10 years of profits for company rejected by Dragons Den!
In 2004 Richard Hazell solved a major problem for Plumbers & Tilers. He invented (and patented) a total drilling solution for very hard stone and tiles. He then presented the product to Dragons Den with a unique promise that his drilling kit would allow any installer to easily drill through hard tiles with a guarantee that they would not damage even the most expensive ones. Leaving crestfallen with no investment and a label as, ironically, a boring product, he persevered and has just celebrated his 10th consecutive year of profits notwithstanding the deepest recession UK manufacturing has seen for decades.
Now turning over nearly a quarter of a million pounds a year, and exporting throughout the world he encourages other start up businesses not to give in when things don't always go to plan.
Founder, Richard Hazell says, 'Apart from starting up a company at the start of a recession and of course the Dragons Den disappointment, it took us a frustrating 5 years to get our patent approved, but persevering now means that we supply to major distributors both in the UK and world wide.
We seem to do well when we ask retailers this question: "Are you looking for new innovative products in your sector that can solve a problem for your customers AND generate healthy profits for your company".
I doubt if any of the Dragons can say they export diamonds to Vegas, but they had their chance!'
His top 'diamond tips' for aspiring new manufacturing businesses are:
1. Make sure your product solves a real problem.
2. Believe in your product. Exploit its uniqueness and deliver it better than your competitors.
3.Make sure everyone possible knows about it.
4. Treat every hiccup as a learning experience and be better for it.
5. See the world as your market, not just your high street.
6. Be proud to be creating jobs and being part of UK manufacturing.