Episode 1: Pedigree Cattle's Response
Q: Explain your Dragon's den experience in a couple of lines.
A: We must say we thoroughly enjoyed the whole experience from start to finish. On the morning of the Den we were quiet relaxed downstairs. The minute we stood in front of the Dragons I certainly felt very nervous. After the first two minutes the nerves disappeared and we were concentrating on answering all the questions correctly for the Dragons.
Q: Who was the toughest Dragon?
A: We didn't feel the brunt of any of the Dragons at all. We are in fantastic position of having four Dragons interested in investing in our business.
Q: How did you prepare?
A: We had just over one weeks notice to prepare so time was moving fast. We wrote up our pitch and cut it down to three minutes. We then spent two days presenting and perfecting our pitch. We are part of the LEAP programme in LIT limerick so we presented to our colleagues and mentors for a day. The second day we pitched to four people who had never heard of business before. It was to like a mock Dragons Den.
Q: Was it as you expected it to be?
A: Honestly I didn't know what to expect, we had studied the BBC Dragons Den for the week and answering all the questions they asked. We expected the questioning from the Dragons Den to be a lot tougher. There was one stage in the pitch when the Dragons were arguing among themselves, Bobby Kerr the only man not interested in us, he stepped in and did a summary of the offers that were on the table. We appreciated what he did as he took charge of the discussion.
Q: Were you surprised by some of the questions?
A: I was surprised that Niall and Gavin had a good idea of Pedigree cattle. But all the questions were general about our business.
Q: Who was most interested in your idea?
A: Initially Gavin Duffy came in with 50% of the investment very early on in the pitch; this surprised us how early he came in. Niall O Farrell and Sarah Newman offered the full investment for 20% and 30% if the business respectively. Sean Gallagher then matched Gavin's offer. At this stage the Dragons we were competing among themselves for our business.
Q: Would you have done anything differently?
A: On the day we did try and negotiate with Sean Gallagher and Gavin Duffy, if we were there again we possibly would have negotiated a better deal.
Q: Would you recommend applying for Dragon's Den to any other budding entrepreneurs?
A: Definitely, aside from the investment in the business, the experience that we have gained from Sean and Gavin are invaluable and we couldn't put a price on that experience. Having met the five Dragons afterwards we would have great time for them all, they all congratulated us and wished us luck.
Q: What does this mean to you personally?
A: It was a fantastic feeling to stand in front of five successful business people and to have four of them interested in our business. It's a great sense of achievement and we are looking forward to working with the two men.