Dragons’ Den success stories: Mainstage Travel
The clubbing travel brand achieved the highest Den valuation since 2007, and has been on a growth ascent ever since with revenues in the millions...
Company name: Mainstage Travel
Description: Youth-focused tour operator
Investment received: £100,000 for 15%
Dragon investor: Piers Linney
Still in business? Yes – Linney remains shareholder
It’s not often that a business secures £100,000 for 15% equity in the Den, in fact only two businesses have ever been valued higher – Igloo and iTeddy – since the BBC Two show began in 2005.
Founded in 2011 by young entrepreneurs Rob Tominey and Aden Levin, Startups 100-listed Mainstage Travel offers “once in a lifetime” low-cost clubbing holidays for the 18-24 market and is responsible for package holidays such as Magaluf Takeover and Snowboxx; allegedly Europe’s second largest ski festival.
When Tominey and Levin pitched to the Dragons, the business had already hit revenue figures of £1.6m and £257,000 profit with projections of £3.5m and £500,000 profit so it was unsurprising that Meaden, Jones, Bannatyne and Linney all made offers of investment.
With Linney’s offer in the bag, over the past year Mainstage Travel has fast gained momentum and added several youth packages to its offering including Croatia Rocks, Outlook Festival, and Magalove (a holiday for Magaluf fans).
Revenue figures are now well above those pitched in the Den and, in October of 2014, Growing Business recognised Tominey and Levin’s early success in the prestigious Young Guns awards – named ones to watch for 2015.
Watch the original pitch here.