I work in the waste management industry and 200k is a small investment for companies like these. Waste is a big business and it always will be. There's not stopping it.
Many Thanks Jon. We have since re purchased our entire share holding and the business has continued to grow. In the last 12 months we have gone into a really nice period of growth and launched a nationwide service for residential skip hire. Thanks for the kind words...
You made a point that you were different to all the other companies as each bin is for a different waste stream yet see that you now do actually hire skips to the construction industry, did your original business model not work? Seeing as you’re now the same as any skip company. Interesting to know how it went?
@@TheJohnCooperShow thanks for asking. March 2020 we took a 60% hit to turnover. Predominantly from residential skip hire and small builders on residential projects stopping over night. The major construction then leapt into life and we were back to 100% by May. This year, especially over the last couple of months, we have achieved record breaking sales levels, so fingers crossed it continues throughout the rest of the year. Good luck to you and all in the new world that is forming in front of us.
+Raeven Brough well if you look at the original video ''DJ Khaled - Hold You Down'' at 4:30ish there's the infamous cringeworthy monologue of DJ Khaked where he says to the girl ''I appreciate that'' which is also quoted as ''I appreciate you'' especially by H3H3. And that's what the guy in this video was about to say but he continued the sentence with ''listening'' after a pause. So he almost pulled off a DJ Khaled. Hope that explains the joke. +Jay gets it
They're investors, it's their job and it's where their money comes from. There's more chance of them receiving a profit from the 100k each they put in if they take 20% each instead of 10%. They've got no idea whether the company will do well or not so they can't just give him a load of money and expect to get it all back😂
+Walrai That is a ridiculous statement. Firstly, they are not idiots and he had turnover financially to show what they were getting into. Secondly, investing in someone does not mean that you need to behave like an arrogant arsehole, not does it mean you should take total advantage of someone's situation to screw them for every penny.
In February 2021, it's interesting to see what happened after this early episode from 2008. Duncan Walker Bannatyne and Deborah Sonia Meaden invested as agreed, served as directors for three years and resigned in 2011. Colin Slade, the partner not shown in the programme, resigned in 2020, leaving Paul Tinton as sole director. The net worth of the Prowaste business in 2019 was about £210,000. Maybe the skip business is worth more but, after hiring many skips for building work, I know local companies can charge less because their trucks and drivers do shorter journeys from customer to depot.
Good work mate! You knew your business inside and out and the opposition! Good to see someone with actual business savvy for once on the show. Good Luck!
Indeed, and they only look like this is shit this won't be good, so I will give you 200£. But everyone is worried that they won't get an offer if they ask for a realistic price for their realistic stake...
I own a small company that is quickly expanding, and we have reached 25 employee just this month. To give you a perspective, our 2016 revenue is projected to reach 11 million at the end of the year. So yea, I am definitely broke and i don't know anything. Sure, i ain't as rich as these dragons nor am i as "successful" as they are, but i would never let them rip me off, not like that.
I think he did well, the numbers spoke to the dragons as did the risk. I think securing 2 dragons for investment was a good decision even at the 40% rate. I'm glad he didn't try to bamboozle the dragons, he was honest and realistic.
To be honest, he still has 60% of a company that could become absolutely colossal and potentially international if it really is one of the only companies to offer a complete package like that
niemand gelooft dat ik ben engels 30% as he was 50/50 with a mate before walking in, gives 40% away that leaves 60% between him and his mate, diluted a lot for 200k if u ask me, I doubt his mate would be too happy at losing 20% for 100k...........
40 %?! I don't know much about business, but that seems outrageous to me. He's got the idea, he has done the ground work and will continue to do so in the future. How is a one time investment worth 40 %? The risk alone can't be that expensive
I can almost hear in the background: "Hello, it's Jenny here, I'm not actually on the show for another few seasons, but I just wanted to say, I'm out".
basicly they are investing in the swedish model. and this guy is getting in on the action by presenting the idea. Sweden is even getting paid to handle the day to day garbage of western europe. other countries pays sweden to ship garbage over to sweden because other countries only have the other option of landfills, and as he says, high taxes. but sweden is recycling basicly 95% of the garbage we are paid to take care of. and we recycle what is possible to recycle through a sorter, and the rest is burned in a specific process that is enviormentally safe, turning it into energy. this is a win win for swedes. the rest of the world needs to join in. in my town of Örebro, our old landfill actually contains about 600 million worth of precious metal... there is sick money in investing in the care of garbage and recycle.
Its going very well thank you for asking. The company has grown year on year. Even through a hard recession period in the UK when Construction projects were on and off like a light switch. When we were on the show the turnover was £350,000 we are now up to £2 million so headed in the right direction. We have picked up some great customers and have recently launched a nationwide skip hire service called proskips.co.uk. Thanks for asking.....
Went under unfortunately. Poor management. Sad because he seemed to be a decent guy. From what I understand cheating on his wife caused a lot of his problems.
In fact it appears that the 2 Dragons resigned as directors in 2011 and since then the company has taken off and is doing extremely well under the two original directors. companycheck.co.uk/company/05897697/PROWASTE-MANAGEMENT-SERVICES-LIMITED/companies-house-data So it seems that the real story is actually more interesting than your made up one.
Interesting.. In the city where I live in Sweden we have something like this but we have different coloured waste bags, throw all bags in same bin then a machine at the plant sort the separate the different coloured bags..
Seems to me the lad got his pants pulled down @ 40% going on what he had turned over in a short space of time. I'd of walked away and looked at other investment options.
It's not just the money he's looking for, the experience and guidance of the two investers is probably worth more to the company than the money itself.
Construction waste management? What's to manage that isn't already being taken care of? I work in construction and since i started 10 years ago, waste is segregated into separate waste skips/bins, and is then taken away to be recycled. Soooo?
It's an old episode, first shown 8 years ago and they started the company in 2006. Sounds like you might not have been around to see the problem this company (and others) solved, because they'd already solved it.
I have been in construction since June, 2005. Rest assured, it has been the same system in place in the past 11 years, and during this time it has been the same old companies. Also, we primarily use skips, not wheelie bins as the gentleman suggests using.
Are you crazy? His finances showed he was in the red at least from an equity position. Only traded 3 months... And he was about to go and spend more money... He got a good deal and so did they.
He should have made the option of buying back a percentage of equity after return of investment over a fixed number of months. 7.5 percent from each would have been a fair negotiation.
I'd like to see Bill Gates as one of the Dragons for a day. He would just chuck a million at each person and just say "I don't want any part of the company just go make your fortunes!"
@@reneeleese he's given endless amounts of money away. It's wild. He has money in the degree that he almost literally could never spend it all even if he tried
lol no he wouldnt, he is tighter than a ducks ass. The rip off prices microsoft charge are rediculous and thats him. Chuck a million at them for nothing, what planet are you from? :oD
Jesse Bella MS won most ethic company of America multiple times (don’t quote me on the "multiple"), Gates has funded many charities and pays his taxes ethically, and has given money away for different causes and projects many times. When he started MS, he was ruthless... he has changed a lot, although you could argue that he is doing this for public image and doesn’t actually care, but I tend to give people more credit than that unless proven otherwise.
moving your shareholder loans into equity serves more than one purpose.. sure the loan is lost and never reimbursed Tax free.. but the value of the Paid Up Capital is increased to a MORE realistic value that will lessen a Taxable capital Gain when the shares are sold. to say Duncan. when u sell shares u must review the PUC to determine if there will be a Tax able Capital Gain (even during dragon's dens, the selling of shares May well carry capital gains' taxes to be paid to the UK govt before the cash on hand can be used to purchase what ever is required.. / note that shares can be then dividend each quarter out of the Retained Earnings (have to be positive and cant dividend to shareholders with out also paying corporate taxes first).. good ep.. //
200k was a great deal, today prowaste is a highly respected company in the trade and last i heard were expanding into other avenues, skips i think too.
I wouldn't ask any of these arseholes for help. Too many principles so i would be a terrible business owner. I would tell Theo he's out before he spoke. Horrible little scrote
@Epoch plus5 not really. Just couldn't be treated the way these folk treat people. Is that an issue? I am sure a lot more on here have that self respect too
Samara Weaving that literally makes no sense though what you just said implies that i was confused by my own comment which i left no indication of. you can't even grasp anything close to an understanding of what other people are saying it's just strange how stupid you are
That is true but you have to consider that the so called 'Dragons' are experienced in the world of business and they can tell when people havn't planned something throught properly or have left something out that will damage their chances of making money. So the dragons do take risks but only when they believe in the person/ the product that they are investing in.
It's funny how transparent these people are when they're ripping off the inventor. I mean it doesn't take an expert to read their body language and expressions lol
@@mohammedyakub3760 It's only fair if you think a valuation of a business should only be based on current profits. Not to mention, many startup business' don't even make a profit in their first year.
It seems many of those offering comments have little idea about percentages. 100% of a small number is still a small number, 60% of a very large number is still a very large number.
what a wonderful idea, reducing waste is extremely important so I'm glad that the large amount of money was spent on this business(even though equity was quite steep).
JEdirect your definitely right and we spent 12 months with lawyers fine tuning before agreement. The pressure and temperature in the studio got the better of us!
$200,000 for 40% is a bargain. Mind that this money is not charity money to help grow business, its a liability that the owner must ensure to grow its wealth, so that defines the term investment. At beginning the owner invests $70,000+ for 50% equity so judging by turnover value $100,000 for 20% is a safe bet. Plus the purposal to grow the company is not such big scale that demands huge cash. I am not expert in finance but i assume $100,000 they expect turnover for 6 to 8 years, at least share profit of $1,500 per month.
its about the value brought by experienced dragons & 40% is warranted especially with this company being in early phases in a very competitive market ya douche
Sadly the company didn't grow and they (the dragons) left in 2011, the company was given back to the guy and his mate at 50% each and has grown big time and is worth millions.. The Dragons actually fucked up and now this man is set for life
Good call Paul, trading more equity than originally offered, for the valuable experience and connections of Duncan and Deborah, maybe try and negotiate a lower equity percentage if revenue targets are met in the coming years. Good effort and well done for being a young and successful entrepreneur!
I really hope this business partnership does well, now and in future. These dragon's do drive very hard bargain; they want a lot of equity.Its like interest rate on higher purchase & the dragon run it like a higher purchase agreement, which you don't want when you are trying get on second run of ladder in your business, you need as much help has possible.
both debroah and duncan resigned from this company in 2011, not surprising as the company wasnt making money at the time, and still isnt to this day apart from 2014/15/16 where it was betwene 600-900kthen took a tumble (all numbers are assesstsand not profits). paul also has a company called WALTER WEIR LTD which has been on the level of being strick off a few times
You really can't tell much from the accumulation profits. Perhaps they decided to pay themselves large wages, so the vulture dragons at the time weren't getting much, and decided to keep that level of wage
@@Mathewmartialart they have more than 50% shares. Even if their salary can't be changed, nothing stops them getting bonuses which would be voted on, which only needs 51%. Until they edited the articles of association from the standard one...
Why just construction company waste disposal bins. Even South Africa has these bins in most of our residential areas. No, the municipalities don't own them. They are privately owned and even little kids make use of them.
He did not need them but sadly he did not know it. They did however and took advantage of his inexperience. Once he makes his first million he will be sick as pike he gave away 40% of his business for £200,000.
As a Nature friendly company, couldn't he have gone to the administration to ask for help!?? Or to the bank ... but that another strategy which is more complicated ... They could have asked my advice ...
The problem is. Most people of the home domestic kind, don't care about what which bin takes. Some will stuff down the bottom of the bin, what's not intended and cover with what should be there, so disgusting the fact. They don't really give a f##k!
mrwisem4n Their first (and final) offer was to each invest £100k for owning 20% of the company each (adding up to a £200k investment and 40% ownership). His counter-proposal was that for the £200k investment they'd get 33% of the company, which is the same as 16,5% each for investing £100k. They didn't go for that though.
Joseph, I am not sure if stupid is the right word? The benefits of being on the show and completing an investment are multiple. As a small business we needed to improve our visibility in the market, we also needed to raise money as the banks just weren't lending and yes we needed to grow. We were happy to give away a large percentage because business is about more than equity.Pay you and your staff a handsome wage,equivalent to your peers and then share what dividends are left with investors.
![Felix "Unfair" | [Stray Kids : SKZ-PLAYER]](http://i.ytimg.com/vi/Oswujxm2Ag0/mqdefault.jpg)
The delivery of the pitch was simply awesome. Superb job, great knowledge of the business and helping the environment. Well done.
Duncan - "it's a RUBBISH idea.."
Peter - "I'm not going to WASTE your time" 😂😂
I work in the waste management industry and 200k is a small investment for companies like these. Waste is a big business and it always will be. There's not stopping it.
MrEternalpk *no🌚
Shame Touker wasn't there to give him an office
I dont understand all the jokes about the office. Could you explain ?
@@5950ziel in different episodes he's offering his office space in London and it happened so often that even Peter actually thinks it's funny too
Excellent pitch
Many Thanks Jon. We have since re purchased our entire share holding and the business has continued to grow. In the last 12 months we have gone into a really nice period of growth and launched a nationwide service for residential skip hire. Thanks for the kind words...
You made a point that you were different to all the other companies as each bin is for a different waste stream yet see that you now do actually hire skips to the construction industry, did your original business model not work? Seeing as you’re now the same as any skip company. Interesting to know how it went?
@@LishmanJamie also... isnt that the route that Pete Jones suggested and Duncan dismissed it ?
Congratulations on securing the investment and buying back the shares. Congratulations also on expanding the business.
Nice one! How has the plandemic effected your business?
@@TheJohnCooperShow thanks for asking. March 2020 we took a 60% hit to turnover. Predominantly from residential skip hire and small builders on residential projects stopping over night. The major construction then leapt into life and we were back to 100% by May. This year, especially over the last couple of months, we have achieved record breaking sales levels, so fingers crossed it continues throughout the rest of the year. Good luck to you and all in the new world that is forming in front of us.
9:05 "Thank you very much Peter, I appreciate you...... listening"
Almost pulled a DJ Khaled there!
lmao nice spot
Dj khaled, please explain ?
Search "DJ Khaled, Hold You Down -- h3h3 reaction video" on youtube.
Thank me later
Its 12 mins long... And still doesn't explain...
+Raeven Brough well if you look at the original video ''DJ Khaled - Hold You Down'' at 4:30ish there's the infamous cringeworthy monologue of DJ Khaked where he says to the girl ''I appreciate that'' which is also quoted as ''I appreciate you'' especially by H3H3. And that's what the guy in this video was about to say but he continued the sentence with ''listening'' after a pause. So he almost pulled off a DJ Khaled. Hope that explains the joke. +Jay gets it
40% of the company for 200k? He got scamed so fucking hard.
They are such scum.
yep
They knew he was desperate
They're investors, it's their job and it's where their money comes from. There's more chance of them receiving a profit from the 100k each they put in if they take 20% each instead of 10%. They've got no idea whether the company will do well or not so they can't just give him a load of money and expect to get it all back😂
+Walrai That is a ridiculous statement. Firstly, they are not idiots and he had turnover financially to show what they were getting into. Secondly, investing in someone does not mean that you need to behave like an arrogant arsehole, not does it mean you should take total advantage of someone's situation to screw them for every penny.
In February 2021, it's interesting to see what happened after this early episode from 2008. Duncan Walker Bannatyne and Deborah Sonia Meaden invested as agreed, served as directors for three years and resigned in 2011. Colin Slade, the partner not shown in the programme, resigned in 2020, leaving Paul Tinton as sole director. The net worth of the Prowaste business in 2019 was about £210,000. Maybe the skip business is worth more but, after hiring many skips for building work, I know local companies can charge less because their trucks and drivers do shorter journeys from customer to depot.
I think we agree with you... But its been a great platform for small businesses in the UK and has helped a fair few on their journey upwards.
Good work mate! You knew your business inside and out and the opposition! Good to see someone with actual business savvy for once on the show. Good Luck!
These dragons just sit there and rip everyone off. Take it or leave it, money buys you power.
Penis buys you power
Indeed, and they only look like this is shit this won't be good, so I will give you 200£. But everyone is worried that they won't get an offer if they ask for a realistic price for their realistic stake...
they basically walk in there with there pants down and a dildo in there hand saying go on ram it in
you want to fuxk me do it
I'm talking about dildos what you talking about
I own a small company that is quickly expanding, and we have reached 25 employee just this month. To give you a perspective, our 2016 revenue is projected to reach 11 million at the end of the year. So yea, I am definitely broke and i don't know anything. Sure, i ain't as rich as these dragons nor am i as "successful" as they are, but i would never let them rip me off, not like that.
Well this was a pro-WASTE of money, am I right?! HAHA... I have no girlfriend
😂😂
+Indrek wat?
Sad person
+onlyweatherlol93 mate, your name is "onlyweatherlol93" you are in no position to call someone sad anyway... lol93
That was a quick reply, seems as though you can't handle one little attack
I like how 7 years have passed, people still comment here
Keep your stupid comments in your pocket!
No they dont?
8 years have passed and I'm here for the first time now, shouting into the void that is the RUclips comments section with the rest of you reprobates!
Rubbish!
Jenny is still in a coma the last 7 years that's why she's out
jenny wasnt even there, but she still declared "I'm out"
She missed out on the free water
She did find the guy investable and the business sound.
She wasent there because
She was out
Lame
Deb ...totaly my lady in life......shes lovelly
You're giving away 1% so I'll make you an offer.... I want 99% of the company
40%???? thats nearly half your business!!! fuck that!!!!!
This one is definitely worth watching and learning from daily.
he's pretty much set for life! Very impressive pitch and confidence... good luck to them both! I wonder what they are up to now!
They actually made very little
i must say what a brilliant idea you have there mate :)
He got mugged lol
great pitch terrible negotiation skills
A Shafiq my favourite comment. Spot on
Proskips UK aJimmy Shand
Yyyyyyuuuuuuiiioolkjjjjjuuoŷ
I think he did well, the numbers spoke to the dragons as did the risk. I think securing 2 dragons for investment was a good decision even at the 40% rate. I'm glad he didn't try to bamboozle the dragons, he was honest and realistic.
You’re right but he made them a counter offer and they refused so he didn’t. Have much choice
Holy shit is this the actual companies RUclips channel?
That's amazing. As a binman I salute you!
Right back at you - without you guys the world wouldn't turn
@@SkipHireLondonPro Cheers! And congratulations. Great business. There's always rubbish and recycling that needs collecting. 👍
To be honest, he still has 60% of a company that could become absolutely colossal and potentially international if it really is one of the only companies to offer a complete package like that
niemand gelooft dat ik ben engels 30% as he was 50/50 with a mate before walking in, gives 40% away that leaves 60% between him and his mate, diluted a lot for 200k if u ask me, I doubt his mate would be too happy at losing 20% for 100k...........
40 %?!
I don't know much about business, but that seems outrageous to me. He's got the idea, he has done the ground work and will continue to do so in the future. How is a one time investment worth 40 %? The risk alone can't be that expensive
I can almost hear in the background: "Hello, it's Jenny here, I'm not actually on the show for another few seasons, but I just wanted to say, I'm out".
Brilliant.
Seasons? Are you American?
Barbara from shark tank also claims she’s out
I thought this was about dragons :(
u never heard of dragons den o.O ?
no it's drag queens
Riky Marru o.o what is that
+Dummy Dummy lmao
LMFAO AHAHAHAHAHAHA , Hey, I don't blame you 😐
Paul is a VERY good and smart young man. I wish him and his team all the best.
A very well presented pitch.
basicly they are investing in the swedish model. and this guy is getting in on the action by presenting the idea.
Sweden is even getting paid to handle the day to day garbage of western europe. other countries pays sweden to ship garbage over to sweden because other countries only have the other option of landfills, and as he says, high taxes. but sweden is recycling basicly 95% of the garbage we are paid to take care of. and we recycle what is possible to recycle through a sorter, and the rest is burned in a specific process that is enviormentally safe, turning it into energy.
this is a win win for swedes. the rest of the world needs to join in.
in my town of Örebro, our old landfill actually contains about 600 million worth of precious metal... there is sick money in investing in the care of garbage and recycle.
Its going very well thank you for asking. The company has grown year on year. Even through a hard recession period in the UK when Construction projects were on and off like a light switch. When we were on the show the turnover was £350,000 we are now up to £2 million so headed in the right direction. We have picked up some great customers and have recently launched a nationwide skip hire service called proskips.co.uk. Thanks for asking.....
he got his pants pulled down, over his shoes and was then dragged backwards around the studio whilst scraping his willy on the floor. wow.
Lmao what a thing to say
How's the business doing now? Genuinely interested
Went under unfortunately. Poor management. Sad because he seemed to be a decent guy. From what I understand cheating on his wife caused a lot of his problems.
+Dan S where did you find that out?
companycheck.co.uk/company/05897697/PROWASTE-MANAGEMENT-SERVICES-LIMITED/summary
In fact it appears that the 2 Dragons resigned as directors in 2011 and since then the company has taken off and is doing extremely well under the two original directors.
companycheck.co.uk/company/05897697/PROWASTE-MANAGEMENT-SERVICES-LIMITED/companies-house-data
So it seems that the real story is actually more interesting than your made up one.
Dave XB you've made my day))
Interesting.. In the city where I live in Sweden we have something like this but we have different coloured waste bags, throw all bags in same bin then a machine at the plant sort the separate the different coloured bags..
They both left the Company 2 months after they sign up, levi roots is the only sucess story from this program.... And of course the bbc's bonus scheme
+Jack Smith link?
companycheck.co.uk/company/05897697/PROWASTE-MANAGEMENT-SERVICES-LIMITED/companies-house-data
Both appointed 2008, left 2011. Not exactly 2 months.
Jack smith tells lies
This system HAS been running in germany for so many years
>2008
>not the bins themselves, construction waste
Chilled Schmetterling Not British but German and not cancer but Schwanz and not swear but lutscher.
Would be nice if the dragons altered the formula and didn't always ask for double the equity for the investment money...
he is the MD of the company Prowaste Management Services today in 2021.
Seems to me the lad got his pants pulled down @ 40% going on what he had turned over in a short space of time.
I'd of walked away and looked at other investment options.
40% for £200,000??? hes crazy to agree to that
20
+DL-THUG Gaming NO 40
+Jonathan Po And when the company is turning over millions, who will be laughing?
The investors.
It's not just the money he's looking for, the experience and guidance of the two investers is probably worth more to the company than the money itself.
Construction waste management? What's to manage that isn't already being taken care of? I work in construction and since i started 10 years ago, waste is segregated into separate waste skips/bins, and is then taken away to be recycled. Soooo?
It's an old episode, first shown 8 years ago and they started the company in 2006. Sounds like you might not have been around to see the problem this company (and others) solved, because they'd already solved it.
I have been in construction since June, 2005. Rest assured, it has been the same system in place in the past 11 years, and during this time it has been the same old companies.
Also, we primarily use skips, not wheelie bins as the gentleman suggests using.
I suppose it was my 11th year doing this, last week. My god.
I would not have accepted that offer.
Better go find another investor somewhere else for less equity.
The idea is solid enough.
Are you crazy? His finances showed he was in the red at least from an equity position. Only traded 3 months... And he was about to go and spend more money... He got a good deal and so did they.
He should have made the option of buying back a percentage of equity after return of investment over a fixed number of months.
7.5 percent from each would have been a fair negotiation.
8:50 _It's a _*_rubbish_*_ idea, I'm not gonna _*_waste_*_ your time_ :D
I'd like to see Bill Gates as one of the Dragons for a day. He would just chuck a million at each person and just say "I don't want any part of the company just go make your fortunes!"
AICabal what makes you think he would be like that?
I have the absolute opposite perception
@@reneeleese he's given endless amounts of money away. It's wild.
He has money in the degree that he almost literally could never spend it all even if he tried
lol no he wouldnt, he is tighter than a ducks ass. The rip off prices microsoft charge are rediculous and thats him. Chuck a million at them for nothing, what planet are you from? :oD
Jesse Bella MS won most ethic company of America multiple times (don’t quote me on the "multiple"), Gates has funded many charities and pays his taxes ethically, and has given money away for different causes and projects many times.
When he started MS, he was ruthless... he has changed a lot, although you could argue that he is doing this for public image and doesn’t actually care, but I tend to give people more credit than that unless proven otherwise.
And for that reason I'm out even after 4 years
moving your shareholder loans into equity serves more than one purpose.. sure the loan is lost and never reimbursed Tax free.. but the value of the Paid Up Capital is increased to a MORE realistic value that will lessen a Taxable capital Gain when the shares are sold. to say Duncan. when u sell shares u must review the PUC to determine if there will be a Tax able Capital Gain (even during dragon's dens, the selling of shares May well carry capital gains' taxes to be paid to the UK govt before the cash on hand can be used to purchase what ever is required.. / note that shares can be then dividend each quarter out of the Retained Earnings (have to be positive and cant dividend to shareholders with out also paying corporate taxes first).. good ep.. //
Got mugged..He lost it when they told him to go to the back of the room.
Congrats on your business, hope things are going well for you.
Thank you Brian - Grateful for the support
Proskips UK How is it going then?
200k was a great deal, today prowaste is a highly respected company in the trade and last i heard were expanding into other avenues, skips i think too.
The dragons are straight up thieves
You except loan sharks to be fair?
That's what good businessmen do. His negotiation skills were poor. Always ask for 10% more than you want.
@Epoch plus5 who?
I wouldn't ask any of these arseholes for help. Too many principles so i would be a terrible business owner. I would tell Theo he's out before he spoke. Horrible little scrote
@Epoch plus5 not really. Just couldn't be treated the way these folk treat people. Is that an issue? I am sure a lot more on here have that self respect too
I am wacthingnthis video from my hometown jakarta cause there is no tv show like this here and I feel so greatfull 😀😀😀
£250k was a bigger investment (zapper.co.uk)
Misleading title.
Samara Weaving It never completed. so all though zapper accepted the investment proposal the deal did not come off
Samara Weaving nah m8 you just... failed
Samara Weaving yeah you seem to be good at doing that to people
Samara Weaving yeah i get confused when i talk to idiots
Samara Weaving that literally makes no sense though
what you just said implies that i was confused by my own comment which i left no indication of. you can't even grasp anything close to an understanding of what other people are saying it's just strange how stupid you are
Great Reply.
Honestly the dragons are so cheap and demand way too much, they have no imagination and take no risk on new ideas.
but who has the money?
Nemo Annanias
Part of the point of the show seems to be to step out of their comfort zone and take more risk / give more oppertunities
That is true but you have to consider that the so called 'Dragons' are experienced in the world of business and they can tell when people havn't planned something throught properly or have left something out that will damage their chances of making money. So the dragons do take risks but only when they believe in the person/ the product that they are investing in.
Would you?
they manage their risk correctly, they wouldn't be where they are if they didn't.
Who's still watching in 2020? ☝️
Sadly I'm watching in 2021. Man, I'm a real saddo!
It's funny how transparent these people are when they're ripping off the inventor.
I mean it doesn't take an expert to read their body language and expressions lol
That's what loan sharks do
@@mohammedyakub3760
It's only fair if you think a valuation of a business should only be based on current profits.
Not to mention, many startup business' don't even make a profit in their first year.
He seems a humble guy. He'll go places
It seems many of those offering comments have little idea about percentages. 100% of a small number is still a small number, 60% of a very large number is still a very large number.
When the average person must pay council tax and the government is forced to reduce landfill I just can't see this working
what a wonderful idea, reducing waste is extremely important so I'm glad that the large amount of money was spent on this business(even though equity was quite steep).
There was still an opportunity for further negotiating.
JEdirect your definitely right and we spent 12 months with lawyers fine tuning before agreement. The pressure and temperature in the studio got the better of us!
$200,000 for 40% is a bargain. Mind that this money is not charity money to help grow business, its a liability that the owner must ensure to grow its wealth, so that defines the term investment. At beginning the owner invests $70,000+ for 50% equity so judging by turnover value $100,000 for 20% is a safe bet. Plus the purposal to grow the company is not such big scale that demands huge cash. I am not expert in finance but i assume $100,000 they expect turnover for 6 to 8 years, at least share profit of $1,500 per month.
The dragons asked for too much, they know the guys in a desperate situation, they use that fact to squeeze as much money as they can from it.
its about the value brought by experienced dragons & 40% is warranted especially with this company being in early phases in a very competitive market ya douche
Can you install a bog in one so I can live in it?
2 months later paul ended up in a landfill himself
Whoa those zooms in the intro are extreme
Where is tooker ?? His office is required here
One dragon : I think this is a "rubbish" idea....... Waste pun 😂😂
At about 9:00 Peter also says he doesn't want to "waste his time"
I'd just *bin* the lot of them and *skip* on out of there with that *trash* talk 😅
Watching this video in 2019 you can see how much the dragons have aged over the years
Obviously 🙄
The fuck just happened they he gave away half of his company? o.O
Well played dragons...
Rick Dallas needed em to expand I guess
Sadly the company didn't grow and they (the dragons) left in 2011, the company was given back to the guy and his mate at 50% each and has grown big time and is worth millions.. The Dragons actually fucked up and now this man is set for life
40% is not half
Good call Paul, trading more equity than originally offered, for the valuable experience and connections of Duncan and Deborah, maybe try and negotiate a lower equity percentage if revenue targets are met in the coming years. Good effort and well done for being a young and successful entrepreneur!
He was a smart guy but needed dragons on board...cannot see this being a 10 million pound business though and he only got 30% of the company too...
I really hope this business partnership does well, now and in future. These dragon's do drive very hard bargain; they want a lot of equity.Its like interest rate on higher purchase & the dragon run it like a higher purchase agreement, which you don't want when you are trying get on second run of ladder in your business, you need as much help has possible.
Nice style of bloke .... glad he got the deal
both debroah and duncan resigned from this company in 2011, not surprising as the company wasnt making money at the time, and still isnt to this day apart from 2014/15/16 where it was betwene 600-900kthen took a tumble (all numbers are assesstsand not profits). paul also has a company called WALTER WEIR LTD which has been on the level of being strick off a few times
You really can't tell much from the accumulation profits. Perhaps they decided to pay themselves large wages, so the vulture dragons at the time weren't getting much, and decided to keep that level of wage
@@killler240 if they decided to pay themselvs any mount that wasnt not agreed that would have been a voilation of their contract .
@@Mathewmartialart have you seen their contact?
@@killler240 you mean contract, no and neither have you.
@@Mathewmartialart they have more than 50% shares. Even if their salary can't be changed, nothing stops them getting bonuses which would be voted on, which only needs 51%. Until they edited the articles of association from the standard one...
Thanks Connor...
How many bins would you need on a building site
Why just construction company waste disposal bins. Even South Africa has these bins in most of our residential areas. No, the municipalities don't own them. They are privately owned and even little kids make use of them.
Is this really the largest investment in the shows history? That's very low compared to shark tank
Fucken !! Clever..mate awesome pitch very sharp..
And also, is Paul giving away 40% of the entire company? Is he left with only 10%? (assuming he cant give away Colin's part)
both of their shares shrink equitably
What the guy above me said lolz yea 30 he will own
+Andrew Summers unless his partner says he didn't agree to this deal hahah
He wouldn't be able to make a deal with investers like this if the Co owner didn't agree with it.
GiggsIsLegend you act like he did this without his partners knowledge. he clearly called and talked it threw.
Real genuine nice guy. Hope it worked out for him
Thank you Tommy - We are always grateful for comments from nice people.
@@SkipHireLondonPro are you doing OK.
Waste management is easy; you pick it up as you go along.
Is Deborah still involved? The company seems to be very profitable since this was recorded several years ago.
He did not need them but sadly he did not know it. They did however and took advantage of his inexperience. Once he makes his first million he will be sick as pike he gave away 40% of his business for £200,000.
do people realize this was years ago?
Duncan will take the waste away in his fleet of ice cream vans
The rich are getting richer!
The poor getting poorer, and that's how they like it.
As a Nature friendly company, couldn't he have gone to the administration to ask for help!?? Or to the bank ... but that another strategy which is more complicated ... They could have asked my advice ...
do they do a catch up on these things to see how the business turned out?
Why we dont have this yet? Omg we need this at normal homes to
The problem is. Most people of the home domestic kind, don't care about what which bin takes.
Some will stuff down the bottom of the bin, what's not intended and cover with what should be there, so disgusting the fact.
They don't really give a f##k!
We already have those in Sweden...
40% is disgusting its highway robbery
net earnings isnt the only thing to value a company, look at any starting company (snapchat/ twitter/ amazon)
@10:55 What did he mean when he said, we'd be prepared to go for 33% if you would still accept it for 16.5%? Does anyone have a clue?
Fukin twat, what does that mean though?
mrwisem4n Their first (and final) offer was to each invest £100k for owning 20% of the company each (adding up to a £200k investment and 40% ownership). His counter-proposal was that for the £200k investment they'd get 33% of the company, which is the same as 16,5% each for investing £100k. They didn't go for that though.
impero101
Cheers fella
Np mate. Hope it helped.
16.5% for each dragon makes 33% rather than 20% each, which is 40% of the company.
5:31 sold - naughty Deborah ! That look !
Will Mitchell I saw and felt that “decision made moment” you have highlighted
@@TheTriformationT After me :)
Joseph, I am not sure if stupid is the right word? The benefits of being on the show and completing an investment are multiple. As a small business we needed to improve our visibility in the market, we also needed to raise money as the banks just weren't lending and yes we needed to grow. We were happy to give away a large percentage because business is about more than equity.Pay you and your staff a handsome wage,equivalent to your peers and then share what dividends are left with investors.
its always like this on this programme they want a large stake in the company
They want a large stake as a result of the risk involved. They're not asking for a high stake on something low risk....
What a fucked up system we live under. Half of your idea for some money I have
Jesus this was 6 years ago.
Did it work out?
@Greaser5550 6 years/11 years there isn't much difference!
;-)
This is already in eastern Europe for years...