Regular views of the show might recall Adam getting a grilling from the dragons after valuing his business – which operates as an online broker for individuals needing to send luggage to the UK and abroad – for a whopping £2million.
Adam went in asking for £100,000 for a 5 per cent share. This valuation, which was ten times the projected turnover, was it appeared the main reason why Adam left the den with nothing.
The other reason cited by the dragons was that his business could be copied or people could simply use the courier service themselves in order to have their bags sent from one country to another.
Despite failing to secure funding through the television programme, Send My Bag has since gone on to acquire investment through a local company, Lough Shore Investments. Having grown from a primarily UK student-facing service, Send My Bag now operates internationally as consumers are fighting back against extortionate fees to transport luggage overseas.
Punch’s remit will be to capitalise on this to boost the company’s profile in national, regional broadcast, consumer and business media. In addition, Punch will utilise its search engine optimisation expertise to raise the company’s profile online.
Adam Ewart, founder of Send My Bag comments: “I knew the appearance on Dragons’ Den would lead to increased publicity, but it was essential for this to be managed appropriately and strategically. I want to communicate our key message to the consumer that they do not have to put up with expensive costs for transporting baggage via air, and that Send My Bag offers travellers a more cost-effective alternative. The Punch team has extensive experience in traditional consumer and B2B public relations as well as the social search credentials to increase Send My Bag’s profile online and ensure we are able to stand out from the competition.”
Georgina Dunkley, Client Services Director of Punch Communications adds, “Send My Bag is an excellent business proposition, plugging a gap in the market for affordable baggage transportation solutions. It’s great to be brought on board by Adam and his team at such an exciting time in their business journey, ensuring the brand’s messages are conveyed appropriately to the media and that it stands out from its competitors online.”
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