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00:14I'm Caleb Slater and I'm the founder of Cards to Cash.
00:19It's the Christmas special.
00:21There's got to be a twist because gift cards are not new, are they?
00:24No.
00:26And Christmas happens once a year.
00:31I've always had an entrepreneurial spirit.
00:34I spent lockdown buying and selling items to make some extra money
00:38and I had the summer where I wanted to do a project so I founded my business.
00:44Going into the den I'm feeling really, really excited
00:46but at the same time I'm also quite nervous as well.
00:57Hello Dragons.
00:58My name is Caleb and I'm the owner and founder of Cards to Cash.
01:03Cards to Cash is dedicated to unlocking the estimated £480 million worth of unused gift cards every single year.
01:12We've all received a gift card that we know we're unlikely to ever use
01:16only to find it sitting in a drawer years later expired.
01:19It's a frustrating waste of money and I knew there had to be a better way.
01:24That's where Cards to Cash comes in.
01:26With Cards to Cash, sellers get an instant quote for their unwanted gift cards.
01:30If they're happy with our offer, they securely submit their card details through my site.
01:35My team then verify and list the card on the website where another buyer can purchase it at a discounted
01:41rate.
01:43Fast forward 14 days, the buyer will have used the gift card and the seller receives their payment.
01:48It's simple and efficient.
01:51Today I'm seeking an investment of £50,000 in exchange for a 10% share of my company.
01:58While there might be other places to buy and sell gift cards, Cards to Cash aims to be the go
02:03-to gift card marketplace across the UK, Europe and beyond.
02:08Now, a little bit about my story.
02:10I founded Cards to Cash when I was just 16 years old.
02:13With £2,000 I'd saved from buying and selling items on eBay during lockdown, I knew it wasn't going to
02:19be an easy journey.
02:21Dragons, I've built this business with my own two hands.
02:23However, with your investment, expertise and network, I know we can take Cards to Cash to new heights.
02:29Thank you for your time and I invite any questions.
02:33An online marketplace enabling consumers to cash in unused gift cards is the offering from Caleb Slater.
02:42He's seeking £50,000 for a 10% share in his company.
02:48Caleb may be a young entrepreneur, but is his business mature enough to be worth backing?
02:57Hi Caleb. How old are you now?
02:59I'm 18.
03:0018?
03:00Yeah.
03:01Well, great pitch.
03:02And are you at uni or...
03:04No, so I work full-time in IT support.
03:07Really?
03:08Yeah.
03:09And so give us a little journey...
03:11Yeah.
03:12..where you are today.
03:13Yeah.
03:13Is there any revenue or not revenue?
03:16Are you still pre-revenue or what?
03:17So year one, I turned over £7,500 with a gross loss of £100 and a net loss of £1
03:26,200.
03:27Year two, I jumped up to £177,000 in turnover.
03:33£177,000.
03:35Wow.
03:36And a gross profit of £4,500 and a net profit of £3,500.
03:43Right.
03:44And year three, which I've just finished, I turned over £514,000 with a gross profit of £35,000.
03:56Yeah.
03:56And a net of £6,000.
03:59OK.
04:01So tell us...
04:01I just want to know.
04:02So I have a card of £100.
04:05Yeah.
04:06What would I do?
04:07So you would go onto the website and type in the details, the store type and the value of the
04:12card,
04:13and then it will automatically give you a price that we would pay.
04:15It's dependent on every single retailer.
04:18So assuming that I've got £100 at M&S...
04:21Yeah.
04:22We would give you, I think it's about £89 or something along those lines.
04:27And how much will somebody else pay for that?
04:29So they would probably pay in the region of £95, £96.
04:33Really?
04:33Yeah.
04:35It depends completely on the store.
04:37My concern is that the margins are not big.
04:42I think unless you could get 30, 40% off a gift card, it could be tough going.
04:50And I think you can get away with 40% discount.
04:54Have you tried that?
04:55There are...
04:56On stores that are less popular, we get 30% off the card.
05:00And then we sell it in the region of 15% to 10% off.
05:04So some of the margins are much bigger than others.
05:07However, on, like, the more popular websites, we work on smaller margins
05:11and work on the volume of the cards to process.
05:16So this sounds like a really great service.
05:21Yeah.
05:23Why isn't it bigger?
05:27I believe that I need mentoring and an opportunity to make more customers use it.
05:36Caleb, I'm kind of not criticising you, because I actually think you've done rather well.
05:41When you, you know, half a million pounds, in three years, half a million pounds worth of
05:44turnover, and you are not going to get your margins increased, because I am not going to
05:48sell you a card that I can spend on one of these big websites at a 40% discount, am
05:54I?
05:54Because I'm going to spend it on the website, you know?
05:56So you totally, totally rely on big turnover numbers.
06:02So half a million pound is great, but what is it in here that hasn't really turned what
06:09sounds like a cracking idea, hasn't just exploded?
06:14I think it's knowledge that a service like this exists, because I've spoken to many people
06:20that say, look, I want to sell a gift card, or I've got a gift card, and I'm like, you
06:25can
06:25sell it online now, and use my website, but people are like, oh, I never knew that existed.
06:30And people just don't know until they find out, either trying to sell a gift card, or
06:36they stumble across the website online.
06:41What proportion of your traffic is coming from search engines?
06:46I think from last checking, it was about 80% from search engines.
06:50And are you doing anything to optimise your website for AI search engines?
06:54Things like ChatGPT?
06:56So each store that we sell gift cards for has its own description written about it to
07:02say that we sell gift cards for this specific store.
07:05Okay.
07:06I think that's a really big opportunity for you.
07:08I think a lot of people now are moving over to search using AI.
07:11And if your website has sections on it that are answering the most popular questions that
07:16AI is being searched for, then you'll be linked.
07:19And you can find what those questions are.
07:21It does list stuff.
07:22If you go on ChatGPT, it will say you can sell a gift card with cost to cash.
07:27Hmm.
07:29Erm.
07:31I hate gift cards.
07:33Hmm.
07:35And the people who receive them, I always then think, don't necessarily go and get a gift
07:41that you would appreciate.
07:43Yeah.
07:43So I can see why people have got gift cards for a retailer that have had no thought going
07:50into it.
07:50Yeah.
07:51And if they could turn that into cash, that would be an absolute no-brainer.
07:55Yeah.
07:55And the person who's bought it them deserves it as well.
07:57Yeah.
07:58So I actually like the idea of it.
08:00I think it's really clever.
08:03I'm just sitting here feeling really guilty.
08:04I've given my sister all my...
08:06I've given gift cards every year.
08:08Oh, you're one of them!
08:13Look, I think you've done really well, Caleb, to come up with this.
08:19However, to get this to a level where you ultimately need to make money, you're going
08:25to have to have millions and millions of pounds worth of redemptions.
08:30Because, I mean, it's living proof, isn't it?
08:33You've done incredibly well in year three.
08:35Half a million pounds worth of business.
08:38And that's basically enabled you to make 6K.
08:42So the size of this is going to deliver a great return for you.
08:49But as an investor, that still makes it quite tough.
08:52If I was to take 20%, 30%, it's still going to be tough to extract a decent return out of
08:59it.
09:00Yeah.
09:00So I'm sadly going to say that I'm out.
09:04OK.
09:05But I take nothing away from what you've done.
09:07And it's brilliant.
09:10Thank you very much.
09:13So here's my battle in my head.
09:16You're really good.
09:17Really impressive.
09:20I think you will continue to have margin issues.
09:23Yeah.
09:24And therefore, you're relying on turnover.
09:26Yeah.
09:27And that becomes very expensive.
09:32So...
09:33Oh.
09:37Caleb, I'm not going to make you an offer.
09:39OK.
09:40Am I going to make you an offer?
09:43Am I going to make you an offer?
09:45Yes.
09:46Am I?
09:46Yeah.
09:50Am I?
09:51No, I...
09:52So...
09:53No, I'm actually not.
09:54I'm not going to make you an offer.
09:55OK.
09:55You are really, really good.
09:56You've got margin issues in front of you.
09:59You're going to need...
10:00You're going to need a lot of focus.
10:02I would want a big portion of your business.
10:05So I won't...
10:06I won't be making you an offer.
10:08But I think you're really good.
10:11OK.
10:11Thank you very much.
10:12I'm out.
10:13OK.
10:17So you're in...
10:19Did you say you're in full-time employment now?
10:21Yeah.
10:22And my aim is to be working full-time for the business
10:25within two to three years.
10:27Within two to three years.
10:28OK.
10:30OK.
10:33Hmm.
10:35I'm going to tell you where I am.
10:40It's a lot of work.
10:44But it's just perfect for me.
10:52Here comes the offer.
11:01So here's what I'll do.
11:03Here's what I'll do.
11:04This is an offer.
11:05OK.
11:06I would like you to come and work
11:08from our office in central London.
11:10OK.
11:11We have an incubator floor
11:12where we have founders like yourself
11:14who are working on their own businesses.
11:17I'd like you to...
11:18The offer is to leave your job.
11:20OK.
11:21I'll pay you the London equivalent,
11:23so it'll be slightly more than you're getting paid
11:25where you are now,
11:26to come to London.
11:27And I'll give you the 50k investment
11:30for...
11:3233% of the business.
11:35So that's my offer.
11:38Thank you very much.
11:40I want to help you,
11:42but I'm trying to think how.
11:44Because there's quite a lot of work here.
11:47What I'm willing to do
11:49is offer you
11:52half the money.
11:53It's £25,000.
11:55Yeah.
11:55For 15%.
11:57OK.
11:58And I'd like to go in
12:00with another dragon
12:00on this one.
12:02You know,
12:02I want to help you.
12:04OK.
12:08I think you're
12:09absolutely incredible.
12:10I think to do what you've done
12:11at your age
12:12is
12:13beyond good.
12:18And
12:18I would be willing
12:20to share
12:20with Tuca
12:23and
12:24to go for half of the money.
12:25£25,000
12:26for 15%.
12:30OK.
12:33Um...
12:37Thank you
12:38for the offer.
12:41I'd like to accept
12:42your offer, Stephen.
12:43Let's do it.
12:44Thank you very much.
12:45Well done, Dave.
12:46You're so impressive
12:47that you've done your job.
12:48I can't believe it.
12:50Victory for Caleb.
12:52Well done.
12:53Who leaves the den
12:55with the pledge
12:56of £50,000
12:57having drawn in a dragon
12:59with the expertise
13:00to nurture his business
13:02and his business career.
13:06How good was he?
13:07Brilliant.
13:08Wow.
13:08And guys,
13:09you're brilliant,
13:10but I actually think
13:11your offer was great.
13:13I mean,
13:14that is going to be
13:14a real opportunity
13:16there, Stephen.
13:21It felt a bit surreal,
13:22to be honest.
13:24I can't quite believe it
13:25at the moment.
13:27I'm honestly thrilled
13:28and chuffed to bits.
13:44Wait here, Arman.
13:45Arman, would you like
13:47some water?
13:48I'm Dina Aliyao Samawi.
13:50My business is
13:51Survival Fitness,
13:53which is a children's
13:54calisthenics gym
13:55based in the UK.
13:57Let's just check
13:57ourselves out,
13:58gals and boys.
14:00Oh, bless you.
14:02She is strong.
14:03She is strong.
14:04And we are going
14:05into Dragon's Den
14:06in front of five
14:07extremely successful people.
14:10Let's go then, guys.
14:12I'm nervous,
14:13but I'm more emotional
14:14because I've got here.
14:19And I'm so proud
14:20and I'm so grateful.
14:36Hello, Dragons.
14:37I'm Dina Aliyao Samawi,
14:39the founder of
14:40Survival Fitness,
14:41which is a pioneering
14:42UK's children's
14:44calisthenics gym.
14:45I'm here today
14:46to seek £100,000
14:48for exchange of
14:5020% states
14:51in my business.
14:53Our mission is
14:54bold yet simple,
14:55establish a gym
14:56in every UK city
14:57and expand globally
14:59via a survival
15:00fitness app.
15:01We're now into
15:03year two of the business.
15:04We've enrolled
15:05300 children.
15:07We're at half capacity.
15:09When full,
15:11we project
15:11a total revenue
15:13per location
15:14of £324,000
15:17with a net profit
15:19of £204,000
15:21the business
15:21is at the forefront
15:23of revolutionising
15:24children's fitness
15:25and today
15:27we've got three children
15:28here to show
15:29a few of their
15:30cali moves.
15:31These children
15:32have been taught
15:33by professional coaches
15:34so we don't advise
15:35that children do this
15:36unattended at home.
15:37We have Emily here today
15:39and she's going
15:40to do a full body
15:41pull-up.
15:42Would you like my help?
15:43Are you okay?
15:44She's good.
15:46And pull.
15:48That's my girl.
15:49Oh.
15:50Wow.
15:51And drop.
15:51Well done.
15:52We have Soraya.
15:54She's going to demonstrate
15:55her pistol squats
15:56which is her whole body
15:58going down with that leg
15:59and back up with her squats.
16:01This is Arman.
16:03So Arman's going to demonstrate
16:05a movement called
16:05a support hold.
16:075, 4, 3, 2, 1.
16:12Yay!
16:12Well done.
16:15Thank you for listening, Dragons.
16:16I'd like to thank
16:17the children
16:19and say bye to them.
16:20Thank you very much.
16:22Well done.
16:22Brilliant.
16:23Well done.
16:26A calisthenics-based
16:27fitness programme for kids
16:29with the potential
16:30to be delivered in gyms
16:31throughout the UK
16:32and globally via an app
16:34is the offering
16:36from Dina Ali Al-Samawi.
16:40I'd like to invite
16:41two dragons
16:42to take part
16:43in the Mini Cali class.
16:45Gary and Stephen.
16:46Come on.
16:46Gary, I'm going to go.
16:47Come on, Gary, yeah.
16:48You both need to lie
16:49flat on your backs
16:50for me, please,
16:50with your arms
16:51by your ears
16:52above your head.
16:53And if you can,
16:55try and squeeze
16:56your legs together
16:56as close as you can
16:57to make it nice and neat.
16:59Dina is seeking
17:00£100,000.
17:02Gary, how long
17:02were you an athlete
17:03for again?
17:04Not long enough.
17:05In return
17:06for a 20% share
17:07in her business.
17:09Embrace the core
17:09and you're going
17:10to lift your body
17:11up into a V shape.
17:13Gary Neville
17:14and Stephen Bartlett
17:15may be feeling
17:16the strain.
17:18Come on,
17:19you're like two old guys
17:21trying to get fit
17:21in the living room.
17:22Where's Joe Wicks
17:23when you need him?
17:24So you want a V up.
17:26One, there you go.
17:27Two, there we go.
17:29But crunch time
17:30is fast approaching
17:32for Dina
17:33and Peter Jones
17:34is first to find out
17:35if her business
17:36is fit for purpose.
17:40Dina.
17:41Hello.
17:41Well done.
17:42I thought the guys,
17:43I have to say,
17:44were very impressive,
17:45weren't they?
17:45They probably haven't
17:46done that exercise before.
17:48Could you feel it
17:48in your core?
17:49I can still feel it.
17:50Don't ask them to speak.
17:51I can hear the breathing.
17:54Yeah, it was very impressive.
17:56But I didn't really get
17:58a total understanding
17:59of the business.
18:01Tell me what is
18:02the business itself
18:03that you currently have
18:04and what do you want
18:05to turn it into?
18:06So at the moment,
18:07we have a children's gym
18:09based in Leicester City Centre,
18:11which has the 300 children
18:12enrolled and signed.
18:13Right.
18:14We have our second location
18:15secured and waiting to open
18:16in Loughborough.
18:18With your help,
18:20I would like to have
18:21a survival fitness
18:22in every city in the UK.
18:25Great.
18:26Let's focus on the one
18:27that you have
18:27with 300 kids.
18:29How does it make money?
18:31By all the children
18:32enrolling.
18:32What have you turned over
18:34in the last 12 months?
18:35So the last 12 months' revenue
18:37was £120,000.
18:39Yeah.
18:40With a net profit
18:42of £20,000.
18:44OK, and what was
18:45the gross profit?
18:47£50,000.
18:48OK, and how long
18:49have you been going?
18:50So we're halfway,
18:51almost halfway through
18:52third year.
18:53Well, OK.
18:54Brilliant.
18:55Well done.
18:55Dina, hi.
18:56Hello.
18:56What's your typical age group
18:57then?
18:58What's the profile
18:58of your children?
18:59From five years
19:00to 14.
19:01And how long
19:02are they typically,
19:03you've been going
19:04for three years now,
19:05do they tend to stay
19:06with you for three years
19:07or do they do it
19:08for a year
19:08and then drop out?
19:09We have a 10%
19:11leave-in rate
19:12every 12-week block.
19:15So you're saying
19:16that you get
19:17a 90% retention rate.
19:19Yes.
19:19So that's pretty good.
19:20Yeah.
19:21And you said something
19:22about you've got
19:23300 peoples at the moment
19:24but you're at 50% capacity?
19:27Yeah.
19:28What did you mean
19:29by that?
19:29Because so every location
19:31can fit 574 children
19:34and we've hit that 300 mark.
19:37In year one,
19:38when we first opened,
19:39I opened what we called
19:41back then a baby den
19:42because it was literally
19:43like 700 square feet.
19:45That became full
19:46which is why I moved.
19:49I probably moved too fast
19:51and too big too soon
19:52because had I'd stayed
19:54and just kind of chilled
19:55on the numbers that I had,
19:57that profit would have been
19:58a lot nicer.
19:59But me being me,
20:00I was like,
20:01no, you know,
20:01I know there's more kids.
20:02We had a big wait list
20:03and I just jumped a bit fast
20:06and we went from
20:08a 750, 800 square feet unit
20:10to a 4,000 square feet unit.
20:13So, of course,
20:14the outgoings tripled
20:16but I knew in my heart
20:18I was going to hit those numbers.
20:19You know, I've hit 300.
20:20I would like those numbers
20:21to be 574
20:22but they are 300.
20:23Are they growing
20:24or is 300 pretty much wearing?
20:26They grow every block.
20:27We've lost children
20:28of course
20:29but the numbers keep rising.
20:33Dina,
20:35businesses like this
20:36always seem to be personal.
20:37Why does this mean
20:38so much to you?
20:41Because
20:42when the business
20:43became alive,
20:45I didn't have a penny
20:46to my name.
20:47I didn't have property.
20:48I didn't have a vehicle.
20:49I had nothing.
20:50When I opened my baby then,
20:51it didn't have a shower.
20:53It didn't have a kitchen.
20:54It just had a square unit
20:55with what I called
20:56the Harry Potter cupboard
20:57which was the boiler cupboard.
20:58I had to live in that cupboard
21:00for a year
21:00for me to open the business.
21:02What did you do
21:03to shower and stuff like that?
21:04There was a gym
21:05like one minute 20 walk
21:06so I just joined that gym.
21:09So, are you doing okay now?
21:11You've got somewhere to live now?
21:11Yeah.
21:12Okay.
21:13Yeah.
21:14So, what's the goal?
21:16I want survival fitness
21:18to be global
21:18via an app.
21:20Why?
21:20Because I know
21:21every child needs to know
21:23how to use their body
21:24through calisthenics.
21:25They need to know.
21:27Why?
21:28They can maintain
21:29a healthy fitness.
21:30Okay.
21:30If in the future
21:31a pandemic hits again,
21:32the gyms closed.
21:33What happened
21:34when all the gyms closed?
21:35Everyone struggled.
21:36I was the fittest ever.
21:37I was on the fields
21:38doing Cali.
21:40I love what you're doing.
21:41I think it's critically important.
21:43However,
21:44when you just told me
21:46that you wanted
21:46to start an app,
21:48I just,
21:49I pray you don't do that.
21:51And I'm not sure
21:52whether you said that
21:52because you thought
21:53it was the right thing to say
21:54because it's scalable
21:55and locations aren't,
21:56but starting an app
21:58for this kind of business
21:59would be a bloodbath.
22:01It really would be.
22:02It's so difficult
22:03to get people
22:04to download an app.
22:05It's so, so expensive.
22:06It probably costs you
22:07a £10 note
22:09per signed up user,
22:10not per download,
22:11because you're £10
22:12per person you sign up.
22:13And then
22:14a high proportion of them
22:15will leave.
22:18So you've lost that money.
22:19So what I'm saying to you is,
22:20you know,
22:21I think the biggest enemy
22:23in your business
22:24is basically
22:24the same thing
22:25that was my biggest enemy
22:26when I started my career,
22:27which is focus.
22:28Because when you're doing this,
22:29you might have a bit
22:29of impatience in you.
22:31You want to speed it up
22:31and reach more people.
22:32And that impatience
22:34becomes your worst enemy.
22:35But right now,
22:36you're learning
22:37so much
22:38about the kids,
22:39about you,
22:40everything,
22:41about business.
22:42If you have patience
22:43with yourself,
22:43it'll be slow,
22:44then it'll be fast.
22:46And in 10 years' time,
22:47you'll know so much
22:48about this
22:48that you'll be rolling out
22:49franchises and training coaches
22:51all over the world.
22:52But be patient with yourself.
22:53Yeah.
22:55It's super admirable
22:56what you've done.
22:58But I think this is
22:59a business for you,
23:00so I'm going to say
23:00that I'm out.
23:01But thank you
23:01for doing what you're doing
23:02for children.
23:06Dina, I couldn't actually,
23:07I think that was
23:09brilliantly put.
23:10It is so true
23:12that you haven't yet
23:14bottomed out
23:15the full potential
23:16of what you're currently doing.
23:18You can still take on
23:20more children.
23:21And it might well be
23:22that Loughborough
23:23is a quick follow.
23:24And having the world
23:26there
23:27is a really great target.
23:30But you need to spend
23:32enough time here
23:35honing up on this
23:36before you start
23:37focusing there.
23:38And then when you're ready,
23:40go for it.
23:41But I don't really think
23:43you're investment ready yet.
23:44So I'm out.
23:45OK, thank you.
23:48Dina.
23:52It's really,
23:53it's great
23:53what you've done.
23:55But
23:56I think this is
23:57really difficult
23:58to invest in
23:58at this moment
23:59because
24:00this as a type
24:01of business
24:02is very much
24:02reliant on you
24:04to replicate you
24:06to grow this business.
24:07That's,
24:07that's not easy.
24:09I think this is
24:10a business
24:10for you as well.
24:12So for all
24:14of those reasons,
24:14sadly,
24:15I'm out.
24:20Dina,
24:20what you're doing
24:21is absolutely incredible.
24:23But I think
24:24this is very much
24:25at this stage
24:26in your sort of
24:27what would be journey,
24:28a local play
24:29where you absolutely
24:30become the known person
24:32in your sort of
24:33borough
24:34and city
24:36for being,
24:37I suppose,
24:38the most responsible
24:39for driving health outcomes.
24:40And I think if you did that,
24:41not only will you get
24:42where you want to be
24:44commercially,
24:45but you'll get
24:45where you want to be in life.
24:46I think more than anything,
24:47you've got an incredible heart.
24:49And you've got a soul
24:50that wants to give back
24:51to children
24:52and make sure
24:52that you can teach them
24:53and drive them forwards.
24:55So I would concentrate
24:56on your local play
24:57for now.
24:58And for that reason,
25:00unfortunately,
25:01because I'm here
25:01in Manchester,
25:02I'm saying I'm not going
25:03to invest in you today,
25:04so I'm out.
25:06OK, thank you.
25:08Hi, Dina.
25:09Hi, Tukum.
25:10I love your enthusiasm,
25:13your passion.
25:16However,
25:17coming back to what
25:18Gary said,
25:20Deborah,
25:20they've always said
25:21the same thing.
25:22Get what you've got
25:24right.
25:25Yeah.
25:26Fill that
25:264,000 square feet
25:28space,
25:29not only with children,
25:31but with local authorities,
25:33hospitals,
25:35old age pensions,
25:35homes,
25:37disabled people.
25:38Grow what you've got.
25:39Then you decide
25:40what you want.
25:42That's
25:43all I can give you today.
25:45And hopefully,
25:46you can leave the den
25:47and say,
25:48I didn't get an investment,
25:50but I got some good advice.
25:51Yeah.
25:52So for that reason,
25:54you know,
25:54I don't think it,
25:55to me,
25:56it's investable
25:56because I don't think
25:57I can add value to this.
25:59I'm out.
26:02Thanks, Dina.
26:03Thank you, David.
26:03Thanks, guys.
26:06Dina must leave
26:07without a deal.
26:10But despite
26:11a disappointing outcome
26:12in the den,
26:13the fitness entrepreneur
26:14remains upbeat.
26:16I'm wooden up with guys.
26:19Of course,
26:20it wasn't the results
26:21that I wanted,
26:22but I want to make sure
26:23that I do listen
26:24to what they've said
26:24and take everything on board.
26:26And I'm still so proud.
26:44My name's Sarah.
26:45I'm the co-founder
26:46of Kip Hideaways.
26:48Kip is a website
26:49that's filled
26:50with really special stays.
26:51We're really passionate
26:53about finding
26:53these little hidden gems
26:55all around the UK.
26:58Whose bedroom
26:59out of all of us
27:00do you reckon
27:00that looks like?
27:02I'm going to say
27:03Deborah Meaden.
27:04You could not be
27:05further from the truth.
27:09Kip really was
27:10a passion project
27:11and now we feel
27:13ready to have
27:14someone on board
27:15who really understands
27:17business and growth
27:18and can get Kip
27:19to the next level.
27:30Hello, Dragons.
27:31I'm Sarah.
27:32I'm the co-founder
27:33of Kip Hideaways.
27:34I'm here today
27:35asking for £90,000
27:37in exchange
27:38for a 5% stake
27:39in our business.
27:41Planning a UK break
27:42should feel really exciting,
27:44but often you can spend
27:46hours scrolling
27:47through countless listings
27:48and endless reviews
27:50and still end up
27:51somewhere a little
27:52bit disappointing.
27:53So we created Kip.
27:55Kip is a website
27:57that is filled
27:58with only truly
28:00special UK rentals.
28:02These are places
28:03that are handpicked
28:04for their style,
28:05setting,
28:05and incredible quality.
28:07We have created
28:08a high-trust platform
28:09powered by over
28:1190,000 email subscribers
28:12and a further
28:13175,000 followers
28:16on social media.
28:18We started out
28:19as a membership platform
28:20and in April 2024,
28:22we launched bookings
28:23directly through the site.
28:25Since then,
28:26we've seen strong traction
28:27with the predicted turnover
28:29of 700,000 this year
28:30and plans to double that
28:32in 2026.
28:34The UK holiday rental market
28:37is set to hit
28:373.9 billion by 2029
28:40and we feel
28:41that Kip is perfectly
28:42positioned to grow
28:43with it.
28:46A holiday company
28:48showcasing handpicked
28:49boutique UK stays
28:51is the offering
28:52from Sarah De Vere Drummond.
28:55She's asking
28:56for 90,000 pounds
28:58in exchange
28:59for a 5% stake
29:00in her company.
29:02With UK tourism
29:04booming,
29:05will any of the dragons
29:06choose to invest?
29:09Sarah.
29:10Yeah.
29:11I know exactly
29:13where you're coming from
29:14because
29:15especially
29:16over COVID,
29:18everybody wanted to
29:20book
29:20in the UK
29:22and the prices
29:23went crazy.
29:25They did.
29:26Absolutely crazy.
29:27And I think
29:28with more and more
29:30restrictions,
29:32traveling,
29:33you know,
29:34security,
29:34people do want
29:35to go local.
29:37Now,
29:38I know this market
29:39very well.
29:40I've got a couple
29:40of investments.
29:41So,
29:42give us some numbers
29:44for the last few years.
29:45Yep.
29:46So,
29:47in 2023,
29:49we turned
29:50over
29:52325,000.
29:54We had
29:55a net
29:57of 114.
29:58and then
30:00in 2024,
30:01we turned
30:02over
30:03293
30:03with a profit
30:05of
30:06I think
30:07around
30:0793.
30:08Right.
30:09And then
30:11the last year
30:11to date,
30:13we turned
30:14over
30:15349
30:16with
30:18a profit
30:19of
30:27I've
30:27forgotten
30:27the profit.
30:29You're making
30:30a profit?
30:32So,
30:33actually,
30:33the last year
30:34we actually
30:34took a dip
30:35of 65,000.
30:38So,
30:39when you say
30:39turnover,
30:41is that
30:42your commission?
30:43That is our
30:43commission,
30:44So,
30:44therefore,
30:45what commission
30:45do you charge?
30:46So,
30:47we charge
30:48around 20%
30:48commission.
30:49So,
30:50our revenue
30:51is blended
30:51because we are
30:52still a membership
30:53model as well.
30:54So,
30:54we have a kind
30:54of premium
30:55membership
30:55where people
30:56have extra
30:58perks.
30:58We do
31:00exclusive offers
31:01and deals
31:01for them
31:02and then we
31:03charge nominal
31:04listing fees
31:05for each
31:05property as well.
31:06Okay.
31:09So,
31:10you're asking
31:11for 90,000
31:12for 5%.
31:13Yeah.
31:14So,
31:14your valuation
31:15is at 1.8 million?
31:17Yes.
31:18So,
31:18there's somewhere,
31:19I mean,
31:20I don't know,
31:20there's a crystal ball
31:21or somebody's been
31:22advising you
31:23or how did you
31:24get there?
31:24So,
31:25we did that
31:25on 5x
31:27of last year's
31:28turnover.
31:295x on turnover?
31:31Yeah.
31:31If I did that
31:32in all my businesses,
31:32I'd be like,
31:33whoa.
31:36Who do you know?
31:37I think we actually
31:38thought it was
31:39quite conservative
31:40because looking
31:41at the last quarter
31:42in terms of
31:43our run rates
31:44and looking at
31:45sort of 40k
31:46in commission,
31:47sort of 20k
31:48in membership fees
31:50plus the
31:50onboarding fees.
31:51So,
31:52you see,
31:53that's the only
31:53thing that
31:55puts a cloud
31:57in my eyes
31:58even considering
31:59investing
32:00because this is
32:01something I would
32:02invest in.
32:03But the evaluation
32:04is,
32:05you know,
32:06and you're coming
32:07across saying
32:08you think
32:08that's very
32:09conservative.
32:13Sarah,
32:14the properties
32:15look incredible
32:16by the way.
32:17I think I was
32:17a little bit
32:18sort of hypnotised
32:19as it scrolled
32:21through.
32:22When I look
32:23at the growth
32:24profile of the
32:24business over
32:25the three years
32:25that you provided
32:26us,
32:27it hasn't really
32:28taken off.
32:29Yeah.
32:30So,
32:30how does this
32:31get big?
32:33I think up
32:34till now,
32:34we have concentrated
32:35so much in terms
32:37of the brand
32:39and the community
32:40and building
32:40that side of
32:41things up.
32:42And we only
32:43launched the
32:43booking service
32:44in April last
32:45year.
32:45And in the last
32:46sort of three
32:47months,
32:47we've seen
32:48that already
32:49ramping up.
32:50Is there someone
32:51in the market
32:51that you would
32:51compare yourself
32:52to that I can
32:53use as a
32:53framework to
32:55think about
32:55this business?
32:57I mean,
32:57we always say
32:58that we are
32:59a really
32:59curated Airbnb.
33:02What we're
33:03trying to do
33:04is just pick
33:04out the very
33:05best places
33:07so it saves
33:08people that
33:09time of
33:09trawling through
33:10all the
33:11dross.
33:11We have
33:12really personal
33:13connections with
33:14all the owners.
33:15We stringently
33:16vet.
33:17We want to
33:17make sure
33:17that...
33:18So is that
33:19your USP,
33:19being more
33:20secure in your
33:21eyes, offering
33:21more confidence
33:22and assurance?
33:23Definitely,
33:23it's that trust
33:24and that's how
33:24we've built
33:25the community
33:25and the brand
33:26so far.
33:29I know
33:29quite a lot
33:30about this
33:31industry
33:32because I own
33:33a boutique
33:34hotel and
33:37this is a
33:38bloody tough
33:39space to be
33:40in because
33:41you're relying
33:41upon a customer
33:43to book with
33:44you to allow
33:44you to have
33:45your 20%
33:46and you have
33:47to do a deal
33:48with the
33:48property that
33:49is willing to
33:50give you 20%.
33:52Yeah.
33:53And the problem
33:53I think that
33:55you'll be
33:55suffering is
33:57that once the
33:57customer has
33:58gone to the
33:59beautiful properties
34:00that you've got
34:00on show
34:01they will then
34:02be targeted
34:03directly by the
34:04owner or lodge
34:05owner, definitely
34:06doesn't want to
34:07be paying you
34:07that 20%.
34:08Yeah.
34:09So you're getting
34:10killed from both
34:10sides eventually.
34:12Yeah, I think
34:13the thing with
34:13Kip that I think
34:14we've done so
34:15well is first
34:16our relationships
34:17with the owners
34:19so we renew
34:21contracts every
34:22year, we had
34:23over 95% of
34:24them recontract
34:25with us.
34:26I think as well
34:27like what we
34:28found with
34:28especially the
34:29membership model
34:30is that we've
34:31created quite a
34:32loyal community
34:33who want like
34:35when they think
34:36of having a
34:37holiday, they
34:38first think well
34:38I'll go and
34:39look at what's
34:39on Kip.
34:41Yeah, I think
34:42you've built an
34:43incredible membership
34:45actually and I can
34:46see why they
34:46would trust you.
34:47Some of the
34:48pictures that
34:48you've got up
34:49there of the
34:49places that
34:50you've identified
34:51are absolutely
34:52spectacular.
34:55So I'm going
34:56to ask you the
34:56question again on
34:57competition because
34:59you went straight
34:59to the big names
35:00and actually I
35:01don't think I
35:02should competition
35:02at all.
35:03Yeah.
35:04So I'm going to
35:04ask you the
35:05question again.
35:06Okay.
35:06Who are your main
35:07competitors in this
35:09space offering
35:10these high-end
35:11nature-style
35:13accommodations?
35:15So there's one
35:16called Canopy and
35:17Stars who are much
35:18more glampy and
35:20there's one called
35:21Boutique Retreats.
35:22They're usually much
35:23higher price point,
35:26larger properties
35:28than us.
35:29Okay.
35:30And there are more,
35:31aren't there?
35:32Yeah.
35:34There's one called
35:35Cool Stays.
35:36I don't think their
35:37reviews are anywhere
35:38as near as detailed
35:39as us.
35:40Our reviews are like
35:41very editorial.
35:43Sarah, I get that.
35:44By the way, you know,
35:45it looks like that
35:45but I didn't feel like
35:49we were getting a
35:49picture of the
35:50landscape.
35:51You know, I spent my
35:52life in this industry
35:53and I know the
35:54landscape and there
35:55are a lot of these,
35:57a lot.
35:57Now, that's not
35:58saying there's clearly
35:59a lot because there's
35:59a lot of room for
36:00them.
36:01Yeah.
36:01But you need to have
36:03an ability to express
36:04why you.
36:05And I'm actually
36:05pretty impressed with
36:07your turnover so
36:09quickly.
36:10So you obviously are
36:11hitting the spot but
36:13there's no, you
36:14haven't offered a
36:16compelling reason why
36:17you, why, why
36:18this.
36:19You know, when there
36:20are so many other
36:22booking sites and I
36:24think, you know,
36:25you've got a really
36:25nice business there
36:26but I don't think it's
36:28going to grow big
36:28enough for me in terms
36:29of an investment.
36:31So I won't be
36:32investing.
36:32I'm out.
36:37So when I look at a
36:38business like this and
36:39I see that the numbers
36:40are quite flat, that
36:41means you probably
36:42don't have a strong
36:43enough USP, unique
36:44selling point in your
36:45business.
36:46And I think that's
36:47really the crux of the
36:47growth problem here.
36:49So I'm going to say
36:50that I'm out but I
36:50wish you the very
36:51best.
36:56Sarah.
36:57Hello.
36:58Hi.
37:00What's the best thing
37:02that's ever happened
37:02to you in your life?
37:06I mean it sounds
37:07cheesy but Kip has
37:08been amazing for me.
37:09I do live and breathe
37:11it.
37:12My life and Kip
37:14are sort of very
37:16meshed together.
37:17And what's the worst
37:18thing that's ever
37:19happened to you?
37:21The worst thing that's
37:22ever happened to me?
37:25I suppose, I don't
37:27know.
37:28You're going to have to
37:28answer it.
37:29It could be personal.
37:31Yeah.
37:32I'm quite an optimistic
37:34roll with it kind of
37:35person.
37:35I always feel like a lot
37:37of the things that you
37:38might think are quite
37:40tough things in life are
37:41actually the ones that
37:42have taught me a lot and
37:43made me who I am.
37:44So give me, I'd like an
37:46example of that.
37:46You can see where I'm
37:47going here.
37:48I hope you can.
37:49I don't know whether
37:49you can.
37:50No.
37:50No?
37:51Maybe it's just me.
37:53But I'm trying to
37:54understand.
37:54I can see you've got a
37:55really great business.
37:56You've built that really
37:56quickly.
37:59You're, I'm definitely
38:00getting from you the
38:01positive vibe.
38:02However, I also live in a
38:04real, real world of
38:05business which is brutal
38:06and tough.
38:07I see what you mean.
38:08So I'm trying to get to
38:10really quickly establish
38:11how tough are you as an
38:13entrepreneur to go through
38:14the rigour of perhaps
38:15building this to a really
38:17great business.
38:18Yeah.
38:19Okay.
38:21I mean, I'm a single
38:22parent.
38:22I've got twin girls who are
38:24eight and they obviously
38:25are the real best thing in
38:26my life.
38:27And I, I'm always on the
38:30cusp in terms of financials.
38:32If, if Kip doesn't make
38:33it, that means, you know,
38:35my children and I are not
38:37going to have the life that
38:38I want them to have.
38:40Sarah, this is what I want.
38:41I want to hear the grit and
38:43the, and that, and the
38:44reality and the real Sarah.
38:47Okay.
38:49I think the difficulty is the
38:52way you're valuing this,
38:54unfortunately.
38:55You know, there's no way
38:57you're going to get to 1.8.
38:58You'd be lucky to get six,
39:00700 grand valuation for
39:01this.
39:02And, um, unless you're
39:05realistic in your valuation,
39:07I mean by a lot.
39:09Why don't you change it?
39:10Make an offer.
39:11Change the valuation.
39:13You know, for me, if I had
39:14to be honest with you, the
39:16money you're asking, you'd
39:17have to give away 30%.
39:19Is that an offer?
39:20Is that an offer?
39:20Well, I'll tell you what I
39:22would do.
39:23You've come in the den asking
39:25for 90,000 pounds for 5%.
39:29I'm going to offer you half
39:31the money.
39:32That's 45,000 pounds and I
39:35want 15%.
39:42I should be less emotional
39:44and just be a customer of
39:46yours because your properties
39:47are incredible.
39:50but I like it.
39:53I mean, I love those types of
39:55properties.
39:58I have got my reservations with
40:00this one, but I will do it with
40:01Tuka.
40:02I will offer half of the money
40:04for 15% and match Tuka's
40:07offer.
40:08Okay.
40:14So, this is a brutally
40:17tough business.
40:20And I wanted to see how deep
40:21rooted is the entrepreneur
40:22standing in front of me and how
40:24resilient are you going to be?
40:28You're going to do this for
40:29yourself, obviously, but you're
40:31doing this for your kids, your
40:33twins.
40:34Yeah.
40:35What that tells me then is that
40:37you're going to be deep rooted
40:38and do everything that is
40:39possible to make this business
40:41a success, which means you're
40:42going to go further than most
40:44will.
40:45And I really like that and
40:47respect that.
40:48So, I would be willing to split
40:50it with the guys at 10%.
40:53So, you get three dragons for
40:5530% if Gary and Tuka would be
40:58interested.
41:00I would be willing to go along
41:02with Peter's suggestion.
41:08Okay, I'd love to accept that
41:10offer.
41:10Great.
41:11Yeah.
41:11Thank you so much.
41:13Brilliant.
41:14It's a dream ticket for Sarah.
41:17Congratulations.
41:17Thank you so much.
41:20Well done.
41:21Well done.
41:22Congrats.
41:23Thank you so much.
41:34I can't believe that I've just
41:36invested 30,000.
41:38Just because I kept looking at a
41:40shed overlooking a lake.
41:41Oh no, it's a lovely shed though.
41:46Really happy that I got three of the
41:48dragons to invest.
41:50They really hardballed me on the
41:52figures, but I'm just really,
41:54really excited to get to work with
42:08them.
42:09Here we are.
42:13Yes I do.
42:14Oh wow.
42:16My name is Craig Nielsen.
42:17And I'm Kasia.
42:19Kasia's my wife.
42:20We met 10 years ago in London and couldn't get enough of each other so we decided to spend
42:25even more time together by starting a business.
42:29Oh, we're going to have to play.
42:31Gary, what are you like at losing?
42:37People maybe couldn't work with their wife or husband, but for us it really works.
42:41We really complement each other.
42:42Where I fall short, Kasia absolutely takes over.
42:46And vice versa.
42:49Showtime.
42:50One more door.
43:01Hi dragons.
43:02My name is Kasia Nielsen and together with my husband Craig, we are the owners of Fairplay.
43:08We are here today to ask you for £200,000 investment in return for 10% of our business.
43:15Remember the excitement of the fairground.
43:19Knocking down those cans, hooking the duck, the joy of the winning prizes.
43:24Well we bottled that magic, added delicious cocktails, fantastic food and created a unique experience that's taking Scotland by storm.
43:33Right now, the competitive socialising market is dominated by activities such as darts, bowling and mini golf.
43:42While fun, these can feel a little predictable.
43:45People are looking for something different, something nostalgic.
43:49So Fairplay is the answer.
43:52We've reimagined the classic fairground games with a little modern twist for us.
43:58So imagine the bustle of the fairground, but indoors.
44:04It's high energy, it's interactive and it's undeniably fun.
44:08Our venues in Edinburgh and Glasgow have been operating successfully since opening two years ago.
44:17We have taken £4 million in revenue and over £400,000 in net profit.
44:25Your investment will allow us to secure prime locations in top UK cities to allow us to replicate the success
44:34we have achieved so far.
44:36So, shall we invite two dragons up to go head-to-head for a chance to win one of our
44:42iconic big yellow ducks?
44:44I'll come.
44:45Look at that, it's straight, eh?
44:46Yeah, there we go.
44:47Right.
44:47I'll take Tuka on then.
44:49Right.
44:49Fantastic.
45:19Let's do this.
45:19OK.
45:21Some people make it look easy, some not so much.
45:25I haven't got a single ball in.
45:27Tuka, you are useless.
45:28Yeah.
45:29I think we might have a clear winner here.
45:31Peter Jones has already bagged a prize.
45:33Peter?
45:34Peter.
45:34Congratulations.
45:35Oh, look at that.
45:36Oh, have I got a small one?
45:38Yeah.
45:39But can Craig and Kasia also win big in the den?
45:46I'm just going to put him to the side of me, if that's all right.
45:48Yeah.
45:48OK.
45:49Four million.
45:50Can I just get that right?
45:51So, you've turned over four million in two years.
45:53Yes.
45:54So, is it two million each year, approximately?
45:56Just 1.875 in year one and 2.1.
46:002.1.
46:00And then how much profit in this last year?
46:03So, the last year was 193,000.
46:06So, you've clearly got something.
46:09People love it.
46:09So, I'm just going to say open it.
46:10Yeah, yeah, very exciting.
46:12You take a version of this and you travel,
46:16or do you have this fixed in the locations
46:18and you're going to go and open up another location with my money?
46:21Is that the idea?
46:22So, we typically don't travel with those games.
46:26We have a venue in Edinburgh and in Glasgow.
46:29Each has nine games that they stay in the venue.
46:32OK.
46:32And we're opening a third location this summer in Newcastle.
46:36OK.
46:37So, approximately, you've got each venue is doing about a million?
46:40Yes.
46:41Correct.
46:42And out of that million, you're doing about 100,000 net profit?
46:45Yes, correct.
46:47I'm very, very impressed with it.
46:50Craig.
46:51Yes.
46:52I am a big fan of these types of experiences.
46:55So much so that I've visited quite a few of them.
46:57Yes.
46:57And when I saw this, for a second, I actually thought it was another one that I've been to in
47:03London.
47:04Yes.
47:04The only difference is the one I've been to in London is much more interactive.
47:09When I took my partner and her family, we had these little digital cards.
47:14Every game we played, it tallied them up.
47:16And at the end, we scanned it and it showed us on this huge interactive board with flashing lights that
47:20I was beating my girlfriend's dad.
47:51Had to get that in there, right?
47:52Olin, well, how much are you charging for one ticket to the venue?
47:56$14.95.
47:57$14.95, okay.
47:59So, they do charge more?
48:00Yes.
48:01Obviously, they're in a more, um, they're in London.
48:03And they're opening more locations now.
48:07I mean, can I just say, I think I would be your perfect customer because I've been going to Blackpool
48:12since I was five.
48:15And I believe it or not, I'm obsessed with these things from my childhood and the style of element of
48:21it.
48:22How much do you pay in rent per year and what type of sort of lease terms do you have
48:25on your property?
48:27So, with, uh, Glasgow there, uh, it's £36,000 a year.
48:34A year?
48:35A year.
48:36How big is that space?
48:37Uh, 7,500, uh, square feet.
48:40That's why they're not in London.
48:42Yeah.
48:42Your posh do.
48:44And that's what you're doing in London.
48:45Part of it.
48:46Yeah.
48:46And Edinburgh is, uh, £50,000 a year for the rent.
48:51Can I just say something?
48:53Look, I know a lot about real estate.
48:55Yes.
48:55Rents.
48:56And £36,000 and £50,000 is cheap.
49:00Yes.
49:00Incredibly cheap.
49:02So, and you're talking about rolling this out across the country.
49:05Newcastle is not that.
49:07Newcastle's more like what you'd expect.
49:09It's £180,000.
49:10So you're, so you're going from £50,000 to £180,000 rent.
49:16Yes.
49:16Yes, correct.
49:17And we're not, we're not even down in Manchester yet.
49:19We will be though.
49:20No, but I want rent.
49:21The further south you go, the higher the rent.
49:25Yes.
49:27I'm going to tell you where I'm at, which is that you're making sort of like £100,000 per venue.
49:33Your Glasgow rent is £36,000.
49:36Mm-hm.
49:36Your Newcastle rent is £180,000.
49:39Yes.
49:40So you've wiped out all your profit in Newcastle straight away.
49:45So I would suggest if I was you, that you really do concentrate on those £36,000 to £50,000
49:52rents in Scotland,
49:53where you don't have to obviously expand at the levels that you're going to down further into England.
49:59If you hadn't have told me that your rent in Newcastle was £180,000, I may have looked at actually
50:04something up in Scotland with you because I actually love this concept.
50:07But for that reason, I'm out.
50:11Okay.
50:13I'm going to tell you where I am, Catherine Craig.
50:53I'm going to tell you where I am.
51:06I'm going to tell you where I am.
51:16Guys, this might surprise you.
51:18I was born into a travelling fairground family.
51:21Yes, you were.
51:21Did you know that?
51:21Yes, I did.
51:22I was excited to hear about it.
51:25And what a fantastic life it is.
51:27So I completely, you know, it's just a wonderful thing to be part of watching people having fun and actually
51:33being able to make good money out of it.
51:35So that's fantastic.
51:37Can you feel a butt?
51:40Here's my worry for you.
51:42And I'm not worried for you.
51:43I would be worried for me as an investor because, honestly, I could do this tomorrow.
51:50I promise you, I won't.
51:53But I could.
51:55And there's my big risk.
51:57So I won't be investing.
51:59But best of luck and I'm out.
52:02Craig and Kasia, I think you've done very, very well.
52:08But I couldn't agree more with my fellow dragons,
52:10is that I think that this is a great business for you, but it's not an investment for me.
52:17I'm going to say that I'm out.
52:19But congratulations on building a business.
52:23Craig and Kasia.
52:24Yes.
52:25It's very apparent that, you know, as I said earlier on, it's all to do with venues and rents.
52:31Yeah.
52:31You know, I do it all day long, every day, with my three or four retail businesses that I've got.
52:40And that's what first of all came into my mind, that I have a venue that's 5,000 square feet
52:48in the heart of London.
52:51That's not doing well.
52:53And I'm thinking of, how do I bring you to London at the right price?
52:58So that's point one.
53:00Point two, how do I get out?
53:04How do I get my money back?
53:06Because I've got too many, I've got 36 businesses.
53:08And I'm always saying, when do I get out of this?
53:11It's a good question.
53:12So what we are aiming for is that we'll start paying dividends out to be paid back within the three
53:22and a half years,
53:23to have that initial amount paid back.
53:25But you're also then looking for a potential sale onwards to get you your multiples.
53:30Right.
53:31OK.
53:32Well, look, I'm going to make you an offer.
53:35Because I can see where this can go.
53:38So you've asked for 200,000 for 10%.
53:42I'm going to offer you all of the money, but I want 30%.
53:55We appreciate the offer.
53:59We could take 30% if we find a way where we can buy back at some point if we
54:07meet specific targets.
54:11We have to put a time limit on it.
54:13Yes.
54:13So if we say 18 months, and we are not reaching revenue of £4 million, then it stays at 30.
54:22And if it does, we can buy back down to 20.
54:28Then you've got a deal.
54:32Thank you very much.
54:34It's all the fun of the fair for Craig and Kashia.
54:38Let's see if it makes work.
54:39Yes.
54:40The couple may not be walking away with a giant duck, but they have caught the eye of a larger
54:47-than-life dragon
54:48and secured a promise of £200,000.
54:52I'm so excited.
54:53I'm excited by that.
54:55Wow.
54:56That was, uh...
54:57A bit intense.
54:58Fun.
54:59I think we can grow really quickly now, and we've got the experience there of someone
55:03who just knows what they're doing.
55:04We just can't wait to get started with Tuka.
55:08I think it's going to be a great, great experience.
55:11And that brings us to the end of this current series of Dragon's Den.
55:15Well done, Tuka.
55:16It was a good deal.
55:17Perfect match.
55:18Well done, Tuka.
55:19I can see you making money out of that.
55:21Definitely.
55:22It's been a year of welcoming new faces.
55:27But now the moment has come to say goodbye to one of our most loved,
55:33as Tuka Suleiman's time as a dragon has come to an end.
55:38After 11 years in the line-up, he's been compassionate.
55:42You've put up £470,000 of your own money, and I respect you for that.
55:48Surprising.
55:48I have to say, I didn't expect Tuka to be the one to put them on.
55:52Can we get some groovy music on, please?
55:54And shrewd.
55:55Which makes you want a Mini or a Ferrari?
55:58Ooh.
56:00Good job I like you.
56:01So as he puts down his notebook one last time,
56:05let's take a warm, joyful look back at some of his best bits.
56:10Take a time.
56:12Take a time.
56:13Take a time.
56:15There we go.
56:17One of the unique selling points is that...
56:21Oh, he's going to break it.
56:23Don't help him out.
56:24Don't help him out.
56:25This is...
56:28You've come in here wanting £100,000 for 1%.
56:33Yes.
56:34I don't get out of bed for 1%.
56:37We're not using a revenue multiple to get the valuation.
56:39No, you're using a crystal ball.
56:41A few of these exercises.
56:43Whoa!
56:46I've got 50 years' experience.
56:47You've got five years.
56:4850 years.
56:4950 years.
56:49If you're talking to Tej, you might work fine, but I'll just say I'm out.
56:52I'm the elder statesman here.
56:53Need some respect.
56:54We've never seen you work so hard for a deal, Tuka.
56:57Well done.
56:57What's that sell for?
56:58Tuka.
56:58Tuka.
56:59I'm having a conversation.
57:01Whoa.
57:02I'm quite big in the baby business.
57:05Have you sold any of the babies?
57:07Not to babies, but to their parents.
57:10Let's go to bed.
57:11Whoa!
57:12What happened there?
57:14You broke the bed.
57:16Oh, sorry.
57:19I'm going to make you an offer because Tuka is still in.
57:23Mr. Jones has just put a lot of pressure on me.
57:25If it's just offers you want, then you've got them.
57:28But I bet you come for me.
57:30I'm going to give you a lifeline.
57:32Bless your heart, Tuka.
57:34Oh, Tuka!
57:36I'll give you all the money, but I want 40% of the business.
57:39Oh, what?
57:40Well, you guys didn't offer.
57:41Oh.
57:41If you were so brave, what did you offer?
57:43I would be up for a three-way split.
57:45I think that's reasonable, and it could be quite a formidable team for you.
57:48One part of me doesn't want to give it away.
57:50Come on, Uncle T.
57:51You know we're good.
57:52Of course.
57:52I'd really like to accept both offers if you would consider taking 1% each.
57:58Absolutely.
57:59If Tuka would consider doing the same.
58:06Why not?
58:06God, that's amazing.
58:08Thank you so much.
58:11Right.
58:11Okay.
58:13No doubt.
58:13But I think you guys will be in touch.
58:15See you, Tukes.
58:16See you, Tukes.
58:24Are you looking for investment for your business?
58:28Whether it's a start-up or a going concern,
58:30if you think you've got the smarts, ideas and acumen
58:33to strike a deal with the Dragons,
58:36then head to bbc.co.uk slash Dragons Den and apply.
58:41Bye-bye.
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