The arrival of Hilary Devey heralded a record-breaking year for the BBC’s Dragons’ Den. The show is coming back for 2012 and is looking for entrepreneurs who can impress the Dragons.
Last Year’s Dragons’ Den was record breaking, attracting more viewers than ever before. New Dragon Hilary Devey arrived, arched her shoulder pads and firmly established her place amongst the revered business leaders, and some of Britain’s best entrepreneurs gained the cash they desperately needed to turn their business fortunes around. Now it’s 2012 and the Den is ready to open once again.
In the last series Hilary Devey who spotted the opportunity in Liz and Alan Colleran’s memory foam sleeping bag. Impressed with their invention she invested the £80,000 they needed to improve manufacture. Now they say their influential Dragon has helped them to pursue new markets; including arranging a meeting with Richard Branson to pitch their product to his airline. They’ve also secured a major new deal that already guarantees half the turnover they achieved last year.
To succeed, entrepreneurs ask for a cash investment in return for equity in their business. They must get at least the amount they ask for or they will walk away with nothing. The Dragons are prepared to be pitched any kind of business but they must be convinced that it requires investment and will make money. Businesses and products that have previously gained financial backing in the Den have demonstrated one or more of the following: unique selling point, scalability, clear route to market and a planned exit strategy.