UPDATE: Local couple scores deal on Dragon’s Den

Steve and Selina Elmy of Rack Stacker show off a couple of the products that helped land them a $500,000 deal on the Dragon's Den Wednesday night. MAKALA CHAPMAN/INQUINTE.CA

UPDATE: Local couple scores deal on Dragon’s Den

A couple from the Tweed area has walked out of the Dragon's Den with a huge deal.

Though it was recorded last April, the "Family Special" segment including Steve and Selina Elmy of "Rack Stacker" aired Wednesday night on CBC.

They were asking for $500,000 for a 15 per cent share of the business.

They did get a half-million dollar deal, but it was for 50 per cent (though Dragon business-partner Jim Treliving said he would decrease his share to 15 per cent once his money was paid back).

"It's been a very long wait," Steve said. "We weren't able to tell anybody, not even our families. But it's very exciting for us to say we landed a very big deal with Jim Treliving

There were some tense moments during the segment, with some Dragons saying the product wasn't in their area of expertise, and two questioning both the level of detail provided and the valuation of the company.

In the end, the Elmys found a partner in Treliving and also some positive feedback for their efforts in growing the business.

"The experience was kind surreal," Steve said. "The experience of bouncing information back and forth with the Dragons is to me a long of fun, nerve-racking but a lot of fun. Talking about our busineses on national TV was something we could share with the world and let people know we are available."

Rack Stacker is an international company that manufactures wildlife attractant products for both hunting and conservation use.

The company produces mineral supplements, feeds and more that can be bought at area stores including TSC, Canadian Tire, Wal-Mart and Bass Pro Shops.

Steve said the main focus of being on The Den was to find financial backing to help the company move into the U.S. market. He said he has just come back from a meeting in Chicago where he finalized a deal to do just that, namely into WalMart USA,

He said working with Treliving has opened doors both in Canada and in the United States.

"He’s obviously got a lot of contacts and we are able to capitalize on that now," Steve said. "I think he saw our passion for our product. And you don’t grow into big corporation across Canada like Bass Pro without having sound quality product and he knew that when he heard we with in those stores.

"Our biggest problem is being able to supply bigger volumne and now we are able to do that."

Treliving also provides a key entry point in a major part of the market, namely Texas, which Steve noted harvested more than two times the Ontario deer population last year.

"Jim talked a lot about Texas. He lives there six months of year," Steve said. "To have that opportunity to expand down into Texas and grow and ship our product down there has allowed us to open up doors that he knows."

With the company's new relationship with Treliving, combined with a long standing relationship with Shockey Enterprises and Eva Shockey, Steve says the sky's the limit for Rack Stacker.

"We see ourselves at $8-10 million in the next couple years expanding into the U.S. market," he said. W"e can take this to wherever we want over the next couple years. Just in the past year we have doubled and we are excited to see what happens next.

"We are excited to bring new products to the table and we have some new things coming down the line so we looking to be in for the long haul for everybody in the community."

For the full interview with Steve, see below. 

The full episode in which the Elmys appear can be seen on CBC.


Read More: Today's News, News, Quinte


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