Little Captain's dog leashes break following performance in DHDL event

Little Captain's dog leashes break following performance in DHDL event

Budding Entrepreneurs Unveil Child-Friendly Dog Leash, but Struggle with theLion's Den

For young kids desiring a pet, managing the responsibility might be too much. Recognizing this issue, innovative duo Christoph Graf and his sister Anja launched Little Captain - a startup offering a kid-safe dog leash, making its debut on the popular show, "The Lion's Den."

This unique leash design sports separate loops for both adults and children, employing magnets to detach the child's loop when the leash is overstretched, shielding them from unwanted falls. However, if the child takes control of the leash, it too detaches should the tension intensify, releasing the dog entirely. To ensure the dog's safety, a secure space is essential.

Graf sought an investment of €100,000 in exchange for a 25.1% stake, offering co-decision rights.

The Untapped Deal with Little Captain

Passionate animal advocate, investor Dagmar Woerl, seemed like Graf's perfect match. She even made an enticing proposal - €100,000 for 30% of the company's shares. Graf graciously agreed. Woerl was captivated by the theme, the founder, and the emotional resonance but was uncertain about the figures that Little Captain could demonstrate at the time of recording due to their leash yet to hit the market. Woerl voiced her concerns during the show, "This business won't explode overnight," yet she expressed admiration for Graf's earnestness and the thought he'd poured into the project.

Regrettably, the deal never materialized after the program, as Gründerszene learnt from Woerl's inner circle. "The deal ultimately did not materialize. In the end, our visions for how to develop the company sustainably and strategically were too disparate. However, we did engage in extensive discussions and offered the founders valuable advice."

The Lions' Impressions Fall Short of an Investment

Overwhelmed by Graf's performance and his niece Theresa, all lions voiced their approval. They were equally smitten with Graf's Australian Shepherd, Captain, sharing the startup's namesake. Woerl praised the design's lavishness, while Maschmeyer commended the craftsmanship. Despite this, only Woerl voiced a desire to invest.

Maschmeyer admitted Graf had found his first customer in him, but dismissed the product as a poor fit for his investment portfolio. Dümler already backed another dog leash startup, opting against further investment due to potential conflicts. Schulz expressed reservations about the valuation, maintaining that it was inflated given Little Captain hadn't demonstrated any sales at the time of recording. Williams, too, declined due to doubts regarding the product's market potential.

Graf mentioned the first batch of 600 leashes was en route, but Little Captain hadn't secured any sales at the time of recording. The leash retails at €59.90. Woerl deemed this a "sporty price," while Graf argued it was necessary to compete in the market. Dümler countered that most dog leashes cost around €24, and the production cost for Little Captain's leash is €20.07. The price could decrease substantially with higher quantities - €16.80 for 5,000 leashes and €15.94 for 10,000.

Little Captain: Now Online and Ready for Business

As of today, Little Captain sells its dog leashes through Amazon and its own online shop. However, the Tau model, suitable for dogs up to 25 kg, along with additional lengths, now costs €34.99 on the website. For smaller dogs, other models are available at similar prices. The leashes, according to the company's site, undergo rigorous testing, with the most recent test conducted on April 8th.

1. Dagmar Woerl, an animal advocate and investor, disagreed with the initial valuation of Little Captain and proposed a different deal: €100,000 for 30% of the company's shares.
2. Graf, the founder of Little Captain, graciously agreed to Woerl's offer, impressed by her understanding of the startup's potential and emotional resonance.
3. Despite showing approval and interest, the other investors, Maschmeyer, Dümler, Schulz, and Williams, had reservations about the valuation, market potential, or conflicts with existing investments, and ultimately decided not to invest.
4. Now, Little Captain's dog leashes are available for purchase on Amazon and the company's own online shop, with prices starting from €34.99, a lower price point than initially proposed, with potential for further decrease with higher production quantities.

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