8 Greatest Misses From Dragons’ Den 

Many profitable companies have come out of the hit BBC actuality collection, Dragons’ Den. Nevertheless, not all of them have been fortunate sufficient to bag that much-desired backing from a few of TV’s most feared buyers.

Whether or not the Dragons didn’t just like the product, questioned the enterprise’s viability, or simply didn’t “vibe” with the entrepreneur, many pitchers left the Den empty-handed.

Nevertheless, getting rejected doesn’t imply the tip of the highway. And for these companies, it was truly the beginning. 

Under, we record eight of essentially the most profitable corporations that the Dragons in all probability remorse saying no to — exhibiting that even essentially the most seasoned specialists can get it improper.

1. BrewDog

In all probability one of the well-known Dragons’ Den rejections — and notable Startups 100 alumni — is the Scottish ‘punk brewer’, BrewDog.

Founders James Watt and Martin Dickie didn’t even get to pitch their enterprise to the Dragons, as they had been rejected by producers after their ultimate display check.

Whereas initially damage by the rejection, BrewDog went on to develop into one of the well-known beer manufacturers within the UK — even hitting unicorn standing in 2017 with a enterprise valuation of $2 billion (£1.6 billion). 

BrewDog’s daring branding, unconventional advertising, and give attention to producing merchandise with the highest quality malts and hops have made it a standout product within the beer market.

Nevertheless, it has additionally develop into a controversial title as nicely, significantly when ex-employees accused the corporate of getting a poisonous work tradition in 2021. Watt himself additionally got here beneath hearth earlier this yr when he shared on LinkedIn that he didn’t imagine in work-life steadiness.

Watt later tried his luck with Dragons’ Den when he utilized to be an investor on the present, however was rejected as soon as once more. Maybe as payback, in January, Watt introduced the launch of his new TV present, Home of Unicorns, to rival each Dragons’ Den and The Apprentice.

2. Gousto

Gousto is one other notable title within the Startups 100 Index. It’s additionally one other enterprise that the Dragons rejected when founders Timo Boldt and James Carter appeared on the present in 2013 to pitch their meal package supply service enterprise.

On the time, the Dragons stated no to the enterprise as they had been involved about its monetary losses of £25,000 a month, in addition to its funding preparations. Peter Jones additionally questioned its enterprise construction.

However only a week after the episode aired, Gousto managed to safe a £1 million funding from trade backers. It later hit unicorn standing in 2021, although this was later lower because of post-pandemic inflation. Nevertheless, the enterprise continues to be going sturdy at this time — efficiently producing $93.4 million in income and three.5K clients final yr.

3. Pasta Evangelists

Described as “pasta a la catastrophe” by Jenny Campbell, Alessandro Savelli and Finn Lagun’s enterprise thought in bringing genuine Italian delicacies to clients’ properties wasn’t precisely to the Dragons’ tastes. Unfortunate for them.

Showing on the present in 2018, Savelli and Lagun sought a £75,000 funding for two.5% fairness. However regardless of their passionate presentation, the Dragons had been sceptical in regards to the enterprise’ valuation and scalability. Consequently, the founders left with nothing.

However because the COVID-19 pandemic hit, demand for Savelli and Lagun’s merchandise grew quickly, leading to a £40 million turnover and a trio of appearances within the Startups 100 Index. 

In 2021, the corporate was acquired by Italian meals large Barilla for a similar quantity, and the model has since opened pasta bars throughout main places in London, together with ten new websites which are because of open this yr.

4. Hair Syrup

Even earlier than getting into the Den, Hair Syrup was already considerably of a haircare phenomenon on TikTok. Providing pure, pre-wash oil therapies — every tailor-made to sort out totally different hair-related woes — Lucie Macleod’s merchandise shortly made the rounds on social media for the reason that enterprise’s launch.

Regardless of the hype, Macleod’s merchandise didn’t fairly gel with the Dragons. Whereas it wasn’t a nasty hair day for Macleod, the Dragons identified a few flaws in her pitch, with Meaden questioning its profitability and dividend payouts. And whereas Touker Suleyman made a last-minute proposal, he shortly retracted shortly after.

However together with her head (and hair) held excessive, Macleod later advised The BBC that the enterprise has been “thriving” for the reason that rejection. Now thought to be one of the profitable companies from TikTok, Hair Syrup is predicted to generate £6.5 million in income this yr, and its valuation is reported to be value £4.5 million.

5. Tangle Teezer

Right this moment, you’ll seemingly spot the cleverly-designed Tangle Teezer hairbrushes whenever you go to your native Boots or Superdrug retailer. Nevertheless, its work trip began with a quite…tangly begin, because it did not safe funding when founder Shaun Pulfrey entered the Den in 2007.

Because the enterprise was nonetheless in its infancy, Pulfrey wasn’t in a position to show any gross sales figures and didn’t have any partnerships with distributors, which raised purple flags for the Dragons. He additionally unwittingly insulted Deborah Meaden’s hair color. Oops!

Luckily, Pulfrey was in a position to brush off the Dragons’ harsh phrases and continued to fabricate his merchandise. Tangle Teezer shortly crammed the cabinets of main magnificence retailers, earlier than being acquired by BIC in 2024 for an estimated £165m.

6. Trunki

Now thought of a staple in airports worldwide with its enjoyable and kid-friendly designs, the child’s ride-along suitcase Trunki first rolled into the Den in 2006, with founder Rob Regulation requesting a £150,000 funding for 10% fairness.

When pitching his product, Regulation estimated the enterprise can be value £1 million. Nevertheless, the Dragons weren’t wholly satisfied, with Theo Paphitis being significantly vocal about his dislike for the product, commenting: “Nobody of their proper thoughts would assume that enterprise was value one million”.

Because it turned out, Regulation would show Paphitis improper. Now thought of one of the well-known rejects from the Den, Trunki went on to win over 100 design awards, develop its product vary and obtain 5 million gross sales globally in 2023. Jones and Duncan Bannatyne additionally admitted that they remorse not investing within the enterprise.

7. Vacation spot London

Vacation spot London’s story goes all the best way again to 2005 throughout the present’s first season. Founder Rachel Lowe, having beforehand labored as a taxi driver, entered the Den to pitch her new board sport in hopes of getting a £75,000 funding.

Sadly, the Dragons didn’t take nicely to Lowe’s enterprise pitch, describing it as poorly ready. Considerations had been additionally raised in regards to the product’s marketability, with Rachel Elnaugh commenting that it might battle to compete towards main video games like Monopoly.

However in a accident, Vacation spot London ended up outselling Monopoly the exact same yr. Since then, the Vacation spot model has expanded to different variations of UK cities, together with London, Brighton, Portsmouth and Cardiff. Lowe has been taking part in her playing cards proper too, as her enterprise was reported to be value £95 million as of July 2023.

8. Status Pets

Years on from her look, Natalie Ellis advised The Solar that she was “torn aside” by the Dragons when she pitched to them. However ignoring their recommendation turned her right into a millionaire.

Ellis introduced in entrance of the Dragons in 2008 to pitch her Status Pets enterprise and its Street Refresher product — a non-spill water bowl designed for canines that minimises spills, making it a great tool for travelling. The Dragons had been voracious with their suggestions, telling Ellis that she’d be “eaten alive” and that her enterprise would “go to the graveyard”.

Nevertheless, Status Pets may be very a lot alive and nicely — the truth is, it’s thriving. Regardless of the brutal feedback, Ellis pursued her objective of taking her enterprise to the US, and inside a yr, it achieved £1 million in revenue. 

Ellis additionally has just a few notable purchasers beneath her belt, together with former President Barack Obama and Princess Anne. Even Meaden finally grew to become a buyer.

Classes from the Den

It’s no secret that the enterprise world is hard, and also you’re going to face rejection repeatedly. However that doesn’t imply it’s the tip of your corporation for good.

Whether or not you’re pitching to an angel investor, seeking to kind a brand new partnership, or have to get further funding with a enterprise mortgage, you’re going to be advised not more than as soon as. And whereas it may be irritating on the time, you possibly can nonetheless push ahead and obtain these all-important milestones — you simply have to search out one other technique to get there.

In any case, these eight companies had been turned away after they sought Dragon funding, however have nonetheless managed to return out on prime.

Because the saying goes: rejection is redirection.