I cried after being rejected on Dragons’ Den when Peter Jones said my haircare business was ‘horrendous’ – but now I’m selling to 25,000 UK salons and I’m set to make millions
An entrepreneur who cried after being brutally rejected on Dragons’ Den has revealed she is now set to make millions from her business.
Nicola Wood, from Bury in Greater Manchester, appeared on the BBC show in 2017 with her hair product business and was reduced to tears when the panel said her idea was ‘appalling’.
The 52-year-old is the owner of Hair Made Easi and during her pitch to the dragons asked for an investment of £80,000 in return for a 25% stake in her business.
After admitting she had a net loss of £14,000 and that half the investment would be used to buy out her business partner, she failed to secure a coveted offer from the panel.
Fast forward seven years later and Nicola’s business is booming. She has revealed she is set to turn over £1m this year, with her products being used in 25,000 salons across the UK.
Nicola Wood from Bury says she cried when she was rejected on Dragons’ Den but is now set to turn over £1m. Pictured on the way to Chicago
Dragon Peter Jones (pictured) told Nicola her idea was ‘shaking’ when she appeared on the show in 2017
In an interview with Manchester Evening Newsshe said: ‘Dragons’ It was an amazing experience, although some of the comments were really a bit harsh, I cried when I got out of there.
‘I didn’t have a clue about business back then so it taught me so much and it gave me a fire in my belly to make it work because obviously I didn’t get any investment, but I’m quite stubborn.’
During her appearance on the show in 2017, Nicola failed to impress with her ‘Easi-Weft’ hair extension holder, which she says makes styling hair easier.
But her pitch didn’t fly with the Dragons when she revealed that half of the £80,000 investment would be used to buy out her other business partner.
Peter Jones told her he couldn’t invest, saying: ‘I don’t think it’s good Nicola, I actually think it’s appalling.’
A speechless and visibly cleansed Nicola just said: ‘You really do?’
The mum-of-two revealed she cried after the brutal feedback but tried to stay positive, telling the panel: ‘I just want to keep going and make it a fantastic success’.
Her words have now come true as she now sells more than 40 different products in more than 25,000 salons across the UK.
Nicola failed to win the panel and didn’t get the £80,000 investment she asked for
At the time, Nicola was almost speechless at the brutal rejection and was visibly upset
Jenny Campbell (left) and Touker Sulleyman (right) also said they were ‘out’ – but Nicola is now glad they didn’t invest
Nicola added: ‘If I saw Peter Jones today I would probably shake his hand and say thank you very much for NOT investing. If they had invested I don’t think I would be here now. I have achieved everything since without any external investment.’
While she usually reinvests any profits back into the business, this year she managed her first proper dividend on a first-class trip to Chicago.
Even at the time the show aired, viewer response was incredibly positive, and Nicola said her website went down due to crazy demand.
In addition to Easi-Weft, the entrepreneur sells ‘Easi-Bonds’ – a tool that helps remove hair extension tape, and XL luxury hair wrap towels to dry hair more efficiently.
Nicola, who lives with her husband Gary and has two sons aged 25 and 28, began her love of hair and beauty at a young age when she got a part-time job in a salon aged just 13.
She has now worked in salons for 35 years and is an expert in how to make styling easier for hairdressers.
Nicola, pictured at International Women’s Day, says her products are now stocked in 25,000 salons across the UK
During her appearance on the show in 2017, Nicola failed to impress with her ‘Easi-Weft’ hair extension holder
Nicola isn’t the only business owner to find success despite not landing the Dragons’ coveted investment.
Other famous businesses that were rejected by the Dragons but went on to make millions include Trunki, the children’s suitcase that made a fortune of £7m.
Meanwhile, James Watt’s BrewDog pub chain is worth a whopping £1.8 billion.
When they appeared on the show in 2009, they sought a £100,000 investment for 20 per cent of the business – and the return would have seen the hapless Dragons rake in millions.
Tangle Teezers are a drugstore staple, but not a single dragon was interested when hairstylist Shaun Pulfrey went on the show in 2007.