Glass House Goods

Ricki Barrett
Napanee, ON

The pitch

Ricki Barrett from Napanee, ON, pitched Glass House Goods in Season 19, Episode 1, 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
Wes Hall	No offer, felt there was no moat and founder not committed full-time	Out
Arlene Dickinson	No offer, considered it a lifestyle business rather than a scalable investment	Out
Michele Romanow	No offer, wanted founder to go all-in on the business first	Out
Brian Scudamore	No offer, no room to grow as an investment while founder keeps other jobs	Out
Manjit Minhas	No offer, business too small and founder unwilling to take the risk	Out

Ricki Barrett, founder from Nappanee, Ontario, pitched Glass House Goods, a motivational jewelry brand, seeking $50,000 for 10% equity. The jewelry, including bangles, rings and necklaces with hidden inspirational and irreverent messages on the inside, is manufactured overseas in China for about $5 per piece landed and sold online at $24 retail, with 39 phrases of bangles offered. Sales were $277,000 two years prior, dipped to just under $200,000 last year, and are projected to be around $300,000 this year; the founder still works full-time as a high school counselor and has not taken a salary from the business.

All five Dragons declined to invest. Wes Hall said there was no defensible moat and the founder had not shown she was ready to go all-in. Arlene Dickinson and others characterized it as a lifestyle business rather than a scalable, investable one, given the founder's unwillingness to leave her job. No deal was made.

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