Jewellery industry contestant, Charles Burns, planned to pitch a finance firm for jewellers to Lord Sugar on The Apprentice.
According to the Radio Times, Charles Burn of Burns Jewellers was going to pitch an idea based on his experience in the luxury jewellery and watch market.
Burns told Radio Times: “I’d seen in my family business and in other independent jewellers that cash flow is a major problem. The luxury watch market is booming at the moment and I was looking for a way to finance retailers to have this stock. Retailers want to look for somebody they can trust to make that purchase.”
While Burns did not manage to secure Lord Sugar’s £250K investment, he’s not too concerned about it and still plans to forge ahead with his business idea next year.
He told the Bury Times: “The positives I will take are that I got this far in the process, and the fact that Lord Sugar could have got rid of me earlier on, he obviously saw something in me and my business plan that he liked.
“I’m quite glad in some respects because I didn’t want to give away any equity. At the end of the day the £250,000 is not really what I wanted. Of course I wanted to have Lord Sugar’s involvement and credibility in my business but having said that it is a lot of equity to give away.”
For the rest of 2017 Charles Burns will focus on his family business, Burns Jewellers, which is celebrating its 120th anniversary this year.