News

Sam Koffski saddles a Workhorse deal with Dragons' Den investor

Sam Koffski shows off a prototype of his Workhorse II, which attracted the investment attention of one of the Dragon’s Den millionaires Wednesday night on CBC. - Peter W. Rusland
Sam Koffski shows off a prototype of his Workhorse II, which attracted the investment attention of one of the Dragon’s Den millionaires Wednesday night on CBC.
— image credit: Peter W. Rusland

Dragons'-Den millionaire Arlene Dickinson called the Cowichan Legion Wednesday with good wishes for Workhorse II inventor Sam Koffski.

Her call followed Dickinson investing $75,000 in Koffski's adjustable, use-anywhere sawhorse/workbench brackets that could hit hardware stores — beside lumber displayed for Workhorse legs — by Christmas.

"I'm on cloud nine," Koffski, 82, said after Wednesday's national airing of CBC's popular Dragons' Den — where he stated he's from Duncan, B.C.

That's also when Koffski and son, Sid, pitched the Den's five shrewd dragons about breathing cash into his invention.

He struck a deal with Venture-capitalist Dickinson, in exchange for all rights to the Workhorse II, $75,000, plus a five per cent royalty on the wholesale price of units sold.

Considering his previous Workhorse sold about 130,000 units under Black & Decker in the late '80s, Koffski's cranked.

"There are two things I'd love to see: one is seeing the Workhorse II on the market; and if we make some money, that's great.

"Five per cent of the wholesale price would still be substantial."

His dream could come true.

A note on the Den said Dickinson has filed for a patent to take the Workhorse II worldwide.

She's also talking to Home Depot brass about exclusively harnessing the Workhorse II for a certain period, noted Koffski.

Drawings and a prototype have been sent to Chinese manufacturers for testing, he said.

After tool-and-die work, the Workhorse would head to production.

That's the goal of Dickinson who saw merits of Koffski's locking-bracket invention.

"You guys don't know anything " she quipped to the other four dragons who passed on investing Wednesday.

Snarky mutual-fund boss Kevin O'Leary was most leery of Koffski's invention without a patent.

"You have a problem accepting reality," he told Dickinson. "You're getting on my nerves. No patent — I'm out."

But Boston Pizza czar Jim Treliving was tempted to invest — realizing the Workhorse's huge potential U.S. market — but he backed away, with his blessing.

"You've got a good deal with Arlene who can help with Home Depot," he told the Koffskis.

"I'm happy to accept," Koffski told Dickinson.

We encourage an open exchange of ideas on this story's topic, but we ask you to follow our guidelines for respecting community standards. Personal attacks, inappropriate language, and off-topic comments may be removed, and comment privileges revoked, per our Terms of Use. Please see our FAQ if you have questions or concerns about using Facebook to comment.

You might like ...

VIDEO: Witnesses describe scene at Parliament Hill; Raw footage of Ottawa shootings
 
Loan your car to a drinking driver and pay the loss
 
ELECTION 2014: Taxes top issue in North Cowichan race
Some fallout after deadly shooting in Ottawa
 
Martin makes pins fall at a record pace at Duncan Lanes
 
Security stepped up in B.C. after attacks in Ottawa
Soldier killed in Parliament Hill siege
 
The Outdoor Guy
 
Inquiry slams door in face of First Nations groups

Community Events, October 2014

Add an Event

Read the latest eEdition

Browse the print edition page by page, including stories and ads.

Oct 22 edition online now. Browse the archives.