Dragons’ Den success stories: GripIt Fixings
At 18, Jordan Daykin became the youngest entrepreneur to land investment in the Den. Today, his global DIY fixing business is said to be worth £14m...
Company name: GripIt Fixings Ltd
Description: Plasterboard fixing for DIY projects, capable of holding loads of up to 180kg
Series: 12, episode five
Investment received: £80,000
Dragon investor: Deborah Meaden
GripIt Fixing founder Jordan Daykin made Dragons’ Den history when, at 18 years-old, he became the youngest entrepreneur to ever secure investment on the show.
Having created a patented solution for firmly fixing screws into plasterboard with the ability to hold 180kg in weight, Daykin’s confident pitch won over Deborah Meaden who invested £80,000 for a 25% equity stake in the business. And her decision to invest was a sensible one.
Since the show aired, GripIt Fixings has gone on to raise £2m in crowdfunding – in just five days – and has signed international stockists such as US-chain Home Depot, alongside listings with over 3,000 UK stores including Screwfix, B&Q, and Wickes. The DIY repair solution can also be found in stores across Australia and South Africa.
While still only 20 years-old, Daykin’s start-up venture is already profitable and he claims that the business is now worth £14m; which means Meaden is set to make a good return. In fact, Daykin has gone so far as to say that his business is the Den’s “biggest ever success story”.
When it comes to future growth, Daykin wants to make GripIt a household name brand and plans to do all that he can to reach this goal including expanding the range of products on offer such as a kit designed especially to hang flat-screen TVs on the wall.
Find out more about the pitch here.