|Pitching||Pick Up a Patio|
|Brief Description||A circular 'easy up' patio system|
The Hampshire based gardener presents a very nervous but nonetheless clear and concise pitch. Nicky now needs to keep her cool as the Dragons start their digging.
Julie Meyer invites her to tell her back story and the inventor recalls that it started while working for her husband's fencing company. Patios were popular but there were fundamental problems getting equipment in and out especially in terraced houses. She was convinced there had to be a better way.
Shaf Rasul inquires about her market research. Nicky explains that she prefers to go to senior buyers as she believes they know what their customers want. She reveals that she is currently in talks with a major DIY company to trial the product in several of their stores but concedes she needs the investment to manufacture the product and test it before the deal can go ahead.
Money-minded Shaf asks how much the product will cost. Nicky explains the patio will sell for £259.99 for a normal, mid-ranged, circular model.
Julie digs a little deeper
Julie wants to know what she will spend the investment on. The entrepreneur breaks down her investment costs and elaborates on her future figures. These look good initially but she crucially adds that they hinge on a single deal that she won't be able to deliver on without the Dragons' cash.
Under further scrutiny from Shaf Rasul as to her deal with the DIY company Nicky's pitch starts to crumble. She is forced to admit she hasn't yet got to the negotiation stage as she is unable to confirm she can deliver.
Shaf Rasul doesn't believe the product has a mass market and so for him the opportunity is too small. For that reason he declares himself out.
Julie admits she likes Nicky's style and her determined, gritty personality but she doesn't see it as a business opportunity right now. However she would like to follow the inventor's progress. Julie Meyer is intrigued but not convinced and for that reason, for now, she is out.
Despite her best efforts Nicky has failed to woo the Dragons but she leaves the Den with some good advice and maybe a business partner sometime in the future.
Last updated: 31st March 2010
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