Somerset Duo Prove You Don’t Need Dragons to Succeed
As the new series of Dragons Den hits our screen this July, two Somerset mums are proving that you really don’t need the dragons to succeed in business. Helen Wooldridge and Polly Marsh appeared on the last series of the programme with their clever Cuddledry baby bath towel, secured three offers of investment – then turned them all down! Less than a year Cuddledry is a bestseller and the turnover of the business is already 30% ahead of projections.
James Caan has referred to not investing in Cuddledry as his biggest regret from his first series, after the enterprising duo refused to agree to his demand for a 40% share in the business. They had the guts to go it alone and since their appearance they have smashed projections, secured new retail outlets, expanded internationally, won awards and launched new products for toddlers.
Polly comments, “We were pulled up on our figures in the Den and told we weren’t being realistic about how much money Cuddledry could make. We always believed the business had huge potential and it looks like we were right - in fact our year one figures are going to be closer to our year two projections. Although it does feel good to prove the dragons wrong, we have to say that the experience was invaluable to us. During our two hour grilling we were giving advice and guidance by all of the dragons, which we have since applied to the business.”
Helen continues, “There were certain things that the dragons said in the den that we have really taken on board and which have helped us meet our business goals – they are experts and it was great to get the chance to benefit from their knowledge. It has been an exciting, if very busy, year for us!”
Thanks to a lot of hard work, Cuddledry is now available in major retailers including John Lewis and ToyRUs, as well as in twenty countries worldwide. The company has also been awarded a highly sought after place on the EVOLVE scheme in the South West region, which focuses on fast growth businesses identified as being the leaders of tomorrow in the region
They are also proving James Caan’s prediction of ‘walking into a shop and seeing a whole range of Cuddledry products’ to be true, with the introduction of new products including the funky Cuddlemoo and Cuddlebug toddler towels, as well a new cowprint version of the original Cuddledry towel which goes on sale in September. In addition they have diversified into the pet sector with the launch of the Doggydry towel - available from www.doggydry.com.
As well as keeping themselves busy building up the business, Helen and Polly have also been out and about inspiring the next generation of entrepreneurs in the South West. They are involved in the Young Enterprise scheme and have been speaking about their business and the Dragon’s Den experience in schools across Somerset.
Helen said, “It’s so important to nurture entrepreneurial spirit in young people and it has been great to go into schools, tell them about our business and share what we learnt from the Dragon’s Den experience. We are so pleased to have said no to the offers we received in the Den and to have retained our equity. We’re proud to be proving that a small business can achieve fast growth, even without major investment.”
The original Cuddledry baby bath towel costs £24.99 and is available is oatmeal, natural white, soft pink and blue, and cowprint from late September!
For more information about Cuddledry products visit www.cuddledry.com