A GEM IN THE MAKING Seán McGarry Jnr was a big hit with the dragons on Dragons’ Den last week.
ShowerGem’s Seán McGarry secures £100,000 investment
A multi-award-winning shower organiser, founded by a Westport father and son, has secured investment from three Dragons in the new BBC Dragons’ Den series. The episode, which aired last week, saw the founder impress the Dragons with his market knowledge and ‘Irish charm’.
On entering the Den, ShowerGem’s founder Seán McGarry Jnr originally asked for £100,000 in return for 10 percent of his and his father’s family business. McGarry showcased his innovative product, a shower organiser that needed no suction cups or drilling to be installed, and secured a deal for the full amount from three of the Dragons.
Seán McGarry delivered a confident pitch, where he demonstrated strong knowledge of the market and his business’ financials, with Dragon Deborah Meaden stating that ‘it must be your Irish Charm because the more you speak the more I like you’ and that Seán is ‘exactly the type of entrepreneur that we love to see walking into the Den’.
New Dragon, Sara Davies, was so impressed with the Irishman she vowed to make him into the ‘next Dragon’ and a ‘global success’ if he accepted her investment.
The young entrepreneur went into the Den knowing he would have to be firm in negotiations, and after refusing to include all future products in the deal, Peter Jones abruptly declared he ‘was out’.
However, three Dragons remained and after a successful pitch, Seán Jr won over Sara Davies, Touker Suleyman and Tej Lalvani, who made an offer of £100,000 for a 30 percent stake in ShowerGem.
Despite having already received a ‘Dragon threesome’ offer, in the words of Sara Davies, McGarry continued to fight hard in negotiations and secured £100,000 in return for the Dragons having an 8 percent stake each.
Staff to be hired
The £100,000 investment will be used to hire staff and increase ShowerGem’s presence in Europe and America.
ShowerGem was born from Seán’s father’s frustration at his daughter’s razors and shampoos being strewn across the shower floor and cluttering the family bathroom. He tried using the traditional metal caddies but the suction cups would never work and they would soon rust. Fed up of this situation he went into his workshop and created the ShowerGem. McGarry Jr. was so impressed that he vowed to take it to market.
ShowerGem Ltd was founded in October 2015 by father and son duo, Seán McGarry Snr and Seán McGarry Jnr. Once founded, there was an initial three-year period of prototype development and materials testing in order to ensure product quality before trading finally began in October 2018. Since this time, significant growth has been achieved with ShowerGem winning multiple awards and securing both private and government funded investment. The Irish company also has a global IP portfolio consisting of trademarks, patents and registered designs. ShowerGem is designed, manufactured and assembled in Ireland with all orders receiving free two-day delivery from its UK warehouse.
Seán McGarry Jnr was naturally delighted with the Dragons’ reactions. “When I heard Tej say those seven magic words ‘I’m going to make you an offer’, I felt the most intense sense of relief. You know then that you are doing something right and that the product has merit. It’s really great to get that recognition from successful business people. Then when Sara and Touker also made follow up offers, it was just incredible. I couldn’t have wished for it to have gone better.
“When I told the Dragons that I’d accept their joint investment, they all jumped up off their seats, congratulated me and then told me how brilliant they thought ShowerGem was and how they can’t wait to be involved. I’m still reliving every moment of it.”
Seán’s father, Sean Snr added: “I am thrilled with the deal that Seán managed to get through. The ShowerGem was born through the frustration caused by those awful metal caddies, so it was great to see the Dragons recognise that a problem existed with the ShowerGem being the solution.”