The company, Tags Crisps founded by John Tague, which got premiered on Dragons Den in August 2015. He entered the Den and impressed the Dragons with his marketing scheme and his business knowledge.
Will the dragons be persuaded to grab a nice snack? However, two Dragons ultimately closed the transaction after a brief biting over the snack!
Let’s know, what made John Tague, the creator of Tags Crisps, have an estimated wealth of $4.27 million as of 2023.
About the Founder
Retired Seabrook Crisps MD John Tague has had executive roles in several businesses.
After switching between businesses for a while, he eventually discovered his niche in the food and beverage industry.
He had the faith to launch Tags Crisps because of his expertise, knowledge, and performance at Seabrook.
Founding the Tags Crisps
Tags A family-run company called Crisps sells snacks like crisps.
Tags, the customary hand-cooked snacks known as crisps are available in a range of flavors like sweet chili, mature cheddar and red onion, cider vinegar and sea salt, and others.
Dragons Den Appearance
John Tague requested $1,58,306.25 in exchange for 5% of Tags Crisps. His objective was to expand Tags into England’s largest local food snack manufacturer.
The Dragons examined the figures after approvingly evaluating the goods. Tague claimed that Tags Crisps produced 10,000 bags weekly at an annual price of $7,598.07 each week. This pleased the Dragons.
Tague was questioned about his purpose of coming to the Den by Sarah Willingham, who was perplexed.
Touker Suleyman had queries regarding his additional distributors. This conversation was interrupted by Deborah Meaden stated that she had mixed feelings because the marketplace is so fiercely competitive, but she also admitted that Tague was knowledgeable.
Meaden offered 10% equity in exchange for half of the funds – $79,141.44. Given the past, she proposed a close collaboration with Jones.
Meaden and Jones talked to one another. Jones responded with the remaining cash but for 15%. Meaden consented to it.
Nick Jenkins politely declined because he thought Tague understood more regarding the industry compared to he did.
Suleyman countered with an offer, the entire sum for 27%, or half of it for 15% in collaboration alongside a different Dragon who could supplement his capacity to help Tague.
However, Tague persuaded Jones and Meaden to give him the chance to sell them part of their stock.
Meaden and Jones seemed uneasy forcing Tague to an extent that he was not pleased with the negotiations. Jones made a last offer, stating that he and Meaden would both reduce to 10% after the loan had been repaid. Tague endorsed the agreement.
After Dragon’s Den
Tague required an amount of dedication in a written consent which the Dragons were unwilling to provide. Following the show, the Dragons and Tagues decided against moving forward.
The publicity from Dragons’ Den caused profits to rise in seven days. Now, Tags are everywhere in the United Kingdom.
The estimated annual revenue for Tags was $12,66,270.00, followed by $37,98,990.00 followed by $88,64,310.00 in the subsequent seasons.
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