Guess Where Trips

Jessica Off
London, ON

The pitch

Jessica Off from London, ON, pitched Guess Where Trips in Season 19, Episode 6, asking the Dragons for $250K for 5% of the company.

Asked for$250K for 5%
Valuation$5Mimplied by the ask
OutcomeDealwith Arlene Dickinson and Brian Scudamore
Final deal$250Kplus a royalty: 5% royalty until 3x money back, then 2% in perpetuity

Offers in the Den

Dragon	Offer	Result
Manjit Minhas	No offer, felt founder didn't need a Dragon and could grow on her own	Out
Michele Romanow	$250,000 for 10% equity plus 5% royalty until double her money back	Declined
Arlene Dickinson	$250,000 for a 10% royalty until 4x money back	Withdrawn
Brian Scudamore	Joint offer with Arlene Dickinson	Accepted
Wes Hall	$250,000 for 5% royalty until 3x money back, then 2% in perpetuity, no equity given up	Declined

Jessica Off, from London, Ontario, asked for $250,000 for 5% equity in Guess Where Trips, a one-day surprise road trip company. Customers receive sealed envelopes revealing stops along a themed route, with a paper guide costing $65 or a digital PDF for $39; the company offers over 100 itineraries and has served about 110,000 customers. The business has done about $6 million in sales to date, with $2.5 million last year and a projection of $5 million this year after launching in the US, with EBITDA margins around 55% and net margins around 45%; marketing spend was about $180,000 last year, and 92% of sales are currently in Ontario.

Manjit Minhas went out, feeling the founder did not need outside help. Michele Romanow offered $250,000 for 10% equity plus a 5% royalty until double her money back, which was declined. Arlene Dickinson and Brian Scudamore made a joint offer of $250,000 for a 10% royalty until 4x money back, which Jessica Off accepted, while Wes Hall's competing royalty-only offer was declined.

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