Andrew Hannon entered the Den in 2013 seeking £50,000 for 20 percent equity in his business 13 Horror limited. 13 Horror limited is a business based on fear.
Andrew explained that the book gives a set of dares for someone to play alone in the dark. They are then asked to speak out loud after reading a set of prompts and then players are prompted to decide at the end whether they want to invite something from the other side of the door in.
He continued: “I know it’s in my imagination why would I be scared [of something behind the door].
“That is the most ridiculous business idea I have ever heard.”
He disagreed saying that he has generated £14,000 gross profit since since the business started. His net profit is £13,500.
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Theo Paphitis said: “You sold 10,000 books which I think is amazing for a self published which is brilliant.
“You’ve done all the right things but you don’t need £50,000. The market you have attracted so far is the market you should be staying in. Stick to the sector and the niche you are successful in and you can go from there. I can’t, invest I’m out.”
Duncan agreed with Theo and explained that it’s not ready for investment just yet.
He wished him the best of luck but said he could not invest.
With Dragons’ Den recently coming to a close for another series, it is interesting to look at previous pitches that have received investment, and one’s that have not.
Despite not leaving with any investment, many entrepreneurs have gone on to do great things with their products. For example, Tangle Teezer, a hairbrush company, is now worth £200million. Rob’s rejection has also been one of the biggest success stories in the show’s history.
Dragons’ Den is available to watch on BBC iPlayer.
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