I know this show has been on for a long time. I have heard people talk about this show but I have never watched it before. Maybe I just never spent this much time watching TV. I don't follow many shows or record them. I don't have a PVR or anything like that. I just watch whatever is on.
Tonight is the first time I watched Dragon's Den. It's quite interesting. There is a panel of investors also known as the Dragons. They are CEO's of their own companies and are wanting to invest their money in other businesses. Then there are the 'inventors'. They pitch their business ideas to the Dragons. The ideas could be a new idea that hasn't been marketed yet or something that has been in the market for awhile and they just need some injection of money to further their business.
On tonight's episode there was a older couple, from Vancouver, that was trying to get investors on board with their cereal product. They were an older couple which didn't seem like they have much life left. They looked kinda frumpy. Anyways, my superficial judgment aside, they presented their product and let the judges try for themselves. They had some cereal in small ziploc bags and some portions in a container with milk for the judges to try. The cereal looked like bird seed, it didn't look very tasty. The Dragons tried it and one made an offer right away. It was that good of a product. It is sold at Granville Island and I want to try some!
Another inventor was there to ask for money for her yoga clothing like. She wanted to compete with Lululemon. The Dragons asked her some financial questions. She has been in business in five years and hasn't broken even yet. She has been using her own money and family money. Her and her family have invested $750,000 into the business and it hasn't been making any money. I saw some of the items that she offered. There wasn't anything special about it. I don't think she would be able to compete with Lululemon. She didn't get any money from the Dragons.
Another investor was there to ask for money for his natural product line. All the products are made from natural products like olive oil, beeswax and cocoa. He bite one of his soaps and said if you can't eat the product, you shouldn't be using it on your skin. He used some product on one of the Dragons, of course the female one. He said the money would be used to pursue one of the marketing strategies; it is to have direct sales people and for them to sell it thru network marketing. The company has been around for 14 years and now wanting to expand their market. The Dragons liked the product and two of them made them an offer. He had to run the offer thru the president of the company, which was his wife. His wife declined the offer because it was too little for their 14 years of their blood, sweat and tears. He came back to the Dragons with a counteroffer. The Dragons didn't accept.
This is a great show to watch. I want to watch more episodes. It gives you a good idea of what ideas work and what investors are looking for.
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