Whenever you pitch for investment, it’s essential you get the basics right and are prepared for any questions that are fired in your direction. Tej Randeva, CEO of Indian takeaway brand Spice 2 Go was after £75,000 investment in return for 10% so he could open up a franchise of restaurants within the UK.
But his lack of preparation, coupled with his admittance that the brand wasn’t making any money, meant he left the den the same way he entered - without any investment!
When Pure Pet Food co-founders Daniel Eha and Mat Cockroft closed their pitch with a light-hearted comment to the Dragons’, they would’ve probably hoped the investors would’ve let it go. But when Dragon Peter Jones quizzed the duo to try their own products, they were left in a tricky situation.
So Daniel took a couple of spoonfuls of the pet food in front of the five Dragons’. But the move was applauded by Peter Jones and co, who praised their commitment and dedication to the brand. But they still turned down Deborah Meaden’s offer of £40,000 for 30% in their business after deciding it was too much of a risk.
When Spoon Cereals duo Annie Morris and Jonny Shimmin begun their Dragons’ Den experience, it didn’t get off to the best of starts when Duncan Bannatyne reminded them of the competition they were up against in a crowded market. But all five Dragons’ were complimentary about their simple product and brand, highlighting the importance of perfecting your brand image and packaging.
Deborah Meaden, in particular, praised the simplicity of the product and showed her faith by partnering up with Peter Jones to invest a combined £50,000 for a 15% stake - an offer that was grabbed with both hands by the entrepreneurial duo.
Innovative publishers Lost My Name have created a buzz in the market with their children's books. Two of the co-founders David Cadji-Newby and Asi Sharabi, pitched their products to the five Dragons’ but it wasn’t until they showed the investors their books that the potential was realised.
Despite having a venture capitalist on their advisory board already, Lost My Name were able to secure Piers Linney’s £100,000 investment in return for 4% equity - a record amount of money in the shows history.