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While the millionaires from BBC‘s hit Dragons Den have enjoyed plenty of success from investing in products discovered on the show, there are also many missed opportunities.
Sometimes, they laugh hopefuls right out of the door who go on to find huge global success with their ideas.
BrewDog founder James Watt has great relationships with several of the show’s millionaire investors, but said the programme as a whole has a ‘barely disguised distaste for entrepreneurs’ and has made a business of making hopefuls appear as ‘deluded fantasists’ in the public eye.
Here, MailOnline looks at some of the biggest success stories the Dragons have rejected over the years.
While the millionaires from BBC’s hit Dragons Den have enjoyed plenty of success from investing in products discovered on the show, there are also many missed opportunities
Trunki – children’s suitcase boss made £7M fortune
Amid news the founder of ride-on children’s suitcase brand Trunki is set to pocket £7million in personal profit, after selling his business for a cool £12million, he told MailOnline: ‘I wasn’t sure I’d sell very many after the episode came out.’
Rob Law, 45, from Bath, was told his idea for Trunki – ride-on suitcases for children – was ‘worthless’ by entrepreneur Peter Jones when he appeared on the BBC programme in 2006.
His product was advertised in promotional content for the show as ‘wheelie rubbish’, and yet within hours of broadcast, he’d sold out online.
Mr Law went on to secure £200,000 of funding for a 10 per cent stake within two years of appearing on the show.
Rob Law, 45, from Bath, was told his idea for Trunki – ride-on suitcases for children – was ‘worthless’ by entrepreneur Peter Jones when he appeared on the BBC programme in 2006
Now, more than a decade on, he’s now sold the brand’s holding company, Magmatic, to e-commerce company Heroes, for an estimated £12m, and is expected to get £7million from the sale, having retained 60 per cent of the ownership of the business.
He said: ‘If you’re going on a show you’ve got to go in with your eyes wide open, they want to make theatrical television.
‘You run a risk of things going pear shaped but any publicity is good publicity.’
While he’s sold his stake, Mr Law and the majority of his team will stay on under new management.
‘It’s about the journey, not the destination. And we’re still on this journey.’
His product was advertised in promotional content for the show as ‘wheelie rubbish’, and yet within hours of broadcast, he’d sold out online
BrewDog – brewery business is now worth £1.8BN
When the boys behind BrewDog, James Watt and Martin Dickie, applied for the show in 2009, they were seeking a £100,000 investment for 20 per cent of their business.
They were turned down, but went on to find enormous success anyway, and the business is now worth upwards of £1.8billion. If one of the Dragons had invested the asking amount, they would have seen returns in the ballpark of about £360 million.
They’ve since gone on to build strong relationships with some of the Dragons, who were each disappointed in the missed opportunity to work together.
‘Overall, they make some good decisions and some questionable ones,’ Mr Watt told MailOnline. ‘It’s very hard to judge a business in five minutes, which is what you get to pitch.’
When the boys behind BrewDog, James Watt and Martin Dickie, applied for the show in 2009, they were seeking a £100,000 investment for 20 per cent of their business
Mr Watt described it as a ‘stroke of luck’ that they didn’t sell 20 per cent of their business at the time, and had in the past expressed disappointment in the entire process of seeking investors.
He said: ‘In the US, people who take risks and create jobs are celebrated; in the UK the best they can expect is to be tolerated. We are far from alone in this regard.
‘The BBC in particular has a barely disguised distaste for entrepreneurs (the whole purpose of Dragons Den, for example, is to present entrepreneurs as deluded fantasists. The same is true of The Apprentice).’
If one of the Dragons had invested the asking amount, they would have seen returns in the ballpark of about £360 million
Oppo ice cream – ‘guilt free’ treat sells out on Ocado
Brothers Harry and Charlie Thuillier pitched their low-calorie, ‘guilt free’ ice cream range to the Dragons in 2016, hoping to secure £60,000 in exchange for seven per cent of their business.
They left empty handed, with the experts stating the reward simply wouldn’t justify the risk.
Now, Richard Branson and Andy Murray are among their investors and the brand is worth an estimated £85.7 million.
Speaking to MailOnline, the duo said their time on the show effectively served as a 10 minute advertisement for the brand, even though they ultimately walked away empty-handed.
‘We were trending as the sixteenth most searched term on Google UK for the whole weekend after the episode aired,’ Harry said.
‘We sold out in Waitrose, on Ocado – the only two places we were stocked at that time, and it gave us a great bump in sales and awareness.’
Harry and Charlie Thuillier’s brand is worth an estimated £85.7 million
They stock an array of flavours – including double salted caramel, double chocolate brownie, chocolate chip cookie dough and strawberry cheesecake – and are available in 13 countries
They now stock an array of flavours – including double salted caramel, double chocolate brownie, chocolate chip cookie dough and strawberry cheesecake – and are available in 13 countries.
In total, it took more than 1,000 attempts to get the flavour and consistency just right before they ventured into the Den.
By that point, they’d already secured a good amount of investment, and only went on the programme at the behest of the BBC, who they had reportedly already turned down three times to appear.
Offering a word of warning to any future hopefuls, Harry said: ‘Dragon’s Den is more combative than your typical investment conversation. It’s also first and foremost about entertainment.
‘So while it’s not anything like a normal investment conversation our advice to entrepreneurs considering going on is the same as any investor you want to approach. Make sure you know who you’re speaking to, be very realistic with any numbers you share and have the evidence to back them up, show your passion and your knowledge of the market and your product.’
Brothers Harry and Charlie Thuillier pitched their low-calorie, ‘guilt free’ ice cream range to the Dragons in 2016, hoping to secure £60,000 in exchange for seven per cent of their business
Approved Food – described as ‘the ones that got away’
When Andy Needham and Dan Cluderay appeared in the Den in 2015, they knew they had a winning idea. They were searching for £150,000 for 10 per cent equity in their business selling out-of-date food for ridiculously cheap prices.
They would purchase stock wholesale and sell it for up to 70 per cent cheaper than major supermarkets, but it wasn’t enough to lure in any of the Dragons.
Now, they’ve got an annual turnover of £22.5 million and are frequently described as the ‘ones that got away’.
And with the current cost of living crisis in the UK, their idea is undoubtedly going to continue bouncing from strength to strength.
They’ve got an annual turnover of £22.5 million and are frequently described as the ‘ones that got away’
When Andy Needham and Dan Cluderay appeared in the Den in 2015, they knew they had a winning idea. They were searching for £150,000 for 10 per cent equity in their business selling out-of-date food for ridiculously cheap prices
Hungry House – food delivery firm worth up to £1.1BN
Co-founders Shane Lake and Tony Charles entered the Den in 2007 – a year after founding the food delivery service. They were hoping to take home £100,000 in exchange for 11 per cent equity.
Peter Jones, who is worth an estimated £1.1billion, told the duo there was ‘no value’ in the idea.
While Duncan Bannatyne and James Caan offered the £100,000, the deal later collapsed when Mr Lake and Mr Charles secured a higher investment from elsewhere.
Over the span of the next decade, the brand became a household name in the UK, and in 2018 merged with competitor JustEat. The business was acquired for £200million.
Co-founders Shane Lake and Tony Charles entered the Den in 2007 – a year after founding the food delivery service. They were hoping to take home £100,000 in exchange for 11 per cent equity
Over the span of the next decade, the brand became a household name in the UK, and in 2018 merged with competitor JustEat. The business was acquired for £200million
Grillstream – now one of UK’s biggest BBQ brands
Engineers Ian Worton and Peter Neath arrived in the Den in 2009 with their barbecue tray, which was designed to prevent oil and fat spillage.
The duo came close to striking a deal but didn’t quite get it over the line. The show ultimately proved to still help them, receiving an influx of offers after it aired.
Grillstream is one of the largest BBQ brands to come out of the UK and is stocked in most major retailers, garden centres and dedicated stockists across the nation.
The duo previously told Metro: ‘They’re smart geezers that made their money. They know what they can’t invest in everything, every time.
‘The fact that we almost got a deal but didn’t, that gave us the opportunity with LeisureGrow and the drive to move forward. That’s helped us big time.’
Engineers Ian Worton and Peter Neath arrived in the Den in 2009 with their barbecue tray, which was designed to prevent oil and fat spillage
Grillstream is one of the largest BBQ brands to come out of the UK and is stocked in most major retailers, garden centres and dedicated stockists across the nation
Cup-a-Wine – popular picnic drink on sale in M&S
James Nash appeared on the program in 2009 seeking £250,000 in exchange for a 25 per cent stake in his business.
The idea was a single-serve plastic glass of wine with a tear-off lid.
Duncan Bannatyne was particularly dismissive, saying: ‘You didn’t invent the plastic glass. And you didn’t make the wine. So what have you got?’
‘People don’t want to buy wine in plastic glasses like that with a seal on top. For that reason, I’m out.’
But M&S were a fan of the concept and adopted it as part of its Food on the Move section. It has proved hugely popular with commuters and picnicers.
The idea was a single-serve plastic glass of wine with a tear-off lid
James Nash appeared on the program in 2009 seeking £250,000 in exchange for a 25 per cent stake in his business
Tangle Teezer – brush brand boss nets £70M from sale
When entrepreneur and former hairdresser Shaun Pulfrey entered the Den in 2007, he was seeking £80,000 in exchange for 15 per cent of his business.
The idea was simple: a quick and easy way of detangling hair without pulling and damaging, which could even be used on wet hair.
Not a single Dragon was interested. One called the scheme ‘hair-brained’, while another said it was a ‘waste of time’ and a third likened the product to a ‘horse brush’.
Unfazed, Mr Pulfrey went on to launch the product and, in the process, found a host of celebrity fans.
In 2021, he sold a majority stake in the brand for £70million – making him even richer than at least one of the Dragon’s, Deborah Meaden, who rejected him.
The idea was simple: a quick and easy way of detangling hair without pulling and damaging, which could even be used on wet hair
When entrepreneur and former hairdresser Shaun Pulfrey entered the Den in 2007, he was seeking £80,000 in exchange for 15 per cent of his business
Destination London – travel firm boss now worth £96M
When Rachel Lowe entered the Den in 2004, she was asking for £75,000 for a 30 per cent stake in her business.
The Dragons laughed her out of the room, citing her inexperience and pointing out that she was trying to enter an extremely competitive market.
As a taxi driver, she thought up her board game business, Destination London.
While she left the program empty handed, the board game was hugely successful and she now has over 30 varieties of her games – as well as earning herself an MBE for her services to business.
Ms Lowe’s net worth is estimated to be £96 million now.
When Rachel Lowe entered the Den in 2004, she was asking for £75,000 for a 30 per cent stake in her business
Ms Lowe’s net worth is estimated to be £96 million now
Aquatina – collapsable water bottle firm worth £5M
When Guy Jeremiah finished his pitch to the Dragons in 2010, he was feeling pretty good about the idea. He was seeking £100,000 in return for 10 per cent equity in his collapsible and reusable water bottle design.
Theo Paphitis told him he’d rather stick pins in his eyes than back his idea, and all the Dragons ended up following his lead in backing out.
Duncan Bannatyne was enraged by the idea, tossing the water bottle across the room, labelling it a ‘waste of time’ and saying: ‘It’s a terrible invention, I’m sorry, that’s really made me angry.’
Within two years, the design was available in 16 countries and had signed a distribution deal with Marks & Spencer.
The company is now worth an estimated £5million.
Theo Paphitis told him he’d rather stick pins in his eyes than back his idea, and all the Dragons ended up following his lead in backing out
The company is now worth an estimated £5million
When Guy Jeremiah finished his pitch to the Dragons in 2010, he was feeling pretty good about the idea. He was seeking £100,000 in return for 10 per cent equity in his collapsible and reusable water bottle design
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