Faye Whitley and Jake Powell, co-founders of Beevive – which won the Gift of the Year 2024 Best Design & Craft Product or Range category for their DIY Bee Hotel Kit – received the invaluable backing of Dragon Deborah Meaden on last night’s Dragons’ Den – although not a monetary investment. (6 February).
On her way to the Den, a confident Faye said: “Bees are such an important part of our environment, and we are so passionate to present this to the Dragons. We think it is definitely something they are going to want to invest in.”
The couple asked for £80,00 in return for 8% of their bee saving business, with Jake explaining: “In 2018, we were on holiday in Cornwall and came across a tired bee on the pavement. There were no flowers nearby and I recalled my grandma’s advice on how a drop of sugar water could give a tired bee a boost. We quickly made up a solution at a nearby café and, to our amazement, the bee took a few sips, buzzed its wings and flew away. In that moment we felt like heroes.”
Continued Faye: “Inspired by that spontaneous moment, we started learning about bees and the challenges they face. A bee’s main food source is flowers, and since the 1930s the UK has lost 97% of its wildflower meadows. Thirty five bee species are currently under threat of extinction.”
Added Jake, “That is why we invented our flagship product the Bee Revival Kit, a keyring containing a small bottle of bee food syrup to give to a bee in need.” Since then, the product range has expanded to include a Bee Hotel and a Bamboo Bee Revival Kit keyring which are assembled in the company’s Devon studio.
Continuing his pitch to the Dragons, Jake pointed out: “To date, we have sold over 116,000 keyrings and generated in excess of £1m in revenue. Now we would like to expand our impact and growth to the US and European markets and we look are looking to you to join us on our mission.”
After explaining how the company’s turnover and net profit had grown since the company registers in 2019, the Dragons all seemed impressed, with Steven Bartlett asking if it could become an investable business that delivered an investable return, or if the couple had a different vision.
“So far, growth has been organic, with people sharing videos on social media, but we feel that with a great marketing strategy, and with a distribution model in the US and Europe, the business and its impact is really scalable, and that’s our dream for it,” said Faye.
As a keen beekeeper herself, Deborah Meaden agreed that there is a massive market in the US, a country that lost half its population of honey bees last year. “I can completely see that you have an opportunity there,” she told the couple, with Faye explaining that not only could Bevive help to save bees, but that the range could grow into a garden and homewares range, with a book already in the pipeline.
Although Dragons Peter Jones, Steven Bartlett, Sara Davies and Touker Suleyman were very complimentary about Beevive, ultimately they all said, “I’m out”regarding investing in the business.
However, Deborah Meaden, told Faye and Jake: “I love what you are doing. I don’t think you need an investor, but I’m going to make you an offer, but it’s not an offer for any of the money. It’s an offer to say that I would be devastated if I sat here and I let you go without saying I can help. So I’m not going to invest but I’m very, very happy to help you find your way into these foreign markets and also expand in the UK.”
As they walked away from the Den, Faye commented: “There’s a lot of emotions, but we’re really happy they they all got the business and got our passion. It’s very special that Deborah put in that offer. It really shows how much she cares, without asking for any of our business.” As Jake put it: “USA here we come!”
Top: DIY Bee Hotel Kit from Beevive.
