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Dragons wouldn’t like pigs

Nick admits pitching Moonpig on TV show would have been difficult

MOONPIG founder and newest Dragon’s Den recruit Nick Jenkins has admitted his own company could have struggled if he’d pitched on the hit BBC show – but it was TV that saved him.

The Salisbury Journal reported that Nick told a group of local business men and women: “When you go to investors for the fourth time saying 'I know the previous three plans were rubbish but this really is the one' it takes some convincing.
“If I had stood in front of the Dragons at that point I doubt I would have got investment."
As guest speaker at the Salisbury Business Club, Nick told the audience that he built his own investment pot dealing in sugar in Russian, then returned to Britain for a new business venture with the idea of using the internet to sell online, which was then in its infancy.
The newspaper reported he said: “I had the habit already of sending cards where I’d cross out the printed caption and insert my own, which was always funnier and, after some thought, I came up with the greetings card idea.
"This was something that people could design on their own computers at home but then when they sent their design to us we would add it to card, which was essentially the same product."
But while the cards proved popular the business was still eating up cash at a rate that he was finding hard to sustain, but he had the support of an American investor.
Nick added he had competitors so kept track of their progress by buying a card every month to note the serial number on the back, which gave them a rough idea on sales when they compared one number with another.
Although his strongest rivals went bust, he noticed their use of TV advertising produced significant increases in sales.
He added: "I looked at the numbers and could see that it would work for us. It was TV that made the difference. We went from a £3million turnover to a £45m turnover in a very short time."

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