Provision Athletics

Lorne Osborne
Airdrie, AB

The pitch

Lorne Osborne from Airdrie, AB, pitched Provision Athletics in Season 12, Episode 6, 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
Michael Wekerle	Felt there was no barrier to entry, anyone could replicate the business	Out
Joe Mimran	Said the business was too small-scale, a one-man operation, needs more growth before investing	Out
Michele Romanow	Said it was a good lifestyle business but not investable for her	Out
Arlene Dickinson	Felt the competitive space was too crowded and unclear differentiation	Out
Manjit Minhas	Said the business was not disruptive enough and had no barriers to entry	Out

Lorne Osborne, from Airdrie, Alberta, pitched Provision Athletics, a personal training company that creates customized fitness programs delivered through an app, with clients following along to videos and photos and receiving daily contact from trainers, asking $50,000 for 10% of the company. The service costs about $69 per week for unlimited workouts, and the company has done over $500,000 in revenue over four years, including $135,000 last year, with clients typically staying on the platform for about five months; the company currently has 11 employees.

Michael Wekerle went out first, saying there was no barrier to entry and the model could easily be copied. Joe Mimran said the business was still too small and one-man-band in nature to invest in. Michele Romanow and Arlene Dickinson both said the market was too crowded and the business, while a decent lifestyle business, was not investable for them. Manjit Minhas closed out the Dragons, saying the business was not disruptive and lacked barriers to entry, leaving Lorne Osborne with no deal.

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