Dragon's Den reject now making £4million

TV entrepreneurs were offered a stake in Approved Food last year.

A man whose business selling out-of-date food which was knocked back by the 'Dragons' Den' dragons is now turning over £4 million.

40-year-old Entrepreneur Dan Cluderay offered the Dragons a 10 per cent stake in Approved Food in May last year, in exchange for £150,000.

But Duncan Bannatyne, Peter Jones, Deborah Meaden, Kelly Hoppen and Piers Linney all turned him down.

Instead, Cluderay, from Worksop in Nottinghamshire, and business partner Andy Needham pulled together loans and investments of £400,000 from elsewhere, and are now running a multi-million pound company.

In turning Cluderay down, Bannatyne said: “I can't see it making a huge profit, and that's what it is, a breaking even business. Best of luck, I'm out.”

It's among a wealth of businesses to do well, despite not getting support from the Dragons, including child luggage company Trunki, the 'cup-a-wine' concept and the Tangle Teezer hair brush.

Approved Food sells items online that have passed their best before date to bargain hunters and busy households.

“It's all very exciting and we have lots of plans to take the business further,” said Mr Cluderay, who was made redundant from an IT company in 2001.

For the next six years, he began selling branded food shunned by supermarkets on market stalls in Hull, Leeds and Doncaster.

They then hatched a plan to launch online, and now has a warehouse in Sheffield with 50 full-time staff, dispatching 600 orders per day.

“There are only two dates people really need to know about,” he said.

“The 'best before' date which means that the food will be at its optimum before that date and acts as a guide to the quality, and then there's the 'use by' date which is concerned with the safety aspect.

“It's only the 'use by' date that means food has to be eaten by then or it could make you ill, which is the case with fish and meat, for example.

“Food is perfectly fine to be eaten way past its 'best before' date, as people know, but the large supermarkets won't do that and that's where we come in.”

Source: https://uk.tv.yahoo.com/out-of-date-food-business-turned-down-by-dragons--den-earns-%C2%A34-million-%E2%80%93-daily-tv-round-up-122301111.html