Key Points:
- Investment: No deal was made.
- Investor: None.
- Equity Offered: 10% for £45,000.
- Business: Vanguardium, an early warning alarm system for vans.
- Target Audience: Van owners in the UK.
- Challenges: Difficulty explaining patent details, perceived as a side project, market size concerns, and limited evidence of business tenacity.
Blog Post: No Deal for Vanguardium on Dragons' Den
Michael Horsefall from Leeds entered the Dragons' Den seeking £45,000 for a 10% equity stake in his business, Vanguardium, but ultimately left without an investment.
Introduction
Michael Horsefall, a heating engineer by trade, faced the Dragons to pitch his innovative product, Vanguardium. This early warning alarm system is designed to prevent van theft by activating upon contact, protecting the van before any significant damage occurs.
The Pitch
Michael's journey began from personal experience with van crime, leading him to develop Vanguardium. His product aims to reduce the 28,000 annual van theft cases in the UK. He demonstrated how the alarm system works, emphasizing its ability to act preemptively and deter potential thieves by emitting warning sounds upon contact.
Dragons' Feedback
Despite the initial interest, the Dragons had several concerns:
- Patent Confusion: Michael struggled to clearly explain the unique aspects of his product's patent, leading to confusion among the Dragons.
- Perception as a Side Project: Stephen Bartlett questioned Michael's dedication, viewing Vanguardium as a side project rather than a full-time commitment.
- Market Viability: Both Peter Jones and Deborah Meaden expressed doubts about the product's market potential, labeling it as a "nice-to-have" rather than a "must-have."
- Business Clarity: Deborah Meaden also highlighted issues with Michael's ability to communicate his business model succinctly.
Outcome
All five Dragons ultimately decided not to invest in Vanguardium. While they acknowledged the product's potential to sell well, they did not see it as a viable large-scale business investment. Tuka Suleiman, the final Dragon to speak, echoed the sentiment that the product was good but not investable for a high return.
Conclusion
Although Michael left the Den without the desired investment, he remained optimistic. The experience provided valuable feedback that he could use to refine his pitch and business strategy. Vanguardium continues to offer a practical solution for van owners looking to protect their vehicles from theft, and Michael is determined to push forward with his business.