Burlington’s Foli sows ‘slam dunk’ deal on Dragons’ Den
A Burlington woman has turned her love of plants into a $250,000 business deal with a pair of Canadian business titans.
Emily Wight, founder of e-commerce plant company Foli, appeared on Dragons' Den recently, looking for a deal to help her grow the budding business.
I'm so passionate about what we do," said Wight, in an interview with The Spectator. If it benefits Foli, I'm going to do it, even if I feel nervous and uncomfortable."
The mail-order plant company focuses on indoor tropical house plants in stylish pots. Each plant comes with detailed care instructions in an attempt to make things easy for those without a green thumb.
Wight recently told The Burlington Post that Foli began as a wild idea" around the dinner table three years ago.
She launched the company just months before the pandemic, which saw her packing orders for 12 hours a day while learning the ins and outs of the business - all while she was six months pregnant.
However, Wight's business quickly blossomed, a fact she has chalked up to more people looking to plants as a way for them to feel better at home during lockdown.
Foli soon outgrew its Waterdown space, forcing an expansion of its operations to a larger greenhouse in Millgrove and a 5,000-square-foot packing facility on Plains Road.
From there, the company has shipped out thousands of houseplants - both big and small - all across Canada. Think fiddle leaf figs, fishbone cactuses, pothos, jade plants and monsteras.
Wight headed into the den looking for a $250,000 investment in exchange for a 10 per cent cut of her company, giving her business an estimated value of $2.5 million.
However, her pitch, which included plants and personalized notes being hand delivered to each of the Dragons, wasn't immediately met with a panel of green thumbs up.
But within minutes of talking up her brand and breaking down the numbers, Wight managed to make headway.
You're the real deal," said veteran Dragon Robert Herjavec. You're full of energy, you're humble, you're experienced - it's fantastic."
But there were still questions from the Dragons about the value and profit margins of the business.
I've truly put my head down and figured out this business from day one," said Wight, speaking to the panel and explaining the company's potential. I'm savvy, I'm hungry, I'm competitive - we are ready to grow and be that household name."
That's when the full sweep of offers hit the table - yet, it was a collaborative agreement forged between Arlene Dickinson and Michele Romanow that rose above the rest.
It was like they read my mind," said Wight, noting that she has long admired the drive and tenacity of the pair. To have them team up together felt like a slam dunk."
Wight left the den with a deal for a $250,000 investment in exchange for 20 per cent of her company - as well as a couple of tears welling up in her eyes.
That investment will allow the business to get professional expertise on marketing as well as expand its current slate of offerings, she noted.
The response to the successful segment has been very emotional," said Wight, who hosted a viewing party for the episode at her facility. She's also received many messages from family, friends and customers.
Everyone has embraced what I've done and it just feels really special," she said. Being an entrepreneur is fun, but more times than not it's really challenging ... so this is one of those really high moments for me."
With files from The Burlington Post
Fallon Hewitt is a reporter at The Spectator. fhewitt@thespec.com