Faced with five of the country’s most ruthless business minds, most might find it a little hard to say no.
But a former City worker who turned down five-figure investment offers from the Dragons’ Den entrepreneurs has said the daring move was the “best decision she’s ever made”.
Harriot Pleydell-Bouverie, 29, started her confectionery business Mallow & Marsh in February last year.
After six months of working on her range of “guilt-free” marshmallows —made without dairy, egg, gluten or wheat — she won a one-year contract with Sainsbury’s, which offered to stock them in stores across London.
As she needed investment to help fulfil the contract, the entrepreneur applied to go on the BBC2 show and appeared in an episode on Sunday.
After pitching the marshmallows, which cost £3 for a pack of three and come in flavours including coconut, raspberry and peppermint, she asked the Dragons for £65,000 in exchange for 10 per cent of her business.
Two were interested — Deborah Meaden, who offered £65,000 for a 33.3 per cent stake, and Peter Jones, who offered £80,000 for 40 per cent.
However, Ms Pleydell-Bouverie rejected both offers and instead found £150,000 of investment on her own.
Speaking to the Standard, she said she turned down the Dragons because she was looking for a more “hands-on approach” from investors and didn’t want to hand over such a large chunk of her business so soon.
She said: “I was pleased with what the Dragons offered but I believed my business was worth more than they were willing to offer.
“It was an equity problem as giving away 30 or 40 per cent is a big decision — especially as we’re quite small. The Dragons have so much on as they are working with lots of businesses. I wanted a more hands-on approach.
“So I turned them down. At the time I thought: ‘This is either the best or the worst decision I’ve ever made.’
“I am now totally convinced I made the right choice.”
Since filming the episode in April Ms Pleydell-Bouverie, who was born in Hertfordshire, has raised £150,000 after approaching potential investors in the food industry and setting up a Kickstarter campaign.
She said: “I have now raised double what was offered on the show for 15 per cent of my business.
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“All of [the investors] have offered both money and advice which is what I needed and are really involved in the progression of my firm. I couldn’t be happier.”
A BBC spokeswoman declined to comment but wished Ms Pleydell-Bouverie well in her venture.
