Key Points:
- Investment: £60,000
- Investor: Deborah Meaden
- Equity Offered: 40%
- Business: Good Bubble (super fruit toiletries for children)
- Target Audience: Parents concerned about natural and safe ingredients in children’s toiletries
- Challenges: Branding issues, limited UK sales, high competition, and ambitious international expansion plans
The Pitch
Amy Wordsworth, the founder of Good Bubble, entered the Dragons' Den seeking £60,000 for a 15% equity stake in her company. Good Bubble offers the UK's first range of super fruit toiletries for children, including bubble baths, shampoos, conditioners, and hair and body washes made from at least 98% natural ingredients. Amy emphasized the safety and natural aspect of her products, which are free from sulfates, phthalates, and artificial colors.
Financials and Offer
Amy disclosed that her products retail at £3.99 for a 400ml bubble bath and £3.69 for a 250ml shampoo, conditioner, and hair and body wash. She has sold approximately £3,500 worth of products through Ocado since January. Despite these sales, some dragons found the prices high and the sales figures underwhelming.
Challenges Highlighted by the Dragons
The dragons raised several concerns:
- Branding: Deborah Meaden and other dragons found the branding weak, suggesting it needed to be more prominent and clearly communicate the benefits.
- Sales Performance: Sarah Willingham highlighted the low sales on Ocado as a potential red flag, indicating the need for significant marketing investment to compete with major brands.
- Market Focus: Nick Jenkins criticized Amy's focus on international expansion, particularly into the Chinese market, before solidifying her presence in the UK.
- Business Maturity: Tuka Suleiman and others noted that Good Bubble was at a very early stage and required substantial work before being a viable investment opportunity.
Conclusion
Despite the criticisms and the overwhelming pressure, Amy's determination shone through. Deborah Meaden saw potential in the business and offered the full £60,000 but in exchange for a 40% equity stake, demanding a complete rebrand and a hands-on approach to overhaul the company's market strategy. Amy accepted the offer, marking the beginning of a new chapter for Good Bubble with an experienced investor ready to guide her through the challenges ahead.