Epic bidding war breaks out in the Den

I'm actually, you know, physically shaking in my hands and legs, very nervous, but Wayne thinks his wife Anna is just as stressed dealing with a complicated situation at my house in Norfolk. I have two small children and they were both just born. chicken pox so yeah she's under pressure at home right now too what are they? Do you think they are hanging pieces? Definitely really useful hanging pieces. Thank you. Leah Wayne hopes that snaring a dragon investor can get her part-time business up and running. Through the gears right now I'm still doing what software companies had five days a week, so it's a bit of a juggling act to work on this in my free time.

Hi, I'm Wayne, I'm the founder of Rehook and I'm looking for £50,000 for a 15% stake in the company rehook is the original tool that puts the chain back on your bike without the mess, it's really lightweight and attaches to the frame. your bike so it's always ready when you need it, it's very simple Use it if your chain comes off, just grab the chain that's on it, put it over the top swivel and you'll be back on your bike. I got the idea for the tool after dropping a chain on the way to a meeting and arriving late with oil stains. hands and a dirty shirt there was no effective solution on the market so I developed the product for the last two and a half years, we have made a hundred and fifty thousand pounds in revenue with approximately forty percent year-on-year growth throughout the year.

This was accomplished in my spare time in addition to working full time at the startup renovating a house and having two young children. Thanks for listening. Why don't we go up and take a look at a tool to get a sliding chain? Back on a Bike is the product that software developer Wayne Taylor hopes will hook a dragon. Can you do it without the tool now? Okay, Griese said: greasy hands. I can't do a number on that by breaking an egg. Wayne's offer to turn me in. 15% of her company in exchange for 50,000 pounds right, what can you show us?

I mean, that wouldn't stop me from going to a meeting with him. Tase Levani is the first to become familiar with the Wayne cycling apparatus, so you basically went crazy. hook that can be re-engaged and that's what's called a hook, but it's a very simple product, it's a biting finger wrench, yeah, you know, it's a specific tool for a specific job, something I've seen before where you can use to get Reattach the chain in a simple way and I mean there is no specific tool designed for this purpose so it is unique, Wayne as always worried that the reason why there is not one tool designed for this purpose is because there is a demand a person is very happy to use their finger, yes, but at the time I made that statement I remembered that you said you had had a hundred and fifty thousand pounds of sales in two and a half years , yes, which actually doesn't fit well with the statement.

In fact, I had the same point of view when I started. I thought, "This is a real thing, but now it's gotten to a point where it needs to be taken more seriously. I think Theo Paphitis backs off when he notices the businessman's impressive sales." The numbers mean it might be wise to reserve judgment on his product. Peter Jones now wanted to know about Wayne's work commitments that keep the bicycle business a side business. Wayne, what does he do? What is his job? That's why he works in software companies, he is a technology manager. Officer, what does he normally earn?

I have sixty-two thousand five hundred pounds at the moment. Do you think he will make enough money from this to have a career or a business? Do you have any other ideas that he's going to win? grow, I have other ideas to contribute to resume and expand the range of products, what are his other ideas? Something more exciting than this, so we have a performance cycle in products that you would like to introduce for time trial cyclists, that sounds like a very small niche opportunity, well I mean the number of time trialists is increasing enormously, so What were your sales last year?

I have eighty thousand pounds in income, eighty thousand pounds, yes, it's good on your net profit. Last year's net profit was twenty thousand pounds, so what do you expect to make this year and this year make one hundred and sixty thousand and, based on the growth rates that we have seen, we are looking at a revenue of one million pounds over the next? three years, which is half a million pounds in year three, the businessman's bold projections about the growth of his business have piqued the interest of the five dragons. Sarah Davies is next to roast a Gadgeteer.

What impresses me is when you sin with minimal effort because you're doing this around a busy family life and a job where you've made £80,000 of last year's sales £20,000 of profits, that's it to me, you're proving that there is a concept. I want to make you an offer, but it's nothing like what you came here to ask for because I'm sitting here and you're thinking I don't know if this guy should even quit his job, so I think I've reached a compromise, okay, which I would like to. What I propose is that you go down to only three days a week so that your income continues to increase and I will put the 50,000 into the business, but not to pay your salary because you are going to continue working, okay?

All risk here so that's why I would want half the business with you, however if you can fix me my money in 12 months which should be really easy I would leave my program keeping 30%. Sara Davies becomes the protagonist. broker in the race by submitting an offer, but unusually wants the businessman to continue working to provide an element of stability within the deal before Theo Paphitis manually replaced a chain with a minimum of mess which caused him to curb the opportunity to invest Wayne, I'm not Agree with Sara. I think the way she made you the offer is like you're playing this, you work part time.

I think anyone who goes out and creates something that replaces a dirty finger and then sells a hundred something. The value of fifty thousand pounds has convinced me that I can put it in 300 outlets overnight, but my opinion is that I want you to package what you are doing because the value for me is not just this, the value is you, so I'll give you fifty thousand pounds in return, even though I want 40% of the business, okay Wayne, you just got two horrible offers and if I were there I'd feel pretty disrespected. I think you are incredibly suitable for investing and I am going to offer you everything. money and no buyback options without stealing almost your entire company.

I will offer you all the money for 30%. Okay, it's a deal. Don't feel pressured. Peter Jones undermines his fellow dragons and offers Wayne better terms for his. tej cycle products business Levani is now ready to give his opinion on the Wayne tightening tool, you made a great impression and I think there is a lot you can do with this in terms of growing this product. I think internationally you're just scratching the surface that we can sell in 70 countries China India all over the world what's beautiful about it is so simple so I'll do it all for two well my offer is £50,000 for 25% for the business, so Wayne, this is a really good product, looks good.

I love the brand, it clearly has a lot about it. People buy it without enough exposure, so you won't be surprised if they make you an offer. I'll offer you all the money I want. 25%. business, the entrepreneur's product has sparked a chain reaction of offers from the five dragons who are now competing to get their claws into a strange deal before going and talking to the wall, okay, I'd like to work with you, but I'm I realize my offers. It is no longer the best offer on the table. I maintain that I want to control the stake in your business until I get paid, but I would be willing to go down to 25% in the long run.

I have done exactly what you have done. The journey is exactly the journey they are about to begin and the differences I did it in the craft market, you are about to do it in the cycling market, which is a bigger market and a bigger opportunity. This is a bit boring now, Wayne, would you like to think first? you get bombarded with Wayne, go to the back, have a chat with yourself and reflect before you do it that way, the only person who has the right layout is me, that's not true, of course, we'll put it in the camera store , Wayne, wait, God.

I think there's so much noise, why don't you go back? It's a little calmer. Thank you, thank you all, after some Dragon RG. Bajji Wayne has five offers to ponder. Sarah Davies will be suing her for 50% of the company. Once she gets the money back, Theo Paphitis offers to place the product in his three hundred points of sale, but he wants 40% in exchange. Peter Jones wants a stake of less than 30%. Debra Medan before Levani both seek 25 percent of the business, but the five. of the offers ask for more than the 15% that Wayne is willing to give away, so I'm absolutely overwhelmed by everyone's responses, Anya and her offers, but I think Deborah liked it.

I really want to do it. Really, oh, I am. very excited, well done, yeah, well done, thank you so much, pizza, yeah, I'm not even going to say well done, Dee. I mean, I thought you were brilliant, but obviously with that decision making asking on your bike after a full five offers, Deborah. Medan has the trump card and closes the deal. The cycling device entrepreneur is setting off into the sunset with a £50,000 investment in his business, an enchanted dragon behind him and an exciting future ahead. I can't believe five five offers, it's great to get that. justification that serious investors believe in that song, yes it's an amazing feeling, you all smile.

In fact, I was very happy, very well done, but it's just a plastic finger and now the real business begins for Wayne who returns home to two children with chickenpox. I just can not. wait to contact my wife, she is actually in quarantine, she was my son's and that's how it will be, very happy.