Dragon’s Den is a popular television show that allows entrepreneurs to pitch their business ideas in front of a panel of investors, known as dragons. While successful pitches can lead to life-changing investments, failed pitches often result in nightmares for the entrepreneurs and the dragons who invested in their ideas.
Here are the top failed investments in Dragon’s Den history:
1. Daisy’s Bed and Breakfast: In season three of Dragon’s Den, an entrepreneur named Daisy pitched her idea for a bed and breakfast that served only vegetarian food. The dragons were not impressed with the concept and declined to invest. Despite this, Daisy continued to pursue her business idea, and the bed and breakfast eventually collapsed due to poor business management.
2. Revomaze: Industrial designer Chris Pitt took his puzzle toy Revomaze to the dragons in season four, looking for an investment in his company. The dragons were interested in the idea but were hesitant to invest, citing concerns about the high price of the product. Pitt went on to release several versions of the puzzle toy, but the company ultimately filed for bankruptcy in 2016.
3. The Edge of Heaven: Entrepreneurs Kathy and Roger Wheeler pitched The Edge of Heaven, a luxury treehouse hotel, in season eight of Dragon’s Den. Despite garnering interest from the dragons, the couple was unable to secure the necessary investment and the hotel never came to fruition.
4. LumoBack: In season nine, entrepreneur Andrew Chang pitched LumoBack, a posture correction device. The dragons were impressed with the technology but were hesitant to invest due to concerns about the high cost of manufacturing. The company eventually raised $1.1 million through crowdfunding, but it failed to meet its sales goals and went out of business in 2017.
5. Health Energy Potion: In season four, entrepreneurs Alex Dzieduszycki and Ron Silverman pitched their energy drink, Health Energy Potion. Despite receiving an investment from dragon Brett Wilson, the company struggled to attract customers and was ultimately acquired by another energy drink company in 2013.
These failed investments serve as a reminder of the risks that come with investing in new business ventures. While some ideas may seem promising at first, there are often many challenges that arise when trying to bring them to market. It’s important for entrepreneurs to have a strong business plan and management strategy in place to increase their chances of success, and for investors to thoroughly evaluate any potential investments before committing to them.