$1Mfor 10%
Protein Candy
Valued at $10M
The pitch
Miki Farrel, Khalil Khamis, and Jared Farrel from Guelph, ON, pitched Crafty Ramen in Season 17, Episode 7, asking the Dragons for $600K for 6.5% of the company.
- Asked for$600K for 6.5%
- Valuation$9.23Mimplied by the ask
- OutcomeDealwith Vincenzo Guzzo, Michele Romanow and Arlene Dickinson
- Final deal$600K for 18.9%valued at $3.18M
Offers in the Den
| Dragon | Offer | Result |
|---|---|---|
| Arlene Dickinson | Business will need significant capital to scale; went out but later joined Vincenzo and Michele's combined offer | Accepted |
| Wes Hall | Restaurant background conflict; went out | Out |
| Robert Herjavec | $600,000 loan at 12% interest, convertible at a 20% discount to current valuation for about 12% equity | Declined |
| Vincenzo Guzzo | $600,000 for 18.88%, joined by Michele Romanow and later Arlene Dickinson | Accepted |
| Michele Romanow | Joined Vincenzo Guzzo's offer, taking on e-commerce | Accepted |
Khalil, Miki, and Jared Ferrall, restaurant owners from Guelph, Ontario, sought $600,000 for 6.5% of Crafty Ramen, a Japanese-inspired ramen business with two restaurants, an e-commerce meal-kit subscription launched during the pandemic, and wholesale distribution to about 100 grocery stores in Ontario. Over the past 12 months the company generated $3.7 million in revenue, split between $2.3 million from restaurants, $1.2 million from e-commerce, and $200,000 from grocery, with a 65% gross margin on restaurant sales but an overall monthly loss of $75,000. The founders have invested $900,000 combined and the company carries $1.2 million in debt; the meal-kit subscription has 1,500 subscribers with an average lifetime customer value of $340.
Robert Herjavec offered a $600,000 loan at 12% interest, convertible at a 20% discount to the current valuation for about 12% equity, which was declined. Wes Hall went out due to his own restaurant industry conflict, and Arlene Dickinson initially went out citing the capital intensity of scaling the business. Vincenzo Guzzo offered $600,000 for 18.88%, Michele Romanow joined to help with e-commerce, and the founders then asked Arlene Dickinson to join as well for her expertise; the three-Dragon combined deal was accepted.
Pitch details from CBC’s Dragons’ Den pitch page.
Crafty Ramen today
- StatusIn businessLast checked September 2026
Crafty Ramen is still operating and sells through its website.