Sara dodged a bullet there. Contrary to his own self-estimation I doubt very much he is a good businessman. He didn't even know that owing money is debt. He would be impossible to work with.
Yes his attitude was something to behold; I imagine he will call that self worth and confidence. He knows that loans are debt but he is the Director and this is a Directors loan he seems to be refusing to accept that its something as negative as debt. Thing is he is competent with his figures, speaks very well and gave a very confidant pitch. And the product looks very useful.
I think he didn't want Sara on board at all. He was probably aiming for another dragon or dragons and Sara's offer meant nothing for him but he didn't want to offend her.
They registered a loss of £60k in 2020, and £8k in 2021 on sales of £81k and £77k respectively - huge reductions in global travel probably didn't help.
True, i think without rona they would have made quite better figures. But still probably not as much as if they had Sarah on board. The refusal to even try to counter offer tells alot.
You need to review those figures correctly. In the latest 2021 figures, they made a net profit of 52k (check page 8) which reduced the accumulated losses to 8k over the lifetime of the business (shareholder funds). On that basis it looks like they might avoid dissolution.
He's offering a product designed to keep your suit in top form with no creases yet he came dressed in a shirt that was creased. He was silly to not negotiate with Sara, not a wise man.
This guy would be awful to deal with! All he achieved was to make himself look like someone with no vision or forward thinking, and someone that would never be a positive business partner. He should not have taken 50%, but his refusal to even discuss a counter and also his stubbornness over calling his debt a debt showed his true colours. People like this do succeed sometimes, like Steve Jobs, but you need a world changing technology and not a bag. Imaging being married to this guy.... 'Yes I spilt the milk all over the kitchen, but you bought the milk and this is your fault'.
I would have countered 51/49 in my favour reducing to 25% after the investment was repaid which would still be very lucrative if the targets Sara mentioned were hit.
I think I would've as well because 100% of nothing is nothing. But I also think that the dragons were wrong and their analogy of this product's potential.
@@BenjaminGoose No. The company would become more valuable. The investment would then equate to less and less of a percentage than the original percentage asked for as the company valuation increases and 25% at such a point would be more than generous and still equate to much more of a percentage than what the original investment would then be worth. They’ve made their money back so it’s pure profit after that and would still be plenty anyway. If it got to 3 million like she said then that’s still 750,000 profit every year just on 25%. Plenty. He didn’t set the company up to be 50/50 partners with someone in it for the rest of the company’s existence/his ownership.
I think he was only there to advertise his product for free and wasn't really looking for a deal. May be the reason why he declined Sarah's offer. 🤷🏽♂️
I think they both know, that neither party will agree on a middle ground, but still it cant hurt too try. That being said Sara got lucky here, 2020 cant have been good for sales, be it people working from home, or a total lack of weddings (and similar events).
I would imagine there would be MORE events if people are working from home, people getting bored and thinking about trying new things and going to new places.
Are you talking about the "debt" thing? Because it absolutely IS classed as a business debt on the company's books. Just because he has no intention of claiming it back doesn't mean the definition changes.
Incredibly terrible business acumen to not even put a counter offer. He owns 100% or close to with his crowdfunding so why is he so stringent on his ballooned valuation?
Sorry, but that's ridiculous. The Dragons (particularly Peter) almost invariably make an offer and then refuse to reduce the share they're demanding. Now they're complaining when the inventor doesn't want to negotiate. Talk about "one rule for me and another for you "!
I get the feeling the entrepreneur wasn't 'looking' for a dragon's investment but rather a public exposure for his product for free. Coz why would he refuse to counter offer? The least he would have received is a no. Real weird.
"Your offer really doesn't reflect blah blah blah..." So make a counter-offer then. She even helpfully reminded you that you can do so. What an absolute mug 😂
@@KaninTuzi -this product is highly suited ,lol,to be advertised on T V marketing channels which is Sara's forte and the cornerstone of her successful crafting business particularly in U S
These people get too attached to their ideas, they just can't deal with giving away big percentages, they don't see that you're better off making 50% of a million dollar company than 100% of nothing working your arse off selling stuff out of your garage.
@@ifwecouldvote yeah, of course it's not but you would think it's a better chance? It's the same reason you often see crazy valuations, they work them out back to front, they'll want $x then think oh, I only want to give away 5%, they don't realise that values their non revenue producing business at $1M+. If they thought value first they'd realise that they really do need to give up a higher % anyway.
A sensible counter would have been 30% dropping to 20% when repaid. Shows he wasn't planning on going much higher than 10% if he couldn't even entertain negotiating.
@@harolddecapodian2308 I agree, he was entertaining sweet ideas about Touka investing and could not change his thinking. I think he is difficult to work with anyway.
@@JIKitty Especially with a product that is geared towards the likely audience... He already gained simply by being on the show, how much would be difficult to estimate, but it wouldn't be zero... Especially with at least one dragon willing to put money in.
He could have still made an absolute fortune with Sara he could have made a fair counter offer and never need to work ever again in 2 years what a shame, he seems abit uncomfortable to deal with so Sara definitely dodged a bullet !
This guy seems very narrow minded - unfortunately for him! He wants Touker, wouldnt even negotiate with Sara, what a spodge. Will be hard for him to make his business a success after this...
He came in with the mindset of having Touker as a close business partner. But Touker insulted his product and remained silent for the rest of the time. He wanted no one else.. Just Touker and his office spaces
He felt he was too good for her. The business is worth -60k. I think with her it be worth at least a million. He have more but he was too greedy over a bird in the bush.
Why ? Because he stood up for himself, when the Dragons made a remark about the financial dynamics he is allegedly in (having debts from taking on investment funds, which he disagreed with)??
That's too far apart still.. Even with your metric, giving her 20% for free means she hasn't even invested money If made sense for him not to negotiate
I THINK what he was saying is he doesn't want it back. But he doesn't understand unless he wipes it off on record, his company is making 10k a year from a 150k investment or whatever he spent himself that will show as debt 😅 I'm not sure the dragons explained well enough, they hardly every do they just assume everyone knows business terms and lingo, that's essentially the dragons day job now, and the people they see on this are mostly noobs, so they could try explaining themselves a bit better 😅
The dude made a response video th-cam.com/video/JcQb7yyOoKI/w-d-xo.html As hard as it was to accept the valuation, it would have grown his business to be more than he has now.
@@ifwecouldvote you do know dragons den is a BBC show...they should all be on iPlayer, they don't sell individual series of dragons den anymore, don't think they have since series 4, nice try though 😅
Around the 4:30 mark I was out. Yes it is debt and its not splitting hairs, its being accurate. Sara was over generous, but had a lucky escape not to be involved with this arrogant sod.
Whenever people like this even refuse to make a counter offer, I stop believing they even wanted a real investment and are only there for the free publicity. Because ok… you think she‘s way off? Fine! Gibe her an offer you would consider off! Worst case scenario, she says „no“! Best case scenario (if you were actually looking for an investor) you‘ll find common ground! But obviously, if you don‘t want their investment in the first place, you don‘t want to risk finding common ground.
It feels unfortunate that Patrick would value his own talents and capabilities at such heights whilst being dismissive about the contributions and connections that Sarah would bring. He also failed to realise the learning opportunities that would open up for him to earn a greater degree of success in his business life. At least he appeared sincere and polite.
I think it seemed like a good product but he came across quite obstinate. I think it seemed like a bad offer but she maybe could have done a lot with it. Sara is a good dragon I think; makes up for Jenny who probably made an offer once a season. Sara is in there all the time.
At the end of the day, if you think about it, he would be getting orders, his business will be growing, he'll be going into the black on the accounting books and he'll have cash to pay his debt and bills if he accepted Sara Davies' offer.
Directors loans are not debt, every small business person does it. They are the salary they are aiming to pay themselves - if they can't afford to pay themselves a salary - they don't pay themselves. Its for tax reasons.
@@IAmTheJayster okay, but I will tell you know I work, I pay myself expenses, then a year end bonus, based on performance. The directors loan figure is a maximum allowance payable, and if there is a rough year - I dont pay myself the bonus. I have to pay myself expenses, but I don't have to write off the directors loan monthly or anything. Its is purely for tax reasons.
@@SoSo-li6dn i know this, they weren't criticising that he had one they were just classifying it correctly and he took offence to that. Him then proceeding to call it a liability while acting awkward probably didn't help the situation
@@IAmTheJayster yh, he should have a better agreement already in the company. I pay myself 12.5k director loan. And 10%net profit. That's limited to 25k a year. He should have just said that he is taking expenses atm.
Just accidentally turned on subtitles. I’m not disappointed. The algorithm understands British English exactly the way I understand it. A bo a wo a, mate?
Because of cost per acquisition is high sales are not sales that’s new I know it affects profitability but not sales ..he was raising brand awareness which smart move
While, a Director’s loan is a debt on the books, the guy was trying to say that it was money used to set up the business and he was not looking for it back in the short term. In other words, he would have written it off to get the right offer from a Dragon. This lark of offering 50% of someone’s business is such a slap in the face, the guy was right to turn it down. Money, in this instance is not everything. A greedy offer (normally a Touker gambit) deserved short shrift.
1. He obviously has no intention of writing it off, hence why he not only didn't say that - he specifically said that he DOES have an intention of collecting it in the future. 2. He was offered 50% because of the way he structured his offer. The valuation Sara offered was exceedingly fair - she overvalued it if anything. Why on Earth do you think a garment bag, that anyone can just copy, that doesn't currently make any money and has no recognisable brand is worth significantly more than £150k?
Once he argued the point it wasn't debt, there was the red flag in the personality. Clearly not able to work with. I would not have even bothered with the offer. Quite rude and arrogant.
His body language is so unattractive. He looks so in his head and unconfident, he should be ashamed of himslef for rejecting Sara’s offer, which would have made him a multimillionaire. Sara dodged a bullet there
![[LIVE] : ONE ลุมพินี 76 | คู่เอก "ผึ้งหลวง vs สมิงดำ"](http://i.ytimg.com/vi/9SBshmGQOIM/mqdefault.jpg)
Dragons: ‘directors loan is debt’
Entrepreneur: ‘It’s more like a birthday present I have to give back’
Haha nice one
Do you have to book interest on a director’s loan?
@@astronemir Look let's not split the Atom.
Sara dodged a bullet there. Contrary to his own self-estimation I doubt very much he is a good businessman. He didn't even know that owing money is debt. He would be impossible to work with.
This would have suited Sara .
@@robertkustos2931 The product would. The man himself would not.
Yes his attitude was something to behold; I imagine he will call that self worth and confidence. He knows that loans are debt but he is the Director and this is a Directors loan he seems to be refusing to accept that its something as negative as debt. Thing is he is competent with his figures, speaks very well and gave a very confidant pitch. And the product looks very useful.
Big ego
@@AntiMatter930 The Den is full of "Big Ego's, both in and out of the chairs...Synonymous with the big bucks industry ...
He’s so touchy. I wouldn’t wanna work with someone like that.
gathered that in the first 10 ten seconds
you know what they say
stay sitting down.
Same
2 Things:
1) Sarah is fine
2) Was Touker even out?
That's what I thought, they must've missed it out when editing
Yeah sometimes when all dragons go out, they will cut out a few saying it to save time.
So it saves time for viewers to not hear Evan's voice stating the obvious
What u mean Sarah is fine lol
@@localshopkeeper9517 👀
I think he didn't want Sara on board at all. He was probably aiming for another dragon or dragons and Sara's offer meant nothing for him but he didn't want to offend her.
He did say he was aiming for Touker
Yeah, it’s clear he only wanted the Toukster and no one else will do
Something seems abit off with that fella, she dodged a bullet for sure.
Listen AlanCock, in this life you're smart fella or a fart smella
This guy came off as really unprofessional to me. I feel like he may have just wanted to advertise the product on the den.
Product Engineer
yes
Nightmare to work with I bet
They registered a loss of £60k in 2020, and £8k in 2021 on sales of £81k and £77k respectively - huge reductions in global travel probably didn't help.
Cheers 👍
True, i think without rona they would have made quite better figures. But still probably not as much as if they had Sarah on board.
The refusal to even try to counter offer tells alot.
You need to review those figures correctly. In the latest 2021 figures, they made a net profit of 52k (check page 8) which reduced the accumulated losses to 8k over the lifetime of the business (shareholder funds). On that basis it looks like they might avoid dissolution.
Not all hero's wear capes
He's offering a product designed to keep your suit in top form with no creases yet he came dressed in a shirt that was creased. He was silly to not negotiate with Sara, not a wise man.
You are very polite. I would have a few more choice words to describe him.
This guy would be awful to deal with! All he achieved was to make himself look like someone with no vision or forward thinking, and someone that would never be a positive business partner. He should not have taken 50%, but his refusal to even discuss a counter and also his stubbornness over calling his debt a debt showed his true colours. People like this do succeed sometimes, like Steve Jobs, but you need a world changing technology and not a bag. Imaging being married to this guy.... 'Yes I spilt the milk all over the kitchen, but you bought the milk and this is your fault'.
"Interesting...Touker's in the clothing world" Another insight into Tej's incredible mind.
😂
He didn’t want her as a business partner, simple. That’s why there’s was no counter offer, in case she accepted.
Yep likely 🤔
I agree
looks like hs came for Touker and didn't want the others
scrubs rising
He didnt wanna get bossed around by a northerner!
I would have countered 51/49 in my favour reducing to 25% after the investment was repaid which would still be very lucrative if the targets Sara mentioned were hit.
So the dragon should be punished for helping the product be successful, by giving back half their shares?
I think I would've as well because 100% of nothing is nothing.
But I also think that the dragons were wrong and their analogy of this product's potential.
@@BenjaminGoose No. The company would become more valuable. The investment would then equate to less and less of a percentage than the original percentage asked for as the company valuation increases and 25% at such a point would be more than generous and still equate to much more of a percentage than what the original investment would then be worth. They’ve made their money back so it’s pure profit after that and would still be plenty anyway. If it got to 3 million like she said then that’s still 750,000 profit every year just on 25%. Plenty. He didn’t set the company up to be 50/50 partners with someone in it for the rest of the company’s existence/his ownership.
@@notapplicable8136 Agreed.
I think he was only there to advertise his product for free and wasn't really looking for a deal. May be the reason why he declined Sarah's offer. 🤷🏽♂️
Jeeez that’s some seriously dramatic background music for the bag price reveal moment 😮 nearly fell off me sofa
😂 😂 Thanks so much for making me laugh. I read it in Mrs brown's voice!
Surprised Peter didn't brutalise the guy for dressing like he's off to the pub for a game of pool.
You do know what "brutalise" means...right? 😄
haha
😂
He couldn't dress any skater because his suit was in the bag.
Peter stopped doing it at some point, they all dress like this now
I think they both know, that neither party will agree on a middle ground, but still it cant hurt too try. That being said Sara got lucky here, 2020 cant have been good for sales, be it people working from home, or a total lack of weddings (and similar events).
I would imagine there would be MORE events if people are working from home, people getting bored and thinking about trying new things and going to new places.
@@TheManInBlueFlames yes but he needs to have survived 2020, and have his logistics in good order
@@TheManInBlueFlames sure more events and twice as many mandated lockdowns.
Guy is impossible to work with. Couldn't see the bigger picture. I think this business would've come with a lot of "baggage ".
Apparently everyone there was a mind-reader since they all knew Touker was out without him even saying anything
Lol.. I thought the same thing, Mateo 😁🤣
How dare he disagree with Debbie. Debbie knows all and sees all.
Are you talking about the "debt" thing? Because it absolutely IS classed as a business debt on the company's books.
Just because he has no intention of claiming it back doesn't mean the definition changes.
@@oxymoron02 the definition doesn't matter when the intention isn't there, she was just being difficult
@@EXILE1 4:00 Did you listen? There absolutely is intention to take it back and it absolutely is classified as debt.
if he doesn't intend to claim it back why does he not just put that money directly in the business? like why is it a loan
@@YummyAnimations He does intend to claim it back; he said as much in the video. I timestamped it.
Free advertising, never wanted a dragon 🐉
No counter offer - weird decision.
Incredibly terrible business acumen to not even put a counter offer. He owns 100% or close to with his crowdfunding so why is he so stringent on his ballooned valuation?
Sorry, but that's ridiculous. The Dragons (particularly Peter) almost invariably make an offer and then refuse to reduce the share they're demanding. Now they're complaining when the inventor doesn't want to negotiate. Talk about "one rule for me and another for you "!
You clearly haven't watched the one from a few years ago who ruthlessly tried to cut out the Dragons with their reasonable offers...
Always make a counter offer! To simply walk away without giving it a go is monumentally foolish.
He should of said 40% dropping to 20% when repaid.
Pretty clear that he did not even want to work with her. He would probably have done 40/20% with Touker.
Im pretty sure Tucker Suleyman never declares him self out during the whole thing and nobody noticed 😅
Yes i thought the same thing
I'm sure he did at some point, but they forgot to show it. These are edited, so they only show a small part of the interactions.
Edited.
I assume he just came on for free advertising and was scared when Sara showed interest
Touker has so much free office space still
I get the feeling the entrepreneur wasn't 'looking' for a dragon's investment but rather a public exposure for his product for free. Coz why would he refuse to counter offer? The least he would have received is a no. Real weird.
Either that or she was not one of his target Dragon so he just made excuse and left.
Absolutely
Maybe he hates women.
"Your offer really doesn't reflect blah blah blah..."
So make a counter-offer then. She even helpfully reminded you that you can do so. What an absolute mug 😂
He did his research on the dragons and probably felt that she was not the right fit anyhow
@@KaninTuzi -this product is highly suited ,lol,to be advertised on T V marketing channels which is Sara's forte and the cornerstone of her successful crafting business particularly in U S
@KaninTuzi The opposite, actually. He didn't research the Dragons beyond the first paragraph.
I wonder how many segments they film in one day? Sarah Davies is wearing the same purple polka dot dress in every segment I've seen her in!😄
they wear the same outfits on different days so they can use the B roll wherever they want
They all wear the same outfit for the entire season - Sara's dress just stands out more
They have DD🐉uniforms...
These people get too attached to their ideas, they just can't deal with giving away big percentages, they don't see that you're better off making 50% of a million dollar company than 100% of nothing working your arse off selling stuff out of your garage.
It's not a foregone conclusion. The dragons businesses' are hit and miss.
@@ifwecouldvote yeah, of course it's not but you would think it's a better chance? It's the same reason you often see crazy valuations, they work them out back to front, they'll want $x then think oh, I only want to give away 5%, they don't realise that values their non revenue producing business at $1M+. If they thought value first they'd realise that they really do need to give up a higher % anyway.
A sensible counter would have been 30% dropping to 20% when repaid. Shows he wasn't planning on going much higher than 10% if he couldn't even entertain negotiating.
Not with Sara anyway
@@harolddecapodian2308 I agree, he was entertaining sweet ideas about Touka investing and could not change his thinking. I think he is difficult to work with anyway.
I honestly don't think this guy was there to make a deal in the first place and was just there to get some free marketing for his product.
That's totally legit though. I would do the same. :D A tv ad with that much viewers would otherwise cost at least 100k.
@@JIKitty Especially with a product that is geared towards the likely audience... He already gained simply by being on the show, how much would be difficult to estimate, but it wouldn't be zero... Especially with at least one dragon willing to put money in.
he would be difficult to work with....very temperament approach
He could have still made an absolute fortune with Sara he could have made a fair counter offer and never need to work ever again in 2 years what a shame, he seems abit uncomfortable to deal with so Sara definitely dodged a bullet !
This guy seems very narrow minded - unfortunately for him! He wants Touker, wouldnt even negotiate with Sara, what a spodge. Will be hard for him to make his business a success after this...
But the show has given him exposure. That’s the benefits a lot of them get from appearing. So it’s not always a bad scenario.
The business will fail. He will regret the day he said no to Sara.
It already has so far.
He came in with the mindset of having Touker as a close business partner.
But Touker insulted his product and remained silent for the rest of the time.
He wanted no one else..
Just Touker and his office spaces
I just finished up rewatching one when this popped up, thanks for keeping the addiction going guys 👍
Clearly didn’t really want a deal, he just wanted the air time to promote the business
Oh my God another person scorning Sara. It's so uncomfortable when they make it so obvious they don't want her
I wonder why they don't😠😠😠. She's so genuine and kind. I'd want an investor like him.
@@TheAvira123 Shopping channels are generally considered trashy, and that's all she wants to do.
@@Nashy119 ahh I see. I'll look her up. I didn't realize she was into them shopping Channel gigs
@@Nashy119 -has worked very successful for her in the crafting business .
He felt he was too good for her. The business is worth -60k. I think with her it be worth at least a million. He have more but he was too greedy over a bird in the bush.
I can imagine this guy being difficult work ! Awesome suit bag though !
Why ? Because he stood up for himself, when the Dragons made a remark about the financial dynamics he is allegedly in (having debts from taking on investment funds, which he disagreed with)??
TH-cam adverts are getting so long and unskippable now. Luckily they can’t control my volume and whether I’m actually watching the screen……. Yet
I use TH-cam Music, so premium was a no-brainer for me.
The butler is late with my lunch today
Only on the show for advertising . . . .
Man needs some personal development - I wish him well for sure
what a terrible businessman! I mean, an open door to TV shopping channels............ she reduces her % and he could earns millions!
Guy was definitely just there for the pr, not even wanting to make a counter offer cmon bro
I have a feeling he wouldn't listen to anyone or he would drive people crazy
He should counter with 40% then 20% after the dept is payed
That's too far apart still..
Even with your metric, giving her 20% for free means she hasn't even invested money
If made sense for him not to negotiate
He should just go home & not of wasted the dragons time 👍🏻
@@jeffledger846 that’s essential that he did though
It’s not debt, well it is debt, well I don’t see it as debt, well it’s owed to someone so it is debt, welllll I don’t class it as debt... 🤦🏻♂️
I THINK what he was saying is he doesn't want it back. But he doesn't understand unless he wipes it off on record, his company is making 10k a year from a 150k investment or whatever he spent himself that will show as debt 😅
I'm not sure the dragons explained well enough, they hardly every do they just assume everyone knows business terms and lingo, that's essentially the dragons day job now, and the people they see on this are mostly noobs, so they could try explaining themselves a bit better 😅
The dude made a response video th-cam.com/video/JcQb7yyOoKI/w-d-xo.html
As hard as it was to accept the valuation, it would have grown his business to be more than he has now.
Hey, thanks for the link, Michal.. that was interesting! 👍
Current
Networty £13k
Cash £3
Those millions will be rolling in any day now!
Another re-upload, so many series of dragons den, can't be that hard to get ones that haven't been uploaded to the channel before
@@SUPERSOAKERHATER damn it, you got me 🤣
Well, they want you to buy the series...not get it all for free 😴
@@ifwecouldvote you do know dragons den is a BBC show...they should all be on iPlayer, they don't sell individual series of dragons den anymore, don't think they have since series 4, nice try though 😅
@@pat-rick95 this is youtube...not limited to the UK and a TV licence like iPlayer. Nice try tho.
@@ifwecouldvotefair play, could you send me a link to where I can buy dragons den series 1 to 18 on TH-cam please?
Nice try though 🤣🤣🤣
This guy has major unresolved underlying anger issues.
Probably thought TV shopping would take from the luxury aspect of his product which is 100% correct
Around the 4:30 mark I was out. Yes it is debt and its not splitting hairs, its being accurate. Sara was over generous, but had a lucky escape not to be involved with this arrogant sod.
Whenever people like this even refuse to make a counter offer, I stop believing they even wanted a real investment and are only there for the free publicity.
Because ok… you think she‘s way off? Fine! Gibe her an offer you would consider off! Worst case scenario, she says „no“! Best case scenario (if you were actually looking for an investor) you‘ll find common ground!
But obviously, if you don‘t want their investment in the first place, you don‘t want to risk finding common ground.
Sarah Davies is one of the best Dragon
Way too much money for a suit bag. Also I've seen these products around for years already. It isn't new.
It feels unfortunate that Patrick would value his own talents and capabilities at such heights whilst being dismissive about the contributions and connections that Sarah would bring. He also failed to realise the learning opportunities that would open up for him to earn a greater degree of success in his business life.
At least he appeared sincere and polite.
At £160
No wonder why he has only sold 2,000 over 2 years
Shoes have always been a packing problem
I think it seemed like a good product but he came across quite obstinate. I think it seemed like a bad offer but she maybe could have done a lot with it. Sara is a good dragon I think; makes up for Jenny who probably made an offer once a season. Sara is in there all the time.
Jenny is better!
He didn't want Sara
Sara Davies ❤️
She dodged a bullet for sure. That guy had a thinly-disguised aggressive attitude and was bordering on rudeness.
Pretty sure the guy said peter and the editors added touker's name when he was talking about who he wanted at the beginning.
First time i see enterpreneur insulted by a dragon's offer
Why is it soooo expensive
At the end of the day, if you think about it, he would be getting orders, his business will be growing, he'll be going into the black on the accounting books and he'll have cash to pay his debt and bills if he accepted Sara Davies' offer.
OMG. But his prerogative.
Pliqo London Limited, 10664510, is 11k in debt in 2024. Where are those millions?
4:49 Tej with "bangs"
4:56 Tej without!! 🤷🏻♂️
Liability is a debt 💸
He should have worn the suit that was in his bag..
Directors loans are not debt, every small business person does it. They are the salary they are aiming to pay themselves - if they can't afford to pay themselves a salary - they don't pay themselves. Its for tax reasons.
Then they are writing off the directors loan and paying themselves a salary in that scenario, it is debt from an auditing view
You’re out
@@IAmTheJayster okay, but I will tell you know I work, I pay myself expenses, then a year end bonus, based on performance. The directors loan figure is a maximum allowance payable, and if there is a rough year - I dont pay myself the bonus. I have to pay myself expenses, but I don't have to write off the directors loan monthly or anything. Its is purely for tax reasons.
@@SoSo-li6dn i know this, they weren't criticising that he had one they were just classifying it correctly and he took offence to that. Him then proceeding to call it a liability while acting awkward probably didn't help the situation
@@IAmTheJayster yh, he should have a better agreement already in the company. I pay myself 12.5k director loan. And 10%net profit. That's limited to 25k a year. He should have just said that he is taking expenses atm.
Jesus, Touker has been on the pork pies
Coming from a guy with that username, we all know what you look like 😂
how well spoken are these people.
Where do you put your shoes??
Maybe he just didn't wanted Sara, and that was the polite way to say it?
Touker is great. A master of everything…. Knowledge of everything… 🤣
5:03 Toucan: 😮🎉 "How much?!?"
Touker laughing 😃
Just accidentally turned on subtitles. I’m not disappointed. The algorithm understands British English exactly the way I understand it. A bo a wo a, mate?
Thought his product was too high end for tele-shopping, that's why he didn't counter offer.
Bang on queue for lunch time
Because of cost per acquisition is high sales are not sales that’s new I know it affects profitability but not sales ..he was raising brand awareness which smart move
£120 - £160 rrp per unit.
No thanks.
While, a Director’s loan is a debt on the books, the guy was trying to say that it was money used to set up the business and he was not looking for it back in the short term. In other words, he would have written it off to get the right offer from a Dragon. This lark of offering 50% of someone’s business is such a slap in the face, the guy was right to turn it down. Money, in this instance is not everything. A greedy offer (normally a Touker gambit) deserved short shrift.
1. He obviously has no intention of writing it off, hence why he not only didn't say that - he specifically said that he DOES have an intention of collecting it in the future.
2. He was offered 50% because of the way he structured his offer. The valuation Sara offered was exceedingly fair - she overvalued it if anything. Why on Earth do you think a garment bag, that anyone can just copy, that doesn't currently make any money and has no recognisable brand is worth significantly more than £150k?
Once he argued the point it wasn't debt, there was the red flag in the personality. Clearly not able to work with. I would not have even bothered with the offer. Quite rude and arrogant.
I cannot believe he didn't even try a counter offer.
'.. Everyone else is taken.' if his negotiation is anything to go by everyone else is where the businessmen are at
Sir reinvented the wheel
65 % of a million pound a year business is much better than 100% of 120 000 pound debt in my books
Debt is Debt...
His body language is so unattractive. He looks so in his head and unconfident, he should be ashamed of himslef for rejecting Sara’s offer, which would have made him a multimillionaire. Sara dodged a bullet there
Jeff Bezos doppelganger 😂
Fantastic offer turned down.
if Jenny was on here she would be truly out.
Patrick: I am sorry Sara but I am out