"Do You Understand What Gross Profit Is?" | Dragons' Den
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- čas přidán 7. 04. 2024
- Chris and Forest are seeking 45,000 for 12% of their product Fixits.
Season 20, Episode 10.
An international sensation, Dragon's Den features entrepreneurs pitching for investment in the Den from our Dragons, five venture capitalists willing to invest their own money in exchange for equity.
#DragonsDen #BusinessPitch #Fixit - Zábava
Honestly. If i was going onto dragons den i would watch so many episodes write down every single question asked and have an answer ready
Honestly?
@@stuartball913honestly is the best policy
That requires work and humility
No way bro
Yep, and they’ll still ask you something you didn’t think of 😂
Steven 🧠: Can I sell this on Tik Tok?
Steven 💡: I'm in
Can't blame him at all but god it's boring
@@hubbzyxand then he proceeds to bully Touca
@@Private722shut up and cry
@@Private722lol, yes exactly
@@Private722oh give off touka is the bully in the den
I miss the indepth questioning like in the past, which was always interesting and educational. They would question the durability of the product ( how sturdy is it, does it get affected by sunlight), practlcality ( once used, how to get it seperated from the broken product? Not all products can be put in hot water), the convenience of it vs alternatives (dependable of hot water, time to melt it, mold it, harden it), the protectibility (can you protect this product?), etc etc.
It wasn't even worth getting to that stage imo. They clearly aren't making money and while it's possible to imagine some uses, it doesn't seem like a very useful product.
You need to watch the full programme for that
Well question one shows it’s not protectable. It’s not a new material it’s just a new use they’ve identified.
They still do it but trim it down for TV, so like the best moments.
Now it's just "is it instagrammable"
This feels like a early 2000s product
It is!
Polymorph plastic.. had it years ago. Nothing new here
Mighty Putty.....Billy Mays
Sugru? Or something like that. Except that once it was cured there was no turning back,which is what you want.
I had sugru but they didn't say we could re mold it with hot water so I had to throw mine away
They aren't inventors. The product already exists. Sugru. Sold in hardware stores.
My first thought, not sure when this first aired but sugru has been around for ages now.
Yes and No. Sugru comes malleable in an air-tight package, hardens in air and can't be re-used.
This is hot water/heat soluble.
These would be perfect for holding up a Flow Signal
Hahaha. Well done.
"The hotter the temperature, the softer it becomes." Wow, such wisdom.
So u can't wash it or leave it in the sun...
It's the opposite for me though! LOL
Not if it was an egg
Logic doesn't apply then does it
Just don't fix the wheels of your car with it and then go for a drive on a sunny day 😂
"It's straight until it gets hot 😜"
The whole time watching this I’ve been trying to think of a practical use for this stuff. They didn’t give a single specific example of what you could “fix” with it
same it is literally useless to me
They did show some images, but not a lot.
They showed it being used for fixing glasses, which I'm not convinced by. That would only ever be a very temporary fix. I wouldn't spend £3 on a temporary fix that could be done with tape for pennies. I can't see anything that this would repair well enough to justify the price they are selling it at.
@@thomasdalton1508they also showed it on keys, but like thats not fixing it? You dont need a rubber holder for your key, so like… wut?
@@winonarose7488 To make the key easier to grip? Or to make it easier to identify? It would really help if they gave us a clue...
I miss the times when Steven was actually respectful to the fellow dragons. Which was like, one episode with him, maybe two at best. Imagine being this cocky because you run a podcast, a web3 scam, a tiktok account, and are younger than the other dragons. Christ.
Hes a fraud. He lied about social chain and built a whole career on it
@@markmccorrie3905 he started "a web3 company", what else is there to know about him? web3 is a buzzword with no technical definition, incompatible with real world.
How did he lie@@markmccorrie3905
@@markmccorrie3905 Yep. It merged with a much bigger company, and then the new entity kept the name of Stephens Company and later sold for hundreds of million. His company was worth less than 10 million when it merged, which is still a remarkable achievement, but a way off his claims.
Diversity quota.
Isn't this just polymorph plastic? Already sold by many companies.
Yes I was using this 20 years ago lol, the only difference is it comes in little beads and not coloured strips.
@@DiamondCake2 so they invented colour and strips :-) ( I have it too and had it for over 25 years )
Sugru has been around since 2009
My thoughts exactly
It's been more used in production by businesses, it's not been put into a form for the mass consumer market before.
I use Sugru all the time and I thought of it too.
This is more like polymorph though and i started using that back in early 2000s. There are countless polymers like this which can be heated and reformed.
before surge it was used in universities and by inventors and product specialists ..
I always love when a deal goes through and Debs giggles w/excitement during the closing! 😉🎉
Update: their accounts for 2023 showed an overall debt of almost £100,000 (credits for £143,000 and assets amounting to £45,000)
What was the ltd? I couldnt find it. Their website doesnt have it
The company is called FIX-ITS (LONDON) LIMITED
I thought Steven Bartlett was supposed to be able to sell anything, like isn't TikTok his domain and drop shipping?
I suppose he doesn't know it all. Just got lucky once or twice. But even a broken clock is right twice a day 😎
Sure, dude. Luck. If it makes you feel better about yourself. @@sigma_z
@@SirLawrenceBarrisclaw probably now called F*K-IT
"3 dragons down"... amazing band... love their song Krypronite...
Any brand that focuses primarily on “building the story”, I have doubts about. If a chip tastes good, I buy it. I don’t buy it because of a paragraph about their story and values on the chip bag..
Something draws you to trying the chip in the first place. You might not think these things matter but you're unconsciously affected.
@@1337murk ok Don Draper
@@1337murkYeah, it’s packaging and word of mouth. If I pick something new up, it’s what I’m looking for and it’s presented well then I MIGHT buy it. If it’s presented well and recommended by a friend, I’ll definitely buy it at least once.
I’ve been eating Cadburys chocolate for years, and the only thing I could tell you about their history is the founders descendant was in an episode of Dragons Den.
@@Kobeemalonee You think you're above the influence of their marketing but you're not.
@@1337murkSure but a lot of people do not even read the story. Or care.
Sooo they re-discovered sugru?
so many competitors in this space , seems like a hobby product not mainstream
There was something similar on a tv advert about 20- 25 years back…
Ok, grandad. 👴
"Back in my day" ahh coment 😂@@Trigger_000
Sugru?
What is the industry adhesive used, do you know? I'm a little curious.
Polymorph
If it's wet when it's soft you can't really use it on electric appliances.
Its a great product. Ive used it previously to 'join' rocks together for a small decroative structure. Its not something everyone will use. But put it at the checkout stand at all hardware and craft stores and its a winner. Someone diying somethig could find hundreds of uses for this.
Stationery box sold this many years ago in 2003 😊
Good job Steven, I think you'll get this product moving
Steven should have asked for 40%. He would have got it too.
Most people only pitch the product and don't understand that is about being able to show their ability and vision to build a company that can actually execute the product.
Product is doing well on Amazon so well done to them.
Looks Good I would buy it
Does it work on insulating hot pan handles or does it melt
It melts.
I wonder if DD will ever get cancelled. I hope not, but I can't imagine ratings going up any time soon.
Why you saying that?
They may not go up, but they sure won’t go down either.
One day, of course it will.
Are you suggesting the product is stagnant?
The company is operating on borrowed money with which these guys are paying themselves a salary. None of that was fleshed out and discussed in this clip. I would want to know how much they're paying themselves, the source of the borrowed money, how much debt the company has, and the plan for paying it back. I would make any buy in conditional on suspending their salaries until the business has enough turnover to cover costs. Their income should only come from a percent of net profits until the company's revenue grows enough to put them back on salary.
What we see on the show is not the end of negotiations, details like this are handled later. Also, the show is dramatised in the editing and a lot of routine questions probably get cut.
Do you have money to invest?
I have this sort of material on ear plugs you heat and mould to your own ear canal and then it sets. its been around for a while
the fact that it's reusable makes it useless. if it goes soft again when it gets warm and wet then all kitchen and bathroom repairs are out..
try SUGRU.. does the same thing but better already..
I really liked the product from the start and thought this is exactly what's needed. I am glad some Dragon had the mind to invest.
Steven nailed it! He totally figured out the path to market.
I would definitely use that
Well, those two had really excellent posture, I’ll give them that. Not sure about the product, but I liked looking at them…
what is the product name i need it asap
Everytime one of them said "oh people won't know what it is" etc, I was just like "??? you guys know about social media right?" 😅 That's like the biggest all-in-one educating-promoting-selling machine
Breaking fast and eating pasta while watching dragons den, can’t go wrong.
Me too! 🍝
Bessaha ftorek ;) 🇲🇦
❤❤❤
same 😂
“I don’t think the dragons will have ever seen anything like this before”. Unless they’ve been to a DIY store.
I live near the Forest in Radford, it is bizarre that his name is Forest Radford
Sugru already exists
It's a cool fix it product!
Steven class act
Honestly is there ANY use for this? I feel like even the nr 1 best use they themselves could think of and that they chose to put on the packaging (fixing a pair of broken glasses) would be better with both glue and tape. Who wants to go around with putty on their glasses anyways? And probably wont even hold for long
Only way it would work on glasses is if you maticulously design a pattern with the putty on the whole thing but then it probably wouldn’t fit. Lol
Amazing how the production team succeeds in building drama.
"But will Deborah Meaden, who made her millions in the frowning industry, see an investment opportunity?"
??? Why is it not called FixSticks?
Ayyo, brand new vid!
This was 2022? Post pandemic? Odd there was no handshake at the end with Stephen
I already use sugru, isn’t it basically the same product?
My nan bought me this off QVC 20 years ago to fix my BMX lol
😂
I have bought basically the same thing over 5 years ago on aliexpress for less than 2 usd. There is nothng new or exclusive being pitched here.
So sticky tac?????
THIS HAS BEEN OUT FOR YEARS. It's call thermoloc by grs. Works exactly the same way.
46,980
Is Steven cabable of saying a sentence without mentioning tik tok?
This is a good idea
We've already had it (Mighty Putty) spoiler alert it failed
You will make a lot of money with this product trust me! Imagine how many charging cables I could fix with that 😂
Me: My USB C charging cable is broke
Product: £9.99
Amazon: £2.99
probably more suited for expensive glasses or stuff like that
My issue is the pitch being a product different from tape and glue when essentially it's both of those together. The difference is that it requires more proficiency and effort...and for that reason, I'm out.
I know that polymer, it has a melting temperature of 60 degrees Celsius and cost and 15 cents a kilo
Reinventing the wheel.
Unfortunate we don't get to know at what level the material is beginning to get soft.
Gaffer tape and cable ties, no putty needed
I backed this product on Kickstarter back in 2019! I got them. Love them and was excited when I saw a product that I actually helped out by backing on the show!
I can't believe anyone appears here without knowing their own numbers. Touker is right. This product is perfect for some home shopping network.
If you went on dragons den, you would have the same problem
What ... like Araldite? Epoxy resin?
How is this anything even remotely like a 2 part epoxy?
Hasnt Formcard already done this?
Charcoal & Superglue , not much ya cant fix with that
Peter or Debra would've asked for 35-40%, Touker would've obviously asked for 95% and thier houses and cars. Stephen's ask at 25% is a very fair deal for both.
Steven thinks tik tok will solve everything.
He thinks just like my 6 year old daughter
New invention? What are these guys talking about? Does no one remember the SUGRU? The exact same product without the need of water and more neat to use.
Been buying it for the past years
Your business is stagnant so the best advice I can give is for you to Fixit.
Peter is amazing
11.36 stephen cant tie his shoelaces.
so its blue tac
For how brash Peter can be at times, I think he showed a lot of class here.
Fractures in fingers, toes, wrists maybe can be helped with this molded putty. If there are chances of plastic irritation then use a finger condom or latex gloves over it.
Similar products have been in the market for years
realistically it is quite a good product i think the dragons were a bit harsh acting like he would have to explain a novel for the customer to understand what the product was for.
he said a sentence and i instantly knew what it was for. and it matches perfectly with Tiktok. i can also think of endless content ideas for it for the social media which is so powerful in this day and age.
i cant think of a practical use for the product that i would buy it for
100% same
ITS LITERALLY OOBLECK
Sugru?
They have a website and they are on Amazon so seems like they are doing okay.
LOL. I could set up both of those things in an hour. That's not a metric for success.
@@thesadwolf If they've got a website, the people running it definitely have fingers. And a computer. Or at least the address of an internet cafe.
@@thesadwolfgo and do it then lol
@thesadwolf the product is ranking well at the top 10 position for its category
I'm only here for Deborah ❤
No patents? Really bizarre.
On what? It's a material that has existed for decades.
These clowns really just stole something that someone else already invented and thought they'd get rich like that
They have licensed the base product and made it all about 'brand'... Everyone wants to be or own a brand and doesn't want to invest time in the fundamental boring stuff.
@@Rusmiesterthey didn't licence anything, it's all off the shelf
Blu-Tac
Reminds me of sugru that stuff was brilliant.
i thought they say ifixit lol, but it's only fixit
Wait...is this not just shugru?!
Better than sugru potentially. But that never made it big like I thought it would. Please don't sell it more expensive than it needs to be!
Why is Sarah upset that didn’t create a new chemical compound-?
Did the deal go through?
Yes, but both the guys were shot
It's a terrrrrible deal though 😂😂😂😂😂😂😂
People mostly don't FIX, they REPLACE
They are concept and idea developers not mathematicians . I think that product is not a good investment
Looks like thermoplastic
It is
I don’t get Sara’s point (no disrespect). Yes the material is an existing one, but it’s used in industry. They’re not selling it to the industry experts Sara has in her contacts, they’re selling it to ‘every Tom, Dick & Harry’ - or should be if they’d like to make any money. Fab idea.
Everyone has super glue in the draw . No need for this , lol boiling water
Why are they still in Corona mode? 😮 and still no handshakes
Because it’s a clip from an old episode.
Damn why do I keep seeing comments on CZcams with people thinking every video upload is brand new content 💀
So its just a knock off of Mighty Putty ads known with Billy Mays???