Coconut experts crack The Dragons Den with their products and pitch
One of the most significant skills in business is knowing how to sell yourself or your ideas effectively. Your ?pitch? has to be perfect and executed professionally, to ensure you have given yourself the best possible chance of succeeding in your objectives. One such entrepreneur, who knows just how to pitch an idea, is Jacob Thundil, coconut expert and Founder of multi award-winning organic food brand Cocofina.
Standing up and pitching in front of any potential investor is daunting, but if you find yourself facing five of the most successful, formidable and potentially intimidating business people in the country then you?ve got a tough challenge to overcome. If you are also not used to standing up in front of the TV cameras, then this can certainly throw more tension into the mix. That is just what Jacob and Operations Director Manisha Solanki encountered when filming took place of their pitch for the 14th series of BBC Two?s Dragons? Den.
It all began when a BBC researcher spotted that Cocofina was listed as a ?top superfood? brand online and subsequently made contact with Jacob. Internal deliberation amongst the team ensued and a unanimous decision was reached to accept an invitation to attend a screen test at the London offices. This early stage already gave them both a taste of what was to come as they were put on the spot and asked to deliver their unprepared pitch. The shows? producers then watched the unedited recording and two weeks later, invited them to participate in due diligence. Knowing that they could substantiate all facts imparted in the first pitch and although at an incredibly tricky stage, they came through a little ruffled but unscathed.
A second invitation was made thereafter for them to come to the BBC studios to film a prepared pitch in front of all five dragons. The atmosphere in the studio green room was noticeably tense as the duo sat alongside other nervous entrepreneurs, all of whom who had no idea when they would get called. The pre-filming environment was challenging but Jacob remembers thinking to himself ?but we sell coconuts right? So we need to stay chilled? and with that they strode into the lift that led them into the den. Now facing all five dragons, it was time to deliver the Cocofina pitch which went as planned, ultimately drawing unanimous praise for being very well delivered.
Each dragon was given a tray of small samples to taste comprised of Cocofina?s pre-workout, low calorie snack bars, a 10ml organic, virgin, cold-pressed coconut oil sachet, coconut amino soy sauce alternative, pure coconut water and low GI coconut sugar. All five universally complimented the duo on the quality of the products with Deborah Meaden being the first to break rank with some questions. The rest followed suit with Peter Jones being the last to question the two entrepreneurs who expected to bring at least one of the dragons on board in exchange for 5% equity in the business. All five dragons were interested to invest in return for 20% equity and so this created some healthy competition amongst them. Jacob states ?we wouldn?t have given away anything more than 10% and I was adamant about that figure not rising.? Ultimately the duo opted to say yes to the joint offer put forward by Sarah Willingham and Nick Jenkins. In exchange for an investment of ?75K, a 20% stake split down the middle was offered to the two dragons with an agreed option for Jacob to buy back 10% after 12 months.
Cocofina are the coconut experts and offer an unrivalled range of innovative, organic, vegan and vegetarian friendly products that are UK Soil Association approved and available throughout the UK and in 28 countries. Sustainable production of high quality coconut-based products is one of the brands? core values and has enhanced their already impressive reputation for consistently launching innovative products to market. Cocofina products are stocked at Harrods, Fenwick, Lakeland, Darts Farm, Newlyns, Bents, Cobbs, Blue Diamond Garden Centres, Flowerland, Daylesford Organic, Revital, As Nature Intended, Holland & Barrett, Planet Organic, via their online store at www.cocofina.com and in thousands of Independent and Speciality Health Stores.
If you would like to be sent the same sample pack as featured on the show, have any questions, requests for images and/or quotes, please contact Scott Wright at the Cocofina Press Office by calling +44 (0)20 9429 3078 or by email to scott@cocofina.com.
