$1Mfor 10%
Protein Candy
Valued at $10M
The pitch
Gaby Saucedo and Mike Karpishka from Ottawa, ON, pitched Palapa Tours in Season 17, Episode 6, asking the Dragons for $250K for 15% of the company.
- Asked for$250K for 15%
- Valuation$1.67Mimplied by the ask
- OutcomeNo deal
Offers in the Den
| Dragon | Offer | Result |
|---|---|---|
| Robert Herjavec | Concerned about limited market size, no deal | Out |
| Vincenzo Guzzo | Concerned about liability risk of alcohol on the water | Out |
| Wes Hall | Not a lifestyle investment for him | Out |
| Manjit Minhas | No barriers to entry, called it a raft with a bar | Out |
| Michele Romanow | Believes in the founders as salespeople but not as an investment | Out |
Gaby Saucedo and Mike Karpishka of Ottawa, ON pitched Palapa Tours, asking for $250,000 for a 15% stake. The business operates motorized floating tiki bars on the Ottawa River that hold up to 12 passengers for 90-minute tours, offering individual tickets and full boat charters, with bachelorette parties as the most popular booking. Tickets cost $60 on weekdays and $75 to $80 on weekends, with alcohol sales making up about 20% of revenue. In 2021, before operating, they sold $300,000 in tickets, and after lockdown delays sold $750,000 total in Ottawa, but had to refund $550,000 to customers. This year, pre-season ticket sales were around $120,000.
All five Dragons declined to invest. Robert Herjavec felt the market was too limited, Vincenzo Guzzo was concerned about the risk of guests getting intoxicated on the water, Wes Hall said it was a good lifestyle business but not the right investment for him, Manjit Minhas felt there were no real barriers to entry, and Michele Romanow believed in the founders' sales ability but not as an investment. The business left without a deal.
Pitch details from CBC’s Dragons’ Den pitch page.
Palapa Tours today
- StatusIn businessLast checked September 2026
Palapa Tours is still operating and sells through its website.