Dragons’ Den reject steams ahead with expansion
On Sunday evening (August 14), Faheem Badur saw his pitch for £130,000 for a 10% share of his wholesale, restaurant and sauces business, rejected by Dragons after they found it confusing.
Badur has run Birmingham-based Direct Wholesale and Investment Group since 2010 which supplies the restaurant and food sectors. This week he is to open the sixth franchise of Perio’s, the global food restaurant chain in Dublin and wants to launch his own range of Perio’s sauces into retail.
However, the Dragons found his pitch, which sought an investment to expand the restaurant business and launch Badur’s sauce range into retail, confusing.
Confused
Dragon Deborah Meaden raised concern about the pitch: “I am confused. Would you like to explain turnover, gross margin, overheads and net profit?”
Badur explained that there was a £1.5M turnover from the wholesale business and net profit of £65,000. He also expected a £500,000 profit with the franchise restaurant operation.
“This is one of the most frustrating pitches I have ever been through,” Meaden added.
Dragon Peter Jones was equally frustrated and said: “I am not impressed. I think this is something my kids could put together as a menu.”
Sarah Willingham said she believed his £1.5M turnover was “bloody brilliant” but said she had no concept of how she would make money out of the business.
Business expansion
But, despite the rejection, Badur is steaming ahead with his business expansion and said he has already received inquiries from interested parties after the show.
He told Food manufacture.co.uk: “We are still expanding. We are just opening a franchise in Dublin, Ireland.
“The Dragons’ Den was edited badly as I was in there for 2.5 hours. It was a bit intense.
“After Dragons’ Den we have received some franchise inquiries, so it has been good for us.”
He said it was a challenge to explain the business model to the Dragons.
“It was a bit more complex [compared with] the usual business model as we are quite established as a wholesale and retail business,” he said.
“I think on the whole it was a good experience.”
