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Name | Patrick Thirkell |
Pitching | Spey Bay Mussel Farm |
Investment Required | £100,000 |
Equity Offered | 20% |
Brief Description | Shellfish farm off the East Coast of Scotland. |
Patrick delivers a passionate if slightly eccentric pitch, although the Dragons seem to find it difficult to take him and his only prop of a rough hand drawn poster seriously.
Peter Jones is first to question Patrick, saying that he's almost scared to ask what Patrick's day job is! Patrick assures him that he used to be an "intelligent" navigator for the RAF, although he's now retired. Peter goes on to ask him how many mussels he's caught and is not pleased to hear that this is his first season and so far Patrick has failed to catch any at all.
Duncan Bannatyne is next to grill Patrick, asking if he sees himself competing with the mussel farms in Scotland. Duncan is shocked to learn that Patrick does not plan on competing with these companies as he wants to run an internet only mail order service of party packs of mussels. Duncan tells Patrick that if people aren’t buying mussels in the supermarket there’s no way they will suddenly want to go online and buy them.
Theo Paphitis steps in to ask about the company’s finances. Patrick happily informs him that he hasn't put much money in himself as the start-up costs are remarkably low, with the rent of the bay being only £40. However, this doesn't please Theo who wants to know how Patrick can then justifiably ask him for £100,000.
But, Patrick counters his concerns, telling him that he will remortgage his house and along with his partners will put the rest of the money in. He also catches the attention of the Dragons by telling Theo that the price of mussels went up 4% last year, meaning that he could potentially make over £2 million next year.
But Deborah Meaden wants to know about the environmental impact of the business. Patrick is unable to tell her how many mussels he can farm without damaging the local environment. Deborah's anger is aroused as she tells him he can't then claim his business is ethical and sustainable. She cuts him off mid-reply to tell him that she's out.
James Caan is quick to follow Deborah, telling Patrick he has to take his business more seriously and that he should take professional advice before continuing.
But Duncan Bannatyne disagrees with James, telling Patrick that he shouldn't pay for professional advice. Instead, he should take Duncan's, which is: "This is absolutely ludicrous and I'm out".
Theo Paphitis tells Patrick that he shouldn't bet his farm on this business and that he should only continue with it if he can afford to fail. But, he's not going to be able to afford to fail with Theo's children's inheritance, so for those reasons he's out.
Peter Jones agrees with Theo and tells Patrick that whilst he might be catching mussels in his net he's not going to catch this Dragon.
No investment.
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