Rehook, the cycling tool designed to get you chain back on your bike without the mess, was pitched on episode 4 series 17 of Dragons Den on Sunday 1st September on BBC2. Rehook impressed the Dragons so much that Inventor and Founder, Wayne Taylor was offered investment by all 5 of the business giants, making Rehook one of very few companies that have received offers from all five Dragons in the Den since the show began.
The offers were made...
During the pitch The Dragons were given a demonstration of this simple to use tool. Theo Pathitis, well known for testing products in The Den, was suitably impressed. He volunteered to fit the bike chain with his fingers, expecting to disprove the need for the product. After thorough questioning, followed by a tense wait, each dragon in turn made an offer.
... a Dragon chosen
The Entrepreneur considered his options and walked away from the Den with a £50,000 investment from Deborah Meaden, in return for a 25% share of the company. After the show, Wayne shared his thoughts on the investment...
“I’m really pleased to have Deborah on board. It was fantastic to have 5 offers but I have always been impressed by Deborah’s straight talking and pragmatic approach. She is already having a positive impact on the business and I’m looking forward to working with her as the business grows.”
- Wayne Taylor, Founder of Rehook
Odds stacked against us!
Although the pitch was successful, Waynes time preparing for the Den was fraught challenges.
“I had intended to go to the show with my wife Anna, but our 2 boys came out in chicken-pox just before the show was recording. I also had a wardrobe malfunction as I was about to walk into the Den. Luckily another contestant had a spare shirt that they had worn on the drive to the show. It was a bit big for me and it definitely needed a wash, but I gave it a quick iron and I headed in.”
Success and forward unto the future!
The tool, which makes a perfect gift for a hard to buy cyclist is currently available from Amazon and the company's website www.rehook.bike (RRP £12.99). Since the Den, Wayne and Anna have begun to work on the business full time and looks forward to accelerating the companies growth and expanding its range of product.