Mother and daughter entrepreneurs Judy and Freya Bass may have failed to secure investment from the Dragon’s Den team in last night’s episode, but the pair said they have ambitious growth plans for their luxury handbag restoration business without the help of the dragons.
The Handbag Spa, which restores designer brands such as Hermes, Chanel, Louis Vuitton and Mulberry, counts celebrities such as Coleen Rooney and several members of the Royal Family among its customers.
The dragons decided not to invest £60,000 into supporting the company’s plans to roll out international franchisees, saying a franchise is incredibly difficult to manage long term.
All five dragons on the BBC programme showed interest in investing in the Handbag Spa without the franchise element. However, the mother and daughter team decided to reject the investment offers.
Since their pitch on national television, the Harrogate-based business has agreed to lease bigger premises at Follifoot Ridge Business Park to cater for an increasing demand for luxury handbag restoration.
The pair said the new 1,900 sq ft site will allow the Handbag Spa to expand its team.
Managing director Freya, 22, said: “Pitching in front of the dragons was an unforgettable experience and we learned a lot from the feedback that they gave us.
“It wasn’t really about getting investment for us – although that would have obviously been a bonus – it was more about getting feedback for our business idea from incredibly successful business people.”
The pair have since decided not to pursue the franchises.