Entrepreneurs - Emily Webb

Emily, a Monmouth-born Exeter University student who has rowed for her country, gives a confident pitch explaining how her training aid for rowers can prevent hand blisters.

In answer to Deborah Meaden's query about intellectual property rights, Emily clarifies that the idea is hers (a result of her GCSE Design and Technology project) and she has a patent approved in the UK and USA. She also points out that there are 22,000 affiliated rowers in the UK.

Duncan Bannatyne asks how many she has sold. She replies she has only sold six so far. The grips cost £6 to manufacture and she retails them for £17.99.

Duncan then wants to know if they can be used competitively and while Emily hasn't received official approval from the Rowing Association, they are aware of her product and have raised no objections. Duncan points out that until they can be used in race conditions then rowers would still run the hazard of getting blisters in competition.

James Caan changes tack and asks whether the product could be used on any bar that needs gripping, say bicycles. Emily concurs saying the patent she has been granted means they can be used on any type of handle. She then demonstrates their use on crutches and says she has been in contact with one of the largest mobility aid distribution companies and they have expressed an interest in talking to her further.

Peter Jones wants to know about her sales forecast for the first year. Emily aims to sell 6500 to the mobility market and this would represent just 2.5% of the number of people in the UK who at any point are using crutches.

Peter says he doesn't believe for a moment that such a high percentage of people would ever get to know about her product, never mind want to buy one.

This first resistance from the Dragons unnerves Emily and when Theo Paphitis asks what she would do with the £75,000 investment her time in the Den goes into freefall.

Emily struggles to explain how she would spend the money. She claims she would put £32,000 towards "working capital", but she is unsure whether this term refers to the value of her curent stock or the order she has requested.

Peter Jones opines that she doesn't have a grasp of her numbers, hasn't considered how she will advertise her product and is wooly on business terminology - he's not convinced she knows what working capital means. Most importantly, he doesn't think he will make a return on his £75,000 investment and for those reasons he is out.

James Caan points out that while Emily has seen a problem and come up with a solution, she hasn't spent enough time thinking about the business. She replies that she is currently studying for a business management degree and will continue to do so. This does not satisfy James who says he wouldn't want to invest in someone who could only work on the business at evenings and weekends. He, too, is out.

Deborah Meaden worries that Emily has only identified lots of small markets for her product and when the 20 year-old entrepreneur replies that she has a conference call lined up with a major mobility aid distribution company this only exasperates Deborah. For her to invest in Emily, she would need to be further on with the distributor and moreover she hasn't convinced her about the size of the market or indeed the quality of her product in that market. For those reasons she is out.

Theo Paphitis thinks Emily's potential markets are so tiny he would never get a return on his investment and, while he has enjoyed listening to her, he too is out.

Health club Dragon Duncan Bannatyne is left with the final word. He thinks the young entrepreneur is fantastic and he could certainly ask his fitness director to look at the product with the view to putting it on his rowing machines. However like the other Dragons he can see no possibility of making a return on his investment and for those reasons he is out. Emily leaves the Den emptyhanded.

The deal done in the Den:

No investment.

Last updated: 29 July 2009