Rachel Elnaugh founded the experience-gift company Red Letter Days before appearing on the British television series Dragons' Den.
Red Letter Days sold vouchers for experiences rather than ordinary physical presents. Customers could buy activities and outings as gifts, helping popularise the experience-gift market in the United Kingdom. Elnaugh's business background made her a natural fit for the show's investment panel.
Elnaugh was one of the five original Dragons when the British programme began in 2005. She appeared alongside Peter Jones, Duncan Bannatyne, Doug Richard and Simon Woodroffe. Her business is often the quickest way to distinguish her from later female Dragons, especially Deborah Meaden.
Red Letter Days later experienced serious financial difficulties and entered administration in 2005. BBC viewers may therefore associate Elnaugh with both the company's early success and the public business setback that followed her first Dragons' Den appearance.