|Pitching||The Suit Commute|
|Brief Description||Backpack specifically designed to hold pre-hung crease-free clothing and other commuter accessories.|
It's a polished pitch from the impeccably dressed entrepreneur and Julie Meyer is keen to find out more.
Starting with price Tony informs the Dragons he has just started retailing, selling for £29.99 but that he is hoping to raise the retail price once the product is established. He is currently selling online with two major companies, although Shaf Rasul determines that this is as a merchant, rather than sold stock.
Julie enquires about his second invention, the Flickey, which holds different shaped keys in removable caps and combines them in a handy tool. He admits there is a similar one on the market but it's very expensive, you can not remove the keys and it doesn't have a light.
When Shaf quizzes Tony on any new ideas he might have, the eager entrepreneur confirms he has lots and that they will all go under the same company. The confident entrepreneur states it's an investment in him and his future inventions, not just those presented today that he is offering the Dragons.
The Dragons want to know more about the entrepreneur's background. Tony explains he draws on experience from two years in art college and that while he lacks technical design experience, he is just able to see how products could work inside his head.
Julie assumes Tony does not have a day job but the designer is quick to let her know he is currently working for a major outdoor sports chain, although he is hoping to leave and concentrate 100% on his own business. He also reveals his inventions are currently being looked at by his current firm's buying department.
Shaf steers the conversation back to money and looks into how much the inventor is looking at taking from the business as a salary. Initially he says nothing but in the long term he's looking to take a small salary from the business.
Shaf Rasul immediately offers him half the money for 20% providing Tony can convince Julie Meyer to put in the other half.
Undecided, Julie Meyer wants further proof that he knows how he is going to achieve some serious revenue. He confirms he has sent samples off to a number of large retailers including the one he works for and he is waiting for feedback. He is happy to sell the product through any retailer that shows interest.
Julie likes Tony's approach and agrees to match Shaf's offer for a further 20%.
Last updated: 6th April 2010
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