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00:03Welcome back to Dragon's Den where pitches can lead to riches and five of
00:12Britain's sharpest business brains await a new batch of fledgling entrepreneurs.
00:21Joining them tonight I'm Trini Woodall and I am the CEO and founder of Trini London.
00:26A skincare and beauty queen becomes a deal-seeking dragon.
00:30Welcome to the Den, lovely to have you.
00:32I'm so excited to be here with you all, thank you.
00:35I started my business with the inspiration of women I worked with in my previous career.
00:40We have grown to a team of 250 people, we sell in 180 countries and we have only just begun.
00:48To be successful in business you have to have a thick skin.
00:52I don't get why you're in the den.
00:53Faffing around doesn't particularly work, I think you have to be a straight talker.
00:56Stop bloody apologizing darling.
01:00I'm looking for an entrepreneur who can think globally.
01:03Go away and think how would I actually make this a business which has scale.
01:08And if they don't bring their entire game, I just don't understand your motivation.
01:12I will judge them for it.
01:14Uh, no.
01:15It's really challenging starting a business.
01:18The more we can help people and inspire them the better.
01:20I'd be so proud, so proud.
01:31Hi, my name's Laura and I'm a mum of two and I live in London.
01:38I've always been super passionate about the environment, really eco-conscious.
01:42And I want to be able to make a mark on that category for decades to come.
01:50It's obviously a sponge, isn't it?
01:52Who likes cleaning?
01:53I will polish a dining room table to the zents.
01:56I have a spray which I put on my desk which lives in my top drawer every few minutes to
02:00make sure it's clean.
02:01So when are you free to come down the stage?
02:06I was so excited when they told me that Trini was one of the guest dragons.
02:11I don't think you could have picked a better guest dragon.
02:13So I'm super excited to pitch Seep to her.
02:26Hello dragons.
02:28My name is Laura and I'm the founder of Seep.
02:31I'm here today with the opportunity to invest £50,000 in exchange for 1% of my business.
02:39I founded Seep back in late 2020 because I was so frustrated by the lack of plastic-free cleaning accessories
02:47in the market.
02:48While I'd switched to eco-cleaning sprays, detergents and toilet roll, when it came to the accessories like the sponges
02:56and cloths, everything I found was predominantly made from plastic and very few of them you can recycle.
03:03It's estimated that over a billion of these plastic cleaning tools are thrown away into landfill and incineration every year.
03:11In three years, we've released over 10 products that are all plastic-free and they've been designed to be completely
03:19compostable at end-of-life or endlessly recyclable.
03:22We've delivered nearly £2.5 million in sales.
03:26We're B Corp certified and we've got listings in really prestigious retailers like Ocado, Lakeland and Booths.
03:33Dragons, with your expertise and investment, we think we can disrupt this dusty cleaning tool category for the good of
03:42people and planet.
03:45A range of plastic-free, planet-protecting cleaning accessories are the offering from Laura Harnett.
03:52There you go.
03:53She's seeking £50,000 in return for 1% of her business.
03:58You know what, I should have done this at the start of the series.
04:01Oh, my gosh, exactly, you can do your shoes, you can give the studio a bit of a clean.
04:06Peter Jones has already cleaned up in the den, but can this eco-conscious entrepreneur join him?
04:16Laura, what is your best-selling product over the last two years?
04:20So, the best-selling product is this one here, so it's the sponge scourer.
04:24How many of those have you sold?
04:25We've sold individual units over a million.
04:28And what sort of margin?
04:30So, it depends by channel.
04:33So, for retail, we obviously discount so that the retailers can make a margin.
04:38But on average, on D2C, somewhere between 50% and 60%.
04:44So, Laura, can I just talk about your financials?
04:48Let's start at 2022 through to now.
04:52So, 2022, we did £606,000, and then with a gross profit of £320,000, and then a net profit
05:04of minus £250,000.
05:062023, we did £958,000, and then we made a £324,000 loss.
05:21Okay. You won't be surprised to hear, when are we going to make any money?
05:24So, we're estimating that 2027, we are going to make money.
05:29And so, 2027, £10 million of sales, £4.4 million of gross profit, and half a million of net profit.
05:38Okay. And how are you funding your losses?
05:41So, from investors, I've put my own money into it.
05:44We've won some grants, and we've raised just under a million up till now.
05:50Oh, in total?
05:51In total.
05:51Okay, thank you.
05:54Losses.
05:56Losses. I know. I thought you might have something to say about that.
05:58I mean, what I want to know is, why are you losing money?
06:03So, last year, £9,000, yeah, £9.58.
06:07Yeah, £9.58 failed.
06:08So, your gross profit was £458,000, your loss was £324,000, that's like £780,000 you've spent.
06:17Where does it all go to?
06:19So, from gross profit, we spend quite a bit on marketing.
06:22Can't all be going to marketing.
06:24So, we spent money on developing the products, we rebranded, and I built a team.
06:29I built a team that I felt...
06:30That worries me. I'll tell you why it worries me.
06:32Yeah.
06:32The best entrepreneurs that come here are the ones that says,
06:36every penny is a prison in my pocket.
06:38Yeah.
06:39In your case, it was like, spend, spend, spend.
06:42So, as we speak today, I would imagine you haven't got a lot of money in the bank.
06:47So, we have actually a bit of money in the bank because of our last fundraise.
06:52Right.
06:52And over the past six months, we've improved our gross margins by 10% to 20%.
06:57So, we were at 30%.
06:59This year, we should be at roughly 40% or 50%.
07:02So, my last question. So, the sales that you've done up to now, has that been totally retail or has
07:09that been on your website?
07:11It's nearly... Yeah.
07:12So, 60% of it is on our website.
07:15And actually, D2C is just about breakeven.
07:1830% of it has been through Amazon and 10% has been with retail.
07:23Amazon's making a little bit of money.
07:26Retail is how we're going to grow.
07:29Hi.
07:30Nice to meet you, Laura.
07:31Hi, Trini.
07:33Can I ask you, you're 60% of D2C.
07:35Yeah.
07:36I'd just like to know a little bit about that.
07:38I find it very interesting because I'm mainly D2C.
07:41And I sense that maybe you feel you're hitting a ceiling in D2C and you think retail is the future.
07:49Yeah. I mean, I know that D2C is a big part of your business as well, but it's been real,
07:54really up and down.
07:55You know, we launched during lockdown where times were brilliant.
07:59And, you know, our cost of acquisitions was really low.
08:03And then there was a sort of year where it was really quite tough.
08:06And so, we had to kind of suddenly go, right, how are we going to get organic sales?
08:10Yeah.
08:10Most people aren't buying cleaning accessories direct from people on websites.
08:14They're buying them with their weekly shop.
08:16That's why people want to be able to pop it into their basket.
08:19And that's how they want to buy them.
08:21And so, that is much more profitable.
08:24I think in retail, you may have to create a unit and all your products fit into that unit.
08:31And people just see it.
08:33And my concern, apart from the numbers, is that you're reliant to online.
08:39Yeah.
08:40How do you switch it all off?
08:42Yeah.
08:42And still keep the lights on?
08:46Trinia, doesn't it look like you agree with that?
08:48You always come up with this thing of, like, the end of D2C.
08:52You know, when I watch this show, I hear you say it.
08:55And I just take umbrage because I think there is power in D2C.
09:01But it depends how much money you've got to lose to get there.
09:04Yeah, but you don't lose money on...
09:06She's losing money now.
09:07No, but you don't...
09:08Well, go on, Trinia, prove him wrong.
09:10Make an offer.
09:10What?
09:16Laura, I'll tell you where I'm at.
09:18I absolutely love the business in terms of the purpose of the business.
09:23I can't fall in love with the mechanics of the business.
09:27You know, I was trying to wrestle with how confident do I feel
09:31that the business is going to take the trajectory that you're talking about.
09:35Mm-hm.
09:36And I can't get comfortable with the numbers trajectory that you're forecasting.
09:39OK.
09:40And we're already losing an awful lot of money.
09:42So I'm sorry it's not an investment for me.
09:44All right.
09:48Laura, I'm going to tell you where I am.
09:49I think you're phenomenal.
09:52If this was like some other form of drag and sin,
09:54where it was just about hiring the person,
09:56I would have already made you an offer.
09:57OK.
09:58However, one of the factors that makes me invest in a business
10:01is my personal excitement about the business.
10:05And it's just not something that I'm hugely excited about.
10:08So I'm going to say that I'm out.
10:14Laura, I think...
10:15Do you know what?
10:16I think this is fantastic.
10:17OK.
10:19I just wonder, though,
10:20and I know that I've ripped everything apart looking at it,
10:22but I'm doing it to see what components...
10:24Where can we take costs out?
10:26Yeah.
10:28And this is what I think you need to do.
10:29How do you get those costs down?
10:32Your margin is not good enough.
10:33Mm-hm.
10:34And I don't think you're going to survive unless you change that.
10:38Particularly if you're now wanting to do this in retail.
10:42Boy, are you going to need to increase.
10:44You're going to need to probably get very close
10:45to double the margin you're getting today.
10:47And that's a tall order.
10:48So you're going to need some really good help there.
10:51However, the business just at the level that you're offering
10:54and the percentages,
10:56it's just not overly exciting for me.
11:00So I'm going to wish you well on your way,
11:02but I won't be investing.
11:03I'm going to say that I'm out.
11:04Okay, thanks.
11:08I know what I can bring to the party.
11:11And that's definitely helping you with your margin,
11:13sourcing and retail.
11:18And I will make you an offer,
11:21but it comes at a price.
11:25You're looking for 50,000 to 1%.
11:29So I will offer you all of the money,
11:30the 50,000,
11:31but I want 7%
11:33because I believe that you're going to need
11:36a lot of help with your sourcing and retail.
11:46I love this,
11:47and I love it for so many reasons.
11:51I, of course, love it
11:53because we chuck away billions of bits of useless rubbish
11:59and there's an alternative.
12:00So I love all that.
12:01You're really good.
12:02And it's in a space that I think is really important.
12:05So I'm going to make you an offer
12:06for all of the money.
12:07That's 50,000 pounds,
12:08and I want 4% of the business.
12:104%.
12:15I'm going to say that I think that
12:21for a part of your business,
12:22I'm the right dragon,
12:25but for the raison d'etre of your business,
12:28I'm not the right dragon
12:31because I think somebody has to really understand
12:34and have the passion like Deborah has.
12:38You can only share, Trini.
12:40Hmm?
12:40We could always share.
12:41We could always share.
12:42We could always share.
12:43Well, if you're willing to share,
12:45now we're talking,
12:46so would you split it?
12:48Absolutely, I would.
12:52Yeah, so I'm going to make an offer,
12:54which would be to invest 25,000
12:56for 2% of the business.
13:01Do you want to go to the back?
13:06I don't need to go to the back.
13:09I would absolutely love to accept
13:12Deborah and Trini's offer.
13:14Excellent.
13:15Thank you very much.
13:16But thank you, Tuka.
13:18No mucking about from Laura...
13:20You're saying fantastic stuff.
13:22..who leaves with a clean, green dream team.
13:25Thank you so much.
13:28Having mopped up 50,000 pounds.
13:32I'm feeling unbelievably excited.
13:34I'm really glad it's over.
13:36It's quite a stressful experience,
13:38but I'm so delighted.
13:40Congratulations, and congratulations, Trini, on your deal.
13:44You're going to teach me a lot about sustainability now.
13:48Deborah and Trini were my dream dragons,
13:52and I'm so happy that they've decided to come on board with us.
14:09Hi, I'm Pete.
14:10I'm 29, and I'm from London.
14:11Looking good.
14:12Feeling good.
14:13Hmm.
14:14I'm really excited about pitching to the Dragons.
14:16It's the sort of thing I never imagined happening
14:18when I had the idea, so it's pretty surreal.
14:21You've got this, mate.
14:22It's what we do.
14:23So I had my idea in a pub.
14:25I've been weightlifting for more than a decade.
14:27I'd stopped deadlifting because I hated the set-up so much.
14:30And I realised it was a problem that everyone has
14:33that could be solved by a water bottle.
14:36This better be more exciting than just a water bottle.
14:39I think it's going to be a little bit of a
14:41who can lift the highest weights amongst the male dragons, actually.
14:44They wouldn't put two crumpies through that.
14:56How are you doing?
14:57I see you guys.
15:00Hi, Dragons.
15:01I'm Pete.
15:02I'm looking for £50,000 for 12.5% of my business.
15:07The barbell.
15:09Now, you'd be glad to hear that's not the business
15:10because barbells have been around since the 1860s.
15:14But the issue may already be obvious.
15:17Loading and unloading the weights
15:18is the bane of every weightlifter's existence.
15:21It puts your lower back in a vulnerable position.
15:23It ties out your grip strength just before you lift heavy.
15:26Unless you go to a powerlifting gym,
15:28you probably don't have a barbell jack.
15:29It's not the sort of thing you'd pack in your gym bag.
15:31If you're really keen,
15:33you might bring some lifting shoes, a rubber band.
15:35But most people just show up with their water bottle.
15:38And my water bottle is what I wanted to talk about.
15:41Now, this is the Carter bottle,
15:43the barbell jack water bottle.
15:46Since we started,
15:47we've had 75 million views
15:48across all our social media platforms.
15:50We've had stock for just over a year.
15:52And in that time,
15:53we sold 3,500 units for £135,000.
15:57So before we go to questions,
15:59I was wondering if I could get a volunteer.
16:01To do what?
16:02Just try it out.
16:03Just take it for a spin.
16:04Stephen?
16:06A water bottle with a barbell jack built in
16:10is the brainchild of weightlifter-turned-entrepreneur
16:14Pete Anwell.
16:17That looked quite easy.
16:18Is that quite easy?
16:19You've got to bear in mind, you know.
16:21Yeah, obviously.
16:22He's seeking £50,000
16:24in exchange for 12.5% equity.
16:28And those are little plates.
16:30He's got little plates, he has.
16:32For a guy that trades out all day.
16:37Stephen Bartlett may have shifted a few kilos,
16:41but his fellow dragons
16:42are focused on picking up some pounds.
16:47Hello, Pete. Welcome to Dragon's Den.
16:49Thank you for having me.
16:50So, I know very little about this industry.
16:53I only lift 20 kilos maximum,
16:55so this to me is something I look at
16:57in admiration of other people.
16:58How long did it take you
17:00to develop the prototype
17:01and to do all the research?
17:04And how did you fund that?
17:07So, it was all self-funded with my savings,
17:09though I've put £40,000 into the business.
17:12So, that was April 22.
17:14I did a bit of maths to check
17:17if a cylinder can deal with
17:18that level of compressive strength,
17:20because I did engineering at university.
17:22And the initial idea,
17:23I wanted to run a Kickstarter campaign.
17:26And while it was away getting photographed,
17:28I was like, well, I'll make a few videos,
17:29see what happens.
17:30And one of those blew up.
17:32And I thought, well,
17:33even if the Kickstarter isn't a success,
17:35there's clearly a demand for it.
17:37So, at that point, I said,
17:38okay, let's go into manufacture.
17:44Pete, what's your professional background?
17:47So, I was an engineer at university,
17:49and as a graduate, as an engineer,
17:52you don't seem to have a lot of influence.
17:53So, I became a management consultant,
17:55and then I enjoyed the more technical aspects of that.
17:58So, I went into software development.
18:00So, what's your full-time job at the moment?
18:02I'm doing this now.
18:03Full-time?
18:03Yeah.
18:04Okay.
18:05When I look at this,
18:05I think it's cool.
18:07I think it's cool.
18:08And I think, actually,
18:09what you saw from the reaction to that viral video
18:11is a lot of other people thinking it's cool.
18:13But there's obviously a big difference
18:15between cool
18:17and a big brand and slash business.
18:20They're two very different things.
18:22So, when I think about Carter,
18:25how does this become a business?
18:26What's given me the vision facing forward?
18:28If we sit down five years from now,
18:30what is this?
18:32So, at the moment,
18:33I'm trying to create
18:33the world's strongest water bottle in this form.
18:36And so, part of the reason I'm here for the investment
18:38is to develop the product,
18:40make it even better,
18:41more stable, more drinkable,
18:43because at the moment,
18:44the opening's a bit wide.
18:45So, the flow rate is a bit large.
18:48And I want to make hard-wearing drinkware,
18:50but it still speaks to the rugged design quality
18:53of people that work out.
18:57Pete, I think it's really well made.
19:00It definitely does what it says on the tin,
19:02for sure.
19:03But I don't know where this could become a business.
19:07Yeah.
19:08Well, firstly,
19:09there's 11 million gym memberships in the UK.
19:12There's 64 million in the US,
19:15and there's a similar level
19:16in the major European markets.
19:18So, what I'm targeting is 0.1% of that market.
19:220.1%?
19:24Yeah.
19:240.1% or 0.1%?
19:260.1%.
19:260.1%?
19:27Of the people with gym memberships
19:29that frequently lift weights.
19:30I'm trying to think of anything
19:31I've ever invested in,
19:32in 40 years,
19:34that I've taken 0.1% of the global market.
19:38Reggae sauce.
19:39Reggae sauce?
19:40I don't know whether it's taken 0.1% of the market.
19:43If the UK market for us doesn't grow,
19:46and the US and Europe expands
19:47to reach the proportional numbers
19:49based on how many gym memberships there are,
19:51we'll do 1.05 million in the year three.
19:54I think it's a really good, innovative product.
19:58So, I want to say congratulations.
19:59You've got yourself a business.
20:00There's no doubt about it.
20:02And you're going to sell these products
20:03because people,
20:05I can see people,
20:06it might be just cool to buy one
20:07and just go to the gym with it.
20:09So, I congratulate you on that,
20:11but I can't see further than that.
20:13And when I can't see further,
20:14I can't see a big investment
20:15or an opportunity.
20:16So, I'm going to say that I'm out.
20:18But thanks for bringing it in.
20:19Thanks so much.
20:24So, the only way forward
20:25I would see for this business
20:26is if you love design
20:29and you do love design
20:30and you're an engineer,
20:31so you love to refine and make better
20:33and I know what it's like
20:34to create and refine those prototypes,
20:36maybe you need to go away
20:39and think how would I actually
20:41make this a business which has scale
20:43if this is your passion and you love it.
20:46So, that would be my advice to you,
20:48but on that basis, I am out.
20:50Okay, thank you.
20:53Pete.
20:54Do you care?
20:55There's no doubt you're a good engineer.
20:58And I think you've got a bottle
21:00that you think solves one problem,
21:04but you could put another lid on there
21:06and solve another problem.
21:09You could make it that
21:12this water bottle could have two compartments
21:14where one's water
21:16and one's a smoothie
21:18or whatever.
21:20all I'm trying to say to you is...
21:22It's rubbish how it is,
21:23is what you're trying to say
21:24and you're trying to change it.
21:25Is that what you're trying to say?
21:26Well, no, I'm just saying
21:28Pete's an engineer.
21:30I'm just throwing things at him.
21:31When he leaves the den,
21:33he can never think.
21:34But I think he's got a great product,
21:36does exactly what it is on the tin.
21:37It's just the scale
21:38of the size of the opportunity.
21:39Yeah, yeah.
21:40Well, that's why I'm saying
21:41is how can I tweak it
21:42to have wider appeal?
21:44That's all.
21:45You know?
21:46Yeah.
21:46But unfortunately, today,
21:47I can't invest them out.
21:51And Pete, I mean,
21:52I honestly,
21:53I'm not your natural investor.
21:55And it's very rarely
21:56I look at something and think,
21:58I haven't got a clue.
22:01And that's what I feel like with this.
22:03I haven't got a clue.
22:05I don't know whether it's brilliant,
22:06amazing, everyone's going to buy it.
22:08But it doesn't feel
22:10like it's going to catch light
22:12in the way it needs to.
22:15And sadly,
22:16I just don't see the scale.
22:18But I do wish you all the best.
22:19Thanks for that.
22:20But I'm out.
22:24I'll be really honest, Pete.
22:26I'm looking at it
22:27and I'm just thinking,
22:27it's fantastic that you've invented
22:29a product and sold
22:30£135,000 worth of it.
22:32I'm not convinced
22:33you're going to build it
22:33to a million pound a year business.
22:35And I think if you do,
22:36someone else is going to come along
22:37and eat your dinner.
22:38And so I just don't say
22:40that it's ever going to work
22:41from an investment standpoint.
22:42So you go and make some hair
22:43while the sun's shining
22:44and best of luck with it.
22:46But I'm out.
22:47Okay, thank you.
22:50Pete.
22:52So the business is really, really early.
22:54It's really, really early.
22:56So a lot of the questions
22:57are about vision
22:57and about what comes next
22:59because it's hard to just invest
23:02in like a water bottle
23:02with a different top.
23:05What's more defensible
23:06is if you're able to build a range
23:08and a brand
23:09and that's going to take some time.
23:11So I can't invest today
23:13on the basis of the product
23:14I see here in front of me,
23:15unfortunately,
23:15because there's just not enough here.
23:21But I can invest today
23:22on the basis of you
23:24and the belief
23:25that you'll do something good
23:27because I always believe
23:29fundamentally what you're investing
23:30in in business is people.
23:31I see someone
23:32that's going to be successful.
23:35So I can invest in that.
23:39And so I'm going to make you an offer.
23:42But my offer is actually,
23:43it's factoring in the fact
23:45that this might not work out.
23:49So I have to kind of price that
23:51into the model
23:51that I'm investing in
23:52over the long term.
23:53This is a 10-year investment
23:54for me, maybe more.
23:55And it's really investing
23:57in the person I see here today
23:58as a potential business partner.
23:59So I'm going to make you an offer
24:00for all of the money.
24:02And I want 33% of the business.
24:05And I'd actually like you
24:06to come work with us.
24:07Be around our people.
24:09Lots of different ideas
24:10and inspirations there
24:11from e-commerce to marketing.
24:13Build your business there
24:14and we'll see what we can do.
24:15I think you're a great person.
24:16And if it doesn't work out,
24:18just come work in a different team
24:19building something else.
24:24Wow.
24:25Go think of all of you.
24:26I think my poker face
24:27just let me out.
24:28Okay.
24:29I'd be so honoured
24:30to accept that offer.
24:32Let's do it.
24:32Yeah, thank you very much.
24:34Well done, brother.
24:35Thank you so much.
24:36Well done.
24:36It was really, really impressive.
24:37Really impressive.
24:38A weight off Pete's mind.
24:40Thank you, Mayor.
24:41That was awesome.
24:41Thank you so much, everyone.
24:42It was awesome.
24:43What up, Pete?
24:45As a deal with Stephen Bartlett
24:47raises the bar
24:48for future success.
24:50Oh, that was insane.
24:52Yeah, I don't really know
24:52what happened.
24:54Still trying to process it.
24:55It was really crazy.
24:56And then Stephen,
24:57when he said he couldn't invest
24:58on the business,
25:00I was like,
25:00really disappointed.
25:01And then
25:03hit me with the reverse.
25:05So,
25:05so cool.
25:22Hi, I'm Sandy.
25:24I'm from London,
25:25but I'm originally from Macau.
25:28And I've been craving
25:30for food from home.
25:32So I have to come up ways
25:33to kind of mimic
25:34my mom's recipe
25:36and just food from home.
25:38Love some dim sum.
25:40Ah, dim sum.
25:42Oh, there's some samples.
25:44We're on to a winner.
25:53Hi, Dragons.
25:54I'm Sandy.
25:56And I'm the co-founder
25:58of Love Some Dumplings.
25:59We're a fresh dumpling brand
26:02and our mission
26:03is to bring
26:04new flavours,
26:05excitement
26:06and a variety
26:07of dumplings
26:07to the UK consumers.
26:09We reckon it could become
26:10as popular
26:11as fresh pasta.
26:13Let me tell you a bit
26:14about myself.
26:15I used to work
26:16as telecommunication consultant,
26:18but then
26:19I always loved food.
26:21So,
26:22I signed up for MasterChef
26:23back in 2020.
26:25And I was very lucky
26:27to cook all the way
26:28to the final,
26:29which gave me the confidence
26:30to make the leap
26:31and I found it love some.
26:33We make everything fresh
26:35in London
26:36with quality ingredient.
26:38Our dumplings store well
26:39in the fridge
26:40and customer
26:41can just reheat them
26:42and cook them
26:43at home
26:43just under eight minutes.
26:46To start with,
26:47we launched online.
26:48But it became
26:49quite obvious
26:49that the online business
26:51doesn't align
26:52with our bigger goal
26:53of making Love Some,
26:54the number one brand
26:55in the UK.
26:57So,
26:58we've relaunched
26:59in January
27:00and since then
27:01we've already sold
27:02over 150,000 dumplings
27:04to 25,000 shoppers.
27:07And to date,
27:08we're listed in Selfridges
27:10booths in the Northwest
27:11and another 100 retailers.
27:13And our next step
27:14is to unlock
27:15the bigger supermarket.
27:17I'm here
27:18asking for an investment
27:20of 50,000 pounds
27:21for 5%
27:23of the company's share.
27:26But before anything else,
27:28would you love
27:29some dumplings?
27:30Absolutely.
27:32A range of dumplings
27:34with a difference,
27:35which can be heated
27:36and consumed at home,
27:38are the proposition
27:39from Sandy Tang.
27:41Shall I take that one?
27:41Yeah, thank you so much.
27:43She's seeking
27:4450,000 pounds
27:46in exchange
27:46for a 5% share
27:48of her business.
27:49There I am.
27:50Lovely.
27:50Thank you very much.
27:51Thank you so much.
27:53Sandy's dim sum
27:54may be delicious,
27:56but will they add up
27:57to an investable business?
28:02Well, congratulations
28:03on getting to the final
28:04of MasterChef.
28:06Let's see whether you get
28:07anywhere in the den.
28:08Yeah.
28:09I must say,
28:10about 20 years ago,
28:11I was introduced
28:12to a dumpling
28:13with pork inside it
28:14and I've loved it
28:15ever since.
28:16So, I'm a fan.
28:18I want to go
28:19really quickly, though,
28:21to the business
28:21because you launched it
28:22in January.
28:23Yes.
28:24Tell me what your sales
28:25have been since January.
28:27We're turning over
28:27100,000.
28:28Okay.
28:29What's your gross margin?
28:3165, 68.
28:33Wow, so you've done
28:3468,000 gross margin
28:35so far.
28:36Yeah, yeah.
28:37How much have you
28:38invested in the business?
28:41We have raised
28:43two million recently.
28:45Wow.
28:46How much?
28:46One.
28:47You raised two million pounds?
28:48Yes.
28:49Where did you raise that?
28:50Who gave you the two million?
28:52So, it's from friends
28:53and family.
28:55Wow, you've got
28:56some nice friends,
28:56haven't you?
28:57Can I ask you, Sandy,
28:59what percentage
29:00of the business
29:00did you give away?
29:01I own half of the business.
29:03So, you gave 50% away,
29:05straight away?
29:06Yes, that's right.
29:06Okay.
29:07And how much money
29:08have you got left?
29:10We have spent
29:13one million.
29:15You spent a million.
29:15What have you spent it on?
29:17Rent, machinery,
29:19because we're manufacturing
29:19everything by ourselves.
29:22What's your burn rate,
29:23your monthly burn rate?
29:24So, what's your total
29:25costs of running
29:26your business?
29:27About 40,000.
29:2840,000, okay.
29:29Sorry.
29:32Sandy,
29:33just to work this out,
29:34you've got
29:35sufficient working capital,
29:38you've got a factory,
29:41it's a little bit,
29:43you're now chasing yourself
29:45to fill the factory,
29:46correct?
29:47Correct.
29:48We are not
29:48at full capacity yet,
29:52but we will outgrow ourselves
29:53if we acquire more customers.
29:55Okay.
29:56You're turning over
29:57100,000 pounds.
29:58With the planted equipment
29:59that you've got
30:00at the moment,
30:01what sort of turnover
30:03could you go up to
30:05with your existing
30:06production or equipment?
30:08Well, 5,000.
30:10About, I would say,
30:11a million in the current.
30:13One million pounds a year?
30:14Yes.
30:14It's very small
30:15at the moment,
30:16but we have plans
30:17to move to a bigger side,
30:18which is already ongoing now.
30:20It's a proper factory.
30:22Right.
30:22And what sort of investment
30:23would that take?
30:24So, you've got
30:25a million pounds
30:25left in cash.
30:26Yeah.
30:26You're burning
30:2740,000 a month.
30:29Yeah.
30:29You've got plans
30:30to move to another factory,
30:33which will take up
30:34more of your funds.
30:35So, the new factory,
30:36the cost of that
30:37would be
30:38one and a half million.
30:40One and a half million?
30:41Yes.
30:44So, I'm a little bit
30:48perplexed.
30:49You're setting up
30:51a factory
30:51that can manufacture
30:54for your growth.
30:56Correct.
30:57But your current facility,
31:00you can actually
31:01increase your turnover
31:02ten times
31:05before you need
31:06that factory.
31:06Yes.
31:07So, what is it
31:08in your forecast
31:09that makes you think
31:11that you need
31:11to actually move
31:13into a new factory
31:14now?
31:15So, the quantity,
31:17let's talk about quantity.
31:19No, let's talk
31:19about forecasts.
31:20Uh-huh.
31:21Yeah, let's talk about
31:21what I would like
31:22to talk about.
31:23Okay.
31:23What does this business
31:25look like going forward?
31:27So, year two next year,
31:29our assumption is
31:30we'll get a listing
31:31in one of the big supermarkets,
31:34which we're already
31:35talking to.
31:36We'll be turning
31:37over two million.
31:39And the big supermarket
31:41that you're talking to,
31:42have they given you
31:43an indication
31:44of their anticipated sales?
31:47Um, we are,
31:49we're still at the stage
31:51of sampling
31:52and, you know,
31:54like, yeah,
31:55trying to get there.
31:56Okay, so you really,
31:58that's just conversations
31:59going on.
31:59So, your current overhead
32:01was 40,000 a month.
32:02What is your overhead
32:03going to look like
32:04when you're running
32:05that factory?
32:06I think we put
32:07a assumption
32:08of about 400k.
32:10So, you are building
32:12a huge cost base
32:14into this business
32:15without any serious indication
32:17that you're going to land
32:20that big supermarket deal.
32:25Correct.
32:27But I would say
32:29that we,
32:30it's a very chicken
32:31and egg question
32:32because if we don't
32:34have the capacity,
32:35we can't even
32:36have a conversation.
32:36But, Sandy,
32:37it's always
32:37a chicken-egg situation.
32:39But what you do
32:40in business is
32:41you sense the moment
32:42at which you are likely
32:44to get that growth.
32:46You're constantly
32:47either under-resourced
32:49and you have to
32:50go like crazy
32:51or you're over-resourced
32:53because you're building
32:53for the next one.
32:54But you,
32:56at the moment,
32:57are taking yourself
32:58into a whole
33:00different ballgame
33:01without a glimmer,
33:02a glimmer
33:04of knowledge
33:06that you might well
33:07get into one
33:07of the supermarkets
33:08other than a conversation
33:09and that makes it
33:10very hard to invest.
33:12So I'm afraid
33:13I won't be investing.
33:14I'm out.
33:19Sandy,
33:20I've been involved
33:21in factories
33:22all my life
33:22and the problem is
33:24when you've got
33:25an overcapacity,
33:26you tend to be
33:28making decisions
33:29that are more
33:30factory-based
33:31rather than
33:31brand-based
33:32and business-based
33:33because you want
33:34to fill the factory.
33:36and that is
33:37a red flag
33:39to me
33:40and for that reason
33:41I'm not going
33:42to invest them out.
33:47Sandy,
33:48when you start
33:49a business,
33:49sometimes when you've
33:50got too much money,
33:51you don't always
33:52make the best decisions
33:54because you've got
33:55options and you think,
33:56oh, well,
33:56let's own the factory already.
33:59You know,
33:59whereas somebody
34:00perhaps starting
34:00with a very small amount
34:01and scraping and scraping
34:03would think,
34:03we really can't afford
34:04to do that yet
34:05so we've got to,
34:06you know,
34:06slowly scale up
34:07the business
34:08and I think my worry
34:10a little bit
34:11is that
34:12you do have this
34:13access to cash
34:15which is really
34:16fortunate for you.
34:19I just don't understand
34:20totally your motivation
34:23so for that reason
34:25I'm out.
34:30Sandy,
34:31your dumplings
34:32are absolutely amazing
34:34but you've come in here
34:35and valued a business
34:37at a million pounds
34:39and then I'm sitting here
34:40trying to weigh up
34:41well,
34:41how have we arrived
34:42at that valuation?
34:43You're burning cash
34:44at a rate of 40,000 a month
34:46and you're not just
34:47trying to run
34:47before you can walk,
34:48you're in the next town
34:50and it would be terrifying
34:51for me
34:52to have any of my money
34:53in there
34:54so it's definitely
34:55not an investment
34:56I would be involved in
34:57and I'm out
34:57but good luck with it.
35:03I have to say,
35:04you know,
35:04you've taken a bit of flack
35:05for a variety of reasons
35:06but the branding is great
35:09and even I like
35:10I like the name as well
35:11Lovesum
35:11I think it's a really great name
35:12and I like what you've done
35:13with the packaging
35:14you referenced at the start
35:15that you think
35:16dim sum and dumplings
35:17are having a bit of a moment
35:18can you quantify that at all
35:19with any research
35:20or data?
35:23Not on top of my head
35:25no
35:28but with Isu
35:29it would take me
35:3010 minutes
35:30if I could get to my phone
35:31to look at the data
35:33have you looked at
35:33Google search trend data
35:34which is free and available
35:37I can definitely
35:38look at it
35:39have you?
35:40no
35:41we've done some research
35:42piece back then
35:43but those numbers
35:44are just not on top
35:45of my head
35:46see I think
35:47if I was running
35:47your business
35:48there's nothing
35:48that would be more
35:49on top of my head
35:50than what's going on
35:50in the market
35:52one of the sort of
35:52key propositions
35:53of the story you're
35:54telling today
35:54is that this is
35:55a growing market
35:56we're early
35:57but we've timed it right
35:58and to convince me
36:00that you've timed it right
36:00I would need to know
36:01that that wave
36:02was coming into shore
36:04but for me
36:04that's relying
36:05on a lot of ifs
36:06so I'm going to say
36:07that I'm out
36:08but I wish you the best
36:09thank you
36:13Sandy
36:16you clearly
36:17are good at cooking
36:18and you're clearly
36:19good at creating
36:20the fact that you've
36:21got to the final
36:21a master chef
36:23but to come in here
36:26without a very clear plan
36:28of how
36:29you're going to take
36:30investment
36:31and how this business
36:32functions financially
36:34was a massive
36:35massive risk
36:36why did you take that?
36:39because we've already
36:41well we've got
36:41the shelf ready product
36:42we have a plan
36:43that we can sell
36:45to supermarkets
36:47but obviously
36:48the most important thing
36:50is we need help
36:51I genuinely think
36:53you need a lot more
36:53than help
36:56I think you
36:57you absolutely
37:00desperately
37:02need me
37:07I absolutely love this
37:09thank you
37:11I think that this is
37:14completely up my street
37:16and the fact that you are
37:17absolutely bloody useless
37:19at running a business
37:21is absolutely brilliant
37:23because where could you
37:24ever get an opportunity
37:25to invest
37:26in a business like this
37:29with a genius
37:31individual
37:31that clearly knows
37:33creatively
37:33how to create
37:34an amazing product
37:35clearly knows
37:36how to
37:37sell
37:38a product
37:39you've done
37:40everything right
37:41and the bit
37:43that you've done wrong
37:44is where
37:44Peter Jones comes in
37:47so Sandy
37:47you've asked
37:48for £50,000
37:49for 5%
37:53I would like
37:54to offer you
37:55all of the money
37:55£50,000
37:56for 20%
37:57of the company
38:06thank you
38:06thank you Peter
38:09I'm going to give you
38:10a counter offer
38:11back
38:12are we able to
38:15take the money
38:17for
38:18and then we would
38:20give you back
38:21the money
38:21if you could bring
38:22the share
38:23down
38:23to
38:2510%
38:33okay
38:35I will do that
38:40brilliant
38:41yes
38:41you accepting that
38:42yes
38:43yes
38:44well done
38:45yay
38:46I'm so glad
38:47you like it
38:48I'm so glad
38:48I love it
38:49to say I like it
38:50is an understatement
38:51I love it
38:51yay
38:53success for Sandy
38:54as a desire
38:56for dumplings
38:56helps persuade
38:58Peter Jones
38:58to part with his dough
39:02gosh
39:02I'm so happy
39:04excited
39:05especially the
39:06emotional roller coaster
39:08that the dragons
39:09have put me through
39:10I wasn't expecting
39:11that coming
39:12I was so pleased
39:14you made those comments
39:15and just didn't have
39:16the vision
39:29hi I'm Lucy
39:31I'm 24
39:31and I live in
39:32Pembrokeshire
39:33West Wales
39:35I sort of started
39:36my business
39:37by accident
39:38when I was
39:39at university
39:39my products
39:41went viral
39:41on TikTok
39:42though
39:42and that's
39:43how I ended
39:44up where I am
39:44today
39:46is that a cleaning
39:47product or a face
39:48product
39:48it's too pretty
39:49to be a cleaning
39:50product I would say
39:51you're pretty much
39:52dressed like that
39:53table
39:54uh no
39:55I am not
39:56dressed like that
39:57table
39:57can I just
39:57Stephen
39:58a word of advice
39:59try not to say
40:00to a woman
40:01you're dressed
40:02like that table
40:12hi dragons
40:13I'm Lucy
40:14I'm 24
40:15and the founder
40:16of Hair Syrup
40:18we're an accidental
40:19innovative
40:20social-led brand
40:22that sells a range
40:23of natural hair
40:24and scalp oils
40:25and I'm here today
40:26asking for a
40:27£190,000 investment
40:29in return for a
40:303% equity stake
40:32in my business
40:34during my high school
40:35years
40:35I spent some time
40:37bleaching
40:37backcombing
40:38and damaging my hair
40:39to what I thought
40:40was a point of no
40:41return
40:41I decided to embark
40:43on a haircare journey
40:44and this is where I
40:45stumbled upon the
40:46benefits that natural
40:48oils can have
40:48for your hair
40:49and scalp
40:50but there was one
40:51problem with the oils
40:52available on the market
40:53their price tag
40:55so as a broke
40:57uni student
40:57I decided to collate
40:59the raw ingredients
41:00and make my own
41:02and after a few months
41:03of consistent weekly use
41:05the difference I saw
41:06in my hair
41:06was incredible
41:08fast forward to 2020
41:11haircare was one of the
41:12biggest trends on TikTok
41:14and as a keen user of the app
41:16I decided to create a video
41:18documenting my own hair journey
41:20to my surprise
41:21this video went viral
41:23reaching over 600,000 views
41:26and my comment section
41:27was bombarded with the same
41:29question
41:29please can you sell me
41:31a bottle of this hair oil
41:32and I've managed to grow
41:34this homegrown side hustle
41:37into a business
41:38that is projected to turn over
41:396.5 million in 2025
41:43my vision for the future
41:44is clear
41:45I'm hoping for mass
41:47global expansion
41:48but I'm not sure if I can do
41:50this all by myself
41:51so I'm hoping that one of you
41:53will come along with me
41:54on this journey
41:55to take hair syrup
41:56to the next level
41:59A range of hair products
42:01containing natural oils
42:03is the offering
42:04from accidental entrepreneur
42:06Lucy McLeod
42:08I'd like to ask
42:09that you take a little look
42:10at some of our best-selling products
42:13Lucy is seeking
42:15£190,000
42:16in return for a 3% share
42:19in her company
42:20You can have a smell
42:22but they are quite runny
42:23so be careful
42:24you don't spill them
42:25She may be keen
42:27to ensure
42:28there are no spills
42:29but will Lucy's
42:31TikTok-based business
42:32give Stephen Bartlett
42:34the thrills?
42:39Lucy
42:40isn't social media great?
42:42Isn't it just
42:43so great and important?
42:45So your valuation
42:47when you said it
42:47I think it's almost
42:48£6.3 million
42:49so it's pretty staggering
42:50but then you alluded
42:51to the fact that
42:51you're targeting
42:52£6.5 million next year
42:54so could you give me
42:55your financials?
42:57Yes
42:57so
42:592022
43:00we turned over
43:01£130,000
43:03with a net profit
43:05of £42,000
43:07and then
43:08in 2023
43:08we turned over
43:10£1.3 million
43:11with a net profit
43:12of £400,000
43:14and then
43:15in 2024
43:16we turned over
43:18£4.5 million
43:19with a post-tax
43:20net profit
43:21of
43:21£1.4 million
43:24Congratulations
43:25Thank you
43:27Where and how
43:28are you selling
43:29the product?
43:29What's your
43:29most popular
43:30sales channels?
43:32So
43:32we do about
43:3480%
43:35B2C
43:36so we
43:37sell a lot
43:38on TikTok shop
43:38Okay
43:39so direct-to-consumer
43:40Direct-to-consumer
43:41yeah
43:41and then
43:42we also sell
43:43a lot
43:43through our website
43:44What percentage
43:45is TikTok shop?
43:4749%
43:48Wow
43:51Lucy
43:52congratulations
43:53Thank you
43:54Absolutely fantastic
43:55it's so lovely
43:56to hear
43:57such a great
43:57success story
43:58Thank you
44:00what's the next step
44:02what's your dream
44:03So I
44:05have obviously
44:06kind of
44:07dipped my toes
44:08in the world
44:09of entrepreneurship
44:10and
44:11I really like
44:12the idea
44:12of
44:14continuing
44:15to be
44:15an entrepreneur
44:16because I think
44:17I've done an
44:17okay job
44:18at it
44:19so far
44:19so yeah
44:21I'd like to
44:23expand
44:24So you're
44:24going to
44:24create other
44:25products
44:26other
44:26could be
44:27other
44:28skin products
44:29it could be
44:30That's the idea
44:31I might move away
44:32from cosmetics
44:32one thing I really
44:34want to do
44:34one day
44:35is revision books
44:37because I
44:37was a sucker
44:39for them
44:39when I was younger
44:40and there was a
44:40very limited market
44:41so once this
44:43has become
44:44slightly more
44:44passive for me
44:45and I'm not
44:45such an active
44:46part of it
44:47I was thinking
44:48something like
44:49that could be
44:49quite cool
44:50So if I was
44:51to invest in you
44:52Yes
44:53I always like
44:54to work out
44:55how I get out
44:55before I get in
44:56Yes
44:57So if I'm
44:58going to invest
44:58in you
44:59what does my
44:59future look like?
45:02So
45:03we are looking
45:04at a 6.5
45:05million turnover
45:06in 2026
45:08an 8.4
45:09million in
45:112027
45:12and a 10
45:13million in
45:132028
45:15so I would
45:16say that
45:17hopefully you'd
45:18be coming
45:18along with
45:19me to
45:19get this
45:21looking better
45:22selling better
45:23and being
45:24all over the
45:25world
45:25hopefully
45:26Okay
45:26But by then
45:27you've become
45:28passive in your
45:29business and
45:29moved on to
45:30the next thing
45:30so where does
45:31that leave you
45:31Peter?
45:32Have you got
45:32out already?
45:33Yeah that's
45:34what I worried
45:34about
45:34because if you're
45:36off doing all
45:36these wonderful
45:36things and
45:38am I still
45:38there?
45:39I've still got
45:39my 3%
45:40but
45:40Well one thing
45:41I will say
45:42is Hair
45:43is a very
45:44much a founder
45:45led brand
45:45as you've
45:46probably gathered
45:47from the
45:47success across
45:48social media
45:48so I don't
45:50have any plans
45:50to sell the
45:51business
45:54Lucy one
45:55question for
45:55me how much
45:56dividend do
45:57you plan to
45:58take this year
45:59out of the
45:59business?
46:00I don't take
46:00dividends
46:01So what do
46:02you take then?
46:03I take a
46:03wage
46:04Okay and
46:06do you have
46:06no plans to
46:07take any
46:08dividends?
46:09Um probably
46:10not for the
46:11next while
46:12no
46:12So Lucy
46:13how are you
46:14intending
46:15that an
46:15investor
46:16gets a
46:16return
46:17on their
46:18investment?
46:19Well I
46:20always saw
46:20that the
46:21return of
46:21investment
46:21would just
46:22come through
46:22naturally
46:23with the
46:24revenue growth
46:24of the
46:25company
46:25But that
46:26money sits
46:27so what
46:28happens with
46:28the company
46:29it creates
46:30money
46:30Yes
46:31And that
46:31sits and
46:32is owned
46:32by the
46:33company
46:34Then you
46:35have to
46:35make a
46:36decision
46:36to take
46:38that out
46:38of the
46:38company
46:38and that's
46:39called
46:39dividends
46:40Yes
46:40But you've
46:40just said
46:41to Tuca
46:41that you're
46:42not going
46:43to pay
46:43dividends
46:44in the
46:44future
46:44Now I'm
46:45not trying
46:45to catch
46:46I think
46:46you don't
46:46really
46:47understand
46:47the
46:47mechanics
46:48of how
46:49companies
46:49work
46:51I'm not
46:51great
46:52with that
46:52side of
46:53things
46:53The only
46:54reason I
46:54haven't
46:54taken
46:55dividends
46:55though
46:56is because
46:56I am
46:57the only
46:57shareholder
46:58and I
46:59take quite
47:00a good
47:01wage
47:01myself
47:01but yeah
47:02I mean
47:03for sure
47:03dividends
47:04is definitely
47:04something
47:05So there's
47:06two things
47:06that happen
47:07when investors
47:08invest in
47:08businesses
47:09Yeah
47:09So you
47:10get dividends
47:11on an ongoing
47:12basis and that
47:13relies on you
47:13producing a
47:14high level
47:15of profit
47:15So if I
47:15put £190,000
47:17for 3%
47:18of the company
47:19if you
47:20declared a
47:20dividend
47:21of £100,000
47:23I would
47:23get £3,000
47:25of that
47:25So you
47:26can imagine
47:27you're going
47:28to have to
47:28earn an
47:29awful lot
47:29of money
47:30to pay
47:30me back
47:31my £190,000
47:33before you
47:33even start
47:35giving me
47:36a return
47:37on my
47:37£190,000
47:38So without
47:40an event
47:41that actually
47:42says you
47:43can get
47:44some of
47:44your cash
47:45out
47:45like a
47:46sale
47:47that £190,000
47:48gets locked
47:49up with
47:50very little
47:51return on
47:52it
47:52in real
47:53terms
47:53So it's
47:54quite hard
47:55to understand
47:56unless you
47:57can explain
47:58to me
47:58as an
47:58investor
47:59how I'm
48:00going to
48:00get some
48:00return on
48:01my
48:01investment
48:04Well
48:04like I
48:05said
48:05for the
48:05next
48:06few
48:06years
48:07I
48:07definitely
48:08didn't
48:09have
48:09any
48:09plans
48:09of
48:10selling
48:10it
48:10but
48:11I
48:12would
48:12make
48:13sure
48:13that
48:14whoever
48:14invests
48:15the dividends
48:16and everything
48:17is all
48:17Yeah the
48:18trouble is
48:18you have
48:19to generate
48:19£6 million
48:20worth of
48:21profit
48:21not turnover
48:22to pay
48:23me back
48:24my
48:25£190,000
48:26no return
48:28on that
48:28at all
48:28To double
48:29my money
48:30you've got
48:31to produce
48:31£12 million
48:32worth of
48:33profit
48:34Profit
48:35We're not
48:36talking turnover
48:37Unless
48:37you are
48:38willing
48:38to look
48:40in a
48:40reasonable
48:40timescale
48:41at an
48:41exit
48:42and you
48:43actually
48:43just said
48:44you're
48:44really not
48:44keen
48:44on that
48:48I think
48:48Lucy
48:49doesn't
48:49know
48:50I
48:51don't
48:51really
48:51know
48:56Lucy
48:56I think
48:56it's
48:58awesome
48:58I think
48:59you've
48:59done
48:59an
49:00incredible
49:00job
49:00to get
49:01a business
49:01making
49:02£1.4
49:02million
49:02is
49:03off the
49:04chart
49:04great
49:05however
49:06because
49:07of the
49:08fact
49:08that
49:08you
49:10genuinely
49:10haven't
49:11thought
49:11about
49:12what
49:12an
49:12investor
49:12would
49:13want
49:13I
49:14think
49:14any
49:14investment
49:14offer
49:15from
49:15me
49:16would
49:16place
49:16you
49:16in
49:17a
49:17situation
49:17where
49:17I'm
49:18now
49:18going
49:18to
49:18have
49:19to
49:19steer
49:19and
49:19control
49:20you
49:20I
49:20wouldn't
49:21want
49:21to
49:21do
49:21that
49:23so I'm
49:23going to
49:24say
49:24that I'm
49:24out
49:25but
49:26congratulations
49:27for what
49:27you've
49:27done
49:28okay
49:31so I
49:32think you've
49:32got amazing
49:32hair
49:34which is
49:35really the
49:36underpinnings
49:36of the
49:36whole
49:37thing
49:38but
49:39I've
49:40been in
49:40another
49:40business
49:41that I
49:41invested
49:41in
49:41through
49:41the
49:41den
49:42but
49:42was
49:42not
49:42in
49:42this
49:42area
49:43but
49:44actually
49:44after
49:44the
49:45den
49:45we
49:45went
49:46massive
49:46on
49:46TikTok
49:46my
49:47god
49:47we
49:48rode
49:48that
49:48wave
49:48hard
49:49but
49:50then
49:50the
49:50problem
49:51is
49:51we
49:51were
49:52massive
49:52nothing
49:53and it
49:54dried up
49:55overnight
49:55so I feel like
49:57I've experienced
49:58first hand
49:58how big the
49:59come down can be
50:00after the
50:01highs
50:01so take
50:02so take
50:02away from
50:03you
50:03this is
50:03an
50:03outstanding
50:04business
50:05but
50:06it worries
50:07me too
50:07much
50:07from an
50:08investment
50:08standpoint
50:10and for
50:10that reason
50:11Lucy
50:11I'm out
50:16Lucy
50:17I think
50:18you've done
50:18a really
50:18wonderful job
50:19I think
50:19you're wonderful
50:20as well
50:22but
50:23I
50:23personally
50:24am a little
50:25bit concerned
50:25about your
50:26dependency
50:27on one
50:28particular
50:28platform
50:29to generate
50:2950%
50:30of your
50:31sales
50:31because
50:32when I heard
50:33this 50%
50:33number
50:34I go
50:35oof
50:35we need
50:36a life raft
50:38so for that
50:39reason
50:39I'm going to say
50:40that I'm out
50:40but I wish you
50:41the best
50:45sorry guys
50:46I feel like
50:47I just haven't
50:47sold it
50:48well enough
50:48Lucy
50:49I've never
50:50seen
50:50somebody at
50:5124
50:51who's become
50:52a multi-millionaire
50:53look quite so
50:53crestfallen
50:54you know
50:55you were still
50:56getting more
50:56and more
50:56crestfallen
50:57and you're
50:58not listening
50:58to what's
50:59being said
50:59here
50:59it's incredible
51:01incredible
51:02what you've
51:03achieved so far
51:03and I still
51:04know you're
51:05not hearing it
51:05because that
51:06smile's not
51:06doing it
51:07but go away
51:08and think
51:08about that
51:09later
51:10listen for
51:11me
51:12you're
51:12brilliant
51:14but
51:14you have
51:15made it
51:16difficult
51:16for an
51:16investor
51:17so I'm
51:17really
51:17and I
51:18am
51:18really
51:18sorry
51:18Lucy
51:19but I
51:19won't
51:19be
51:19investing
51:20I'm
51:20out
51:20okay
51:24gosh
51:24sorry
51:24I feel
51:25like I've
51:25just
51:25made half
51:26of this
51:27and how
51:27everyone
51:27stop
51:28bloody
51:29apologising
51:29darling
51:30okay
51:31okay really
51:31take a deep
51:32breath
51:33think
51:36I've been
51:36four million
51:37in three years
51:37you know
51:38I've done
51:39four million
51:39who else
51:39can say
51:40that
51:40my daughter
51:40is 20
51:41you're three
51:41and a half
51:42years older
51:42than her
51:42and my
51:43god
51:43if she
51:44would be
51:44where you
51:45are today
51:45I'd be
51:45so proud
51:46so proud
51:48I think
51:49what's
51:49interesting
51:50in your
51:50business
51:51is
51:51you know
51:52your
51:53growth
51:54I'm going
51:54to say
51:55is
51:56great
51:57but
51:59I feel
52:00there's a
52:01gut in my
52:02feeling here
52:02which is
52:03you have a
52:03zeitgeist
52:04moment
52:05and I
52:05don't know
52:06the longevity
52:06of the
52:07brand
52:07okay
52:08you can
52:09look at
52:09beauty brands
52:10out there
52:10and you can
52:10think which
52:11one will be
52:11there in
52:12ten years
52:12and which
52:13one is a
52:13moment
52:15I think
52:17the biggest
52:18risk to me
52:19is
52:19is this a
52:20moment in
52:20time
52:21or is it
52:22going to
52:23turn in
52:24something big
52:24and I do
52:25not know
52:25the answer
52:26to that
52:26and I
52:27don't love
52:27to invest
52:28in trends
52:29I like to
52:30invest in
52:30things which
52:31ultimately
52:31will have
52:32longevity
52:33if you've
52:33been asking
52:34for less
52:34let's say
52:35£100,000
52:36I would have
52:37been willing
52:37to take the
52:38risk
52:38but £190,000
52:40I'm not
52:41willing to
52:42and so for
52:43that reason
52:43I'm out
52:46Tuka
52:47is it
52:48you
52:48um
52:48wow
52:52what do
52:52you want
52:53from a
52:53dragon
52:54um
52:56I want
52:57someone
52:57to
52:59grow
53:00with me
53:00and
53:02help me
53:03to
53:06not make
53:07mistakes
53:07that I'm
53:08probably
53:08am going
53:09to make
53:09without
53:10someone
53:10I want
53:11someone
53:12to
53:12come on
53:13a journey
53:13with me
53:13because I
53:14I totally
53:15appreciate
53:15your guys'
53:16thoughts
53:16because of
53:17the way
53:17that it's
53:17gone on
53:18TikTok
53:18you know
53:19because it's
53:19so big
53:19on TikTok
53:21but I think
53:22it's good
53:22that we've got
53:23a real concrete
53:24foundation there
53:25but what I want
53:26or need
53:27from a dragon
53:28is mentorship
53:30is mentorship
53:30and help in
53:33navigating
53:33what's that worth
53:35and I say that
53:37what's it worth
53:38right
53:39because
53:40how do you get
53:42your money out
53:43yes
53:43and you don't
53:44and you don't need
53:44money
53:45no
53:47but you need
53:47a dragon
53:50the complication
53:51here is
53:52how do I get
53:53my money back
53:56right
53:59how do I
54:00make you
54:00an offer
54:01where I get
54:01my money back
54:02really quickly
54:05well make her one
54:06well I will
54:07make you one
54:09and I think
54:10what you need
54:11is a mentor
54:14not to make
54:15mistakes
54:15and probably
54:17you need to have
54:18a retail strategy
54:19which I think
54:20at the moment
54:20you haven't got one
54:21nope
54:22but I think
54:23you need an insurance
54:24policy against TikTok
54:25as well
54:27definitely
54:27and that would be
54:28you know
54:29a way
54:30that I could guide you
54:31I'm not going to run
54:33the business for you
54:34if I get involved
54:34but I will guide you
54:36so you don't make
54:37any mistakes
54:39okay
54:41so I will give you
54:42all of the money
54:43190,000
54:45for the free percent
54:47as long as I get
54:48my money back
54:49within three months
54:49and keep the free percent
54:54right
54:55and I will be
54:55your best mentor
55:00okay
55:01I can do that
55:02you can do that
55:03what
55:03I can do that
55:05and you're basically
55:06giving away
55:07those shares
55:11I just need you
55:12to be really clear
55:13understand
55:20do you want to go
55:21think of the wall
55:23yeah
55:24my head is just
55:25yeah just go for a drink
55:26water and come back
55:27okay thanks
55:30Lucy has a massive
55:32decision to make
55:33Tuka Suleiman
55:35has thought outside
55:36the box
55:37to devise an offer
55:38that honours the
55:39company's current
55:40valuation
55:41sidesteps the slow rate
55:43of return on investment
55:44and also provides the
55:45mentorship
55:46that Lucy was seeking
55:48however his repayment
55:50terms
55:50which would see him
55:52get his 190,000
55:53pounds back
55:54in just 12 weeks
55:56have ruffled feathers
55:57amongst his fellow
55:58dragons
56:00but will the offer
56:01prove palatable
56:02for this entrepreneur
56:12okay
56:14so
56:16I think
56:16I do need a dragon
56:18and
56:19I see
56:20no issue
56:21with the
56:22repayment
56:23of the
56:24money
56:25because I think
56:25that where
56:26where you'd be able to
56:28get with me
56:30would
56:31would be worth that
56:33um
56:35so
56:36you want to accept
56:38that
56:38yeah
56:39great
56:40I do
56:41yeah
56:41great
56:42is that
56:43my dragon's
56:44very excited
56:45why is everyone
56:46making that face
56:47I'm a bit nervous
56:48I just want to make
56:48sure that you're
56:49you understand
56:50you're basically
56:50giving him 3%
56:52of your company
56:53for free
56:54well
56:55where you are
56:55directly
56:56but then you'll have
56:57a dragon
56:57and if you feel
56:58uncomfortable
56:59then say
57:00I don't accept it
57:01I don't want you
57:02to feel
57:03you know
57:04that I've
57:05tried to trick you
57:06in any way
57:07that's not my intention
57:08my intention really is
57:10how do you get
57:11your money back
57:11and I've come up
57:12with a formula
57:13to overcome that
57:16okay
57:18I tell you what
57:19Lucy
57:20I can feel
57:21you're uncomfortable
57:23right
57:24and I don't want
57:25to take away
57:263% for nothing
57:26from your business
57:27so I'm out
57:29okay
57:31thank you Lucy
57:32thank you
57:35Lucy
57:36leaves the den
57:37empty handed
57:41but unusually
57:42it's not because
57:43of a lack of
57:44dragon interest
57:45in striking a deal
57:47look
57:47you guys
57:48didn't want to invest
57:49right
57:50because you
57:51couldn't get your
57:52money out
57:52I tried to find
57:53a solution
57:55I think that was
57:56a good thing
57:59to do
57:59what you did
57:59at the end
58:01I think you were
58:01very
58:02that was an
58:03honourable thing
58:03to do
58:05so obviously
58:06I didn't get
58:06any investment
58:07but what I did
58:08get was a load
58:09of really
58:10really useful
58:11feedback
58:12that I will be
58:14sure to take
58:15on board
58:15and hopefully
58:17help me to
58:18succeed in the
58:19future
58:28next time
58:29on Dragon's Den
58:31I'm not overly
58:32convinced about
58:33a bum spray
58:34there's never
58:35been a product
58:36that is more
58:36well suited for
58:37me than this
58:38and that's why
58:39they teamed up
58:40I'm assuming
58:40the 1%
58:41is for my
58:42other dragons
58:42because I don't
58:43get out of bed
58:44for 1%
58:44you know that
58:45hey that's
58:45way to set
58:46the tone there
58:47Debra
58:47it's what I do
58:48when I want
58:48something
58:48greedy
59:18you