All 4 Paws Pet Services

Kelsey & Dustin Johnston
Halifax, NS

The pitch

Kelsey & Dustin Johnston from Halifax, NS, pitched All 4 Paws Pet Services in Season 11, Episode 15, asking the Dragons for $150K for 25% of the company.

Asked for$150K for 25%
Valuation$600Kimplied by the ask
OutcomeDealwith Michael Wekerle and Joe Mimran
Final deal$150K for 50%valued at $300K

Offers in the Den

Dragon	Offer	Result
Joe Mimran	Not enough proof the business model works to justify investing	Out
Manjit Minhas	Numbers were best-case scenarios, not conservative	Out
Jim Treliving	Not going to get his investment out at current pace	Out
Michele Romanow	$150,000 for 50% equity with an equal seat at the table	Withdrawn
Michael Wekerle and Joe Mimran	$150,000 for 50% equity, jointly	Accepted

Kelsey Johnston and Justin Johnston of Halifax, NS asked for $150,000 for 25% of All 4 Paws Pet Services, a mobile dog grooming company that brings a fully equipped, self-powered truck to clients' homes, with prices starting at $50 an hour. The business had $22,000 in sales as of a week before filming, averaging $6,000 per month while running at about 40% capacity as a one-person operation, with a projected $175,000 in annual revenue at full capacity and about 20% EBITDA margins. The founders wanted the investment to fund a franchise set-up, with plans to add two franchisees in year one, six in year two, and ten in year three, reaching an $800,000 valuation projection.

Joe Mimran, Manjit Minhas, and Jim Treliving all went out, citing concerns that the numbers were too speculative and the business was not yet proven enough to support a franchise model. Michele Romanow offered $150,000 for 50% equity with an equal seat at the table, but Michael Wekerle then joined with Joe Mimran to make a joint offer of $150,000 for 50%, which the founders accepted.

Pitch details from CBC’s Dragons’ Den pitch page.