Popular Ottawa donut shop strikes a deal on Dragons' Den
A little creativity and a whole lot of determination has turned into a popular donut business in Ottawa, one that is now being cast into a new kind of spotlight after an appearance on the television series Dragons' Den.
- Sign up now for our nightly CTV News Ottawa newsletter
- The information you need to know, sent directly to you: Download the CTV News App
The past four years have been somewhat of a whirlwind for Holey Confections, which has opened three locations across the city.
"When we first started, I didn’t know we would grow past one location," said owner Samantha Armstrong. "But to grow to this size, we didn’t expect that to be honest."
Recently, the hit spot aired on the Jan. 11 episode of Dragons' Den. The couple went in asking for a $500,000 investment in exchange for 10 per cent of their business.
After some negotiating, they accepted a deal of $500,000 for 25 per cent from 'Dragons' Vincenzo Guzzo and Manjit Minhas.
"Obviously, it’s better because you’re on Dragons' Den and more people have seen it, but we have never not had a community that backs us," said Armstrong.
Owning a donut shop was never on their radar until a twist of fate sparked the idea.
The display case at Holey Confections in Ottawa. (CTV News Ottawa)
"COVID-19 had hit and the Thursday before the world shut down, I had just been laid off," said her husband, Tyler Armstrong.
So that’s when the duo decided to turn lemons into donuts.
"We were worried about how we were going to provide for the family and we had travelled a bit before and come across a concept we really enjoyed," said Tyler.
With no culinary background, the pair spent months perfecting their 140 layer donut before introducing it on Instagram.
"Sam did all the marketing and with the support of the community, we slowly grew month-over-month and here we are today," said Tyler.
Now, with the support of not one, but two Dragons, there’s no telling how far their sugary creations will go.
"Some of these machines are upwards of $200,000," said Armstrong. "So we knew we had to go with someone who had money and who had the experience to help us grow and expand, and that’s what we wanted, to expand."
Because the episode just aired, Armstrong said the details of the deal are still being worked out.
Samantha Armstrong restocks the donut display at her Barrhaven store Holey Confections on Jan. 27, 2024 (Katelyn Wilson/CTV News).
"Since it just aired, we’re now just starting to get into the swing of things and move forward with everything," said Armstrong.
Their dream is to take over the donut world nationwide.
"As long as you have the drive and the passion, I don’t think anyone is going to stop you," said Tyler.
Holey Confections has locations in Barrhaven, Orleans and Carleton Place.
CTVNews.ca Top Stories
'Most of the city is evacuating': Gridlock on Alberta highway after evacuation order in Fort McMurray
Four Fort McMurray neighbourhoods were ordered to evacuate on Tuesday as a wildfire gets closer to the city.
Sask. police seize 1.5M pieces of evidence, lay 60 more charges in child exploitation case
Saskatchewan RCMP have revealed that a historic sexual assault investigation has led to the discovery of alleged crimes against children dating back to 2005.
'Inappropriate' behaviour shuts down Dublin to New York City portal
Less than a week after two public sculptures featuring a livestream between Dublin, Ireland, and New York City debuted, 'inappropriate behaviour' in real-time interactions between people in the two cities has prompted a temporary shutdown.
Oilers starting Calvin Pickard in goal for Game 4 vs. Canucks
The Edmonton Oilers will start Calvin Pickard in net Tuesday for Game 4 of their playoff series with the Vancouver Canucks.
Chiefs kicker Harrison Butker rails against Pride month, working women in commencement speech
Kansas City Chiefs kicker Harrison Butker railed against Pride month, working women, President Biden's leadership during the COVID-19 pandemic and abortion during a commencement address at Benedictine College last weekend.
King Charles III unveils his first official portrait since his coronation
King Charles III has unveiled the first portrait of the monarch completed since he assumed the throne, a vivid image that depicts him in the bright red uniform of the Welsh Guards against a background of similar hues.
Full List Are these Canada's best restaurants? Annual top 100 list revealed
The annual list of Canada's top restaurants in the country was just released and here are the places that made the 2024 cut.
Alberta announces the 4 health agencies that will replace AHS later this year
The province has released more information on its plan to break up Alberta Health Services and replace it with four sector-based health agencies.
Biden administration moving ahead on US$1 billion arms package for Israel, AP sources say
The Biden administration has told key lawmakers it is sending a new package of more than US$1 billion in arms and ammunition to Israel, two congressional aides said Tuesday.