I agree here we go now it does I mean Uh well the business could be we think It's going to be huge so we're going to Put everything into it And hopefully it's going to stop us Building and uh get off the tools yeah Get off the tools put the tools away Surprisingly I'm not feeling very Nervous at the moment uh might change When those when those lift doors open But for now confidence in the product Confidence in our ourselves That's nervous but yeah got polymer with Me so I should be all right [Music] Hello my name is Pelham Vincent and I'm David Hall we're here to offer you 10 of Our business for smart Limited in Exchange for 150 000 pounds Is that it No sorry The flat pack Furniture industry is Worth 24 billion pounds alone in the UK The major problem being the fact of Self-assembly We have a painting pending on the Products and today we're going to show You how we can fully assemble a fully Working wardrobe in under two minutes Without the need for any tools or Fixings With this we plan to revolutionize the Flat pack Furniture industry [Music]
It's got a second hand on their watch Two minutes Go the clock's ticking and the heat is On for the flat pack entrepreneurs The Carpenters from Reading are looking To assemble a deal with a dragon for a Hundred and fifty thousand pounds So next time we have the drawers they Unfold And then they're held in place and Square With the base panel Foreign [Music] Loaded mechanism There's your fold rope With the construction boxed off To casullyman is Keen to give their Handiwork the once over [Music] So all the items here Are all flat pack including the bed And and the bed as well yeah everything You do the whole lot in under 10 minutes Let's go to bed What happened there you broke the bed Yeah oh sorry Um I guess don't worry That looks dangerous well this is looks Dangerous if you have a slight issue Here we left one of supports oh really Oh wait because these are the initial Only prototypes we have sure about that Yes and there's you I can show you the
Brackets where there's a missing support I tell you what That's only one of me I'd like to be two Of us in a bed like that but I mean I Guess Would you be doing gymnastics Not the big break the entrepreneurs were Hoping for Not everyone is feeling so pessimistic That to me is actually really Self-explanatory really neat you can Concertina it out and yeah Sarah Willingham can also see the logic Behind the idea Guys I must admit I think that's a great Idea I really do and you have definitely Identified a problem flat pack Furniture Is an absolute nightmare I can never Understand the instructions I hate it And actually I end up paying people like You guys to come in and do it so I Completely get where you're coming from How much of a problem do you think the Assembly thing is one of the limitations Of this is that for the sake of saving Yourself a little bit of time on the Assembly what you compromise to some Extent is uh is on the aesthetic so for Example there's a line down the middle Of that bed there which I assume is part Of your design we've got a single Laminated sheets that can go across it Okay they will fold so it will look like One whole piece but these are the first
Prototypes that we have and our USP is Basically this phone it's going to be Pop taken down so for say landlords or Students who move a lot so all of this Can be bought you know roughly the same Cost as your General Flat pack but I Don't know if you've ever tried taking Down a flat pack before and then putting It up again it's nearly impossible I Will definitely take your point on the Taking down so I think for the land for The landlord Market there's there's um So then they can that's definitely a big Advantage um furnished and unfurnished Okay Kellum and David have managed to salvage A shaky start and prove they have a Definite USP But Peter Jones has been doing the maths And something doesn't add up you're Valuing a little design and some hinges At one and a half million pounds Yeah Where the flat pack industry UK alone 24 Billion pounds a year Who who told you that Research So just in perspective in the UK 24 billion is spent on flat pack Furniture yeah I don't believe it nor do I it's 500 Pounds per head of population don't Believe it we did where did that come From
Is that [Music] That would mean virtually every person In this country Would have to spend five or six hundred Pounds On flat pack Furniture that's just not Possible Might include kitchens as well kitchens Flat back kitchens I'm more concerned Before you see this I think it's quite Neat and I could spend the next 20 Minutes talking to you about it but You've instantly got my back up by Coming in thinking that you can Value something like this whilst it Might be a good design and you Demonstrated it quite nicely At one and a half million pounds it's I I don't It's bizarre If I gave you one and a half million Pounds to walk away from this idea today Would you Wow Peter Jones's interrogation of the Company valuation reveals their 1.5 Million pound price tag is based on a Figure plucked from the internet And now Nick Jenkins has concerns over What the duo would bring to the Investment party How do you how do you expect to get this Distributed
That's why we're here Yeah we're on a construction company at The moment and Dave's a site manager Carpenter for both Carpenters by trade Right what we know about we don't know About retail distribution we're learning As we go that's why we're here to Get that kind of Kickstart if you like But one of my concerns about your value So when people often come up with an Idea it's worth the opportunity But I didn't think you have the Experience to be able to turn this into A business which means that anybody Coming in would probably have to add the Experience that would turn this into Reality now that's probably why he's Coming over here because the valuation That you're looking at is is is is is One that belongs to a business where You're coming with all that experience Uh packaged up so it's too Punchy for me For that reason I'm out okay thanks Anyway thank you very much Guys I hate to say this it does look Like College students uh yeah that's what it Is okay but what I'm trying to say to You is that unless you've got a very big Price Advantage you could be Ikea their Own game I'd say guys you've got a Problem and for that I'm not even going To waste my time an evaluation of 1.5 Million
Happy keep on dreaming because I'm not Going to make your dreams come true I'm Out It's turning into the stuff of Nightmares as Tuka Suleiman and Nick Jenkins fold on the deal Overvalued companies rarely get an easy Time in the den Can Deborah meaden find another route to Investment First of all I think you're getting a Pretty hard time Um I your valuation is Bracy I put that down to business naivety you Don't actually you haven't claimed a Stand in front of us as business people You've claimed to stand in front of us As inventors who have come up with Something and you want help with a way To get back to the market So for me the whole thing lies in the Value of the patent so what I want to do Is look at the patentable step in this And why it's so important and is it easy To circumnavigate I'm guessing it's that Folding it's the folding mechanism isn't It it's the flipping this one up So you see how the shelves into equal Size yes it says the top yeah that's the Bit of this pattern so equal length Spacings that allow the unit to fold Completely flat okay you will not get a Patent on two pieces of wood of equal
Size that fold so all I know is Obviously we don't know about patterns We run to the attorneys they've they Know what the idea is they've done there What they think it is so Okay do you know I hate to be boring I'm Going to look at the patent Because it's not making any sense to me At all [Music] Guys I worry for you If you had a properly patentable step Your first job is to go out there and License it problem is you are not going To get a packed And that means you can't license And if you're not careful you will have Spent 10 15. I've watched people spend 30 40 000 pound on a patent and not get There I don't want that to happen to you You've invented something that's really Very good here but you are not going to Get a patent on it I I'm sorry there's nothing in there That I think I can even leverage for you So I'm out I know from Deborah meaden as she deemed The entrepreneur's patent application About as robust as their incomplete bed Does Sarah Willingham still see the Product as the answer to her flat pack Prayers I Wholeheartedly agree with everything
That's been said I don't think you're going to change the Market and and I also agree with Deborah I think your valuation was genuine Naivety I don't think you came in here To wind us up I really don't Look I think you've got a lovely idea And I think you can make a good living Out of it but I don't think it's Investable so for those Reasons I'm Afraid I'm out Sarah Willingham deconstructs the Investment opportunity in less than 30 Seconds And now Peter Jones is feeling unusually Got at Guys just to clarify I don't know where This thing about wind up and valuations Come from I was very very clear very Specific to you asking a question about Why you valued this company 1.5 million Pounds And I don't think it's good enough to Just excuse you as naivety and the Reason why I'm giving you a hard time About this valuation is because I think That's your fatal error Foreign Have come in and said fifty thousand Fifty percent of the company I don't Know whether I've got something here's a Pattern and if you could introduce us to Some of the people at Ikea or Wix there Might be some money in this but we don't
Know because we're not business people I think you might have had a very Different response personally So Sadly I'm gonna say I'm out But if you ever go to somebody again for Investment be more realistic and know Your numbers Solid advice but sadly too late for Pelham and David They put that wardrobe together in under Two minutes yeah so I was dead excited When they first started doing it but They've got nothing to sell they've got No distribution no manufacturing no pain Nothing yeah just a dream Foreign First to try their luck tonight our Siblings Ben and Harry Tucker from Somerset I'm the older brother I'm two Years older we're a bit like talking Cheese but that works really well Yeah I'd like to think They're brimming with confidence about Their range of repurposed products I Think it'll be a bit of a wow factor With the chair because it's immense We're hoping to put a smile on their Face that's kind of what we like to do About products Foreign And I'm Harry we are both brothers Business partners and founders of plane Industries
We're here today asked for 80 000 pounds In exchange for 10 of our business At plane we take old scrap materials From aircraft and turn them into luxury Furniture stationery and Luggage each Piece has a fascinating backstory Attached to it and for us it's about Challenging and redefining our Perceptions of the thing we things we Throw away We make some pretty wacky stuff we have Some bombs into drinks cabinets exhaust Nozzles into giant lamps and even Windows into clocks here's an example of Our chair this is made from engine Calvin aircraft and this retails for 19 000 pounds We started four years ago on a farming Wheelchair with about three thousand Pounds our back pocket we now have five Members of staff and we have turned over Almost half a million pounds since 2013. The story is attached to each and every Item are the most important thing about What we do We set up a Spoke Furniture to very Wealthy clients around the world we now Want to scale the business so we Currently are making luxury luggage from The discarded seating fabric coming in At a much more accessible price point Soon we're about to launch our Stationery and homeware range that's Casting the fuselage of all different
Types of aircraft We'd love for you to join us on our Journey Is it possible to have a look at some of The things by all means and if you'd Like to take a seat in the chair um feel Free let's have a look at that yeah it's A Top Flight pitch from Ben and Harry Tucker who are asking for 80 000 pounds For a 10 share of their plane Parts Upcycling business do you know what I Can't resist getting in are you ready Guys if you'd like to all go and sit Down we'll we'll just stay here for the Rest get ready for takeoff no And once everyone's feet are firmly back On the ground it's Taj lauvani who's First in the pilot seat I actually love Aviation as a kid I've Always traveled on airplanes and just Enjoyed the whole experience Um what do the numbers look like over The last three years in year one we Turned over 24 000 pounds and we made a Loss of 8 000 pounds year two we had a Turnover of 107 000 pounds and eleven Thousand pound net profit Year three Um we turned over 85 000 pounds and we Made a loss of 14 000 pounds and in the Last Financial year we've had a total Turnover of 250 000 pounds with a net That's expected in 60 to 70. Um so just what was the reason for them
For the drop so it was every time we had A drop it was generally when we kind of Went back and designed the new product Lines and we spent a huge amount of time Trying to figure out how everything can Be scaled Um how do you Source your materials and Your base products then when we had the Idea we went and met up at a big Aircraft dismantling yard and they break On average about 55 to 60 aircraft a Year and they also settle the parts so That's where we get our parts from so They break them and you've come along And said oh I'll have these these this Bit in this yeah yeah that's how it Started and the reason why we we're Doing the luggage is because the seating Fabric is a quite a big problem in the Industry to get rid of because it's fire Retardant so loads and loads of it Unfortunately goes to landfill so the Company we're working with they'll ship It to us all through a charge [Music] This is some examples of the bags the Brothers have revealed strong upcycling Credentials and now eco-conscious Deborah meaden is Keen to find out more About their business model Where are you finding your customers so Premiere is all online and what we find Is every time we launch what we call Kind of a Halo product which we try and
Do once a year it kind of booms online And then we kind of get a lot of organic Traffic so they come in VIA that product Yes and then they end up buying into the Whole story yes and how long does that Take you to build So they take about Um four months How much does that cost you to make About seven thousand Pounds including Our time that's good Deborah meaden is impressed that their First class products come with economy Costs Can their run as Den High Flyers Continue under Peter Jones's questioning You've got your hero product and you can See that you know Deborah and I liked it Not just the aesthetic look we enjoyed Being in there actually I think if we Were honest with each other Um Do you want to challenge that I don't Actually no I have to go along with it Um but I have a genuine issue with the Quality of the bag [Music] Okay I think it's really substandard and Quite poor quality You've started to introduce products That aren't good enough I'd have to argue with regards to Quality the actual feel and touch of it
Because we test them for a year in there You do but I even feel that the zip it Just feel it doesn't and then you've got The story inside yeah yeah feet in the Air you've just put 36 000 yeah What does that mean What means that during its lifespan it Would have traveled at 36 000 feet but It might have traveled at 37. yeah no so That's something that we're also still Working on is kind of we appreciate that The really important part about this is Is the storytelling my very point is That you haven't given the story And it does look like a 1960s British Midland aircraft cover but the reason Why I've actually used that Fab to start With because we thought let's use the Worst looking fabric we could possibly Take off any of the aircraft and see if We could turn it into a beautiful Product well I think that's good because You definitely failed Okay guys What are you doing I think you will struggle with bags good Bags okay and if you're relying on the Bag business I think you're gonna have a problem The reason why we did the buyers is Mainly because there's so much material And there's such a problem there we kind Of thought what could we do with this Problem and that kind of led us down the
Route of the bags but the problem you're Trying to solve is going to take your Business backwards I I would have thought you're better off Doing amazing product and charging Double yeah because the person wants to Buy that would pay 50 000 if they really Want to buy it I love the hero products I know that There's big potential on furniture Your business at the moment It's small Yeah I mean you've got a great product but It's going to take a lot of time Yeah it's not quick And for that reason I'm out Tuka Suleiman is the first dragon out Rejecting a deal over concerns about the Entrepreneur's business strategy And now plain Enthusiast tej lalvani has Some concerns about whether the pair's Designs are truly Top Flight You guys are very creative and you Created some nice products but actually The Home Furnishings you've got there You can't really tell it's from an Airplane or Aviation related If I'm paying a premium to get those Items I wanted to be able to say What It Is Well that's where the branding comes In so kind of when you open it up you'll Kind of find all the information about
What it used to be but even on that There's no logo on on the item on top There will be that's just the Prototype It's very hard to get those details in The very first prototype but that should Have been your primary purpose whatever You're designing should directly tell You like obviously you can't absolutely Miss that you know straight away it's From an airplane an engine but those Small items I think that it's just You're spending all that time doing it And creating it and it doesn't visually Tell you it's from an aircraft Um sadly it's not something for me so I'm out okay thank you Thank you to me it's wonderful now it's Now is provenance on it somewhere Because I know you keep saying can do We're doing that we're developing this And so on and so forth so I'm Disappointed where you're at in four Years there's too much that you're still Thinking about and to come in here and Say your business is worth eight hundred Thousand is poppycop at this stage So I'm out Two more dragons exit the deal in quick Succession both unhappy that the stories Of the plain part products are not Clearly on display [Music] Will Deborah meaden get on board with The aircraft reclaimers
You won't be surprised to hear that Everything you're doing I absolutely Love because I like the sentiment behind It I get the sense that you really care About it as well and I absolutely love That That could lead to an investment from me My thing is I urge you to focus on that We didn't plow all our efforts into that Because we knew that we wanted to Diversify and that's why we've been Working on this line since uh September Last year so if this continues to grow And we get continuous orders that's fine But I put more time into it because your Business is telling you something and You need to listen to it your business Is telling you that's where the money is But I don't personally think that this Business is going to get huge I won't be investing thank you for your Time thank you Despite connecting with Ben and Harry's Business ethos Deborah meaden does not See enough financial potential to invest And now only Peter Jones remains to Salvage the siblings pitch typically how Long would that take to put together About an hour but I'd say yeah a couple Few hours [Music] Well Harry and Ben yep I'm going to make you an offer
Okay I'm gonna offer you ten thousand pounds For that so you don't have to take it Home with you Yeah [Laughter] That's going to uh Holland but we're Happy to make you one So is that a deal you're accepting well How's it going well we work on a 50 Margin it literally costs us well it Cost us seven doesn't it just over 50 But we sell them for 19 and we'll make It bespoke as well as the color you want The interior you want engraved with his Name on the top do you want it Okay done okay sorry Thank you very much And then guys um I think that for me Sums up what I believe and see in the Business I love the product obviously That's why I've offered to buy one But I don't believe in the in the Business Direction you're going in And that's the only reason why I'm out So Peter Jones has shaken hands on a Sale What color you're having Peter that's Lovely I quite like that nice make sure You have your name the aircraft the Whole thing The brothers have acquired a dragon Client but they leave without Landing The deal they were hoping for
It's going to mix the motions and There's some really valid points there As well that we'll take on board yeah we Sold a chatter pizza so that's cool For another money making invention and Peter Ashley thinks he's got the next Big thing he needs an investment of 75 000 pounds Hello My name is Peter Ashley I'm I'm here Today to ask for 75 000 pounds to start A new business called easyxshare.com in Return I will give you 15 Equity over Three years Now the free weight resistance machines Are still the most popular form of Exercising that you have at this moment Together with the bikes and the running Machines and so forth the only problem With these Fitness machines they're very Large and people that buy them don't Know where to put them So there was a need for a new type of Exercise machine that will give you a Full body workout that doesn't need to Be folded up doesn't be put away into a Into a cupboard or under the bed So I have invented the multi-gem Exercise machine and Um This is it Looks like an ordinary chair It is an ordinary chair But within the bowels of this chair
There is a multi-gym Multi-purpose free weight resistance Machine and um these are all of the Exercises that it does The same as a as a huge seven foot Multi-gym exercise machine but in the Shape of a chair it's difficult to Believe Not owning this not only in that not Only have we got the the armchair But we have An office chair Which does exactly the same thing So that's it really Peter Ashley is asking for 75 000 pounds And is willing to give away a 15 stake In easyx chair his unique multi-gym System hidden inside an armchair would You like me show you it yeah absolutely Yeah yeah oh you want to you okay hold On a minute let me just show you what I'm going to do first of all don't sit On it yet no no no not yet Now this is a normal height so for Exercising it needs to um Go up to exercise Heights yep Now watch this watching um This is the exercise bike if you'd like To sit yourself down there sir thank you Prepare yourself for this okay take a Deep breath in thank you that's it but You can alter the pressure on it that's It you're doing very well that's it yeah That's that's to to keep warmed up right
Yeah it doesn't work because those at The same time okay calm yourself down I'll put the bike away If you'd like to see yourself yeah upon This seat That's the that's the bench press yeah Right if you raise your hands up a bit More that's right then you're doing your Pectorals okay yeah what was it done Before Um your other pictures okay that's fine That's super okay but that's not all It's not all oh okay Um If you'd like to hold on to this okay And step on there that's the idea now It's a walking machine not a running Machine Okay You're fighting the life out of me Are you okay you're like two old coaches Two old coaches in their living room Trying to get a fit It is it's the old gifts Two old kids It's a great start for Peter with all Five dragons enjoying his demonstration But Peter Jones wants to get back to Business Um hello I'm Peter nice to see you very Good to watch thank you um reminds me Will you remind me of Q from James Bond Really Um are you okay don't worry about it
Don't worry about him worry about Whether you're going to get an Investment or not today Um where it went wrong for me was Because I think that this type of thing It doesn't doesn't look that good okay I've got two nice ones which which are The scroll type of thing you know the They have the um the Scrolls in the Front like the ordinary armchairs and That looks nice peter the whole concept I think is great because it's a little Bit of fun but this is not a business And I'm gonna have to declare myself out Peter Jones Is unimpressed by the easy X Chair and he's out Health Club Mogul Duncan bannatyne knows the exercise Market inside out and wants to Interrogate Peter further Tell me about this business How much does it cost to make the whole Thing 166 pound 166 pounds what do you Think your retail out 500 pounds Now that combines a chair with these Fitness machines so you've got you've Got two in one what's this somebody else Copying your idea well I've got a patent I've got um a full British patent python For what for the mechanism for the for The whole concept the concept of a Multi-gym machine in a chair I don't Think to be honest you needed to paint It sorry I got it I don't think you Needed to patent it oh come on come on I
Spent hours doing this and you're afraid Peter can I no Peter can I ask you ask You a question who's going to buy that Chair well people who want to be fit Go to a gym sorry people who want to be Fit generally seriously want to be fit Go to a gym people that go to fitness Centers like yourself they are normally Between the ages of 16 and 30. after Which the the they they they dwindle Down no they don't drizzle down no no But after 35 Peter can I just I've asked you who will Use this not who won't use it so who Will use this chair Um the main target will be between 35 or Upwards and why would they use that Chair to keep fit now The market is driven by two things in The fitness industry at the moment the UK Market is 102 million right in the Fitness I'm asking for one percent okay now the American Market is 50 uh Peter that is absolutely Pie in the Sky Okay and you can quote as many numbers On the fitness Market but if you think You're going to dent a portion of that Market with that please wake up it is Not going to happen so I'm afraid I'm Out Peter has failed to convince Deborah Meaden as a market for his invention and She's out
Duncan bannatyne has also come to a Decision This is quite ridiculous Peter I'm sorry But this is just not going to sell And I think you should give up have some Fun you're obviously enjoying life But you haven't got a business and so I'm not going to invest in other people So I'm over Duncan bannatyne is the Third Dragon out And Peter's hoped for investment are Slipping away now he can only hope that Theo perfetus or Richard Farley will Invest the 75 000 pounds he needs I'm just trying to be as open-minded as Possible I really am because the Craziest thing so Uh but on this one It's just too much of an uphill battle You know I mean you're a lovely Man You're A really lovely man and uh I'd Love to work with you but not on this so I'm out Peter I'm going to leave you with a Thought And that is concept not bad Execution lousy and how to amount thanks Thank you for your time I appreciate Your thoughts and I will contemplate on That boy bye be there bye It's all over for Peter in the end he Simply couldn't persuade the dragons That his armchair multi-gym was a Serious investment
Foreign Peter did that go better or worse than You were expecting Um I don't think they appreciated the Concept of the whole thing But you know if that's their opinion Then I I respect it just as you unveiled It obviously It almost looked ridiculous it was more Like a giggle than a exactly a serious Product it's the same as any invention It's like television people said hey you Know nobody's going to watch the Television no I like to listen to the Radio you take it's going to be another Television oh I didn't say yeah but it Could be another Concept in the exercise You're going to take it Forward oh yes I've got to we'll see it on the market I Hope so good luck many thanks [Applause] [Music] [Laughter]
