Key Points:
- Investment: £50,000
- Investor: Sarah Davies and a co-investor
- Equity Offered: 25% (12.5% each to two Dragons)
- Business: Kiddywiz - The Whizzer, a portable unisex eco-toilet
- Target Audience: Families with young children, particularly those who are potty training, and the camping market
- Challenges: Product market education, demonstration necessity, and retail presentation
The Pitch
Zoe Chapman, driven by her experiences as a single mother and caregiver, founded Kiddywiz to solve a significant challenge she faced: the need for a portable toilet solution for her child and elderly father. She presented her invention, The Whizzer, as the world’s first unisex, eco-friendly portable toilet designed for children on the go, with plans to develop an adult version soon.
Financials and Offer
Zoe asked for £50,000 in exchange for 10% equity in Kiddywiz. Her financials revealed that since launching on February 17, 2021, she had made £41,000 with a gross profit of 31% and a net loss of 23%. She invested £45,000 of her own funds, raised through personal sacrifices, to support the business.
Challenges Highlighted by the Dragons
Dragons raised concerns about the product's market positioning, the need for in-person demonstrations to convey its utility, and the challenge of making the product understood and appealing on retail shelves. They questioned the scalability of the business and Zoe’s ability to manage without additional expertise.
ConclusionDespite initial reservations, Zoe’s compelling pitch and resilience impressed the Dragons. Sarah Davies, relating personally to the product's utility, offered £50,000 for a 25% stake alongside a co-investor, each taking 12.5%. This investment marked a significant milestone for Zoe, validating her hard work and offering expert mentorship to scale Kiddywiz. Zoe’s success story from 'Dragons' Den' exemplifies how personal challenges can inspire innovation, turning everyday struggles into business opportunities.