Droplet

Pascal, of Vancouver, BC, sought $300,000 for 20% of Droplet, a company making lightweight teardrop camping trailers with an insulated shell, queen-size bed, outdoor kitchen, and solar panels, designed to be towed by small vehicles and require no setup time. The trailers start at $20,000, weigh 950 pounds, and are manufactured at the company's own factory in Burnaby, which can produce four units per month and cost $50,000 to build; Pascal says the factory could be expanded easily. Over eight years the company has done $4.2 million in lifetime sales, with $1 million in sales two years ago, $850,000 last year, a decline attributed to a downturn in the outdoor industry, only five orders in its current backlog, and a fleet of four rental units in Vancouver; the founder valued the company at $1.5 million, about two times revenue.

Wes Hall went out, viewing it as a good lifestyle business but not an investment opportunity. Manjit Minhas went out, unconvinced of the product's differentiation or market size. Brian Scudamore went out, saying he did not hear a compelling or innovative differentiator. Michele Romanow went out, saying the product was not unique enough compared to competitors with larger wait lists. Arlene Dickinson went out, saying she could not add value to the business despite admiring its capital efficiency. No deal was made.

Droplet is still operating and sells through its website.