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These are the Dragons,
five of Britain's wealthiest and most enterprising business leaders.
They're about to make or break the dreams of dozens of budding entrepreneurs.
You may well sell a few. But commercially... No, love.
14 years in the gym business...
Turnover 100 million a year... I've been doing it all wrong.
So far so good. It all sounds very interesting.
On track for a turnover of two million this year.
That's not a business plan. That's a road to rack and ruin.
That's a real frustration.
The only way I can deal with that is to make you an offer.
The multi-millionaire investors have each built up their fortunes from scratch.
Hotel and health club owner Duncan Bannatyne.
Leisure industry expert, Deborah Meaden.
Retail magnate, Theo Paphitis.
Telecoms giant, Peter Jones.
And Hilary Devey, who made her millions in the haulage industry.
The Dragons have the credentials, the contacts, the commitment and the cash
ready to invest,
but only in the right business.
Will any of these hopeful entrepreneurs walk away with their money?
Welcome to the Dragons' Den.
For the last nine weeks, the Dragons have been in formidable form
and today, the doors open for the last time this year.
Our final set of entrepreneurs
are waiting to face the multimillionaires
in the hope of securing an investment
that could make their business fortune.
As we've seen, pitching in the Den is a daunting prospect,
but a lucky few walk away with a life-changing outcome.
Long-term business partners James Eadon and Chris Ollivier are first into the Den
with a new product they think will stand out from the crowd in the toy industry.
My name is Chris and my colleague is James.
We are founder members of a company called Culica Limited.
We're looking for £80,000 in return for 10 percent equity in the company.
-Hello, everybody. I'm the inventor of the Culica.
The Culica is the greatest game invention since playing cards and chess.
You play with pegs and the pegs slot into the Culica
and you play by putting pegs in according to different rules.
These games have names like CuColours, CuMolecula, CuSnakes,
And the great thing about the Culica is,
you can play are multiplayer games or single-player games.
It's much of a touchy-feely-type game,
so the best way to get to know it
is if you want to complete a semi-started game,
-James will explain.
-No problem. Thank you.
-What do I have to do?
-We'll explain in a second.
-There's a bag.
-You're going to watch. Anyone else want to?
-Each bag has a different colour in.
The rules are, you have to get four in a row straight,
or three in a row diagonal.
-Three in a row diagonal.
-But not by moving ones that are already in.
-You never said that!
-And pass on the Culica to the next person along in the row.
I see. So, I've only got green? So, I take one out?
I'm going to put the green one in there.
-Duncan's trying to get four in a row.
-And we're trying to stop him?
-Or get four before him.
-I'm going to block him. There you go.
-I've blocked him.
All right, so you set it up so just one...
-I don't even get a go!
-I think Duncan moved one of the yellow pegs.
I won. Just leave it. I won the game!
The problem was, Duncan went first!
Competition amongst the Dragons is not unusual in the Den.
But former work friends, James Eadon and Chris Ollivier, hope to turn it to their advantage
with a demonstration of their new multigame cube.
They're looking for £80,000 to establish it on the market.
A bewildered Peter Jones is first to question the duo.
Hi, I'm Peter.
When you were doing your pitch, you were doing...
What on earth was that?
I was simply doing some gestures.
Cusnakes is like a snake, so this is a snake.
-But what's that?
-That's my impression of somebody doing a combat move in a martial art.
But that has nothing to do with the game itself?
That was more demonstrating the word.
-You articulate word association so that we might get it?
-Obviously, that was a failed strategy.
-James, Chris, hi. I'm Deborah.
The first thing I want to understand is where the business is at the moment.
Are you already in production and selling them,
or is this still at prototype?
-No, we have our first production run arriving in the country at the moment.
We have 5,000 ordered.
Our online store has been opened literally a few days.
Are you selling to any retailers? Have you approached any?
-We have a distributor doing that for us.
And where are they? Have they approached anybody? Taken any orders?
We have a firm offer, if not a formal order, from Lakeland.
They've given us the paperwork and bought 800 units,
-with another 200 to 400 to follow.
-But there's no order number on it yet.
And the distributor... Give me an idea of how much they think
they're going to sell of this game.
I can't give you concrete numbers, because it's not a science, but -
The best way of saying it, then, is, erm,
-of the games that they sell...
..how many will they sell of a very successful game?
They're selling into all the major distributors -
Take one of the games that they currently sell
and tell me what they consider good sales.
We don't know.
The jovial atmosphere is long gone
as more pressing business concerns come to the fore.
Theo Paphitis is not looking impressed.
OK. You're obviously incredibly passionate about it.
I've got to be honest, I've seen nothing that tells me I can't wait to get a sample and play with it.
Your order book doesn't say people think they want to take it home and play with it.
You have to bear in mind that we are new. We've just come onto the market.
And we got interest from Hamleys, and our distributor said
that Hamleys never stock anything from a new company before it's selling.
Let me just tell you. You seem to have stumbled upon somebody
who tells you what you want to hear.
If I may... Essentially, what we're dealing here with is a revolutionary product.
In marketing speak, we call it a disruptive technology.
Our strength and weakness is, it's a novelty.
My opinion is, this game is going to get popular.
There'll be early adopters, chess, bridge and poker players, people who like mind games.
Parents will buy it because it gets kids away from the telly.
This game makes you smarter.
This invention is going to set the toy world on fire!
It's going to make millions in a short amount of time.
EVAN: A bold and passionate fight back from the creative brain of the business.
But will James's steadfast belief in the product
be shared by Hilary Devey?
Chris, James, have I got this right,
you've actually got 5,000 of this product on the sea, on its way to you now?
No, it's actually in our warehouse.
-You've got it?!
-And we're selling.
Bear in mind, we're investing our own money, and it's money we can afford to lose.
So we're taking a business risk and it's on our heads.
The amazing thing is, we've got intent form Hamleys.
-That's unprecedented. This means they must really love the prototype.
-No, no, no, no, no.
-They're in the toy industry and they buyers.
-James. James, stop talking, please.
-They also -
-Chris, don't start when he stops.
I want to ask you one question.
Do you want me to be polite or honest?
We're always looking for honest feedback. We've had very positive.
It's the most boring game I have ever seen.
You would play it twice at the very most.
And for that reason, I'm out.
A first blow for the plucky duo
as an indignant Duncan Bannatyne walks away from the deal.
Now, Theo Paphitis is ready to have his say.
OK, the games market is incredibly competitive.
Your peak selling period, which is Christmas, is when you sell most of your toys.
Do you know what they do? They discount them.
So you kill your margin at the time you're selling most of your product.
It's nuts. And you will find this out as you get big orders
from these retailers you hope to get.
You've got some stock, not a huge amount, 5,000 units.
You'll know within those units whether you've got a business here and whether we're right or wrong.
If we're wrong, you won't need the money. If we're right, we've saved our money.
But I'm going to have too say, I'm out.
Chris, James. You may well sell a few,
you might sell the 5,000 that have landed today.
But commercially... No, love. No.
I don't think it's going to be the market leader that you protest it will be.
It's not investable product for me. I'm sorry, I'm out.
Two more Dragons out.
The duo's Den fate lies in the hands of Deborah Meaden and Peter Jones.
Will they find a reason to invest £80,000?
Erm... I don't know.
I can only go on gut reaction. You're clearly smart guys.
You might have invented the next great thing.
The problem for me is,
I didn't find it that exciting.
Guys, what's sad about it is, I love all these types of things.
From the Rubik's Cube as a kid, all the way through,
I've always had these sort of things.
I don't know whether it's the game
or the way you've put it across, but it just doesn't do it for me.
You've got to make a decision. Do I want to invest my money? Would I buy one?
I'm weighing those questions up. Firstly, I wouldn't buy one.
Secondly, I wouldn't invest my money.
I'm going to say I'm out!
-DRAGONS: Good luck.
-Would you like a business card?
-No. Off you go.
-No. Just... The stairs are there.
Thank you. Good luck, guys.
James and Chris's enthusiasm for their product
may have won the affection of the Dragons, but not their cash.
The duo leave with nothing.
When asked the Dragons to play, what we didn't anticipate, which was a disaster,
was Duncan started rearranging the pegs.
Moving them all over the place.
We'll take on board their criticisms
and we'll analyse them and reanalyse them,
and if we don't get too much cognitive dissonance,
we might actually learn something!
It's not often that the Den gets to discuss the finer points of the National Health Service.
But pharmacist Rob Forde and business partner Dr John Blenkinsopp
caused a stir with their plan to transform the dispensing of repeat prescriptions.
They wanted £75,000.
Medicines Direct is a novel way for patients on long-term medications to gain access to their prescriptions.
What we will be doing is allowing patients to order their medicine over the telephone
and in that way, drive down wastage.
Things seem to start well for the medical pair.
Lots of words I like to hear there. Reducing waste, improving quality, all of those things.
If I was a partner is a GP service, how much money would I save?
We estimate that we'll save between seven and 17 percent
on the current drug budget.
But the atmosphere soon soured, as the business concept seemed to hit a nerve or two.
I have no interest in something
that does exactly the opposite of what patients actually need.
I believe that the GP should have the ability to know his patient,
should be reviewing his patient, and not somebody at the end of a telephone.
I would beg to disagree. The person who writes the most prescriptions
in an average GP practice is actually the receptionist.
We want to deliver the right drug for the patient, for the condition every time,
and that's just not happening today.
Despite conflicting opinions, it was Hilary Devey who discovered the business flaw
that ultimately sealed Rob and John's fate.
In two years, you've got one GP practice on board.
In the early stages, what we were doing was testing our model.
We're on the point now for launch really.
You're too early. You should've been here next year
and said, "We've signed up 30. Do you want to put this money in?" Because I would have.
-The timing could have been better.
-Therefore, you can't have my £75,000.
-I'm afraid I'm out.
Easily the most athletic pitch came from Wiltshire-based husband- and-wife team Rory and Jacqui.
They hoped the Dragons would invest £50,000 in their new sport concept for gyms.
I believe people are competitive and enjoy training for a goal.
The Optathlon is a race of eight gym exercises.
We've created 15 different courses, each with the same exercises
done over the same order, to suit all body types.
Keen to showcase the idea, Jacqui managed to complete the program in record time.
10 reps up to 100 reps.
20 step-ups with the heavy weights.
Sit-ups here. The shoulder press.
-And the bike.
-Jacqui, you can probably stop now.
-Are you OK?
But for Peter Jones, it was the demo that exposed the problem.
You're looking to introduce another concept which is another play on a word,
ie, triathlon, octathlon,
and you think this is going to turn into a business.
There are aspects in it that can turn into a business.
You can make money for personal trainers, clubs and training providers.
But you can't own the concept of octathlon,
or the concept of an eight-series fitness training program.
But as so often happens in the Den,
it was the expert's analysis that proved the entrepreneurs' undoing.
14 years in the gym business...
Turnover of £100 million a year... I've been doing it all wrong.
I know what you're saying. The thing is, you go to the gym
and most people are fed up in there. They are bored.
They would love to have something to aim for.
OK, I mean, this is interval training.
-f you make it into a sport and it attracts sponsors -
-It's not a sport.
It's not going to happen. t's never going to happen.
I am out.
No investment for Rory and Jacqui. But what did they think of their pitch?
I felt I was going to war!
I had a battle on my hands!
A lot of information didn't come through
because they were probably held up with some basic concepts.
I just want to help people keep their fitness levels up,
enjoy their fitness more and have a reason to train.
Next into the Den is 25-year-old Tim Smith from Manchester.
He's looking for an investment of £300,000
in his family-owned footwear business.
Can he convince the Dragons to part with more money than they've ever invested before?
Hello, Dragons. My name is Tim Smith.
Today, I'm looking for an investment
of £300,000 for 10 percent equity.
Redfoot Shoes was launched in 2007
to create and develop innovative yet stylish footwear.
The first product is a folding rain boot.
This is a fully waterproof, fleece-lined boot
which, when folded up...
..is extremely compact,
and when it unfolds it regains its shape,
so it easily stands up.
Another product that we're known for is a folding shoe.
Ours is a patented split-sole shoe that fits into its own pouch,
which can be easily carried in a handbag.
We've developed it with a podiatrist, so it's extremely comfortable on the foot.
We're constantly inventing.
This year we're on target to achieve £2 million in sales
with a net profit of £400,000.
We're looking to the Dragons to provide added value, as well as a cash investment.
Thank you for listening to my pitch. If you've got any questions, I'll be happy to answer them.
A faultless pitch from Lancastrian shoe manufacturer Tim Smith
which he hopes will come in handy,
as he's asking for a £300,000 investment.
In return, 10 percent of his established footwear company is on offer.
Deborah Meaden looks impressed.
-Hi, I'm Deborah.
So far so good. It all sounds very interesting.
-On track for a turnover of £2 million.
-Can I see one? Maybe I'll get it in the construction.
-Can I have a boot?
-Can I have a shoe, Tim, please?
There you go.
The main difference, I get it now, you've got a solid sole, so it's actually a proper shoe.
-As opposed to a very soft slipper-type thing.
At the minute, there's nothing else on the market which has that split sole.
-I'm about to test it out.
In terms of your sales mix,
where are you finding the interest is?
The folding shoe is in more stores and we've had more interest with that.
The folding welly has been received really well with the retailers that we're in now -
VivaLaDiva online, and then 415 independents.
In Europe, Benetton have placed an order
of 10,000 pairs of the boot,
with £20,000 pairs of the folding shoe.
-But they cost less to make than the folding shoes.
-These cost less?
-So your margin's higher on these.
-Yes. The folding shoe cost £10 to make, selling for £15.
The boots cost £6 to make and we sell them £20.
Confident and composed, it's a good start for the young entrepreneur.
Duncan Bannatyne wants to drill down into the business itself.
OK, Tim, can you tell me,
-..what your turnover and profit has been over those three years.
-2007 - £150,000.
-2008 - £500,000.
2009 - £1 million.
2010 - £1.3 million.
Net profit... We made a loss of £80,000.
Minus 80. Yes.
-A loss of 20,000.
-A profit of 80,000.
And then a profit last year of 160,000.
-What's your projection for 2011?
-400,000 net profit.
Explain why that's going to jump from 160 to 400,000.
Because of the sales pipeline that we've got this year.
We've got just under 100,000 pairs forecasted for the end of this year, which we'll sell.
Tim, hello. I'm Theo.
-What's the background?
Who owns the business? How did you get here?
We've got three businesses.
-I run Redfoot and I work full time, 24/7 on Redfoot.
-My father has got a made-to-order footwear business, the Bacup Shoe Company.
It's high volume, low-margin stock. He's ran that.
-What's the other business?
-It's a warehousing business.
All right, so the three businesses are owned by...?
Er, well, the three businesses are owned by a holding company...
-..called Train Track.
Train Track's owned by my brother, myself and my father.
My brother and myself own 45 percent and my father owns 10 percent.
How are you going to do the deal here? Are you asking us to invest in the subsidiary?
-One last question.
-The Bacup Shoe Company...
How much does that turn over?
-Last year, it turned over just under 10 million.
-And made a profit of?
-It made a loss of £60,000.
But it's on track this year to make a profit.
-It didn't make one the previous year?
-And the previous year?
-Er, the previous year,
it, er, made... it made a loss.
I've got to stress, the made-to-order business had been making a profit up to 2008.
60 of its business was Woolworths, and when they went bust,
we had to very quickly get 60 percent more new business.
Openness and honesty is a must if you want a Dragon to invest.
But will the company's chequered financial history
prove a concern for Peter Jones?
Firstly, on the business and the pitch, congratulations.
Absolutely first class.
But I think by asking for £300,000 and valuing your business at £3 million,
it causes an issue.
But say that we do £200,000 in net profit this year, not £400,000
and you work on £200,000 over the next five years,
that's £1 million on top of the balance sheet of £850.
That's how I would see a valuation.
I don't think that's an unrealistic valuation.
I would value your business at, your net asset value today,
which is about 3-400,000.
-How do you get to that?
-Because of the losses you've accumulated to date.
The profit that you've done this year is fantastic.
But you need to have a little bit more historic proof
-to show that those earnings are sustainable to get a decent valuation.
I think it's too punchy to come in at £300,000.
It's not for me and I'm out.
Kind words, perhaps, but no cash.
Retail magnate Theo Paphitis is now ready to show his hand.
Tim, the thing that strikes me immediately with this product,
-.being a shopkeeper, is that they're brilliantly made.
You're a growing business, you've done really well,
but there's a complicated...
..structural ownership of the business.
-I don't think it is.
-Believe you me, if I invested,
I'm not investing with you, I'm investing with your dad and your brother.
-I don't understand what you mean in terms of Redfoot.
-It's owned by -
-The holding company.
Which would then pull my strings.
DUNCAN: Because they own it!
-Because they own it.
-You don't own it.
Well, I own it with my father and brother.
Right, that's it. Exactly. That's it!
I wish you the best of luck. You've got a decent product.
Can it be successful? No reason why it shouldn't be.
-But I can't invest. I'm out.
I-I've got to say,
I'm sure that you're going to have a very good future ahead of you.
If you were stood here as a 100-percent owner,
I might take more time to explore all of that.
-But I completely agree with Theo.
Becoming a minority shareholder in a family business
would leave me the junior partner,
and I'm not going to enjoy that!
So I've got to tell you, you nearly convinced me,
-but I won't be investing, Tim. I'm out.
-All right, thanks.
Two more Dragons walk away from the deal.
But Tim still has two investors left.
Will the valuation prove a sticking point for Hilary Devey?
It's an incredibly competitive and incredibly complicated market.
The competition is so fierce that, yes, if you do get it as a brand,
there'll be another one next week that'll be equally good as yours.
-It's not for me. Therefore, I'm out.
-Tim, you've put a very high value on the company.
You've got one of the most difficult businesses to make money in, the shoe business.
-The number of sizes you need, the number of different lines, it's just phenomenal.
Erm... I can't invest,
-and so for that reason, I'm out.
The Dragons may have been impressed with his business,
but not the investment opportunity.
Tim leaves with nothing.
I think the share structure is difficult to understand.
My brother and father not being here probably was a negative,
because they own the business, as well.
I still think it's a fair valuation,
but they thought it was too much risk
for what I was asking for.
So far tonight, the Dragons have been unconvinced by the business ideas pitched before them.
What's sad about it is, I love all these types of things,
but it just doesn't do it for me. I'm out!
If you'd like to know more about how the brave entrepreneurs make it to the Den,
press the red button at the end of the programme.
Each year, the Dragons get to see a plethora of different contraptions
that solve a multitude of problems.
Malory Maltby came in with his reinvention- of-a-wheel-shaped handle.
If I do this...
..it's very easy to bring in something light.
What you can do with this
is to undo it
and turn it from a wheel into a lever,
and that gives me about five times the leverage.
In fact, those blocks are moving with just one finger.
An intrigued Peter Jones wanted to know more about the serial inventor.
Malory, I just want to ask you to be clear.
You came in and pitched for £50,000, 20 percent of Malory,
-not 20 percent of this product.
-So 20 percent of everything you invent.
I've got 16 potential patents.
They vary from a system for building houses,
to a new type of bra.
I've got another one that's going through the patent process now -
-Can you talk to me about those?
-No, I can't.
I tell you why that's hard to evaluate...
-If I'm investing 20 percent into Malory...
..instead of asking you business questions, I'd have to ask,
"How's your health? What's your fitness like?
-"Would you consider an exercise regime?"
Charmed as they were, it was Theo Paphitis who summed up the mood amongst the Dragons.
-Where do you live?
-In the middle of France.
I wish you lived next to me! I have so many really weird ideas.
If only there was somebody around I could give them to and say, "Concentrate on that."
But unfortunately, I live in Surrey.
I can't take away from you what you've done, it's marvellous,
but it doesn't do anything much different to what's out there at the moment.
I'm going to wish you the best of luck and say I'm out.
Liverpool-based Kenneth Cheung came into the Den needing £50,000
to expand his range of educational recycling products.
The is the world's smallest composting system.
A child would add an apple core and then one of these special space composting worms.
Afterwards, they will add one of these magic beans
and it will grow out with a little message on the beam.
At first, Deborah was rather impressed with the offering.
-What did you mean by, "You get a message on the plant?"
-Would you like to see?
-That grows with that message on it?
Can you see that? That's quite neat.
But the joy was short-lived
as the Dragons soon uncovered flaws
with the business behind Kenneth's products.
How are we going to make a profit if I put £50,000 into your company?
In the first year, we have £40,000 turnover.
Next year, with your help,
we will get a £700,000 turnover.
Right now, I have 35 outlets. In 2012, we're thinking 250.
-Kenneth, the investment you've asked for today is more than you're turning over!
To have that many customers for such small turnover
is against every rule any of us have ever lived by!
To grow that to thousands of them is a logistical nightmare
when you're turning over so little.
That's not a business plan. That's a road to rack and ruin.
You get that feeling when somebody's got entrepreneurial talent, which you have,
but I would think of something else, do something else. Get rid of the stock you've got.
As an investment, it's just not there.
I'm going to say I'm out.
The rival investors aren't renowned for always seeing eye to eye,
so you might think a product aimed at resolving disputes would be of interest to them.
Edinburgh's Karen Chapman certainly hoped so,
as she asked for a £75,000 cash injection.
My first product is Squibble Don't Squabble,
which, as the name suggests,
is designed to solve family squabbles.
It's based on drawing the short straw.
The straws are all different lengths.
From the outset, Duncan Bannatyne couldn't even agree with the concept.
What problem does it solve?
-But a squabble over what? How does it solve the problem?
Who sits in the middle car seat - that's a common one in our house.
I've brought up six children, and if Kid A sat in the middle,
Kid B would say, "I'm sitting there tomorrow."
And Kid C would say, "I'm sitting there tomorrow."
Although the squabble is sorted now, it won't be sorted tomorrow.
Kid A would say, "I won the squibble, so I'm sitting here tomorrow."
So you would still have a squabble about a squibble!
But in the end, there was no disputing the fact
that none of the Dragons saw a financial future in Karen's invention.
What price are you selling it into the retailers?
-How much does it cost me?!
-We're getting there.
Your ratios are all over the place.
To make a pound on consumables is one thing.
To make money on something that's a one-off purchase
is a different thing altogether.
So £75,000... It'd be a long time before I saw that money back.
Good ideas, but think through the business plan.
Many good entrepreneurs identify a problem and invent a solution.
The questions to ask are - does the problem really exist and does the solution work?
Next up is surveyor Helen Waterston,
hoping to grab the Dragons' attention with her innovative kitchen product.
Hello. My name is Helen Waterston.
I'm here today to ask for your consideration
in investing £70,000 for ten percent of my company,
Innovative Gadgets Ltd.
Roastcosy was created
basically from my own desire to create reusable tin foil
to rest my Sunday roast.
It's a high-quality stainless steel chain mail
that you simply drape over the actual meat.
It has extra rings at each corner
and also a small stainless steel label in the middle,
which makes it very easy to take off any food with any kind of fork.
And the special thing about it, apart from being environmentally friendly,
it reduces shrinkage.
Because the meats are covered,
the moisture is retained.
I'm already talking to Whitbread, who have over 400 outlets,
in trialling this in a number of their taverns and restaurants.
Motherwell-based inventor Helen Waterston
is hoping to whet the Dragons' appetite to the tune of £70,000
to launch her innovative cooking aid.
It's like a coat or armour.
In return, she's offering ten percent equity.
Peter Jones is first to question the hopeful entrepreneur.
Let me get this right. This is something you wrap around your chicken
-before you put it in the oven?
-It is prior, during and after.
-And have you invented this?
I went out to search this on the market and I couldn't find anything like it.
I had in my head what I wanted to find and I couldn't find it.
And I basically started off by laminating marathon blankets
-to try and get a reflective surface.
Why is it environmentally friendly?
Because it substantially reduces the need for tin foil.
-Tin foil is non-degradable -
-OK. I get that.
Let's take it that this is the next best thing.
What's the difference in cost of this, compared to a lifetime of tin foil?
Tin foil is very expensive. Erm...
-How much is it?
-Tin foil's about, well, £2.80 per domestic roll.
OK. And how much is your product?
The product itself retails at £29.95.
-It has a lifetime guarantee.
But the key to this is that foil is not environmentally friendly.
-It doesn't break down in landfill sites.
-Helen, I'm asking the questions. Yes?
£29.95. What does it cost to make?
-It costs you 14 pounds?
Assured and informed responses,
but will Helen maintain her poise
under the scrutiny of Hilary Devey?
I've got to say, I like it.
If it didn't cost £29.95, I'd probably rush out and buy one tomorrow.
That is my stumbling block and I know that, from a wholesale point of view,
I would rather have it more affordable.
But I'm trying to be realistic about the prices
and, obviously, if I could get a repricing structure,
then I would be able to retail it and wholesale it at a more affordable price.
-Have you approached retailers with them?
-I haven't been able to
because I wouldn't approach a retailer without having a supply that I could afford.
So, you're really in the very early stages?
Very early stages of getting the new prototypes through.
I've got a situation where I've finally made a good-quality contact in China
and I can now buy it at half of the price
I'm currently buying it.
Can I say, Helen, I don't actually cook,
and I find myself surprisingly interested in something you use to cook,
-because I have no affinity to it whatsoever.
But I absolutely know
that my husband would think that was a really great thing.
What I would like to understand is,
can this do more, different or less than silver foil?
Compare those two for me.
Roastcosy is an incredibly high-quality stainless steel.
In this roasting process, it, I would say, achieves better results
because it has the ability to brown and crisp through the interlocking rings.
Also, in the basting process, you'd have to lift foil off,
you can baste through this Roastcosy without lifting it off,
which is a great advantage.
Whilst her product seems to have gone down well in the Den,
the Lanarkshire-based inventor has yet to receive an offer for her business.
Will Duncan Bannatyne be prepared to invest the £70,000
she badly needs?
-I just want you to explain something to me.
About three weeks ago, I put a Sunday roast in.
-I took it out the oven.
-Put it on the table, I carved it and we ate it.
It was lovely. Now, there was no tin foil on it.
Most chefs recommend that all meat is rested for a certain period of time.
When these chickens were cooked, this one was visibly larger.
This one lost its moisture more than this one.
-Although it's lots its moisture...
-In losing moisture, it shrinks.
-Therefore, you're losing meat.
-You're losing moisture.
All the chicken has done is lost some moisture.
But it depends on your argument against things like tenderness and succulence.
What makes something taste good?
So if you cook with the Roastcosy, because of the interlocking rings,
it allows the heat to permeate and brown and crisp the chicken.
You don't get that with foil.
And you can see that it has a venting action,
so any steam can vent, but not as much as leaving a bare chicken to roast.
Is this a cooking lesson?
It's turning into one. I think it's so ludicrous, but...
So you put this on it and it makes it cool slower,
but the whole point of resting it
is to cool it so the moisture comes back out, so it defeats the object.
Helen, I'm out.
Helen's first criticism and her first loss.
And it looks like Peter Jones has made up his mind, too.
-I think you've got a great product, I really do.
It's not often that people bring out products that are innovative,
and I think you've got that.
The issue is that I think you've asked for a huge amount of money
that potentially isn't needed, erm,
and a very, very small share.
I think you should've mixed it the other way - asked for less, given away a bit more
to get something like this to have the chance of getting off the ground.
The only way I can deal with that
is to make you an offer...
..of half the money.
But I want in return for that...
..24 percent of the company.
In a surprising about turn,
Peter Jones has made an offer, but for more than double the equity
and just half the £70,000 she requires.
Strict Den rules state she must receive the full amount or she walks away with nothing.
Will Theo Paphitis be prepared to put up the balance?
I like it.
The problem I've got is, I've never cooked.
I'm sitting here thinking, "It sounds too good to be true."
But I haven't got a clue whether this works or not.
So this is not something I could invest in.
I'm going to wish you the very best of luck
-and say I'm out.
I've got to say, I think it could become a household brand.
In ten years' time, there could be one in every home.
But you've got to get it to market first
and I think a 70k investment won't be anywhere near enough to get this out there.
I think you're looking at more like 250.
And so for me, it's too high a risk. Sadly, I've got to say I'm out.
Helen is fast running out of Dragons
to secure the vital final offer of £35,000.
Her investment hopes now rest solely with Deborah Meaden.
You've identified the issues, clearly issues over price,
and it sounds like there might, therefore, be issues over supply.
You are quite a way from getting it out onto the shelves.
You have a name, but you don't really have any brand.
So there's quite a big step between this -
This is why I'm here. I totally understand that.
Yes, I'll match Peter's offer.
Would you be willing to slightly negotiate on the percentage?
Would you consider 20 percent each?
You've clearly invented a product that could sell extremely well.
Let's say it's just high risk.
48 percent is, in my opinion, not bad.
Well, I think I value your input, er, so much,
that I would be delighted to accept.
Well done. Might get my trying to cook a chicken!
Helen's done it. It cost her a lot of equity,
but she's secured the backing of two influential business leaders.
Helen, very well done. Two investors. Is that two more than you thought you would have?
It s. I don't think it's sunk in yet. But there's a bit of a journey still to go.
You got your full offer, but it is pretty well half the business you've given away.
I know, but I think you can't quantify or value the amount that they bring to the table,
and that was really what I was aiming for.
-Very good luck indeed.
So the doors close for another year, and what a year it's been.
We've seen new Dragon Hilary Devey make her mark,
and, collectively, the Dragons have offered over £1 million in investment.
The pitches may have come to an end for the time being,
but the hard work for the entrepreneurs
and our multimillionaires continues.
This year, Dragons Den welcomed thousands of applications
from Britain's best and brightest entrepreneurs.
-What's the projection?
-Five million turnover.
People can't copy what we have.
They can't copy the passion that we've got and the amount of lives we've changed.
I try to create magic for people.
Give me a chance and I'll make magic products that the world will buy.
Armed with their money-making ideas,
they had a once-in-a-lifetime opportunity to pitch to the multimillionaires.
I'm not totally convinced on the actual business.
What I am absolutely convinced on is the three people standing in front of me.
Without listening to what the other Dragons have got to say, I'd like to make you an offer.
The Den is where deals are made, and this summer we've seen the Dragons shake hands
on offers of investment worth more than £1 million.
I'm going to make you an offer that demonstrates that I'm excited.
It'll be better than any other offer.
Sorry, I was expecting one offer, let alone two on the table.
I think you'll both be very successful, and I also think you'll both be very rich at the end of it.
-Over 10 episodes, a total of 26 entrepreneurs
moved one step closer to realising their business dreams.
First to pitch this series was Georgette Hewitt.
-But it was a presentation she'd probably rather forget.
Basically, I've got, erm, around,
2,500 suppliers... erm, 25 suppliers. Erm...
I'm sorry. I can't. I'm sorry. I completely lost it. I'm sorry.
I'm sorry. Please can I start again?
But in one of the biggest comebacks the Den has witnessed,
she went on to secure not one but two Dragon investors.
I'm so embarrassed about how my pitch went. I'm mortified.
I'm going to be watching reruns in ten years' time with my children and be cringing.
-This is an important decision!
-And so for that reason, Chris,
I'm withdrawing my offer and I'm out.
The Den wouldn't be the same without the odd disagreement,
and this series hasn't disappointed.
-Please let me finish, Theo.
-No! Not unless you answer my question!
-It hasn't changed!
-If it hasn't changed, it hasn't changed!
-And I was part of that.
I'm a refugee of that. Sorry.
I'm totally out.
However, Glenn's pitch for his tanning aid
was a little unusual, to say the least.
I've got no sales figures, no bookwork whatsoever,
but what I do have is a potential target market that I think is colossal.
Who wouldn't want to look a little bit better for £20?
Thank you. Any questions?
Deborah Meaden tried her best to entice a more business-like approach.
I wouldn't for one second consider investing in you
unless you could give me something that said,
"I've got more than something that I did 20 years ago and left in my garage."
That's a very good point. A very valid point. But I don't know what else to say.
But with Glenn, admissions kept on coming.
You're probably going to ask me about a business plan. How do I know? I ain't got a clue!
It's taken you 14 years to send an email?
No. I disagree. I disagree. It has, yes, technically.
-When you lie on a sunbed, you put this on top of you?
-But most sunbeds now are stand-up sunbeds.
-So, what happens then?
-They fall off.
Despite all his charm, Glenn failed to part the Dragons from any cash.
I'm a bit lost for words.
I don't think this will sell for £20. I'm out.
It would give me no more greater pleasure than to prove Duncan wrong.
If you're watching, Duncan, I'll do you a special discount.
But this series will probably be remembered most for one thing. It was the year of the new Dragon.
Hi, I'm Hilary.
Successful businesswoman Hilary Devey
brought with her a new sense of style
and a choice of words never before heard in the Den.
You would make my foot itch, mate!
Passion doesn't create profit.
-Marketing expertise is what I need.
-I can give you that. Move on.
-Help me strategy -
-Fine. Move on.
And frankly, the beast doesn't change.
When that beast is hungry, it wants feeding.
I still have not got a clue how your turnover's broken down!
We're on Planet Earth in Dragons' Den!
I had a hand in any business venture that my father had.
By the age of 11, I could run a set of weekly accounts,
balance tills, run bars.
So, how did I get into business?
I was dragged in to it and I had no choice.
I don't suffer fools gladly.
If that upsets people, then tough, because that's business.
I like Hilary. She's very straight talking.
She says it how it is. She's a great addition to the team.
She was a new Dragon on the first couple of days. She's not new any more.
She's a Dragon.
-I look forward to working with you.
-Hilary, we'd like to accept your offer.
Hilary shook hands on four deals in the Den.
I'm in the Den
to diversify my portfolio of business interests.
Hilary, we're in business together! Well done.
But it was her first that proved she's prepared to put her money where her mouth is,
even if her rival Dragons disagreed.
The Duvalay Sleep System is really simple.
It has a special memory foam base, which smooths out the lumps and bumps in hard caravan seats.
Liz and Alan Colleran's confusion over their numbers
riled most of the multimillionaires.
How much do you think you spend a year when you say you don't spend any money on anything?
-I don't know.
-You don't know? Dunno!
But luckily for the husband-and-wife team,
there was one Dragon prepared to swim against the tide.
You need some input to help you with the direction.
But unlike Deborah, I don't think that's the end of the world.
I've got people that can teach you that and keep their finger on the button.
I'll offer you the full amount, but I want 26 percent.
How are we doing? CHATTER
After returning home to Dewsbury,
Liz and Alan had kept their success in the Den a closely-guarded secret.
Today's the day we've been waiting for. We're really excited. Looking forward to it.
Who's for a beer?
They invited a group of family and friends round to watch how they got on.
DEBORAH: "I've got no problem with people getting passionate,
"but, Liz, you border on the defensive.
"I can't invest."
-"I'm sorry, Deborah."
-"And for that reason, I'm out."
"Just one Dragon remains. Has Hilary Devey seen anything..."
Come on, Hilary! CHEERING
"I'll offer you the full amount, but I want 26 percent."
It's been a long road and look where we are.
We've been on Dragons' Den. We've got a multimillion-pound investor. It feels good.
They've put so much work in, it's about time they got a break.
-It really is.
With Liz and Alan's proud sons by their side,
the future looks bright for the Colleran family firm.
As the Den closes its doors, the Dragons have agreed to share their secrets for success.
We've seen their tips on pitching and negotiating.
This week, How To Win In The Den examines money-making ideas...
Think outside the box.
..and looks again at the some of the products...
Bit gimmicky. I think people might buy it.
..that have graced the Den.
It never ceases to amaze me.
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