Dragons' Den: 18-year-old entrepreneur given three offers
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TV fans will instantly recognise 18-year-old Myles’ grandfather as Bargain Hunt and antiques expert David Dickinson. But he was reluctant to rely on David’s name to help him secure a deal on Dragon’s Den and managed to impress the dragons with his credit card pitch.
Myles, who has just finished his A-levels, managed to make £5,000 to start his business by selling old items on eBay.
He offered the dragons a 35 percent stake in his business for an investment of £35,000.
Myles explained he was launching personalised credit cards and Sara Davies was instantly impressed with his business acumen.
She asked: “Is that upbringing, is that genetic?” as Myles said his father “runs a business” and his grandfather is “on TV”.
This sparked interest from the dragons, who eventually found out David Dickinson was his grandparent.
But while this might have impressed the dragons, it was Myles’ business which sparked a fight between Peter Jones, Steven Bartlett and Touker Suleyman.
All three wanted a stake in Myles’ business and the youngster was quick to ask what they could individually offer him.
Steven told him: “I’m a sucker for this stuff. I am the target customer for this kind of product because whenever Revolut pop up with any kind of personalised card, I’ve bought all of them.
“Those challenger banks, Revolut, Monzo, Starling, they’re all allowing increased personalisation of your debit card.
“I can put emojis on mine now, I can write something on mine now. Do you see that as something as a threat to this business.”
Myles replied: “I don’t see it as a threat, I see it as an another avenue. You could never do any of the designs we do here on those cards.
“With our cards, as you can see, we can put your numbers on the front or the back. It’s fully customisable, you can drag and drop your account number, expiry, things like that.”
Myles explained he needed more machines to customise more cards per day in the hopes of going global.
Peter said he believed he could help Myles take his business “to a huge level” and offered all of the money for 35 percent, which is exactly what he was asked for.
Touker followed suit and told Myles: “Time is what you’re going to get for me.”
Peter argued: “Nobody has mentored, helped and assisted more young people in Britain than me.”
But it was Steven who cinched the deal as he promised: “I’m going to go one step further, you can come and work in my office with me and my team. I am the guy for this business.”
Steven offered £35,000 at 35 percent also and Myles accepted it and was excited to get started.
Dragons’ Den airs Thursdays at 8pm on BBC One.
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