Next to face the dragons is hair Technician Ola Goldsmith who's found That trying to build a business while Raising a young family has often left Her feeling like tearing her own hair Out Having kids for me was a big eye-opener I felt guilty for going back to work I Felt guilty for not going back to work I Kind of didn't realize that you could do It both I didn't realize that you could Be a badass Businesswoman and a mother Oh hair extensions I might need a hair Extension myself might change Perfection Tuka Get investment today the main thing that It would mean is somebody else believes In my business as much as me so I think To have that acceptance from a dragon Would be just amazing Hi dragons my name is Oda Goldsmith I'm So excited to be here today requiring 70 000 pounds In exchange for a 15 stake in my Business Naked weave is a hair extension training Academy Fitting weave hair extensions are Actually one of the faster techniques so Obviously they're more profitable However they were never really known for Being discreet So what I did is I completely upgraded
The way we fit weave hair extensions I completely hid all of these previously Visible connections and I upgraded them For a technique that is almost Undetectable So what we want to do is help hair Extension technicians worldwide to fit Hair extensions more discreetly So I now invite you for your questions I'm sure you've got loads I survived I'd actually like to have a look oh Please do Training in the art of applying seamless Hair extensions is the proposition on Offer from Ola Goldsmith she's asking For seventy thousand pounds in return For 15 of her business so how do you do That Well you have to come up with our Training courses ah right okay the Entrepreneur might be keeping her weave Secrets close to her chest but it seems That Deborah meaden has had a brush with This type of product before Hair extensions came into my life when I Did strictly I never imagined one head Could take so many hairs but they were Very much applied like this but yours Really are quite invisible so is it that The extension is different or the Technique is different so it's the Technique in which we apply them right And how much does it cost to so a
Location course for a customer would be 455 pounds Okay and can you describe where your Business is at the moment and also put Some numbers behind it okay so we are Into our second year now Um we turned over 192 000 in the first Year with a gross profit of a hundred And four thousand And a net profit of 36 000 and then the First seven months of our current year We have done 128 000 with a gross of 75 And a net of 2 000. got it I've got to Tell you year one from naught to 192 000 Well done you thank you Tidy turnover for a fledgling business Garners praise from Deborah meaden but Has Stephen Bartlett spotted a kink in The weave entrepreneur's business model So what happens if you teach me to be Amazing at this technique and then I say Do you know what I'm going to start Teaching people myself that becomes Quite self-destructive in the fact that The more people you train the greater The competition becomes I mean it's we've trained over a Thousand it's 20 months in and we've not Had that problem and I'm not worried About that problem I don't know why but It just doesn't scare me I just need to Focus on this brand How many technicians are there in the UK So over a thousand over a thousand yep
So basically what what you're really Saying is that if every technician in This country took your course at 400 Pounds you do 400 000 pounds Yeah roughly so that really tells you The size of the market even if you took A hundred percent is limited I think that we would train more Technicians we've talked about thousands Well I just agreed with me why you Nobody hold on I've asked you a simple Question how many technicians are there In the whole country So I would say [Music] I don't want to like take too much of a Stab in the dark but it'd be way more You should know this we I know we have Tried to research it but there's limited Information on it is it 5000 is it one Thousand is it no we found it'd be more Like 50 000.50 thousands So the way that I looked at the market Is even if we had a small percentage of Those and then the new ones that train Every year say this 10 000 even if we Had I think you're picking numbers from the Sky A breakdown in communication leads to Casulyman to lose confidence in ola's Understanding of the size of her Market Sara Davies wants to know if the Entrepreneur's business plan is any more
Robust What you're going to spend the 70 grand On so marketing I do the marketing Myself I'm not really a marketing expert Okay and so what does the dragon get in Return I'm just going to work harder than I've Ever worked before if I'm completely That's lovely but what's going to make Me go yes I'm going to invest in this Today because it's going to make me Millions Well I personally think that it would be Introduced in the sale of hair so we Want to not only teach them how to put The hair in but we want to sell the hair As well and that's when we're going to Be building up to make millions Um what's stopping you yeah introducing Hair now nothing really nothing Um we could go and get a bank loan and Introduce hair today but I just want to Prove myself that little bit more hold On hold on hold on you said I could just Go to the bank yeah borrow some money Yeah introduce hair yeah separately to That you said the big thing that will Really make money in this business is Introducing hair yeah so you can see Where I'm going Yeah okay I'm gonna be completely honest The only thing holding me back is I'll Just be nervous and I don't want to owe Loads of money out you said that's not a
Great answer because what you're Actually telling me is you're nervous to Put your neck on the line but you're Really happy to put my money on the line Me you've clearly identified yeah what Will make this business tick and you've Also said I could do it without you so What would you need me for I just think that oh I am on my own in this business Believe in me and also just On the journey a little bit I take my voice I'm quiet I don't know Why I've gone from like 10 10 seconds Take a deep breath I'll be okay I just Need to pull myself together What's up Oh no I look I think um firstly don't be Embarrassed for getting emotional so I Think your mind has gone so fast with The excitement of being in here that You're losing a potential opportunity For investment because you're getting Carried away And sometimes you have to pause as hard As it is because you've got one Opportunity and you never know one of These dragons could change your life Jones advises Ola to keep her eyes on The prize as she reveals her Vulnerability in the den Bartlett built a multi-million pound Business from his bedroom and he wants To Big up the aspirational
Entrepreneur's achievements so far I understand what it is to be a young Person with an idea and to go out and Create a business that did six figures In its first year is tremendous and You're an inspiration for Our Generation Because of that But I can't get my head around this idea Of training your competition I feel like That's kind of decaying your business Model And so you need a future product or Service that you can sell and the only Thing that you pointed out that I think Has scale and growth potential is this Hair 100 but you haven't done it yet no And you want to do it with my money So if it fails What are we left with we're left with This business which I think is decaying For the reasons I've stated but also It's not particularly growing very fast I promise it will grow I know it will as An investor I have to have evidence for That and unfortunately promises Aren't Enough For me it's not an investable business Okay and for that reason I'm going to Say that I'm out Stephen Bartlett doesn't share Roller's Faith in her firm's future and becomes The first dragon to walk away from the Deal but has Sarah Davies seen a Potential path to profitability
Pennies dropped for me now and I Understand what you need to do is you Need to build your brand so that then You've got the brand to introduce the Hair extensions that's what I want to do With the investment not by the hair Right the problem is it's not a credible Enough brand to be able to launch Product off the back of it okay and the Right point for you to take on Investment is when you can prove that You've got the brand So it's not an investable proposition For me today so I'm out Oh no I look I think the product looks Really good I think that you've got a Great business for yourself but I can Tell that you're lonely right and I and That's my sense I think you need help And support It might be that you need a mentor Rather than in my opinion an investor Right now And for that reason I'm gonna say that I'm out Hola yeah You're successful I don't know if you know that I just It's just so nice Thank you but unfortunately today you've Not convinced me that this is a two Three five million pound business So for that reason I'm not going to miss Them out
Kudos but no cash as three more dragons Decline a deal Deborah Mead and his own as only Remaining hope for investment Has the extension entrepreneur managed To weave any magic over the dense storm [Music] I think you've actually done really well And it's odd you have a very odd way of Not believing in yourself You know what to do with this business But you don't believe you know what to Do with this business you think you need Me to tell you that you're right to go Out and do the hair extensions There's one thing missing in you and That's your own self-belief yeah you've Got good instincts yeah don't let Anybody else talk you out of that but You're not investment ready So I won't be investing I'm out of you Good luck thank you you can do it thank You I know I can literally it's been the Day of a lifetime being here and it's Just a pleasure to be in front of you All thank you so much thank you Ola gets Praise and encouragement but all five Dragons cut and run from her hair Proposition and she leaves the den Without the investment she was seeking Being an entrepreneur can be a lonely Place yes it is amazing you could see That it is for everybody right every Entrepreneur especially at that stage
Yeah yeah I never really want to admit That I've got a tiny little bit of doubt I do want somebody else to just say yeah Yeah like what Deborah said but I needed To go and say to them this is the right Thing this will happen but I don't know Why I didn't It's one of them in it
