Sam's left a teaching career to set up a company that's already having
quite an effect on his clientele.
So, we've had a couple of people vomiting.
We've had a couple of people pass out every now and again.
Yeah, it's not conventional.
Sam is hoping the five Dragons have settled stomachs and appetites to
invest. I think their first impressions may be a bit shocked.
Oh, my God. God.
Oh, dear. Is this the solution to everlasting life?
Hopefully they're not too put off by the smell.
I just hope this guy's name isn't Hannibal.
SHE MAKES HANNIBAL LECTER SLURP
Hello, Dragons. My name is Sam Piri, and I'm here today to ask for
£90,000 in return for 5% of my business,
the ITAE Group. The ITAE Group started its journey back in 2015
when I was a secondary school teacher
and we're now operating across schools, hospitals,
colleges and universities throughout the UK.
In terms of what we see here, this is Vivit,
one of our trademarked concepts and he allows us to deliver anatomy and
physiology training to nurses and like disciplines.
So, for example, here we have the thoracic cavity.
It's quite good in the sense that it allows health care practitioners to
be able to really contextualise and to see the organs in situ, which is
something they don't usually get as part of their routine training.
I'm just going to remove the heart specimen so we can see what
a surgeon may do during a routine procedure.
Can I just check, are they real organs?
OK, so, all of the specimens that we use are harvested from pig specimens.
No animals are raised specifically for our events, so normally this would
be incinerated as a waste product, so we add value to that and stop it
just going to landfill. And with your investment,
hopefully we can start looking to get into America and also into mainland
Europe, so if you'd like to come up and have a look little bit closer at
some of the specimens, and then after that
I'd be happy to take any questions.
An anatomical pitch from secondary school teacher turned entrepreneur Sam Piri.
Ooh, God.
Actually, that turns my stomach.
I can't do that. No? Can't do it.
It's the smell.
Have you got a sick bucket somewhere, just in case?
Sam's bringing physiology classes to life,
using synthetic bodies and real animal organs.
You can see the stomach, the liver...
That's everything from brain to anus.
Oh!
He's asking for a £90,000 cash injection in return
for a 5% stake in his body research enterprise.
Heart rate? Beep, beep.
If you pop your gloves into the other bucket,
there's some hand gel on that shelf.
Fresh from his first open-heart surgery,
Peter Jones now wants to dissect the business.
Well, thank you for that. Thank you.
It's incredibly educational.
I want to check from what you've said, though, whether this is a business?
Yeah. So, how does the business work?
Where does your income come from?
OK, we have three flagship projects that we operate.
We have what are called direct bookings, where institutions book events direct with us.
The typical charge for that, on average,
is around about £2,000 for a one-day experience, and that's for around
between 60-100 students.
We then have what we call our ticketed approach,
so we market the events to the general public and to health care
practitioners and to university students.
Those events tends to be for 115 capacity and they will raise around
about £15,000 in turnover per one-day event.
How much did you say? £15,000 per one-day event.
15,000. Yeah. That's huge. Yeah.
We then have the Anatomy Lab Live.
That £89 a ticket for the evening. That includes a two-course meal
and dinner and dissection, so they get to dissect the head,
the brain and they practice surgery.
I just can't imagine me going home to say,
"We're going to go out for dinner," and she's going to go,
"Oh, that's great, darling. Yeah, lovely."
And then we end up...
..somewhere for dinner where some body is being dissected.
The dinner and dissection has been really well received.
I mean, we get...
Every venue has sold out across the country.
150 tickets. But that's...
Am I just on my own here? It feels kind of weird.
Actually, I agree, because today people want experiences.
It's all about experiences. Younger generation want to feel and do
different things and something like this, although crazy as it may seem,
it's an experience you can talk about, right?
And say you've done. But who's your audience?
So 80% of the audience are health care practitioners in general.
You don't get cannibals turning up your events?
Erm... Vampires?
No. We've not had any vampires, no.
Does anyone leave? We've had a couple of people that have said
it's too much for them. Apart from that, it's just very well received.
Sam's pungent but profitable business has captured the attention
of the Dragons. Health care tycoon Tej Lalvani wants to take a scalpel
to the scalability of the business.
How many events can you run a year?
So, at the moment, we probably have around about 200 what we call active
days. We hope get that up to around about 330 active days in the next
financial year. But you could scale up substantially more than that if you wanted to?
Yeah, yeah. Can I ask you about the US?
Have you got any competitors there?
As far as I'm aware, I can't see anybody doing that in the States
and this is kind of why I want to move quite quickly in terms of getting this
product out there. Actually, I agree,
because what I think is, you need to grow quickly, because you've got a
unique idea.
You need to be everywhere. Yeah. In the UK,
but I think internationally, as well.
A standout product in an untapped market -
two things that have pricked up the ears of Tej Lalvani.
But Touker Suleyman wants to flesh out the entrepreneur's motives for
entering the Den.
I'm trying to work out, what does Sam want from me?
He wants you to donate your body for research.
He wants to cut you open. I could do that, I could do that.
What I'm asking myself is what value can I add to your business
that would encourage me to invest in you?
I think, basically, in terms of planning and executing this...
I was a teacher.
I have developed business skills, because I come from a family that have
got businesses... Get to the point.
So just... If you've got access to contacts, in a sense, guidance.
Right, contacts. So, what sort of contacts would you want from me?
Press and media contacts in the States,
anything to make audiences in the States purchase tickets.
In terms of contacts, I mean, as you know, I run a vitamin company,
a health care company. Yeah.
We've got direct connections with over hundreds of thousands of doctors
worldwide, so what you need is to be plugged into that network, as soon as possible.
And I believe I'm that partner to help you.
So, I'm going to give you an offer.
OK, Tej.
I do believe you're going to need more than £90,000.
So what I'm willing to do is offer you
£120,000...
But I want 25% of your company.
Tej Lalvani makes an early play for Sam's company,
offering up all of his medical connections and some extra cash,
but asking for a fivefold increase in equity in return.
With one offer already on the table,
Jenny Campbell is ready to give her view on the medical business.
Sam, for me, you don't need to do any more in terms of, "Is this an investable business?"
Absolutely, this is an investable business.
You are fabulous.
So for me, it's then about what value could I add to that?
And much as I would like to be part of this,
I feel that there is a better Dragon in the room who is already in health
and wellbeing, so, with regret but with my best wishes, I'm out.
Sam. Yes.
You are very investable.
And this is great,
however, I can't see how I can add that much value in your business.
But you have a great business.
Unfortunately, I'm not going to invest today and I'm out.
A double Dragon dropout means Tej Lalvani's position
is significantly strengthened.
But Deborah Meaden isn't ready to throw in the surgical towel just yet.
Well, I think our Dragons have turned into pussycats because...
Because if I really like something, I'm going to go for it.
It is fair to say, of course,
I won't pretend that I've got the contacts directly into the
health industry that Tej has, but I don't think that's all you need.
I think, certainly in terms of growing businesses,
quickly taking them internationally, you know,
I can absolutely add value on that.
It's a well-trodden path for me.
So, I am going to make you an offer.
And I'm going to offer you all of the money...
..for 15% of the business.
Thank you, Deborah.
Deborah Meaden sniffs out a business with potential and makes her move.
Will Peter Jones want to join the postmortem party?
I understand what you're doing.
It's very much focused on events. Yeah. And from my perspective,
you need to have somebody who has experience with events and managing
those events. And, obviously,
I'm lucky enough to have been involved
with a couple of businesses that do that extremely well.
So I kind of understand this market of where you need to go.
I'm interested and I'm going to make you an offer.
OK, Peter.
So I'm going to offer you all of the money... Yep.
..in return for 20% of the business.
Right, OK. That puts me in a predicament.
Sam, while you're thinking about that,
I actually entirely disagree with Peter's school of thought.
I think that, you know, if you want to run a circus, and entertainment,
maybe that's the route, but having that network where you have access
to the top doctors internationally is key for you.
I don't know in what way that disagrees with me.
Well, because we're talking about medical colleges, hospitals,
we're talking about having the connection to the right doctors and that,
I believe, could be what could accelerate your business.
Can I ask if any of the three of you would be interested in doing anything together...
..percent-wise? Sam, look, I mean, this is my area.
Yeah. I don't think you need another Dragon.
I've just launched in America another 7,000 stores nationally.
I believe that if you want to grow, I'm your guy.
For me, I'm happy, you know, if I had 10% for half the money.
And Deborah had 10%.
Me, too. Yeah.
Then you have got two for the price of one.
Yes, you know, Peter and Deborah can join forces,
but sometimes more Dragons dilute the focus.
Yeah.
Just so you know, no-one complains of Peter or I diluting focus, do they, Peter?
No.
Just give me a moment.
Sam now has two offers to consider.
Tej Lalvani is asking for 25% of the company in return
for all his health care connections, plus some extra cash...
..whilst Peter Jones and Deborah Meaden are happy to partner up for a
slightly smaller 20%.
Both deals mean giving up a sizeable stake in the business.
But Sam isn't done negotiating yet.
OK, after consideration, would you consider 14%?
That's a nice try.
For me, that's a no.
25% is my final offer, so I'm going to stick to that.
I would personally be willing to invest half the money for 10%,
but when my funds are repaid, I drop to 7.5%,
but it would have to be that Deborah would accept the same.
OK. I'd be happy with that.
I'd like to accept your offer, Peter and Deborah.
I'm sorry, Tej. Excellent! Right, brilliant.
Well done. Well done, well done, you.
Thank you. Really good.
Didn't see that coming.
The entrepreneur exits the Den with a tag team
of the two longest-serving Dragons
and £90,000 in the business bank account.
I was shaking inside at one point.
My palms are sweaty, but held my nerve, stood my ground like you do in business,
made a deal and hopefully great things will start to happen.
Your whole brand is about keeping people alive, not dissecting them.
Well, yeah... If you had lowered your stake to the same level
as Deborah and Peter... He still wouldn't have got the investment.
He might have had a chance!
But, Tej, I appreciate you trying.
That was great.