The Dragons battle over a surprising investment – Dragons’ Den


Sam’s left a teaching career to set
up a company that’s already having quite an effect on his clientele. So, we’ve had a couple of people
vomiting. We’ve had a couple of people pass
out every now and again. Yeah, it’s not conventional. Sam is hoping the five Dragons have
settled stomachs and appetites to invest. I think their first
impressions may be a bit shocked. Oh, my God. God. Oh, dear. Is this the solution to
everlasting life? Hopefully they’re not too put off by
the smell. I just hope this guy’s name isn’t
Hannibal. SHE MAKES HANNIBAL LECTER SLURP Hello, Dragons. My name is Sam Piri,
and I’m here today to ask for £90,000 in return for 5% of my
business, the ITAE Group. The ITAE Group
started its journey back in 2015 when I was a secondary school
teacher and we’re now operating across
schools, hospitals, colleges and universities throughout
the UK. In terms of what we see here, this
is Vivit, one of our trademarked concepts and
he allows us to deliver anatomy and physiology training to nurses and
like disciplines. So, for example, here we have the
thoracic cavity. It’s quite good in the sense that it
allows health care practitioners to be able to really contextualise and
to see the organs in situ, which is something they don’t usually get as
part of their routine training. I’m just going to remove the heart
specimen so we can see what a surgeon may do during a routine
procedure. Can I just check, are they real
organs? OK, so, all of the specimens that we
use are harvested from pig
specimens. No animals are raised specifically
for our events, so normally this
would be incinerated as a waste product,
so we add value to that and stop it just going to landfill. And with
your investment, hopefully we can start looking to
get into America and also into
mainland Europe, so if you’d like to come up
and have a look little bit closer at some of the specimens, and then
after that I’d be happy to take any
questions. An anatomical pitch from secondary
school teacher turned entrepreneur
Sam Piri. Ooh, God. Actually, that turns my stomach. I can’t do that. No? Can’t do it. It’s the smell. Have you got a sick bucket
somewhere, just in case? Sam’s bringing physiology classes to
life, using synthetic bodies and
real animal organs. You can see the
stomach, the liver… That’s everything from brain to
anus. Oh! He’s asking for a £90,000 cash
injection in return for a 5% stake in his
body research enterprise. Heart rate? Beep, beep. If you pop your gloves into the
other bucket, there’s some hand gel on that shelf. Fresh from his first open-heart
surgery, Peter Jones now wants to dissect the
business. Well, thank you for that. Thank you. It’s incredibly educational. I want to check from what you’ve
said, though, whether this is a
business? Yeah. So, how does the business
work? Where does your income come from? OK, we have three flagship projects
that we operate. We have what are called direct
bookings, where institutions book
events direct with us. The typical
charge for that, on average, is around about £2,000 for a one-day
experience, and that’s for around between 60-100 students. We then have what we call our
ticketed approach, so we market the events to the
general public and to health care practitioners and to university
students. Those events tends to be for 115
capacity and they will raise around about £15,000 in turnover per
one-day event. How much did you say? £15,000 per
one-day event. 15,000. Yeah. That’s huge.
Yeah. We then have the Anatomy Lab Live. That £89 a ticket for the evening.
That includes a two-course meal and dinner and dissection, so they
get to dissect the head, the brain and they practice surgery. I just can’t imagine me going home
to say, “We’re going to go out for dinner,”
and she’s going to go, “Oh, that’s great, darling. Yeah,
lovely.” And then we end up… ..somewhere for dinner where some
body is being dissected. The dinner and dissection has been
really well received. I mean, we get… Every venue has sold out across the
country. 150 tickets. But that’s… Am I just on my own here? It feels
kind of weird. Actually, I agree, because today
people want experiences. It’s all about experiences. Younger
generation want to feel and do different things and something like
this, although crazy as it may seem, it’s an experience you can talk
about, right? And say you’ve done. But who’s your
audience? So 80% of the audience are health
care practitioners in general. You don’t get cannibals turning up
your events? Erm… Vampires? No. We’ve not had any vampires, no. Does anyone leave? We’ve had a
couple of people that have said it’s too much for them. Apart from
that, it’s just very well received. Sam’s pungent but profitable
business has captured the attention of the Dragons. Health care tycoon
Tej Lalvani wants to take a scalpel to the scalability of the business. How many events can you run a year? So, at the moment, we probably have
around about 200 what we call
active days. We hope get that up to around
about 330 active days in the next financial year. But you could scale
up substantially more than that if
you wanted to? Yeah, yeah. Can I ask you about the
US? Have you got any competitors there? As far as I’m aware, I can’t see
anybody doing that in the States and this is kind of why I want to
move quite quickly in terms of
getting this product out there. Actually, I
agree, because what I think is, you need to
grow quickly, because you’ve got a unique idea. You need to be everywhere. Yeah. In
the UK, but I think internationally, as
well. A standout product in an untapped
market – two things that have pricked up the
ears of Tej Lalvani. But Touker Suleyman wants to flesh
out the entrepreneur’s motives for entering the Den. I’m trying to work out, what does
Sam want from me? He wants you to donate your body for
research. He wants to cut you open. I could do
that, I could do that. What I’m asking myself is what value
can I add to your business that would encourage me to invest in
you? I think, basically, in terms of
planning and executing this… I was a teacher. I have developed business skills,
because I come from a family that
have got businesses… Get to the point. So just… If you’ve got access to
contacts, in a sense, guidance. Right, contacts. So, what sort of
contacts would you want from me? Press and media contacts in the
States, anything to make audiences in the
States purchase tickets. In terms of contacts, I mean, as you
know, I run a vitamin company, a health care company. Yeah. We’ve got direct connections with
over hundreds of thousands of
doctors worldwide, so what you need is to be
plugged into that network, as soon
as possible. And I believe I’m that partner to
help you. So, I’m going to give you an offer. OK, Tej. I do believe you’re going to need
more than £90,000. So what I’m willing to do is offer
you £120,000… But I want 25% of your company. Tej Lalvani makes an early play for
Sam’s company, offering up all of his medical
connections and some extra cash, but asking for a fivefold increase
in equity in return. With one offer already on the table, Jenny Campbell is ready to give her
view on the medical business. Sam, for me, you don’t need to do
any more in terms of, “Is this an
investable business?” Absolutely,
this is an investable business. You are fabulous. So for me, it’s then about what
value could I add to that? And much as I would like to be part
of this, I feel that there is a better Dragon
in the room who is already in health and wellbeing, so, with regret but
with my best wishes, I’m out. Sam. Yes. You are very investable. And this is great, however, I can’t see how I can add
that much value in your business. But you have a great business. Unfortunately, I’m not going to
invest today and I’m out. A double Dragon dropout
means Tej Lalvani’s position is significantly strengthened. But Deborah Meaden isn’t ready to
throw in the surgical towel just
yet. Well, I think our Dragons have
turned into pussycats because… Because if I really like something,
I’m going to go for it. It is fair to say, of course, I won’t pretend that I’ve got the
contacts directly into the health industry that Tej has, but I
don’t think that’s all you need. I think, certainly in terms of
growing businesses, quickly taking them internationally,
you know, I can absolutely add value on that. It’s a well-trodden path for me. So, I am going to make you an offer. And I’m going to offer you all of
the money… ..for 15% of the business. Thank you, Deborah. Deborah Meaden sniffs out a business
with potential and makes her move. Will Peter Jones want to join the
postmortem party? I understand what you’re doing. It’s very much focused on events.
Yeah. And from my perspective, you need to have somebody who has
experience with events and managing those events. And, obviously, I’m lucky enough to have been
involved with a couple of businesses that do
that extremely well. So I kind of understand this market
of where you need to go. I’m interested and I’m going to make
you an offer. OK, Peter. So I’m going to offer you all of the
money… Yep. ..in return for 20% of the business. Right, OK. That puts me in a
predicament. Sam, while you’re thinking about
that, I actually entirely disagree with
Peter’s school of thought. I think that, you know, if you want
to run a circus, and entertainment, maybe that’s the route, but having
that network where you have access to the top doctors internationally
is key for you. I don’t know in what way that
disagrees with me. Well, because we’re talking about
medical colleges, hospitals, we’re talking about having the
connection to the right doctors and
that, I believe, could be what could
accelerate your business. Can I ask if any of the three of you
would be interested in doing
anything together… ..percent-wise? Sam, look, I mean,
this is my area. Yeah. I don’t think you need another
Dragon. I’ve just launched in America
another 7,000 stores nationally. I believe that if you want to grow,
I’m your guy. For me, I’m happy, you know, if I
had 10% for half the money. And Deborah had 10%. Me, too. Yeah. Then you have got two for the price
of one. Yes, you know, Peter and Deborah can
join forces, but sometimes more Dragons dilute
the focus. Yeah. Just so you know, no-one complains
of Peter or I diluting focus, do
they, Peter? No. Just give me a moment. Sam now has two offers to consider. Tej Lalvani is asking for 25% of the
company in return for all his health care
connections, plus some extra cash… ..whilst Peter Jones and Deborah
Meaden are happy to partner up for a slightly smaller 20%. Both deals mean giving up a sizeable
stake in the business. But Sam isn’t done negotiating yet. OK, after consideration, would you
consider 14%? That’s a nice try. For me, that’s a no. 25% is my final offer, so I’m going
to stick to that. I would personally be willing to
invest half the money for 10%, but when my funds are repaid, I drop
to 7.5%, but it would have to be that Deborah
would accept the same. OK. I’d be happy with that. I’d like to accept your offer, Peter
and Deborah. I’m sorry, Tej. Excellent! Right,
brilliant. Well done. Well done, well done,
you. Thank you. Really good. Didn’t see that coming. The entrepreneur exits the Den with
a tag team of the two longest-serving Dragons and £90,000 in the
business bank account. I was shaking inside at one point. My palms are sweaty, but held my
nerve, stood my ground like you do
in business, made a deal and hopefully great
things will start to happen. Your whole brand is about keeping
people alive, not dissecting them. Well, yeah… If you had lowered
your stake to the same level as Deborah and Peter… He still
wouldn’t have got the investment. He might have had a chance! But, Tej, I appreciate you trying. That was great.

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