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Name | Tony Earnshaw and Steve Pearson |
Pitching | UK Commercial Cleaning Services Ltd |
Investment Required | £100,000 |
Equity Offered | 20% |
Brief Description | An industrial cleaning company. |
Tony Earnshaw and Steve Pearson deliver a professional and polished pitch to the Dragons, asking for £100,000 so they can take their commercial cleaning business nationwide.
The duo confidently stand up to questioning from the Dragons about the details of the business.
Impressed by their figures, Theo Paphitis asks about the pair's background. Tony tells Theo that he comes from a very humble background and started out with only £300 which he spent on a window-cleaning van. Within six months he'd built the business up to make £6,000 a month but decided to sell the business as he didn’t want to continue with this "easy life". Instead, he had a vision of what he wanted to do in the future.
However, Duncan Bannatyne wants to know what Tony will do if he gets an investment and doesn't hit his targets. A confident Tony tells Duncan that this isn't an option for him as he's never failed at anything in his life.
But Deborah Meaden questions how much of these "impressive" figures are actually profit. Under tough questioning the pair falter, with Deborah telling them that they can't just focus on turnover; they need to think about their net profit too. She rebukes them for relying solely on their accountant - they should know what they're doing. Because they don't, she's out.
Theo Paphitis and Peter Jones quickly follow suit.
But Duncan Bannatyne has been impressed by Tony's drive. He decides to offer him the full £100,000, for 35% of the business.
However James Caan has also taken a shine to the pair. He offers them the full amount but for 50% of their business. But, in an interesting move, he offers to give them 5% back each year they hit their targets so he'll eventually end up with only 35% equity.
Tony and Steve take a moment to consider the rival offers and return to tell Duncan that they'd like to accept his offer. A contented Duncan tells them "I’ll see you in the office on Monday".
Duncan Bannatyne: £100,000 for a 35% stake in UK Commercial Cleaning Services Ltd.
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