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Dragons' Den is a British television programme, presented by Evan Davis. The format of the show is owned by Sony Pictures Television and is based on the original Japanese programmewhich has been sold around the world.
The show allows several entrepreneurs an opportunity to present their varying business ideas to a panel of five wealthy investors, the "Dragons" of the show's title, and pitch for financial investment while offering a stake of the company in return.
Contestants have what they believe to be a viable and potentially profitable business idea but lack funding, or are already operating their business, but need additional funds for promotion or expansion. As part of their opening pitch, they are required to specify the amount of money they require from the Dragons. The rules stipulate that if they do not raise at least this amount from one or more Dragons, then they would leave with nothing.
In exchange for the investment, the contestants offer equity in their business, the percentage of which is also stipulated at the beginning of the pitch. If the Dragons see potential in the business idea or product, negotiations then take place around the amount of equity on offer, with the contestant having the opportunity to negotiate further, accept any offers, or simply walk away. Dragons can also offer a percentage of the money requested if they do not wish to commit the full amount, leaving the other Dragons free to do the same.
This can lead to the contestant receiving the financial backing of more than one Dragon, with the benefit of a broader range of expertise. However, for this to occur, the contestant usually has to agree to relinquish a larger share in their business than they had first planned. A Dragon who, having heard the pitch, does not wish to invest, must declare themselves "out", implying that they leave the discussion. However, on one occasion in series 4, Peter Jones continued to question an entrepreneur after his own declaration.
This concluding phase may range from a few minutes if the Dragons do not perceive the business plan as credible, to much longer when complex conditions are negotiated. The Dragons often ridicule contestants, on grounds that vary widely, but especially for over-valuation of their respective enterprises. There is no legal commitment for the Dragons or producers of the show to fulfil their offers.
All deals undergo due diligence before contracts are ed. It is claimed that half of deals are not completed after filming. The opening sequence was shot in AncoatsManchesteran area transformed by the Industrial Revolution which helped give the city its nickname Cottonopolis.
It was originally filmed inside a furniture depository in Stoke Newington. The production were forced to move after the first series owing to building work next door. For the second series shooting took place in a disused warehouse, Wool House. It was the first set created by production deer Laurence Williams, requiring the construction of a section of the window wall and the staircase down to the lower floor.
The owner of this warehouse converted it into flats necessitating a further move to Tanner Street for the next few series. Here another more extensive set was created including cutting a hole in the floor and again creating the stairs down to the lower floor. Building work required another move, this time to Pinewood Studios, only two weeks before a series was due to be shot and the production deer had to create a complete set on the film stage including a staircase which descended down into the underfloor tank.
A brand new set was created for the move and was screened in the latter part of for Series Space Studios Manchesterin Gorton, was also used to film the programme from to Statistics as of confirm: . Episode ratings from BARB. Where Are They Now? Cameras followed Charles Ejogo, who planned to put umbrella vending machines in London Underground stations, jewellery deer Elizabeth Galton, magazine publisher Huw Gwyther and Rachel Lowe, whose London-based board game caught their eye.
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Following this, another one-off two part special was broadcast on 28 September — 8 October Later, two full series of the show were commissioned, with series one, of four episodes, being broadcast between 18 July and 2 August Series two, of five episodes, each following a respective Dragon and their investments, was broadcast between 17 September and 24 October Duncan Bannatyne's episode followed him as he travelled to the south of France to oversee his daughter's wedding, and then went back to work to follow up on some of his investments.
Theo Paphitis' episode followed him as he took 90 employees to Greece for a week of team-building exercises, and also visited two companies he invested in to see how they were getting on. Series five, episode nine also featured at a look back at deals from the series, in a similar vein to Where Are They Now? Outside the Den takes a step back from the world of Dragons' Dento take a personal look at the Dragons themselves, including personal and intimate interviews, a look behind their business credentials, and taking the cameras into their personal lives. Six episodes of the series have been produced — with the first set of five episodes airing between 27 October and 23 Novemberand following Theo Paphitis, James Caan, Deborah Meaden, Peter Jones and Duncan Bannatyne in their own respective programmes.
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A further episode, focusing on new Dragon Hilary Devey, was broadcast over three years later on 29 December The Best of Dragons' Den focuses on presenter Evan Davis taking a look back at the best and worst pitches from the past series of the show, as well as revealing some unseen pitches that were so bad, they didn't make it to broadcast, and talking candidly with the Dragons involved. Two series of the show were produced, the first accompanying series two, with three episodes being broadcast between 19 January and 2 Februaryand the second accompanying series six, with three episodes being broadcast between 23 February and 9 March Dragons' Den: On Tour was a series of five episodes which aired between 6 September and 7 October Each episode follows the Dragons James Caan, Deborah Meaden, Peter Jones, Theo Paphitis and Duncan Bannatyne as they travel by bus around the United Kingdom to find out what some of the budding entrepreneurs who had appeared on the show have been up to since, including success stories, awful failures, and some very obvious missed opportunities.
Dragons' Den: Online was a special, online version of the show, which follows the same format as the main show, but is presented by Dominic Byrneand features Shaf Rasul and Julie Meyer as the Dragons. Episodes were posted weekly, for six weeks from 16 September to 7 Octoberand viewers could participate by rating business plans before the two Dragons offered their verdict. A of one-off specials accompanying the broadcast of the main show have also been produced, often as Christmas specials or charity specials. The following eight programmes have been aired thus far:.
Dragons' Den: Pitches to Riches reviews some of the more memorable and successful pitches. Some contestants have gone on to reach the market with their products despite being turned down by the Dragons and have met with a range of success. Examples include: hungryhouse. He rejected it after filming, claiming that he had a stronger vision for the company than either of his investors.
At the time, this was the largest investment offered on the show. Shortly before the launch of the second series inElnaugh's company Red Letter Days went into administration and its remaining assets were bought by fellow Dragons Peter Jones and Theo Paphitis. Although Elnaugh was at the helm before and at the time of the company's failure, she blamed the problems on the actions of the CEO whom she appointed inwhilst she took a non-executive role to have her fourth.
Following disputes with other Dragons, and the continuing uncomfortable position of the BBC allowing a perceived "failed" businessperson to continue investing on the show, she agreed to leave the Dragons' Den panel. Richard announced his departure from the show inhaving failed to make any investments in the second series. It was announced on 18 May that Farleigh had been dropped from the series. In Juneit was announced that after only two series in the show, Devey would be departing the show to front her own business series for Channel 4.
Devey was replaced by Kelly Hoppen for the 11th series in On 7 FebruaryPaphitis said that he would be leaving Dragons' Den because of other commitments. Linney announced that he would be departing the show at the end of series twelve, in order to focus on various other projects and dedicate more time to his family.
On 23 JanuaryKelly Hoppen announced her departure from the show after two series, stating she was unable to commit to the filming schedule whilst she focussed on other commitments. It was announced in July that, due to "other business commitments", Bannatyne would be departing from the show. This left Jones as the only remaining original Dragon. Willingham departed the show on 31 January after two series, confirming that she had decided to take a year out travelling with her family and was unable to take part in the programme.
Jenkins confirmed he was leaving on 31 January alongside Sarah Willingham, also after two series, saying "I have thoroughly enjoyed making Dragons' Den but I want to focus more on my portfolio of educational technology businesses and that would make it difficult to take on any more investments from the den. Campbell left Dragons' Den with her last episode airing on 3 February In Januaryit was announced that Lalvani would be leaving the show after four years, to focus on the expansion and development of his business Vitabiotics.
He left at the end of Series Although the BBC has never made any secret of deals that succeeded or fell through, usually offering a follow-up in the final episode of the series, investigations conducted in and respectively by the Sunday Mirror and The Daily Telegraph newspapers criticised the show, reporting that many of the deals were unfulfilled after the programmes were shot, alleging half of Dragons' Den investments fall through.
They tend to pick pitchers who are TV-friendly rather than those who are investible with a healthy balance sheet. The Dragons have defended their record, blaming the failures on the entrepreneurs themselves, claiming they were dishonest in their pitches. Duncan Bannatyne said: "We don't hand over money to people who don't tell the truth. The show is not about a cash prize, it is about us pledging to invest. But people must tell the truth.
But what they find when the publicity dies down is that they still need help running the business.
A BBC spokesman responded to the Sunday Mirror in saying: "After the initial agreement is made on camera, both parties enter a period of due diligence. Sometimes during this period the deals fall through. The BBC plays no role in the deal after recording, and we accept that it is typical for some angel investments to fall down at the due diligence stage.
The differences between the agreement televised and the deals proposed after filming have caused controversy regarding how entrepreneurs are treated on the show.