By Claire Heald BBC News Magazine Eclectic editions: London, Paris, Portsmouth...Dragons' Den is back but how good are the dragons at spotting a business opportunity? One woman whose board game idea was rubbished on the BBC Two show has just signed deals to produce games for Warner Brothers and Disney Pixar. That's quite a miss.
By Claire Heald BBC News Magazine
Eclectic editions: London, Paris, Portsmouth...Dragons' Den is back but how good are the dragons at spotting a business opportunity? One woman whose board game idea was rubbished on the BBC Two show has just signed deals to produce games for Warner Brothers and Disney Pixar. That's quite a miss.
She was told she didn't know her market, had little financial knowledge and didn't even understand the difference between gross and net profit. Basically Rachel Lowe was roasted in the Dragons' Den.
She was told she didn't know her market, had little financial knowledge and didn't even understand the difference between gross and net profit. Basically Rachel Lowe was roasted in the Dragons' Den.
But the mother of two has shown that sometimes even the most successful entrepreneurs can fail to recognise a good idea when it is right under their noses.
But the mother of two has shown that sometimes even the most successful entrepreneurs can fail to recognise a good idea when it is right under their noses.
Her board-game series now has a turnover in the millions and she has just signed two huge deals for a Harry Potter and a Disney Pixar version.
Her board-game series now has a turnover in the millions and she has just signed two huge deals for a Harry Potter and a Disney Pixar version.
Just like her game Destination, she has proved the journey might have its ups and downs, but you can still get where you want.
Just like her game Destination, she has proved the journey might have its ups and downs, but you can still get where you want.
The dragons did me a favour, without the slating, I wouldn't have got the public and trade support Rachel Lowe
The dragons did me a favour, without the slating, I wouldn't have got the public and trade support Rachel Lowe
The 29-year-old was driving her taxi through the streets of a rather unglamorous Portsmouth when her brainwave struck.
The 29-year-old was driving her taxi through the streets of a rather unglamorous Portsmouth when her brainwave struck.
As she tried to survive the shift, take fares, obey the rules of the road and return to the rank before fuel ran out, she came up with the idea for her board-game series.
As she tried to survive the shift, take fares, obey the rules of the road and return to the rank before fuel ran out, she came up with the idea for her board-game series.
Packaged in its primary-coloured box, with two taxis on the front, the game has 15 different editions and now deals with Warner Brothers and Disney Pixar mean many more are in the pipeline.
Packaged in its primary-coloured box, with two taxis on the front, the game has 15 different editions and now deals with Warner Brothers and Disney Pixar mean many more are in the pipeline.
But it was a struggle to make it a success and involved a savaging on the BBC Two programme Dragons' Den, where people pitch their business ideas to a panel of successful entrepreneurs hoping they will invest.
But it was a struggle to make it a success and involved a savaging on the BBC Two programme Dragons' Den, where people pitch their business ideas to a panel of successful entrepreneurs hoping they will invest.
In 2002, Ms Lowe was driving taxis to support her two young daughters when a university lecturer "fare" persuaded her to return to college. She enrolled to do law with business.
In 2002, Ms Lowe was driving taxis to support her two young daughters when a university lecturer "fare" persuaded her to return to college. She enrolled to do law with business.
Intimidating
Intimidating
Her small business idea for the game won a grant in a 2003 competition at the University of Portsmouth and she used the cash prize to make a prototype of Destination.
Her small business idea for the game won a grant in a 2003 competition at the University of Portsmouth and she used the cash prize to make a prototype of Destination.
She got local sponsorship and a business loan to produce it herself and by late 2004 she felt ready to face the cameras and the TV investment panel.
She got local sponsorship and a business loan to produce it herself and by late 2004 she felt ready to face the cameras and the TV investment panel.
Her appearance was a disaster, but it did help to boost business.
Her appearance was a disaster, but it did help to boost business.
"I went in to the first series not knowing what I was getting into," she says. "I went up these steep intimidating steps, into the den. You can't take in your business plan, you didn't know who they were going to be - it was an alien environment.
"I went in to the first series not knowing what I was getting into," she says. "I went up these steep intimidating steps, into the den. You can't take in your business plan, you didn't know who they were going to be - it was an alien environment.
HOW TO PLAY Playing piece is a London taxiCollect fares to famous placesSurvive the shiftKeep your licence, avoid traffic light and speeding finesNot run out of fuel, make the most moneyReturn to the rank
HOW TO PLAY Playing piece is a London taxiCollect fares to famous placesSurvive the shiftKeep your licence, avoid traffic light and speeding finesNot run out of fuel, make the most moneyReturn to the rank
"I did a three minute pitch and, at the end, I stood there all chuffed and smiling. Then one started laying into me about my forecasts, and I'm really rubbish at numbers. I'm not good at geography either. One didn't think I knew my market. They all said I didn't know the difference between gross and net profit."
"I did a three-minute pitch and, at the end, I stood there all chuffed and smiling. Then one started laying into me about my forecasts, and I'm really rubbish at numbers. I'm not good at geography either. One didn't think I knew my market. They all said I didn't know the difference between gross and net profit."
Despite the mauling, Hamleys launched the game for Christmas 2004 and sold 2,500 copies, making it their best-selling product that year.
Despite the mauling, Hamleys launched the game for Christmas 2004 and sold 2,500 copies, making it their best-selling product that year.
When the episode screened in early 2005, Rachel was at a toy trade fair.
When the episode screened in early 2005, Rachel was at a toy trade fair.
"Everyone kept coming by the stand, customers were saying, 'you proved them wrong, you go girl'. The dragons did me a favour, without the slating I wouldn't have got the public and trade support."
"Everyone kept coming by the stand, customers were saying, 'you proved them wrong, you go girl'. The dragons did me a favour, without the slating I wouldn't have got the public and trade support."
She admits some of the barbs were fair comments and they sharpened up her act.
She admits some of the barbs were fair comments and they sharpened up her act.
Precious
Precious
Two years on, Destination has an unusually eclectic list of versions - London, Paris, New York, Portsmouth. Nine new products are also due for launch this year.
Two years on, Destination has an unusually eclectic list of versions - London, Paris, New York, Portsmouth. Nine new products are also due for launch this year.
The biggest deal comes in a tie-up with distributors Cards Inc for Destination Hogwarts, from the JK Rowling books and Warner Brothers films. Also, Destination Animation, featuring characters from Disney Pixar - behind films Finding Nemo, The Incredibles and Monsters Inc.
The biggest deal comes in a tie-up with distributors Cards Inc for Destination Hogwarts, from the JK Rowling books and Warner Brothers films. Also, Destination Animation, featuring characters from Disney Pixar - behind films Finding Nemo, The Incredibles and Monsters Inc.
In 2007 she hopes to shift 500,000 copies of the Harry Potter game, which retail at £19.99, 10 times the 50,000 copies sold across all versions last year.Far from the dragon's rubbishing, she hopes to make a £2m profit, achieve a stable footing for 2008 and pay off refinancing. But it has been a struggle.
In 2007 she hopes to shift 500,000 copies of the Harry Potter game, which retail at £19.99, 10 times the 50,000 copies sold across all versions last year.Far from the dragon's rubbishing, she hopes to make a £2m profit, achieve a stable footing for 2008 and pay off refinancing. But it has been a struggle.
The Dragons spat out Rachel's business plans
The Dragons spat out Rachel's business plans"I didn't want to sell shares in the business," she says. "I was borrowing from friends and family (£115,000 of her £180,000 debt was from them) and ended up in a right pickle because of the cash flow being seasonal.
"I didn't want to sell shares in the business," she says. "I was borrowing from friends and family (£115,000 of her £180,000 debt was from them) and ended up in a right pickle because of the cash flow being seasonal.
"I'd listened to business advisers who said borrow from friend's and family. Don't, because £25,000 in business is nothing but if it's your life savings, its your life savings. The thought of not being able to pay these people back, you can understand why people top themselves."
"I'd listened to business advisers who said borrow from friend's and family. Don't, because £25,000 in business is nothing but if it's your life savings, its your life savings. The thought of not being able to pay these people back, you can understand why people top themselves."
At a 2005 toy fair she struck a deal with Debenhams to stock Birmingham and Cardiff editions, took other orders and refinanced to avoid financial collapse.
At a 2005 toy fair she struck a deal with Debenhams to stock Birmingham and Cardiff editions, took other orders and refinanced to avoid financial collapse.
The secret to making it, she says, was to separate herself from the business. Before the deal her house was on the market, the debt to family weighed heavy and she feared investors' influence.
The secret to making it, she says, was to separate herself from the business. Before the deal her house was on the market, the debt to family weighed heavy and she feared investors' influence.
"Now, I'm not as precious about it," she says. "I've learned to separate RTL games from Rachel Lowe and the investors have a say, but do not have control over me as a person."
"Now, I'm not as precious about it," she says. "I've learned to separate RTL Games from Rachel Lowe and the investors have a say, but do not have control over me as a person."
And just as everyone believes they have a novel in them, or an entrepreneurial business idea, she has words of experience for board game creators.
And just as everyone believes they have a novel in them, or an entrepreneurial business idea, she has words of experience for board game creators.
A game needs a clear place in the market - Destination taps the souvenir and tourist niche - but also a traditional objective, start and middle.
A game needs a clear place in the market - Destination taps the souvenir and tourist niche - but also a traditional objective, start and middle.
"My game involves a little bit of strategy, luck with the dice and it's informative because it teaches you about destinations. And it must have a proper finish - when all the cards are gone from the pack and you get back to the rank."
"My game involves a little bit of strategy, luck with the dice and it's informative because it teaches you about destinations. And it must have a proper finish - when all the cards are gone from the pack and you get back to the rank."
Dragons, Den returns to BBC Two on Wednesday, 7 February at 8pm.
Dragons, Den returns to BBC Two on Wednesday, 7 February at 8pm.
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