Chukwuma Charles, CEO of Perchams Foods. came into the Den for an investment to scale up his agro-processing business. However, a few inconsistencies in his pitch throws a wrench in the works and he ends up 'lion-less'.
I think his inability to separate his business from himself was a major red flag for the Lions. You don't just wake up and take something from the business, there needs to be a structure.
I love Paul Owanibe cause he's a constructive critic. He's so careless in his analysis and straight up points out the loop holes. Anyone who works with him would go through some grinding but definitely rise to be a champion...
Yes, he is an investment guru and they know he knows his onions in that field. Each of them has their own strength. For example ,Adenike is good when it comes to fashion businesses
These are people very intelligent 🧠. You're expected to introduce every thing you need to say, before interrogating. And while interrogating don't say anything that you don't include while introducing your product.
@@josiahramseyokeleye3370 nah, I think that Paul, by default, does not want to invest in anything at all. So he is out even before you talk about your business structure 😀
It's just a branding business and to me the valuation is too high guess that's why the lions are all out also he's not running a business yet he just own a job But I think they should have offered some help even tho they can't invest.. Omo the lions are looking for good potential businesses to make more money for themselves simple. the guy should go to the bank and take small interest loan that's what he needs 😔
Lol. Lions have supported other businesses that were worse presented by their owners. I guess the money that Charles quoted was what made them decline. Notwithstanding, I believe Charles will make it eventually. He sees a need that he is trying to meet.
Omo this man was really pained he was still looking back to see if they would call him. These lions are really lions they will chop you raw, come prepared or go home
This was the most grilling but they centered him back, he needs to market this rice and grow this more organically that speedily as he desires. The valuation is also a turnoff... there's currently no brown rice company with such valuation
He should place himself on salary instead of taking money off the business. Once there is no limit to what he takes his business will be in trouble when big needs arise.
hmm.... this didn't play out well on both parties. He didn't communicate well and seemed to want to do many things at once. And they seem to be to a little too critical of certain aspects. I for one consider tagging his unstructured deduction from the profits for his upkeep as red flag to be unfair. A simple "you can't keep doing that.I advise you to put yourself on salary" would do. They should have spent their criticism on the business model itself. This episode was almost awkward.
Yea.. I didn't like their approach to this. He is a trader and not very structured in his approach, that's clear but his business is profitable. Moving from just trading to rice processing and storage is not a terrible way to spend the money (wouldn't be my first choice sha). He probably should have explained better and showed how that would grow his revenue.
I disagree, this is just a branding business. He should look more into sourcing for more rice farmers in other to have enough supply, storage for availability when the brown rice is off season & consider the possibility of export to the west as well as other African countries..
Lions don't invest in a business that is just in itself profitable if the person can't pitch how that business is profitable. They want to see how you manage resources to earn their money back(investment) so you don't fall short. If you can't have a model that best describes or addressees at least 90% of the questions presented then it's a problem.
Charles should have continue what he's doing rather than jump into production . He doesn't know what he want put himself into. I'm a rice miller and I see Charles know less about rice production.
There were too many redflags with his pitch on the rice, money isn't easy to come by so before making an investment on an entrepreneur you really need to do your check & balance. He wants to buy a land of 5million each, when there are cheaper lands in epe & Ogun state. He wants to buy machine for another business model, he was into oil & gas, interior deco etc..... He collects money from the business to feed. If he wants to sell that rice, he should partner with chefs influencing on social media
Was a great business idea, I would have offered him 50m for 51% of his company and make sure he makes proper changes to the company and work majorly on cutting cost and meeting demand. He could be doing 40% profit per year.
51% is tantamount to owning the business as a majority shareholder so that is nuts if u ask me...Probably 35% equity and another 10% in advisory shares is better.
@@kingsleyimiefoh899 that’s the plan to have the major stack so that no decision would be made without my go ahead because it’s obvious these newbies have a good business but terrible management and scaling
I think the young man's integrity is questioninable, he's not reliable based on the previous businesses he managed. He just want to be comfortable or should i say skipped the hard times in the business, which will later surface in near future. His accountability status isn't fair enough to me as well. trust me am quoting from experience.
I think the young man's integrity is questioninable, he's not reliable based on the previous businesses he managed. He just want to be comfortable or should i say skipped the hard times in the business, which will later surface in near future. His accountability status isn't fair enough to me as well. trust me am quoting from experience.
Ugly mistake in the Chukwuma Charles pitch was TAKING ANYTHING, ANYTIME from a new business, amazing business idea, nice presentation, but couldn't articulate how much he earn from his business is a grievous mistake many entrepreneurs make in the line of business. However, Rice business is a life time business in Nigeria. The consumption is very high and considering the increasing Nigeria population. His rice business will create more employment and make massive revenue in the nearest future. Bolaji Balogun should have offer him mentorship and work with him to grow the business. PAINFUL exit though. BEST OF LUCK Chukwuma Charles.
@@adenihunadewale9214 That is largely immaterial and not the crux of my comment. How about you come back with a more imperative rationale and do away with this one, which is indicative of a rather dull thought process
I am not particularly impressed at the way the Lions went about their reasons for not investing.. this is a viable business where a Lion can show support, invest and help this entrepreneur grow!
