Key Points:
Investment: £50,000
Investor: Peter Jones
Equity Offered: 20%
Business: Football Billionaire (Board Game)
Target Audience: Football enthusiasts, board game players
Challenges: Scalability, market penetration in the US, dedicated management
The Pitch
Fifteen-year-old Shae Sharma, accompanied by his father Raj, entered the Dragons' Den seeking £50,000 for 5% equity in their business, Football Billionaire. This unique board game combines the excitement of football with strategic gameplay, where players collect positions to build the wealthiest football club. The duo has already sold 65,000 games and expects a turnover of £550,000 this year. They have secured licensing deals with Chelsea, West Ham, Topps, and even the NFL for the UK and Europe.
Financials and Offer
Shae and Raj pitched a promising financial outlook with potential expansion into the US market, leveraging their NFL license. Despite the ambitious claim of a £40 million exit in three years, the realistic insights from the Dragons emphasized the challenging nature of scaling a board game business to that level.
Challenges Highlighted by the Dragons
- Scalability: Peter Jones questioned the feasibility of achieving a £40 million exit, highlighting the tough nature of the board game market.
- Dedicated Management: Deborah Meaden and Sarah Davies expressed concerns about Raj's ability to dedicate full-time attention to the business, given his involvement in other ventures.
- Market Penetration in the US: Raj's lack of detailed knowledge about the US toy market and major trade fairs indicated a need for more in-depth market research and strategy.
Conclusion
Despite the challenges, Raj and Shae's enthusiasm and the unique appeal of Football Billionaire convinced Peter Jones to invest. He offered the full £50,000 for 20% equity, leveraging his experience and resources in the board game market to help scale the business. This investment marks a significant milestone for the young entrepreneur, providing both the financial backing and strategic support needed to take Football Billionaire to new heights.