Businessman puts up 4% share for £250,000
HUDDERSFIELD businessman Gavin Wheeldon ventures into television's Dragon's Den tonight.
And the chief executive of translation services firm Applied Language Solutions has a cheeky offer for the Dragons - the show's panel of hard-headed business people.
Gavin is shown asking the Dragons to invest a massive £250,000 in return for just a 4% share of his business.
The BBC2 show sees entrepreneurs pitching their ideas with the aim of securing investment from the five expert business people.
The panel members don't hold back when it comes to criticism - and Gavin got a real grilling.
He said: "Believe me, nothing can prepare you for the walk up those stairs into the Dragon's Den. It was nerve-racking.
"They questioned every aspect of the business and my plans for expansion with the use of their investment - especially as I was only offering 4% of the company."
Gavin said: "I decided this was a fair amount to offer as the meteoric growth rate of the company has enjoyed since 2003 would see the Dragons receive a huge return on investment.
"However, they had never come across such a low offer - and obviously ripped apart the valuation I had given the company.
"I did try to give as good as I got and justify my request. I managed to negotiate with them for about 90 minutes. My mouth felt like the Sahara Desert by the time we had finished!"
Gavin has been sworn to secrecy about the outcome of his ordeal in the Dragon's Den. Viewers will see how he fared when the programme is screened at 8pm on BBC2.
Gavin founded Applied Language Solutions in 2003 from his back bedroom. Now it has estimated sales of £3.7m for 2007.
The company, based in Armitage Bridge, provides professional translation and interpretation services in more than 150 languages for clients including Nike, the United Nations and Robbie Williams.
It has six offices across the world and 60 employees at its Armitage Bridge headquarters.
