What is Dragons’ Den Magic Whiteboard?
Do you recall the days when carrying a whiteboard was impossible for us? Mostly, the office or meeting place used to provide us with the whiteboard for our work. Thanks to Magic Whiteboard, this is no longer much of an issue.
Dragons’ Den Magic Whiteboard is an easily portable whiteboard stored in a roll. It consists of A1-size whiteboard sheets in a roll that can be easily attached to any surface, transforming into a fully-mobile whiteboard. Thus, with the mobile whiteboard, you can effortlessly move from place to place without worrying about carrying a bulky regular whiteboard ever again.
This mobile whiteboard soon became a big success. At present, the company offers a wide range of products. Its latest innovations include eco-friendly notebooks, a whiteboard blackout blind, reusable self-stick notes and a children’s tabletop magnetic whiteboard. Recently, the company also designed Travel Blackout Blind and Magic Blackout Blind that block all light. These products are available at Argos, JoJo Maman Bebe, the magic whiteboard website, and other stores.
Who are the Founders of Dragons’ Den Magic Whiteboard
In 2006, business partners and husband and wife Neil and Laura Westwood designed Magic Whiteboard, an easily portable whiteboard. The Westwood couple resides in Worcester, United Kingdom. Apart from running a multi-million-pound business, they are proud parents of two children. Before co-founding his company, Neil served at the National Health Service. Anyone can easily roll up these magic whiteboards and carry them anywhere.
A Look at the Pitch of Magic Whiteboard on Dragons’ Den
In September 2008, Laura and Neil pitched the portable A1-sized Magic Whiteboard on the BBC show Dragons’ Den. The duo sought a £100k investment for a 15% stake in the company.
Initially, the couple failed to impress the dragons, with Peter Jones calling the product ridiculous and asking, “Why would anyone buy it”. Neil immediately answered, “If you work in a group or train people, the product can help you.” However, Peter quickly cut off Neil and said, “Well, in that case, I would use a regular whiteboard rather than carrying a portable whiteboard.”
Laura swiftly responded, “Many times, employees, clients or bosses attend urgent meetings without prior information about the venue. Upon reaching the meeting hall or office, they are unaware of the facilities and amenities available at the venue. Thus, in such cases, instead of carrying a big flip chart pad and a big flip chart stand, people can easily carry this portable whiteboard.”
However, after listening to Neil and Laura’s argument, other dragons were impressed by the Magic Whiteboard. Moreover, James Caan, Duncan Bannatyne, Deborah Meaden and Theo Paphitis proposed to invest in the business.
Further, after a tough negotiation, Dragon Deborah Meaden and Theo Paphitis invested £100k for a 40% equity stake in the company.
Soon after Laura and Neil’s appearance on Dragons’ Den, their product became one of the TV show’s most successful investment opportunities.
The portable whiteboard company has achieved tremendous growth since its establishment and has been supercharged by two dragons.
Where is Dragons’ Den Magic Whiteboard Now?
Magic Whiteboard is the UK’s leading and favourite whiteboard company. The net worth of the company is £1.6m. By 2014, Neil and Laura witnessed rapid growth in sales and managed to increase their turnover to £1.2m. Moreover, in 2014, the duo bought back their shares from Theo and Deborah, paying the Dragons an £800k return on their investment. Thus, the couple now owns 100% of the company. By 2016, Magic Whiteboard sold more than a million products and expanded further ventures with the returns from their original design.
Magic Whiteboard is now famous as “a classroom and office must-have”. After appearing on the Dragons’ Den, over 240 Ryman stores started selling the Magic Whiteboard as a favourite office supply. Currently, Magic Whiteboard’s products are available on their official website, Viking Direct and Sainsbury’s stores, with global customers. Its products are available globally in over 20 nations.
Moreover, it has become “the perfect partner” for working from home. Apart from selling Magic Whiteboard, the company offers school tabletop whiteboards, magnetic whiteboards, reusable notebooks, markers and children’s tabletop whiteboards. They also provide tree-free notebooks, reusable stone paper notebooks, pegboards, blackout blinds, sticky notes, and regular whiteboards.
Get Inspired by the Story of Dragons’ Den Magic Whiteboard
The journey of Magic Whiteboard is a true inspiration for budding entrepreneurs. Neil and Laura’s innovation was simple yet creative. They designed a portable whiteboard that could be carried and stuck anywhere without glues or screws. The couple noticed an issue and revolutionised the regular whiteboard with their unique solution. Dragons’ Den proves how simple and innovative ideas can help entrepreneurs achieve success and fame.
Dragons’ Den was the best platform for Magic Whiteboard to obtain investment and create brand awareness. The company’s rapid growth shows the significance of invention, hard work, determination and creativity. The continued expansion of the portable whiteboard demonstrates the power of an ingenious idea and its impact on the industry.
BBC show Dragons’ Den offers countless remarkable opportunities to entrepreneurs. The BBC reality show is the best platform for ordinary people to show their unique business ideas, innovation and creativity to the world. Magic Whiteboard encourages us to believe in our business and take steps to make it successful.
How to Become the Next Dragons’ Den Magic Whiteboard
Dragons’ Den portable whiteboard combines knowledge, creativity, business understanding, determination and intelligence. You can also become the next Dragons’ Den Magic Whiteboard by creating an ingenious and unique product or service.
Firstly, create something that solves a major real-world problem and fulfils society’s needs. Moreover, research the industry and competitors to enhance your product and identify gaps in the sector. Build a clear business plan highlighting your vision, mission, PR and marketing strategy, expected returns and target audience.
Finally, seek funds and participate in networking events to build connections and create brand awareness. Consistently practise your pitch and show accurate data and information. Additionally, show real and believable profits, product value proposition, and net worth.
Innovation, ingenuity, intelligence, commitment, hard work, and perseverance can help you make your product the next Dragons’ Den Magic Whiteboard. If you are looking for other useful and helpful resources or Dragons’ Den-related information, read our other articles.