Dragon slayer targets overseas growth

She’s described as the best ever candidate to enter BBC Dragons’ Den, wowing all five of the ruthless investors before walking away with more cash than she went in for.

Now Scunthorpe entrepreneur Sharon Wright is progressing her global plans with her inspired MagnaMole product after adding UK Trade & Investment (UKTI) to her growing list of supporters.

The 39-year-old single mum already has Duncan Bannatyne and James Caan on board as shareholders, with each Dragon investing £40,000 for a combined 22.5 per cent stake of her Talpa Products business. She is using UKTI to maximise their investment and tap into the lucrative export market.

“The Dragons’ Den experience was amazing and has given our UK operation a massive lift in terms of raising brand and product awareness and driving sales, accelerating the progress we’d already made,” commented Sharon. “But my goal now is to expand overseas and realise the full potential of MagnaMole as a product with truly universal appeal.”

MagnaMole, launched in September 2007, is a magnetic cable guide kit that provides a simple, effective solution to the age-old problem of threading cables and wires through cavity walls and voids. The kit is particularly useful for electricians and engineers, who thread cables on a regular basis, but the nature of the application means it could easily become a staple fixture in every household toolbox.

Sharon has already identified opportunities in America, but is keen to crack Europe while the retail framework there takes shape.

She continued: “I’m especially keen to work with UKTI to explore opportunities in Europe, using the Overseas Market Introduction Service (OMIS) to gain a footing and establish valuable contacts.

“I’m familiar with the service through my initial forays into the US, so I know what to expect and how I can tailor the programme to suit the needs of the Talpa Products business.

“Once I’m established in a given country, say Germany, I can target the likes of Spain, France and Italy. Although given the global appeal of MagnaMole and the positive feedback I’ve already received from all corners of the world, my export plans certainly aren’t cast in stone at this stage.”

UKTI international trade adviser Gareth Price is working hand-in-hand with Sharon to drive Talpa Products’ overseas growth. He commented: “MagnaMole is a fantastic example of a simple product that can completely revolutionise an every day way of working, and its export potential is huge – especially now that Duncan and James are on board as investors.

“The team has our full support as they take the business and brand into new markets, and I’ve little doubt that their global ambitions will soon be realised.”

To find out how UKTI can help your business, please contact an international trade adviser.