Key Points:
- Investment: £20,000
- Investor: Sara Davies
- Equity Offered: 15%
- Business: Wheel So Limited
- Target Audience: Children and families interested in sustainability and outdoor activities
- Challenges: COVID-19 impacts, high product cost perception, and online retail strategy
A Groundbreaking Deal on Dragons' Den: Wheel So Limited Secures £20,000 Investment
Tom Wilde and James Culthust, the innovative minds behind Wheel So Limited, walked into the Dragons' Den with a unique and eco-friendly product that has never been seen before. Their creation, the first-ever Plantable Children's Vegetable Book, combines storytelling with gardening, offering children an interactive and educational experience.
Key Points:
- Investment: £20,000
- Investor: Sara Davies
- Equity Offered: 15%
- Business: Wheel So Limited
- Target Audience: Children and families interested in sustainability and outdoor activities
- Challenges: COVID-19 impacts, high product cost perception, and online retail strategy
The Pitch:
Tom and James pitched their innovative product, seeking £20,000 in exchange for a 10% equity stake in Wheel So Limited. The concept is simple yet revolutionary: a children’s book that, once read, can be planted to grow real vegetables. Each book contains 500 seeds embedded in its pages, aiming to encourage kids to spend more time outdoors and less on screens.
Business Background:
Despite initial setbacks due to the COVID-19 pandemic, which hindered their retail expansion plans, Tom and James swiftly pivoted to online sales. In just under 12 months, they sold 2,400 copies and generated a turnover of £21,000. Their production costs are low, at £1.50 per book, with a retail price of £9.99.
The Challenges:
Several Dragons raised concerns, particularly around the high retail price and the company’s branding strategy. Debra Meaden pointed out the potential for a subscription model and emphasized the importance of a child-friendly brand. Tuka Suleiman saw potential in expanding beyond books into collectible vegetable characters.
The Investment:
Three Dragons—Debra Meaden, Sara Davies, and Peter Jones—offered £20,000 for a 20% stake each, double the equity Tom and James were initially willing to give. After a brief negotiation, Sara Davies showed flexibility and agreed to reduce her equity demand to 15%, securing the deal.
Conclusion:
Tom and James left the Den with the investment they needed and an invaluable partnership with Sara Davies. This deal promises to help them expand their market reach and further develop their brand, sowing the seeds for future success.
This investment is not just a financial boost but also a testament to the potential of Wheel So Limited to inspire and educate children about sustainability and the environment through innovative, hands-on learning experiences.