Episode 10 Dragons' Den


Episode 10

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These are the Dragons,

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five of Britain's wealthiest and most enterprising business leaders.

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They're about to make or break the dreams of dozens of budding entrepreneurs.

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You may well sell a few. But commercially... No, love.

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14 years in the gym business...

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Turnover 100 million a year... I've been doing it all wrong.

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So far so good. It all sounds very interesting.

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On track for a turnover of two million this year.

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That's not a business plan. That's a road to rack and ruin.

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That's a real frustration.

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The only way I can deal with that is to make you an offer.

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The multi-millionaire investors have each built up their fortunes from scratch.

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Hotel and health club owner Duncan Bannatyne.

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Leisure industry expert, Deborah Meaden.

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Retail magnate, Theo Paphitis.

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Telecoms giant, Peter Jones.

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And Hilary Devey, who made her millions in the haulage industry.

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The Dragons have the credentials, the contacts, the commitment and the cash

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ready to invest,

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but only in the right business.

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Will any of these hopeful entrepreneurs walk away with their money?

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Welcome to the Dragons' Den.

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For the last nine weeks, the Dragons have been in formidable form

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and today, the doors open for the last time this year.

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Our final set of entrepreneurs

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are waiting to face the multimillionaires

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in the hope of securing an investment

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that could make their business fortune.

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As we've seen, pitching in the Den is a daunting prospect,

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but a lucky few walk away with a life-changing outcome.

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Long-term business partners James Eadon and Chris Ollivier are first into the Den

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with a new product they think will stand out from the crowd in the toy industry.

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Hello, everyone.

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My name is Chris and my colleague is James.

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We are founder members of a company called Culica Limited.

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We're looking for £80,000 in return for 10 percent equity in the company.

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-James...

-Hello, everybody. I'm the inventor of the Culica.

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The Culica is the greatest game invention since playing cards and chess.

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You play with pegs and the pegs slot into the Culica

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and you play by putting pegs in according to different rules.

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These games have names like CuColours, CuMolecula, CuSnakes,

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CuMatch

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and CuCombat.

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And the great thing about the Culica is,

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you can play are multiplayer games or single-player games.

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It's much of a touchy-feely-type game,

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so the best way to get to know it

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is if you want to complete a semi-started game,

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-James will explain.

-Let's go.

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-Thank you.

-No problem. Thank you.

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-What do I have to do?

-We'll explain in a second.

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-There's a bag.

-A bag?

-Yes.

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-I'll watch.

-You're going to watch. Anyone else want to?

-Thank you.

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-Each bag has a different colour in.

-That's right.

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The rules are, you have to get four in a row straight,

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or three in a row diagonal.

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-Three in a row diagonal.

-But not by moving ones that are already in.

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-You never said that!

-And pass on the Culica to the next person along in the row.

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I see. So, I've only got green? So, I take one out?

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I'm going to put the green one in there.

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-Duncan's trying to get four in a row.

-And we're trying to stop him?

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-That's right.

-Or get four before him.

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-I'm going to block him. There you go.

-Good block.

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-I've blocked him.

-SHE CHUCKLES

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-That wins.

-Very good.

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All right, so you set it up so just one...

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-I don't even get a go!

-I think Duncan moved one of the yellow pegs.

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I won. Just leave it. I won the game!

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The problem was, Duncan went first!

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Competition amongst the Dragons is not unusual in the Den.

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But former work friends, James Eadon and Chris Ollivier, hope to turn it to their advantage

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with a demonstration of their new multigame cube.

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They're looking for £80,000 to establish it on the market.

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A bewildered Peter Jones is first to question the duo.

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Hi, I'm Peter.

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When you were doing your pitch, you were doing...

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THEY LAUGH

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What on earth was that?

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I was simply doing some gestures.

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Cusnakes is like a snake, so this is a snake.

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-Right.

-Combat...

-Right.

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-But what's that?

-That's my impression of somebody doing a combat move in a martial art.

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But that has nothing to do with the game itself?

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That was more demonstrating the word.

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-Word association.

-You articulate word association so that we might get it?

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-Obviously, that was a failed strategy.

-Ohh!

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-James, Chris, hi. I'm Deborah.

-Hi, Deborah.

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The first thing I want to understand is where the business is at the moment.

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Are you already in production and selling them,

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or is this still at prototype?

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-No, we have our first production run arriving in the country at the moment.

-Yes.

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We have 5,000 ordered.

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Our online store has been opened literally a few days.

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Are you selling to any retailers? Have you approached any?

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-We have a distributor doing that for us.

-OK.

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And where are they? Have they approached anybody? Taken any orders?

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We have a firm offer, if not a formal order, from Lakeland.

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They've given us the paperwork and bought 800 units,

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-with another 200 to 400 to follow.

-But there's no order number on it yet.

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And the distributor... Give me an idea of how much they think

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they're going to sell of this game.

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I can't give you concrete numbers, because it's not a science, but -

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The best way of saying it, then, is, erm,

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-of the games that they sell...

-Yes?

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..how many will they sell of a very successful game?

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They're selling into all the major distributors -

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Take one of the games that they currently sell

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and tell me what they consider good sales.

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We don't know.

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The jovial atmosphere is long gone

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as more pressing business concerns come to the fore.

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Theo Paphitis is not looking impressed.

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OK. You're obviously incredibly passionate about it.

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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.

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Your order book doesn't say people think they want to take it home and play with it.

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You have to bear in mind that we are new. We've just come onto the market.

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And we got interest from Hamleys, and our distributor said

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that Hamleys never stock anything from a new company before it's selling.

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Let me just tell you. You seem to have stumbled upon somebody

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who tells you what you want to hear.

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If I may... Essentially, what we're dealing here with is a revolutionary product.

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In marketing speak, we call it a disruptive technology.

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Our strength and weakness is, it's a novelty.

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My opinion is, this game is going to get popular.

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There'll be early adopters, chess, bridge and poker players, people who like mind games.

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Parents will buy it because it gets kids away from the telly.

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This game makes you smarter.

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This invention is going to set the toy world on fire!

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It's going to make millions in a short amount of time.

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EVAN: A bold and passionate fight back from the creative brain of the business.

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But will James's steadfast belief in the product

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be shared by Hilary Devey?

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Chris, James, have I got this right,

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you've actually got 5,000 of this product on the sea, on its way to you now?

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No, it's actually in our warehouse.

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-You've got it?!

-Yes.

-In theory.

-And we're selling.

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Bear in mind, we're investing our own money, and it's money we can afford to lose.

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So we're taking a business risk and it's on our heads.

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The amazing thing is, we've got intent form Hamleys.

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-That's unprecedented. This means they must really love the prototype.

-No, no, no, no, no.

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-They're in the toy industry and they buyers.

-James. James, stop talking, please.

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-They also -

-Chris, don't start when he stops.

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I want to ask you one question.

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Do you want me to be polite or honest?

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We're always looking for honest feedback. We've had very positive.

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It's the most boring game I have ever seen.

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You would play it twice at the very most.

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And for that reason, I'm out.

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A first blow for the plucky duo

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as an indignant Duncan Bannatyne walks away from the deal.

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Now, Theo Paphitis is ready to have his say.

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OK, the games market is incredibly competitive.

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Your peak selling period, which is Christmas, is when you sell most of your toys.

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Do you know what they do? They discount them.

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So you kill your margin at the time you're selling most of your product.

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It's nuts. And you will find this out as you get big orders

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from these retailers you hope to get.

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You've got some stock, not a huge amount, 5,000 units.

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You'll know within those units whether you've got a business here and whether we're right or wrong.

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If we're wrong, you won't need the money. If we're right, we've saved our money.

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But I'm going to have too say, I'm out.

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Chris, James. You may well sell a few,

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you might sell the 5,000 that have landed today.

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But commercially... No, love. No.

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I don't think it's going to be the market leader that you protest it will be.

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It's not investable product for me. I'm sorry, I'm out.

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Two more Dragons out.

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The duo's Den fate lies in the hands of Deborah Meaden and Peter Jones.

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Will they find a reason to invest £80,000?

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Erm... I don't know.

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I can only go on gut reaction. You're clearly smart guys.

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You might have invented the next great thing.

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The problem for me is,

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I didn't find it that exciting.

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I'm out.

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Guys, what's sad about it is, I love all these types of things.

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From the Rubik's Cube as a kid, all the way through,

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I've always had these sort of things.

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I don't know whether it's the game

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or the way you've put it across, but it just doesn't do it for me.

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You've got to make a decision. Do I want to invest my money? Would I buy one?

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I'm weighing those questions up. Firstly, I wouldn't buy one.

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Secondly, I wouldn't invest my money.

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I'm going to say I'm out!

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-DRAGONS: Good luck.

-Would you like a business card?

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-No. Off you go.

-No. Just... The stairs are there.

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Thank you. Good luck, guys.

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James and Chris's enthusiasm for their product

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may have won the affection of the Dragons, but not their cash.

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The duo leave with nothing.

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When asked the Dragons to play, what we didn't anticipate, which was a disaster,

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was Duncan started rearranging the pegs.

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Moving them all over the place.

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We'll take on board their criticisms

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and we'll analyse them and reanalyse them,

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and if we don't get too much cognitive dissonance,

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we might actually learn something!

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It's not often that the Den gets to discuss the finer points of the National Health Service.

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But pharmacist Rob Forde and business partner Dr John Blenkinsopp

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caused a stir with their plan to transform the dispensing of repeat prescriptions.

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They wanted £75,000.

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Medicines Direct is a novel way for patients on long-term medications to gain access to their prescriptions.

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What we will be doing is allowing patients to order their medicine over the telephone

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and in that way, drive down wastage.

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Things seem to start well for the medical pair.

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Lots of words I like to hear there. Reducing waste, improving quality, all of those things.

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If I was a partner is a GP service, how much money would I save?

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We estimate that we'll save between seven and 17 percent

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on the current drug budget.

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But the atmosphere soon soured, as the business concept seemed to hit a nerve or two.

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I have no interest in something

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that does exactly the opposite of what patients actually need.

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I believe that the GP should have the ability to know his patient,

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should be reviewing his patient, and not somebody at the end of a telephone.

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I would beg to disagree. The person who writes the most prescriptions

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in an average GP practice is actually the receptionist.

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We want to deliver the right drug for the patient, for the condition every time,

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and that's just not happening today.

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Despite conflicting opinions, it was Hilary Devey who discovered the business flaw

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that ultimately sealed Rob and John's fate.

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In two years, you've got one GP practice on board.

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In the early stages, what we were doing was testing our model.

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We're on the point now for launch really.

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You're too early. You should've been here next year

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and said, "We've signed up 30. Do you want to put this money in?" Because I would have.

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-The timing could have been better.

-Therefore, you can't have my £75,000.

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-Thank you.

-I'm afraid I'm out.

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Easily the most athletic pitch came from Wiltshire-based husband- and-wife team Rory and Jacqui.

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They hoped the Dragons would invest £50,000 in their new sport concept for gyms.

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I believe people are competitive and enjoy training for a goal.

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The Optathlon is a race of eight gym exercises.

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We've created 15 different courses, each with the same exercises

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done over the same order, to suit all body types.

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Keen to showcase the idea, Jacqui managed to complete the program in record time.

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10 reps up to 100 reps.

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20 step-ups with the heavy weights.

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Sit-ups here. The shoulder press.

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-And the bike.

-Jacqui, you can probably stop now.

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-Are you OK?

-Yes!

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But for Peter Jones, it was the demo that exposed the problem.

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You're looking to introduce another concept which is another play on a word,

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ie, triathlon, octathlon,

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and you think this is going to turn into a business.

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There are aspects in it that can turn into a business.

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You can make money for personal trainers, clubs and training providers.

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But you can't own the concept of octathlon,

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or the concept of an eight-series fitness training program.

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But as so often happens in the Den,

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it was the expert's analysis that proved the entrepreneurs' undoing.

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14 years in the gym business...

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Turnover of £100 million a year... I've been doing it all wrong.

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I know what you're saying. The thing is, you go to the gym

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and most people are fed up in there. They are bored.

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They would love to have something to aim for.

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OK, I mean, this is interval training.

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-f you make it into a sport and it attracts sponsors -

-It's not a sport.

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It's not going to happen. t's never going to happen.

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I am out.

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No investment for Rory and Jacqui. But what did they think of their pitch?

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I felt I was going to war!

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I had a battle on my hands!

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A lot of information didn't come through

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because they were probably held up with some basic concepts.

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I just want to help people keep their fitness levels up,

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enjoy their fitness more and have a reason to train.

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Next into the Den is 25-year-old Tim Smith from Manchester.

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He's looking for an investment of £300,000

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in his family-owned footwear business.

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Can he convince the Dragons to part with more money than they've ever invested before?

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Hello, Dragons. My name is Tim Smith.

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Today, I'm looking for an investment

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of £300,000 for 10 percent equity.

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Redfoot Shoes was launched in 2007

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to create and develop innovative yet stylish footwear.

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The first product is a folding rain boot.

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This is a fully waterproof, fleece-lined boot

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which, when folded up...

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..is extremely compact,

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and when it unfolds it regains its shape,

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so it easily stands up.

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Another product that we're known for is a folding shoe.

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Ours is a patented split-sole shoe that fits into its own pouch,

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which can be easily carried in a handbag.

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We've developed it with a podiatrist, so it's extremely comfortable on the foot.

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We're constantly inventing.

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This year we're on target to achieve £2 million in sales

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with a net profit of £400,000.

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We're looking to the Dragons to provide added value, as well as a cash investment.

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Thank you for listening to my pitch. If you've got any questions, I'll be happy to answer them.

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A faultless pitch from Lancastrian shoe manufacturer Tim Smith

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which he hopes will come in handy,

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as he's asking for a £300,000 investment.

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In return, 10 percent of his established footwear company is on offer.

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Deborah Meaden looks impressed.

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-Hi, I'm Deborah.

-Hi, Deborah.

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So far so good. It all sounds very interesting.

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-On track for a turnover of £2 million.

-That's right.

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-Can I see one? Maybe I'll get it in the construction.

-Can I have a boot?

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-Sure.

-Can I have a shoe, Tim, please?

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There you go.

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The main difference, I get it now, you've got a solid sole, so it's actually a proper shoe.

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-That's right.

-As opposed to a very soft slipper-type thing.

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At the minute, there's nothing else on the market which has that split sole.

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-I'm about to test it out.

-That's great.

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In terms of your sales mix,

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where are you finding the interest is?

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The folding shoe is in more stores and we've had more interest with that.

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The folding welly has been received really well with the retailers that we're in now -

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VivaLaDiva online, and then 415 independents.

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In Europe, Benetton have placed an order

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of 10,000 pairs of the boot,

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with £20,000 pairs of the folding shoe.

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-But they cost less to make than the folding shoes.

-These cost less?

-Yes.

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-So your margin's higher on these.

-Yes. The folding shoe cost £10 to make, selling for £15.

0:22:010:22:07

The boots cost £6 to make and we sell them £20.

0:22:070:22:13

Confident and composed, it's a good start for the young entrepreneur.

0:22:140:22:19

Duncan Bannatyne wants to drill down into the business itself.

0:22:190:22:24

OK, Tim, can you tell me,

0:22:250:22:27

-since 2007...

-Yes.

-..what your turnover and profit has been over those three years.

0:22:270:22:32

-2007 - £150,000.

-Yes.

-2008 - £500,000.

0:22:320:22:37

2009 - £1 million.

0:22:370:22:39

2010 - £1.3 million.

0:22:390:22:42

Net profit... We made a loss of £80,000.

0:22:420:22:45

Minus 80. Yes.

0:22:450:22:47

-A loss of 20,000.

-Yes.

0:22:470:22:48

-A profit of 80,000.

-Yes.

0:22:480:22:50

And then a profit last year of 160,000.

0:22:500:22:54

-What's your projection for 2011?

-400,000 net profit.

0:22:540:22:58

Explain why that's going to jump from 160 to 400,000.

0:22:590:23:03

Because of the sales pipeline that we've got this year.

0:23:030:23:06

We've got just under 100,000 pairs forecasted for the end of this year, which we'll sell.

0:23:060:23:12

Tim, hello. I'm Theo.

0:23:120:23:14

-Hi, Theo.

-What's the background?

0:23:140:23:17

Who owns the business? How did you get here?

0:23:170:23:19

We've got three businesses.

0:23:190:23:21

-I run Redfoot and I work full time, 24/7 on Redfoot.

-OK.

0:23:210:23:26

-My father has got a made-to-order footwear business, the Bacup Shoe Company.

-OK.

0:23:260:23:32

It's high volume, low-margin stock. He's ran that.

0:23:320:23:38

-What's the other business?

-It's a warehousing business.

0:23:380:23:41

All right, so the three businesses are owned by...?

0:23:410:23:45

Er, well, the three businesses are owned by a holding company...

0:23:450:23:49

-OK.

-..called Train Track.

0:23:490:23:52

-Train Track?

-Yes.

-Go on.

0:23:520:23:54

Train Track's owned by my brother, myself and my father.

0:23:540:23:59

My brother and myself own 45 percent and my father owns 10 percent.

0:23:590:24:03

How are you going to do the deal here? Are you asking us to invest in the subsidiary?

0:24:030:24:08

In Redfoot.

0:24:080:24:10

-One last question.

-Yes.

-The Bacup Shoe Company...

-Yes.

0:24:100:24:14

How much does that turn over?

0:24:140:24:16

-Last year, it turned over just under 10 million.

-10 million.

0:24:160:24:20

-And made a profit of?

-It made a loss of £60,000.

0:24:200:24:24

But it's on track this year to make a profit.

0:24:250:24:27

-It didn't make one the previous year?

-No.

0:24:270:24:29

-And the previous year?

-Er, the previous year,

0:24:290:24:33

it, er, made... it made a loss.

0:24:330:24:36

I've got to stress, the made-to-order business had been making a profit up to 2008.

0:24:360:24:41

60 of its business was Woolworths, and when they went bust,

0:24:410:24:45

we had to very quickly get 60 percent more new business.

0:24:450:24:50

Openness and honesty is a must if you want a Dragon to invest.

0:24:530:24:57

But will the company's chequered financial history

0:24:570:25:00

prove a concern for Peter Jones?

0:25:000:25:03

Firstly, on the business and the pitch, congratulations.

0:25:060:25:09

Absolutely first class.

0:25:090:25:12

But I think by asking for £300,000 and valuing your business at £3 million,

0:25:120:25:17

it causes an issue.

0:25:170:25:20

But say that we do £200,000 in net profit this year, not £400,000

0:25:200:25:24

and you work on £200,000 over the next five years,

0:25:240:25:27

that's £1 million on top of the balance sheet of £850.

0:25:270:25:31

That's how I would see a valuation.

0:25:310:25:34

I don't think that's an unrealistic valuation.

0:25:340:25:38

I would value your business at, your net asset value today,

0:25:380:25:43

which is about 3-400,000.

0:25:430:25:46

-How do you get to that?

-Because of the losses you've accumulated to date.

0:25:460:25:50

The profit that you've done this year is fantastic.

0:25:500:25:53

But you need to have a little bit more historic proof

0:25:530:25:56

-to show that those earnings are sustainable to get a decent valuation.

-OK.

0:25:560:26:01

I think it's too punchy to come in at £300,000.

0:26:020:26:08

It's not for me and I'm out.

0:26:080:26:09

Kind words, perhaps, but no cash.

0:26:130:26:16

Retail magnate Theo Paphitis is now ready to show his hand.

0:26:160:26:22

Tim, the thing that strikes me immediately with this product,

0:26:250:26:30

-.being a shopkeeper, is that they're brilliantly made.

-Yes.

0:26:300:26:34

You're a growing business, you've done really well,

0:26:340:26:37

but there's a complicated...

0:26:370:26:40

..structural ownership of the business.

0:26:400:26:44

-I don't think it is.

-Believe you me, if I invested,

0:26:440:26:47

I'm not investing with you, I'm investing with your dad and your brother.

0:26:470:26:52

-Tim -

-I don't understand what you mean in terms of Redfoot.

0:26:520:26:57

-It's owned by -

-The holding company.

0:26:570:27:01

Which would then pull my strings.

0:27:010:27:05

Why?

0:27:050:27:06

DUNCAN: Because they own it!

0:27:060:27:09

-Because they own it.

-You don't own it.

0:27:090:27:11

Well, I own it with my father and brother.

0:27:120:27:15

Right, that's it. Exactly. That's it!

0:27:150:27:17

I wish you the best of luck. You've got a decent product.

0:27:170:27:21

Can it be successful? No reason why it shouldn't be.

0:27:210:27:24

-But I can't invest. I'm out.

-Thank you.

0:27:240:27:28

I-I've got to say,

0:27:290:27:32

I'm sure that you're going to have a very good future ahead of you.

0:27:320:27:36

If you were stood here as a 100-percent owner,

0:27:360:27:39

I might take more time to explore all of that.

0:27:390:27:41

-But I completely agree with Theo.

-Yes.

0:27:410:27:44

Becoming a minority shareholder in a family business

0:27:440:27:49

would leave me the junior partner,

0:27:490:27:51

and I'm not going to enjoy that!

0:27:510:27:55

So I've got to tell you, you nearly convinced me,

0:27:550:27:58

-but I won't be investing, Tim. I'm out.

-All right, thanks.

0:27:580:28:01

Two more Dragons walk away from the deal.

0:28:060:28:09

But Tim still has two investors left.

0:28:090:28:12

Will the valuation prove a sticking point for Hilary Devey?

0:28:120:28:16

Erm...

0:28:190:28:21

It's an incredibly competitive and incredibly complicated market.

0:28:210:28:26

The competition is so fierce that, yes, if you do get it as a brand,

0:28:260:28:31

there'll be another one next week that'll be equally good as yours.

0:28:310:28:36

-It's not for me. Therefore, I'm out.

-Thank you.

0:28:360:28:39

-Tim, you've put a very high value on the company.

-Yes.

0:28:420:28:45

£3 million.

0:28:450:28:47

You've got one of the most difficult businesses to make money in, the shoe business.

0:28:470:28:53

-The number of sizes you need, the number of different lines, it's just phenomenal.

-Yes.

0:28:530:28:58

Erm... I can't invest,

0:28:580:29:01

-and so for that reason, I'm out.

-Thank you.

0:29:010:29:04

The Dragons may have been impressed with his business,

0:29:060:29:09

but not the investment opportunity.

0:29:090:29:11

Tim leaves with nothing.

0:29:110:29:15

I think the share structure is difficult to understand.

0:29:150:29:19

My brother and father not being here probably was a negative,

0:29:190:29:25

because they own the business, as well.

0:29:250:29:27

I still think it's a fair valuation,

0:29:270:29:30

but they thought it was too much risk

0:29:300:29:33

for what I was asking for.

0:29:330:29:36

So far tonight, the Dragons have been unconvinced by the business ideas pitched before them.

0:29:430:29:49

What's sad about it is, I love all these types of things,

0:29:490:29:52

but it just doesn't do it for me. I'm out!

0:29:520:29:55

If you'd like to know more about how the brave entrepreneurs make it to the Den,

0:29:550:30:01

press the red button at the end of the programme.

0:30:010:30:04

Each year, the Dragons get to see a plethora of different contraptions

0:30:090:30:13

that solve a multitude of problems.

0:30:130:30:16

Malory Maltby came in with his reinvention- of-a-wheel-shaped handle.

0:30:160:30:20

If I do this...

0:30:200:30:22

..it's very easy to bring in something light.

0:30:230:30:26

What you can do with this

0:30:260:30:28

is to undo it

0:30:280:30:31

and turn it from a wheel into a lever,

0:30:310:30:33

and that gives me about five times the leverage.

0:30:330:30:37

In fact, those blocks are moving with just one finger.

0:30:370:30:41

An intrigued Peter Jones wanted to know more about the serial inventor.

0:30:420:30:48

Malory, I just want to ask you to be clear.

0:30:480:30:51

You came in and pitched for £50,000, 20 percent of Malory,

0:30:510:30:54

-not 20 percent of this product.

-That's right.

0:30:540:30:57

-So 20 percent of everything you invent.

-Yes.

0:30:570:31:02

I've got 16 potential patents.

0:31:020:31:04

They vary from a system for building houses,

0:31:040:31:09

to a new type of bra.

0:31:090:31:10

I've got another one that's going through the patent process now -

0:31:100:31:13

-Can you talk to me about those?

-No, I can't.

0:31:130:31:17

I tell you why that's hard to evaluate...

0:31:170:31:19

-If I'm investing 20 percent into Malory...

-Yes.

0:31:190:31:23

..instead of asking you business questions, I'd have to ask,

0:31:230:31:26

"How's your health? What's your fitness like?

0:31:260:31:29

-"Would you consider an exercise regime?"

-Of course!

0:31:290:31:33

Charmed as they were, it was Theo Paphitis who summed up the mood amongst the Dragons.

0:31:330:31:38

-Where do you live?

-In the middle of France.

0:31:380:31:41

I wish you lived next to me! I have so many really weird ideas.

0:31:410:31:47

If only there was somebody around I could give them to and say, "Concentrate on that."

0:31:470:31:52

But unfortunately, I live in Surrey.

0:31:520:31:55

I can't take away from you what you've done, it's marvellous,

0:31:550:32:00

but it doesn't do anything much different to what's out there at the moment.

0:32:000:32:06

I'm going to wish you the best of luck and say I'm out.

0:32:060:32:11

Liverpool-based Kenneth Cheung came into the Den needing £50,000

0:32:120:32:17

to expand his range of educational recycling products.

0:32:170:32:20

The is the world's smallest composting system.

0:32:200:32:25

A child would add an apple core and then one of these special space composting worms.

0:32:250:32:31

Afterwards, they will add one of these magic beans

0:32:310:32:34

and it will grow out with a little message on the beam.

0:32:340:32:38

At first, Deborah was rather impressed with the offering.

0:32:390:32:43

-What did you mean by, "You get a message on the plant?"

-Would you like to see?

-I would.

0:32:430:32:48

-That grows with that message on it?

-Yes.

0:32:500:32:54

Can you see that? That's quite neat.

0:32:540:32:58

But the joy was short-lived

0:32:590:33:01

as the Dragons soon uncovered flaws

0:33:010:33:03

with the business behind Kenneth's products.

0:33:030:33:06

How are we going to make a profit if I put £50,000 into your company?

0:33:060:33:11

In the first year, we have £40,000 turnover.

0:33:110:33:15

Next year, with your help,

0:33:150:33:18

we will get a £700,000 turnover.

0:33:180:33:22

Right now, I have 35 outlets. In 2012, we're thinking 250.

0:33:220:33:29

-Kenneth, the investment you've asked for today is more than you're turning over!

-Mm.

0:33:290:33:34

To have that many customers for such small turnover

0:33:340:33:38

is against every rule any of us have ever lived by!

0:33:380:33:42

To grow that to thousands of them is a logistical nightmare

0:33:420:33:47

when you're turning over so little.

0:33:470:33:50

That's not a business plan. That's a road to rack and ruin.

0:33:500:33:53

Mm-hm.

0:33:530:33:55

You get that feeling when somebody's got entrepreneurial talent, which you have,

0:33:550:33:59

but I would think of something else, do something else. Get rid of the stock you've got.

0:33:590:34:04

As an investment, it's just not there.

0:34:040:34:07

I'm going to say I'm out.

0:34:070:34:09

The rival investors aren't renowned for always seeing eye to eye,

0:34:110:34:14

so you might think a product aimed at resolving disputes would be of interest to them.

0:34:140:34:19

Edinburgh's Karen Chapman certainly hoped so,

0:34:190:34:22

as she asked for a £75,000 cash injection.

0:34:220:34:26

My first product is Squibble Don't Squabble,

0:34:270:34:30

which, as the name suggests,

0:34:300:34:31

is designed to solve family squabbles.

0:34:310:34:35

It's based on drawing the short straw.

0:34:350:34:38

The straws are all different lengths.

0:34:380:34:42

From the outset, Duncan Bannatyne couldn't even agree with the concept.

0:34:420:34:46

What problem does it solve?

0:34:460:34:50

-Petty squabbles.

-But a squabble over what? How does it solve the problem?

0:34:500:34:54

Who sits in the middle car seat - that's a common one in our house.

0:34:540:34:58

I've brought up six children, and if Kid A sat in the middle,

0:34:580:35:02

Kid B would say, "I'm sitting there tomorrow."

0:35:020:35:06

And Kid C would say, "I'm sitting there tomorrow."

0:35:060:35:09

Although the squabble is sorted now, it won't be sorted tomorrow.

0:35:090:35:13

Kid A would say, "I won the squibble, so I'm sitting here tomorrow."

0:35:130:35:16

So you would still have a squabble about a squibble!

0:35:160:35:20

But in the end, there was no disputing the fact

0:35:210:35:23

that none of the Dragons saw a financial future in Karen's invention.

0:35:230:35:29

What price are you selling it into the retailers?

0:35:290:35:32

Three pounds.

0:35:320:35:33

-And...

-How much does it cost me?!

-We're getting there.

0:35:330:35:37

-Two pounds.

-OK.

0:35:370:35:39

Your ratios are all over the place.

0:35:390:35:42

To make a pound on consumables is one thing.

0:35:420:35:45

To make money on something that's a one-off purchase

0:35:450:35:48

is a different thing altogether.

0:35:480:35:50

So £75,000... It'd be a long time before I saw that money back.

0:35:500:35:55

Good ideas, but think through the business plan.

0:35:550:35:59

I'm out.

0:35:590:36:00

Many good entrepreneurs identify a problem and invent a solution.

0:36:060:36:11

The questions to ask are - does the problem really exist and does the solution work?

0:36:110:36:16

Next up is surveyor Helen Waterston,

0:36:160:36:19

hoping to grab the Dragons' attention with her innovative kitchen product.

0:36:190:36:23

Hello. My name is Helen Waterston.

0:36:550:36:59

I'm here today to ask for your consideration

0:36:590:37:02

in investing £70,000 for ten percent of my company,

0:37:020:37:08

Innovative Gadgets Ltd.

0:37:080:37:10

Roastcosy was created

0:37:130:37:17

basically from my own desire to create reusable tin foil

0:37:170:37:21

to rest my Sunday roast.

0:37:210:37:24

It's a high-quality stainless steel chain mail

0:37:240:37:27

that you simply drape over the actual meat.

0:37:270:37:31

It has extra rings at each corner

0:37:310:37:35

and also a small stainless steel label in the middle,

0:37:350:37:37

which makes it very easy to take off any food with any kind of fork.

0:37:370:37:43

And the special thing about it, apart from being environmentally friendly,

0:37:430:37:48

it reduces shrinkage.

0:37:480:37:51

Because the meats are covered,

0:37:510:37:54

the moisture is retained.

0:37:540:37:57

I'm already talking to Whitbread, who have over 400 outlets,

0:37:570:38:02

in trialling this in a number of their taverns and restaurants.

0:38:020:38:08

Thank you.

0:38:080:38:10

Motherwell-based inventor Helen Waterston

0:38:140:38:17

is hoping to whet the Dragons' appetite to the tune of £70,000

0:38:170:38:21

to launch her innovative cooking aid.

0:38:210:38:24

It's like a coat or armour.

0:38:240:38:25

In return, she's offering ten percent equity.

0:38:250:38:29

Peter Jones is first to question the hopeful entrepreneur.

0:38:290:38:34

-Helen.

-Yes?

-I'm Peter.

-Hi, Peter.

0:38:350:38:39

Let me get this right. This is something you wrap around your chicken

0:38:390:38:44

-before you put it in the oven?

-Yes.

0:38:440:38:46

-It is prior, during and after.

-OK.

0:38:460:38:49

-And have you invented this?

-I have.

0:38:490:38:52

I went out to search this on the market and I couldn't find anything like it.

0:38:520:38:57

I had in my head what I wanted to find and I couldn't find it.

0:38:570:39:01

And I basically started off by laminating marathon blankets

0:39:010:39:06

-to try and get a reflective surface.

-OK.

0:39:060:39:09

Why is it environmentally friendly?

0:39:090:39:11

Because it substantially reduces the need for tin foil.

0:39:110:39:15

-Tin foil is non-degradable -

-OK. I get that.

0:39:150:39:19

Let's take it that this is the next best thing.

0:39:190:39:22

What's the difference in cost of this, compared to a lifetime of tin foil?

0:39:220:39:27

Tin foil is very expensive. Erm...

0:39:270:39:30

-How much is it?

-Tin foil's about, well, £2.80 per domestic roll.

0:39:300:39:36

OK. And how much is your product?

0:39:360:39:40

The product itself retails at £29.95.

0:39:400:39:44

-Wow.

-It has a lifetime guarantee.

0:39:440:39:47

But the key to this is that foil is not environmentally friendly.

0:39:470:39:52

-It doesn't break down in landfill sites.

-Helen, I'm asking the questions. Yes?

0:39:520:39:57

£29.95. What does it cost to make?

0:39:570:39:59

14 pounds.

0:39:590:40:01

-It costs you 14 pounds?

-Yes.

0:40:010:40:04

Wow.

0:40:040:40:06

Assured and informed responses,

0:40:090:40:12

but will Helen maintain her poise

0:40:120:40:15

under the scrutiny of Hilary Devey?

0:40:150:40:18

I've got to say, I like it.

0:40:190:40:21

If it didn't cost £29.95, I'd probably rush out and buy one tomorrow.

0:40:210:40:26

That is my stumbling block and I know that, from a wholesale point of view,

0:40:260:40:31

I would rather have it more affordable.

0:40:310:40:33

But I'm trying to be realistic about the prices

0:40:330:40:36

and, obviously, if I could get a repricing structure,

0:40:360:40:40

then I would be able to retail it and wholesale it at a more affordable price.

0:40:400:40:45

-Have you approached retailers with them?

-I haven't been able to

0:40:450:40:49

because I wouldn't approach a retailer without having a supply that I could afford.

0:40:490:40:54

So, you're really in the very early stages?

0:40:540:40:57

Very early stages of getting the new prototypes through.

0:40:570:41:01

I've got a situation where I've finally made a good-quality contact in China

0:41:010:41:07

and I can now buy it at half of the price

0:41:070:41:11

I'm currently buying it.

0:41:110:41:13

Can I say, Helen, I don't actually cook,

0:41:130:41:15

and I find myself surprisingly interested in something you use to cook,

0:41:150:41:20

-because I have no affinity to it whatsoever.

-OK.

0:41:200:41:23

But I absolutely know

0:41:230:41:26

that my husband would think that was a really great thing.

0:41:260:41:31

What I would like to understand is,

0:41:320:41:36

can this do more, different or less than silver foil?

0:41:360:41:42

Compare those two for me.

0:41:420:41:44

Roastcosy is an incredibly high-quality stainless steel.

0:41:440:41:48

In this roasting process, it, I would say, achieves better results

0:41:480:41:53

because it has the ability to brown and crisp through the interlocking rings.

0:41:530:42:00

Also, in the basting process, you'd have to lift foil off,

0:42:000:42:05

you can baste through this Roastcosy without lifting it off,

0:42:050:42:08

which is a great advantage.

0:42:080:42:11

Whilst her product seems to have gone down well in the Den,

0:42:140:42:17

the Lanarkshire-based inventor has yet to receive an offer for her business.

0:42:170:42:22

Will Duncan Bannatyne be prepared to invest the £70,000

0:42:220:42:27

she badly needs?

0:42:270:42:29

-I just want you to explain something to me.

-Yes.

0:42:300:42:32

About three weeks ago, I put a Sunday roast in.

0:42:320:42:37

-I took it out the oven.

-Yes.

-Put it on the table, I carved it and we ate it.

0:42:370:42:42

It was lovely. Now, there was no tin foil on it.

0:42:420:42:46

Most chefs recommend that all meat is rested for a certain period of time.

0:42:460:42:51

When these chickens were cooked, this one was visibly larger.

0:42:510:42:56

This one lost its moisture more than this one.

0:42:560:42:59

-Although it's lots its moisture...

-In losing moisture, it shrinks.

0:42:590:43:03

-Therefore, you're losing meat.

-You're losing moisture.

0:43:030:43:06

All the chicken has done is lost some moisture.

0:43:060:43:09

But it depends on your argument against things like tenderness and succulence.

0:43:090:43:13

What makes something taste good?

0:43:130:43:16

So if you cook with the Roastcosy, because of the interlocking rings,

0:43:160:43:20

it allows the heat to permeate and brown and crisp the chicken.

0:43:200:43:25

You don't get that with foil.

0:43:250:43:27

And you can see that it has a venting action,

0:43:270:43:30

so any steam can vent, but not as much as leaving a bare chicken to roast.

0:43:300:43:36

Is this a cooking lesson?

0:43:360:43:38

It's turning into one. I think it's so ludicrous, but...

0:43:380:43:43

So you put this on it and it makes it cool slower,

0:43:430:43:47

but the whole point of resting it

0:43:470:43:49

is to cool it so the moisture comes back out, so it defeats the object.

0:43:490:43:54

Helen, I'm out.

0:43:540:43:56

Helen's first criticism and her first loss.

0:43:590:44:02

And it looks like Peter Jones has made up his mind, too.

0:44:020:44:07

-I think you've got a great product, I really do.

-Thanks.

0:44:100:44:14

It's not often that people bring out products that are innovative,

0:44:140:44:17

and I think you've got that.

0:44:170:44:20

The issue is that I think you've asked for a huge amount of money

0:44:210:44:25

that potentially isn't needed, erm,

0:44:250:44:29

and a very, very small share.

0:44:290:44:32

I think you should've mixed it the other way - asked for less, given away a bit more

0:44:320:44:36

to get something like this to have the chance of getting off the ground.

0:44:360:44:40

The only way I can deal with that

0:44:420:44:45

is to make you an offer...

0:44:450:44:47

..of half the money.

0:44:490:44:51

But I want in return for that...

0:44:510:44:54

..24 percent of the company.

0:44:550:44:59

OK.

0:45:000:45:01

In a surprising about turn,

0:45:050:45:08

Peter Jones has made an offer, but for more than double the equity

0:45:080:45:11

and just half the £70,000 she requires.

0:45:110:45:15

Strict Den rules state she must receive the full amount or she walks away with nothing.

0:45:150:45:21

Will Theo Paphitis be prepared to put up the balance?

0:45:210:45:25

I like it.

0:45:290:45:32

The problem I've got is, I've never cooked.

0:45:320:45:37

I'm sitting here thinking, "It sounds too good to be true."

0:45:370:45:41

But I haven't got a clue whether this works or not.

0:45:410:45:46

So this is not something I could invest in.

0:45:460:45:50

I'm going to wish you the very best of luck

0:45:510:45:53

-and say I'm out.

-Thank you.

0:45:530:45:56

Thanks.

0:45:560:45:58

I've got to say, I think it could become a household brand.

0:45:580:46:02

In ten years' time, there could be one in every home.

0:46:020:46:06

But you've got to get it to market first

0:46:060:46:09

and I think a 70k investment won't be anywhere near enough to get this out there.

0:46:090:46:14

I think you're looking at more like 250.

0:46:140:46:17

And so for me, it's too high a risk. Sadly, I've got to say I'm out.

0:46:170:46:24

Helen is fast running out of Dragons

0:46:270:46:29

to secure the vital final offer of £35,000.

0:46:290:46:33

Her investment hopes now rest solely with Deborah Meaden.

0:46:330:46:39

You've identified the issues, clearly issues over price,

0:46:410:46:45

and it sounds like there might, therefore, be issues over supply.

0:46:450:46:49

You are quite a way from getting it out onto the shelves.

0:46:490:46:52

You have a name, but you don't really have any brand.

0:46:520:46:55

So there's quite a big step between this -

0:46:550:46:58

This is why I'm here. I totally understand that.

0:46:580:47:01

SHE SIGHS

0:47:010:47:04

Er...

0:47:240:47:26

Yes, I'll match Peter's offer.

0:47:260:47:30

OK.

0:47:310:47:34

Would you be willing to slightly negotiate on the percentage?

0:47:420:47:49

Would you consider 20 percent each?

0:47:490:47:52

You've clearly invented a product that could sell extremely well.

0:47:550:48:01

Let's say it's just high risk.

0:48:010:48:03

48 percent is, in my opinion, not bad.

0:48:030:48:07

Well, I think I value your input, er, so much,

0:48:190:48:26

that I would be delighted to accept.

0:48:260:48:28

-BOTH CHEER

-Excellent.

0:48:280:48:30

APPLAUSE

0:48:300:48:31

-Thank you.

-Well done.

0:48:310:48:35

Well done. Might get my trying to cook a chicken!

0:48:350:48:38

Helen's done it. It cost her a lot of equity,

0:48:380:48:41

but she's secured the backing of two influential business leaders.

0:48:410:48:46

Helen, very well done. Two investors. Is that two more than you thought you would have?

0:48:480:48:53

It s. I don't think it's sunk in yet. But there's a bit of a journey still to go.

0:48:530:48:58

You got your full offer, but it is pretty well half the business you've given away.

0:48:580:49:02

I know, but I think you can't quantify or value the amount that they bring to the table,

0:49:020:49:08

and that was really what I was aiming for.

0:49:080:49:11

-Very good luck indeed.

-Thank you.

0:49:110:49:14

So the doors close for another year, and what a year it's been.

0:49:220:49:27

We've seen new Dragon Hilary Devey make her mark,

0:49:270:49:30

and, collectively, the Dragons have offered over £1 million in investment.

0:49:300:49:34

The pitches may have come to an end for the time being,

0:49:340:49:37

but the hard work for the entrepreneurs

0:49:370:49:40

and our multimillionaires continues.

0:49:400:49:43

This year, Dragons Den welcomed thousands of applications

0:49:480:49:52

from Britain's best and brightest entrepreneurs.

0:49:520:49:55

-What's the projection?

-Five million turnover.

0:49:550:49:58

Profit, 600,000.

0:49:580:50:00

People can't copy what we have.

0:50:000:50:02

They can't copy the passion that we've got and the amount of lives we've changed.

0:50:020:50:07

I try to create magic for people.

0:50:070:50:09

Give me a chance and I'll make magic products that the world will buy.

0:50:090:50:13

Armed with their money-making ideas,

0:50:130:50:15

they had a once-in-a-lifetime opportunity to pitch to the multimillionaires.

0:50:150:50:21

I'm not totally convinced on the actual business.

0:50:210:50:23

What I am absolutely convinced on is the three people standing in front of me.

0:50:230:50:29

Without listening to what the other Dragons have got to say, I'd like to make you an offer.

0:50:290:50:35

The Den is where deals are made, and this summer we've seen the Dragons shake hands

0:50:350:50:40

on offers of investment worth more than £1 million.

0:50:400:50:43

I'm going to make you an offer that demonstrates that I'm excited.

0:50:430:50:47

It'll be better than any other offer.

0:50:470:50:50

Sorry, I was expecting one offer, let alone two on the table.

0:50:500:50:54

I think you'll both be very successful, and I also think you'll both be very rich at the end of it.

0:50:540:50:58

-Well done.

-Over 10 episodes, a total of 26 entrepreneurs

0:50:580:51:03

moved one step closer to realising their business dreams.

0:51:030:51:07

Yes!

0:51:070:51:10

First to pitch this series was Georgette Hewitt.

0:51:120:51:16

-Hello.

-But it was a presentation she'd probably rather forget.

0:51:160:51:21

Basically, I've got, erm, around,

0:51:210:51:24

2,500 suppliers... erm, 25 suppliers. Erm...

0:51:240:51:29

I'm sorry. I can't. I'm sorry. I completely lost it. I'm sorry.

0:51:290:51:34

SHE SIGHS

0:51:340:51:38

I'm sorry. Please can I start again?

0:51:380:51:41

But in one of the biggest comebacks the Den has witnessed,

0:51:410:51:45

she went on to secure not one but two Dragon investors.

0:51:450:51:48

Thank you.

0:51:480:51:49

I'm so embarrassed about how my pitch went. I'm mortified.

0:51:490:51:53

I'm going to be watching reruns in ten years' time with my children and be cringing.

0:51:530:51:58

-This is an important decision!

-And so for that reason, Chris,

0:52:000:52:04

I'm withdrawing my offer and I'm out.

0:52:040:52:06

The Den wouldn't be the same without the odd disagreement,

0:52:060:52:10

and this series hasn't disappointed.

0:52:100:52:13

-Please let me finish, Theo.

-No! Not unless you answer my question!

0:52:130:52:17

-It hasn't changed!

-If it hasn't changed, it hasn't changed!

0:52:170:52:21

-OK -

-And I was part of that.

-Gill -

0:52:210:52:24

I'm a refugee of that. Sorry.

0:52:240:52:26

I'm totally out.

0:52:260:52:29

However, Glenn's pitch for his tanning aid

0:52:290:52:33

was a little unusual, to say the least.

0:52:330:52:36

I've got no sales figures, no bookwork whatsoever,

0:52:360:52:39

but what I do have is a potential target market that I think is colossal.

0:52:390:52:45

Who wouldn't want to look a little bit better for £20?

0:52:450:52:49

Thank you. Any questions?

0:52:490:52:51

Deborah Meaden tried her best to entice a more business-like approach.

0:52:510:52:57

I wouldn't for one second consider investing in you

0:52:570:53:00

unless you could give me something that said,

0:53:000:53:03

"I've got more than something that I did 20 years ago and left in my garage."

0:53:030:53:07

That's a very good point. A very valid point. But I don't know what else to say.

0:53:070:53:13

But with Glenn, admissions kept on coming.

0:53:130:53:17

You're probably going to ask me about a business plan. How do I know? I ain't got a clue!

0:53:170:53:21

And coming...

0:53:210:53:23

It's taken you 14 years to send an email?

0:53:230:53:26

No. I disagree. I disagree. It has, yes, technically.

0:53:260:53:30

And coming...

0:53:300:53:32

-When you lie on a sunbed, you put this on top of you?

-Yes.

0:53:320:53:35

-But most sunbeds now are stand-up sunbeds.

-Mm.

0:53:350:53:38

-So, what happens then?

-They fall off.

0:53:380:53:41

DRAGONS LAUGH

0:53:410:53:43

Despite all his charm, Glenn failed to part the Dragons from any cash.

0:53:450:53:51

I'm a bit lost for words.

0:53:510:53:54

I don't think this will sell for £20. I'm out.

0:53:540:53:58

It would give me no more greater pleasure than to prove Duncan wrong.

0:53:580:54:02

If you're watching, Duncan, I'll do you a special discount.

0:54:020:54:06

But this series will probably be remembered most for one thing. It was the year of the new Dragon.

0:54:080:54:14

Hi, I'm Hilary.

0:54:140:54:16

Successful businesswoman Hilary Devey

0:54:160:54:20

brought with her a new sense of style

0:54:200:54:23

and a choice of words never before heard in the Den.

0:54:230:54:26

You would make my foot itch, mate!

0:54:260:54:30

Passion doesn't create profit.

0:54:300:54:32

-Marketing expertise is what I need.

-I can give you that. Move on.

0:54:320:54:36

-Help me strategy -

-Fine. Move on.

0:54:360:54:39

And frankly, the beast doesn't change.

0:54:390:54:42

When that beast is hungry, it wants feeding.

0:54:420:54:45

I still have not got a clue how your turnover's broken down!

0:54:450:54:49

We're on Planet Earth in Dragons' Den!

0:54:490:54:54

I'm out!

0:54:540:54:56

I had a hand in any business venture that my father had.

0:54:580:55:02

By the age of 11, I could run a set of weekly accounts,

0:55:020:55:06

balance tills, run bars.

0:55:060:55:08

So, how did I get into business?

0:55:080:55:11

I was dragged in to it and I had no choice.

0:55:110:55:14

I don't suffer fools gladly.

0:55:140:55:17

If that upsets people, then tough, because that's business.

0:55:170:55:21

I like Hilary. She's very straight talking.

0:55:240:55:27

She says it how it is. She's a great addition to the team.

0:55:270:55:30

She was a new Dragon on the first couple of days. She's not new any more.

0:55:300:55:36

She's a Dragon.

0:55:360:55:37

-Hilary.

-I look forward to working with you.

0:55:390:55:43

-Hilary, we'd like to accept your offer.

-Good.

0:55:430:55:46

Hilary shook hands on four deals in the Den.

0:55:460:55:49

I'm in the Den

0:55:490:55:52

to diversify my portfolio of business interests.

0:55:520:55:56

Hilary, we're in business together! Well done.

0:55:560:55:59

But it was her first that proved she's prepared to put her money where her mouth is,

0:56:020:56:06

even if her rival Dragons disagreed.

0:56:060:56:09

The Duvalay Sleep System is really simple.

0:56:090:56:12

It has a special memory foam base, which smooths out the lumps and bumps in hard caravan seats.

0:56:120:56:18

Liz and Alan Colleran's confusion over their numbers

0:56:180:56:22

riled most of the multimillionaires.

0:56:220:56:24

How much do you think you spend a year when you say you don't spend any money on anything?

0:56:240:56:29

-I don't know.

-You don't know? Dunno!

0:56:320:56:35

But luckily for the husband-and-wife team,

0:56:350:56:38

there was one Dragon prepared to swim against the tide.

0:56:380:56:41

You need some input to help you with the direction.

0:56:410:56:45

But unlike Deborah, I don't think that's the end of the world.

0:56:450:56:49

I've got people that can teach you that and keep their finger on the button.

0:56:490:56:54

I'll offer you the full amount, but I want 26 percent.

0:56:540:56:59

How are we doing? CHATTER

0:56:590:57:01

After returning home to Dewsbury,

0:57:010:57:04

Liz and Alan had kept their success in the Den a closely-guarded secret.

0:57:040:57:09

Today's the day we've been waiting for. We're really excited. Looking forward to it.

0:57:090:57:13

Who's for a beer?

0:57:130:57:15

They invited a group of family and friends round to watch how they got on.

0:57:150:57:20

VARIOUS: Oooh!

0:57:200:57:23

DEBORAH: "I've got no problem with people getting passionate,

0:57:230:57:26

"but, Liz, you border on the defensive.

0:57:260:57:30

"I can't invest."

0:57:300:57:31

-"I'm sorry, Deborah."

-"And for that reason, I'm out."

0:57:310:57:35

ALL EXCLAIM

0:57:350:57:37

"Just one Dragon remains. Has Hilary Devey seen anything..."

0:57:370:57:41

Come on, Hilary! CHEERING

0:57:410:57:45

"I'll offer you the full amount, but I want 26 percent."

0:57:470:57:51

CHEERING

0:57:510:57:54

It's been a long road and look where we are.

0:57:550:57:59

We've been on Dragons' Den. We've got a multimillion-pound investor. It feels good.

0:57:590:58:04

They've put so much work in, it's about time they got a break.

0:58:040:58:07

-Aw!

-It really is.

0:58:070:58:09

With Liz and Alan's proud sons by their side,

0:58:090:58:13

the future looks bright for the Colleran family firm.

0:58:130:58:16

As the Den closes its doors, the Dragons have agreed to share their secrets for success.

0:58:210:58:26

We've seen their tips on pitching and negotiating.

0:58:260:58:29

This week, How To Win In The Den examines money-making ideas...

0:58:290:58:34

Think outside the box.

0:58:340:58:37

..and looks again at the some of the products...

0:58:370:58:39

Bit gimmicky. I think people might buy it.

0:58:390:58:42

..that have graced the Den.

0:58:420:58:44

It never ceases to amaze me.

0:58:440:58:46

Subtitles by Red Bee Media Ltd

0:58:460:58:50

E-mail [email protected]

0:58:500:58:54

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