Travel Website For Dogs? | Dragons' Den

Summary

Nadia Legwell, a former Open Table sales director, pitches Wag It, the UK's first dog-friendly online booking platform, on a business show. Seeking £50,000 for 5.5% equity, she aims to solve the problem of limited options for dog owners to dine out with their pets. Despite her impressive background and market need, the dragons express concerns about the business model, technical expertise within the team, and the competitive landscape, ultimately deciding not to invest.

Takeaways

• 🐾 Nadia Legwell, the entrepreneur, seeks £50,000 for her business Wag It in exchange for 5.5% equity.
• 🔍 Wag It is designed as the first dog-friendly online booking platform in the UK, aiming to simplify finding pet-friendly establishments.
• 📈 Nadia's background includes significant experience in online reservations, with prior roles at Open Table and TripAdvisor.
• 🏠 The platform addresses a gap in the market, as Nadia found it difficult to find suitable places to take her dog, Lola, and groomers with online booking options.
• 📊 Over 12 million dog owners in the UK and 98% of dog-friendly pub owners believe that customers with dogs improve business.
• 📱 The Wag It website allows users to search for groomers, pubs, bars, restaurants, or taxis that are dog-friendly and make bookings.
• 💼 The business model involves charging a monthly subscription fee to operators, with tiers based on marketing needs.
• 📈 Nadia has already secured 39 restaurants, but the Dragons express concern about the slow pace of scaling.
• 🚫 The Dragons are skeptical about the subscription model, suggesting a freemium model would be more effective for rapid growth.
• 💡 The lack of technical expertise within the team is highlighted as a potential risk for the business's future success.
• ❌ Despite the unique concept and market demand, Nadia leaves without a deal due to concerns over scalability and the team's expertise.

Q & A

What is the name of Nadia's startup company?

Nadia's startup company is called Wag It.

What is the primary function of Wag It?

Wag It is an online booking platform that helps dog owners discover, find, and book dog-friendly places such as groomers, pubs, bars, restaurants, and taxis.

How much investment is Nadia seeking from the dragons?

Nadia is seeking an investment of fifty thousand pounds for five and a half percent of her business.

What was Nadia's background before starting Wag It?

Nadia's background is in online reservations; she was the first salesperson in Europe for Open Table and later became the director of sales at Booker Table, which is now TripAdvisor Business.

What is the business model of Wag It?

The business model of Wag It involves charging operators, such as restaurants, groomers, and other businesses, a monthly subscription fee. The fee is tiered based on how much they want to market with Wag It.

How many dog-friendly businesses are currently signed up with Wag It?

At the time of the pitch, 39 dog-friendly businesses were signed up with Wag It.

What is the concern raised by the dragons about Wag It's business model?

The dragons expressed concern about the business model because it charges every restaurant to list on the platform, which they believe creates resistance and slows down the scaling process.

Why did some dragons decide not to invest in Wag It?

Some dragons decided not to invest due to concerns about the business model, the lack of technical expertise within the team, and the belief that the idea might be too easily replicated by larger companies, leading to competition that Wag It might not be able to handle.

What is the main challenge identified by the dragons for Wag It's success?

The main challenges identified by the dragons for Wag It's success include getting the technology right, attracting enough dog owners to use the platform, signing up enough dog-friendly businesses, and effectively marketing the platform.

What is the potential issue with Wag It's current approach according to the dragons?

The potential issue with Wag It's current approach is that by charging businesses to list, it may limit the platform's growth and make it easier for larger, more established companies to enter the market and overshadow Wag It.

What is the Kennel Club's statistic regarding dog-friendly businesses and their customers?

According to the Kennel Club, 98% of dog-friendly publicans say that customers with dogs bring them better business.