Dragons In Hysterics Over Product Name | Dragons’ Den

Foreign [Music] [Music] S my name is Raymond I am the manager and director of a Company called true cook limited we are Requiring 50 000 pounds worth of Investment And be time for the 10 share of the Company this is our product entitled Magic Pizza which has been specially Designed to eliminate undercooking at The central region of a pizza Especially those to be cooked from Frozen How magic Pizza Works The dish is placed in the oven the pizza Is placed on the top it's on the cooking Cycle the outside breeds and will droop Leaving the center region in the higher Cooking range For more evenly and healthier cooked Pizza there is also a reduction on the Cooking time of up to 20 percent I have a UK patent enforce I have a European patent pending I have a US patent pending I also have a European Community designing Force I Have for demonstration purposes two Pizzas being cooked one on Magic pizza And one not whether it'll be over 20 Increase in the center rating of the one On Magic Pizza [Music]

A nervous Raymond Smith has come into The den asking for 50 000 pounds in Exchange for 10 Equity of a kitchen Gadget that he claims Cooks pizzas more Evenly than on a conventional oven tray Alone but what will the dragons know About the frozen pizza Market James Khan Is up first Okay Raymond is this a major problem for The consumer that's a well-known problem It's called normally called the Soggy Metal That's his name The Soggy Santa Rosa that is Okay and how did you come across this Dilemma well I used to cook them years Ago and they were they were soggy she Wouldn't do Ravens you said this is serious pitch Yeah what are you selling this for I haven't sold any at the moment I Haven't got to that stage wow And when did you when did you have that Eureka moment that the pizza industry Needed the magic device six years ago That's a long time Raymond to be Evaluating a proposition development and Development and protection building of Protection as well and has anybody sort Of put their hand up and say we'd like To buy Fifty thousand or a hundred thousand of These or anything like that at the

Moment no It's not a great start for Raymond as Nerves have rendered him inarticulate And monosyllabic Duncan banatine is now ready to deliver His verdict on the taste test That just actually tried both the pizzas And I couldn't tell the difference Between either of those two pizzas no They're both overcooked but after the Bend on the done for the right amount of Time on the temperature well tell me What causes soggy middle It's a lost area to thaw out It happens in frozen pizzas no more so In frozen pizzas but it does improve the Fresh pizzas as well have you married Pieces I cook my own yes is that when you Discovered the problem yes yes ago Raymond hello hello I'm Deborah Um how much does it costing you to make These they're made it's all tilled up in India To bring them over already box and Palletize at least 65 Pence each 65 Pence see I actually don't think it's a Silly idea Soon find out well Not me because I've got to be in 23 Years but but I actually think that's Why that's why you think it's a good Idea I think it's a good idea there you Go qualified yeah

Deep frozen pizzas does that qualify Does that count as cooking a meal for a 199 little line I don't I I actually Don't think I think that would sell so They learn to use 65 Pence how much Would you have to sell them Paul I think we should start off at two Pounds each and then start reducing them Depending on quantity but Yeah but are you thinking of selling Retail I'm guessing you're not you think You're selling wholesale aren't you You're not thinking at all how you're Going to sell them are you Raymond not Not really well that's okay that's not That's you know you've produced it You've protected it but you don't Actually have a plan for selling it so There's no point asking about a business Plan [Music] Raymond's bid to attract Dragon Investment is in danger of fizzling out Theoper fetus decides to take a turn Extracting information about the magic Pizza Just tell me when you've got your Pattern What did you get a patent for Method and apparatus for coconut Pizza Method being raised in the middle of the Pizza Jordan the cooking cycle See and these are delivered to you from India

Other dogs on a pallet for 65p packaged 68 with the freight How did you get it manufactured in India I went out to India you went to India I Went to India out of contact with the Man before I went out right went out and I've been to his factories and it's all Tilled up and ready to roll what's the Minimum or do you have to make fifty Thousand fifty thousands Bremen I don't think you'll sell fifty Thousand I think that's the issue I mean what you've done is fantastic to Go along and go in and all through the Patients and things But it doesn't make it a viable business Or a lot of things in a business in it So that's why I'm not going to invest And so agreement I'm out hi After the initial setback of his Unsuccessful demo Raymond has dealt Another Blow by losing his first dragon Deborah meaden has now heard enough to Make up her mind Raymond can I tell you where I am I I Think The problem is to make this work I think these will probably have to sell About 1.99 if you're lucky you'll make 50 pence on each one if I offered you Fifty thousand pound for 100 of your Business you'd have to sell a hundred Thousand of them before I got my money

Back I'm not convinced that there is That bigger market so I'm afraid I'm out Okay let me tell you where I am Raymond I just feel for the amount of time You've invested in this So I'm just sitting there thinking at What point are you going to make any Money and the best advice I would give You Raymond is don't give up your day Job Rain I'm out okay So far it's all one-way traffic from These tough multi-millionaire investors Will Peter Jones see anything to Convince him to part with the 50 000 Pounds Raymond so badly needs Raymond Um I would say actually Don't do any more work don't spend any More money but license it to a cooking Utensil manufacturer on a global basis For some sort of small license fee even If it's 10 pence per item you can just Sit back and take in the royalties if it Goes Global I mean this could be the cat Size of the pizza We don't know you know it literally Could go like that you Um Actually now I've just said that it's Made it quite attractive Well what Peter's thinking about his Cat's eyes Who put this together for you that was

Made of anandia but I designed our I I just don't know what to say to you You stand there in front of us and Initially And I'm not just talking for myself The View would have been going through Our mind was that you're barking mad But you're wasting everyone's time But you've covered a dentist I've got a Pattern And you have I think your packaging is excellent Someone And I don't think it's you Needs to go out And see if they get orders for this And try and sell these There's one Dragon left but left in And it's whether he's got anything more To add [Music] The atmosphere in the den has changed to The amazement of their Rivals Peter Jones and Theo perfetus are starting to Warm to Raymond's invention but will it Be enough for either to throw him a Financial lifeline [Music] I don't know what to think of honestly When I first saw it And you you your picture was Bloody Awful I've got to say I'm Fair In Fairness Raymond it wasn't that good no Um

But it is the fact that you've got a Pattern as I said I think what if you Could sell a few million of these and Could go worldwide I am going to make you an offer and I'm Going to offer you half the money for 25 Percent And I would be more than happy to go and Speak to To the asdas and to the Tesco's and the Sainsbury's We should mean the other half would come From me For a further 25 we'll take a punt with You take a gamble with you This is high risk And we're not a charity It's an amazing turnaround and Raymond Now has a joint offer but they are Demanding half of his company will he be Willing to give away more than five Times the amount he initially intended [Music] So is that a yes no Yes Raymond has done it in an astonishing About turn he's walked away with 50 000 Pounds as well as two well-connected Dragons [Music] [Music] Ray I mean hearty congratulations on Well what a turnaround from the Beginning yes it would look look very

Bad didn't that early on I thought I'd Had it so that I wouldn't get any Investment today at all no I think this Was probably the quietest investment the Most unassuming inventor who's come in Gently sold the product and walked away With the money probably yes it was Wasn't in there too long I think we were All reaching for you very well done Thank you [Music] [Applause] Thank you

Your First Funnel Challenge
Quickly Launch Your Idea And Turn It Into A Business That You're Proud Of In Just 90 Minutes A Day!

(This Can Work Even If You Currently Have No Tech Skills, Don't Have A Product, Or Have No Idea What A Funnel Is Yet...!) 

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