As a Business Navigator, I was delighted to be invited to join the Dragons Den at Trowbridge College with Business & IT Lecturer Julia Acklam.  The student’s assignment was to develop their ideas for a Dragons Den format presentation, for which they were filmed.  The presentation of the business ideas were excellent.  The students outlined their business ideas, and how they would be developed in a similar format to the TV program. Julia & I as the Dragons questioned their concept and how it would be executed.

In our Dragons role we questioned how did they identify a market? , where it could be sold ? and who was the customer audience ? how profitable could the business be?   Julia led the questioning, and I was focussed on how the product would be marketed to the candidates. We aimed to test their business ideas and how they thought they would bring them to market successfully.

The first candidate into the Dragons Den was Ollie, which was focussed on the production of honey which carries many health benefits, which he presented with confidence, and a dash of humour.  Key to Ollie’s plan was then, the genius idea of supercharging honeys benefits, by adding cannabis oil to the honey.

Cannabis oil health benefits are well-known, the effectiveness of cannabis oil on a series of conditions e.g., anxiety and depression, along with development in a wide scope of conditions is developing into a fast-growing industry.  Pain relief is a well-known characteristic of cannabis oil, there is promising research that diabetic conditions are seeing results too. Finally, further serious conditions like Alzheimer’s, MS and Parkinson’s are also in testing with cannabis oil to treat these complex diseases with positive testing results.

Ollie identified a market that promises extraordinary growth, reporting from the US market alone predicts a global marijuana market that is predicted to grow at a compound annual growth rate of 21.6% from 2023 to 2030.  

This would reach a worldwide valuation of USD 65.9 billion by 2030. Looking to the future Ollies business will navigate the legal/regulatory issues and make decisions about the markets his honey and cannabis oil product will serve. Social mores around cannabis oil, and its use have changed a great deal with social acceptance as to its use.

Ollie has addressed a market with a huge array of options, flexibility to cross markets, with a product having a phenomenal growth rate. His choices in terms of a growing market, with many market channels is inspired, and enables added options to serve complementary markets.