I rejected £40k offer on Dragons’ Den – now I’m about to make £5million and laughing all the way to the bank
A DRAGONS’ Den participant who rejected a £40k investment offer from Tej Lalvani is now on the road to making millions.
JAM saleswoman Rachel Kettlewell has recently secured another £450,000 worth of funding to make her jam business even more mainstream.
The budding entrepreneur launched her jam business called Fearne & Rosie in 2019 and was featured on BBC‘s Dragon’s Den in 2020, where she secured an investment from investor and Vitabiotics CEO, Tej Lalvani.
While on the show, Rachel expressed wanting to produce and provide healthier jam alternatives to families across the UK.
Dragons Deborah Meaden and Sara Davies didn’t invest but supported Rachel’s product and gave her lifelong advice on keeping her business booming.
The jam maker initially accepted the £40,000 investment and the deal of handing over 30 percent of her business to Tej.
However, after the show she decided not to go ahead with it and expressed that the jam firm took off after appearing on the show.
It also dawned on Rachel that £40,000 was not enough for her to grow the business how she wanted, prompting her to reject of the offers.
Since starring on the BBC investment show, her business has skyrocketed and is on the path to generating £5 million with her products stocking up in Ocado, Waitrose and many other big supermarkets.
In an exclusive interview with Express, she explained: “Fearne & Rosie was so tiny then; it was right at the beginning.
“On reflection, it wasn’t the monetary investment that I needed at that point…What I needed at that time was time, mentorship and support to teach me how to run a business.”
Her business Fearne & Rosie has started to become the people’s favourite, and in the past 12 months, it has grown by 400 per cent and is due to hit its £5 million turnover by 2025.
Rachel is grateful that her exposure on Dragon’s Den has been gained her new customers as she added: “I’m always so grateful that we got to be a small part in such an incredible show.”
A few years after being on the show, the savvy businesswoman gained a £450,000 investment from TwinklHive, the investment arm of global educational publisher Twinkl.
Rachel aims to use the investment to widen her retail distribution.
The children’s jam maker is aware that consumers do their weekly shopping in supermarkets, and that’s where her jams need to be.
She continued: “As a business, we’re committed to ‘spreading goodness, and my ultimate aim is to build a targeted school support programme.
“I wholeheartedly believe education is key, and that’s why Fearne & Rosie is dedicated to providing resources for schools and wider families on how to make easier, healthier choices.
”That’s why the investment and support from TwinklHive is so exciting. We’re already making headway on this through our wonderful partnership with BBC Children in Need.”
Most recently, Fearne & Rosie Strawberry has secured its spot on Amazon, Booths and certain Morrisons stores.