Dragons Think This Tech Product Is Too Expensive | Dragons’ Den

[Music] Next to enter the den an optometrist Duo Who believe their business will Transform the Eye Health of a tech Assassination Our products are useful because screens Have become an integral part of our Lives and we feel it's going to help People and their well-being screen Protector what's the glasses for our Blue light reduction And in their quest for investment druvin Patel and Assad hamir have their sights Set on two particular dragons We'd love to work with tej because he's Healthcare orientated secondly Peter Because he's a technology Titan and Effectively our products are both Healthcare and Technology based so if we Could get both of them that would be the Dream But will the Duo's product catch the eye Of the Fearsome five they're about to Come face to face with [Music] Hi dragons my name is Julian Patel my Name is Assad hamir we're here today Because we're seeking 75 000 pounds in Exchange for 5 equity in our business Did you know Blue Light which is emitted From All Digital device screens can Affect our health and well-being I researched this exact topic while I Was studying to become an optometrist at

University This led me to a light bulb moment why Not create a screen filter that goes Directly onto the device itself and Absorb blue light I'm doing this idea I submitted into a School competition and I won With the grant funding I was able to Develop numerous prototypes and okay Sure was born official screen filters Are available for smartphones tablets Laptops and monitors We now even do blue blocking glasses Such as these and an ifriendly desk lamp Both of which limit blue light exposure In The Current financial Year we're well On track to hit a 10 over 1.8 million Now we believe with the right investment From the right dragon that we can take This business to a turnover 8.1 million Pounds within the next four years we'll Now open up the floor to any questions Thank you for listening A range of blue light blocking screen Protectors is the vision of driven Patel And his business partner Assad hamir [Music] Is my image on all of the other Dragons's phones They're asking for 75 000 pounds in Exchange for five percent of their Business and whilst tej lauvani check s Self out say how intelligent I look for Glasses on

Davies wanted to check she seeing things Correctly when it comes to the product's Purpose Right guys I've heard of this blue light So this is when my husband twists at me Late at night because I'm in bed and he Knows I'm flicking throwing my phone and I shouldn't be is that what you are Protecting from yes so blue light as a Whole it affects us in three ways so We've got eyes sleep and skin first is Eyes if you're looking at screens over a Period of time that cumulative exposure Causes visual stress so you get tired Eyes headaches secondly to what you're Referring to if you're using screens in The evening the blue latches suppresses A whole Minecraft melatonin and that's a Hormone that actually tells your body It's time to go to bed so you're Delaying that process right okay so Understand the need for it yeah is this Technology unique to you guys and do you Have any intellectual property so when I Start that this at University I spoke to A patting attorney and unfortunately Because we're dealing with wavelengths Of light there wasn't anything Defensible because it would have been Easy to to get around so I had a Decision to make at that time do I just Release a brand into the market or do I Go around the pattern process so so I Went around creating the brand and it's

Now paid off because what we have now is A brand that is number one in Google Both in the UK and in numerous countries For blue light screen protector and also On Amazon as well but also ranking very Highly so where would you prevailing When people are looking for products Like ours Driven defends the product's lack of Patent by demonstrating the strong Online presence for the blue light Business And it appears the need to protect our Vision is something the entrepreneurs And one of their dream dragons Dej Lovani ci2 Isle It's definitely an interesting space and There's a lot of concerns about it in Fact we do a vitamin supplement that's Specific to dry eye syndrome so when People are looking at their screens they Get dry eyes so it's an interesting Marketing we've got it into Opticians And online and in retail tell me how Many years have been operating now so I Found it in 2015 Um and then the second and third year I Was still trying to become a qualified Optometrist and an evenings shipping out Products in my bedroom and in 2018 went Full time into the business and that's Where I'm at Assad as well so with the Current year you're estimated to do 1.8 Million what's your gross net estimated

On that uh Grace of 1.2 And uh net one 197. why is there such a Drop to net profit when you only got the Two of you so whether it's custom Acquisition whether it's investing Product development So when you say Gross profit you're not talking of cost Of acquisition so it's not real gross Profit you're taking those below the Line to give us the cost of goods Soldier right So it's not the right way to calculate Gross profit really Because you're over inflating the Opportunity in the size of the Opportunity I don't include cost of Acquisition and my cost of sales I do Aware online businesses it's a typical Model to acquire any online business I Don't just so you know stop arguing Dragons Guys I have well done a great product Thank you thank you what's the retail Price let's start there first sure so Their phone screen protection yep we Sell it for 24.99 whoa Um the iPad product is 29.99 yeah uh Glasses uh 39.99 and how many different Brands are they're selling the same Product I'd say under five what's the Difference in price sure so there's one That's uh low balling in the market so Probably at 10 pounds 10 pounds yeah You're at 24 they're at 10. yeah we're

Trying to position ourselves as the Thought leaders both from a kind of Brand point of view but also like the Fact that we're optometrists we're Healthcare-led so that the strength Comes in the brand guys see I've had Loads of different screen protectors for This that and the other and I do just go And search and I'll be honest I have a Look and quite often I do buy the Cheapest one yeah and if I had bought These at 39.99 and got this delivered I Would send it back Because this is not worth 39.99 So it's for that reason that I just Don't see an opportunity here then I'm Out Sarah Davies deems the pairs products to Pricey and becomes the first dragon to Decline the deal And it appears Deborah meaden is Wondering what she could bring to this Venture So when I sit in this chair and I think About whether or not I'm going to invest I've got to see a Clear Vision about What I can do For you so what do you need a real Global aspirations for the business and We're our key point now where you know The business can go to the next level Especially with a dragon on board so Sounds like the piece And you know in this market

If I said to you oh don't worry I know Exactly what to do we'll get this Straight into the us and we'll do blah Blah blah so I'm not going to cheat you I won't be investing I'm out Guys uh what concerns me is Um barriers to entry when you say you Wanted to go International I guarantee You in most major markets there are People like yourselves doing this The products available So I wish you all the best guys But on this journey I'm Gonna Let You Go Alone I'm out Tuka Suleiman fears a potentially Crowded Market will stifle the Entrepreneur's plans for world Domination and he becomes the Third Dragon to exit discussions Peter Jones's Track record in taking new tech to Market meant he was in the Duo's sites When they entered the den but is the Feeling neutral I think you've done really really well To get it to this point where do you Want to be in three years mine and Assad's Ambitions here is you know Creating a digital brand which speaks to The customers on ihealth So I've kind of been in this space for a Long long time and have built brands That are well known and sold them for Multiple millions and I know you've come

In the den to get me today So I would like to make you an offer And I'm going to offer you all of the Money But I'd like 20 of the business The optometrists turned entrepreneurs Finally have an offer of the 75 000 Pounds they're seeking albeit in return For four times the five percent equity They've put on the table Is tej lauvani also ready to green light A deal for the blue light blocking Business It's definitely going to be a Competitive market that's for sure But I think there's a gap in the market Especially with Healthcare and Tech You're building your brand and that's What I do build Healthcare brands So I will make you an offer And I'm gonna offer you all the money 75 000 pounds For 10 percent [Music] Makes his move and boldly undercuts his Rival dragon's Equity art by heart The entrepreneurs preferred investors Are now going head-to-head to grab a Slice of the I-80 Enterprise And it appears Peter Jones hasn't Finished presenting his case [Music] There's no question in my mind That I'm the person for you

You're forecast of 1.8 you want that to Go this year to maybe 5 million And then next year 10 . yeah and I don't think there's anybody Else that can do that apart from me I doubt that Um because you just don't have the roots To Market that I have And Ted certainly doesn't Okay look if you want distribution Peter's your guy no no I don't know I'm Not just can I speak Peter Don't don't talk at me talk about you Well this is my opinion If you want distribution go to Peter no No do you want to create a healthcare Brand in the tech space there's no one Else here that can create a healthcare Brand like I can globally The offers are in it's up to you do you Want to think about it Before we go to the back of the room can I just ask a question we really want to Build a healthcare brand and we see a Massive opportunity in distribution Would you guys consider a deal together I would if he apologizes for trying to Just suggest that I'm just a district Someone introduction me when I was Speaking But obviously we fight like cat and dog As you've just seen That doesn't make it bad You know if you're willing to accept

A reasonable offer I'm very willing to Work with tej If you think this is the way that you Want a new thing the value at then I'll Agree to that great should we go to the Back room yeah yeah So two offers to consider for the Optical entrepreneurs Peter Jones is Seeking 20 of the business whilst tej Lauvani wants a smaller 10 stake but Both deals are asking for way more Equity than the five percent the pair Wanted to give away However it seems they're not to a Potential joint deal has got the Duo's Cogs worrying Unless you related let me try yeah can They strike a deal to make their dreams A reality So firstly thank you so much for the Offers We feel the valuation make sense but at The same time we recognize the value That dragons can actually bring to this So would you be willing to agree a deal 10 So five each If we said 15 percent I would go for it I'm happy with Peter's suggestion Seven and a half each I don't think You'll regret it you've got the two best Dragons in that Industries Great cool got a deal yeah right

Excellent well done very excited to be Working with you can't wait it's going To be great yeah can I just say I've Watched this program as a teenager and Yeah it's just such a surreal moment Being here and I think we've got two Dragons on board so yeah really happy Enjoy it we got the deal There we go cheers thank you thank you So much druvin and Assad leave on cloud Nine With the two dragons they wanted and 75 000 pounds in their company coffers Words cannot describe how I'm feeling Right now I'm not quite sure what to do With myself I think I'm so excited I Need to sit down and take some time out We did it Well done Mr Jones all right well done Great investment and Tosh is smart Accepting the offering well I look Smarter with his glasses and I don't Know To get two dragons that we wanted is Just an amazing feeling get ready to do Some work now The future for our business is Incredible I'm really looking forward to It

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