First to arrive was a very enthusiastic young man called Charlie, presenting his business ‘Charlie’s Cartoons’. Based around the concept of creating hand-painted and personalised caricatures, Charlie expected this product to be mostly bought as a quirky gift. He also stated that using a standardised style meant that he could grow his workforce, which would definitely be needed considering each painting takes between three and five hours to create. So far this sounds like a lovely idea, although immediately it is obvious that this is a niche product for people who really do like caricatures, and this becomes more apparent when told the selling price: £140. For a quirky little gift, this is very expensive. The consensus in the Den was that Charlie is a very overenthusiastic guy, who talks way too much, and ultimately no offers were made.
Next into the Den with a concept most people are familiar with came Raj, and his company ‘iGlove’. Using a very small amount of silver in the tips of the glove, allowing for heat transfer but not affecting colour too much, iGlove has a registered trademark and patent pending. However this was nowhere near enough for Peter Jones, who was adamant that eventually Apple will want to steal this product and any profits away from Raj. All Dragon’s echoed this and retreated from making an offer, until only Duncan was left. Maybe it was the possibility of making a phone call by speaking into a glove that attracted Duncan, or maybe he felt just stubborn enough to want to prove Peter wrong, but Duncan took to the product, offering Raj the full £75,000 for 40 per cent equity, agreeing to reduce this to 30 per cent upon making a return. This warranted many “are you crazy?” looks from the other Dragons’, but Duncan obviously felt that this was a risk worth taking. Hopefully in the future we will see who made the right call.
Suddenly the Den is run amok with Princesses, who look an awful lot like Disney characters despite being completely unrelated. My Little Princess Party are a company providing children with the party they’ve dreamed of. The Dragons are wary of the very small profit margins and how unsuccessful this particular market can be. No offers are made, and the beautifully made up ladies leave the Den.
Next up, the firm favourite intro of dancing! Demonstrating earphones that stayed in the ears whilst head spinning and so on, Ear Candi was brought to us by two laid-back yet clued up guys providing a small mould that fits around an earphone, moulds and sets to the shape of your ear. Backed by Judge Jules and a Formula 3 racing driver, proving the range of uses for the product, Ear Candi also boasts offers from two outside investors. The Dragons all find reasons to hang on to their money, such as Peter’s expertise on in-ear technology, and Kelly’s issue with the £14.99 RRP, and no offers are made despite a good pitch.
And from the plausible to the frankly insane, a lovely man named John wheeled in on his scooter/bike contraption that he designed himself. With a few odd, wheeled inventions, and quick wit, John amused the Dragons’, but the safety and practicality of his ideas was way too out there and all withdrew.
Lastly in this week’s instalment, in attempt to avenge an old business that died an explosive death, we were introduced to Baggers Original. The company, created by Angela 23 years ago, is based around childrenswear for wet weather that folds into a small bag. Angela had this idea whilst raising 5 year old Jessica, and now 23 years later the mother and daughter duo have decided to resurrect the business that grew far too rapidly for Angela to keep under control. Boasting a trademark, a deal with Monsoon, and impressive statistics, the Dragons’ all seemed impressed, and eventually Deborah offered half of the requested funds, for 15 per cent of the business. Peter then let slip that he wanted 20 per cent, but was willing to match Deborah. Both already are in business together in a similar area, and this team made an awful lot of sense – something that Angela and Jessica had already researched – and they went ahead with accepting the investments from both Dragons.
Plenty of variety this week on Dragons’ Den, and one stand out product that has the potential to be a huge success with the help of Deborah Meaden and Peter Jones.
