Entrepreneurs behind 'revolutionary' shower accessory secure £100k Dragons' Den investment
The father and son behind a multi-award-winning shower organiser has secured £100k investment from three Dragons on the latest BBC Dragons’ Den series.
The episode, which aired last night (August 20), showed co-founder Sean McGarry Jr enter the Den with his product ShowerGem. He initially asked for £100k in return for 10 per cent of his and his father’s family business.
McGarry showcased his innovative product, a shower organiser that needed no suction cups or drilling to be installed, and secured a deal for the full amount from three Dragons.
Sean McGarry demonstrated knowledge of the market and his business’ financials, with Deborah stating: “It must be your Irish charm because the more you speak, the more I like you”, and that Sean is “exactly the type of entrepreneur that we love to see walking into the Den”.
The new Dragon, 35-year-old Sara Davies, vowed to turn Sean into the “next Dragon” and a “global success” if he accepted her investment.
Sean Jr received offers from Sara Davies, Touker Suleyman and Tej Lalvani, who made Sean McGarry Jr an offer of £100k for a 30 per cent stake in ShowerGem.
Despite this offer, McGarry continued to negotiate and secured £100k in return for the Dragon’s having an eight per cent stake each.
The £100k investment will be used to hire staff and increase ShowerGem’s presence in Europe and America.
ShowerGem was born from Sean’s father’s frustration at his daughter’s razors and shampoos cluttering the family bathroom.
He tried using the traditional metal caddies but the suction cups didn’t work for him and would rust quickly. Ultimately, this experience led him to create the ShowerGem.
ShowerGem Ltd. was founded in October 2015 by father and son duo, Sean McGarry Snr and Sean McGarry Jr. Once founded, there was an initial three-year period of prototype development and materials testing in order to ensure product quality before trading finally began in October 2018.
Sean McGarry Jr, co-founder of ShowerGem, added: “When I heard Tej say those seven magic words “I’m going to make you an offer”, I felt the most intense sense of relief.
“You know then that you are doing something right and that the product has merit. It’s really great to get that recognition from successful business people.
“Then when Sara and Touker also made follow up offers, it was just incredible! I couldn’t have wished for it to have gone better.”
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