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Rehook inventor lands Dragons' Den investmentRehook Dragons' Den

Rehook inventor lands Dragons' Den investment

All five potential investors made offers to Wayne Taylor
by Simon_MacMichael
Mon, Sep 02, 2019 15:11
15

The inventor of Rehook, the tool that reseats the chain of their bike without getting their hands or clothing dirty, has secured £50,000 in funding on Dragons’ Den in return for a 25 per cent stake in the business from the show's Deborah Meaden.

Initially, the Dragons seemed reticent about whether or not to back the product as Norwich-based Wayne Taylor made his pitch on the BBC show last night.

He explained that he came up with the idea for the product after his chain shipped on his way to a meeting and he arrived with his hands and shirt dirty, and showed the Dragons how it worked.

Theo Paphitis seemed unconvinced of its benefits and literally got his hands dirty showing how easy it was to reseat a change the good-old fashioned way.

But his interest – and that of the other would-be investors – was piqued by the fact that the product has already achieved sales of £150,000 since its launch a couple of years ago and ultimately all five made offers.

You can watch last night's programme here on BBC iPlayer.

Taylor developed the business with his wife Anna Taylor-Maughan, both also having to juggle it with their full-time jobs, looking after their two children and doing up their home.

Ahead of appearing on the show, he said: “The product seems to have a real Marmite effect on people, so it could go either way in the Den.

“I feel our numbers are good, so it’s really going to be down to the what they think of the product. I’m a bit nervous to say the least!”

rehook
Wayne Taylor
Dragons' Den
Simon MacMichael

Simon joined road.cc as news editor in 2009 and is now the site’s community editor, acting as a link between the team producing the content and our readers. A law and languages graduate, published translator and former retail analyst, he has reported on issues as diverse as cycling-related court cases, anti-doping investigations, the latest developments in the bike industry and the sport’s biggest races. Now back in London full-time after 15 years living in Oxford and Cambridge, he loves cycling along the Thames but misses having his former riding buddy, Elodie the miniature schnauzer, in the basket in front of him.

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15 comments

Avatar
alan sherman | 4 years ago
0 likes

I wonder if park tools ever got a patent. I have a tire/chain-ger from the 90's:
https://photos.app.goo.gl/pt9pNmEdDssFCXyY6

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ktache | 4 years ago
0 likes

Did you get the indicators for a previous christmas/birthday?

What are they like?

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dave_t | 4 years ago
4 likes

Oh no, my other half watches Dragon's Den so I know what I'll be getting for Christmas. I think I would rather have a pair of socks, cycling or non-cycling.

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kingleo | 4 years ago
1 like

For the last 60 years, I have used a roadside twig.

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Dr Madvibe replied to kingleo | 4 years ago
0 likes

kingleo wrote:

For the last 60 years, I have used a roadside twig.

Me too. I wonder if it's the same twig.

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Stealth78 | 4 years ago
1 like

All my bikes shipped with the same technology, even better. I have those things called shifters, if the chain falls off, i click to make it back onto the chainring. Don't even need to get off the bike!

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Tom_77 | 4 years ago
0 likes

Disposable gloves, a few pence each or free with petrol.

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ktache | 4 years ago
0 likes

I have yet to see anyone using their indicators.  The website seems to be going still.

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Chris Hayes | 4 years ago
3 likes

Hmmm...there's a hook on many tyre levers that can be used for this very purpose: Park Tools for one.   I guess the lesson for the so-called Dragons (if they need advice from me) is stick to what you know.

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armb replied to Chris Hayes | 4 years ago
0 likes

Chris Hayes wrote:

Hmmm...there's a hook on many tyre levers that can be used for this very purpose: Park Tools for one.   I guess the lesson for the so-called Dragons (if they need advice from me) is stick to what you know.

The hook is more for hooking round a spoke to hold one lever in place while you use another. 
https://www.parktool.com/assets/img/product/_productDetail/TL-1.2_004.jpg

But it does indeed work for chain replacement too (though you potentially then get chain oil on your hands if you immediately have to use it as a lever and grip it as shown), and this is, at best, only slightly better than the hook (or a roadside twig like @kingleo).

kil0ran wrote:

At the price it could find a space in my saddle bag, particularly if it doubled as a tyre lever.

I had the same reaction when I first saw it a while back. If it doubled as a tyre lever, I'd consider it. But it doesn't. (If I ever get a 3D printer, maybe I'll try printing something similar but smaller that uses a lever as a handle to clip onto.)

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orbitgmx | 4 years ago
7 likes

Christmas is coming, your relatives will be scratching their heads about what to buy you, "ooh, that thing on Dragon's Den looks good..."

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Mungecrundle | 4 years ago
4 likes

I guess the business lesson here is to recognise what you can make money out of, not necessarily what might be of benefit to mankind.

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mattsccm | 4 years ago
3 likes

Just the sort of thingto be invented by someone who can't get his chain on without mucking up his shirt. Quids worth at the most. 

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kil0ran | 4 years ago
0 likes

At the price it could find a space in my saddle bag, particularly if it doubled as a tyre lever.

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burtthebike | 4 years ago
4 likes

How many are born every minute?  It used to be one, but now it's at least five.

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