Except they aren't, and weren't. If you truly believe this is the case, then why are you just now hearing about this the video might be new, but this episode is old. Plus if you two knew anything about design, you'd realize how useless these products are. Modularity is a double edged sword sometimes, if I actually attempted to use those on projects the plastic rails on that hold them together be destroyed. After just a few uses, the tools would probably wobble around at those points, if they were even able to hold.
The table saw idea sounds really handy… but table saws are one of the most dangerous tools, even full sized solid tables with safety cut off systems… I can imagine this being very unsteady, tipping over, kicking back, launching boards across the room… ⚙️😬
This is bloody genius The problem with it is its not made well. There are too many tolerance issues I also think it could have been expanded into a table instead of a small box, meaning you could have had a fold out table that could be used with a router, table saw, mitre saw, then have it powered by a larger battery in the table, along with a band saw addition So much potential here
My thoughts exactly. The entire point of these fixed in place tools, a drill press, a table saw, is that they'll cut at 90 degrees and you can trust that it's 90 degrees. Made of plastic like this, you don't have that trust. Possibly an upgrade for a hobbyist, but with a little bit of doing, I think you'd be able to achieve the kind of precision these boxes give with just your hands and inexpensive guide pieces.
I saw this many years ago under two different brand names. I followed it and had real interest. It ended up being garbage electronics/motors. It was barely capable of working balsa for a home craftsman. They should’ve made it much heavier.
More utter rubbish from the master himself!! The first tool, a multi tool, no trades man owned 1 10 years ago. I’m a tradesman and every single tradesmen I know now own 1, they have sold their millions.
To date, I've refused to buy one simply because I like using single use tools (one tool for each requirement). However, I see more n more people using them and I'm more n more tempted to buy one. Their certainly brilliant for the diy/hobby market tho!!
One minute in and I’m already imagining how terrible that would actually be. Not everything should be an all in one. You’re usually better off NOT making a one-thing-does-everything tool
@@RapMusicTodaySA Because pretty much every other episode does, lol. Was just cut for time (the original ep is like an hour and IRL it's like 2), sometimes the editing gets weird and can even skip some dragons saying they're out.
Interesting that Peter is so fascinated with that battery-operated multi-tool. Clearly he doesn't realize that literally every well-known, well-established power-tool brand in the world offers one. They literally all waited around for years for the patent on the original to expire before suddenly releasing their variations onto the market. Having a patent doesn't mean your rivals can't work on reverse-engineering yours and improving it. They just can't release it to the Public until the patent expires.
12-30 years to make your profits before the patent expires can make you a very rich person. Your point has to be one of the worst reasons not to go after something I've seen on a Dragon's Den video.
@@jakecooper5855 I think a company called "Fein" had the patent on oscillating tools like that until 2008-ish... and then everyone made one (pretty much) and his oscillating tool is just one of the (now) many... maybe there's something different about his? (like the way that blades attach or something) but the basic design and functionality can't be patented
@@jakecooper5855 My point is that the patent already expired. And literally every huge competitor out there has their own version. That's an excellent reason not to invest in a small fish.
For what happened to the business after the episode, skip past the spoiler space. Elsworthy subsequently declined the deal and crowdfunded instead. The video was broadcast in 2010; the company was wound up in late 2023.
Transformers for DIY!! Unfortunately valuing your business at £3M against a turnover of £2M doesn't usually attract a dragon. The complications of the company structure makes it even worse.
Most of the best minds on the planet are neurodivergent and/or socially awkward people. Conversely, some of the best politicians and communicators on the planet, are some of the dumbest humans. I'll take the awkward, brilliant people any day of the week.
Some japan & China company copying his product. I don't know it's was relabeling the product or buy the copyrights. But if looking for that tools in with keywords "modular power tools" you can find it
not really. to a point where, take the lawn mower they came out with, within a year they removed the product from its site. the power 8, was around for a few years, but gradually it stopped appearing on its site and only had smaller parts on there.
10:35 Peter's face when he said I don't know your value 😂
Peter did well to hide his horror
Finally! A decent pitch and interesting, innovative product(s)
Yep, finally something that doesn’t have the buzz word “sustainability” in it!
Except they aren't, and weren't. If you truly believe this is the case, then why are you just now hearing about this the video might be new, but this episode is old. Plus if you two knew anything about design, you'd realize how useless these products are. Modularity is a double edged sword sometimes, if I actually attempted to use those on projects the plastic rails on that hold them together be destroyed. After just a few uses, the tools would probably wobble around at those points, if they were even able to hold.
@@slowdownex Exactly, made it no where and are useless.
KHAAAAAAAANNNNNNNN! Is my favorite. cool, calm, no BS straight to the point well mannered and super slassy
Would you want him to buy your baby off you though?
Or cause the Magnamould lady to have a nervous breakdown
My T3 all-time favourite Dragon.
sassy or classy?
@@BDogs10 😂 classy
When do you plan on marriage with him ?
The table saw idea sounds really handy… but table saws are one of the most dangerous tools, even full sized solid tables with safety cut off systems… I can imagine this being very unsteady, tipping over, kicking back, launching boards across the room… ⚙️😬
Its 18v they have no torq. That solves the throwing boards around issue but the rest are issues yet
never used it but you imagine it’s unsafe 👍
This is bloody genius
The problem with it is its not made well. There are too many tolerance issues
I also think it could have been expanded into a table instead of a small box, meaning you could have had a fold out table that could be used with a router, table saw, mitre saw, then have it powered by a larger battery in the table, along with a band saw addition
So much potential here
My thoughts exactly. The entire point of these fixed in place tools, a drill press, a table saw, is that they'll cut at 90 degrees and you can trust that it's 90 degrees. Made of plastic like this, you don't have that trust. Possibly an upgrade for a hobbyist, but with a little bit of doing, I think you'd be able to achieve the kind of precision these boxes give with just your hands and inexpensive guide pieces.
Why don’t you make it then? And how do you know it’s not made well?
@@vl1180 Odd you took that personally 🤣
I saw this many years ago under two different brand names. I followed it and had real interest. It ended up being garbage electronics/motors. It was barely capable of working balsa for a home craftsman. They should’ve made it much heavier.
The equity division was a mess, and they haven't even included Brian's figures! Maybe a set of flow signals could help sort this mess out?
Peter: Can you treat me like a 3 year old?
The answer should have "sorry Peter, this is for adults only. You will have to put this down."
Its looks like a bdsm room with all the weird tools in that thumbnail.
Answer: no. This was years ago and never got popular.
More utter rubbish from the master himself!! The first tool, a multi tool, no trades man owned 1 10 years ago. I’m a tradesman and every single tradesmen I know now own 1, they have sold their millions.
To date, I've refused to buy one simply because I like using single use tools (one tool for each requirement). However, I see more n more people using them and I'm more n more tempted to buy one.
Their certainly brilliant for the diy/hobby market tho!!
@@Sam-qh1shyou’re a labourer who earns £80 a day 😂😂😂
It never became an industry titan but the guy seems to have done well for himself selling these and starting up other manufacturing businesses
Should’ve put a flow signal on it; would’ve made fousands
Finally, a product EVERYONE needs! Theo praising the product was a BIG sign!
James is such a nice polite person he’s not rude or disrespectful
One minute in and I’m already imagining how terrible that would actually be. Not everything should be an all in one. You’re usually better off NOT making a one-thing-does-everything tool
Did I miss, What's it cost to make and what does it sell for?
Never mentioned and a critical part of the business plan.
They cut it out, you are the potential customer. Why would they reveal their margins.
@@RapMusicTodaySAThey reveal margins on the US shark tank every time
@@RapMusicTodaySAThey regularly reveal the costs and prices of the business' products/services on the show. They just didn't do that this time
@@RapMusicTodaySA Because pretty much every other episode does, lol. Was just cut for time (the original ep is like an hour and IRL it's like 2), sometimes the editing gets weird and can even skip some dragons saying they're out.
Damn..This is a old one
The guy's handling the tools like a soldier would field-strip and rebuild a rifle.
The Dragons' never have understoo DIY / building tools.
Claims a plenty when someone lops a finger off with that inverted saw.
This inventor got absolutely finessed by his business partners.
Interesting that Peter is so fascinated with that battery-operated multi-tool.
Clearly he doesn't realize that literally every well-known, well-established power-tool brand in the world offers one. They literally all waited around for years for the patent on the original to expire before suddenly releasing their variations onto the market. Having a patent doesn't mean your rivals can't work on reverse-engineering yours and improving it. They just can't release it to the Public until the patent expires.
12-30 years to make your profits before the patent expires can make you a very rich person. Your point has to be one of the worst reasons not to go after something I've seen on a Dragon's Den video.
@@jakecooper5855 I think a company called "Fein" had the patent on oscillating tools like that until 2008-ish... and then everyone made one (pretty much) and his oscillating tool is just one of the (now) many... maybe there's something different about his? (like the way that blades attach or something) but the basic design and functionality can't be patented
This was aired 15 years ago.
@@jakecooper5855
My point is that the patent already expired. And literally every huge competitor out there has their own version. That's an excellent reason not to invest in a small fish.
@@NGMonocrom I thought everyone would know how old this clip is and that didn't need to be mentioned, but I guess it did.
For what happened to the business after the episode, skip past the spoiler space.
Elsworthy subsequently declined the deal and crowdfunded instead. The video was broadcast in 2010; the company was wound up in late 2023.
Too much competition from the big boys.
This comment should come with a spoiler alert
@@jackcameback Good point. I assumed people wouldn't read the comments until after watching the video.
Now a Director of Q5D TECHNOLOGIES LIMITED with over 900k of Shareholder funds in 2022.
13 years is good!
The name sounds weird The Pirate Workshop it's like a play set should of called it The Portable Multi Toolbox.
Unsurprising that the deal fell through considering the fact that the shareholders of the holding company wouldn't agree to that deal.
Great British know how, ( has Hong Kong partner)
Us brits are not the powerhouse we once were! Multiculturalism did that!
I mean colonialism was a big part too…
Know How was his Hong Kong partner.
Transformers for DIY!! Unfortunately valuing your business at £3M against a turnover of £2M doesn't usually attract a dragon. The complications of the company structure makes it even worse.
I assumee these products didn't take off but to me they seem absolutely genius. Brilliant idea for tradesman
This video is decades old
yeah 20 years old or something? lol
I'm not ready to give up 40% of my company.
Me: but it's not your company, somebody else owns your own inventions :(
Best Ive seen in a while. It think this multy purpose product will be a masive success
Been around ages
This was originally broadcast in September 2010.
Capital adventures.
Ryobi make these now ?
That was one of the most cringe-worthily awkward negotiations I've seen in the den.
Most of the best minds on the planet are neurodivergent and/or socially awkward people. Conversely, some of the best politicians and communicators on the planet, are some of the dumbest humans. I'll take the awkward, brilliant people any day of the week.
He now owns Festool
Were his products successful?
Some japan & China company copying his product. I don't know it's was relabeling the product or buy the copyrights. But if looking for that tools in with keywords "modular power tools" you can find it
@@SuperGigaleon Thank you
Unfortunately no. The company folded in 2023.
not really. to a point where, take the lawn mower they came out with, within a year they removed the product from its site. the power 8, was around for a few years, but gradually it stopped appearing on its site and only had smaller parts on there.
Liquidation
Nice tie Peter.
Yo this is genius
I bet they loose loads of money this way
Wow. What a mess...several companies with ownership structure problems 🫥😵💫
It probably had strategic and legal reasons, he was initially shady for offering only his business instead of the holding company.