The Apprentice winner Rachel Woolford’s gym business has reportedly ‘never made a profit’ since its inception. After twelve challenging weeks, Rachel emerged victorious.
However questions have been raised about the profitability of her business. During her time on the BBC show, the Leeds-based gym owner, who was a popular choice among viewers for Lord Alan Sugar’s substantial investment, claimed to own two profitable studios in Harrogate and Roundhay.
She boasted of a “tiny site” that she said had netted her an impressive profit of “£250,000” during Thursday’s final. However, just twenty-four hours after her win against pie maker Phil Turner, Rachel is facing allegations that she may have provided inaccurate information about her business according to reports in the Mirror.
On Friday, April 19, a publication claimed to have obtained “figures filed this week with Companies House”, which showed R Nation Ltd, the company behind her gyms, as being “£336,346 in the red” in 2023, up from the £288,409 debt reported the previous year.
While many of the expenses could be accounted for by the purchase of gym equipment, R Nation Ltd has been valued at -£124,992 with assets. The Sun reports that Rachel’s representative “said the gym has no third-party debt” and remains confident it will turn a profit by the end of the year.
The 27-year-old inspired a generation of ambitious young women when she was chosen by Lord Sugar in what she described as an achievement “beyond (her) wildest dreams.”
Rachel Hardy, who only shot to fame in the third episode of this year’s series, quickly distinguished herself from her competitors with her composed demeanour and impressive negotiation skills.
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“I went into The Apprentice promising I would just be myself, and not turn it on in any way in front of the cameras, throw anyone else under the bus or be b*****”, she remarked, “I wanted to prove you don’t need to be the loudest voice and screaming at the others.”
Rachel has been a staunch defender of her business venture, North Studio, which she founded at the tender age of 23. The name of her boutique fitness studio is a nod to her Northern roots.
She proudly owns two gyms, with her inaugural location opening in Roundhay during the height of the Covid pandemic in 2020 – a risk that she now views as her most significant triumph.
Rachel hinted that her gym, which includes three fitness rooms, offered class-based workouts, from Box and Build to HIIT + Run, with prices ranging from £15 for a single class to £130 for a twenty-class membership. Other services at North Studio include holistic therapies and a ReFuel kitchen – the makings of a fortune.
But could Rachel be forced to abandon ship hours after promising not to walk out on Lord Sugar?
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