CBC show “Dragons Den”
Questions about the CBC show “Dragons Den.”
- Eliot approached the Dragon’s Den panel to pitch about C-spray. C-spray is a natural spray that eliminates chlorine’s scent, which usually sticks to hair, skin, and swimsuit after swimming. This product is ideal for individuals who love to swim but hate the harmful and irritating effects of chlorine. Thus, C-spray works to neutralize chlorine through breaking its bond, eliminating its odor, and reducing its adverse effects.
- Eliot came up with the idea while he was a swimming instructor. Following periods of providing swimming lessons, he did not like the effects of chlorine on his skin, including drying and irritation. For these reasons, he engaged the chemists from his university, who helped develop c-spray, a product that would neutralize chlorine.
- Eliot fits the description of a classic entrepreneur. Based on the description of a classic entrepreneur, he developed a self-supporting venture whereby he deemed it right to find and allocate resources that would lead to the development of the ideal product, eliminating the side effects of chlorine. The impetus of this nature, he is now able to tap the market in this niche with his product.
- Eliot embodies the characteristic of innovation, whereby he was able to develop and commercialize a new product. He was creative enough to identify a product missing in the market, and he sought to allocate resources, which led to the development of C-spray. Additionally, Eliot, as an entrepreneur, understands his offer. Based on his presentations to the panel of Dragon’s Den, he understands the importance of C-spray and knows where it fits in the market through effective positioning.
- Overall, the Dragons like Eliot’s idea of inventing the ideal product to eliminate chlorine’s skin sensitivity. Arlene Dickinson, Manjit Minhas, and Lane Merrifield liked the idea. Still, they did not like Eliot’s valuation of the company and not wholly understanding the business market, which led them to get out of the deal. Jim Treliving liked Eliot’s product to the extent that he was willing to buy it; however, he presented that he was willing to provide $100000 for the company’s 50 percent equity. Vincenzo Guzzo also liked the idea and was willing to give $50000 for 50 percent of the equity and $50000 loan, but objected from his proposal since he did not have a patent for his product. Finally, Michele Romanow liked his idea and the fact that he has high margins, and he can sustain it. Thus, she was willing to give the $100000 for 10 percent royalty forever.
- Notably, Eliot, as the entrepreneur of C-spray, chief interest is getting financing of $100000. Following through on his presentation, there is no other agenda that he has presented to the Dragons but only needs more capital to meet growth needs, marketing, and patenting of his product.
- Notably, Arlene was primarily interested if Eliot’s has sold the products since he founded the company and who are the primary buyers and where he stocks the product. Additionally, Reliving was also interested in knowing what he was going to do with the $100000. Romanow was interested in knowing how much the product retails in the market and the cost of producing it.
- Eliot’s main deal was $100000 for 10 percent of equity for his company.
- The financing option that has been provided can be classified as an equity investment. That is, a Dragon will be willing to provide $100000 that will be invested by Eliot, and they will receive a 10 percent shares of the company.
- A notable threat that was identified concerned the lack of patenting his product. This threat falls with the legal segment, reflecting that Eliot has not officiated this innovation, which can make the product fall prey to imitation and competition.