- Investment: £60,000
- Investor: Two kasuliman
- Equity Offered: 40%
- Business: BellyBambino - Handmade seagrass belly baskets for kids
- Target Audience: Families seeking sustainable and aesthetically pleasing toy storage solutions
- Challenges: Scaling production to meet demand while maintaining quality and design uniqueness
The Pitch
Helen and Mark Chapman, the founders of Belly Bambino, presented their innovative solution for messy children's rooms with their hand-crafted seagrass belly baskets. Designed to be both practical and enjoyable for kids, these baskets combine functionality with a sensory element. Initially a stay-at-home mom solution to toy clutter, Helen's idea has blossomed into a budding business, gaining traction through both direct customer sales and major retail partnerships.
Financials and Offer
The Chapmans asked for £60,000 in exchange for 20% equity, aiming to scale their business which has shown promising growth. Their last recorded year boasted £117,000 in sales with a projection to increase substantially. The funds were earmarked to finalize the outsourcing of production to meet the rising demand.
Challenges Highlighted by the Dragons
Dragons expressed concerns primarily around the business's scalability and the current self-manufacturing limits. Questions were raised about production costs and the potential for full-scale commercialization. The Chapmans defended their model by highlighting recent shifts to outsourced production, which significantly cut costs and increased production capability.
Conclusion
Despite initial hesitations and a rigorous questioning session, Helen and Mark successfully secured an investment of £60,000 from their preferred Dragon, Two kasuliman, though at double the equity they initially offered. This investment signifies a pivotal point for Belly Bambino, potentially steering it towards international recognition and increased production capabilities. The deal epitomizes a significant leap of faith from both parties, with promises of substantial growth and brand development in the near future.
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