“That Is What I Call Dream Land Valuations” | Dragons’ Den

[Music] Next to enter the den is Matt Jones An entrepreneur who's experienced some Tough times I left school at 14 with no Qualifications started taking drugs and Getting myself into all sorts of trouble And it got pretty bad But it's a difficult past has motivated Matt to provide a brighter Brighter It's the reason why I'm in business and The reason why I do is for my children Because I now have a 14 year old son so I want to make sure that he's taken care Of and looked after [Music] To be here and face the dragons and be Successful would be absolutely Incredible it'd be a life-changing Moment [Music] Hi dragons my name is Matt Jones and I'm The owner and founder of muscle for men And I'm here today hoping to secure Investment of 66 000 pounds for five Percent of my business For as long as I can remember I've Struggled with my skin and with my hair Which really affected my confidence and After months of research what is really Evident is that there's a lack of Knowledge and understanding surrounding What skin care products are right for

Men and there's also a lack of Confidence when it comes to ghosts Asking for help and not just for they Were skincare they were hickey but it'll Well-being too myself for men is a Premium brand for the everyday man our Community is a safe place where guys can Come and learn about skincare and hair Care but also well-being and there's Somebody who's had mental health issues Myself in the past I found it beneficial To speak to people that weren't Connected directly to my friendship Group because they were kind of less Judgmental And I'm hoping that today I can be Successful in securing one two three Four in five dragons to join me on my Journey as I continue to build my soul For men into a global business [Music] Skin and hair care range for men is the Offering from Matt Jones who's seeking 66 000 pounds in exchange for a five Percent share in his business you brush Your beard with that oh the brush yeah I Mean I wouldn't know I've been growing What you see here for 15 years Stephen Bartlett may be more Adept at Cultivating a social media din than hair On his chin but in a crowded Market he Wants to establish what makes Matt's Products stand out from the competition

Matt hi Steve nice to meet you um so the Last time I bought male beauty products Was actually quite recently yeah a Couple of weeks ago what is your like One-liner two-liner USP that makes you Different from all the other male beauty Products that I could choose from or Simplifying an educating skincare Products and put them into routines so As guys we naturally have oilier skin Which can cause black hairs and white Has and also infections so our products Are built to deal with these types of Things and are those USPS well they're Actually USPS that would simplify and Educate skin care okay so the education Pieces is the biggest piece is the Biggest piece okay could you just run me Through your um financials absolutely From the first year first year was 10 Over 14 000. and that lost 248 000. 248 000. have you put your own money into This business yes I have how much 423 000 pounds Where did you get 423 000 pounds and why Aren't you sat here I owned a national Advertising agency and I sold Environment management by on the 24th of October 2019. how much did you get A few million The news that Matt's Business sold for a seven figure sum has Bought him a degree of leeway in the den Despite current losses

Now Peter Jones wants to find out more About The Man Behind masoa You just shared with us and this is Obviously really difficult but you did Share that you yourself have experienced Mental health issues what could give me A bit of background to that what's Happened and okay so I completed on my Management by eight we went live Straight out with masoi and the pandemic Hit in March and sales did slow down Because people weren't really interested In moisturizer at the time it was more Kind of what we're going to do so I just felt as though like what I had Achieved in the past was some kind of Flu just lost I believe myself Completely so Um it got pretty bad I I'd be running in The mornings and bursting the tears like I just wasn't happy so I reached out to Help and I got a coach and I got the Belief back myself and Um this product my soul for men is my is My baby you know and it reviews RCP are Fantastic if you read them people say I Didn't know there was a brand for men That's actually making a difference to My skin to my complexion so now I'm kind Of getting back to the place where I am Believing in myself again well you are An absolute inspiration thank you very Much sir and that's something to be Proud of

Foreign Resilience is an important quality for Any entrepreneur and this business Owner's fighting Spirit has clearly Struck a chord with the dragons But fashion Tycoon took a Suleiman is Keen to steer the conversation back to Matt's bottom line You probably know I'm in the men's Business yes and we've got over 300 000 On our database cool To men yeah and what I want to focus on Really is when you lost 248 000 where did that money go So startup costs what are the old Costumes to test the product develop the Whole thing around about 375 000 fine uh What was the turnover last year 84 000. How much cash you got in the Bank 183 000. how much stock have you got 85 000 Pounds worth so really you've got about 220 000 worth of assets yep and you've Got the brand correct and you're valuing That and they're approaching a million Pounds 1.3 1.3 because that really is What I call Dreamland valuations and I Would love to sell my businesses on that Sort of valuation but when it comes to The real real crunch I mean you'll have To give a fair chunk of your business Away if you really want to take this uh To another level Takes issue with the Hefty price tag Matters attached to the business which

For now at least is losing money And a brand Savvy Deborah meaden has Spotted a potential problem with his Products You have two ranges here that look quite Different because that's actually really Quite strong But when I hold that against this you Know this is an eye-catching strong Brand but of course it's removed from The other range so which are the Elements that you would call your brand The icon and the name across the top That's interesting because I think you Kind of miss a trick on that yeah Because that drops that back this looks Interesting and if I was looking at that On a shelf I think oh what's that that Looks to me like every other male Product that would exist no I appreciate That can I check it's Um its credential is it organic the Organic ingredients are correct why Don't you say it's organic Why don't we say it sorry why don't you Say it on this I mean there's no point promoting it as An organic product absolutely not the Past two years have been all about r d I Know these things I have to change in Update and that's why I want to work With the dragon Matt Matt you're smarter Than that You've come from an advertising agency

You know damn well that it should be on This product so why isn't it on the Product all of a sudden no well it is I find it really hard to believe that You go to the extent of getting yourself Organic and then fail to tell your Customer that you are organic He might be a great guy but I'm afraid I Won't be investing I'm out Uncertainty over the product's organic Credentials leaves Deborah meadden Exasperated and the entrepreneur loses His first potential backer Will Sarah Davies be any more willing to Back his range of beauty products for Blokes with big bucks The Skin Care industry I'm interested in it because I'm a Consumer for it yeah But that's the female skincare industry The products the the business wouldn't Get me out of bed in the morning I Understand doesn't mean I don't think You're going to be really successful With it just means I don't really want To invest in it I appreciate that makes Sense thank you so I'm out Matt I got huge respect for the journey That you've been on and the fact that You lost your self-belief And now you've got that back I mean that's fantastic thank you Peter But you know I'm sitting here thinking The fact that you've gone very very

Clear down the men's route yes you've Now separated your Your potential for the market I wouldn't stop but I would I would Freeze Reevaluate And I would open up your Marketplace and Have something that's totally Differentiates you from someone else so That's the pause button I would press Before you go forward I'm not going to join you on your Journey and say that I'm out But good luck thank you very much Peter Thank you thank you A trio of dragons have now walked away From the deal Tuka Suleiman bolt at Matt's original Valuation but does he see sufficient Potential in his business to make an Offer that adjusts it I'll be honest with you I like what you Do thank you however You got to need a magic wand you have One I think I've got one my only Stumbling block is your evaluation okay [Music] No I'm gonna break cover oh gonna make You an offer Um So I'll give you all of the money that Is the exact thing of 66 pounds but I Want 35 of the business But what I'm offering you is a plug-in

To over 300 000 people overnight An offer for Matt from a dragon who Already has experience catering for his Target market But it comes at a price seven times the Equity he was originally looking to give Away if you accept tuka's offer for 35 You're gonna have to give up your Firstborn well if it's a great offer 35 Can you get 300 000 people yes Can you guarantee that I own the biggest One of them you can own whatever you Want we have 15 million followers good Boom tweets oh great I've got buyers That buy men's products well as you have As Steven hasn't made an offer yet okay Make your offer Do you know what Matt I really I really Like you oh thank you and I think for This to be a really really interesting Valuable business that'll reach global Scale it's you're gonna have to build an Amazing brand do I think the story Behind the brand is amazing I don't Simplifying male Beauty as a story I don't think is compelling And therefore I'm sorry to say that I'm Out thank you Steve Matt you want to think about the wall It's okay if I uh you can do it yes Thank you It's decision time for Matt 66 000 Pounds and a dragon backer in return for

Over a third of his company The stakes are high So will the Skin Care entrepreneur be Prepared to risk everything in a bid to Secure a more favorable deal Oh Foreign Massive value in yourself as a dragon And what you have access to Um Would you be willing to come down Slightly from 35 percent I'll tell you why This is going to lead a lot of work yeah And I will open doors for you John Lewis Online I'll try and get when we're ready Get it onto marks and Spencer's online Next online these are marketplaces That's what I'm offering too Curry just Answered he accepted your offer accepted Fantastic Okay Matt you won't regret it no date Thank you Thank you thank you guys Success for Matt who leads the den with 66 000 pounds and a dragon with the Kudos and connections to transform his Male skin care company into a beautiful Business Ecstatic with you know working with Sugar It's a lot more than what I was willing To give away however I understand his Pedigree and I know the markets he could

Open for me so I'm excited to join Forces and you know move myself into a Global market space I just love the fact That he accepted your offer and you were Still selling it to him Laughs

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