We gave the ‘perfect’ Dragons’ Den pitch and scored £50k after picking from five offers – here’s how
THREE ambitious best friends bagged five offers from the Dragons’ Den millionaires.
It was a full house for Marisa Poster and brothers Teddie and Levi Levenfiche – who ultimately walked away with a £50,000 investment from businessmen Steven Bartlett and Peter Jones.
The trio, who all live together in London, are behind Europe’s first matcha green tea-powered canned energy drink which rivals Red Bull.
Despite having just five days to prepare, and Teddie battling a nasty bout of glandular fever, they wowed the panel with PerfectTed.
Not only did they have five investors throwing cash at them, Sara Davies even described their pitch as near-perfect.
She said: “If there was a case study on how to come into the Den to pitch and knock it out of the park, you would absolutely be it.”
Now, they’re on track to rake in a mighty £4million in revenue in the next 12 months.
So how did they do it?
Marisa, Teddie and Levi reckon it was all about knowing their numbers, remaining focused, and keeping things light-hearted – even cracking a joke about Steven’s youthful looks.
Watching previous pitches on YouTube and not over-rehearsing were also key, they added.
Marisa said: “We only had about eight months of trading history so there wasn’t too much financial data to sift through, but we spent a while working through our five-year forecast.
“We spent every moment for the five days before the pitch living, breathing and dreaming about those numbers, as well as market and consumer data and product information.
“We must have written down a list of more than 100 questions they might ask from watching so many YouTube clips.
“But believe it or not, Teddie and I only ran through our pitch from start to finish four times before actually going on the show and the first time we nailed it was in front of the Dragons.
“The most important thing is just to know your business inside and out.
“Try to prepare as best as possible. And if you don’t know the answer to a question, just be honest about it.”
Marisa and Teddie, both 25, entered the Den asking for £50,000 for a five per cent stake in their business.
Beginning the pitch, Marisa, who is originally from New York, said: “For years I’ve struggled with ADHD and anxiety, which was particularly challenging while studying at university in the US.
“I would consume copious amounts of coffee and energy drinks to help me get through the long study days.
“But the caffeine gave me jitters, crashes and exacerbated by anxiety symptoms.
“That’s when I discovered matcha – a powdered Japanese green tea that offers slow-release energy.
“I was hooked, so naturally I recommended it to everyone, including Teddie who at the time was studying to go to law school.”
I’m thrilled to support this incredible product and its visionary creators.
Steven Bartlett
Teddie, from Hampstead, north-west London, added: “We found a massive barrier for people switching to matcha was its umami flavour and the time it took to prepare.
“So, when Marisa moved to London last year, we quit our jobs in finance and created an on-the-go solution – the UK’s first matcha-powered energy drinks flavoured with real fruit, so that everyone else could feel as amazing as we did.
“Our drinks will keep you energised for twice as long, improve your focus and give you the antioxidants you need to look as young as Steven.”
At this point, the Dragons erupted into laughter and the pair knew they were on to a winner.
They went on to explain how in just seven months their products landed on the shelves of 450 Holland & Barrett branches nationwide, as well as Planet Organic and several grocery stores in the US.
They then offered the drinks round for a tasting before delving into their finances – explaining that they had already raised an investment of £245,000 through director and family loans.
Four Dragons offered all the money in exchange for 10 per cent of the business, but Deborah Meaden quickly undercut her rivals by proposing £50,000 for 7.5 per cent.
PerfectTed eventually accepted the full amount for 10 per cent, split between Steven and Peter.
SUCCESS STORY
Diary of a CEO podcast host Steven said: “Once in a while you have entrepreneurs come into the Den that you just have a huge degree of admiration for, and the journey you’re on as young entrepreneurs is a similar journey that I’ve been on as well.
“I’m thrilled to support this incredible product and its visionary creators as they revolutionise the beverage industry with their unique blend of matcha and energy-boosting ingredients.
“PerfectTed is more than just a drink, it’s a symbol of what can be achieved with creativity, determination, and a willingness to take risks.
“I am excited to see where this journey takes them and proud to be a part of their success story.”
Housemates Marisa, Teddie and Levi came up with the idea for PerfectTed while working long hours before officially launching last year.
Marisa said: “We’re all best friends – the boys are brothers and Levi is my partner…. It’s like an episode of Friends.”
They would batch-make big jugs of matcha to get them through busy periods before realising there must be a better way.
The few matcha powders and drinks on the market that they tried tasted grassy and bitter, they said.
Or, if they were slightly more palatable, they were packed full of additives and sweeteners and used low-quality matcha.
After six months of obsessively sourcing sustainable, organic, ceremonial grade matcha from farms across Uji, Japan, they finally met their match.
And by fusing it with fresh fruit juice and lightly sparkling water, they had PerfectTed, which is available in three flavours – pear ginger, apple raspberry and pineapple yuzu – in Tesco for £1.75.
Four-can multipacks for £6 will launch on March 13.
The products contain 80mg of caffeine – equivalent to a can of Red Bull or a small cup of coffee – but won’t see your energy levels crash.
The name comes from Teddie being “perfect” growing up – head boy at school, a college athlete at the University of Pennsylvania and potential pro footballer, and securing a spot at Harvard Law.