The Apprentice 2024 champion says it’s not ‘greedy’ to hike up prices immediately after winning-Sabrina Barr-Entertainment – Metro

The winner has been crowned (Picture: Ian West/PA Wire)

The winner of The Apprentice 2024 has been revealed, after being chosen by Lord Alan Sugar to receive the business magnate’s £250,000 investment.

Following the final of the BBC series, the enthusiastic entrepreneur is looking forward to expanding their small business, explaining to Metro.co.uk why the decision to increase their prices was not a ‘greedy’ strategy.

During tonight’s episode, boutique fitness studio Rachel Woolford went up against pie company owner Phil Turner at the final hurdle, with the finalists tasked with launching their business and presenting in front of a room filled with industry experts.

In the end, Rachel reigned supreme, resulting in Lord Sugar investing a quarter of a million pounds into her venture to expand her North Studio fitness business in the north of England.

Before the final stage of the competition, Rachel had to face some of Lord Sugar’s most trusted advisors analysing every last detail of her business proposal – and at times, facing intense criticism.

Following the assessment of her expansion plans for North Studio, the 27-year-old explained the changes that she decided to make to her business model.

Congratulations Rachel on the win! (Picture: Ian West/PA Wire)

‘Lord Sugar said to me in the final episode, is there scope to increase your prices? Obviously that will affect your margins, and Lord Sugar is all for bigger margins,’ she shared.

‘At that time, we were very much in line with the market where the pricing is. Because I have a small independent business and it’s a community, things like your prices, it’s a sensitive thing to do. Nobody wants to put their prices up when you’re a small business.’

Rachel continued: ‘But you know, in times like this you are forced to. We haven’t made a price increase in a couple of years now and it’s been very much in line with the market. We’re now at a point where price change you do you have to consider, because cost, everything has gone up.’

The Apprentice winner emphasised that a year ago, she would have felt ‘more afraid’ to have made a change such as increasing her prices – but, as she highlighted, ‘this is a business’.

Perhaps Rachel will welcome Lord Sugar for a fitness class one day? (Picture: Ian West/PA Wire)

‘This is a business decision. It’s not out of greed but this is a business and we have to work on margins.

‘So I think maybe being a little bit more sure of myself and knowing it is a business at the end of the day. Things like your price or your costs, I’ve always negotiated my cost to as low as I can and continuing to do that without feeling any form of guilt.’

As many viewers will know, The Apprentice typically films two endings for the finale, so even the finalists don’t know until way later which of them has won, and which has ended the series as the runner-up.

Rachel said that she only found out a week ago that she was the champion, revealing that it feels ‘overwhelming’ and ‘bizarre’ to be going into business with Lord Sugar after watching the programme for the past 12 weeks.

When asked if she’s had many one-on-one conversations since the result was revealed, Rachel answered: ‘I have only just really found out, that conversation wasn’t that long ago, so I haven’t had any conversations since then.

‘But that conversation was really positive obviously, he told me I was the winner and really looking forward to setting up a new site with him, which is what I went on to show to do in the first place.’

Phil and Rachel were thrilled to make it to the final after the interview stage of the competition (Picture: FreemantleMedia Ltd)

Now that The Apprentice has been going for almost 20 years, it’s inevitable that fans will compare the winner’s business to the endeavours of their predecessors, which include cake business owner Alana Spencer and skincare specialist Leah Totton.

However, Rachel stressed that she’s not trying to ‘compete’ against the past winners.

‘I’m very much in my own lane and I always have been,’ she stated.

I think for me, it’s just continuing to roll out what I’ve rolled out for the last few years, which is this small boutique fitness studio that offers inclusive classes that are fun and people go to socialise and be part of the community.’

She explained that her North Studio boutique fitness studio isn’t just about offering ‘your typical Monday gym classes’, as the company also ‘prides itself on being community-focused’.

The entrepreneur explained what’s going to set her fitness business apart (Picture: FreemantleMedia Ltd)

‘It’s great for mental and physical wellbeing, but it’s also good fun, and you’re getting enjoyment out of it,’ she said.

‘I think my and Lord Sugar’s focus will be to continue to roll out what’s already been successful, but in a new location. Our focus is high profit margins and I’ve been doing this for a few years now, so I know where we can save on costs. I know where we need to spend as well.

‘I’m really looking forward to doing this with somebody who…of course, he’s putting capital into the business which is amazing and it makes a huge difference to being able to open another studio, but it’s also having someone like his expertise on hand and his resources and his ideas.

‘Yes, I’m the industry expert in what I do, but he’s got years and years of business experience, which is invaluable to me.’

So does Rachel think she could get Lord Sugar or his advisors Baroness Karren Brady and Tim Campbell MBE into her studio?

‘Do you know I would love to have them all, but I think the only person I can persuade is Tim. Tim loves the gym. Lord Sugar likes his cycling, so maybe he’ll come and do some Pilates, because Pilates is brilliant for cyclists,’ she answered. Watch this space!

Next on the agenda for Rachel and Lord Sugar is to ‘get a third site locked in and launched’, after opening her studios in Leeds and then Harrogate in North Yorkshire.

‘The key thing, especially when you’re opening multiple sites, is making sure that you’re consistent with the service. People came to the Leeds studio because of the service we provided. We opened up a second site in Harrogate, which is in North Yorkshire. We have to copy that service,’ she explained.

‘I had new team members and it brings its own challenges. Now that’s successful, we’re now going to do that for a third time, but I’ll be doing it with Lord Sugar this time.

‘My key thing that I’ll always have my eye on is ensuring we’re consistent and whatever we’ve delivered at the previous two sites has to be delivered at the third site otherwise your USP is out the window.’

The Apprentice is available to watch on BBC iPlayer.

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