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Shane Lake and Tony Charles pitched a website offering take-away restaurant options in a user's locality. Would they whet the Dragons' appetites?

The Bid: Shane Lake and Tony Charles wanted £100,000 for 11% of their business

Shane Lake and Tony Charles give an a la carte presentation and when James Caan digs deeper they offer mouth watering three year financial predictions.

Peter Jones is unimpressed by this, suggesting he could do this a lot cheaper himself and is very quickly out.

Deborah Meaden follows suit, not convinced people's eating habits are such that they would want such a wide ranging choice of restaurants in the first place.

Two Dragons out and Shane and Tony have barely finished their hors d'oeuvres.

As an entree Theo Paphitis discovers they have a direct rival that has established four times as many clients in the same time.

Far from being alienated by the success of a rival, James Caan is impressed by the money-making potential of this business model and offers them half the money they need for 25% equity.

Theo by contrast sees the rival as a problem since it shows there are no barriers to market and because of the financial risks involved he declares himself out.

Only Duncan Bannatyne can save the deal and he is prepared to offer the other half of the money but, like James, for a 25% equity.

The duo have an offer but it demands giving up half of their business.

They attempt to negotiate themselves a better deal and both James and Duncan agree to lower their equity in years two and three if they deliver on their ambitious three year forecasts.

The deal done in the Den:

Duncan Bannatyne and James Caan: £100,000 for a 25% stake in Hungryhouse dropping to 15% if targets met.

Last updated: Snapshot from November 2007

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