Last evening, Timeostat Ltd, an inventive thermostat firm founded by the entrepreneur and landlord Anthony Cherry, made waves on Dragons’ Den. Anthony stepped into the den to seek investment for his groundbreaking landlord thermostat’s new model.
This significant appearance on the show was a pivotal moment for Anthony, who aimed to secure funding to introduce fresh variants of the Time:o:stat.
During his pitch, Anthony demonstrated the Time:o:stat’s success and its promising future to the esteemed Dragons, known for their sharp business insights. Reflecting on his experience, Anthony stated, “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 quickly become a go-to solution for managing high heating expenses in rental properties. As a landlord with first-hand experience, Anthony identified the issue of escalating heating costs in his HMO student properties. He observed that tenants often left the heating on while out, leading to unnecessary energy consumption. Since landlords typically cover utility bills in HMO setups, these costs would inadvertently lead to higher rents for tenants.
Highlighting the challenge, Anthony mentioned, “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.”
Recognising the need for a landlord-friendly thermostat, Anthony crafted the Time:o:stat to cut heating costs while ensuring tenants could easily heat their homes when necessary.
Initially designed for his own properties, the first Time:o:stat model led to a 40% reduction in heating bills and positive tenant feedback. Motivated by this success, Anthony refined his invention, making it available to other landlords. The Time:o:stat has since gained popularity among over 10,000 HMO and student landlords, and is also used in Airbnbs, holiday caravans, and serviced accommodations.
The Time:o:stat Classic, produced in the UK and recipient of a HMO award, targets student and professional HMO sectors. The upcoming Time:o:stat One, now open for pre-orders, is ideal for Airbnb and holiday caravan guests.
Anthony, a Chesham native and Chesham Grammar School alumnus, balances his roles as a property developer, inventor, and qualified podiatrist. He has operated the well-regarded Cherry Feet podiatry clinic in Aylesbury for 15 years. Anthony resides in Chesham Bois with his wife and three children, surrounded by friends and family.
Dragons’ Den Series 21, Episode 11 was broadcast on BBC One at 8.00 pm on Thursday 14th March and is available on BBC iPlayer.
