Which business did Dragon Rachel Elnaugh found before appearing on BBC's Dragon's Den?

Rachel Elnaugh founded Red Letter Days before appearing as an investor on BBC's Dragon's Den.

Red Letter Days was an experience-gift company, offering customers activities and special occasions rather than conventional physical presents. Elnaugh established the business in 1989, and it became one of the best-known British companies selling experience vouchers.

Elnaugh joined the Dragon's Den panel for the programme’s first two series. Her background in building a consumer gift brand gave her particular relevance when entrepreneurs pitched retail, lifestyle and service businesses.

A common mix-up is that Red Letter Days later experienced financial difficulties and was acquired by Dragons' Den investor Peter Jones in 2005. That later ownership does not change the company’s origin: Rachel Elnaugh was its founder. The brand continued under new ownership after the administration of the original business.