Declining Online Traffic “Because We Price it Too High” | Dragons’ Den
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- เผยแพร่เมื่อ 5 ต.ค. 2024
- The Patlock was designed and developed by Craig Knott and assists homeowners in securing properties against burglars and the method of forced entry known as lock snapping. Craig seeks an investment of £90,000 in return for 10% equity, but would Peter’s 10-year-old even invest?
An international sensation, Dragon's Den features entrepreneurs pitching for investment in the Den from our Dragons, five venture capitalists willing to invest their own money in exchange for equity.
#DragonsDen #HomeSecurity #Patlock
Whenever a security item is in the Den Peter is always like "Well I could just run a bulldozer into the side of the house couldn't I? Then I'd be in your house!"
True lol always. Peter generally likes to undermine the validity of the product to hurt the entrepeneurs' confidence, so he can potentially get a better deal. Seems to be his strategy.
@@chrisvanegmond3157 definitely.
This really made me laugh
Peter is that with most things. “This snack is good but what is preventing me from eating other snacks??”
He has a point though. Burglar alarms already exist and these new products do nothing that hasn't been done already.
Cost to run ads on cable TV - £25k
Cost to run ads on cable TV via Dragons Den - free
Dragons Den is BBC, not cable, you can’t run ads on BBC for any money, unless you go on Dragons Den that is.
Yup now they get the "AS SEEN ON DRAGONS DEN" sticker and probably double sales. Probably why the guys in the back were finding it funny aswell
Nailed it buddy ! That's exactly whst he wanted. No dragon is gonna run in and invest for a ROI of 7-8% per annum. He probably wanted them to say no too. Maybe that's why Debra gave him, her vote and turned him down at the same time.. all he wanted was the free tv time. " As seen on Dragon's Den !"
And he walked away w/o giving away a single % in equity .. great job ! He truly is a good businessman.
The Older ones are astute.
You took the words right out of my mouth.
Peter jones' argument just ruled out having windows in your house
what a douche
Absolutely. That's what I thought. Surely if they smashed the window they could just jump through the hole rather than taking pat lock off anyway
yup! when you think about it, prison is really the safest place there can be :)
It ruled out trying to stop people from getting in. Everyone knows that if someone wants to get into your house, they will find a way, so a product like that probably isn’t going to affect that and thus probably isn’t worth the trouble.
Might as well go, “if they’ve got a wrecking ball couldn’t they just knock the side of your house off? So this isn’t going to do anything” also if you smashed the window of a french door, why then bother opening it!?
He wanted a dragon to open doors for him, but his device is too good.
@@Locutus You missed the joke so bad that I actually feel sorry for you
@@Locutus oh my good how didn't you get the joke? SWOOOOOSH
@@EXILE1 I feel sorry for you, for being an invalid.
Lol, genial observation
@Jichael Mackson you're clearly under the impression that you are the only person who got the joke? Re-read the comments you 'fool'.
In Business you have to sometimes do things that you don't want to do in order to grow and scale your business. The fact he mentioned that he doesn't want to deal with the p&p shows that he's not bothered and this would not make him investable. Hire an intern, get them to do the admin, pay them a salary and focus on growth and sales.
Hell, get a high school kid to do the job, someone that wants to work though.
Ok if you say so mr business man
Exactly: simple mathematics: surely the differential between his “sale to retailer” turnover and his “sale to consumer” turnover is big enough to cover the P&P and the labour cost of hiring someone to manage it, with profit left over?
GM motors would hire him really.
Fiat Chrysler even.
The reaction room they had for a while was so cringe, glad they binned it off
It was the best format they ever had.
ees guvin awey eur stock
They should show all the pitches in their entirety from the point of view of the reaction room, with the guests loudly commenting over every detail and talking over the audio about unrelated topics and promoting themselves.
yep, but in this episode it works brilliantly!
It's sort of like the den is part of the 'Saw' movie :))))
I don't understand why people hate on the reaction room. I literally don't see how it can bother people
To use Peter's logic, there would be no point locking standard doors because burglars could just get through windows. Sometimes the dragon's want to find fault for the sake of finding fault.
He doesn't seem to have a concept of deterrence or that forcing a burglar to smash a window instead will increase the chances of them being detected. Or at the very least, the burglar will feel like they have less time to find and steal things.
I don't get it, are your windows completely unprotected ? In my country we have shutters on the outside, which are usually made of wood (if they're old) or aluminum, and they're the main protection against burglars. If they manage to open that, going through the window is not really an issue for them. I can't imagine a window or glass door without a protective shutter.
@@pitprok in the UK we don't have shutters outside a window. It's just a window.
Peter's is don't build anything of your house except the foundation
I think Peter just asks these questions to test the entrepreneurs
Two guys in the "reaction room" felt like yes-men vultures that'll laugh along at his unfunny jokes just to get some of his money
They seemed like CHADS.
Get the impression he has their money & they are desperate to get it back.
@@Hi-kq1vi They seemed way too chill about losing, I think they're relieved Peter Jones or whoever didn't come on board and immediately fire them for being useless
Also they might be bumming him
@@leenobody3249 lmao I did not expect to read this comment on a respectable channel like dragons den lol.. Then again we are on the interwebs
Yes Peter, if you smash the window, you can remove the lock and open the door. However you can also just enter the house now anyway, because you’ve smashed the window...
Hope everyone enjoying their lunch
I'm not. I've hardly anything to eat lol
Checky tuna sandwich and dragons den gg winning
@@mrbigruss666 can I have a Tuna sandwich please lol. I'm bloody hank marving with hardly any food to eat. Also it amazes me why anybody would want to tag thereself with three 6 in their handle or name they use on you tube wow being that I'm Religious I'd never do that. You do know that it stands for the devil you are aware of this I take it @mrbigruss666. Any way i hope you have a good weekend.
@@scottandrewhorne4655 Never really thought about it mate, just quite liked the numbers together ha.
It's 3am here in Fiji
The message he gave over, with hands in pockets, was that he's content with his wage and not prepared to risk that for the product he wanted dragons to invest in.
Ahh, The Hated ‘Reaction Room’.
Gone and Forgotten....
Not really. It will always be in our hearts. 99.9% agree.
Reaction room was annoying
Terrible format which is why it was canned!!
They should have upped the ante and brought in a reaction-room reaction-room where the supporter’s supporters could comment on their reactions.
that reaction room was the best thing since sliced bread!
These guys' reactions are pretty hilarious.
My parents have one of these products on their kitchen doors and it’s great - they thought it was very funny when I told them it had been on Dragon’s Den.
They should install them locks on Jenny's home so that she wouldn't be out.
Reaction room was a terrible idea.
No. It was the best idea ever.
@@TheManInBlueFlames no it wasn’t
Yes it was
Yep, terrible idea
Turning it into lame Gogglebox
Jenny wouldn't break into anywhere because she is always out.
Technically you got to be out to break into something so
Quality
@@melancholyhill8574 yea, probs better to say something along the lines of robbing Jenny while she’s
Haha very good
@@melancholyhill8574 I think he meant that Jenny has no intension of ever being in
"from the minute I walked in it was question, question, question." Have you not watched Dragon's Den before?
I wonder how these 2 guys invested in someone who clearly is focused on his other business.
That "Reaction Room" was such a lame idea. Glad they dropped it.
Peter Jones "if you smashed the glass......" Yes Peter, driving a fakin bulldozer through the doors would have the same effect but burglars tend not to do that either. The noise of a patio window going in at 3 in the morning would wake the whole frikkin town up never mind the occupants. Smart ars#.
A glass cutter and one little plink is all it takes Ricky.
Peter Jones: woke, self-promoting, vain, manipulative, conceited
@@getin3949 Youve been watching too many films sonny. Glass cutters wont get through strong double glazed patio doors, and even if they did, what are you going to do with the tiny hole you just (havent) cut??
@@Japan_C2 He really is. That Meadon one is the same. The best dragons ever were Sarah and Nick. Always polite and courteous - even to the most idiotic inventors.
Forcing the pitcher to defend the product is part of the deal.
Have had one of these in my home for over a year now! Pretty good tbf
I've got one too, great thing
I don’t get why he doesn’t just hire a couple of people to ship out the orders for him and deal with returns etc.
Selling on Amazon, they charge really high fees and if you’re selling in high enough quantity with a product priced as high as this is it’ll definitely be more profitable to sort out the deliveries and returns yourself.
Peter wants a door lock that stops people from braking glass
Breaking, not braking
and a 4 minute egg while he's smashing
Breaking *
Sara is so cute & polite. Has one of the most infectious smile. I’d love to have a friend like her.
@Lee Winterbottom lol without a neck
She is probably the hottest neckless woman in the UK right now.
I have seen people constantly calling Sarah 'Sara' and Sara 'Sarah'
@@StarCarSalesNelson She totally has the wrong haircut for her body type
@@samsschool3639 Which is?
The amount of Jenny memes and comments have ironically made her into something of a idol, or perhaps more fittingly, she’s very ‘in’ at the moment, unusually.
An original Jenny comment. Well done.
A very original comment. And I like the name, the Turtle. But this doesn't fit into my comment portfolio at the moment so I'm out.
@@HHHKingofKings58 You will eventually become famous for being out. Then you will be 'in' like Jenny.
"Can you give me loads of money for my business that I can't be bothered to run please?"
Lol behave sunshine
So he didn't want to sell from his website where he would get the full 55-60 and insteadsell it to wholesale?
In the words of Mike tyson "That's ludicrous "
did Iron Mike really ever say that?
postage and packing work, however, which are extra costs. Do keep up
Ludicruth*
@@corpgov still better than selling to wholesale who can ruin your margins in the long run as the product gains traction.
Chargebacks, refunds & order issues could cost him more than the margin.
The product is now £49.99 on their own website 😁😂
I've had this experience as a consumer plenty of times. The product I want is more expensive on the product's own website than on Amazon
Burglars tend to avoid breaking glass - double glazing isn't the easiest to get through - and if you cut yourself you leave DNA at the scene - 99% of burglars would walk away or look for another way in...!
So the Dragons can run multiple businesses but no one else is allowed?
Yes, they are shareholders, so they don't have to spend 100% of their time in that one business. If I give you money, i also want to make sure you are committed.
'Oomph' is the word Debroah had on the tip of her tongue.
Craig not from Yorkshire, interesting. Mystery. I like it.
Edit: 2:40 ah I see he’s not from Shipley either... the plot thickens
This comment is my exact sense of humor 😂
These dragons are geniuses when it comes to scrutinizing a product
Conveniently posted the day after I saw my first Patlock advert on TV
The people reacting makes it unwatchable.
No it makes it GOLD. Far better than most episodes. They speak the truth.
Ah man I love this guys personality and enthusiasm. 🙄
This is basically a new application for those old steering wheel locks.
As a security engineer, on a conservatory with a plastic roof it's easier to go in through the roof just by sliding a roof panel out,, if you have a conservatory that has a perspex roof then as I have risk proof it 👍
Well, he got his free 15 minutes of fame on the BBC to advertise his product to millions, so I think he got what he wanted.
Those business associates seem like the most positive human beings walking on earth.
He got to advertise for free and even tell ppl where to buy (not his website, of course)!
At least he got a good advertisement from here
Glad they stopped the reaction room, super annoying.
Last of the summer wine lads are looking well which is nice to see tho
You could use it to protect your daughter from Doug Richard.
He would just stick his tongue through the letterbox.
Nice theo. I love the "no let up" on the pervert. Appreciative kiwi. ✊
Investors never use words *I am sorry* in shark tank US or Australia. It happens only in dragon's den.
They do in the Canadian version.
@@Nocturnalux I've never seen the Canadian version but somehow I believe you
his friends low key laughing at him :D
ive never seen someone come in the Den who DIDNT want to sell his product
Ok guys your taking the mic now with all those non skippable ads
"I'm not driven by making money" is not what an investor wants to hear
I can understand why he does not want to deal with orders direct, people can buy the item from other sellers and cheaper, makes sense.
Exactly.
Oh yeah, when Dragons' Den went all Googlebox for a couple of seasons
Jenny: I tried to get in, but the damn Patlock kept me out
Hate watching the reactions. Blugh.
Best feature yet!
Happy Saturday all!
Hungover mate not so happy 🎉
Shut up mate
@@trevorholman842 why you been so nasty you small man
@@trevorholman842 thanks mate. :)
Welcome brother
#1 Bestseller on Amazon, 9054 ratings, average 5 stars. Fair play!
Jenny wouldn't invest, but she should buy one for the many times when she's out! 😂
Jeez. One narrator wasn't enough. Now we have two extra bozos reacting. This a joke?
Agreed.
His argument not to deal with retail is not unusual. For years businesses have made products to get them into retail. Indeed if he’d gone in without retail connections they’d have said ‘I can get you into X, Y, Z’.
Now, traditionally it’s achieved by having no mechanism for selling directly at all - I.e. you go to the website and it has links to other retailers.
Another point is that your retail customers don’t take well to you competing directly and often have a clause that you can’t or that your pricing is at least the same if not higher. And if you deal with ten retailers you have to be higher than the highest one.
I’m not saying I know more than the dragons, but this is my experience from a long career with DIY products.
Sarah, I have some whipped cream, so get your puddings out.
Ewww she is mother of kids. Stop.
The product is now listed on Amazon on many country sites, with a 75% satisfaction rating. For 3 years now revenue has increased 100% each year, and in 2020 was over $400,000, with many more international chains in line. Its even in my local hardware store in Canada. The Dragons missed on asking the right questions or seeing what he want to do ie; sell not one at a time on his own site, but pallet fulls to international store chains, which hes doing. They completely undercut the type of market that was intended, and focused on selling one on a website.
Its like they got on a tangent and lost sight.
Their loss.
400k in 2020? that's not much tbh
He could have cotracted out the shipping for his website. He doesn't have to do it himself. It would still cost less than what other retalier will take as margin.
"You are using a patlock, it can be opened using a patlock"
Everyone would spend all night to package and post in order to sell through their own website and he doesn’t! I would not invest on him for sure.
I think this guy is brilliant he created massive retail demand to assure his business will become and maintain whole sale.
The overpricing seems to be a trend on many items from companies own websites. They’re always full RRP. Odd tactic but they’re not alone in that tactic
A broom handle cut to size works really well too
1.14 - 1.21, As having french doors myself that's certainly reassuring 😂 Like Peter said it's a neat product but it's nothing amazing. I did think he was going to get an offer though
Well nick . The doors are still the same now , and easy to get into
How about a single handle door? Not for a double door? 🤷🏻♂️
Why not get proper anti snap locks fitted as the police recommend?
"The product is unique and works, the business has better financials than most businesses that come to the den, and you understand marketing well, but I'm pulling out because you aren't presenting like an energetic drama character"
I live like 5 minutes from Shipley eating a Mcdonalds from there now watching this... mental lol
TOO laid back.
He wanted a drgon to do all the work.
Much easier and cheaper fixes to this problem.
A bit of wood with a couple of holes or a metal tube with a couple of cuts in it.....
Cheaper not easier
Hey! They missed that one in "101 uses for a safety pin".
Low energy is diplomatic way to describe him.
I really love Deborah's speech at 9:23 💜
This is a standard business model for manufacturers and wholesalers to price higher to add value for the retailers and online accounts to carry their products.
'Only one Dragon left'... they saved the best 'til last...
Oh, this “reaction room” dorks...
Just install a steel door 🙄
The adverts are starting to take over this channel
Install an adblocker for TH-cam. I only ever see TH-cam ads on my TV.
Jenny has left the Dragons Den to pursue her new exciting APPLE career with a range of non smart devices called iMOUT
designed so beautifully
He talked himself out of a deal. As for one hit wonder, their still selling to this day!
9:03 who are these two guys?
Me: "Didn't you just invent a huge safety pin?"
Jenny : Im locked out
🙄
Jenny wants to come in?
Hello !! just break the glass window in the door. Ha ha straight in there
I've done the same with a chain and padlock which I normally use to lock my bicycle - that costs me nothing. I wrap the chain round the indoor handles and lock it tightly. Peter Jones is right though - a drug addict will take any risk to get money, so smashing the glass with a rock from the back garden is a way round any locking device. As to that Yorkshireman's attitude, he's saying 'take it or leave it' and they left it!
OK, so Craig's not from Yorkshire. That doesn't narrow it down very much.
He "locked" himself out of a deal.
Ba-Doom - Tsssssss!
No you did.
If your a security conscious homeowner why are you buying glass doors?
This guy is drop shipping his own product. It’s the most ridiculous thing I’ve ever heard.
I hate the reaction room.
3:32 The moment started to show intelligence
Why does every episode sound like someone's phone is vibrating
14:12 the Dragons' chairs are already empty?
Selling from his own website would give him control of the product! Selling via amazon and retailers etc, he only needs a few bad reviews and he is finished.
This is like a JML product which available from More store and Wilkinson stores.