‘What just happened?’ Couple secure ‘amazing’ £85,000 offer in Dragons’ Den first | Personal Finance | Finance
Joel and Nikki Buckley own Eco Union Ltd based in Exeter which makes sustainable decorating tools for the trade and DIY sector. The married couple pitched their Ecotray product to the Dragons and were looking for an investment of £85,000 for a 10 percent share of their company.
The couple from Exeter have a background in building sustainable businesses and bought DIY company Eco Union in 2019.
In the last two months they’ve turned over £149,000 and said they were on the cusp of signing deals with Jewsons and Dunelm.
Although they manufacture all kinds of painting and decorating products it was their Ecotray that they were keen to show the dragons.
Not only can these carbon neutral eco trays be reused over and over again, but they can also be discarded with a clean conscience because they decompose naturally, unlike plastic.
Peter Jones was the first dragon to make an offer, offering all of the money for a 25 percent share in the business.
This was quickly undercut by Deborah Meaden who wanted a 20 percent share in the company.
Dragons Sara Davies and Touker Suleyman were also impressed, offering to join forces with Deborah or Peter to take 10 percent.
The only dragon that didn’t bid was newcomer Steven Bartlett who said the only reason was because he could see how passionate Sara Davies was.
Nikki and Joel finally accepted Deborah’s offer after first quizzing her to see if she would be willing to partner with Sara.
Deborah replied that she’d love to go into business with Sara at some point but thought this opportunity was just for her.
Speaking after their pitch, Nikki turned to husband Joel and said: “What just happened? Amazing!”
Dragons’ Den continues next Thursday on BBC One at 8pm.
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