Two Bosses agreed to buy a 30 percent equity stake in Fredericton-based J Custom after a lively few minutes of on-air and off-air negotiations on the show that aired Thursday night on Tv.
MR J and his partner Miss E started by making their pitch on show. They asked for a $100,000 investment for a 10 percent equity stake in the business, which sells custom-designed shirts online and at a retail location in downtown Fredericton.
“I bet, actually I know that every single person in this room would love it if everytime they walked out of their house they were walking under a waterfall of compliments,” Alpaugh said as a parade of men walked into the den wearing J Custom shirts.
Mr M, the co-founder of the company, one of Canada’s top daily deal sites, made her decision to invest based on her favourable impression of Alpaugh.
“I think that businesses are 99 percent founder and one percent, investor. I can see you have driven all of this…” said Romanov, acknowledging Boychuk’s role as well.
“I think I know the online space really well. And I’ve actually started a business with my significant other, so I know exactly what that is like and how much work that is. I want to bet on you guys as a team.
“That being said, there is a lot of work for me to do to help you here. So I would need a pretty significant equity chunk to do that. I would need 40 percent.”
At this point, MR M said he wanted in on the deal too. Wekerle is a commercial real estate developer and owner of the El, an iconic live music venue in downtown Toronto that he is transforming it into a state-of-the-art entertainment, recording and production studio.
He wanted a 15 percent royalty on all purchases and $100,000 worth of shirts he seemed to want as merchandise for the El Macombo.
Mr A then said he’d like both to join them in the business.
“I’m just hoping there’s a way you can collaborate because I will say I do think we need massive help with the online,” said Mr A.
Romanov turned to Mr W and said, “Let’s figure it out,” and the pair disappeared offstage.
They huddled in a backroom for a minute and then came back. “We have built a custom-deal for you,” she said.
“We would need a 30 percent equity stake, and we would take a 10 percent royalty on the shirts. It would also come with a $50,000 order for the shirts for the El right away.”
Mr A accepted their offer without hesitation.
“We are confident enough to know that we are going to build this thing so it’s going to be great,” he said. “And we are going to catch that wave, and the wave is now. We are humble enough to know that your guys’ guidance and mentorship is going to bring us there. So thank you guys so much, let’s do this.”
It’s now over 10 years since the first episode of show aired on British TV screens and in that time we’ve seen some brilliant, and not so brilliant, businesses pass through the Den.
While many of the start-ups which have appeared on the TV show have since floundered or failed to gain traction, a number have gone on to achieve huge success – with and without the Dragons’ backing.
This month, it was revealed that entrepreneurs J and TL will be replacing NJ and restaurateur Sarah for the new series. joinin veterans Miss D, PJ, and TS.
In light of the 15th series return, we’ve delved into the Den archives to find out what has happened to 16 of the brightest businesses to have pitched to the masters and where they are now.
From the popular Levi Roots to the £65m-valued Tangle Teezer dubbed “hair-brained” by PJ, click the red button to find out just what happened once the Den’s cameras stopped rolling, and discover a few highlights below…
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