A couple that operates a health and journaling company startled the Dragons’ Den stars by showing their outstanding revenues.
On this week’s edition of the business reality show, Dublin-based couple Ciaran and Denise sought an investment for their company, The Head Plan, which they believe will become ‘the Nike of mental wellness’.
When pitching, the couple stated that they were ‘on a mission to empower and improve lives’.
Seeking an £80,000 investment in exchange for a 5% ownership in their company, they then detailed how a significant health scare inspired the concept for The Head Plan.
Ciaran was diagnosed with leukaemia just two days after their honeymoon in 2019, and he was given only a few weeks to live.
He recovered completely after receiving a stem cell transplant, but the pair went on to launch their business to help people take a step back and reflect on their own lives.
Over the last four years, they’ve sold their items to clients in over 50 countries and have a mobile app with over 35,000 users.
When Steven Bartlett inquired about their profits, their figures impressed the panel.
In 2020, their revenue was £480,000, with a net profit of £269,000.
Hearing this, many of the Dragons appeared astonished and began jotting down the figures in their notebooks.
The next year, their total revenue was £944,000, with a net profit of £123,000.
Then, last year, their turnover was a remarkable £1.1 million, with a net of £166,000.
Peter Jones was impressed, calling their achievements ‘incredible’ and saying: ‘To start a business and to generate £3 million is absolutely amazing.’
‘I’ve got to say, well done,’ he added.
Guest Dragon Emma Grede claimed the duo was ‘killing it’ and had ‘fantastic’ statistics.
However, several of the Dragons backed out due to worries about how the company would grow its internet footprint.
But Peter didn’t miss his chance to invest, saying he ‘wanted to be their by their side’.
He then offered them any amount of money they want, but only at a 10% interest rate, whilst Deborah Meaden agreed to invest the same amount at an 8% interest rate.
Touker Suleyman then undercut her, stating he would provide 10% but reduce it to 7% if he got his money back within a year.
When it came time to make a choice, the couple accepted Peter’s offer, admitting afterward that he nearly burst into tears during their speech.
Dragons’ Den airs Thursdays at 8pm on BBC One.
