A businesswoman 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 products business and burst into tears when the panel said her idea was “appalling”.
The 52-year-old is the owner of Hair Made Easi and, during her speech to the dragons, asked for an investment of £80,000 in exchange for a 25% stake in her business.
After admitting he was making a net loss of £14,000 and that half the investment would be used to buy out his business partner, he failed to secure the panel’s coveted offer.
However, seven years later, Nicola’s business is thriving. She has revealed that she will turn over £1 million this year, while his products are used in 25,000 salons across the UK.
Nicola Wood from Bury says she cried when she was rejected from Dragons’ Den – but will now make £1million. Pictured on the way to Chicago.
Dragon Peter Jones (pictured) told Nicola her idea was “appalling” when he appeared on the show in 2017.
In an interview with Manchester Evening Newssaid: ‘Dragons’ Den was an amazing experience, although some of the comments were a bit harsh, I cried when I left there.
“I had no idea about business back then, so it taught me a lot and it gave me a fire in the belly to make it work because obviously I didn’t get any investment, but I’m pretty stubborn.”
During her appearance on the show in 2017, Nicola failed to impress with her ‘Easi-Weft’ hair extension holder, which she claims makes it easier to style hair.
But his speech did not go down well with the Dragons as he revealed that half of the £80,000 investment would be used to buy out his other business partner.
Peter Jones told her she couldn’t invest and said: “I don’t think that’s good Nicola, I think it’s dreadful actually.”
Nicola, speechless and visibly devastated, has just said: “Really?”
The mother-of-two revealed she cried after the brutal response, but tried to stay positive, telling the panel: “I’m going to keep going and make it an incredible success.”
Her words have now come true as she sells over 40 different products in over 25,000 salons across the UK.
Nicola failed to convince the panel and did not get the £80,000 investment she was asking for.
At that moment, Nicola was left almost speechless by the brutal rejection and visibly upset.
Jenny Campbell (left) and Touker Sulleyman (right) also said they were “out” but Nicola is now glad she didn’t invest.
Nicola added: “If I saw Peter Jones today I would probably shake his hand and say thank you so much for NOT investing.” If they had invested I don’t think he would be here now. I have achieved everything since then without any outside investment.’
While he typically reinvests profits back into the business, this year he made his first splurge on a first-class trip to Chicago.
Even at the time the show aired, viewer reaction was incredibly positive and Nicola said her website crashed due to incredible demand.
In addition to Easi-Weft, the entrepreneur sells ‘Easi-Bonds’, a tool that helps remove hair extension tape, and XL luxury towels to dry hair more efficiently.
Nicola, who lives with her husband Gary and has two children 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 at just 13 years old.
She has been working in salons for 35 years and is an expert in how to make hair styling easier for hairdressers.
Nicola, pictured at an International Women’s Day event, says her products are now available 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 is not the only businessman who has been successful despite failing to secure the Dragons’ coveted investments.
Other famous businesses that were rejected by the Dragons but made millions include Trunki, the children’s suitcase that made a fortune of £7 million.
Meanwhile, James Watt’s BrewDog pub chain is worth a whopping £1.8bn.
When they appeared on the show in 2009, they were seeking an investment of £100,000 for 20 per cent of the business, and the profits would have seen the hapless Dragons make millions.
Tangle Teezers are a drugstore staple, but not a single Dragon was interested when hairdresser Shaun Pulfrey appeared on the show in 2007.