Entrepreneurs Judy and Freya Bass appeared on the new series of Dragon’s Den last night but today the duo is announcing exciting growth plans for their luxury handbag restoration business without the help of the Dragons.
Deciding not to invest £60,000 into supporting The Handbag Spa’s plans to roll out international franchisees based on their existing business model, the Dragon’s commented that a franchise is incredibly difficult to manage long term.
Realising the massive potential in the existing business, all five dragons showed interest in investing in The Handbag Spa without the franchise element, however Judy and Freya decided to reject any potential investment offers.
Since their TV pitch, the Harrogate based business has agreed to lease bigger brand new premises at Follifoot Ridge Business Park to cater for an increasing demand for their unique luxury handbag restoration.
The new 1900sq ft site, will allow The Handbag Spa to expand its team and provide extra space to increase capacity to cope with an increasing number of designer handbag and purse restorations.
Managing director Freya Bass said: “Pitching in front of the Dragon’s 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 businesspeople.
“Off the back of the feedback we received from the Dragons, we’ve decided not to pursue the franchises, we’re working on another business expansion concept instead. At the moment we’re not in a position to give anything away about it but needless to say, it was inspired by the feedback we got from the Dragons.
“The Handbag Spa built a reputation on trust, recommendations and quality service, and we’re excited to build on that at our new bigger premises. The site only goes to prove that we’re growing quickly and we’re looking forward to the new opportunities that the additional space at Follifoot Business Park will provide.”
The Handbag Spa was set up in 2012 by 22-year-old Freya Bass, straight after she left university. It restores designer brands such as Hermes, Chanel, Louis Vuitton and Mulberry.
The company is a firm favourite with the Royals and celebrities including Coleen Rooney. It has 80 agents and stockists across the UK, which means wherever you live there will be a dry cleaning agent that provides The Handbag Spa restoration service nearby.
Services provided include leather and interior cleaning, colour touch up, corner and edging repair, and it’s exclusive HBSpa™ Clean treatment which brings the suppleness back to dried out leather and cleans even the dirtiest of handbags.