Name: 狗狗的朋友們讓龍族為蟲子食物的交易而抓狂!| 龍穴 - BBC (Doggy friends have Dragons clawing over bug food deal! | Dragons' Den - BBC)
Uploaded: 2021-01-14T10:09:59.000Z
Duration: 13 min 47 s
Description: 【看影片學英語】數萬部 YouTube 影片，搭配英漢字典即點即查，輕鬆掌握單字發音與用法，長久累積看電影不必再看字幕。

My name's Ross Lamb, and I'm the founder of Bug Bakes, and I'm asking for £50,000 in exchange for 10% of my business.

轉承詞

My product is simple baked treats for dogs, and it's the UK is first to use insect protein instead of livestock, which might surprise you to learn is a very good thing to be doing.

That's because pet food makes up a significant part of the total impact from the meat industry, which is itself one of the most environmentally damaging practices on the planet.

Farming insects, on the other hand, provides the exact same nutrition while having a fraction off the environmental impact.

I had the idea for this while I was at university.

I spent the last two years creating extensively testing and selling my product, and I'm convinced it is the future of pet food.

I will welcome any questions, but first, would you please come and help yourself to a bag of treats from Max here?

Dog treats made from insects is the business idea.

Ross Lamb and is hoping will fly with the Dragons.

He's offering a 10% equity stake in his company in return for a £50,000 investment.

I know I've got very good sales, and it appears Max, the demo dog, has almost closed the deal already.

Taylor Giovanni is first to quiz the young entrepreneur, and he wants to know about the bugs that are the basis of his business.

Just cricket, cricket flowers about brown powder there, if you can see in the table, that's cricket flour on dogs eating bugs.

Is it a big market Maur than dogs eating bugs?

Environmentally friendly pet food is a big market.

For the first time ever, one in three people in the UK fall into the category of either being vegan, vegetarian or flexitarian, which means one of three people actively reduce or eliminate meat from their diet.

So right now, where you selling S I sell online and through about 40 retail shops, you finding them literally one by one, talking to them and selling your product or you selling through a distributor.

In the last year, I've had about 20 shops stopped me just because they heard about me through word of mouth.

Yeah, at the moment got 65 Bean only advertising for three months.

So last month, how many signed up last month?

So it's got a bit of traction, but it's not a tractor.

I'm yet to really advertise, and I've spent two years validating that dogs like them orders willing to buy them on the markets there.

And the reason I'm here is I think this is a ready to scale product.

Despite a spirited defense of his achievement to date, Deborah Megan discovers the entrepreneur subscription service has yet to take off Ross's dream Dragon.

Sarah Davies seemed a little squeamish about his product initially, but it appears she's warming to his cricket based creations.

I really like you were like the product like the story, but then I was a little bit worried about the numbers.

I think I've just been limited by the only kind of marketing I've been doing his word of mouth by turning up to markets and events.

Demand, I think, is definitely there for a product like this.

I don't think enough people know about this to say it's selling itself Russ, for the last 12 months.

I'm actually going into the dog is not not in this area, but more toys.

One part of me says Twenties widened my horizon.

Machine is a machine called a rotary molding machine, which means instead of having to roll out viscous, I think I've ruled out about 350,000 biscuits by hand, which is horrible.

I'm looking to keep it in the house just for the very short term in house mineral in little house in the family home.

I'm sure my mom's put more labels on packets than she wanted, but what concerns me is you've got to go a long way to do any real turnover.

The entrepreneur reveals a home based business with Mum manning the production line, which is currently only just moving in first gear.

But it appears Peter Jones now wants to discuss one of his common bugbears.

The valuation Ross is placed on his company.

So sounds in the last 12 months has been about £10,000.

Yet you currently valued the business at 50 times turnover.

Is there a business that you believe that I could ever get that sort of valuation?

Uh, I appreciate this is at the higher end of evaluations.

The reason I put it there is I've been informally approached by some high wealth individuals who expressed an interest in investing.

And that's the valuation that they've put to me.

Just have just had the the first meetings or telephone conversations.

So I thought you said that They said that they valued the business at 50 times.

They expressed an interest in investing, and they they put forward on investment of 50 times and you didn't buy their arm off.

Well, uh, my first meeting with one of them a week ago.

Seriously, if you have any inkling that that is a possibility, you need to take their money very quickly.

And if they continue to invest it that level, they went behind net worth individuals for very long.

Have you spoken to some of the bigger players that might be able to buy volume?

I was recently approached by pets at home who has to place a test order.

To be honest with you, Did he call them yet?

I didn't get through to the exact buying The person I phone.

Yeah, I definitely Well, I'm not gonna just leave it.

But if there's a disconnect for me is that you spent two years of your life doing this and yet you don't seem to have that.

Yeah, I admit the last two years sales haven't been my main focus, so you'll be the best kept secret.