Last Updated on: 16th March 2024, 07:07 am
In a remarkable episode of Dragons’ Den, Timeostat Ltd, spearheaded by landlord and innovator Anthony Cherry, captured the spotlight. Anthony entered the den with a mission: to secure an investment for the latest version of his pioneering landlord thermostat.
This notable presentation was a key moment for Anthony, as he sought financial backing to roll out new versions of his Time:o:stat device.
Anthony impressed the Dragons, renowned for their savvy investment strategies, with the Time:o:stat’s proven track record and potential. Reflecting on his journey, Anthony shared, “Being a huge fan of Dragons’ Den, walking through the lift doors was both exciting and terrifying! It is every entrepreneur’s dream to be pitching in front of the entrepreneurs, but I was definitely very nervous.”
The Time:o:stat has swiftly established itself as a premier solution for controlling heating costs in rental properties. Drawing from his own experiences as a landlord, Anthony pinpointed the issue of increasing heating expenses in his HMO student accommodations. Tenants leaving the heating on unnecessarily led to excessive energy use. In HMOs, where landlords bear the utility costs, these expenses could result in rent hikes for tenants.
Anthony recounted the issue: “Whilst carrying out routine maintenance at a property, I noticed a big problem. It was a hot summer’s day, the tenants were out, the heating was on full blast, and the windows were wide open. When I spoke to the tenants, they said the thermostat was too complicated. They had no idea how to set the different heating times, so they just left the heating running continuously.”
To tackle this, Anthony developed the Time:o:stat, aimed at helping landlords lower heating bills while providing tenants the ease of heating their homes as needed.
The initial Time:o:stat, designed for Anthony’s own rental properties, resulted in a 40% saving on heating bills and was met with tenant approval. Encouraged by this success, Anthony refined his invention for broader landlord use. The Time:o:stat has since won over more than 10,000 HMO and student landlords and found its place in Airbnbs, holiday caravans, and other serviced lodgings.
The UK-manufactured Time:o:stat Classic, which has clinched a HMO award, serves the student and professional HMO markets. Meanwhile, the upcoming Time:o:stat One, currently available for pre-order, is tailored for the Airbnb and holiday caravan guest segments.
Raised in Chesham and a graduate of Chesham Grammar School, Anthony wears multiple hats as a property developer, inventor, and certified podiatrist. For the past 15 years, he has run Cherry Feet, a popular podiatry clinic in Aylesbury. Anthony and his family, including his wife and three children, reside in Chesham Bois, in close proximity to their loved ones.
Catch Dragons’ Den Series 21, Episode 11 on BBC One, which aired at 8.00 pm on Thursday 14th March, or watch it on BBC iPlayer.
