Dragons’ Den cast concerned over pitch for £60k – business now worth £2m | Personal Finance | Finance
Amy Wordsworth entered the Den in 2016 seeking an investment of £60,000 in return for a 15 percent equity stake in her company Ella Banks which is represented by her brand Good Bubble.. Good Bubble produces superfruit toiletries for children with 98 percent natural ingredients.
The entrepreneur started the business after research led her to discover there were “increasing concerns about the safety of ingredients in personal care products”.
Since launching in 2014, Good Bubble has been listed with the UK’s leading online retailer, Ocado. The entrepreneur also had interest from overseas.
A 400ml bubble bath bottle retails for £3.99, and she had sold £3,500 worth with Ocado.
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Amy said that selling this amount had “superseded her expectations”, however the Dragons’ did not agree.
Sarah Willingham thought this was “really pricy”, however Amy had feedback that it was great value for money as it is a natural, free from product.
Sarah said: “My biggest concern out of everything you’ve said is that you’ve been in Ocado since the beginning of the year and really hardly sold anything.
“I just think you’re going to need to put a lot of money behind it to compete with the big brands.
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She had previously explained that the investment for was expansion overseas, however Mr Jenkins said: “You want the money for international expansion, but you haven’t really done anything in the UK yet.
“There’s a real danger of getting massively distracted but focus is very critical. Don’t think about international expansion before you have even got if the ground. I’m out.”
Touker also could not invest as he believed the business was “too small”.
Deborah continued: “You have basically got no business here at the moment, honestly.”
Overwhelmed by the pressure Amy became “really lightheaded” but she was determined to carry on.
Deborah said: “I don’t like the branding, it’s too small.
“I am going to make you an offer for all of money for 40 percent of the business.
“It would be down to feeling comfortable that we’re pretty much going to pull the branding a part, how it looks and how it presents.”
Peter Jones could not invest as he believed there was “a lot of work to be done” with the business.
Amy happily accepted Deborah’s offer. Deborah helped to get products listed in many other stores, including Sainsbury’s in 2016 and Boots in 2018.
Dragons’ Den is available to watch on BBC iPlayer.
