Deadbolt Arrest Lock

John & Michelle Nichol
Oshawa, ON

The pitch

John & Michelle Nichol from Oshawa, ON, pitched Deadbolt Arrest Lock in Season 10, Episode 5, asking the Dragons for $40K for 20% of the company.

Asked for$40K for 20%
Valuation$200Kimplied by the ask
OutcomeNo deal

Offers in the Den

Dragon	Offer	Result
Michele Romanow	Went out, not convinced by the solution or sales	Out
Michael Wekerle	Went out, no meaningful sales	Out
Joe Mimran	Went out, not ready to invest at this stage	Out
Manjit Minhas	Went out, advised selling off inventory and moving on	Out
Jim Treliving	Went out, told them to focus on sales	Out

John and Michelle Nichol, from Oshawa, Ontario, asked for $40,000 for 20 per cent of their company, which makes the Deadbolt Arrest Lock, a nylon bar device that fits over a home's deadbolt to prevent entry even with a key. The locks cost $1.50 to manufacture and retail online for $20. The Nichols had invested almost $40,000 from savings, had 6,000 units in inventory, and had sold about 300 units plus given away 50 on a radio show; they had contacted major retailers without success.

All five Dragons went out. Michele Romanow was not convinced by the solution or the sales, Michael Wekerle said there were no meaningful sales to justify the risk, Joe Mimran was not ready to invest at this stage, Manjit Minhas suggested selling off the existing inventory and moving on, and Jim Treliving advised them to focus on making sales. No deal was made.

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