Dragons’ Den: The popular Ottawa donut shop has made a deal
A little creativity and a whole lot of determination turned into a popular Ottawa donut business, one that’s now being thrown into a new kind of spotlight after an appearance on the television series Dragons Den.
The last four years have been quite a whirlwind for Holey Confections, which has opened three locations across the city.
“When we first started, I didn’t know we’d go beyond one location,” said owner Samantha Armstrong. “But to grow to this size, we didn’t expect it to be honest.”
Recently, the hit spot aired on the January 11 episode of Dragons’ Den. The couple came in asking for a $500,000 investment in exchange for 10 percent of their business.
After some negotiations, they accepted a deal of $500,000 for 25 percent from ‘Dragons’ Vincenzo Guzzo and Manjit Minhas.
“Obviously, it’s better because you’re on Dragons’ Den and more people see it, but we don’t have a community behind us,” Armstrong said.
Owning a donut shop was never on their radar until a twist of fate sparked the idea.
“Covid-19 hit and on Thursday before the world shut down, I just got laid,” said her husband, Tyler Armstrong.
So the duo decided to turn lemons into donuts.
“We were worried about how we could provide for the family and we had traveled before and found a concept that we enjoyed,” said Tyler.
With no culinary background, the pair spent months perfecting their 140 layer donut before introducing it to Instagram.
“Sam did all the marketing and with the support of the community, we slowly grew month by month and here we are today,” Tyler said.
Now, with the support of not one, but two Dragons, there’s no telling how far their sweet creations will go.
“Some of these machines are over $200,000,” Armstrong said. “So we knew we needed to partner with someone who had the money and the experience to help us grow and expand, and that’s what we wanted, to expand.”
Since the episode just aired, Armstrong said the details of the deal are still being worked out.
“Because it just aired, we’re now starting to move things around and get everything going,” Armstrong said.
Their dream is to take the donut across the country.
“As long as you have the drive and the passion, I don’t think anything can stop you,” said Tyler.
Holey Confections has locations in Barrhaven, Orleans and Carleton Place.