Business plan dragons den store

LinkedIn The dragons are on the prowl again, and you can feel the heat from here. I called myself a Deputy Dragon. It was so inspiring to meet these entrepreneurs, lured at last out of their garages and spare bedrooms where many had nurtured their business concepts in silence for years.

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Almost 10 years later, the Hamilton-based direct sales company has grown tremendously, and now has almost 7, consultants around Canada and the United States. What we are is a tea party company. When you look at our catalogue, we have lots of tea, but we have hardware as well.

We also have baked goods. We have a line of soaps.

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We have a line of jams. The sales model that suits many individuals today Tonia and Hatem, married, both had busy, high-pressure careers before Steeped Tea. She left her former job as the couple decided to prioritize starting a family, and she began selling tea baskets locally.

That first tea party sparked four other tea parties. She would consult with the hostess about what specifically she wanted to do at the party, whether it was to sample white teas, green teas, black teas, or have a martini party.

She got very creative. Every time she attended a party, people at that party would want to book a party as well.

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As their family grew, the Jahshans knew that it was time to think about expanding the business beyond Tonia herself. Waiting too long to book parties meant that hostesses lost interest, whereas booking too many compromised quality time with the family.

Tonia, who had put herself through college with direct sales, decided that direct selling was the best way to grow the business. Tonia implemented the sales model with a close group of friends. Now, Steeped Tea has thousands of consultants who appreciate the flexibility that the direct selling model allows.

The nice thing about this model is that she spent the whole day with the family, with the kids, and she has that one-on-one time with them. As soon as people join and purchase the kit, they get their own virtual back office which they can log into for training and placing orders.

They have three months of free access to their own shopping cart and website, and newsletters that go out to their customers. Some of our top consultants are teachers, grandparents, people who have worked in the retail industry. There is no real barrier. Just a couple of years after closing the deal, Steeped Tea entered the U.

For us, the sales force is the business. Our consultants really are the company, and Tonia puts them ahead of everything else. Because of this awesome growth rate, the company has been profitable, but all profits go right back into the company. Through their consultants, the innovative company has created an active community of tea lovers.

Tonia Jahshan conducts tea tours across Canada and the U. The company is planning to celebrate their tenth anniversary in Hawaii. The show aired the day after we closed the deal.

Phones rang off the hook, our website crashed and it did very well for us. To add to all that, we have their credibility. They did their due diligence, they signed up as investors and they are part-owners of the company.

In the next five years, Steeped Tea will continue growth, with a focus on expansion in the U. The company is also looking into opening a distribution facility better equipped to help them meet demand.

Moreover, Steeped Tea may even quadrouple their consultant size. Anything that we sell will always go through a consultant.“No-one in their right mind would think that business was worth £1m” – was the comment made by Paphitis following Trunki’s exit from the Den in ; an appearance which had seen founder Rob Law fail to win investment from the Dragons.

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