Business branded ‘pathetic’ on Dragons’ Den makes £10million a 12 months
- Rachel Watkyn, from Uckfield, bagged £60,000 in investments in 2008
- She was recognized with most cancers thrice while constructing the Tiny Box Company
A Dragons’ Den contestant whose firm was slammed as ‘pathetic’ is now raking in £10million a 12 months.
Rachel Watkyn, from Uckfield, first set foot within the fiery board room in 2008 to pitch her sustainable packaging enterprise – The Tiny Box Company.
At the time they had been the one firm within the UK that solely dealt in recycled packaging, primarily specializing in eco-friendly present and jewelry containers.
She and her enterprise accomplice, Robin Banks, managed to bag £60,000 price of investments from Peter Jones and Theo Paphitis.
But regardless of being forward of the growth in environmentally pleasant packaging, with websites reminiscent of Etsy on the horizon, entrepreneur Duncan Bannatyne wasn’t satisfied.
He bashed the pattern product, branding it ‘ridiculous’ and one thing his eight-year-old daughter might produce.
Rachel Watkyn was instructed her enterprise – Tiny Box Company – was ‘pathetic’ when she appeared on Dragons’ Den in 2008 – however now it makes £10 million a 12 months (pictured: Rachel and her enterprise accomplice Robin Banks)
Regardless, Duncan Bannatyne bashed the product, branding the blue and burgundy striped field as ‘ridiculous’ and one thing his eight-year-old daughter might produce
‘I think it’s ridiculous that you simply’ve come together with what you name a enterprise, that you simply describe as moral and recyclable supplies.’
‘And you produce a field which my eight-year-old daughter Emily might make higher in school – the ends don’t match up, the strains aren’t straight.
Twirling the burgundy and blue striped field in his fingers, he quipped: ‘It’s pathetic, it truly is.’
However, greater than a decade later the Tiny Box Company has reached new top, broadening their horizons by creating over 1,500 packaging merchandise and equipment.
Now they provide a spread of eco-friendly and recycled packaging, from giant shifting containers to multicoloured mailing present containers, in addition to foam earring inserts and extra.
Boasting a clientele of practically 200,000, the agency now takes in £10million yearly.
Reflecting on the expertise with ITV, Rachel mentioned: ‘They had been brutal, they had been completely brutal. On the present, I didn’t have any confidence.’
But with a flurry of begin up corporations rising who wanted the packaging she produced, Rachel knew it might be successful.
At the time the Tiny Box Company was the one enterprise within the UK that dealt solely with recycled packaging, focusing primarily on present containers and jewelry packaging
Even although Rachel walked away with £60,000 price of investments from Peter Jones and Theo Paphitis – she mentioned the expertise was ‘brutal’
Since Dragons’ Den the corporate has broadened its horizons providing over 1,500 recycled packaging merchandise and equipment (proper: Tiny Box Company Earring Holder, left: Corrugated postal field)
‘Off digicam, I simply knew that Etsy was changing into increasingly more in style and Not On The High Street.’
Even although The Tiny Box Company is now raking in tens of millions a 12 months, the journey there hasn’t been the smoothest.
The rocky highway to success has been a ‘lesson in resilience’ in response to Rachel, who in the previous few years has survived most cancers 3 times.
‘It has been the toughest journey of my life. I’ve had most cancers 3 times within the final 5 years,’ she shared.
Beyond private challenges, the Tiny Box Company has had its fair proportion of unhealthy luck, with a hearth burning down their first warehouse.
The enterprise has additionally survived two extreme floods, a web site and checking account hacking.
Rachel revealed that she misplaced her job, home and ‘every part else’ within the catastrophe. However, the hurdles to success have made her a ‘resilient’ particular person.
She believes that within the face of adversity everybody has two choices. They can both again away and conceal or they’ll try to make the most effective out of their circumstances.
On a brighter be aware, the entrepreneur finds it ‘hilarious’ that some folks nonetheless do not perceive the enterprise idea.
She divulged that warehouse guests are sometimes confused about what they produce and promote.
But she would not let the confusion deter her from her sol purpose, offering extra environmentally pleasant packaging choices.
‘Everything people buy comes in a bag or a box or some kind of packaging, and if we can help business switch from plastic or less environmentally friendly solutions to more environmentally friendly, then the job’s completed,’ she mentioned.
