Coconut brand scoops £75K investment
One of the most significant skills in business is knowing how to sell yourself or your ideas effectively. Your ‘pitch’ has to be perfect and executed professionally, to ensure you have given yourself the best possible chance of succeeding in your objectives. One such entrepreneur, who knows just how to pitch an idea, is Jacob Thundil, coconut expert and Founder of organic food brand Cocofina.
Standing up and pitching in front of any potential investor is daunting, but if you find yourself facing five of the most successful, formidable and potentially intimidating business people in the country then you’ve got a tough challenge to overcome. If you are also not used to standing up in front of the TV cameras, then this can certainly throw more tension into the mix. That is just what Jacob and Operations Director Manisha Solanki encountered when filming took place of their pitch for the 14th series of BBC Two’s Dragons’ Den.
Each dragon was given a tray of small samples to taste comprised of Cocofina’s pre-workout, low-calorie snack bars, a 10ml organic, virgin, cold-pressed coconut oil sachet, coconut amino soy sauce alternative, pure coconut water and low GI coconut sugar. All five universally complimented the duo on the quality of the products with Deborah Meaden being the first to break rank with some questions. The rest followed suit with Peter Jones being the last to question the two entrepreneurs who expected to bring at least one of the dragons on board in exchange for 5% equity in the business. All five dragons were interested to invest in return for 20% equity and so this created some healthy competition amongst them. Jacob states ‘we wouldn’t have given away anything more than 10% and I was adamant about that figure not rising.’ Ultimately the duo opted to say yes to the joint offer put forward by Sarah Willingham and Nick Jenkins. In exchange for an investment of £75K, a 20% stake split down the middle was offered to the two dragons with an agreed option for Jacob to buy back 10% after 12 months.
Cocofina is a range of innovative, organic, vegan and vegetarian-friendly products that are UK Soil Association approved and available throughout the UK and in 28 countries. Sustainable production of high-quality coconut-based products is one of the brands’ core values. Cocofina products are stocked at a wide range of stores nationwide.