Dragon’s Den star Sara Davies offers lifeline as entrepreneur descends into tears | Personal Finance | Finance
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The feel-good business opportunity was passed over by four Dragons due to larger competitors, a disbelief of market size and profitability. Seemingly at the end of her Dragons’ Den journey, Ms Davis began weeping in the den, but thankfully she was given a lifeline in the form of Sara Davies.
The mum of two created Nylah’s Naturals, inspired by wanting her daughter to know her natural hair is beautiful without needing “to fit into a linear beauty ideal”.
But, her daughter’s eczema presented some challenges when it came to finding products that were fit for both her hair texture, her skin sensitivity and embracing her daughter’s natural curls instead of altering them.
“When I couldn’t find it, I thought, ‘Hm, there’s a market here’,” Ms Davis commented in her pitch.
Creating an award-winning product without any capital, while working part-time and raising her two small children, Ms Davis earned a few congratulatory remarks from the Dragons for her dedication and motivation.
Asking for £50,000 for a 20 percent share of Nylah’s Naturals, Mr Davis delivered a brilliant pitch and looked to be succeeding in the den.
However, due to her limited time and finances to put into the business, the profit margins were not what the Dragons were expecting.
Deaborah Meaden also pointed out some flaws in the branding of the products, most notably: “Nowhere on this does it talk about textured hair?”.
Ms Davis also aired that she has a competitor in the UK market who had recently gotten an investment and in turn were growing faster and larger than she was.
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“With that investment and working capital I can equally dominate the market,” Ms Davis continued, noting the displeasure in the Dragon’s faces.
After a few grilling questions, Ms Davis began looking more shaky and nervous than when she first walked in, sensing the rising dismissiveness of the Dragons.
Touker Suleyman commented: “You come across very knowledgeable, but at the end of the day it’s the numbers that talk. In a way you’re one year too early in the den.”
After pointing out that Ms Davis should have given more time to have the figures speak for her business as much as her inspiring story did, Mr Suleyman, Tej Lalvani and Peter Jones all exited the deal in quick succession.
Ms Meaden added that she was also not convinced that it was the right time to invest in this opportunity, saying that: “I really do wish you all the best because you’ve done a great job and you present really well.” before declaring herself out of the deal too.
The disappointment was tangible as the hopeful entrepreneur was visibly knocked down by the series of rejections.
With only one Dragon remaining, it all seemed lost for Ms Davis and her innovative beauty brand.
“You don’t have a business worth a quarter of a million,” commented Sara Davies, speaking for the first time during this pitch.
“But I think with me on board you could have a business worth that. I’d really like to back another ‘mumpreneur’.”
Ms Davies noted that it was a market she was entirely unfamiliar with but rather than investing in the business alone, she was looking to invest in its brilliant founder.
Offering £50,000 for 40 percent of the business but this would also be reduced to 30 percent if the investment was returned within 18 months.
Ms Davis had tears streaming down her face as she accepted the deal, telling Ms Davies: “I’ll make you proud.”
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