Dragons’ Den investor emotional as pitchers decline ‘lifeline’ – ‘Massive respect’

Dragons Den winners: The original and the best

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Phillip and Lakshmy Pengelly entered the Den in 2020 seeking a £10,000 investment for 10 percent equity stake in their business, Flip Top. The entrepreneurs created Flip Top after owning their own care home for four years.

ThTheir care home looks after individuals with dementia, however, they discovered the overarm chair supplied “isn’t good enough”, and thus they decided to create their own.

Flip Top was manufactured for $79 per unit in Sri Lanka.

However the lead times were “long and unreliable” which prevented them from going to market.

They wanted investment from a Dragon, as well as their connections into the manufacturing industry.

Mr Pengelly explained he had visited three care homes local to him, to find out if they would be interested in purchasing his Flip Top over the conventional ‘trolly tables’ currently available in care homes.

He said he got a fantastic response, with them all wanting to place orders.

So far, the couple had invested £25,000 of their own money into the business.

Touker Suleyman appreciated how “passionate” the couple were about their business and said he could help with the manufacturing.

He explained he had a team in China who could possibly get the manufacturing costs to under $20.

He said: “If you want me involved, there is a price.

“I will make you an offer for all the money, but I want 35 percent.

“And I will give you that lifeline, it is a lifeline.”

Sara Davies could “massively respect” their passion and ambition.

She made the pair an offer for all of the money, for 25 percent of the business.

She continued: “I will add a ton of value.

“I will make this business happen overnight and help you take it to new levels.”

By the end of their pitch, the entrepreneurs decided they would go with Sara’s offer.

Peter Jones said he could not invest as he could not see the idea turning into a business.

Deborah Meaden said she did not think she could add value to their business so she did not invest either.

Tej Lalvani thought their real issue was the price, and getting the costs down.

He thought it was a nice idea, however he said he could not invest.

The episode aired in April 2020, however the show is currently airing a new ‘where are they now’ series.

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