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- Dec 7, 2023
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We are fortunate in a sense as members of the public with an interest in the shopping television world to have this kind of industry information from the inside to read and contribute to. What is tells you more than anything else is coming to market with a product start with ZERO customers on board is a huge risk. When you watch Dragons’ Den businesses pitch up in front of the investors, the main probing questions they ask are all about numbers - sales and net profits…Can you imagine the following pitch for Seen on TV:-
Iles: “And we are looking for £100,000 for a 5 percent stake in our Business…Seen on TV.”
Dragon: “ And how many viewers do you have on Seen On TV?”
Iles: “Well, we’ve just started, so not many at present.”
Dragon: “How many is not many?”
Iles: “Erm…275..”
Dragon: “And how many products have you sold to date, then?”
Iles: “ Well, as I said…we’ve just started up, so erm…500 pots of glue, 50 air fryers and 35 18 hour Corselettes .”
Dragon: “Net profit on those?”
Iles: “£500 on the glue, £250 on the air fryers and £175 on the shapewear.”
Dragon: “And your daily operating costs?”
Iles: “Well…erm…£3000 a day….”
Dragon: “And how exactly do you see a Dragon helping you?”
Iles: “Well…paying the operating costs for a bit and finding us some more customers.”
Dragon: “I’M OUT.”
That’s broadly the problem they face going by what’s been said. I hope they can sort it,
Iles: “And we are looking for £100,000 for a 5 percent stake in our Business…Seen on TV.”
Dragon: “ And how many viewers do you have on Seen On TV?”
Iles: “Well, we’ve just started, so not many at present.”
Dragon: “How many is not many?”
Iles: “Erm…275..”
Dragon: “And how many products have you sold to date, then?”
Iles: “ Well, as I said…we’ve just started up, so erm…500 pots of glue, 50 air fryers and 35 18 hour Corselettes .”
Dragon: “Net profit on those?”
Iles: “£500 on the glue, £250 on the air fryers and £175 on the shapewear.”
Dragon: “And your daily operating costs?”
Iles: “Well…erm…£3000 a day….”
Dragon: “And how exactly do you see a Dragon helping you?”
Iles: “Well…paying the operating costs for a bit and finding us some more customers.”
Dragon: “I’M OUT.”
That’s broadly the problem they face going by what’s been said. I hope they can sort it,
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