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Name | Colin Hulme |
Pitching | Safespring |
Investment Required | £35,000 |
Equity Offered | 12% |
Brief Description | Device to stop gravestones falling over |
Read how Colin got on and let us know what you think using the comments below
Colin delivers a straightforward pitch, getting the basics across about his 'dead cert' idea but Shaf Rasul is left with one question 'Have you sold any of these units?'
Shaf is dumbfounded by the negative response, given the £350,000 valuation on the company. Even Colin's claim of a 'back-demand' for the product fails to win over the Dragon.
After further investigation the Dragons discover Colin's proposed route to market is through website sales and targeting councils but Shaf is unimpressed by Colin's lack of market research.
Julie Meyer admits that Colin's idea is plausible but she points out that, even as a significantly cheaper alternative to traditional gravestones, the product needs more proof that it is investable.
Shaf is simply astounded that Colin is requesting £35,000 for the Dragons to help him with the fundamentals of setting a business up, when he has little idea of the market and 'the worst pitch I've ever seen in here.' The Edinburgh businessman bluntly declares himself out.
It's left to Julie to offer some sound advice; 'Spend the time thinking through how you are going to sell this.' She also warns against Colin remortgaging his house before she also declaring herself out. Colin leaves the Den brave-faced but without the investment he was seeking.
No investment
Leisure-related products pitched to the Dragons
Julia Charles, D4M
David & Patti Bailey, Motormouse
Michael Oke, Bound Biographies
Alan Mandel Butler, Apocalypse Ltd
Sue Sheridan, New Definition Art
Matt Wilson, Free Discount Card
Paul Cockle, The Generating Company
Colin Hulme, Safespring
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