In January 2018, Dylan Watkins and Louise Mackintosh, co-founders of Poppy’s Picnic, stepped into the Dragons’ Den with their raw dog food brand. Accompanied by their miniature schnauzer, Poppy, they sought £60,000 for a 5% stake in their business. Their pitch captivated the Dragons, leading to four investment offers.

“Poppy led the way and you could see immediately that taking a dog to meet the Dragons was a very good idea. They were smitten,” Dylan recalled.

After a two-hour session filled with questions and discussions, Dylan and Louise accepted an offer from Deborah Meaden: £60,000 for a 15% equity share. However, they later decided not to proceed with the deal. Instead, they turned to crowdfunding, raising over £500,000 in less than 72 hours through Crowdcube for an 8% equity share.

Preparing for Dragons’ Den: Tips for Aspiring Entrepreneurs

If you're considering pitching your product on Dragons’ Den, here’s a guide to help you prepare:

1. Application Process

• Ensure your business is ready for investment and has a clear growth plan.
• Complete the application form available on the BBC website.
• Be prepared to provide detailed information about your business, including financials, market research, and unique selling points.

2. Crafting Your Pitch

• Start with a compelling story that connects with the audience.
• Clearly state the problem your product solves and how it stands out in the market.
• Keep your pitch concise, aiming for 3-5 minutes, and practice it multiple times to ensure a confident delivery.

3. Financial Preparedness

• Have a thorough understanding of your financials, including current revenue, profit margins, and projections.
• Be ready to discuss how the investment will be used and the expected return on investment for the Dragons.

4. Handling Questions

• Anticipate potential questions and prepare clear, honest answers.
• Stay calm and composed, even if faced with challenging queries.
• Demonstrate your passion and commitment to your business throughout the discussion.

Lessons from Poppy’s Picnic

Dylan and Louise's experience on Dragons’ Den highlights the importance of preparation, authenticity, and adaptability. Their journey showcases that even if a deal doesn't materialize on the show, alternative funding avenues like crowdfunding can lead to significant success.

“The exposure from Dragons’ Den was invaluable. It opened doors and validated our business in the eyes of customers and investors alike,” Dylan shared.

For more insights into their journey, watch their pitch on YouTube and explore their story on the Poppy’s Picnic website.