0:00:25 > 0:00:27These are the Dragons,
0:00:27 > 0:00:31five of Britain's wealthiest and most enterprising business leaders.
0:00:31 > 0:00:34Over the next ten weeks,
0:00:34 > 0:00:39they'll make or break the dreams of dozens of budding entrepreneurs.
0:00:40 > 0:00:43I think this is a terrible, terrible, terrible idea.
0:00:43 > 0:00:44It's horrible!
0:00:44 > 0:00:47You need to think through...
0:00:49 > 0:00:50..your attitude.
0:00:50 > 0:00:52How ridiculous of you to come and stand here
0:00:52 > 0:00:56and pitch to investors when you haven't got that information.
0:00:56 > 0:00:59Good product, but a great product doesn't make a business.
0:00:59 > 0:01:01Erm...
0:01:02 > 0:01:04..I am going to make you an offer.
0:01:07 > 0:01:10The multimillionaire investors have each built up
0:01:10 > 0:01:14their fortunes from scratch...
0:01:15 > 0:01:18..hotel and health-club owner Duncan Bannatyne...
0:01:18 > 0:01:20leisure-industry expert Deborah Meaden...
0:01:22 > 0:01:24..retail magnate Theo Paphitis...
0:01:26 > 0:01:28..telecoms giant Peter Jones...
0:01:28 > 0:01:31and new Dragon Hilary Devey,
0:01:31 > 0:01:33who made her millions in the haulage industry.
0:01:33 > 0:01:37The Dragons have the credentials, the contacts, the commitment
0:01:37 > 0:01:40and the cash ready to invest,
0:01:40 > 0:01:42but only in the right business.
0:01:42 > 0:01:44Will any of these hopeful entrepreneurs
0:01:44 > 0:01:46walk away with their money?
0:01:54 > 0:01:56Welcome back to the Dragons' Den.
0:01:56 > 0:01:59The doors are once again open for business,
0:01:59 > 0:02:03and this year, we welcome formidable businesswoman and self-made multimillionaire
0:02:03 > 0:02:08Hilary Devey, who takes her place in one of those five infamous chairs.
0:02:08 > 0:02:12The line-up may have changed, but as ever, the rules remain the same.
0:02:12 > 0:02:16Entrepreneurs face intense scrutiny in trying to persuade the Dragons
0:02:16 > 0:02:18to invest in their business.
0:02:18 > 0:02:21Only the very best will succeed.
0:02:21 > 0:02:25Mum-of-three Georgette Hewitt from Kent is first into the Den,
0:02:25 > 0:02:26hoping to convince the Dragons
0:02:26 > 0:02:30her online venture has money-making potential.
0:02:54 > 0:02:58Hello. My name is Georgette Hewitt, and I'm here today
0:02:58 > 0:03:05to ask for £60,000 in exchange for 20% of my company, the Present Club.
0:03:05 > 0:03:08The Present Club is an online toy shop,
0:03:08 > 0:03:12but with a twist, as it's the first ever children's website
0:03:12 > 0:03:15to take contributions towards children's presents.
0:03:18 > 0:03:21The website treats children to an online experience,
0:03:21 > 0:03:25empowering them to create their very own web page, cut in themselves...
0:03:25 > 0:03:28Oh, sorry.
0:03:28 > 0:03:30Erm...
0:03:36 > 0:03:40OK. Sorry, there's 5,000 toys and games that children can choose from.
0:03:42 > 0:03:43Ohhh...
0:03:56 > 0:04:01Children can choose from... Ohhh... I'm sorry. Please can I start again?
0:04:01 > 0:04:03I'm sorry.
0:04:03 > 0:04:05- HILARY:- You're doing OK. Carry on.
0:04:05 > 0:04:08You're doing OK. Tell us.
0:04:08 > 0:04:10Well, the website, erm...
0:04:10 > 0:04:14Basically, I've got, erm, around 2,500 suppliers,
0:04:14 > 0:04:18er, 25 suppliers, erm...
0:04:18 > 0:04:20Oh, I'm sorry, I can't. I'm sorry.
0:04:20 > 0:04:22I've completely lost it.
0:04:22 > 0:04:23I'm sorry.
0:04:32 > 0:04:35It's a daunting prospect, pitching to the Dragons
0:04:35 > 0:04:39and one that has clearly got the better of 34-year-old Georgette Hewitt.
0:04:39 > 0:04:45She might be seeking £60,000 in return for a 20% equity stake,
0:04:45 > 0:04:47but do the multimillionaire investors
0:04:47 > 0:04:50have enough information to assess her website?
0:04:50 > 0:04:54Peter Jones is first to interrogate the shaken entrepreneur.
0:04:55 > 0:04:59Georgette, your presentation was appalling.
0:05:00 > 0:05:02Your first part of the pitch,
0:05:02 > 0:05:05we kind of got what the club's all about.
0:05:05 > 0:05:10- It's a kind of wedding-list gift for kids' birthdays.- It is indeed, yeah.
0:05:10 > 0:05:14You mentioned 2,500 suppliers, then you got stressed and said 25.
0:05:14 > 0:05:16- It's 25 suppliers. - Those 25 suppliers,
0:05:16 > 0:05:19they allow you to put their stock up on the website.
0:05:19 > 0:05:21You don't have to buy an inventory or hold stock?
0:05:21 > 0:05:22No, I don't hold anything.
0:05:22 > 0:05:26I've teamed up with one of the largest independent toy retailers,
0:05:26 > 0:05:28called the Entertainer,
0:05:28 > 0:05:31because they drop-ship 1,500 of the products that I sell
0:05:31 > 0:05:35- to my customers.- What margin do you get?- A start-off commission of 6%.
0:05:35 > 0:05:37- Six?- Six, yeah.
0:05:37 > 0:05:42- So why have you done a deal at 6%? - Because the larger products
0:05:42 > 0:05:46they don't mind drop-shipping, but it's the smaller products
0:05:46 > 0:05:50that come in multiple packs they won't direct dispatch, so...
0:05:50 > 0:05:55- So we're not confused, what are you classing as direct dispatch and drop-ship?- Same thing.
0:05:55 > 0:05:59- Yeah. So why are you distinguishing between the two?- Did I?- Yeah.
0:06:04 > 0:06:08A rather faltering opening exchange from the fledgling businesswoman.
0:06:08 > 0:06:11Deborah Meaden tries a different tack.
0:06:14 > 0:06:19Georgette, can I ask you about the functionality of the website? How complicated is the site?
0:06:19 > 0:06:20It's really simple.
0:06:20 > 0:06:24There's just a contribution box. We can probably see it here, actually.
0:06:24 > 0:06:28They just key in next to the products.
0:06:28 > 0:06:30The piggy gets more smiley,
0:06:30 > 0:06:33and then you can leave a message saying happy birthday, whatever.
0:06:33 > 0:06:36- Was this built from scratch, this site?- It was, yeah.
0:06:36 > 0:06:37I had it commissioned.
0:06:37 > 0:06:41- So you actually own the source code to the site?- I don't own it,
0:06:41 > 0:06:46because it uses the website developers' proprietary software,
0:06:46 > 0:06:50but I could take the website, host it with another server, I...
0:06:50 > 0:06:52Not if you've not got the source code.
0:06:52 > 0:06:56- Yeah, I have actually asked. - What language is it written in?
0:06:58 > 0:07:00Ooh... I don't know. Sorry. Erm...
0:07:00 > 0:07:05Yeah. I mean, my big worry is what do you own, other than a name?
0:07:05 > 0:07:09I think because I can take the, erm, the...
0:07:09 > 0:07:13But without that website, you haven't got a business.
0:07:18 > 0:07:22First, question marks over her business abilities,
0:07:22 > 0:07:25and now concerns about the business itself.
0:07:25 > 0:07:28Duncan Bannatyne is not looking impressed.
0:07:30 > 0:07:35- Almost every week, my children go to parties, and they take a little present.- Mm-hm.
0:07:35 > 0:07:39And the excitement of buying the present and wrapping it up to take with them,
0:07:39 > 0:07:43and then the friend presumably opens it after the party
0:07:43 > 0:07:46and they see the different presents and who it's from.
0:07:46 > 0:07:50You're saying that instead of buying a present and wrapping it,
0:07:50 > 0:07:52you go to a computer and you click £10.
0:07:52 > 0:07:57I think we might as well just forget about Santa Claus,
0:07:57 > 0:08:00let's forget about Christmas - 25th December, just press a button
0:08:00 > 0:08:02on the internet and get your presents?
0:08:02 > 0:08:07But I think that it's the wording on the poem on the invitation,
0:08:07 > 0:08:12it just says it nicely - "Don't buy me a present. If you want to, there's something great..."
0:08:12 > 0:08:16It doesn't matter how nice it says it. It says, "Don't buy me a present,
0:08:16 > 0:08:18"chip in for a bike."
0:08:18 > 0:08:23I think this is a terrible, terrible, terrible idea. It's horrible.
0:08:23 > 0:08:25- And I'm out.- OK. Thank you.
0:08:27 > 0:08:32Georgette's first blow is delivered by Duncan Bannatyne.
0:08:32 > 0:08:36And Deborah Meaden seems to have made up her mind, too.
0:08:36 > 0:08:41Georgette, I find myself invested in quite a few web-based businesses,
0:08:41 > 0:08:45and without exception,
0:08:45 > 0:08:51the big issue that we've had is not about driving customers to the site,
0:08:51 > 0:08:54because we can drive customers to the site,
0:08:54 > 0:08:58it's the site handling those customers.
0:08:58 > 0:09:00There's a lot to website structure
0:09:00 > 0:09:03that can make it work or make it not work.
0:09:03 > 0:09:07- Mm-hm.- So what I'm saying is I don't think you're going to be able
0:09:07 > 0:09:12to technically explain to me why it's OK and why it's robust enough.
0:09:12 > 0:09:15No, you're probably right. I don't think I could!
0:09:15 > 0:09:17For that reason, Georgette, I'm out.
0:09:19 > 0:09:21Two Dragons out,
0:09:21 > 0:09:25and it looks as though Georgette won't be spending long in the Den.
0:09:25 > 0:09:27But has technology guru Peter Jones
0:09:27 > 0:09:30spotted something his rival investors have missed?
0:09:33 > 0:09:35Georgette...
0:09:36 > 0:09:37..I think that...
0:09:37 > 0:09:42the business and the concept and concerns over the web,
0:09:42 > 0:09:45all those things are actually easily dealt with.
0:09:48 > 0:09:51How many people have you got coming to the site? How many?
0:09:51 > 0:09:58I have about 200 hits a day, 5,500 unique visitors a month.
0:09:58 > 0:10:03I've got 2,000 wish lists. Of that, about 700 that are active.
0:10:03 > 0:10:07Do you know in the last 12 months the total value of sales?
0:10:07 > 0:10:08Basically, 60,000 turnover.
0:10:10 > 0:10:14- And you own the URL thepresentclub.com?- Yeah.
0:10:14 > 0:10:16And .co.uk is in your name? OK.
0:10:17 > 0:10:22- Were they just available? Did you have to buy them?- The .co.uk was,
0:10:22 > 0:10:27and then .com wasn't, and I just searched every few months,
0:10:27 > 0:10:30and then it just came available, so I bought it!
0:10:30 > 0:10:32- How much did you pay for it?- £20.
0:10:36 > 0:10:39What were you doing beforehand?
0:10:39 > 0:10:41I left school at 15, after my GCSEs,
0:10:41 > 0:10:44and I got a job on the futures exchange in the City.
0:10:44 > 0:10:47I was a trading assistant for a couple of years, a yellow jacket,
0:10:47 > 0:10:51and then I took my trading exams at 18,
0:10:51 > 0:10:55and I became the youngest female trader on the futures floor.
0:10:55 > 0:10:57So I did that for about 15 years,
0:10:57 > 0:11:01and then I left to have my first daughter.
0:11:05 > 0:11:08At last a much more confident Georgette as she reveals
0:11:08 > 0:11:12a credible background and the mindset of an entrepreneur.
0:11:12 > 0:11:16But is it enough for retail giant Theo Paphitis?
0:11:16 > 0:11:19- I like the concept.- Thank you.
0:11:19 > 0:11:22- I think it's a great concept.- Mm-hm.
0:11:22 > 0:11:25And I think the name's great, as well.
0:11:27 > 0:11:28It's just a great idea.
0:11:28 > 0:11:31But I don't actually believe
0:11:31 > 0:11:34that the £60,000 is going to be enough.
0:11:39 > 0:11:41And that's my concern.
0:11:44 > 0:11:45Right, OK.
0:11:47 > 0:11:49But...
0:11:51 > 0:11:54..I would like to make you an offer.
0:11:56 > 0:11:58The full £60,000...
0:12:00 > 0:12:02for 30%.
0:12:02 > 0:12:04OK.
0:12:04 > 0:12:06Thank you.
0:12:06 > 0:12:10In an astonishing turnaround, Theo Paphitis has seen
0:12:10 > 0:12:15enough potential in Georgette's business to make an offer.
0:12:15 > 0:12:17Now, with two Dragons left,
0:12:17 > 0:12:20will the former City trader be able to negotiate herself a deal
0:12:20 > 0:12:24closer to the 20% she initially wanted to give away?
0:12:27 > 0:12:31Theo's offered an incredible deal at 30%.
0:12:34 > 0:12:36So...
0:12:38 > 0:12:41..I'm going to offer the full amount of money..
0:12:44 > 0:12:46..for 25% of your business.
0:12:46 > 0:12:48OK.
0:12:53 > 0:12:55The drama in the Den continues
0:12:55 > 0:12:59as Peter Jones undercuts his rival investor.
0:12:59 > 0:13:02Will Hilary Devey make it three offers in a row?
0:13:06 > 0:13:08Georgette...
0:13:10 > 0:13:13..I believe in the concept, because, God's sake,
0:13:13 > 0:13:16I was a single parent, and it was damned hard work
0:13:16 > 0:13:18chasing round at the 11th hour 59th minute
0:13:18 > 0:13:22trying to get presents together to send him to a birthday party,
0:13:22 > 0:13:24- so I'm with you all the way.- Yeah. - Erm...
0:13:26 > 0:13:29..I'm really, really tempted, because I think
0:13:29 > 0:13:33yes, your pitch was awful, but I actually think you sell yourself.
0:13:33 > 0:13:35Oh, thank you.
0:13:36 > 0:13:38But...
0:13:38 > 0:13:42..I don't think I can improve on what Peter and Theo are offering.
0:13:44 > 0:13:47- But well done.- Thank you. - Unfortunately, I'm out.- Thank you.
0:13:50 > 0:13:54OK, would Peter and Theo maybe think about doing something together?
0:13:59 > 0:14:01Perhaps if you, erm...
0:14:01 > 0:14:04offered me...
0:14:04 > 0:14:0660,000...
0:14:06 > 0:14:09and 25% between you?
0:14:22 > 0:14:27OK. I'd be quite happy to share 30% with him, if that's what he wanted,
0:14:27 > 0:14:30but 12.5% each, I couldn't live with that.
0:14:37 > 0:14:39I would.
0:14:39 > 0:14:41I would split it with Theo, 30%.
0:14:41 > 0:14:45And then you've got both of us...
0:14:45 > 0:14:47- Both Dragons.- ..on your team.
0:14:52 > 0:14:54OK.
0:14:54 > 0:14:58OK, on that basis, I'd like to work for...work with you both.
0:14:58 > 0:15:01- Well, there you go! - Congratulations!- Thank you!
0:15:01 > 0:15:03- Thank you!- Well done.
0:15:03 > 0:15:07Georgette has done it. It may not have been the best of starts,
0:15:07 > 0:15:13but she now has both a retail guru and a technology expert by her side.
0:15:14 > 0:15:18- Do you not love the name? - I can't believe she's got the .com.
0:15:21 > 0:15:25So, Georgette, 30% of the business has been taken from you,
0:15:25 > 0:15:27but you've got cash for it. Are you feeling happy?
0:15:27 > 0:15:28I feel over the moon.
0:15:28 > 0:15:31I thought it was going to just turn out to be a disaster.
0:15:31 > 0:15:34What had gone wrong there? You must have practised.
0:15:34 > 0:15:38I'd practised loads, but I think the nerves got the better of me.
0:15:38 > 0:15:41But thankfully, they saw the vision in the business
0:15:41 > 0:15:44despite me actually not telling them anything about it!
0:15:44 > 0:15:47- Well done, and very good luck. - Thank you.
0:15:55 > 0:15:59The Dragons never know who or what will be coming up the stairs next.
0:15:59 > 0:16:04Former software engineer George Winter wanted £50,000
0:16:04 > 0:16:06for his toilet-based product that eliminates
0:16:06 > 0:16:09a common but unfortunate side effect.
0:16:09 > 0:16:11Ever since the invention of the first modern toilet,
0:16:11 > 0:16:15people have been trying to come up with ideas to prevent splashback.
0:16:15 > 0:16:18- LAUGHTER - Did you just say "splashback"?
0:16:18 > 0:16:21I believe the best solution is the simplest solution,
0:16:21 > 0:16:26so I've invented Egglu, the anti-splash ball.
0:16:26 > 0:16:30- I was just going to do a demonstration.- Oh, no! No!
0:16:32 > 0:16:35Thank you, thank you, Peter!
0:16:35 > 0:16:41In a bid to spare Dragon blushes, George had instead brought along some props to help set the scene.
0:16:41 > 0:16:44First, we do one without the ball. You get splashback.
0:16:44 > 0:16:46With the Egglu...
0:16:47 > 0:16:50- ..there's no splashback. - I feel sick.
0:16:50 > 0:16:53Peter Jones couldn't quite grasp
0:16:53 > 0:16:57the science of this particular appliance.
0:16:57 > 0:16:59It's a plastic ball you put in the toilet
0:16:59 > 0:17:02and it goes the other side of the ball. It's still going to splash.
0:17:02 > 0:17:06No, it automatically moves over to wherever the...
0:17:06 > 0:17:10- What, so it moves to head off the... - It moves to where there's a vacuum.
0:17:12 > 0:17:15- It's displacement. - It's displacement, yeah.
0:17:15 > 0:17:19George, I do not want to be in a business
0:17:19 > 0:17:23where we have to have the discussions that we've just been talking about.
0:17:23 > 0:17:27- Where there's muck, there's luck. - I don't care.
0:17:27 > 0:17:28Despite the prevailing mood,
0:17:28 > 0:17:33the newest Dragon did provide some words of encouragement.
0:17:33 > 0:17:34I'm not laughing at you,
0:17:34 > 0:17:38cos I don't laugh at anybody that thinks of a solution to a problem.
0:17:38 > 0:17:41Millions and millions of toilet perfume dispensers
0:17:41 > 0:17:42are sold every week,
0:17:42 > 0:17:45and maybe there's a way you could make it perfumed,
0:17:45 > 0:17:47where it was dual purpose.
0:17:47 > 0:17:52Regrettably, I can't see myself investing in it currently. I'm out.
0:17:52 > 0:17:53George, good luck.
0:17:57 > 0:18:00The Dragons are investing their own money in the Den,
0:18:00 > 0:18:03so it's no wonder the questions are tough.
0:18:03 > 0:18:06Will our next entrepreneur have the right answers?
0:18:36 > 0:18:41Hello, Dragons. I'm Alan, and I'm here today...
0:18:41 > 0:18:44looking for £100,000...
0:18:44 > 0:18:47for a 10% stake in my business,
0:18:47 > 0:18:49Miruji Health and Wellbeing,
0:18:49 > 0:18:56which has the potential to help to solve the obesity epidemic.
0:18:56 > 0:18:58In the last 12 months,
0:18:58 > 0:19:00we've helped over 500 people
0:19:00 > 0:19:03achieve significant weight loss,
0:19:03 > 0:19:05an increase in self-esteem,
0:19:05 > 0:19:09and they have a much more positive attitude to life.
0:19:09 > 0:19:14The Sit and Slim programme combines the health benefits of massage...
0:19:15 > 0:19:20..with powerful mind-coaching audios.
0:19:20 > 0:19:24We also have Sit and Quit for smoking cessation,
0:19:24 > 0:19:29Sit and De-Stress, Sit and Be Happy and Sit and Sleep.
0:19:29 > 0:19:31We've got a special audio for you Dragons.
0:19:31 > 0:19:35It's called Sit and Invest In Me.
0:19:35 > 0:19:37Come on, then.
0:19:38 > 0:19:43- Just pop your shoes off.- Grand claims from the confident Lancastrian.
0:19:43 > 0:19:46By showcasing his mind-coaching massage service,
0:19:46 > 0:19:48Alan Sharrock is hoping the Dragons
0:19:48 > 0:19:51will be more likely to offer up the £100,000
0:19:51 > 0:19:54he needs to expand his health brand.
0:19:54 > 0:19:59In return, he's willing to give away a 10% stake.
0:19:59 > 0:20:02So, I'm going to pop the headphones on,
0:20:02 > 0:20:06and Theo's going to go on a little journey to Miruji Beach...
0:20:07 > 0:20:09..the world's most relaxing place.
0:20:13 > 0:20:17- RELAXING VOICE:- 'As the door is swung open to your beautiful room,
0:20:17 > 0:20:24'you think to yourself, "Wow, this is really happening to me."'
0:20:24 > 0:20:28Theo's now on Miruji Beach...
0:20:30 > 0:20:36..enjoying the seven-star Miruji spa hotel.
0:20:36 > 0:20:39Is Theo still alive?! Could you just check Theo?
0:20:39 > 0:20:42- SHE LAUGHS - He's enjoying it. He's losing weight.
0:20:44 > 0:20:47That's it, Theo. That's it. No more. Stop.
0:20:53 > 0:20:56Alan's relaxing taster session may have proved a hit,
0:20:56 > 0:20:59but what of the business behind it?
0:20:59 > 0:21:01Theo Paphitis wants to know.
0:21:03 > 0:21:08Alan, all's I can see at the moment is a nice massage chair...
0:21:09 > 0:21:13..and I'm not sure what you're offering me.
0:21:13 > 0:21:15The business is...
0:21:15 > 0:21:19setting up Miruji...health spas
0:21:19 > 0:21:22in health clubs and on the high street.
0:21:22 > 0:21:25That business must make a small fortune already,
0:21:25 > 0:21:28because you've valued it at a million quid.
0:21:28 > 0:21:30How much turnover does it make?
0:21:30 > 0:21:32In the last 12 months,
0:21:32 > 0:21:37- 195 with a profit of around about 45,000.- OK.
0:21:37 > 0:21:39What do you reckon you're going to do this year?
0:21:41 > 0:21:44Erm, with your investment? With an investment?
0:21:44 > 0:21:46OK, with an investment.
0:21:46 > 0:21:48You wish.
0:21:48 > 0:21:50With an investment, erm...
0:21:59 > 0:22:03- ..a few million, yeah.- Are you making it up as we go along?- No, no, no.
0:22:03 > 0:22:08No. No! Erm, it could be five million.
0:22:08 > 0:22:13- Are we going to make a profit out of that five million? - Erm, approximately 50%.
0:22:13 > 0:22:1750%. OK. I've now only got one more question.
0:22:17 > 0:22:21- OK.- Have you got any clinically proven medical claims
0:22:21 > 0:22:25that these chairs...
0:22:25 > 0:22:27make you lose weight?
0:22:29 > 0:22:31- We're actually trialling it in an NHS hospital.- OK.
0:22:31 > 0:22:35The answer is either yes or no. I mean, it's that simple.
0:22:35 > 0:22:38Yes, there is. We've got a trial taking place at this...
0:22:38 > 0:22:39You've got a trial.
0:22:39 > 0:22:44- ..in an NHS hospital.- Alan? - Yes, Theo?- You've got a trial.
0:22:44 > 0:22:48There's no claims that anyone's ever made that you lose weight.
0:22:48 > 0:22:50- Yes.- There is?
0:22:50 > 0:22:55The NHS hospital in Norwich is doing a trial of Sit and Slim.
0:22:55 > 0:22:59- Yeah. OK.- It's early days.- All right...- Please let me finish, Theo.
0:22:59 > 0:23:02- No, I'm not going to let you finish unless you answer my question.- I am!
0:23:02 > 0:23:05The first question, I'm going to repeat it again.
0:23:05 > 0:23:11Are you aware of any clinically proven claims...
0:23:12 > 0:23:18..that sitting in these chairs makes you lose weight?
0:23:18 > 0:23:22- No.- Right! That's what I was looking for.
0:23:22 > 0:23:25- This is painful.- Sorry.
0:23:29 > 0:23:32A somewhat tetchy opening exchange,
0:23:32 > 0:23:35and not the start Alan would have hoped for.
0:23:35 > 0:23:38Can Deborah Meaden offer him any respite?
0:23:39 > 0:23:43I want to get some business facts, because I'm a little bit confused.
0:23:43 > 0:23:46- At the moment, you've got sites operating.- Yes.
0:23:46 > 0:23:48And they are generating revenue?
0:23:48 > 0:23:51- Erm, the first site opened just over 12 months ago.- Yep.
0:23:51 > 0:23:53And that one has generated...
0:23:53 > 0:23:58- erm, about £200,000 in sales.- OK.
0:23:58 > 0:24:03Ooh, hold on. Erm, what was your turnover last year, then?
0:24:03 > 0:24:08Well, the money banked last year was 195.
0:24:08 > 0:24:13Yeah? But when we sell a Miruji membership,
0:24:13 > 0:24:15it's a 12-month membership,
0:24:15 > 0:24:18so that money comes in over a 12-month period.
0:24:18 > 0:24:22So at the moment, you've got £200,000 worth of membership.
0:24:22 > 0:24:25- In that one site.- Yeah. OK.
0:24:25 > 0:24:31And the average membership costs £620.
0:24:32 > 0:24:35Sorry, how many members in your first one?
0:24:35 > 0:24:37- Approximately 450.- OK.
0:24:37 > 0:24:40How does it work with 450 members
0:24:40 > 0:24:43generating £200,000 worth of membership?
0:24:43 > 0:24:46Some of those presumably are paying at a discounted rate.
0:24:47 > 0:24:53No, no. Obviously, I didn't explain...
0:24:53 > 0:24:55the situation clearly enough.
0:24:55 > 0:24:59- When we started, the memberships were less.- How much were they?
0:24:59 > 0:25:03The average membership now is 620, and over the last 12 months
0:25:03 > 0:25:09the average membership has crept up from, I would say, about 300.
0:25:09 > 0:25:14So how many of those 450 members pay £300?
0:25:14 > 0:25:15Erm...
0:25:15 > 0:25:18the memberships that we're selling now
0:25:18 > 0:25:21and have been doing for the last two to three months
0:25:21 > 0:25:24on average are £620.
0:25:24 > 0:25:27OK. How does that answer my question,
0:25:27 > 0:25:29"How many of those memberships were sold at £300?"?
0:25:29 > 0:25:33You have this peculiar way of answering another question
0:25:33 > 0:25:36that I haven't asked, which I'm finding slightly frustrating.
0:25:36 > 0:25:40How many memberships were sold at £300?
0:25:40 > 0:25:42Erm, I don't know.
0:25:47 > 0:25:49Is that why you answered a question I didn't ask?
0:25:52 > 0:25:56The relaxed atmosphere is long gone
0:25:56 > 0:25:59as a more tense and confused air has taken over in the Den.
0:26:01 > 0:26:04Can Alan afford Hilary Devey any more clarity?
0:26:06 > 0:26:08- Erm, Alan...- Yes?
0:26:08 > 0:26:12Out of your 500 members that you have,
0:26:12 > 0:26:14how long have they been members?
0:26:14 > 0:26:16And Duncan can quote
0:26:16 > 0:26:20how many times his members go to his gyms every week,
0:26:20 > 0:26:23so you tell me, out of your 500 members,
0:26:23 > 0:26:25how many attend per week?
0:26:27 > 0:26:31- And then tell me how many should. - I don't have that information, Hilary.
0:26:31 > 0:26:34Well, how ridiculous of you to come and stand here
0:26:34 > 0:26:37and pitch to investors when you haven't got that information,
0:26:37 > 0:26:41because, by God, man, it's your job to have that information.
0:26:41 > 0:26:46I still have not got a clue how your turnover's broken down,
0:26:46 > 0:26:48the state of your balance sheet at the moment.
0:26:48 > 0:26:51You are talking to potential investors in your business.
0:26:51 > 0:26:55It was your job to come on here and make us aware.
0:26:55 > 0:26:59- Forget the Miruji experience - we're on planet earth, in Dragons' Den.- OK.
0:26:59 > 0:27:02You would make my foot itch, mate.
0:27:02 > 0:27:05I'm not amused. I'm angry.
0:27:05 > 0:27:07I'm out.
0:27:11 > 0:27:15The frustration boils over as the beleaguered entrepreneur
0:27:15 > 0:27:18receives a severe dressing-down from Hilary Devey.
0:27:18 > 0:27:22And Duncan Bannatyne, who knows the health sector well,
0:27:22 > 0:27:24wants some answers of his own.
0:27:25 > 0:27:28- Alan...- Yes?- I just don't get it.
0:27:28 > 0:27:32Are you selling this...
0:27:32 > 0:27:35as a solver for obesity?
0:27:37 > 0:27:40Erm, our Sit and Slim programme, erm...
0:27:40 > 0:27:44Can I just ask you the one thing, Alan? Say yes or no.
0:27:44 > 0:27:49Am I selling this as a solution for the obesity problem?
0:27:51 > 0:27:53Yes, I suppose I am.
0:27:53 > 0:27:58A lot of our members are losing up to four stone in weight
0:27:58 > 0:28:02simply by using the therapeutic wellbeing chair
0:28:02 > 0:28:05and listening to the mind-coaching audio.
0:28:06 > 0:28:10So somebody pays you money to sit in a chair,
0:28:10 > 0:28:13and when they sit in the chair, the voice on the audio tells them
0:28:13 > 0:28:15to get out of the chair and go to the gym.
0:28:15 > 0:28:19- And eat less!- Basically, that's your business model. It's ridiculous.
0:28:19 > 0:28:23Well, it doesn't just tell people to go to the gym!
0:28:23 > 0:28:24What does it say?
0:28:24 > 0:28:28Does it say something like, "Don't eat fat hamburgers",
0:28:28 > 0:28:34- for example?- It might suggest that you shouldn't eat certain food.
0:28:34 > 0:28:37My point is that they pay money to sit in the chair
0:28:37 > 0:28:41and the chair tells them to get out of the chair.
0:28:41 > 0:28:44The only way to solve this problem, the problem of obesity,
0:28:44 > 0:28:49is to find a way to get people to start looking after themselves.
0:28:50 > 0:28:53- I'm out.- OK.
0:28:58 > 0:29:00A second devastating evaluation,
0:29:00 > 0:29:04and a more circumspect Alan is fast running out of options.
0:29:04 > 0:29:08Peter Jones is now ready to show his hand.
0:29:09 > 0:29:13- Alan...- Yes, Peter?
0:29:13 > 0:29:16Personally, I'm staggered you've got 450 members.
0:29:16 > 0:29:18So you've proved it's a business that could work.
0:29:18 > 0:29:21Is it a business that I can invest in?
0:29:21 > 0:29:24Well, when we're in here looking at an investment,
0:29:24 > 0:29:27we're trying to build a rapport with you,
0:29:27 > 0:29:30at the same time trying to evaluate an opportunity,
0:29:30 > 0:29:34and you've come in here too relaxed, not focused.
0:29:36 > 0:29:39So I can't invest in the business as presented. I'm out.
0:29:39 > 0:29:41OK. Thank you.
0:29:42 > 0:29:43Alan?
0:29:43 > 0:29:48I can't imagine being in business with you.
0:29:48 > 0:29:52And my life's too short, too short to try and best-guess
0:29:52 > 0:29:54what it is that you're not telling me
0:29:54 > 0:29:57or what is the exact and specific question that I need to ask you
0:29:57 > 0:30:00to get the answer to.
0:30:01 > 0:30:04- I won't be investing in you, Alan.- OK.- I'm out.
0:30:07 > 0:30:08OK...
0:30:08 > 0:30:11Alan, I'm definitely against
0:30:11 > 0:30:14anybody who comes to me for an investment
0:30:14 > 0:30:17who can't answer a question
0:30:17 > 0:30:20in a straightforward manner.
0:30:23 > 0:30:29You seriously need to think through...
0:30:29 > 0:30:31your attitude.
0:30:34 > 0:30:37I'm totally out.
0:30:37 > 0:30:39- Thank you, Alan. - Thank you.- Thank you.
0:30:41 > 0:30:44Having received short shrift from the Dragons,
0:30:44 > 0:30:48Alan failed to secure their cash. He leaves with nothing.
0:30:49 > 0:30:55What happened? I thought it was going quite well at first, but, erm,
0:30:55 > 0:30:59obviously it wasn't going quite as well as I thought it was going.
0:30:59 > 0:31:01Erm, I was trying to answer the questions...
0:31:01 > 0:31:03erm...
0:31:03 > 0:31:06as honestly as I could.
0:31:06 > 0:31:08Clearly, I didn't do as well as I could have done.
0:31:08 > 0:31:11So back to the drawing board.
0:31:13 > 0:31:15# LIVELY JAZZ TUNE
0:31:18 > 0:31:20Following a fanfare arrival,
0:31:20 > 0:31:25Cardiff-based costume designer Ali Kedge caused amusement in the Den
0:31:25 > 0:31:27whilst asking for £50,000
0:31:27 > 0:31:31to help expand the market for her brass-instrument accessory.
0:31:31 > 0:31:36My company's name - you've all got to keep a straight face, OK? -
0:31:36 > 0:31:38it's called Warmahorn.
0:31:38 > 0:31:41Brass instruments suffer in cold temperatures,
0:31:41 > 0:31:44and a Warmahorn is a neoprene sleeve
0:31:44 > 0:31:49that protects colours and warms brass instruments.
0:31:50 > 0:31:53The Dragons have fundamental reservations about her business.
0:31:53 > 0:31:57It's for the outdoor market that want to keep their horn...
0:31:57 > 0:31:59I can't even say it. It's for...
0:31:59 > 0:32:01You started this!
0:32:01 > 0:32:05It's for the outdoor market that want to keep their horn warm.
0:32:05 > 0:32:09So you're limiting the market already.
0:32:09 > 0:32:12Ali, I like you. I love your hair.
0:32:12 > 0:32:14I love your watch.
0:32:14 > 0:32:17But I don't like your business proposal.
0:32:17 > 0:32:19I'm out.
0:32:19 > 0:32:22Though she received no offers of cash,
0:32:22 > 0:32:25one Dragon did at least try to give Ali some helpful advice.
0:32:25 > 0:32:27Why don't you go and talk to somebody
0:32:27 > 0:32:30who perhaps understands that market more
0:32:30 > 0:32:34and perhaps could, I don't know, either advance it or...
0:32:34 > 0:32:37I think what you mean is "musical-instrument investors".
0:32:37 > 0:32:40Musical-instrument... Yeah.
0:32:40 > 0:32:44- There must be some!- In the Yellow Pages. "Brass-band investors."
0:32:46 > 0:32:50On that note, I'm sorry, but I've got to say...
0:32:50 > 0:32:54- I'm out.- OK. Thank you.- Good luck on your journey.- OK, bye.
0:32:55 > 0:33:01To hear from Hilary Devey about what it's like being a Dragon...
0:33:01 > 0:33:03I'm not amused. I'm angry. I'm out.
0:33:03 > 0:33:06..or to find out why her rivals invested in Georgette's online business,
0:33:06 > 0:33:10press the red button at the end of the programme.
0:33:11 > 0:33:16Chilean circus entertainer Rodrigo Perez is next into the Den.
0:33:16 > 0:33:19That might be enough to suggest he's pitching an unusual venture.
0:33:19 > 0:33:21Accompanied by his wife Lois Dutton,
0:33:21 > 0:33:25the couple want to convince the Dragons they can make a fortune
0:33:25 > 0:33:28with a spectacle sure to wow any crowd.
0:33:51 > 0:33:55Hello, Dragons. My name is Rodrigo Perez.
0:33:55 > 0:33:58I am a human cannonball.
0:33:58 > 0:34:01Hello, Dragons. My name is Lois. I'm Rodrigo's wife,
0:34:01 > 0:34:04and I'll be dealing with the paperwork side of the business.
0:34:04 > 0:34:09I'm here today for £30,000 investment for 10% equity share.
0:34:09 > 0:34:15I want to carry on with the family tradition that my uncle did
0:34:15 > 0:34:16in the 1980s.
0:34:16 > 0:34:22My business idea is to bring the new generation of the human cannonball.
0:34:22 > 0:34:26As you can see here, it's a model of what I want to do.
0:34:28 > 0:34:30Here are some of my photos.
0:34:30 > 0:34:36This one here, I shoot out of the cannon 25 metres.
0:34:37 > 0:34:42This one here, it was 35 metres.
0:34:42 > 0:34:46There are very few human cannonballs, so it truly is quite a unique act.
0:34:48 > 0:34:51Thank you for your attention. Are there any questions?
0:34:53 > 0:34:58Showman Rodrigo Perez and his wife Lois Dutton
0:34:58 > 0:35:01have certainly captured the Dragons' attention,
0:35:01 > 0:35:03but it's their £30,000 they really need.
0:35:03 > 0:35:06What will our new Dragon make of it all?
0:35:10 > 0:35:15Hi. I'm Hilary. Erm, so your cannon's nearly built.
0:35:15 > 0:35:17RODRIGO: Nearly, yes.
0:35:17 > 0:35:20So when you say "nearly", how nearly built?
0:35:20 > 0:35:2180%.
0:35:21 > 0:35:24The mechanics of it is actually ready and done.
0:35:24 > 0:35:26It's quite a feat of engineering in our garage.
0:35:26 > 0:35:30But there are some things that he needs, like an air bag,
0:35:30 > 0:35:33something to put it on.
0:35:33 > 0:35:36Right. So, what are the projected figures?
0:35:36 > 0:35:39It's difficult, because the act isn't up and running yet,
0:35:39 > 0:35:42but we do have some paperwork and figures prepared.
0:35:42 > 0:35:43Right.
0:35:43 > 0:35:45RODRIGO: Looking at per show,
0:35:45 > 0:35:49er, like, around 2,700.
0:35:49 > 0:35:51LOIS: We're confident that we'll get
0:35:51 > 0:35:55- that amount per show, because... - Why? Tell me how.
0:35:55 > 0:35:56We've had inquiries last year.
0:35:56 > 0:35:59They paid a deposit, but we had to refund it
0:35:59 > 0:36:03- because we couldn't get the finances in time. - Have you not been to the bank?
0:36:03 > 0:36:06Erm, we have looked down that option,
0:36:06 > 0:36:08but basically, because we're self-employed,
0:36:08 > 0:36:11it's very difficult to forecast figures for a bank.
0:36:15 > 0:36:18Lois's orderly and professional approach
0:36:18 > 0:36:20to this somewhat unconventional business
0:36:20 > 0:36:23looks to have captivated Deborah Meaden.
0:36:24 > 0:36:26I'm fascinated. How did you meet?
0:36:26 > 0:36:29LOIS: In the circus in Mexico.
0:36:29 > 0:36:34I took a dance contract and saw him fly round about here
0:36:34 > 0:36:37and land in the net right above me.
0:36:37 > 0:36:39And yeah, I thought, "Mmmm!" LOIS LAUGHS
0:36:39 > 0:36:44- "He looks like a nice guy." - A package delivered from heaven!
0:36:44 > 0:36:47- Oh, well, yeah! - It's quite an act, isn't it?
0:36:47 > 0:36:51- I mean, it would get your attention, wouldn't it?- Yes, definitely.
0:36:51 > 0:36:54Guys, hi. I'm Peter. What is inside?
0:36:54 > 0:36:58Is it like a hydraulic spring that launches you out of there?
0:36:58 > 0:37:00Or is it air compression?
0:37:00 > 0:37:03It's human cannonball code.
0:37:04 > 0:37:06I can't tell you.
0:37:06 > 0:37:07Oh, really?
0:37:07 > 0:37:09< Unfortunately not.
0:37:09 > 0:37:11If I invested the money, would I get to know?
0:37:13 > 0:37:15Hmm... Yes. Yes.
0:37:15 > 0:37:20Get in it, Peter! Go on! You know you want to. Headfirst.
0:37:20 > 0:37:22- It'd be a bit dirty.- Is it dirty?
0:37:22 > 0:37:24Not much, no.
0:37:24 > 0:37:25Can I show you?
0:37:25 > 0:37:26Yeah. Please.
0:37:30 > 0:37:35A teasing answer, and the duo's easy charm is going down well.
0:37:35 > 0:37:40- OK, so it literally is as easy as that? You reverse into it?- Yeah!
0:37:40 > 0:37:42Enchanted the Dragons may be,
0:37:42 > 0:37:46but will the demonstration be enough to tempt them to invest?
0:37:46 > 0:37:50- Can you hear me? - Yes! Three, two, one.
0:37:51 > 0:37:52LAUGHTER
0:37:53 > 0:37:55APPLAUSE
0:37:55 > 0:37:58- Oh, dear!- I'm glad you didn't go in there, Peter.
0:37:58 > 0:38:00Now is clean!
0:38:05 > 0:38:09- What's the furthest you've ever flown?- 35 metres.
0:38:09 > 0:38:11- You have done 35 metres?- Yes. - What's the world record?
0:38:11 > 0:38:1362.
0:38:13 > 0:38:1561, 62 metres.
0:38:15 > 0:38:18So you're halfway to a world record.
0:38:18 > 0:38:23Right. Rodrigo, obviously hugely talented.
0:38:23 > 0:38:26This is not an investable business.
0:38:26 > 0:38:29It's a vocation, it's a passion.
0:38:29 > 0:38:33But is a magic inside. My art is a magic.
0:38:33 > 0:38:36It is magic, and I wish you the best for the magic.
0:38:36 > 0:38:39But it's not for me, so I'm afraid I'm out.
0:38:43 > 0:38:46The mood quickly changes as Theo Paphitis
0:38:46 > 0:38:49brings the Den back to business reality.
0:38:49 > 0:38:53And it looks like Deborah Meaden is ready to have her say, too.
0:38:54 > 0:38:58Let me tell you where I am. I think it's completely unscaleable.
0:38:58 > 0:39:02And it's obviously unscaleable, because it's you, it's your skill,
0:39:02 > 0:39:07it's what you do, and I'm sure human cannons don't grow on trees,
0:39:07 > 0:39:10which is great for you as individuals,
0:39:10 > 0:39:13but for me as an investor it's never going to be huge.
0:39:13 > 0:39:17Good luck, but I'm out.
0:39:17 > 0:39:23Lois, Rodrigo, I could see you being booked for 2,700 for an event.
0:39:23 > 0:39:26But as a business, it's not something for me,
0:39:26 > 0:39:28- so I'm going to say I'm out. - Thank you.
0:39:29 > 0:39:32Yes, it's not a normal type of investment.
0:39:32 > 0:39:35I am tempted, but, erm...
0:39:37 > 0:39:42- No. Sorry. I'm out. But the best of luck.- Thank you.
0:39:46 > 0:39:49Three Dragons out in quick succession.
0:39:49 > 0:39:54Now all that remains is for Hilary Devey to show her hand.
0:39:57 > 0:40:01I don't think I could live with myself if anything happened to you.
0:40:01 > 0:40:04Every time you do it, I'd be on the phone to Lois.
0:40:04 > 0:40:06"Is he all right? Is he all right?" You know?
0:40:06 > 0:40:10And I just don't think I could sleep at night.
0:40:10 > 0:40:13So unfortunately, I've got to say I'm out.
0:40:13 > 0:40:14Thank you. OK. Thank you.
0:40:14 > 0:40:17- Good luck.- Thank you.- And stay safe!
0:40:17 > 0:40:19I will. Thank you.
0:40:19 > 0:40:23A disappointing end for Rodrigo and Lois.
0:40:23 > 0:40:26They leave with the Dragons' good wishes but not their cash.
0:40:37 > 0:40:40Other entrepreneurs who tried and failed in the Den
0:40:40 > 0:40:44included Somerset-based bricklayer foreman Paul Watts.
0:40:44 > 0:40:46He wanted £50,000 for his invention
0:40:46 > 0:40:49aimed at reducing harmful dust at building sites.
0:40:55 > 0:40:59Paul was on the receiving end of some tough cross-examination
0:40:59 > 0:41:00from the Dragons.
0:41:00 > 0:41:04What makes you think that if I invested £50,000,
0:41:04 > 0:41:07I would get a return?
0:41:07 > 0:41:10My product is a preferred item.
0:41:10 > 0:41:14It's not a preferred item, because you've sold 250 of them.
0:41:14 > 0:41:15That's it.
0:41:15 > 0:41:17What's the total size of your market?
0:41:17 > 0:41:22My research for firms was 180,000. I would imagine they would have one each.
0:41:22 > 0:41:24So if you hit 1% of that marketplace,
0:41:24 > 0:41:281,800 units of your product sold,
0:41:28 > 0:41:30an average margin of about £5.
0:41:30 > 0:41:33- It wouldn't be that good, would it? - Right.
0:41:34 > 0:41:38Hilary Devey quickly did her sums and came to a startling conclusion.
0:41:38 > 0:41:43Because it would take me 25 years to recoup my investment,
0:41:43 > 0:41:45I've got to say I'm out.
0:41:45 > 0:41:48Good product, but a great product doesn't make a business,
0:41:48 > 0:41:54- and that's the reason why I'm out. - OK, thank you very much.
0:41:54 > 0:42:00Former singer Nola Baldwin asked the Dragons for a £75,000 investment
0:42:00 > 0:42:02in her kitchenware brand.
0:42:02 > 0:42:08A Gloven is a flexible oven glove. It protects you up to 250 degrees.
0:42:08 > 0:42:12One of my strap lines is "I'm really love'n my Gloven,"
0:42:12 > 0:42:15and I hope that you will love the Gloven too.
0:42:15 > 0:42:19It certainly wasn't love at first sight for Duncan Bannatyne.
0:42:19 > 0:42:21How did you come up with the name Gloven?
0:42:21 > 0:42:23- "Oven glove."- Just a minute, just a minute.- Oven...
0:42:23 > 0:42:26But it's not a cross between a glove and an oven.
0:42:26 > 0:42:29See, I was in the supermarket the other day,
0:42:29 > 0:42:30and I bought some takeaway food.
0:42:30 > 0:42:35- I used a spork, which is a cross between a spoon and a fork. - Yes, I've seen those.
0:42:35 > 0:42:37When you have a cross, you join the name.
0:42:37 > 0:42:41But yours is two separate things. It's not a cross between them.
0:42:41 > 0:42:44- What are you on about, Duncan? - LAUGHTER
0:42:46 > 0:42:48- I think it's silly.- OK.
0:42:48 > 0:42:51I completely disagree with Duncan.
0:42:51 > 0:42:54The ONLY thing that I like about this is the name.
0:42:54 > 0:42:58A lot of people think that when they've come up with a good name,
0:42:58 > 0:43:01that that's enough, and it isn't.
0:43:01 > 0:43:04In the end, it was Hilary Devey who had the final word.
0:43:04 > 0:43:07It's not going to make you a lot of profit, love.
0:43:07 > 0:43:10For that reason, I'm out.
0:43:18 > 0:43:21Next to face the Dragons is Chris Hopkins,
0:43:21 > 0:43:25whose company has capitalised on government support for solar power.
0:43:25 > 0:43:28Will the former bodybuilder from West Yorkshire
0:43:28 > 0:43:30get a good reception in the Den?
0:43:59 > 0:44:01Hello, Dragons.
0:44:01 > 0:44:04My name's Chris Hopkins, managing director of Ploughcroft.
0:44:04 > 0:44:07I'm here today to ask for £120,000
0:44:07 > 0:44:09for 10% in my business.
0:44:09 > 0:44:13You've heard that money doesn't grow on trees, which is true,
0:44:13 > 0:44:17but I'm here to show you that money CAN grow on rooftops
0:44:17 > 0:44:19around the UK on domestic homes
0:44:19 > 0:44:21thanks to Feed-In Tariff.
0:44:21 > 0:44:24The Feed-In Tariff works like this.
0:44:24 > 0:44:28Ploughcroft would install these solar panels on a domestic home's roof.
0:44:28 > 0:44:29The daylight comes out of the sky,
0:44:29 > 0:44:34it's absorbed by the panels, turned into electricity...
0:44:34 > 0:44:38goes through the house to the energy-generating company.
0:44:38 > 0:44:42The energy-generating company then pays that homeowner the tariff.
0:44:42 > 0:44:45A system that Ploughcroft installs we sell to the homeowner
0:44:45 > 0:44:47at between £12,000 to £14,000.
0:44:47 > 0:44:53That domestic-home owner will get £1,600 estimated per year
0:44:53 > 0:44:57guaranteed for 25 years, and it's tax-free.
0:44:57 > 0:45:00So why is a Ploughcroft proposition such an investment?
0:45:00 > 0:45:04First of all, we've already done 5,000 of these installs across the UK.
0:45:04 > 0:45:07I think this is a fantastic opportunity
0:45:07 > 0:45:11to invest in a company which has innovated in green energy
0:45:11 > 0:45:14and is recognised as leading the solar-roofing revolution. Thank you.
0:45:18 > 0:45:22A topical pitch by the perky roofer from Halifax.
0:45:22 > 0:45:25In business, timing is everything, and Chris believes
0:45:25 > 0:45:30a cash injection of £120,000 in exchange for 10% equity
0:45:30 > 0:45:34will turn his solar-panel company into a national brand.
0:45:34 > 0:45:37But it looks like Deborah Meaden has something on her mind.
0:45:40 > 0:45:44- Hello, I'm Deborah.- Hi, Deborah. - Just so you know, I've got that installation,
0:45:44 > 0:45:47and I've got a company that supplies these.
0:45:47 > 0:45:50- I probably need to declare that.- OK. - It doesn't count me out.
0:45:50 > 0:45:53It could be interesting to find a partner working elsewhere.
0:45:53 > 0:45:58- OK.- And it's actually quite simple.
0:45:58 > 0:46:01If you've got any money sitting in a bank earning tuppence,
0:46:01 > 0:46:04take it out of the bank, put 16 panels on your roof
0:46:04 > 0:46:06and you will earn 10%, tax-free.
0:46:06 > 0:46:07Correct. Exactly correct.
0:46:07 > 0:46:11So have you got the relationships already with the panel suppliers?
0:46:11 > 0:46:15An exclusive contract with Plumb Centre in their 500 branches across the UK,
0:46:15 > 0:46:17so anybody who buys solar panels from them,
0:46:17 > 0:46:19we will install it for a fixed price.
0:46:19 > 0:46:22How big is the territory you're working in at the moment?
0:46:22 > 0:46:25For homeowners, Yorkshire and Lancashire.
0:46:25 > 0:46:29But I need to ramp it up and get six more branches - one in Exeter,
0:46:29 > 0:46:30one in Southampton, Guildford,
0:46:30 > 0:46:35Lichfield... Might be seven, actually. ..Cardiff and Milton Keynes.
0:46:35 > 0:46:38Next week I'm in DEC to see the energy minister,
0:46:38 > 0:46:41to discuss feed-in tariffs and the Green Deal.
0:46:41 > 0:46:45- Sorry, I'm getting carried away, but I'm so excited.- Passion's fine.
0:46:45 > 0:46:49My influence will be phenomenal in the next 12 months. I just need help to get there.
0:46:53 > 0:46:55An encouraging start for Chris
0:46:55 > 0:46:58as Deborah Meaden immediately validates his pitch.
0:46:58 > 0:47:03Duncan Bannatyne is eager to delve deep into the company finances.
0:47:05 > 0:47:10- Chris?- Yes?- Let's talk about your last three years' accounts.- OK.
0:47:10 > 0:47:11Right, 2007/2008,
0:47:11 > 0:47:171.9 million turnover with 200,000 profit.
0:47:17 > 0:47:19Next year was the year that we hit the recession.
0:47:19 > 0:47:21We turned over 1.2 million
0:47:21 > 0:47:23and we lost £200,000.
0:47:23 > 0:47:28The following year was the year that Feed-In Tariff was brought in,
0:47:28 > 0:47:30so we did 2.6 million turnover
0:47:30 > 0:47:36- with £175,000 profit. - What's the projection for the year you're in now?
0:47:36 > 0:47:40- Five million turnover, with... - Big jump.- Yes, it is.
0:47:40 > 0:47:44The renewable energy market is growing at 1,000% this year.
0:47:44 > 0:47:48- Profit? - Profit September this year 600,000.
0:47:50 > 0:47:54Now, you're going to make £600,000 profit, which is a really good profit.
0:47:54 > 0:47:59Why do you need £120,000 of my money?
0:47:59 > 0:48:03Borrow it from the bank, the bank aren't going to give me any help, any help me with marketing.
0:48:03 > 0:48:05I've run this business 14 years
0:48:05 > 0:48:08and I've never experienced growth at this rate.
0:48:08 > 0:48:10This market is booming.
0:48:10 > 0:48:13The next year's projections after this year is 9.3 million.
0:48:13 > 0:48:16But I need to get Ploughcroft to be a national brand. I need your help.
0:48:16 > 0:48:17OK.
0:48:19 > 0:48:21Assuming those figures are correct,
0:48:21 > 0:48:25you've no doubt you're going to make £600,000 profit.
0:48:25 > 0:48:27I'll offer you all the money, £120,000,
0:48:27 > 0:48:30but I want 30% of the equity.
0:48:30 > 0:48:32OK?
0:48:32 > 0:48:3830%, it's too much. So would you come down to 20% and meet me halfway?
0:48:42 > 0:48:45- Will you guarantee you'll make 600,000 this year?- Yes.
0:48:45 > 0:48:48I'll raise my offer to 25%.
0:48:48 > 0:48:53- 20%.- Chris, is Duncan your only Dragon you're interested in?
0:48:53 > 0:48:57- Sorry, no!- You've got four Dragons here.- Absolutely crazy!
0:48:57 > 0:49:04- You came in here to talk to five investors.- Sorry, OK.
0:49:04 > 0:49:08I'll open the floor up to the next person that wants to speak to me.
0:49:12 > 0:49:16The Dragons are in uproar as Duncan Bannatyne's instantaneous offer
0:49:16 > 0:49:20causes confusion in the Den.
0:49:20 > 0:49:22The experienced entrepreneur looks ruffled,
0:49:22 > 0:49:25but it's Deborah Meaden who brings proceedings back to order.
0:49:28 > 0:49:31Chris, this is going to happen, without a doubt.
0:49:31 > 0:49:33We are well behind the rest of the world,
0:49:33 > 0:49:37- including countries that don't get as much sun as we do.- Correct.
0:49:37 > 0:49:40And actually, what I'm encouraged by with you
0:49:40 > 0:49:41is that you're at the heart of it.
0:49:41 > 0:49:45You're talking to the Government about the scheme. I love that,
0:49:45 > 0:49:49- because that tells me that you are on the ethical side of doing this. - Correct.
0:49:49 > 0:49:51Erm...
0:49:54 > 0:49:56..I am going to make you an offer.
0:49:56 > 0:49:58OK.
0:49:58 > 0:50:01- All of the money...- Right.
0:50:01 > 0:50:04..and I want...
0:50:04 > 0:50:0525% of the business.
0:50:05 > 0:50:07OK.
0:50:07 > 0:50:09Thank you.
0:50:14 > 0:50:17Deborah Meaden goes head-to-head with Duncan Bannatyne,
0:50:17 > 0:50:22but both are demanding more than double the equity Chris is offering.
0:50:22 > 0:50:25Will Theo Paphitis now choose to enter the fray?
0:50:30 > 0:50:35- I like the business.- Right.- And I think I'd enjoy working with you.
0:50:35 > 0:50:39- OK.- So, erm, I'm going to make you an offer.
0:50:41 > 0:50:45For me, it's important that any stake I have is meaningful,
0:50:45 > 0:50:49so my offer is the full money...
0:50:49 > 0:50:52- Yes.- ..for 25% as well.
0:50:52 > 0:50:53Right. OK.
0:50:53 > 0:50:55Thank you.
0:50:55 > 0:50:57Chris?
0:50:57 > 0:51:00- Yes?- First of all, I'd like to know
0:51:00 > 0:51:02what you want from the Dragon.
0:51:02 > 0:51:05- OK.- Then I want to tell you what I can give you.
0:51:05 > 0:51:07Marketing expertise is what I need.
0:51:07 > 0:51:09Fine. Can give you that. Move on.
0:51:09 > 0:51:14- OK. Help with strategy, because this business...- Fine. Move on. Next.
0:51:14 > 0:51:15Move on.
0:51:15 > 0:51:17How much time could you give me if you made an offer?
0:51:17 > 0:51:20One day a month, or one day a week, or...?
0:51:20 > 0:51:22You would need more than that initially.
0:51:22 > 0:51:26I think you need extensive PR, extensive marketing campaigns.
0:51:26 > 0:51:29It is going to be a very changeable business model.
0:51:29 > 0:51:31OK.
0:51:31 > 0:51:35So I will give you the full amount, 120,000,...
0:51:37 > 0:51:39..but I would want 26% of your business.
0:51:39 > 0:51:41Right.
0:51:42 > 0:51:45But I would put a team into you.
0:51:45 > 0:51:48- So you're giving me a team that would work at our head office?- Yeah.
0:51:48 > 0:51:51Chris, I need to be clear. I won't be putting a team in with you.
0:51:51 > 0:51:57- If that's what you want, I don't want you to choose me.- Chris?
0:51:57 > 0:52:01What I think, what I will offer, is an in-depth knowledge of this market
0:52:01 > 0:52:06and the ability to market and get you out there as quickly as possible.
0:52:06 > 0:52:10- It's a market that is in a critical bit.- That's really the thing I think you need.
0:52:10 > 0:52:12If you're going to compare offers,
0:52:12 > 0:52:15- I just want to be absolutely honest with you.- That's great.- Chris?
0:52:15 > 0:52:19What I would say is with the right team,
0:52:19 > 0:52:21we can make it the market leader.
0:52:24 > 0:52:28An astute Hilary Devey tries to outmanoeuvre her rivals
0:52:28 > 0:52:31by offering additional business support
0:52:31 > 0:52:34in exchange for a small percentage hike.
0:52:34 > 0:52:36Chris has four offers on the table.
0:52:36 > 0:52:39Will Peter Jones make it a clean sweep?
0:52:43 > 0:52:45I'm just sitting here trying to work out
0:52:45 > 0:52:49whether your business model is an opportunity.
0:52:49 > 0:52:53How many homes have got disposable income to spend on this?
0:52:53 > 0:52:56I can't give you the exact answer to that,
0:52:56 > 0:53:00- but I can tell you what I've done in Yorkshire. - You could get those stats.
0:53:00 > 0:53:03- Sorry? - Your business model, it's vital
0:53:03 > 0:53:05- that you know that information.- OK.
0:53:05 > 0:53:08I know... OK.
0:53:08 > 0:53:11Because I think you're going to be really shocked to see
0:53:11 > 0:53:16how many people can afford to use savings to do this.
0:53:16 > 0:53:21- OK. OK.- It's not an investment for me, so I'm out.- Thank you.
0:53:26 > 0:53:28If... OK.
0:53:30 > 0:53:32We will...
0:53:32 > 0:53:35I'm not familiar with what to do at this point.
0:53:35 > 0:53:36So...
0:53:36 > 0:53:38Chris?
0:53:38 > 0:53:41- Yes?- I'm going to make you an offer now
0:53:41 > 0:53:44that I think is the offer...
0:53:44 > 0:53:46..that is best for you.
0:53:47 > 0:53:49The best is to accept an offer...
0:53:49 > 0:53:56from two Dragons. OK? But I've no interest in Deborah coming in, OK?
0:53:56 > 0:54:00I've no interest in sharing it with Theo, either.
0:54:00 > 0:54:03So my offer, really, is an offer from me and Hilary joint,
0:54:03 > 0:54:06if Hilary were to come in. OK?
0:54:06 > 0:54:09So what I'm going to offer you is half the money
0:54:09 > 0:54:11for 11%.
0:54:11 > 0:54:16And we'd have to get Hilary to come in for 11% as well.
0:54:17 > 0:54:21I'm perfectly happy to work with Duncan,
0:54:21 > 0:54:23and I think between the two of us
0:54:23 > 0:54:25we would serve you very well
0:54:25 > 0:54:28- and serve the business well, more importantly.- OK.
0:54:30 > 0:54:31Thank you, Duncan.
0:54:31 > 0:54:33In a shrewd move,
0:54:33 > 0:54:37a canny Duncan Bannatyne gives Chris another option.
0:54:37 > 0:54:40Will working with two Dragons and parting with a lower equity stake
0:54:40 > 0:54:43be enough to seal a deal?
0:54:44 > 0:54:48Right, OK. Take control again.
0:54:48 > 0:54:51So would you two consider making an offer together, combined?
0:54:54 > 0:55:00- Yeah.- I don't know what your percentage will be. I'd better let you talk.- For me, it would stay.
0:55:00 > 0:55:03- 12.5% each?- Correct.
0:55:17 > 0:55:19Right, OK.
0:55:19 > 0:55:25Would you come down collectively so it was 22.5%, so it's 11...
0:55:27 > 0:55:30Chris, I just want to say, I've made you three offers, right?
0:55:30 > 0:55:34And I'm now deeply insulted that you've refused two of my offers
0:55:34 > 0:55:37- and you're using my offer to get a better offer. - It's an important decision!
0:55:37 > 0:55:40And so for that reason, Chris,
0:55:40 > 0:55:43I'm withdrawing my offer and I'm out.
0:55:43 > 0:55:45Well, it's an important decision,
0:55:45 > 0:55:48so I think you should take your time considering it.
0:55:48 > 0:55:50As long as you like.
0:55:54 > 0:55:56The pressure on Chris rises
0:55:56 > 0:55:59as Duncan Bannatyne crashes out of the deal.
0:55:59 > 0:56:03Will Hilary Devey now choose to stand by her offer,
0:56:03 > 0:56:06or does she too feel aliened by Chris's behaviour?
0:56:11 > 0:56:13Sorry, Hilary, I come back to you.
0:56:13 > 0:56:15I'm still in.
0:56:17 > 0:56:21- I see this as a growing business. - Right.
0:56:21 > 0:56:25And I will give you everything that you require
0:56:25 > 0:56:28to make it a home-brand name
0:56:28 > 0:56:30and to make it the market leader.
0:56:43 > 0:56:45So...
0:56:45 > 0:56:47I'd like to accept Deborah and Theo's offer.
0:56:47 > 0:56:50Well, that's easily done!
0:56:50 > 0:56:54- Thank you.- Thank God for that! Well done!- Chris has done it.
0:56:54 > 0:56:57It was a particularly intense negotiation,
0:56:57 > 0:56:59but he's secured the £120,000 he needed
0:56:59 > 0:57:04and two well-connected multimillionaire investors.
0:57:08 > 0:57:10Chris, well done!
0:57:10 > 0:57:14Quite a lot of tension between the Dragons, though, over those offers.
0:57:14 > 0:57:17Could you sense the two camps and the rivalry and tension?
0:57:17 > 0:57:20They all made individual offers, and then they joined two and two,
0:57:20 > 0:57:23and it was, like, "Oh, which one here?
0:57:23 > 0:57:27- "Which one do I pick?"- It was confusing for you trying to work out
0:57:27 > 0:57:31- which configurations and combinations were going to work best.- Yes.
0:57:31 > 0:57:34Yeah, but she made a good offer, did Hilary.
0:57:34 > 0:57:37She offered extra resources and putting staff in behind me.
0:57:37 > 0:57:41I didn't really need that, because I'm running the company fine.
0:57:41 > 0:57:44What I need is their strategy more than anything,
0:57:44 > 0:57:48and it was that that persuaded me to choose Theo and Deborah.
0:57:56 > 0:57:59The end of the first day back in the Den,
0:57:59 > 0:58:01and what a dramatic end it's been.
0:58:01 > 0:58:04The Dragons have wasted no time spotting opportunities
0:58:04 > 0:58:05and fighting over them.
0:58:05 > 0:58:08Chris Hopkins saw two tribes of multimillionaires
0:58:08 > 0:58:10go to war with each other,
0:58:10 > 0:58:13and he was lucky enough to be able to choose his partners.
0:58:15 > 0:58:17If you'd like to find out more
0:58:17 > 0:58:20about why Chris chose Deborah Meaden and Theo Paphitis as investors,
0:58:20 > 0:58:23press the red button now,
0:58:23 > 0:58:26where you'll also find out more about our new Dragon, Hilary Devey.
0:58:26 > 0:58:28Goodbye.
0:58:30 > 0:58:35I don't think it's investable. Frankly, I don't think YOU'RE investable.
0:58:35 > 0:58:40- It's taken you 14 years to send an e-mail.- No. I disagree.
0:58:40 > 0:58:42I disagree. It has, yeah, technically.
0:58:42 > 0:58:46# I said a hip, hop, di-hibbit Di-hibbit, hip-hop, you don't... #
0:58:46 > 0:58:48I'm a bit lost for words now.
0:58:48 > 0:58:51I ask you the questions, you haven't got the answers,
0:58:51 > 0:58:53- and now you're getting EXTREMELY defensive.- Well...
0:58:53 > 0:58:55You should know.
0:59:14 > 0:59:16Subtitles by Red Bee Media Ltd
0:59:16 > 0:59:18E-mail subtitling@bbc.co.uk