A New Westminster-based circus business owner didn’t have all of the Dragons reaching into their pockets, but he did have some of them tearing up.
Travis Johnson’s moving story about the circus school he started a decade ago with his now-deceased dad, trampoline pioneer Aaron Johnson, garnered just one offer on the TV show Dragons’ Den, but plenty of accolades for his labour of love.
Johnson was asking for $200K for 20 per cent stake in his business, which includes the Vancouver Circus School, which has 13 per cent net profit, and the more lucrative circus performance troupe, called Inner Ring, which brings in a net profit of 25 per cent. The company’s total revenues were $775,000, Johnson said.
“Travis, I love what you are doing,” said Jim Treliving, co-owner of Boston Pizza and Mr. Lube. “I’ve heard of your family in Vancouver.”
Treliving said he couldn’t bring anything to Johnson’s business, but did say he’d love to have Inner Ring perform at an upcoming company convention.
During his pitch on CBC’s Dragons’ Den, a popular show that has entrepreneurs across the country pitching to a handful of savvy business pros in a bid to garner a financial investment, Johnson told the Vancouver Circus School’s story.
He started the business when he was just 24-years-old with his dad, who taught for Cirque du Soleil, was a Canadian national trampoline coach, and started the Family Services of Greater Vancouver's detached youth program, which helped New Westminster young people. Johnson’s mom, Valerie, owns a stake in the circus company. The former Team Canada trampoline coach is also the founder of the well-known local Shasta trampoline team. The Vancouver Circus School also has a location in North Vancouver.
During Johnson’s Den visit, David Chilton, who wrote the Wealthy Barber books, loved the pitch, but said the only way it would have any investment value for him is if it was a royalty payment.
“I don’t think your bottom line can allow for a royalty at the proper level, and for that reason I am out,” he said.
Vancouver restaurateur Vikram Vij also praised the moving father-son story, but said, “I don’t think I’ll be the best partner.”
Marketing maven Arlene Dickinson, who dabbed tears from her eyes during the pitch, also praised Johnson for carrying on, but said she was “out” on the investment.
Banker Michael Wekerle was the only Dragon to make an offer.
“I will give you the $200K for one-third of your business,” he said.
When Johnson didn’t pounce on the offer, Dickinson piped in saying, “Travis if you don’t know him he is one of the most well-connected humans I’ve ever met.”
“He’s the best catalyst you’ll ever find,” Vij chimed in.
Johnson stepped out of the room with two of his circus performers to talk about the offer.
“I’m just trying to figure out what my dad would want,” said Johnson, who maintained a stoic face during what was a tough presentation – especially given that his dad has passed just a year-and-a-half earlier.
Johnson took the deal on the show, but in the proceeding months that followed (the show taped last spring) nothing emerged from the deal. Instead, Johnson received $85,000 from other investors since he appeared on the show.
The pitch is just one step in the process, which also involves a lengthy due diligence proceedings for the investor and the company.
In the end, the pitch garnered media attention for the Vancouver Circus School, which pleased Johnson, who had never seen the TV show when he applied for a spot.
It was his girlfriend who encouraged him to go on Dragons’ Den. “My biggest concern was to make sure I represented my family (well),” he said.
His dad, Johnson believes, would have thought he did a good job, which probably meant more than the money.
