James Roupell from Bobo Buddies, secured £50,000 investment on Dragons Den for his small business venture.
Bobo Buddies makes functional cuddly toys for kids. Its flagship product is a backpack that also combines a soft toy, pillow, and blanket.
James had the idea for his business in 2012 while sitting on a plane. “I was surrounded by kids and there were soft toys and blankets strewn everywhere,” he said. “When I was small, my granny had sewn a blanket into my favourite toy and I suddenly thought, why don’t I start making these all-in-one toys.
After presenting his business plan and ideas to the dragons, James received offers from all 5 dragons, but he came into the den with the hope of getting an offer from Peter Jones and Deborah Meaden.
However, James was not happy with the 40 percent of the business the pair wanted in return for their investment. After a tough negotiation, they agreed to reduce their percentage if certain targets were achieved. It was enough of a concession for James to accept, and left the final episode of the series with the full investment he required.