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.