Good behavior makes a person more beautiful. Positive behavior can change the mood, create bonds and make a person better.
Abiola-Ajayi-obe is a woman, who likes being courteous and making the children well-mannered too. This made her create SmartChartz. Her entry into the Den was a road to success?
Let’s explore more about the brand and see their journey.
Quick Facts
| Founders name: | Abiola Ajaye-Obe |
| Business details: | Picture system to discourage bad behavior in children |
| Founded in: | 2003 |
| Location : | UK |
| Asking of Company: | £180,000 For 18% Equity |
| Accepted Deals: | No Deal |
| Dragon on board (Investors): | None |
| Dragons’ Den Episode: | Season 03 Episode 08 |
| Net Worth | £180 000 |
| Business Status: | Not Active |
| Last Updated: | Feb 24, 2024 |
About the Founder
To be a mother who stays at home, Abiola Ajayi-obe resigned from her position as a hospital risk supervisor for the National Health Service (NHS). She struggled to encourage her kids to behave properly and complete their jobs, among other things they should be doing. She also struggled with coming up with effective ways to correct poor behavior.
Ajayi-obe created the SmartChartz to aid herself, but when her relatives and close companions expressed interest, she decided to broaden her reach.
Founding SmartChartz
Both educators and parents can use the SmartChartz system to reward youngsters for excellent behavior and punish them for misbehavior. SmartChartz is built on an incentive system that relies more on pictures and illustrations than words.
Positive conduct is linked with benefits that kids take for granted, like extra bedtime tales or park outings. Three months’ worth of editable SmartChartz layouts is included in each box.
Dragon’s Den Appearance
For an 18% ownership part in the business, Ajayi-obe sought the Dragons for a $2,28,613.50 investment. Each item was produced for $9.53 and sold at a wholesale price of £25.39. Only 800 to 900 copies had been sold by the time she made an appearance on Dragons’ Den.
The Dragons were completely perplexed by her prediction that she would make $12,69,989 in sales over the next 18 months. The perspective and expectations that Abiola Ajayi-obe had for the product were criticized by all of the Dragons. They believed that she was disregarding their suggestions and challenging the experts’ conclusions without any supporting data.
The comparison of her product to Mr. Men’s children’s novel was not well received by the dragons. However, ignoring everything, the Dragons permitted the negotiations.
After Dragon’s Den
The Dragons were approached by Abiola Ajayi-obe with an absurd monetary investment pitch. But, she refused to take their advice and continued with flawed business strategies to the table. Without a deal or the assistance of the Dragons, she departed the Den and went all by herself.
Ajayi-obe’s company turned out to be an unsuccessful one and the company was shut down in 2016 with zero net worth. At the East London NHS Foundation Trust, where she used to work as a risk manager, returned to her original profession as a safety administration.