|Name||David and Patti Bailey|
|Brief Description||Wireless computer mice in the form of supercars.|
The Warwickshire duo give a confident pitch for their hi-tech wireless computer mouse that has Peter Jones in raptures.
"It hits all the buttons. I'm a boy, I love cars. It's my little dream" he gushes. However he wants to know how many people like him are out there.
Patti reports that the market includes aspirational twenty somethings as well as the more likely business types and that while there are other similar products around they are aimed more at the novelty market while their product is firmly pitched, by virtue of its quality and its price point (£35) as an executive gadget.
Theo Paphitis asks about the husband and wife team and learns that while Patti is a self-employed training consultant her husband has been working for a consultancy firm until devoting his time recently solely to his inventions.
Theo then discovers the pair have recently signed a deal with a "super car Italian manufactuer" for a branded licensed product that would retail for £36. David adds that the pair have already put £45,000 of their own money into the venture.
Patti points out the pair also trade in property so they have money to develop new ideas.
James Caan observes that the duo present well and he can't work out what the missing ingredient can be.
Patti confesses their lack of retail expertise is their greatest drawback.
When James asks who their biggest potential single retail customer might be they reveal they have approached a well known High Street name but interest has only been expressed so far.
Retail magnate Theo Paphitis opines that the quality of the product is "fantastic" but the competiton is fierce and the price point is problematic. To sell profitably and in sufficient volume the couple would have to consider bringing the price down to £20. For those reasons, he is out.
Duncan Bannatyne believes the market isn't big enough to make it a viable business and for those reasons he is out.
Deborah Meaden agrees with her fellow Dragons. The price point is an issue and even if it was addressed the market size is an even more insurmountable one. She, too, is out.
Peter Jones suggests that if the pair had come into the Den asking for £50,000 he might have invested in them. While they are "investable", pitch "brilliantly" and have a "great" product, the market is too small for an investor. He is out.
James Caan echoes all the sentiments of his fellow Dragons but remains "inspired" by the pair and wants to look beyond the computer mouse. He points out that he currently has 30 businesses and suggests putting some of "my products into your business and leverage your expertise" in return. As the pair have a company worth £240,000 at the moment (the value of one property), he proposes to invest £120,000 for a 50% stake and they would agree to use their marketing skills on his other investments.
The pair take some time to consider and come back with a counter offer - uncomfortable at a 50:50 split they suggest a 60:40 divide instead. James wants to meet them halfway at 55:45 but the pair stick to their guns - only 60:40 will do. James agrees to the deal.
James Caan: £120,000 for a 40% stake in Motormouse
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