Marxman is a breakthrough instrument that with a single press, identifies almost every surface—from mosaics to stone dashes, walls to woods and metal—quickly, effortlessly, and clearly, making it suitable for piercing or repairing. Marxman saves you the energy and aggravation of noting an area to use for piercing or fastening.
Martin Chard appeared on Dragon’s Den in August 2016 with his wife Jenny David to launch their company. Go through the article to know about the Dragon’s opinion about the product.
About the Founder
Martin Chard was a worker in the construction industry who suffered from dyslexia and autism. He had trouble specifically identifying the entry points that needed to mount the fittings. He created the supercharged MarXman chalk pen to streamline his daily tasks while boosting the accuracy of his job. He co-founded the MarXman Company with his spouse, Jenny David.
Founding the MarXman
The MarXman is a device that, when squeezed, shoots an explosion of a marker into a fixture’s holes to create straight lines. The chalk never fades up or becomes clogged, it remains permanent. It also doesn’t get brittle and needs to be regularly sharpened like an ordinary pencil. Synchronization is a far quicker and simpler operation. Additionally, it increases the accuracy of hole drilling and reduces plenty of labor for home-workers or building employees.
Dragon’s Den Appearance
Both the husband and wife wanted $ 63,748.50 in exchange for 20% of the company. They acknowledged that they lacked managerial skills as they obtained trademarks without conducting adequate market analysis. They possessed pending copyrights in the US as well as in China, the UK, and Europe.
The couple poured $ 1,91,227.65 into it. At that very moment, it seemed as if the proposal had little chance of winning but Touka Sulieman saved it. He questioned the pair concerning their sales but they were unable to provide a feeling of assurance. Nick Jenkins highlighted the problem of the couple’s lack of economic knowledge. He correctly noticed that the couple might require ongoing assistance for a lot of decades, not simply a financial commitment.
However, the primary aspect raised by Deborah Meaden concerned the market value of the flats. Her connections could produce the item for cheaper prices whereas; her second aspect was quite fascinating and related to how the company was governed.
Deborah proposed $ 63,748.50 for 30% of the company’s stock because she knew that she would be in charge of the organization’s workload. She also possesses the connections needed to get the company off the ground. Deborah’s advice caused Nick to dive once more and make a request of $ 63,748.50 for 30%.
Touka subsequently made a bid for 15% of the funds with a second Dragon to assist the company. Touka accepted Sarah Willingham’s proposal to form alliances in exchange for 15% and fifty percent of the funds. Deborah’s original proposal was beaten by Peter Jones’ proposal of $63,748.50 for 25%.
After Dragon’s Den
Unexpectedly, the pair chose Deborah’s offer. They admired her connections, knowledge about the product, and enthusiasm. With an agreement in place and the prospect of a happier future as a team, the couple departed.
Although the introduction probably had begun with a slightly awful tone, it ended in financial joy, and since then the business has generated a projected value surpassing $12,74,100.00.
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