True North Mortgage on Dragon's Den

Dan Eisner Presents his business, True North Mortgage to the Dragons on CBC's Dragons Den

Category:

Pets & Animals

Tags:

• Dragon's
• Den
• True
• North
• Mortgage
• Canada

[mortgageguycanada]

Not yet. We have opened in Toronto and we can take mortgage applications from across Canada.

[rlui123]

what do you need the dragons money for? you have the means to accumulate $240,000 in 2 years just by your salary alone, so why do you want to give up 50% of your entire business to get it up front? sorry, but it just doesn't make any sense. so tell us, what was the reasoning behind your decision?

[mortgageguycanada]

After the show we reassessed our situation and never took the Dragons' money.

[BrokHomz]

congrats, i checked out your website,,, i still only see 2 locations in Canada (Calgary)..... is this business going to be a slow growth deal? I assumed from the presentation that there would be more locations by now. Thanks, and God Bless.

[mortgageguycanada]

We are pleased to announce that we will be opening our third location and it will be located downtown Toronto. We never took the Dragons' money in the end.

[BelgianRonPaulFan]

Dain, nice business. What I don't get, you state the following numbers:

Revenue 500K

Your salary 120K

Profit 350K

=> How can you only have 30K in costs for rent, admin, taxes and payroll?

[mortgageguycanada]

Revenues were a lot higher.

[Zordrack]

I really don't know how these dragons calculate the value of a business. Are they out of their minds or just the worst sharks ever??? 350K in profit and they evaluate the business at 500k... I saw another episode with a business that had revenues of 2.5 millions a year and 800k in profit and they told the guy the business didn't worth 2.5 millions but 1 million instead... I am new in investment but i really think that a business worth more than 1 or 2 years worth of profit...

[ucheHapers]

suddenly they are interested and now greedy

[RadioactiveBraunMan]

@Zordrack well, a business "value" is a quite subjective term nowadays.

if youre being ultra conservative (which is smart often..) a business's value would be somewhere along the lines of assets + accounts receivable - obligations. Every cent beyond that is technically speculative. And as with all speculation its an odds game in my ways.

However, this here is a tv show long before it is anything else. The british equivalent is closer to "real" business, but still quite far off. This is fiction

[webdesigner70]

I saw where you didn't take the money, good for you! You don't need their money for what you are generating and profiting every month! When they offered 51%, I was crossing my fingers that you would not accept that, that is crazy!! You're a smart guy, keep doing what you are doing, you're making money, you are profitable, you don't need them!!

[VideoShow416]

Hey good stuff, when your Toronto store opens I will be checking it out.

[TheMissLainey]

@mortgageguycanada i almost died when you accepted the deal. i was thinking - he's losing 50% of his company when he can make $10K a month from it! Then I saw your comment that you didn't accept the money from them. What a relief! lol = a very good way to promote your product though *wink* good job!

[JoeMamma23]

@mortgageguycanada That's good, Kevin's deal sounded so horrible. 

[tech4156]

why not licence this idea somehow so if anyone else does it you get a revenue cut.

[djwattz06]

i think u guys will do better with out the dragons money they were trying to ripp u

[StickyickyX]

@rlui123 Well, first of all, the show matches 10% of whatever offer they reach with the "dragons". Second of all, very very few, if any of these supposedly accepted deals ever go through after the cameras stop rolling. It's just TV, it's not real. Third of all, it's free marketing & publicity for the companies/individuals and contrary to your belief, it's not bad marketing.

[rlui123]

@StickyickyX He got "free marketing" when he appeared on the show, he didn't need to accept any ridiculous offers. It makes him look stupid, I rather have no marketing than BAD marketing.