$1Mfor 10%
Protein Candy
Valued at $10M
The pitch
Trish Mills and Ray Smidstrup from Calgary, AB, pitched Backwoods Glamping in Season 16, Episode 8, asking the Dragons for $50K for 10% of the company.
- Asked for$50K for 10%
- Valuation$500Kimplied by the ask
- OutcomeNo deal
Offers in the Den
| Dragon | Offer | Result |
|---|---|---|
| Vincenzo Guzzo | Concerned about the messy equity structure with a non-investing partner | Out |
| Arlene Dickinson | Too messy an equity structure at this early stage | Out |
| Manjit Minhas | Not convinced of the uniqueness of the value proposition | Out |
| Michele Romanow | Too much dilution already given up | Out |
| Wes Hall | Cited the messy shareholder structure | Out |
Trish Mills and Ray Smidstrup, from Calgary, Alberta, asked for $50,000 for 10% equity plus a $50,000 inventory loan for Backwoods Glamping, which makes portable propane-heated hot tubs and wood stove-heated saunas for campers. The five-foot hot tub package sells for $995 and the sauna sells for $1,095; the company did $160,000 in sales last year despite running out of inventory for half the season, and projects about $500,000 in sales this year, with roughly a 10% net margin after founder salaries. The founders have invested $25,000 and hold 70% ownership, having given 30% to a business coach who did not invest cash but provided small loans at interest and now owes them $6,000 in loans plus about $20,000 in credit card debt.
The five Dragons all declined, citing the messy equity structure created by the non-investing 30% partner and, in some cases, doubts about the uniqueness of the product or excessive dilution already taken on. There was no deal.
Pitch details from CBC’s Dragons’ Den pitch page.
Backwoods Glamping today
- StatusOut of businessLast checked September 2026
Backwoods Glamping appears to have closed. Its products may no longer be available.