Phil Pinder: I turned down £200k and built a spellbinding brand

Sound Advice: Entrepreneurs Unfiltered

In a world where magic and adventure come to life, Harry Potter fans have cast a spell of their own, creating a wave of business opportunities and immense growth.
Phil Pinder and Ben Fry found a way to capture this enthusiasm for all things wizardry and created their first business, The Potions Cauldron—a place where fans can immerse themselves in the universe and enjoy an enchanting brew or 2!
In June 2023, with a vision to scale, they took their business to Dragon’s Den and after being offered quite possibly the largest sum to date of £200,000, they simply refused to part with a third of their company and had no choice but to turn down Peter Jones himself.
But since then, they’ve been busier than ever, opening wizarding golf franchises and shops across the UK. Their mystical drinks are now stocked in Hamleys, HMV, and Center Parcs, and they've landed a deal that will help them to produce a million bottles per year.
So, the real question is, how did they do it? And how did they fund their expansion and confidently find their footing without the backing and mentorship of a Dragon? In this episode of Sound Advice, Phil tells us how they took this idea and turned it into a magical destination business.