(Cross posted at Kempton with possible additional readers’ comments)
The following are my brief reviews and comments on the Dragons’ Den Season 3 episode 1 pitches/ideas. The lead-in description sentences are from CBC.
The Dragons’ dynamics between Arlene, Brett, Jim, Kevin, and Robert works out nicely.
Fit 2 Touch – by Peter Pereira and Edna Melculj from Mississauga, ON
They are personal trainers who were making a workout DVD designed for couples when they ended up falling in love.
– Asking $100,000 for 50% of business. $24.99 per DVD. Sold 300 so far.
The couple are cute to look at but cute couple doesn’t mean there is a viable business.
KickSpike – by Darrel & Colleen Bachman from Penticton, BC
They have invented a golf shoe which solves the problem of ruined greens due to spikes.
– $1 million for 10% of business.
– Entrepreneurs claim to have obtain a solid worldwide patent.
* Final deal is five dragons split $1 million for 30% of company ** contingent ** on the entrepreneurs getting a licensing deal.
* I want to make a special comment on Brett making an initial deal of 25% and the discussions that came after. Ultimately, Brett asked the entrepreneurs if they would let him off that deal and have a new deal with all five dragons for 30% of the company, a potentially better deal with more expertise. It is important for Brett and I think it is the right thing to do in asking for the entrepreneurs’ release.
* Now, this deal is “contingent” on getting a licensing deal first. To me, it is very close to a risk-less “investment”. There is no investment, no money down, when there is no licensing deal.
I won’t mind investing $1 million for 30% of someone’s lottery tickets ** contingent ** on one of the ticket is a winning $30 million ticket. :)
Kuli Kuli – by Pedro Baquero from Toronto, ON
Pedro invented this booty-shaking game after watching videos on MTV.
Big smile but not a business at all.
Bee Gone – by Tom Filler from Kitchener, ON
Tom has come up with a unique approach to getting rid of bees.
Asking for $50,000. No go at all.
Pizza Pak – by Ron Fisher from Toronto, ON
Ron has designed a plastic pizza case that would replace cardboard boxes and help reduce waste.
Asking for $500,000 for 50%
Unworkable idea. Not worth my time to review and critique it. Jim said it all, returnable pizza box is a no go.
Very sad that Ron just doesn’t get it even Jim gave him a straight forward critique.
Wrinkles – by Shari Petro from Milton, ON
She has written a reality book for kids from the perspective of her pug dog, Wrinkles.
* $100K for 30%
* Oh, no. An entire business empire based on the dog Wrinkles. No go. Forget about it. Not really a business.
Kevin is toying with the entrepreneurs, as he likes to do it sometime. Bad habit dies hard, I suppose.
The Litter House – by Daniel Dykens & Robert English from Orangeville, ON
They have created a deluxe cat litter box that keeps mess & odour contained.
– $100,000 for 10% of business
Cute cat. But simply bad business. Worked on it for 8 years? a cat house for $80. Not a good use of time.
Hybrid Backpack – by Aphirath Vongnaraj from Winnipeg, MB
Aphirath has invented a backpack which can be attached to a bicycle.
$2 million for 30%. No good. And just bad.
Softshell Computers – by Raul Rupsingh & Steven Breath from London, ON
They are software engineers who have developed an interface for seniors to send & receive email & photos.
– 200K for 30%
– Touch screen. User interface. Beta tester use it for 10 months.
– Arlene, Jim, Robert – 200K for 50%. They’ve got connections.
They see a business in this but I don’t. I guess thats why they are investing in it and I am not. :)