Mo Bros on Dragons Den
Last year, brothers Keval, Kunal and Savan Dattani pitched their nascent beard grooming brand Mo Bros to the UK’s celebrity investors on Dragons Den. “When we entered, the dragons were all sat before us. Peter had his head down with a poker face looking at the floor. Tej smiled at Kunal, Deborah looked very stern,” Keval said. “We introduced ourselves as Keval, Kunal and Savan aka Unruly, Patchy and Scratchy and the atmosphere instantly changed.”
The nicknames were a nod to when the brothers attempted to grow their beards for Movember back in 2014, which set the wheels in motion for their beard grooming product line, Mo Bros.
This article was originally published on 19 June 2018.
After dealing with the poker-faced panel’s probing questions, the brothers waited to hear from their business idol Tej Lalvani’s response.
Tej Lalvani’s story resonated with the brothers; his background and success as a businessman, a family man, and name in retail.
The Dattani brothers left the studio after securing £150K from Peter Jones and Tej Lalvani for 10% equity each – a moment in Mo Bros history the three believe is just the beginning. Here they share more insight into their business plans and how they work.
Mo Bros company info – Founders & Turnover
Founders: Keval Dattani, Kunal Dattani and Savan Dattani
Company: Mo Bros
Turnover: £1.3 million
Mo Bros in a sentence
Mo Bros is a family owned business that creates high quality products and accessories to help men groom their facial hair.
Your business legacy
We want to be one of the main providers of male grooming products globally with a view to unite men through facial hair. In 2018, we’ll support even more charities in line with UN’s Global Goal Number 1 to reducing poverty.
Your business model
Our model is to expand our presence into international locations providing fast and efficient delivery to beard growers; running e-commerce shopping experiences alongside retail shopping stores. Providing price competitive and premium quality products that are catered to the mass market of men. Essentially being the big brother to beard growers all around the globe.
How do you measure success?
Success is measured by a return on investment through marketing campaigns, sales and impact we can have on the customer journey. If we can provide a reliable and effective solution to the customer, yet growing the business to provide more jobs, and promote great causes, this is deemed as success.
Disrupting the industry and being known to create an impact in the economic and public world is also a standard of success.
We plan to trade internationally, initially within European destinations. Finding distribution partners to market and sell our products alongside reputable online stores.
What technology does your business absolutely rely on and why?
The internet is the largest and most important technology we rely on in order to provide the best available service as it opens the horizon of people you can attract without actually having a physical presence.
In a world where we are time-constraint, sellers and customers require a platform to be able to use their time efficiently without spending time and effort where it could be better spent.
Your world in five years
We are looking for some international investors that can help us scale, we will be using their existing global network to slipstream into and scale our business. It will mean we have a physical presence in our top five European countries which are Germany, France, Norway, Italy and Spain and five international areas which are USA, Canada, India, Middle East and South Africa.
We see ourselves becoming a successful global business and the go-to men’s grooming retailer for beard, skincare and haircare.
Your highest point
Our biggest business achievement was the participate on the BBC programme Dragons Den and receiving one of the highest offers on the show within the last two years.
Your lowest point
We had no previous experience of setting up a company and it was extremely overwhelming at times, but our hunger to be successful and persistence was key in getting the business off the ground.
We believe the biggest setback to our business was not planning ahead.
We benefitted from rapid growth and by 2016, we were well into turning over seven figures, but we soon realised that we were missing the foundations of a business and struggled to scale up. We are now building the foundations by creating a strong team, systems and strategic partnerships.
What would tell your younger self
Hesitation in decision making can sometimes lead to slow growth or missed opportunities so once data is evaluated, to then go ahead and proceed with better decision-making authority.
Your policy wish list
Continuity in helping startup businesses through any opportunities available alongside funding for projects which essentially will help the economic growth of the country.
Your biggest piece of advice to other entrepreneurs
It’s important to know and research your market, set objectives and work backwards to make a plan to complete your goals.
Data-driven decisions are always the best.
Breakdown your work lists and start your day with the most valuable and difficult task. Remember it’s the small wins that lead to quantum leaps.
Trialing a diverse range of food all around the world and experimenting how tastes differ through different ingredients and similar ingredients but grown in local towns.
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What would make you a better leader?
To create and practice a better environment of effective communication, which includes suppliers, customers and staff members involved within the business.
Additionally, finding a mentor who has been through the stages of a business.
The one app you use the most
The mindfulness app, which creates a positive attitude towards the day.
A day in your life
The morning at home – From a good wake up call from an enjoyable alarm to spending immediate time preparing for the day which includes listening to good music. Followed by spending conscious time with family with a hot brew.
A day in the office – would include getting in an entrepreneurial work mode in order to maximise the potential (of the day).
This would be set up through Monday morning – Friday morning with board meetings to understand the focus of the week. Keeping the workload in priority order and ensuring that the implementation is taking place.
Evening – When the sun is shining, making the most of the opportunity to unwind, perhaps taking the family out for a stroll and experiencing new foods available!
To then catching up on the sports for some individual time in the evenings.
On your reading list right now
Become a Key Person of Influence by Daniel Priestley.
On your watch list right now
House of Cards, Dragons Den and The Apprentice have all been an inspiration to the various expectations of running a business.
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