based exercise classes,
0:37:58 > 0:38:01take a leap of faith and invest in this one?
0:38:05 > 0:38:07So, Dan, I think it's really cool what you've done,
0:38:07 > 0:38:11I think it's fantastic that you've got this recognised as a sport,
0:38:11 > 0:38:14but the first two words I wrote down are "Class size."
0:38:14 > 0:38:17How many people can you get into a class?
0:38:17 > 0:38:20We run classes regularly that are up to 70 people in a class,
0:38:20 > 0:38:23depending on the space. In a small space, so for example, in here,
0:38:23 > 0:38:27we would probably have a max of 40 people in the class.
0:38:27 > 0:38:29Now, I get that, but the point about class size is,
0:38:29 > 0:38:34- gyms are looking to attract more people into those rooms.- Yeah.
0:38:34 > 0:38:38And every time you put a piece of kit in, it knocks a body out,
0:38:38 > 0:38:40and it is the size of the movement that we were doing there,
0:38:40 > 0:38:44you need space to do this that you don't need when you're standing next
0:38:44 > 0:38:46door to each other and moving.
0:38:47 > 0:38:52But also, it is going to be restricted to a certain type of person,
0:38:52 > 0:38:56so it worries me that your market is getting smaller and smaller.
0:38:56 > 0:38:58So, I won't be investing.
0:38:58 > 0:39:00I'm out.
0:39:00 > 0:39:02Thanks.
0:39:02 > 0:39:05Dan, I think you've been really disingenuous coming in here with a
0:39:05 > 0:39:08valuation of three million, and incredibly disappointing.
0:39:08 > 0:39:12You've made it absolutely clear you don't want investment,
0:39:12 > 0:39:16because you're valuing your business at 50 times its earnings,
0:39:16 > 0:39:18which is ludicrous.
0:39:20 > 0:39:22So, on that basis, I'm out.
0:39:25 > 0:39:31As Peter Jones rejects the deal, irritated by the valuation,
0:39:31 > 0:39:35only fitness fan Tej Lalvani is still in play.
0:39:36 > 0:39:41Can Dan persuade the last Dragon standing that his training system
0:39:41 > 0:39:42does have legs?
0:39:42 > 0:39:44I actually love what you're doing.
0:39:45 > 0:39:47You know, I've always loved climbing as a kid.
0:39:49 > 0:39:52The only thing I'm struggling with is...
0:39:52 > 0:39:55is the reception that you've got from some of the chains, I mean,
0:39:55 > 0:39:58they should have adopted it and taken it and signed up,
0:39:58 > 0:40:01and I think you're probably going to have a lot of difficulty.
0:40:01 > 0:40:06My advice is to continue with the one gym that you're building,
0:40:06 > 0:40:11make that a success, fill it up, and then move on to another location,
0:40:11 > 0:40:13and you just own the franchises and build it up.
0:40:13 > 0:40:17But, even as a punt, the equity split three ways between you,
0:40:17 > 0:40:20and if I wanted 40%, I'm going to be the major shareholder.
0:40:20 > 0:40:22And that just doesn't work.
0:40:22 > 0:40:25It needs to be you guys driving the business forward.
0:40:26 > 0:40:29It's not a feasible investment, so...
0:40:29 > 0:40:31I'm out.
0:40:31 > 0:40:32Thank you very much.
0:40:32 > 0:40:35Cheers.
0:40:35 > 0:40:39So, Dan vaults away without a Dragon investor,
0:40:39 > 0:40:43unable to avoid the perhaps inevitable fate of those who
0:40:43 > 0:40:46overprice their start-up in the Den.
0:40:46 > 0:40:48Just valuations, people base valuations, it's...
0:40:48 > 0:40:52- it's a real problem.- It just gets in the way of a proper conversation,
0:40:52 > 0:40:54- doesn't it?- I'm pretty sure we are going to get investment at the
0:40:54 > 0:40:56valuation we want. We will go on from here,
0:40:56 > 0:40:58and prove the Dragons wrong.
0:41:07 > 0:41:11Hoping for more success with the Dragons was Londoner Gemma Judd,
0:41:11 > 0:41:13who was aiming to add a splash of colour to the
0:41:13 > 0:41:16Den with her tanning accessory product.
0:41:16 > 0:41:21As a massive fan of tan in the can but not of the mess it creates,
0:41:21 > 0:41:25I've created a pop-up shield used to protect surrounding surfaces when
0:41:25 > 0:41:28spraying just your arms and legs at home.
0:41:28 > 0:41:31Touker Suleyman got an invitation he couldn't refuse.
0:41:31 > 0:41:34- Would you like to get in it? - Go on, Touks.
0:41:34 > 0:41:35- Go on, Touker.- Are you kidding me?
0:41:35 > 0:41:37- No.- No, you'd fit in whole bag!
0:41:39 > 0:41:42- OK.- Ooh.- Beautiful.- Oh, no.- Boy, does that need a tan.
0:41:42 > 0:41:44- Oh, no.- Yeah.
0:41:44 > 0:41:46- ALL:- Ooh!- Funny colour.
0:41:46 > 0:41:49- It's my colour. - Oh, is that what it is?
0:41:49 > 0:41:51THEY LAUGH
0:41:51 > 0:41:52Touker, that's not a good look.
0:41:52 > 0:41:54One of your legs looks alive.
0:41:57 > 0:42:01Having seen the colour of a Dragon's legs, Gemma was now hoping to see
0:42:01 > 0:42:05the colour of the Dragons' money and seeking £50,000 to help her launch
0:42:05 > 0:42:07her product onto the market.
0:42:07 > 0:42:10- Beautiful modelling.- Thank you.
0:42:10 > 0:42:13But Deborah Meaden soon discovered the sales figures
0:42:13 > 0:42:14were a little anaemic.
0:42:14 > 0:42:16You're looking to launch the product?
0:42:16 > 0:42:19- Yes.- So, at the moment, you've got no sales at all?
0:42:19 > 0:42:23I've sold 21, and that's to my best friends and close family members.
0:42:23 > 0:42:27- Right, OK!- But things soon took a "tan" for the worst.
0:42:27 > 0:42:30So, how many have you sold without your friends?
0:42:30 > 0:42:32Oh, four.
0:42:32 > 0:42:34Jenny Campbell had a burning issue
0:42:34 > 0:42:36with the name of the bronzing business.
0:42:36 > 0:42:39Did you have to put UK on it to trademark it?
0:42:39 > 0:42:43- Yes.- So, haven't you limited your potential for global ambitions?
0:42:43 > 0:42:44Probably, yes.
0:42:44 > 0:42:47- Oh.- I like Sprayaway UK.
0:42:47 > 0:42:50- I like Sprayaway.- Yeah.- I just wish it didn't say UK underneath.
0:42:50 > 0:42:53- Just don't read that bit. - THEY LAUGH
0:42:53 > 0:42:57Deborah Meaden had some personal experience to call on.
0:42:57 > 0:43:00I've only had a little moment of spray tan in my life,
0:43:00 > 0:43:02and that was when I was doing Strictly.
0:43:02 > 0:43:05- Oh, I heard about that.- And I suddenly became intimately familiar
0:43:05 > 0:43:07with leg make-up and arm make-up and the rest of it.
0:43:07 > 0:43:10But she still can-canned the idea.
0:43:10 > 0:43:12Well done for coming up with it.
0:43:12 > 0:43:14- Thank you.- But I don't think massive market.
0:43:14 > 0:43:17- I'm afraid I won't be investing. - Thank you.- I'm out.
0:43:17 > 0:43:21It was left to the Dragon with different coloured legs...
0:43:21 > 0:43:23- Are you dry?- I'm dry.
0:43:23 > 0:43:26..to draw a tan line under the proposal.
0:43:26 > 0:43:29You've got enthusiasm, you've got the smile,
0:43:29 > 0:43:30but you haven't really got a business.
0:43:30 > 0:43:34- Yeah.- So I'm out.- OK.
0:43:34 > 0:43:37And the tanning pitch was toast.
0:43:37 > 0:43:39It probably wasn't the best shade for Touker.
0:43:39 > 0:43:42I hope he washes it off afterwards.
0:43:46 > 0:43:50Well, the final entrepreneur tonight is firefighter Daniel Cheddie,
0:43:50 > 0:43:55here with two safety products he's created to save lives.
0:43:55 > 0:44:00But will his passion to protect be enough to attract a Dragon investor?
0:44:05 > 0:44:08When you get caught, you have to be ready to face the pressure.
0:44:08 > 0:44:12It's a life-threatening situation that I'm put into.
0:44:12 > 0:44:16Daniel's confident he'll stay calm when faced with the heat of the Den.
0:44:17 > 0:44:21Hopefully, my experience will help me today.
0:44:21 > 0:44:25After putting all my time into this for 12 years, and hopes and dreams,
0:44:25 > 0:44:28investment would be absolutely amazing.
0:44:37 > 0:44:40Hello, Dragons, my name is Daniel Cheddie.
0:44:40 > 0:44:43I'm the owner of Glazesafe Limited,
0:44:43 > 0:44:47and I'm looking for £60,000 for a 10% share of my business.
0:44:47 > 0:44:51I'd like to present to you two award-winning and health and safety
0:44:51 > 0:44:54products that I've designed for working at height.
0:44:54 > 0:44:57Firstly, the Sashmate - window repair tools.
0:44:57 > 0:45:00They're patented, trademarked and industry-recommended.
0:45:00 > 0:45:03And secondly, the Stronghold -
0:45:03 > 0:45:06mobile anchor point and barrier system.
0:45:06 > 0:45:09I've been lucky enough to be a full-time firefighter for 15 years
0:45:09 > 0:45:12now, and have been in the glazing industry ever since
0:45:12 > 0:45:14I joined the family business.
0:45:14 > 0:45:16At 19 years old, I had little experience,
0:45:16 > 0:45:21but I was still sent out to do all the window repairs alone.
0:45:21 > 0:45:24Almost all of which required scaffolds.
0:45:24 > 0:45:26Finances meant we didn't have those options,
0:45:26 > 0:45:29and so I was told to, "Stop moaning, just get the job done,
0:45:29 > 0:45:31"and bring the money back."
0:45:31 > 0:45:34After nearly falling out of windows, nearly dropping windows,
0:45:34 > 0:45:38I realised there must be something I could make to help me.
0:45:38 > 0:45:42The result was the Sashmate, and it did exactly that.
0:45:42 > 0:45:44So, following the Sashmate tools,
0:45:44 > 0:45:47a leading company was led to me with an issue they had -
0:45:47 > 0:45:50how to work around an opening at height.
0:45:50 > 0:45:53My solution is the Stronghold.
0:45:53 > 0:45:56It can be used for any work at height, for windows,
0:45:56 > 0:45:58lifts and building maintenance.
0:45:58 > 0:46:03It has helped to win one company a £1 million installation contract,
0:46:03 > 0:46:07saving their client £77,000 on scaffolds.
0:46:07 > 0:46:12The last year, I sold 75 Sashmate tools, 150 accessories,
0:46:12 > 0:46:15and eight Strongholds.
0:46:15 > 0:46:17So, I hope, like me and my customers,
0:46:17 > 0:46:19you can see the huge potential these
0:46:19 > 0:46:21products have to save a lot of lives.
0:46:21 > 0:46:23Thank you very much, Dragons.
0:46:25 > 0:46:29Hoping the Dragons will snap up his deal is Daniel Cheddie,
0:46:29 > 0:46:31with two safety products -
0:46:31 > 0:46:34one that holds a window in place during a repair,
0:46:34 > 0:46:37and the other that is designed to keep workers safe at height.
0:46:37 > 0:46:42He's asking the £60,000 in return for 10% of his company.
0:46:44 > 0:46:47First with the questions is Jenny Campbell,
0:46:47 > 0:46:51who seems baffled by Daniel's day job.
0:46:51 > 0:46:53- I heard you say that you're a full-time fireman...- I am.
0:46:53 > 0:46:56..but then also you'd been employed in the family glazing business
0:46:56 > 0:46:59since you were 19. So, which one of those is it?
0:46:59 > 0:47:01- It's everything.- So you are a full-time fireman?
0:47:01 > 0:47:05I'm a full-time firefighter and the director and designer of these
0:47:05 > 0:47:07- award-winning products.- Yeah. - I also have a glazing business.
0:47:07 > 0:47:12I specialise in repairs, so these are for me and my colleagues.
0:47:12 > 0:47:14- OK.- All full-time. - Yeah.- Unfortunately.
0:47:14 > 0:47:18- Actually, you're working 96 hours a week or something?- Yeah.
0:47:18 > 0:47:20Daniel, can I ask, how much do these cost?
0:47:20 > 0:47:25This whole set as you see it now is £2,820 currently.
0:47:25 > 0:47:27What's it costing you to make?
0:47:27 > 0:47:32That would be 1,152 with some parts that we buy in,
0:47:32 > 0:47:34some soft equipment that we buy in.
0:47:34 > 0:47:35Are we making those in the UK?
0:47:35 > 0:47:37All made locally to me.
0:47:39 > 0:47:41So far, so good,
0:47:41 > 0:47:43as Daniel reveals an unbending work ethic,
0:47:43 > 0:47:45and margin-friendly inventions.
0:47:47 > 0:47:51And it seems that Peter Jones has already pinpointed a potential route
0:47:51 > 0:47:53to success for the products.
0:47:55 > 0:47:58Daniel, I think it's a great invention,
0:47:58 > 0:48:01and clearly does what it says on the tin.
0:48:02 > 0:48:06But my first thing that hit me straightaway was that this could be
0:48:06 > 0:48:11something that you could license or put into the hire industry or HSS,
0:48:11 > 0:48:13somewhere you let somebody else do the work.
0:48:13 > 0:48:16So, I'm really glad that you've noticed that.
0:48:16 > 0:48:18This is a hire product.
0:48:18 > 0:48:20They've got the contacts already.
0:48:20 > 0:48:23It also allows them to look at the cost of manufacture,
0:48:23 > 0:48:26the fact that you own the patent, the fact that you've got everything,
0:48:26 > 0:48:29but how difficult is it to do something quite similar?
0:48:30 > 0:48:32It's not that difficult.
0:48:32 > 0:48:34I personally think it is, Peter.
0:48:34 > 0:48:36I am a designer. That's where my passion lies.
0:48:36 > 0:48:41I've tried to make it simpler and better so many times, and I can't.
0:48:41 > 0:48:43But that... That's not a good answer,
0:48:43 > 0:48:47because sadly there's also designers that will take this apart,
0:48:47 > 0:48:51and find areas where they can create something potentially better.
0:48:51 > 0:48:54I'm telling you, this is safe, because...
0:48:54 > 0:48:57- Have you got it here, your patent? - I haven't, I'm afraid.
0:48:57 > 0:49:00I've got all the other proofs of patents that I can show you.
0:49:00 > 0:49:02- See... Oh.- It's really...
0:49:02 > 0:49:04Why didn't you bring your patent?
0:49:04 > 0:49:06I thought... Sorry,
0:49:06 > 0:49:09but I did think you would want to see proof of patent.
0:49:11 > 0:49:14Daniel, I don't get why you didn't bring the patent.
0:49:17 > 0:49:19That's just introduced a bit of a stunned silence,
0:49:19 > 0:49:23particularly because Peter's idea of licencing, all...
0:49:23 > 0:49:25All, the whole value,
0:49:25 > 0:49:27will sit in that patent.
0:49:28 > 0:49:31Without this crucial piece of paperwork,
0:49:31 > 0:49:34Daniel's pitch abruptly hits the buffers.
0:49:35 > 0:49:39Will Tej Lalvani get him back on track as he turns his attention to
0:49:39 > 0:49:41the company's figures?
0:49:43 > 0:49:47Why have you only sold 75 units?
0:49:47 > 0:49:49- In the last year?- In the last year. - I just...
0:49:49 > 0:49:51I haven't focused on sales at all.
0:49:51 > 0:49:55As I say, the sales are, actually, a bonus to keep me designing,
0:49:55 > 0:49:56but I've finished designing,
0:49:56 > 0:49:59I've got these patented now and that was my ultimate goal to get...
0:49:59 > 0:50:03No, no, no. You've got this product which is great and, you know,
0:50:03 > 0:50:05it cuts the cost down. You don't need three people,
0:50:05 > 0:50:07- one person's enough.- Yeah. - It's safe.
0:50:07 > 0:50:11So, why haven't you focused on selling that and building
0:50:11 > 0:50:13- up the sales on that? - Because I was designing this.
0:50:13 > 0:50:16But now this is done, I can actually focus on the sales.
0:50:19 > 0:50:21Daniel, one question.
0:50:21 > 0:50:24- How many stock have you got? - 20 of these strongholds.
0:50:24 > 0:50:26- Yeah.- And other accessories.
0:50:26 > 0:50:29- Did you have any pre-orders? - Sorry? No, no, no.- No pre-orders?
0:50:29 > 0:50:31No. I need stock.
0:50:32 > 0:50:34So, you've got 20 of those ready to go?
0:50:34 > 0:50:36- Yeah.- But you don't have pre-sales?
0:50:36 > 0:50:40- No.- So, if I was in your shoes, I would be saying to my agents,
0:50:40 > 0:50:44"I've got this great product coming, here's the sales deal,
0:50:44 > 0:50:46"I want you to go and get pre-orders on them."
0:50:46 > 0:50:48- Yeah.- But you haven't done any of that.
0:50:48 > 0:50:50You know, you're a very, very likeable guy,
0:50:50 > 0:50:54and very investable from that perspective.
0:50:54 > 0:50:56But I'm wondering if you've got entrepreneurial freeze.
0:50:58 > 0:51:00- Are you a salesman? - I'm not a salesman, no.
0:51:00 > 0:51:03- Definitely not.- Are you saying you can't do that?
0:51:03 > 0:51:04I can. Of course, I can,
0:51:04 > 0:51:07but I've never had any sales experience at all.
0:51:10 > 0:51:15As Daniel admits to a gaping hole in his entrepreneur's toolkit,
0:51:15 > 0:51:18his hopes for investment are hanging by a thread.
0:51:19 > 0:51:23But will Deborah Meaden with her track record in building trade
0:51:23 > 0:51:27investments want to dust off her hard hat for this one?
0:51:30 > 0:51:33I'm sitting here quietly thinking, "Well, actually, licencing,
0:51:33 > 0:51:36"I can't really think about, because I haven't seen the patent."
0:51:36 > 0:51:38But the sales haven't really picked up.
0:51:38 > 0:51:40Now, I'll tell you why that worries me,
0:51:40 > 0:51:45because the construction industry is one of those spaces where if people see it and love it,
0:51:45 > 0:51:46they're going to have to have it.
0:51:46 > 0:51:49This is visual. This isn't tucked away somewhere.
0:51:49 > 0:51:51- Yeah.- This is something that people walk past and think,
0:51:51 > 0:51:53"Oh, look at that. That's brilliant.
0:51:53 > 0:51:55- "Where did you get that from?"- Yeah. - "I need one."
0:51:55 > 0:51:58What I'm worried about is there's been no sign of that.
0:51:59 > 0:52:01I'm really sorry, Daniel.
0:52:01 > 0:52:04I'm just thinking, there must be something that I've forgotten to
0:52:04 > 0:52:06tell you that will change your mind.
0:52:06 > 0:52:08And he says he's not a salesman.
0:52:08 > 0:52:10- He's very persuasive.- He says he's not a salesman.
0:52:10 > 0:52:13- He is very persuasive.- I'm just talking from the heart, honestly.
0:52:13 > 0:52:17- Yeah.- I think the fact that this has saved one company two million on
0:52:17 > 0:52:20scaffold, it's won them a ten-year contract.
0:52:20 > 0:52:24They had five blocks of flats, 24 stories each,
0:52:24 > 0:52:27and they had to update every single opener,
0:52:27 > 0:52:29and everything was safe without scaffold.
0:52:29 > 0:52:31You've stopped me saying those two words.
0:52:31 > 0:52:35- I'm not saying I won't say them in a minute.- No, no, fair enough. - But I'm going to go quiet.
0:52:35 > 0:52:38I'm glad I've kept you going a little bit longer.
0:52:38 > 0:52:42By summoning up all his inner salesman,
0:52:42 > 0:52:45Daniel douses the Dragons' flames of doubt for now.
0:52:45 > 0:52:48Has he swung into action just in time
0:52:48 > 0:52:53to inspire an investment from Peter Jones?
0:52:53 > 0:52:55Daniel, it's a great product.
0:52:56 > 0:53:00But I sit here in this chair to look for people that I can invest in and
0:53:00 > 0:53:03businesses I can get behind and look to where I can help,
0:53:03 > 0:53:06where I can add value, and at the same time, think, "Right,
0:53:06 > 0:53:08"where's the future of this business?"
0:53:12 > 0:53:14And I don't see the business.
0:53:17 > 0:53:21I genuinely believe that you should license this to people that will do
0:53:21 > 0:53:23a really good job for you,
0:53:23 > 0:53:27so, sadly, I'm going to tell you that I'm out.
0:53:29 > 0:53:33Peter Jones struggles to get fired up by the deal,
0:53:33 > 0:53:36and is the first Dragon to head for the exit.
0:53:37 > 0:53:40And Tej Lalvani is ready to have his say.
0:53:42 > 0:53:44When I want to invest in a company,
0:53:44 > 0:53:47I need to be excited about the product, obviously.
0:53:50 > 0:53:52For some reason, it doesn't excite me.
0:53:56 > 0:53:59The other aspect is the number of sales you've done is a bit concerning.
0:54:01 > 0:54:03So, I wish you the best, but I'm out.
0:54:05 > 0:54:10Daniel, your pitch, your explanation,
0:54:10 > 0:54:12all the patents you've got,
0:54:12 > 0:54:16you're miles and miles ahead of anybody I've seen for a while.
0:54:18 > 0:54:21Would you say that...
0:54:21 > 0:54:24if I wanted to invest, it would be a punt?
0:54:24 > 0:54:26On 60,000, it would be a punt.
0:54:28 > 0:54:29I'll make you an offer.
0:54:29 > 0:54:31OK.
0:54:31 > 0:54:32Far half the money,
0:54:32 > 0:54:34but I want 20%.
0:54:34 > 0:54:38So, if one of the other Dragons wants to come in with me, it is a punt.
0:54:40 > 0:54:43Catching the Den by surprise,
0:54:43 > 0:54:47Touker Suleyman throws Daniel a safety net in the form of an offer,
0:54:47 > 0:54:52but for only half the money and even that at twice the total equity the
0:54:52 > 0:54:55entrepreneur wanted to give away.
0:54:55 > 0:54:57Will Deborah Meaden,
0:54:57 > 0:55:00who was earlier pulled back from the point of no return,
0:55:00 > 0:55:02also see a window of opportunity?
0:55:02 > 0:55:06Daniel, my gut instinct is telling me, there's a market,
0:55:06 > 0:55:08it's just not huge,
0:55:08 > 0:55:11and the fact that enough people in the construction industry have seen
0:55:11 > 0:55:13this by now, I should have heard about it.
0:55:14 > 0:55:16I should have heard it in the bars.
0:55:16 > 0:55:18Somebody should have been telling me about it.
0:55:18 > 0:55:22So, I'm really sorry, really sorry, but I won't be investing, Daniel.
0:55:22 > 0:55:23- I'm out.- Thank you, Deborah.
0:55:25 > 0:55:28As Deborah Meaden ditches the deal,
0:55:28 > 0:55:33Daniel's prospects hinge on Jenny Campbell -
0:55:33 > 0:55:37either matching Touker Suleyman with half the money for 20%
0:55:37 > 0:55:40or making a rival bid of her own.
0:55:42 > 0:55:46I'm musing over, you know, has this product got legs?
0:55:46 > 0:55:47Is it going to take off?
0:55:49 > 0:55:51But it is a bit of a leap in the dark,
0:55:51 > 0:55:54and you do need some help on the commercial side.
0:55:54 > 0:55:57- Yeah.- And part of me is going, "No, just don't do this," you know.
0:55:59 > 0:56:02But there's also a bigger part saying,
0:56:02 > 0:56:04"Why don't we give this a go?"
0:56:06 > 0:56:09I think we can do something with this.
0:56:14 > 0:56:16So I will offer you half the money
0:56:16 > 0:56:18for 10%.
0:56:19 > 0:56:21OK.
0:56:23 > 0:56:27Touker, is there any room for negotiation on that?
0:56:27 > 0:56:29OK.
0:56:29 > 0:56:31You deserve a break.
0:56:32 > 0:56:35And I will budge on my 20%...
0:56:37 > 0:56:38..but it will be 15.
0:56:41 > 0:56:44My revised offer would be to match that.
0:56:47 > 0:56:50Now the two Dragons who have made offers
0:56:50 > 0:56:52are in sync with their equity bids.
0:56:52 > 0:56:55But as they want 30% of the company,
0:56:55 > 0:56:57Daniel has a tough decision to make.
0:56:57 > 0:57:01Could you reduce the percentage to 12% each?
0:57:08 > 0:57:11It's a punt.
0:57:11 > 0:57:12It is.
0:57:17 > 0:57:18OK. I accept your deal.
0:57:18 > 0:57:20- Great.- Super.
0:57:20 > 0:57:21- Fantastic.- Thank you.
0:57:21 > 0:57:23Thank you very much.
0:57:25 > 0:57:27- Thank you, all.- Well done. - Well done, Daniel.
0:57:27 > 0:57:30- Congratulations. Good luck. - Thank you. See you.
0:57:30 > 0:57:34After a bumpy ride in the Den, Daniel eventually triumphs,
0:57:34 > 0:57:39and secures the backing of two top-notch Dragons.
0:57:39 > 0:57:42I'm really excited about the future,
0:57:42 > 0:57:45to see these products all over the world, save some lives.
0:57:45 > 0:57:47It feels amazing.
0:57:47 > 0:57:50And then maybe send a letter to Peter and Deborah to say,
0:57:50 > 0:57:52"Ha-ha, you missed out."
0:57:58 > 0:58:01The Den has always attracted a rich variety of businesses,
0:58:01 > 0:58:05and never more than tonight where we've had somersaults,
0:58:05 > 0:58:09stunts and smoothies, which unfortunately didn't do the trick.
0:58:09 > 0:58:12Ultimately, it's the people and the product that really capture the
0:58:12 > 0:58:14Dragons' attention, and Poppy the dog,
0:58:14 > 0:58:18and firemen Daniel Cheddie proved that perfectly,
0:58:18 > 0:58:20as they walked away with investment.
0:58:22 > 0:58:24Coming up next time...
0:58:24 > 0:58:25Right now,
0:58:25 > 0:58:30you have absolutely no negotiating tools in here whatsoever.
0:58:30 > 0:58:34You've made it impossible to invest.
0:58:34 > 0:58:36That feels like spray and pray to me,
0:58:36 > 0:58:38and you need to pray at the moment.
0:58:38 > 0:58:41That's not good news. You need to be a little bit less greedy and start
0:58:41 > 0:58:43- sharing.- This is a bit of a mess.
0:58:43 > 0:58:47Enthusiasm, passion, drive, you've got it.
0:58:47 > 0:58:49I think you've got a chance here.
0:58:49 > 0:58:52- They loved us, didn't they? - They did, yeah.