An entrepreneur does not have to offer a fixed percentage of a business to make a standard pitch in the BBC television series Dragon's Den.
Contestants usually request a specific amount of money in exchange for a stated equity share, but the percentage varies from pitch to pitch. Investors then assess the valuation, financial evidence, growth prospects and the deal offered. A Dragon may make a counteroffer for a larger share or different terms.
This is sometimes misunderstood because many memorable pitches feature round numbers such as 10%, 20% or 50%. Those figures belong to individual negotiations, not to a programme rule applied to every entrepreneur.
The distinction also matters when comparing a requested deal with the final deal. A business may enter the Den offering one percentage and leave with a different agreement, or with no investment at all. The format requires an investment proposal, not one universal equity figure.