Dragons Den are on the Hunt!

[Ozzy]

Do you need cash for your business idea?​

Dragons’ Den is in its fifth series and continuing to offer entrepreneurs from across the country the chance to make their business dreams come true.

Last series 10 entrepreneurs received investment from the Dragons’ Den.​

Brixton based Levi Roots secured an investment of £50,000 when he serenaded the Dragons’ convincing them that his Reggae Reggae Sauce was hot stuff. Just 3 ½ weeks after his appearance on the programme he launched his sauce in 607 Sainsbury’s’ stores nationwide with his first batch selling out across the country in the first day.

Imran Hakim pitched his I-Teddy, a teddy bear with an integrated multi-media player, securing an investment of £140,000, he has just signed a multi-million pound deal and is preparing to launch later this year.

And,19 year old Christian Lane received an investment of £80,000 from Theo Paphitis for his business Foldio, the first ever stationary folder that decreases the size of the paper by 50%, curving the paper without causing any creases.

Of course, not everyone gets investment in the Den but plenty go on to find success. Paige Allen has begun trialling her inflatable, protective carriers for fruit in nationwide stores. Kate and Jerry Daly’s Send a Kiss is about to be tested in a major high street chain, and, Anna Dickson is on the verge of signing an exciting deal with a large distributor for her Mummy Mitts after appearing in the Den.
The rules are simple: the entrepreneurs can ask for any amount of investment in return for equity in their business. However, they must get the amount they ask for or they will walk away with nothing. The Dragons are prepared to listen to a pitch for any kind of business but they must be convinced that it will make money.

As demonstrated by the investments in the last four series, ideas, businesses and products that meet some or all of the following criteria stand a good chance of securing the Dragons’ interest:

·The Unique Selling Point: a product that serves a need like nothing else.
·Scalability: something that can be up scaled to make real money.
·Route to Market: the clear way the product can be sold and marketed.
·Mutually Beneficial Arrangement: just what will the Dragons get out of it?
·Exit Strategy: a plan of how the entrepreneur/Dragon will exit and make money.

The BBC is currently searching for Britain’s best entrepreneurs and will be auditioning throughout the coming months. We want to hear from anyone who thinks they’ve got what it takes to enter the Dragons’ Den.

If you would like an application form please send an e-mail to [email protected], telephone 09011 110825 (Calls cost 25p from a BT Landline, other operators and mobiles may vary) or visit www.bbc.co.uk/dragonsden

 

[stugster]

Whatever happened to Ling and her Cars? I miss her around here!

 

[cjd]

Anyone know how many of those promises actually turned into cash?

 

[simonr]

<rant on>
Most of the presentation pitches for DD are soooooo bad I can't watch them. I suspect that a goodly proportion are picked to be Car Crash TV deliberately (who me? cynical?!!?!). However, I'm so hacked off about this that I'll stick my neck out and say that if any (existing) member of the forum here gets onto DD, I'll give them some pitching training free, gratis and for nothing, in an attempt to stop me losing the will to live when I watch the program.
</rant>

<small print>Some caveats apply - such as if you're a complete waste of space I'll not give you as much help as I would if your idea was fantastic, blah blah blah</smallprint>

S

 

[Ozzy]

I'll stick my neck out and say that if any (existing) member of the forum here gets onto DD, I'll give them some pitching training free, gratis and for nothing, in an attempt to stop me losing the will to live when I watch the program.

That Simon is actually a fantastic offer and I really hope that someone here does have a business worth pitching and this pulls off. Even if funding isn't offered the publicity would be worth it, for both of you.

 

[Aspect Investments]

Whatever happened to Ling and her Cars? I miss her around here!

Ling is doing very well as a result of DD. http://www.lingscars.com/

 

[simonr]

Hi Richard - I'm not even bothered about the publicity (I'm sure 10Yetis and others are screaming at me now!): it's just the standard of the presentations I care about. I hate to see people suffer un-necessarily.

(Necessary suffering is a different thing, of course! )

S

 

[estwig]

That bunch of sour faced dragons, might just.....

Have it from a first class builder, hell bent on 'world domination'

Reckon that'd make for good 'car crash TV' and if they are really lucky, we might even take their money!!!!!!

 

[Stephen Berry]

Simon,
I am not a dragon's den fan - but I second your sentiment.

I'll make a similar offer - I'm London based and you are North East.

Today I saw the presentation of the fund for Madelein McCann - and my first thought was - if I had been given 15 minutes with the presenter of the party it would have risen in impact exponentially!

Without appearing immodest, one global top 50 company flew me London to New York to deliver a 30 minute speech last week - so I must have something to offer prospective den entrants.
As with Simon - absolutely free - because its fun!
just let me know and we can book a diary date.

 

We been punting this around for 3 years and sold about 50, we are about to give up on it .Opinions please

http://www.studdsey.fsnet.co.uk/jetskiext.htm

 

[Ozzy]

Are you planning of going on the den for this? If not then I'll move your post to its own thread.

 

we have applied Earl

 

[Mr. Mu]

First thing strikes me is that an outsider to the sport(s) is that I have to work quite hard to find out what the innovation is. That migh not be relevant (since I'm not your target audience) but I thought it's worth mentioning - if only because I suppose I could be an investor coming across your site..

 

[Travelling Sam]

Can I offer a word of potential warning? Of course, this will apply to practically no-one on here!

My girlfriends company appeared on DD, failed to secure funding, we're absolutely slated for having terrible financials (to be fair, they were!), and later sourced the funds they required elsewhere. They turned the business around, became very successful, and then....

A year later their episode was aired. Suppliers saw it, thought they were in financial difficult, pulled all their credit, and their reputation took a nosedive...Almost a case of self-destructing. Fortunately they are going great guns now!

 

[Calypso]

I just wonder....the unauthentic looking Jamaican with the authentic products. Would they back two? It would be good to go on and start the presentation by asking the two Dragons that backed Reggae Reggae sauce to leave the room as a conflict of interest would be on hand?

/ goes off to consider

 

[LINGsCARS]

Whatever happened to Ling and her Cars? I miss her around here!

Stugster, I am here. I promised Richard I would log on, but had to wait until the week was finished and even now I am still working, phew.

My God, what business this Dragons' Den has brought in! Or maybe me, on Dragons' Den has brought in hehehe.

Let me tell you, it is so worth doing. But you must promote your business, either to suppliers or customers. I am not sure it is the place to raise cash, but it is a TV programme pure and simple, to me. How else to get 10 minutes, free (all expenses covered, thanks licence payers) on prime TV?

My view? TV is there to entertain. That's it. So if you don't entertain, what's the point. It really isn't a boardroom and if you do it, you have to make something happen. That "ye're turning us DOOOOON?" shout from Bannatyne was worth it's weight in gold. Everyone says "well done, Ling, you showed him".

But of course, I didn't "show him", he knows more than I ever will... but that was the perception as people BELIEVE TV. Silly but true.

Anyway, figures (if you are interested). Feb was £11k, March was £18k but sales began to percolate through in April and I invoiced £22k+ in that month. I only invoice when cars are delivered, a golden rule of mine so I count sales once only. The month of May will beat April... and June already has more than May lined up - I have £90k of business in my pipeline to be delivered before July. Referrals are keeping it buoyant. I have a net 58% return on sales after all expenses, so it would be fair to say I earned £12,750 pre-tax in April. I hope you take this in the manner intended - that I think people here will be interested in hard facts and that I'm not just shouting my mouth off.

Amazingly, I am criticized throughout the car industry as an undercutting parasite and by keeping overheads down (why do anything else) I can survive on £200 (or often less) a car, whereas other car brokers have to make £500-600 and dealers need £1000-1500 margin per car. Yes, so £22k = over 100 cars. That's a lot of bloody nice customers to juggle for one person, but remember with all the others in the pipeline, I am juggling nearly 250+ "live" (communicating) customers at any one time. All by email. No wonder I am knackered.

So, should you go on DD? Yes, it is a no-brainer. But then ANY TV programme would be a no-brainer, surely? Even this week, the local BBC have been suggesting I make an episode of Inside Out, a regional magazine prog, and my answer is YES even before I know what the topic is. The golden rules I have learned in my (short) TV career? Well, it only counts when they are actually filming it (all the rest is absolute bollox), and you must provide a rational story that works. A follows B follows C etc, even thickie viewers can follow it, plus use humour and drop a few surprises in for effect. one may work, eh?

Downsides? Coping with the business. But it has shown me I can cope with this volume, so it has made planning the future easier, plus (of course) I now have the luxury of a massive (to me) cash buffer in the pipeline, so I can experiment more bravely.

Sorry to ramble on. Get applying DD, anyone that makes some useless excuse is frankly, barking. Life's too short!

- Ling

 

[DuaneJackson]

Hey Ling, with that kind of earnings you should have a couple of employees dealing with some of the correspondence. Don't you burn yourself out!

Going back to the original topic. I think you have to be crazy (or very desperate) to see DD as a source of anything except publicity. If you have a good business you can get a much, much better deal elsewhere.

 

[Fit To Defend]

I've auditioned to pitch Dolphin on DD 3 weeks ago..still waiting to hear!

 

I suspect the producers are looking for people who will entertain the public more than anything.so unless you don't mind looking like a prize pillock ,or walking up them stairs playing a banjo don't hold out a lot of hope.
There have been far to many ideas on there ,that had no chance ,but had people that were great characters like Ling promoting them

 

[LINGsCARS]

Remakably, I did not have an idea. Contract Hire is a well established product (even if it is immature compared to the American market). Really, all I have is a business that presents it reasonably well.

I was amazed this did not draw the comments that "the buisness could be duplicated freely" or that "there is nothing to stop anyone doing it". Both of these are true.

Of course, the BBC edited my (3 1/2 hour) pitch to make good-ish TV. That is the only measure, the validity of the pitch is largely irrelevant. The Dragons want the free publicity of a good programme, too. This is pure entertainment, and even if they lost every penny of each investment they make - I think the publicity more than makes up for it, for them.

- Ling

 

[The Printed Bag Shop]

Ling i think your great at what you do and id love to meet you one day ive seen you a few times as im only in newcastle but ive never been able to speak.

Keep up the good work ling.

 

[Fit To Defend]

Ling..A nice Ling's Cars ad at one of my academies may well pay dividends, or maybe even a student sponsorship ;-)

Keep up the good work!

 

[amaze]

I got to the final stages of DD last year, but pulled out at the last minute. I have no intention of giveing away 20%+ of my business so thought it wasn't really worth going on... The publicity would of been nice though!!

 

[Business Angel]

I agree with Ling, this is pure television not real life business angel investment, which I deal with every day. If you want publicity go on DD, if you want investment contact a business angel network.

John

 

[cardsender]

Nice product, but I think the price point is too high. I guess it probably costs about £10 to make. It also seems to require you to unhook the trailor and then rehook using your add on bar. Is that wise on a ramp! So what are the alternatives? Put a mini winch on the back of your towing vehicle. Get your feet wet. Get your vehicle wet. People have been doing this with small boats for years and it does not seem to be a problem. Remember, people will only pay you for solving their problems. No problem; no solution required; no income.

 

[DanMartin]

I see Duncan Bannatyne more than doubled his profits last year. I wonder if any of that money will be going to Dragons' Den participants?!
http://www.businesszone.co.uk/item/168662

Dan Martin
www.businesszone.co.uk

 

[radioman]

Don't want to rock the boat but...

Doubling profits - aren't we all trying to do that?

Also, re the trailer add-on, I think that boats and skis that are light enough for the extension are probably light enough to be hand launched and even if they aren't my experience (and I'm in your geographic area) is that the users mostly have 4x4's and simply aren't bothered.

So far as DD is concerned, I don't think the market is large enough for this type of low price product to make it attractive to them.

What has the feedback been from your pitches so far?

Dale

 

Don't want to rock the boat but...

Doubling profits - aren't we all trying to do that?

Also, re the trailer add-on, I think that boats and skis that are light enough for the extension are probably light enough to be hand launched and even if they aren't my experience (and I'm in your geographic area) is that the users mostly have 4x4's and simply aren't bothered.

So far as DD is concerned, I don't think the market is large enough for this type of low price product to make it attractive to them.

What has the feedback been from your pitches so far?

Dale

Hi Dale in the size shown they can handle 2 tons ,we have on on a twelve seater RIB's trailer ,feedback from customes is excellent we have some running around that are 3 years old .

I agree about the 4 x 4 but imagine the damage they are doing to there 50k's worth sticking them in the salty stuff

again I agree about the Dragons den .But we just want the publicity,and a chance as a proffessional engineer to tell em a few home truths ,as we don't need there money

Money is not a problem its gauging whether its worth putting any more of our own into the project.rather have someone super rich behind us ,but not the wimpy Dragons

 

Nice product, but I think the price point is too high. I guess it probably costs about £10 to make. It also seems to require you to unhook the trailor and then rehook using your add on bar. Is that wise on a ramp! So what are the alternatives? Put a mini winch on the back of your towing vehicle. Get your feet wet. Get your vehicle wet. People have been doing this with small boats for years and it does not seem to be a problem. Remember, people will only pay you for solving their problems. No problem; no solution required; no income.

£10.00 what part of Indonesia do you live in

No problem launching boats .I take it you have never stood by a launch ramp on a bank holday and watched 3 grown men heaving and sweating cause there fishing boat won't reach the water after 21 attemps to rverse it down the ramp ,its one of the great amusments here in Whitstable

get your vehcile in the salty stuff = new brakes extensive corrosion

regards Earl

 

[lightload]

We were going to do an article on people who have been on Dragon's Den but we decided against it due to time scale. We will be running the article at a later date. One thing I was amazed at was, the majority of the people who did not receive money are doing better than the ones who did. They have been given great exposure and have had other investors come forward and offer them a good deal. I would say to anyone who wants exposure and investment to go on the programme

 

[vanboy]

Personally,i think if you have a good idea which works,you'd have absolutely nothing to lose by appearing in front of The Dragons - obviously apart from your dignity.But seriously if i were in your position and i've looked at your product (i'm into boats in a reasonably big way including buying and selling smallish ones) and its a very good idea and would appeal to a fair amount of people IF you can put it in front of their faces especially on prime time TV,good luck.

 

[Calypso]

Van Boy, where I can I se what boats you buy and sell? oops sorry..I'll sent PM

 

[luke2]

some of the things iv seen being pushed on dd or picked because of their tv program whatchablty and not because its a good idea

 

[lee8040]

when is this programme on ive never seen it adveertised?

 

[DanMartin]

There have been four series of Dragons' Den so far on BBC2. The fifth series is due to start in the autumn. More info at http://www.bbc.co.uk/dragonsden/

 

[Dan Matthews]

You wonder how long the format will go on for. Business shows have come in for a panning recently (mainly because of Tycoon), but DD seems to be in fighting form.

 

[sergio]

Well quite. Five years is a long time in tv for a programme which hasn't changed it's format from day one. I do still enjoy the show though. I think its strength is in its simplicity and getting the chemistry of the panel right.

I think DD was a surprise hit, which then inevitably spawned a glut of weaker contemporaries. Hopefully the Tycoon hiccup will cause the program makers to pause for thought. I feared we were heading inexorably towards 'Strictly Come Entrepreneuring' where successful business people teamed up with C-list celebs to start a business, with the public voting for their favourites each week.

 

[DuaneJackson]

I feared we were heading inexorably towards 'Strictly Come Entrepreneuring' where successful business people teamed up with C-list celebs to start a business, with the public voting for their favourites each week.

I hope they aren't any tv execs reading this, they just might think it's a great idea!

Seriously though - DD will run and run. The format just works well. As long as people watch it, they'll make it.

I think comparing it with Tycoon is like comparing apples and oranges.

 

[Write My Site]

Hmm, I'm not so sure ... I really liked Dragon's Den for the first couple of series, but I found the last series a little dull if I'm honest. Mainly because it's become quite predictable (and also because the presenter annoys me, but that's just a personal gripe!).

 

[Business Angel]

We've had several clients in the Den over the years. The two that got offered money - guess what? - the deals didn't materialise in the end! All offers are subject to due diligence, which is a general let-out for the investors if they see something they don't like in the detail.

Not for people serious about gaining investment. Going to a Business Angels network is. But be careful, there are rogues and villians in that market just as there are in all. Check any network's success rate, size of database, age of network etc. Ask them how much money they have raised in the past 5 years, and don't accept evasive answers! Above all, ask for written references.

John