Travel Website For Dogs? | Dragons' Den
Summary
TLDRNadia 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.
Outlines
🐾 Wag It: A Dog-Friendly Online Booking Platform
Nadia Legwell introduces Wag It, the first dog-friendly online booking platform in the UK, aimed at making it easier for dog owners to find and book places to take their dogs. She seeks an investment of £50,000 for 5.5% of her business. Nadia's background in online reservations and her experience with Open Table and TripAdvisor Business are highlighted. Wag It addresses the difficulty dog owners face in finding and booking dog-friendly places, such as pubs, restaurants, groomers, and taxis. The platform allows users to search and book based on location, time, and preferences, with features like doggy menus. The business model involves charging operators a monthly subscription fee tiered according to their marketing needs. At the time of the pitch, 39 restaurants are signed up, and there's a focus on promoting the service through word-of-mouth and the appeal of dog-friendly establishments.
📈 Scaling Challenges and Monetization Strategies
The dragons question Nadia on her strategy for scaling Wag It and how she plans to monetize the platform. Nadia explains that the business model includes a loyalty scheme to encourage user registration and that the platform can be used as a search engine without registration. She discusses the tiered subscription model for operators and the current count of signed-up restaurants. The dragons express concerns about the barriers to scale due to the subscription fee requirement for listings, which contrasts with other platforms that offer free listings to grow their network quickly. Nadia defends her model by mentioning the promotional value for restaurants and the potential for community building among dog owners. The conversation also touches on the need for technical expertise within the team to support the platform's growth and development.
🚀 Addressing Competition and Investor Concerns
As the dragons continue their interrogation, they express concerns about the lack of technical expertise within Nadia's team and the potential for larger platforms to easily incorporate dog-friendly features, overshadowing Wag It's unique selling point. Nadia acknowledges these concerns but remains confident in her ability to grow the business. The dragons also discuss the potential market size and the number of restaurants needed to make Wag It a credible proposition. Nadia shares her current growth rate and the steps she plans to take to accelerate the business, including marketing and technical improvements. However, the dragons remain skeptical about the business's scalability and the team's ability to compete effectively in the market without significant investment and technical expertise.
🏆 Departure Without a Deal
Despite Nadia's best efforts to convince the dragons of Wag It's potential, they ultimately decide not to invest. The dragons cite concerns about the need for substantial resources, technical expertise, and the competitive landscape as reasons for their decision. Nadia leaves the den without a deal but remains optimistic about the future of Wag It. She expresses her intention to continue adding businesses to the platform and improving it, with the hope of revisiting the dragons in the future when the business is in a stronger position.
Mindmap
Keywords
💡Dog friendly
💡Online booking platform
💡Investment pitch
💡Market demand
💡Business model
💡Loyalty scheme
💡Monetization
💡Scale
💡Technical expertise
💡Market competition
Highlights
Taking pets into the den is a risky business, as they can be unpredictable.
Nadia's dog Lola has transferred her affections, showing dogs can be fickle.
Pets can sometimes be too vocal, disrupting the business environment.
Some pets are very calm, even in stressful situations.
Pets can steal the show, overshadowing their owners.
Nadia hopes for her dog Lola to behave well during the pitch.
Nadia's startup aims to connect dog owners with dog-friendly services.
Wag It is the first dog-friendly online booking platform in the UK.
Nadia seeks £50,000 for 5.5% of her business.
Nadia's background in online reservations gives her an edge.
Wag It addresses the difficulty of finding dog-friendly places to go.
The platform allows users to book dog-friendly groomers, pubs, bars, and restaurants.
Nadia's business model includes a tiered subscription fee for service providers.
Currently, 39 restaurants are signed up on Wag It.
Nadia's lack of technical expertise is a concern for the investors.
The potential for other platforms to add dog-friendly filters is seen as a risk.
Nadia's team lacks technical co-founders, which is a red flag for investors.
Investors are concerned about the scalability of Wag It's business model.
Nadia leaves the den without securing an investment deal.
Transcripts
taking something with fur or even
feathers in one case
into the den can be a risky business
[Music]
sometimes they can just get a bit too
friendly with the dragons bye-bye she's
not the most loyal dog is she she's
completely transferred her affections
[Music]
occasionally they can get a bit too
vocal oh he's giving me the financials
and sometimes they can be just a tad too
chilled I wish I was as calm she was I
can tell you
and then there are the times when they
completely steal the show
okay do you just want my money yes
please
[Music]
hoping her King Charles Spaniel Lola
will be on doggy best behavior tonight
is Italian Nadia legwell I adore dogs
and I think they're the best companion
any person can have we'll get you loads
of treats off but
growing up in Italy we always had dogs
in our family when I moved to UK I had
the first opportunity I got Lola
Nadia startup aims to Wed going walkies
with the web
as a dog owner I definitely noticed
there was something missing on the
market so I decided to build a service
that all dog parents could use
the pooch friendly proposition has
already sparked speculation in the den
run a dog to have dinner with you
dinnerdogs.com we could call it doggy
date
50 50.
I mean
the dragons appear to be in a playful
mood so can Nadia bring them to heal
come on Lola before parting them from
their cash
hello dragons this is Lola and I'm Nadia
and we're the co-founders of Wag It
waget is the first dog friendly online
booking platform in the UK we're here to
seek fifty thousand pounds for five and
a half percent of our business
my background is in online reservations
I was the first salesperson in Europe
for open table and then I was director
of sales at Booker table which is now
TripAdvisor business
when Lola came into my life I realized
how difficult it was to book places to
go with your dog when you looked online
the options were limited and even when
you found somewhere dog friendly you
turn up and you'd be sat at the back
next to the bins or ask to sit outside
even if it was raining
and when it came to groomers there was
actually no way to book online you'd
have to call and they never answered
because they were grooming
so I thought there has to be a better
way
there are now over 12 million uh dog
owners in the UK and according to the
Kennel Club 98 of dog friendly Pub
earners say that customers with dogs
bring them better business that's where
wag it comes in
our website enables people to discover
find and book places to take their dog
so let me show you how it works
you can select groomers pubs and bars
restaurants or taxis
you then put the time and area
and then you click submit
after that you get a selection of what's
available your preferences you can
select one and look at the description
if they have a doggy menu for example
and all that information you select the
time and then you put in your details if
they're not already in there
that's how simple it is
looking for a dog friendly dragon and we
know you all are
to join the waged pack
[Music]
a canine compatible online platform for
restaurant booking is the offering from
Nadia legwell
who's seeking a 50 000 pound investment
in return for a five and a half percent
share in her business
I don't think she wants to take any
questions I think we should let Lola go
if she doesn't want to be in the desk
okay
Lola's work may be done but Nadia's has
only just begun
Pizza Jones is first with the questions
and he's clearly intrigued by this
entrepreneur CV
Nadia yes your experience in the past
it's really interesting congratulations
thank you what do you believe in terms
of scale with your experience how are
you going to achieve
sort of growth for the business the
business model is interesting because
having come from Open Table the
for reservation
like that is transactional so they
charge for a cover but with us it's more
a benefit it's a marketing channel for
the restaurants to Market to dog owners
so it will be promotions and so on and
there's so much we can do to a business
you know offering offering them more um
opportunity to to Market to dogs there's
I mean there's so many events
restaurants can fill the quieter times
at lunchtime with dog owners and then
the other side to monetize is once
everyone falls in love and looks through
Agate the community side of it so the
consumers yeah I get the advertising
piece on there as you grow but so how
many people do you have to register on
this site or can I just use this as a
search engine you can just use it as
surge engine how does that help you grab
a subscriber or build your data
how do you do that you mean if you don't
register yeah if I can go on there and
use similar to a Google search the idea
is the Loyalty scheme will encourage
people to register what I'd like to do
with wag it is you can get points if you
go near a restaurant if you book your
groomer okay so you haven't got any
registered users at the moment no I have
you have about 400
Nadia's website is already gaining
traction
but the Den's newest pet owner wants to
discover exactly how she intends to
convert dog friendly days out into
Financial clout
puppies
I I've just got one I know exactly where
you're coming from okay so the business
model you've now told us that how will
you make an income out of it
we will charge operators so restaurants
groomers and so on a monthly
subscription fee it will be tiered so
tier one two two three depending on how
much they want to Market with us I'm a
restaurant sir so what will I have to
pay on your subscription to enroll so 10
pounds is the tier one subscription 10
pounds a month yeah
how many restaurants have you got signed
up at the moment
39 and the only way a restaurant can
sign up is if they pay yes so if I'm a
visitor and I want to go for a
restaurant there's only 39 options I
have in the United Kingdom at the moment
at the moment yes that's because you've
put this huge barrier in the way of you
achieving scale which is you're charging
every single restaurant to list
the reason why Open Table Yelp and all
these other websites have huge scale
from day one is there's no resistance
for a restaurant to join
you've created resistance which means
you have to now go around and knock on
every restaurant's door to sign them up
one by one but I offered anyone who
would joined three month free you must
be the only person in the industry
that's charging people to list Beyond 90
days there are a couple of other scale
and also Open Table
um was charged a monthly fee as well
that's an add-on they have a freemium
model with the the premium upside if you
want it as a restaurant which lists you
higher you get featured etc etc yeah
right if you want to get Scaled quickly
have a freemium model where every dog
friendly restaurant in the land can sign
up and then charge them for better
placement
or else you're gonna have to knock on
every restaurant's door so I think
that's an existential risk to your model
it fears that
long tree with current business model
so will Sarah Davies see greater
potential in her plans to harness the
pooch owning pound
honestly I think you've done a brilliant
job getting to this point there's
clearly demand in the market I think
you've you've come into the market at
the exact right time when you've got all
of these dog owners now flooding into
the market and things are opening up
people are desperate to get out there
and obviously you've got the The Proven
track record you've made this work for a
couple of huge companies so you know all
of that together suggests it could be a
recipe for success thank you how big
does this have to be for this to become
a credible proposition
600 700 restaurants
how many a day are you signing up at the
moment so we get about five or six a day
a week sorry five or six a week yeah but
what we want to do is really accelerate
the business now and we need marketing
to push a bit more and we need the
developers to improve a few things I
build the website really quickly and to
get it up and and see how much interest
it would get you built it well I had it
built unfortunately I don't know how to
do coding and you don't think you can
get from the place you're at at the
moment to that six seven hundred without
having investment to improve the tech
platform
I can get there but it'll take me a lot
longer
you're building a tech company here you
said that there's no one in your team
that has built a tech company before
well I I my business partner and one of
the investors is a friend of mine and
he's a product manager and helped build
Tech business and then exited so he's
the one who's helping me build the
product
I would feel from my experience building
tech companies that you'd need someone
in-house to have technical expertise and
if you're if you are going to go out to
Market and get investors the first thing
they're going to want to know is where's
your technical co-founder who's the CTO
yes and that's what I want
with a background in Hospitality this
entrepreneur knows her Gourmet Bites but
when it comes to megabytes her lack of
expertise is giving cause for concern
now the Den's most Ardent dog lover with
four canine companions of her own wants
to discover more about the businesses
competition
Nadia what was your actual role at Open
Table oh it's sales
so what does that website do to tell
consumers about dogs Open Table Open
Table Open Table doesn't even have a
tick box at the moment for for dog
friendly ones so where would I go now if
I was looking for pet friendly stuff I
mean the way I used to do it is you put
it in Google and just hope and that it's
always the same three or four that come
up in my area
but I guess I'm trying to understand
what your added value is and I have a
little bit of a worry for you I think it
is going to become a tick box
any other site that just sells
restaurants is just going to add that
symbol and have a filter that brings it
Forward whenever you put a search in
which I think is a great shame because
you know you kind of spotted it first
you know but I'm afraid I I worry about
that for you and you know going into an
investment with a worry for somebody is
not a good idea so I'm really sorry an
idea I won't be investing I'm out
thank you Deborah
disappointment for Nadia who has lost
her first dragon
will a tech savvy Peter Jones prove any
more receptive to this entrepreneur's
attempt to computerize Canine
hospitality
I like it I think it's a really good
idea
I'm slightly disappointed though with
your background that you haven't come in
with a much bigger number of customers
on there already 39
I would have expected you to have said
I've got several hundred reference
already on board and I'm predicting by
the end of this month I'll have a
thousand restaurants 1500 next month I'd
expect much more of a pipeline of where
it's going
so for that reason I'm out but good luck
thank you
no idea hi
so My worry is that you're just going to
shine such a big light on this that
these other companies are going to go ah
look what we've been missing guys
there's this huge business opportunity
over here if we just make our website a
little bit more dog friendly stick a
couple of pictures of dogs on get some
testimonials write a few blogs Bob's
your uncle Moross artist okay you're
going to raise awareness for then
someone else to eat your dinner
so as sad as I am to say it because you
seem lovely
I can't invest today and I'm out
I travel everywhere with my dog and I
felt the pain that you're trying to
resolve completely get that my issue is
about the technical expertise within the
team
and so with this type of business I
would want to have seen technical
expertise in the core team to give me
peace of mind that this team will
iterate through all of the problems that
I know they're going to encounter
and I haven't seen that today
so for that reason I'm out
more dragons have now bowed out
only fast Tycoon 2 K Suleiman remains
is he prepared to trade the world of the
catwalk for that of the dog walk
I think the idea is great
the way I see it is that you've got sort
of three big challenges
first challenge really is to get your
Tech right and have good technical
support
the Second Challenge is to get enough
dog owners to use it and the third
challenge is to get enough restaurants
there's your free challenges and on top
of that the main here is is the
marketing
because you know what this really means
if I have to be totally honest with you
this needs a million pounds thrown at it
and I I think that your 50 000 ask it's
just a drop in the ocean
so I'm gonna say to you I wish you all
the best
and I'm out
okay thank you thanks Nadia thank you
thank you thanks
Nadia leaves the den without a deal
but despite the dog devotees previous
pedigree the dragon's decision not to
invest isn't proving a bone of
contention
I just don't think it will work without
as you say huge resources money and
talent at least a lot of money Millions
you're right Millions next for Lola and
I will just continue adding
um businesses to wag it improving it and
and maybe when they will come back
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