Magic Whiteboard One of Most Successful Investments on Dragons’ Den
Magic Whiteboard One of Most Successful Investments on Dragons’ Den.
Magic Whiteboard which appeared on the TV show Dragons’ Den has been rated the third most successful investment, according to Pocket your Pounds.
See the Top 5 Most Successful Investments on BBC Dragons' Den
Dragons’ Den has been helping entrepreneurs grow their businesses for 15 years. For some of them, it’s been a launch pad to massive success.
We take a look back to find the top 5 most successful businesses from the hit show’s 15 years:
1. Look After My Bills
For decades there were hardly any options as greedy energy suppliers raked in the cash.
Then one company showed up on Dragons’ Den and changed everything...
Look After My Bills co-founders went into the Den and wowed the Dragons - walking away with the BEST deal in the history of the popular TV show.
Two Dragons - Jenny Campbell and Tej Lalvani - invested £120,000 for just 3% of the company.
The concept of Look After My Bills is simple: you sign up just once, and the service finds you a great deal (and switches you to it) every year. The best part is, Look After My Bills is FREE!
The company has grown to 200,000+ members since the Den and caught the eye of popular price comparison site, GoCompare, who purchased the company in the Summer of 2019.
2. Levi Roots
Levi Roots was told there’s “no future for this business” by Duncan Bannatyne when he pitched the Dragons in 2007.
But Peter Jones and Richard Farleigh saw something else and invested £50,000 for a whopping 40% equity in the company.
Reggae Reggae sauces are now stocked in all major UK supermarkets, taking Root’s worth to an estimated £30 million according to the Sunday Times Rich List.
Peter Jones remains a shareholder and advocate for the brand, claiming “it’s one of my most successful investments from the show”.
Said to be Deborah Meaden and Theo Paphitis’ most successful investment, portable whiteboard “in a roll” has achieved impressive growth since appearing in the Den.
Founded by husband-and-wife team Neil and Laura Westwood, Magic Whiteboard is now stocked in all major office supply stores with a global customer base.
In September 2014, the Westwood’s bought back their shares from Meaden and Paphitis, giving the investors £800,000 return on their £100,000 investment.
4. Skinny Tan
Skinny Tan launched in 2012 and boasted profits of £600,000 in its first year.
It was those figures that impressed the Dragons when co-founders Kate Cotton and Louise Ferguson made their pitch in 2013.
All five Dragons showed interest with Kelly Hoppen and Piers Linney making the successful offer for £60,000 for a 10% stake in the company.
The company was sold for an undisclosed sum in June 2015, both co-founders and the Hoppen and Linney remain shareholders.
5. Mainstage Festivals
Founded in 2011 by Rob Tominey and Aden Levin, Mainstage Festivals offered “once in a lifetime” low-cost clubbing holidays for the 18-24 market.
When Tominey and Levin pitched the Dragons, the business already had revenues of £1.6 million.
The entrepreneurs received multiple bids and accepted Piers Linney’s offer for £100,000 in return for 15% of their company.
Magic Whiteboard was founded by husband-and-wife Neil and Laura Westwood, Magic Whiteboard was created in 2006, and was later showcased on the BBC series in 2008.
Magic Whiteboard’s success meant the pair received a £100,000 investment from Theo Paphitis and Deborah Meaden. In return, the couple handed over 40 per cent of their business to the Dragons’.
Mr Westwood, from Worcester said: “We came up with the idea because I used to work at Worcestershire Royal Hospital. I used to go into the A&E department to train the nurses. They didn’t have a whiteboard. I thought there must be an easier way to make presentations, so I came up with the idea of Magic Whiteboard. It’s a roll of A1 whiteboard sheets that will stick on anything thanks to static.
“It was quite intimidating at the time. We were new to business and I was still working at the hospital.”
Magic Whiteboard sells an array of stationery supplies, including: whiteboards, magnetic whiteboards, notebooks, sticky notes and pegboard noticeboards.
Mr Westwood, aged 47, posted the report from Pocket your Pounds about the company’s success on LinkedIn, which has received over 5,000 views.
He said: “I never usually get much interaction on LinkedIn. Usually about three people view my post, so it’s been phenomenal."
In September 2014, the Westwood’s bought back their shares from the Dragons', giving the investors £800,000 return on their £100,000 investment.
Mr Westwood added: “It has been a lot of hard work, but it’s been rewarding creating a product that customers like to use."
Mr Westwood will be going to The Bett Show, in London, with an apprentice next week where around 300,000 teachers will be attending.