Dragon's Den

lucky john

jimmii wrote: »

Wouldn't surprise me if she did! I thought her initial valuation was pretty excessive as it still seemed pretty early days with the company. Good she got the investment though much better to have 60% of a company that is really going somewhere than 100% of a company you really don't know where to take!

In some ways this is a medical related product. to make the claims she made last night is going to take a lot of testing to validate and to allow her to legally make such claims. Despite the fantastic progress she has made already this could eat capital and perhaps it has and that's why she was so eager for investment. I would love to know if she approached enterprise ireland or some other body that could have funded her cheaper than the dragon's. Having said that you would have to say the dragon's are there to invest and make money so good for them if this works out well.

lucky john

AlmightyCushion wrote: »

I don't think the shorts are going to be that big, unless I'm missing something (I did actually miss a bit of her pitch so it's possible). Compression shorts are nothing new and I doubt there is anything patentable there. What differentiates hers from all the other compression shorts in the market?

We can only take her at her word that these are unique. Ramona was guick to invest so I imagine she would have an idea what's out there already. I know nothing about compression shorts but I hope this business is as good as it seems.

OU812

lucky john wrote: »

I would love to know if she approached enterprise ireland or some other body that could have funded her cheaper than the dragon's. Having said that you would have to say the dragon's are there to invest and make money so good for them if this works out well.

EI are hard to deal with & won't even talk to you if you have less than 10 full time employees when approaching them, otherwise it's county enterprise board (who have their own issues).

Sometimes going on Dragon's Den is all about marketing rather than investment.

lucky john

OU812 wrote: »

EI are hard to deal with & won't even talk to you if you have less than 10 full time employees when approaching them, otherwise it's county enterprise board (who have their own issues).

Sometimes going on Dragon's Den is all about marketing rather than investment.

Unless this is a new policy by ei then its not strictly true. They run a programme called new frontiers which individual entrepreneurs with 0 employees can take part in and receive substantial funding through it. A friend of mine is on the course at present and is getting fantastic support and funding from ei to develop his product.

OU812

That's interesting. I was speaking with them last week & they never mentioned new frontiers, I'll be calling them tomorrow to enquire.

lucky john

https://www.enterprise-ireland.com/en/Start-a-Business-in-Ireland/Supports-for-High-Potential-Start-Ups/New-Frontiers-Entrepreneur-Development-Programme.html

OU812 wrote: »

That's interesting. I was speaking with them last week & they never mentioned new frontiers, I'll be calling them tomorrow to enquire.

Dazzler88

jimmii wrote: »

I'm not a frequent shaver but would people really bother using that over buying a new razor for a couple of euro?

More than a couple of Euro, I am a frequent shaver, shave every 2 days, a 4 pack of Gillette Razor heads are €10.39, 1 of these Razor heads does me about 2/3 shaves max(they then get blunt and are dumped). So it costs me roughly €10.39 a month on shaving or €124.68 a year. I think the problem this guy has is his approach, he went on Dragons Den trying to pitch a product that would ruin Ramona's razor sales and plus as other Dragons pointed out, his packaging looked tacky. I think he is approaching the wrong people, I can see his product being one of those JML products that you see in Heatons and the like.

jimmii

Dazzler88 wrote: »

More than a couple of Euro, I am a frequent shaver, shave every 2 days, a 4 pack of Gillette Razor heads are €10.39, 1 of these Razor heads does me about 2/3 shaves max(they then get blunt and are dumped). So it costs me roughly €10.39 a month on shaving or €124.68 a year. I think the problem this guy has is his approach, he went on Dragons Den trying to pitch a product that would ruin Ramona's razor sales and plus as other Dragons pointed out, his packaging looked tacky. I think he is approaching the wrong people, I can see his product being one of those JML products that you see in Heatons and the like.

Wow didn't realise they were that much! Assumed they were a 4 for a €1 jobbie! At the time thats exactly what we thought too it looks like one of those quirky JML products.

Dazzler88

jimmii wrote: »

Wow didn't realise they were that much! Assumed they were a 4 for a €1 jobbie! At the time thats exactly what we thought too it looks like one of those quirky JML products.

You can obviously get the cheaper disposable LIDL/ALDI version but I find they cut my throat everytime. if I were this gentleman, I would try and patent the idea in some way and sell it to the likes of JML.

jimmii

Dazzler88 wrote: »

You can obviously get the cheaper disposable LIDL/ALDI version but I find they cut my throat everytime. if I were this gentleman, I would try and patent the idea in some way and sell it to the likes of JML.

Definitely seems like the type of product they would go for. I could imagine it being sold in B&Q or somewhere that men go but don't sell cigarettes already they also seem to have a bit of that JML stuff the odd time.

OU812

DE blades FTW lads. cheaper & a better shave (once you get the hang of it)

AlmightyCushion

Dazzler88 wrote: »

You can obviously get the cheaper disposable LIDL/ALDI version but I find they cut my throat everytime. if I were this gentleman, I would try and patent the idea in some way and sell it to the likes of JML.

There's nothing new there so nothing to patent and there is already at least one company doing it. Google razorpit for a company already doing it.

Peterdalkey

I never fail to be underwhelmed by this programme, and am completely stunned by the credibility afforded to it! Leave out the true stories that follow on from the stuff we are served up in the broadcast shows, the role of the "victims" allowing themselves to be cast as true entrepreneurs is really less than pathetic. I fully get that bringing your project on here is going to get you a huge publicity/PR/promotion boost. The dragons get the same benefit with a tasty side serving of innocents ripe for the picking!!
I do admit that we see a goodly number of people seeking help/investors with perhaps a good idea that they are unable to exploit. These are simply people with a good idea, they are not what I would call real entrepreneurs! A real entrepreneur would lap up the exposure and tell the Dragons to take a flying fcuk!

OU812

Peterdalkey wrote: »

A real entrepreneur would lap up the exposure and tell the Dragons to take a flying fcuk!

Happens quite a lot Peter. A huge amount of the deals that are struck don't go through because they were just marketing plays.

Mark Cuban (US version) recently idid a deal for $150k for investment in an app that takes a panoramic photo using the vibration mode of the camera & mapping technology. The developer pulled out before it got to the due diligence part & then just waited it out.

In the couple of months between filming & it being shown, he launched an android version & the day after the show aired, he sold $300k worth of apps.

Peterdalkey

OU812 wrote: »

Happens quite a lot Peter. A huge amount of the deals that are struck don't go through because they were just marketing plays.

Mark Cuban (US version) recently idid a deal for $150k for investment in an app that takes a panoramic photo using the vibration mode of the camera & mapping technology. The developer pulled out before it got to the due diligence part & then just waited it out.

In the couple of months between filming & it being shown, he launched an android version & the day after the show aired, he sold $300k worth of apps.

my point exactly, I would just like to see some Irish examples before i am swallowed up by cynicism !!

The One Who Knocks

Peterdalkey wrote: »

I never fail to be underwhelmed by this programme, and am completely stunned by the credibility afforded to it! Leave out the true stories that follow on from the stuff we are served up in the broadcast shows, the role of the "victims" allowing themselves to be cast as true entrepreneurs is really less than pathetic. I fully get that bringing your project on here is going to get you a huge publicity/PR/promotion boost. The dragons get the same benefit with a tasty side serving of innocents ripe for the picking!!
I do admit that we see a goodly number of people seeking help/investors with perhaps a good idea that they are unable to exploit. These are simply people with a good idea, they are not what I would call real entrepreneurs! A real entrepreneur would lap up the exposure and tell the Dragons to take a flying fcuk!

You speak the truth, wise one.

modmuffin

Peterdalkey wrote: »

I never fail to be underwhelmed by this programme, and am completely stunned by the credibility afforded to it! Leave out the true stories that follow on from the stuff we are served up in the broadcast shows, the role of the "victims" allowing themselves to be cast as true entrepreneurs is really less than pathetic. I fully get that bringing your project on here is going to get you a huge publicity/PR/promotion boost. The dragons get the same benefit with a tasty side serving of innocents ripe for the picking!!
I do admit that we see a goodly number of people seeking help/investors with perhaps a good idea that they are unable to exploit. These are simply people with a good idea, they are not what I would call real entrepreneurs! A real entrepreneur would lap up the exposure and tell the Dragons to take a flying fcuk!

Completely agree,
absolutely shocked that the lady with the pants gave up 40% equity

ambro25

Dazzler88 wrote: »

You can obviously get the cheaper disposable LIDL/ALDI version but I find they cut my throat everytime. if I were this gentleman, I would try and patent the idea in some way and sell it to the likes of JML.

By the time it gets on DD,

(i) if a patent application has not already been filed, legally speaking it's too late to do it anyway.

(ii) in practice, DD contestants get screened for IP way early by the BBC production team, and

(iii) these days, those contestants without IP 'properly sorted' do not make the selection list anyway.

I have trained the BBC DD production team (in Manchester) about IP and due dilligence on occasions.

What OU812 posted is spot-on. Pre-filming and post-filing due diligence are the deal killers, always have been, what you see on TV is just made for entertainment.