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Dragons' Den Hosts Fight over Deal that Could Be Most Lucrative in Show History
Potential Revenue Could Exceed $150-Million
By: Marketwired .
Feb. 17, 2013 09:11 PM
TORONTO, ONTARIO -- (Marketwire) -- 02/18/13 --
(i)Editors: great speaker (available for interviews and call-in shows)
It doesn't happen often, but tonight on CBC's Dragons' Den, all five venture capitalists were fighting over one product that has a market potential of 50 million people in North America and projected revenues of $150 million. The product: enRICHed Academy, which teaches young adults how to earn, save and invest their money.
"We should have known a product involving money would interest Kevin O'Leary," said Kevin Cochran, co-founder of the enRICHed Academy, who faced the Dragons' in tonight's episode. "While our eventual goal is to increase sales in the Canadian and US market, the real reason we created the program was to stop young people from making financial mistakes, like the ones I made."
Drawing from their own financial experience, Cochran and co-founder Jay Seabrook created enRICHed Academy, a DVD-based program teaching young adults how to get rich and avoid debt.
On tonight's episode of Dragons' Den, Kevin O'Leary offered Cochran and Seabrook an intriguing package, consisting of his endorsement and a 10 per cent share in the company. With Lavalife co-founder Bruce Croxon also interested, it was eventually a joint venture involving Wealthy Barber David Chilton, Boston Pizza's Jim Treliving and marketing guru Arlene Dickenson that appealed to the enRICHed Academy founders.
All five Dragons' were interested in the enRICHed Academy program because the education and training industry is a multi-billion dollar industry in North America. The earning power of P90X, Tony Robbins and other now infamous training programs have paved the way for the Dragons' to realize this has the potential to be a huge moneymaker.
For more on CBC'S Dragons' Den click here.
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