Those who watched Dragon’s Den on CBC-TV Nov. 25 saw Lake Country manufacture Chase Van Buuren of Limitless Manufacturing accept a deal from two of the five Dragons.
Van Buuren appeared on the show which features entrepreneurs making pitches on products and/or companies to a panel of five ‘Dragons,’ looking for one or more to invest in the company or product.
The 29-year-old Van Buuren pitched to the Dragons a snowmobile deck that fits into the back of a person’s pickup truck and extends to a full eight-feed wide. He also introduced the company’s latest product – developed and built in the shop he owns in Lake Country – a tonneau cover that can possibly fit onto a truck bed. Van Buuren then dropped a 1,000 pound concrete block onto the cover aboard his own pickup.
Van Buuren asked the Dragons for $1 million for 15 per cent of his company. All five Dragons were impressed with the products, and with Limitless Manufacturing’s projected sales and profit margins. Two Dragons – Arlene Dickinson and Wes Hall – went together to offer Van Buuren the $1 million but only asked for 10 per cent royalties until they get three times their capital back.
Dragon Michele Romanow told Van Buuren it was the best possible deal he was going to get, and he took it.
And that’s what was seen on TV.
The taping was done in June. Since then, Van Buuren rejected the deal. And with good reason.
“About three months ago, I called the show and said the deal wasn’t going to work out,” said Van Buuren, who enjoyed two viewing parties with family and friends as the program was aired at 5 p.m. in Eastern Canada and 8 p.m. in the West last month.
“About a month after the taping, we started to get some of our biggest deals and we experienced organic growth in our company. We sold out of product so the deal was moot. We started booking in orders for 2022.”
Van Buuren said being on the show was a “great experience.”
Information on his company and products can be found at limitlessmfg.com.
READ MORE: Two Dragons make offer to Lake Country businessman
READ MORE: Lake Country business makes Dragon’s Den pitch
roger@vernonmorningstar.com
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