Dragons’ Den is a popular TV series where aspiring entrepreneurs pitch their business ideas to a panel of investors, known as the Dragons. While many entrepreneurs have secured investments from the Dragons, there have also been instances where they were rejected, only to later achieve great success.
One of the most famous examples of this is the company Trunki, which produces ride-on suitcases for children. The founder, Rob Law, appeared on Dragons’ Den in 2006 but was rejected by the Dragons. However, Law persevered and went on to build a successful business. In 2013, Trunki was sold to a private equity firm for £50 million, and Law’s original stake was estimated to be worth around £3.5 million.
Another example is the company Skinny Tan, which produces self-tanning products. The founders, Louise Ferguson and Kate Cotton, appeared on Dragons’ Den in 2013 but were not successful in securing an investment. However, they managed to build a thriving business and in 2020, Skinny Tan was sold to InnovaDerma for £4 million. The founders’ original stake was estimated to be worth around £1.5 million.
Other examples include Tangle Teezer, which produces hairbrushes, and Reggae Reggae Sauce, which produces a range of Caribbean sauces. While Tangle Teezer was initially rejected by the Dragons, it was later invited back on the show and secured investment from Dragon Deborah Meaden. Reggae Reggae Sauce, on the other hand, secured investment from Dragons Peter Jones and Richard Farleigh in exchange for 40% of the business.
These success stories highlight the importance of perseverance and believing in your business idea, even in the face of rejection. It is worth noting that while the exact value of the entrepreneurs’ original stakes is not always disclosed, it is clear that they have made millions through their successful businesses.
Overall, the success of these entrepreneurs who faced rejection on Dragons’ Den is a testament to the power of determination and hard work.