Toastabags company Planit Products is celebrating after securing an offer in BBC 2’s Dragons’ Den programme.
Guy Unwin, the inventor of Toastabags – which allow you to make a toasted sandwich in your toaster – and his partner Caroline Kavanagh were looking for a £200,000 investment in their kitchenware range.
While most of the entrepreneurs who enter the Den seeking backing from the millionaire Dragons are sent packing, Planit Products had two of the Dragons keen to invest. The couple decided to accept the offer of James Caan for a 40% stake in the business.
Unwin came up with the idea of Toastabags six years ago and they are now available from supermarkets as well as smaller retailers, via mail order and online at toastabags.com.
The range of products now includes non-stick Cookasheets, the new Pizzamesh and Quickachips, oven liners, Oven Shelfguard and more.
The expanding portfolio has meant a growing need for investment in marketing and stock as well as for developing overseas markets.
Unwin decided to apply to go on Dragons’ Den, and after filling in multiple forms and enduring camera tests in Manchester the couple were asked to go to Pinewood studios to be filmed.
“It was a very scary experience,” said Kavanagh, “but the kudos of having a Dragon on board as well as the publicity from appearing on the show is fantastic, let alone the chance of being able to secure a significant investment.”