Red Deer entrepreneurs score Dragon's Den deal
A Red Deer-based business got a big boost on national TV Sunday night.
GoTire Mobile Tire Service was one of the investment opportunities featured on Dragons’ Den, a CBC program in which entrepreneurs pitch business ideas to a panel of business moguls. Owners Craig Howes and Heather Murphy received a favourable response from the dragons, with two — Kevin O’Leary and Bruce Croxon — agreeing to buy a stake in the business.
Launched in 2010, GoTire is a mobile tire-changing and replacement service. It also sells tires, performs auto detailing, and repairs and replaces windshields. Howes and Murphy appeared on the Dragons’ Den set in Toronto in April, but had to remain tight-lipped about the result until their meeting was broadcast.
However, they had hinted previously that the experience was a positive one, and even organized a broadcast party for friends and family on Sunday evening.
The couple saw their mobile tire-changing concept take off last year, with eight GoTire franchises sold.
Howes said earlier this month that an investment in GoTire by one or more dragons would give the business a financial boost that would help support such growth. But he also confirmed that the Canada-wide exposure on prime-time television should attract interest from prospective franchisees. He and Murphy have streamlined their franchise development system in anticipation of such a response.
Watch the episode here: