In an episode of the acclaimed British business programme, Dragons’ Den, entrepreneur and investor Peter Jones, renowned for his notable height, tested a novel product specifically designed to enhance the slumber experience of tall individuals.
This intriguing product, termed the Pillar Shelf, and devised by Bed Stretch Limited, boasts a unique bed extending feature, and was brought before the discerning eyes of the Dragons in hope of securing a substantial investment to accelerate the company’s growth.
Despite the product’s innovative approach to address a specific market need and its initial success, including a lucrative deal with a hotel chain and consistent annual sales, the inventors grappled with several obstacles.
This discussion will dissect the product’s presentation, consumer responses, marketing and sales tactics, and the ultimate decisions of the Dragons, offering a comprehensive examination of Bed Stretch Limited’s entrepreneurial journey within the exacting confines of Dragons’ Den.
Key Takeaways
- Peter Jones is a highly successful investor and a popular figure on Dragons’ Den.
- Chris and Martin have developed a bed extender called the Pillar Shelf to cater to the needs of tall people.
- Peter Jones personally tested the bed extender and found it to be almost perfect, highlighting its potential effectiveness.
- Chris and Martin have faced marketing and sales challenges, including targeting the hotel market and struggling to get big orders, but they remain hopeful for a deal.
Peter Jones: The Tallest Dragon
Standing at an impressive 6’7″, Peter Jones is not just renowned for his extensive list of investment deals, but also holds the distinction of being the tallest Dragon in the Den.
His towering stature and commanding presence are as significant as the wealth of business acumen he brings to the show. Jones’s height, coupled with his business prowess, is a unique combination that positions him as a formidable investor.
His propensity for strategic investments has seen him back numerous successful ventures, further elevating his status in the entrepreneurial world. This unique blend of characteristics makes him an investor of choice for many entrepreneurs.
Despite his height posing occasional challenges, such as the need for a longer bed, Jones continues to stand tall in the business world.
Introducing the Pillar Shelf, a stylish and functional addition to any home
Whilst Peter Jones’s height may present some challenges, entrepreneurs Chris and Martin of Bed Stretch Limited have designed an innovative solution, the Pillar Shelf, a bed extender specifically tailored for taller individuals.
This ingenious device sits at the head end of a Divan bed, creating additional length to accommodate people over six feet tall. Its design is intuitively simple, yet practically effective, providing an extended, comfortable sleeping space.
The Pillar Shelf has already seen some success, with around 120 units being sold per year, and even finding a place in a hotel. Despite facing some marketing and sales challenges, the duo remains optimistic about the potential of their product in enhancing the quality of sleep for taller individuals like Peter Jones.
Product Demonstration and Feedback
In an attempt to demonstrate the effectiveness of the Pillar Shelf, Peter Jones, with his impressive height of 6’7″, personally tried the bed extender and found it to be nearly perfect. The product demonstration showed a significant improvement in comfort for individuals of his stature, with Jones’ feet no longer hanging off the bed.
After the trial, Jones provided valuable feedback, praising the Pillar Shelf’s design and functionality. The product also received positive feedback from a hotel that incorporated the bed extenders into their rooms. This demonstrated the potential market for the Pillar Shelf in the hospitality industry.
Despite selling approximately 120 units per year, the entrepreneurs are optimistic about future growth, particularly with their patent pending and a planned TV advertisement.
Marketing Challenges Faced
Despite the positive feedback and potential market in the hospitality industry, Chris and Martin encountered several marketing hurdles in their endeavour to increase the reach and sales of the Pillar Shelf.
- Market Penetration: Despite targeting the hotel market, they struggled to secure large orders.
- Patent and Promotion: They were awaiting patent approval, which delayed their advertisement plans, particularly their planned TV advert.
- Brand Awareness: Their biggest challenge was spreading awareness about their product within the targeted market.
- Social Media Utilisation: Unlike many businesses, they found social media wasn’t a beneficial tool in their marketing strategy.
These challenges highlight the complexities of marketing a niche product, even with a promising potential market.
Dragon’s Den: Decisions and Rejections
Facing the Dragons in the Den, Chris and Martin experienced a mixture of feedback and decisions regarding their innovative product, the Pillar Shelf.
Despite a promising demonstration, the Dragons expressed concerns about the product’s market potential. Deborah Meaden rejected the offer outright, citing barriers to adoption and limited investment return.
Sara Davies was more optimistic about the product’s potential but felt it did not require her investment.
Peter Jones, despite his direct understanding of the product’s utility for tall individuals, remained undecided and did not make an offer.
The responses from the Dragons were a blow to the entrepreneurs, but they remained hopeful for a deal, demonstrating their resilience and belief in the Pillar Shelf’s potential.
