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| Kiddimoto | 13 Sep 2011 |
Dragons' Den Victory For Somerset Entrepreneur
Riding high! That’s children’s balance bike entrepreneur Simon Booth who emerged from last night’s Dragons’ Den with the backing of two dragons.
He secured a £75k investment for his Somerset-based company Kiddimoto, after facing stiff interrogation from new dragon Hilary Devey and long-timer Duncan Bannatyne.
Enlisting the help of his 3 year old daughter Ruby, who demonstrated one of Kiddimoto’s pedal free wooden bikes in the Den, a joint deal for 15% equity each was struck.
“You could say I felt like 100 smiles per hour afterwards”, said Simon.
“But as I walked up the stairs into the Den I was very nervous. It was as if I’d been suddenly sucked through the TV screen in my living room straight into a new high-definition world. The experience was worth it though.
“My company is in the great position of bucking the recessionary trends and I went in to what seemed like the most daunting business pitch of my life with two clear objectives in mind.
“One was to seek investment to help significantly increase production to service the growing demand for my bikes. The other, and very important thing, was to seek a partnership with a business mentor to guide me through Kiddimoto’s rapid expansion. It was fantastic to come out with both!”
Established in 2004, Simon first designed and hand-made balance bikes from his Cheddar Valley home.
With a personal passion for motorbikes, his original aim was to design children’s bikes with all the motorcycle good looks – but without the pedals – as the perfect introduction to life on two wheels for youngsters.
Now a multi-award winning business, with its small head office and distribution centre in the Mendips, Kiddimoto’s vision continues to be to encourage 2-6 year olds to learn to ride the fun and easy way – and as a development tool for youngster’s co-ordination, motor-skills, balance and confidence.
View the range at www.kiddimoto.co.uk
