William delivers a confident and polished pitch to the Dragons, asking for money to invest in his "Clever Bin", a solar powered street bin, complete with an alarm and GPS tracking, which he is aiming to sell to local authorities.
Deborah Meaden seems amused by the bin and goes on to enquire about cost, whereupon William tells her that the cost of these bins is around double that of a normal bin.
He says he has interest from a local authority who "love the bins" and they are waiting for him to be able to confirm that he is able to supply the bins. A puzzled Deborah asks why he isn't able to do this and William tells her he needs to wait for advertising deals, as he is going to supply the bins for free and will instead be making his money from advertising.
Deborah goes on to quiz him about these advertising deals. He tells her he has three orders so far worth over £19.000. He tells the Dragons that he’s leasing the advertising space to agencies who will charge advertisers £900 a month of which he will get £350 every month.
James Caan asks for more details about the cost and establishes that William will only outlay £600 for a bin and then go on to make £350 a month from that bin, something which an interested James Caan comments is clearly quite an attractive profit margin.
Duncan Bannatyne asks to see William's paperwork of his promised advertising deals. But, whilst Duncan is inspecting them Peter Jones cross-examines William, asking why if he already has advertising deposits he hasn’t put some bins out on the high street.
William explains that he can't afford this as he also needs money for maintenance. An unimpressed Peter accuses him of trying to pull the wool over his eyes and tells him that once the bins are in place he'll be making the money to pay for this maintenance.
A calm William explains to Peter that first he needs to pay for £12,000 worth of paperwork. An angry Peter tells William that what he is saying is infuriating and complete rubbish, "the biggest load of bull I've ever heard in the Den". For that reason, he's out.
Deborah Meaden soon joins him, telling William that she doesn't want to invest in a good salesman, instead she just wants to invest in a good business.
Theo Paphitis is next to speak, saying that if as an advertiser he had 100 bins at £900 a month this would cost him over £1 million a year. If a marketing director of his came to him with that deal he would put the marketing director in the bin and wheel it out.
A calm and resolute William reminds him that he has deposits from people willing to pay this amount but Theo assures him that no-one will actually pay that much money. For that reason, he's out. James Caan follows him, saying he thinks his £65,000 will end up in the bin.
In the meantime Duncan has been scrutinising William's paperwork. He concludes that the clients William has lined up can pull out very easily. He tells William that it's not in his best interest to continue with this scheme and so he's out.
Shellfish farm off the East Coast of Scotland.
The multi-millionaire investors eager to invest in the Den.
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