Autistic Entrepreneur Turning Over £3.5M In Sales! | Dragons' Den

Summary

Ben Pearson, a young entrepreneur with autism, presents his plus-sized clothing brand, 'Big Clothing for You,' seeking £150,000 for a 10% stake. Despite overcoming significant personal challenges, including homelessness and mental health issues, Ben's business turned over £2.9 million in 2021 and is on track for £3.5 million in 2022. He aims to expand internationally but lacks the resources. After a tense pitch, he secures investment from Tyhaan Suliman, whose e-commerce expertise aligns perfectly with Ben's expansion goals.

Takeaways

• 🧵 Ben Pearson is the founder of Big Clothing For You, a plus-sized clothing brand.
• 🌟 Ben has autism and has faced significant life challenges including homelessness and mental health issues.
• 💼 In 2021, Big Clothing For You turned over £2.9 million and is on track to reach £3.5 million in 2022.
• 💰 Ben is seeking £150,000 for a 10% stake in his business to help with international expansion.
• 👕 The clothing line starts at 2XL and goes up to 8XL, offering both casual and formal wear.
• 💷 Ben's grandfather left him a substantial trust fund, which he used to start the business.
• 🔑 The gross profit in the last year was 69%, with a net profit of £200,000.
• 🌍 The business does not yet have the capability to sell overseas, which is a key area for investment.
• 📈 Ben has a director's loan account of about £1.3 million, which he has been drawing from as needed.
• 📊 The balance sheet shows a high level of stock valued at £2.3 million, which is a concern for some investors.
• 🐉 Despite initial interest, four out of five dragons declined to invest due to concerns over the balance sheet.
• 🎉 Tyhaan Suliman, an e-commerce software company owner, decided to invest £150,000 for a 35% stake, seeing potential in Ben's business model and story.

Q & A

What is Ben Pearson's business?

Ben Pearson is the owner and founder of Big Clothing for You, a plus-sized clothing company.

What challenges did Ben face in his life before starting his business?

Ben was diagnosed with autism and several other disabilities, spent time in social care, young offenders institutes, and was homeless. He also struggled with mental health issues leading to significant weight gain.

What was the turning point for Ben that led to starting his business?

Ben was unable to find clothing that fit him on the High Street, which led him to start Big Clothing for You from his bedroom in 2015.

What was the company's turnover in 2021?

Big Clothing for You turned over £2.9 million in 2021.

What was Ben's investment ask on the show?

Ben was seeking £150,000 for a 10% stake in Big Clothing for You.

What is the starting size of clothing that Big Clothing for You offers?

The clothing sizes start at 2XL and go up to 8XL.

How much was the gross profit percentage for the business in the previous year?

The gross profit was 69%.

What is the main reason Ben is seeking investment?

Ben is seeking investment to expand into international markets, as he currently lacks the resources to do so.

How did Ben fund the initial start of his business?

Ben's grandfather left him a large trust fund, which was released to him in his late teens.

What was the reaction of the Dragons to Ben's business and personal journey?

The Dragons were impressed by Ben's journey and the business's performance, but they had concerns about the balance sheet and the amount of stock relative to other financials.

Which Dragon invested in Ben's business and what was the final deal?

Tuas Suliman invested in Ben's business, offering £150,000 for a 35% stake.

What advice does Ben have for other people with autism?

Ben advises others with autism to never give up and not let anyone stand in their way.

Outlines

00:00

👕 The Journey of Ben Pearson and Big Clothing for You

Ben Pearson, the founder of Big Clothing for You, shares his inspiring story of overcoming autism and disabilities to start his business. Initially facing challenges in social care and becoming homeless, Ben used his experience of not finding suitable clothing and turned it into a business opportunity. He started the company from his bedroom, selling on eBay and Amazon, and achieved a turnover of £2.9 million in 2021, with a projected £3.5 million for 2022. Ben seeks £150,000 for a 10% stake to help expand internationally, showcasing his range and samples to potential investors.

05:01

💼 The Business Pitch and Investor Interaction

The interaction between Ben and the investors, known as 'dragons', unfolds as they discuss the business model of Big Clothing for You. Ben explains that his company starts at 2XL and goes up to 8XL, offering great value for money with a £680 shirt sold for £29.99. The dragons are impressed with the business's growth and profitability, with a 69% gross profit and a net profit of £200,000. However, concerns arise about the balance sheet, with a large director's loan and high stock valuation. Despite the impressive numbers, some dragons decide not to invest due to these financial discrepancies.

10:03

📈 Final Negotiations and The Deal

After a series of discussions and revelations about the financial health of Big Clothing for You, only one dragon, Tuas Suliman, remains interested. Despite initial concerns about the balance sheet, Tuas sees potential in Ben's determination and the business's international ambitions. He offers £150,000 for a 35% stake, which Ben gladly accepts. The deal is celebrated as a perfect fit, with Tuas's expertise in e-commerce expected to help Big Clothing for You reach global markets.

Keywords

💡Autism

Autism is a developmental disorder that affects communication, social interaction, and behavior. In the video, Ben Pearson, the founder of Big Clothing, openly shares his experience of living with autism and how it has shaped his journey. Autism is a central theme as it influences his perspective on overcoming challenges and his approach to business.

💡Big Clothing

Big Clothing is the business venture founded by Ben Pearson. It specializes in providing clothing for individuals with larger body sizes. The company is a key element in the video as it represents Ben's entrepreneurial success despite his personal struggles with autism and other disabilities.

💡Investment

Investment in the video refers to the financial backing Ben seeks from the Dragons to expand his business. It is a crucial concept as it drives the narrative of the pitch and the subsequent negotiations for a stake in Big Clothing.

💡Dragons

The term 'Dragons' refers to the panel of potential investors in the video, who are known for their business acumen and苛刻 investment decisions. They evaluate Ben's business proposition and decide whether to invest in Big Clothing.

💡Turnover

Turnover in the context of the video refers to the annual sales revenue of Big Clothing. Ben mentions the company's turnover of £2.9 million in 2021 and a projected £3.5 million for 2022, indicating the business's growth and success.

💡Profit

Profit is a financial metric that represents the earnings of a business after all expenses are deducted from its turnover. Ben discusses the gross profit of 69% and a net profit of £200,000, which are key indicators of Big Clothing's financial health.

💡International Markets

International markets refer to the global business opportunities that Ben aims to tap into by expanding Big Clothing's reach. This concept is integral to his pitch as he seeks investment to overcome the barriers to entering these markets.

💡E-commerce

E-commerce is the process of conducting business transactions electronically, especially over the internet. In the video, Peter Jones hints at a potential tie-in with his e-commerce software company, which could help Big Clothing reach global markets.

💡Balance Sheet

A balance sheet is a financial statement that presents a company's financial position by listing its assets, liabilities, and equity at a specific point in time. The Dragons scrutinize Big Clothing's balance sheet to assess the company's financial health and Ben's management of the business.

💡Director's Loan

A director's loan refers to the personal investment made by Ben into his business. The script mentions that Ben has invested £1.3 million and has been taking money out as needed, which is a point of discussion among the Dragons regarding the company's financial structure.

💡Stock

Stock in the video refers to the inventory of clothing that Big Clothing holds. Ben discloses that the company has £2.3 million worth of stock at retail value, which raises concerns among the Dragons about the company's cash flow and inventory management.

Highlights

Ben Pearson, founder of Big Clothing For You, seeks investment despite his autism and past struggles.

Ben's business turned over £2.9 million in 2021 and is on track to exceed £3.5 million in 2022.

Ben is looking for £150,000 for a 10% stake in his company to expand internationally.

Ben's clothing line starts at 2XL and goes up to 8XL, addressing a niche market.

A shirt that takes 2.5 meters of fabric is sold for £29.99, showcasing great value.

Ben's business also includes formal wear, with suits priced around £50.

Ben aims to sell overseas but lacks an international website capability.

Ben received a substantial trust fund from his grandfather, which he used to fund his business.

The business had a gross profit of 69% and a net profit of £200,000 in the previous year.

Ben plans to use the investment to hire a dedicated resource for international market expansion.

Steven Bartlet is inspired by Ben's journey from a young offenders institute to a successful entrepreneur.

Ben admits to struggling with anxiety due to his autism but has learned to control it.

Ben started his business with an initial capital of £680,000.

Ben's director's loan account is at £1.3 million, indicating a large personal investment.

Ben's stock is valued at £2.3 million retail, but the cost is only £600,000.

The balance sheet reveals that Ben's business is not as financially healthy as initially presented.

Tuas Suliman decides to invest £150,000 for a 35% stake in Big Clothing For You.

Ben's success story serves as an inspiration for others with autism to never give up.

Transcripts

[Music]

I'm really proud to be here today having

autism it takes a lot of guts to be here

but I'd like to inspire others and show

them where there is a will there is a

way and we should not be held back for

having these slightly different ways of

thinking when it comes to a choice of

business partner Ben has a particular

investor in mind looking at the history

and expertise of the Dragons I think U

would be the one but I'm not rolling

anything

[Music]

out hello dragons my name is Ben Pearson

I'm the owner and founder of big

clothing for you from a young age I was

diagnosed with autism and several other

disabilities I've spent the majority of

my life in Social care young offenders

institutes and homeless I became nearly

30 Stone from having mental health

issues but I took a lot of counseling

and overcame these barriers but there

was one thing I couldn't do and I

couldn't find clothing on the High

Street there wasn't a thing that fitted

me so in 2015 I started big clothing for

you from my bedroom sewing on eBay and

Amazon in 2021 we turned over 2.9

Million in 2022 we're on track to turn

over 3.5 million I'm here today to

picture 150,000 for 10% stake in big

clothing for you but why I might look

like I've done it but I haven't I'm

stuck and I can't expand I can't get

into the international markets and

that's what I'm looking for so please do

have a look at our range and a couple of

samples in your boxes thank

you can I have a look of course please

do Tuka a plus-sized clothing company

with plus-sized International ambition

is the proposition from entrepreneur Ben

Pearson hope you like what you see

he's seeking

£150,000 in return for a 10% share of

his business good fashion Tycoon Tas

sulliman has already got handson with

Ben's products but now he wants to get a

feel for his

business Ben Tuka hi Tuka well done ah

thank you I'm very

impressed you know the funny thing is is

that this is a market that has been

ignored so your size starts from where

so we start at 2XL and we go right up to

8 XL 8 XL yeah so that shirt that

Deborah's got probably takes about 2 and

a half m y and how much does it cost you

uh that was £680 great and we sell what

you sell it for

$29.99 wow and nicely have you looked at

them they're really so that's great

value no wonder you're cleaning up over

here on the

turnover so you don't do Formal Wear do

you yes we do we have a collection that

covers yep formal shirt suits and how

much were we selling the suits for

around

£50 W you're cheaper than my

brand look to me there's a there's a big

opening

here how have you funded the business so

far so when I was 1 years old my

grandfather left me a big trust fund and

when I was late teens uh the trustees uh

decided that that could be released to

me wow and when you say a large amount

was that substantial in the hundreds

hundreds of thousands of pounds

sure so just take me through last year

you said you turned over 2.9 Million

yeah what was your profit on that the

gross profit was

69% and the net was 200,000 and the next

year we're looking about 5 million and

how are you going to start selling

overseas do you have an international

website capability good point no we

don't so this is one of the reasons why

we need the investment we actually need

a dedicated resource to display

correctly in these countries Ben this

could be quite interesting CU I happen

to own one of the world's leading

e-commerce software companies that takes

Brands to Global markets could be

interesting Peter Jones hints at a

potentially lucrative tie-in that could

see Ben's garments Go Global now Steven

Bartlet is Keen to find out more about

The Man Behind The Men's

Wear I have to say I'm I'm really really

inspired by your journey specifically

because you mentioned that you were in a

young offenders Institute at some point

yeah but I wanted to get some more

detail as to how your life has has

shifted in such an inspiring way sure so

I found there was a gap in the care

system and it rendered me homeless so I

hit rock bottom and I thought I got

nothing but I got nothing to lose so

while I sat on the streets food banks I

thought yeah I can pick myself up and I

just started plowing

forward okay and is that Harvey price it

is indeed how did you get to to meet

them um he was struggling to find

clothing and 18 months of persistency

knocking on Kate's best friend's door I

got to meeting with Kate and uh we never

look back and so is is he a brand

ambassador he is okay yeah what would

you say that you I'm not good at very

good question I often ask people in

interviews this so there's many things

I'm not good at I guess controlling my

anxiety because I've got autism so um

coming here today I'm not very good at

interacting with people or I don't think

I am in my mind it takes a lot of

Courage for me to do it we've just

demonstrated how good you are at

controlling your mind for for the

benefit of

yourself which is absolutely exceptional

you're one of the best pictures I've

ever I've seen since I've been in the

den oh thank you very much

Ben's temperament and tenacity are

winning him plenty of admirers in the

den will his business's numbers make a

similarly positive

impression when you started in 2015 how

much Capital did you put in to start the

business

680,000 so is the director's Loan

account still sitting at 680 uh no the

director's Loan account is about 1 Point

three I

think so you've got personal cash

invested in this business of 1.3 million

correct when do you plan to take that

out I don't rather than drawing a salary

I've been taking some out of the

director's Loan account as and when I

need it okay so what is your stock on

hand what's your balance sheet looking

like at the moment basically a balance

sheet I think stocks about 2.3

million you've got stock of 2.3 million

given that the high proportion of your

businesses Trend you're sitting on a lot

more stock than I was

expecting I don't know in a fashion

business tole but what's a normal Well

normally your stock cover should be

about 6 700 Grand so you've got too much

stock2 Million worth of stock offsets a

large director's loan money Ben could

withdraw from the business at any time

his books appear balanced but for one of

the Dragons things simply aren't adding

up Ben just take me through so where you

are today what's what's your sort of

retained earnings in other words the

profits that you've plowed back into the

business and you've retained in the

company where would where would they sit

out today yeah I think they're just

short of 800,000 and how much cash in

the bank have you got

143,000 and creditors I think it's about

250,000 and debtors under 5,000

,000 okay and your total stock is 2.3 is

that 2.3 cost or is that retail price uh

that's H the retail valuation by deits

yeah retail not cost yes that's the

retail oh that explains what's the cost

the cost of that

stock

600 when you first come in and say you

got 2.3 million of stock you're going

wow you've got some serious cash behind

this this business but when you deduct

the reality of Life youve put such a

large amount of capital in and you're

not taking any salary at all and any

money you do take out you're taking and

reducing your director's

loan is that a perfect summary of the

business it's a a good way of looking at

it certainly

yeah I'm good with numbers you certainly

are you say you like honesty so I'm

going to be really

honest I was going to make you an offer

y but I'm sadly going to say I'm not

going to invest because of that only

reason is that the balance sheet just

demonstrates that the business isn't

quite there so I I've got to say that

I'm

[Music]

out a Peter Jones probing reveals the

Ben's balance sheet is nowhere near as

healthy as it first appeared and he's

lost his first dragon

will Sara Davies see sufficient promise

in the business to make its CEO an

[Music]

offer I love you you are the most

straight talking person I've ever met in

business and it is so refreshing but on

the flip side that 1.3 million still Ed

out to you on a business that's been

highly profitable for so many years that

is just ringing really big alarm bells

for me

so I'm going to say that I'm

out Ben you are brilliant it's a real

pleasure to talk to somebody who you ask

a question they answer it and you

believe it you know I can work with that

any day of the week but I've been

sitting here battling with the balance

sheet I'm afraid that side of me is one

so I won't be investing I'm

out Ben I've wrote a lot of things down

here and there's a couple of words that

I wrote over and over again seemingly

and that is describing you smart

inspiring Relentless dogged and

trustworthy and then I wrote I want to

love and be inspired by this industry in

business as much as I am by the

entrepreneur I'm not incredibly

passionate about this

industry both aspects are incredibly

important for me to want to make an

investment cuz I'm really really

compelled by one of those aspect aspects

but not by the other that is the reason

I'm going to say that I'm

out four dragons down and the clothing

entrepreneurs prospects of a deal now

hang by the slimmest of

threads only tuas Suliman who was

originally Ben's Most Wanted is yet to

declare his

position you know I am sitting on that

fence because when you came out with

your B sheet just

thought

deflated it's not in the same healthy

State as you you pretend it to be

unfortunately you

know silence in the

den if you don't make an offer for this

one t I don't know what you're going to

make an offer

for just got your name written all over

it

yeah

look I I'm going to make you an offer

sure all the money 150,000 but I want

35% I'd love to accept your offer great

absolutely brilliant well done fantastic

so pleased brilliant thank you brilliant

it's a perfect fit as Ben sews up

£150,000 worth of investment and the

backing of a dragon whose skill set is

ideally tailored to his company's needs

I've never been so pleased somebody else

won an investment congratulations T well

done thank you having Tuka on board is

going to be a fantastic addition to our

business just what we need if anybody

else out there has autism what I would

say especially if they're young never

give up don't let anybody stand in your

way

[Music]