Dragon's Den - Anybody know that Solar guy?

[Dan]

Any of you lot know of that Solar guy on Dragon's den that got his investment?

He seemed to know his stuff and was in talks with the government and everything.

 

[TedM]

Chris Hopkins of Ploughcroft Group.

Seemed like he didn't really need the money, certainly not a good idea to give away a big chunk of his company and just wanted the 'free' publicity (as many appearing on Dragons Den do).

Would you want Deborah Meaden telling you how to run your company?

 

[dansk]

I don't know him, but his company is very close to me and we lose work to his company sadly. Wish the best of luck, it won't be his business if they get there hands on it.

 

[northernsun]

i know him...... I'll say no more. But i was quite angry on sunday night.

 

[Worcester]

@northernsun Why angry? What was wrong with his story?

Having been in business for 30 years, and also met some of the dragons, and knowing what they can do with their contacts and resources, having one on board can be very useful.

His business, like all, is hampered by cash flow and resources, these guys can provide both in a heartbeat.

 

[hopkins85]

I just watched it.
Looked like he was bricking it. He done well though.

Also Duncan Bannatyne is a idiot.

Sent from my HTC Desire using Tapatalk

 

[Big n Daft]

Be very interesting when the FIT goes up the swannie.

 

[northernsun]

Nowt wrong with his story Worcester. Lets just say I have some history with him and the company though.
I do have to admit he is a great business man and I was rather confused as to why he was actually on in the first place.
I dont buy the need for cash and I also would'nt have thought he needed that much help in marketing etc..
Still, not a bad advert for the industry despite my personal feelings.

 

[Worcester]

Duncan Bannatyne maybe used it as a way to get out (perhaps he had 2nd thoughts on his joint offer).

Every business at all levels needs some form of external advice / help guidance. - Just look at the number of posts and discussions on this forum.

The bigger the company you run the lonelier it is / the more difficult it is to find peers to talk to and discuss your business issues. Would it be worth you giving up 25% to have a business 10 x bigger? (Some may say no because they love the work! )We all know that this opportunity will consolidate after the FiTs runs out, so the question is how do you make the most of the opportunity? With the marketing and management experience that the Dragons can give him he got a good deal - it's not about the money it's about having 2 Dragons on your board.

 

[SolarCity]

I have nothing really to add to the discussion apart from sharing my observation that it is truly bizarre to hear someone refer to another human being as a 'Dragon'. I've watched every series now and I still can't get used to it. Besides, I'd have thought "B**tards" would be a more accurate description considering their patronising, aggressive and smug attitude. I'd never get tired of punching them.

 

[confounded]

Nowt wrong with his story Worcester. Lets just say I have some history with him and the company though.

5000 installs (if I caught it right on the intro) and he was on Dragons Den to borrow petty cash relative to what he should have in the bank in exchange for 25% of his business.....

 

[flamefix]

5000 installs (if I caught it right on the intro) ... borrow petty cash relative to what he should have in the bank in exchange for 25% of his business.....

My thoughts exactly, his average cost of install is 14-16k he said as well if memory serves... but even at 10k its £50,000,000 less costs he's turned over. I'd be of the opinion 25% for £120k is madness and perhaps the deal will fall through and it will be for publicity which if it is, is a sorry publicity stunt at the expense of genuine investment opportunities of those that need the money.

 

[TedM]

Dragon Peter Jones criticised for solar slating

 

[SRE]

I thought Duncan Bannantyne was right, the guy from Ploughcroft looked really out of his depth and ended up being a tad rude in oviously trying to exclude Duncan Bannantyne and while I agree that having the dragons on board has great potential I doubt if it will go ahead. I couldn't get my head round 5,000 installs - the rent a roof companies aren't getting that many are they??? Assuming that this was filmed earlier in the year then potentially they have installed over 20% of installations in the country - surely not ... If they are getting that number over 12 - 18 months since Fit was introduced then how can the company only be worth 480k - have I got the maths wrong?

I was recently at a leadership event that Duncan Bannantyne was speaking about, nice guy, true entrepreneur - but not very bright .. which both surprised me and inspired me in a funny sort of way. If he can make zillions then there isn't any reason why anyone else with a bit of flair and a lot of nerve can do the same.

 

[Adam W]

I've heard of Ploughcroft before, I suspect from this forum.
Does anyone remember Sharon Wright, who won an investment for her fancy cable rods? She thought she was getting an £80k investment from ex-dragon James Caan but ended up just getting a loan and effectively selling a quarter of her business for just £29. Rather than offering advice tailored to her business Caan used the situation to sell Sharon Wright his own services.

I'm not sure if I'd trust any of the dragons, but the programme is a good way to get free advertising on the telly.

 

[papa-golf]

Hi,

I saw the program on rewind.
I would have given him the full amount £120k for a 22% stake in his business, I know the numbers involved in solar/fit tariff and it would be a very worthwhile investment.
We are a very well established energy company based in the North East, Cumbria and Lancs' and are looking for a partner company that has already gone through the MCS approval process?

So if, anyone, or any MSC registered companies are out there and are looking to become part of a 'Newco' then please contact me?

Regards

Papa-Golf

 

[SRE]

I'd be a bit concerned about going in to business with you if you didn't understand how far out his figures were. How can you possibly value a business at 10% of it's turnover???

 

[papa-golf]

Hello CRE,

I am well 'versed' on the valuation of the company and Companies and I also fully understand how the 'FIT' tariff works and the potential of this market sector.
The guy on 'DD' was desperate for marketing help and did not know how to 'scale up' his business up.
His projected £9M turnover (900 PV systems) at around a 20% net profitability seems a good investment deal to me for a £120k.(22%) (ROI £396k within 1 year) If he's watching I'm interested!

We will achieve similar numbers very quickly.

Regards


Papa-Golf

 

[SRE]

:lol: Glad you understand the FiT.

I think you'll find that he understood marketing very well - that's why he was on Dragon's Den and your failure to grasp the basics of the financial side of solar pv are, to be kind, a little naive. No wonder you're looking for someone who has already done the blood sweat and tears of MCS certification.

Let me guess, you sell double glazing or cavity and loft insulation. I had someone similar offering to sell me leads for £150 about a month ago - he had a similar grasp of the pv market as you appear to have.

Why not learn the process yourself instead of riding on the back of everyone else's hard work.

 

[whlphil]

Seems youve all missed the reason Chris was on there - FREE SOLAR!

The best way to make a lot of money in solar is to provide free solar, only thing is you need A LOT OF MONEY and thats difficult to get. Respect to Chris but he is not going to walk into a private equity bank and get £30m to provide a free scheme. Youve got to be a money man or know the right people, Ive been at the raising money thing for 12 months and whilst im close ive been stuck at this point for 6 months its bloody hard work.

The only thing he was after was the Dragons backing to get through the right doors and have the credibility behind him. I think it wasnt a bad move offering what he did as retaining 75% of £20m T/O business is better than 100% of a £2m company.

I'm surprised non of the Dragons or any of you lot picked up on the glaring stretching of the truth.. flamefix and SRE nearly got it! 5,000 installs at £10k is £50m but his T/O was only I think £1.8m - £2.5m then £5m and I know the large chunk of the £1.8m was when he ran the company as a tiling company. It doesnt add up! cant believe the Dragons missed that..

Only way he has done 5,000 is if hes been installing only on a material provided basis in which he will have been looking at all those installs thinking I should be doing this myself.. why arent I doing this myself... I'm going to do this myself. Hence the desire to get someone who can help. Good luck to him hope he can pull it off before the FiT comes crashing down in April!!