Latest news with #CoolTowel
Daily Record
5 days ago
- Business
- Daily Record
Teenage boy set to make £100k after setting up business from bedroom
Harrison Nott, 15, launched the business from his bedroom in 2023. A teenage entrepreneur who set up a business from his bedroom is forecasted to make £100,000 in revenue this year. Harrison Nott, 15, juggles his GCSE studies with running his fledgling cold sweat towel company from home. He launched the product, CoolTowel, in 2023. It promises cooling relief through a simple process of wetting, wringing, and snapping the towel made from a three-layer polyester fabric that holds moisture efficiently. Harrison sells his products on TikTok shop and Spotify and claims he made £15k in sales during one particularly hot summer day. He said: "I've seen my dad running a business my whole life and I've always wanted to run my own, and have the financial control to do things for myself. I started my own first proper business at eight, reselling items on eBay." "It did ok and from there I've started loads of different start-ups, most of them failing and losing money on it. They've given me the skills I needed to start a new one." He credits the success of CoolTowel largely to its online presence. He said: "The first one that did well was CoolTowel in 2023. I put it on TikTok and Shopify. I saw 50 sales a day and since then its been scaling up and up." The idea for CoolTowel was born out of Harrison's passion for fitness and squash. He identified a niche in the market and aims his products at athletes, gym-goers, and anyone in need of a respite from the heat, reports Essex Live. Starting with a modest inventory of 100 towels in a box which he successfully sold, Harrison's business got a financial boost last year when his dad, Matthew, gave him with a loan to help with cash flow during the summer months. By July, Harrison says he celebrated his most lucrative day, raking in £15k in revenue, which led to a complete sell-out of his towel stock for several weeks. With guidance from his business teacher, Harrison trademarked his brand and by year's end, he had established a limited company - much to his father dad's astonishment. Harrison, who also represents the England Squash Aspire team based in Ipswich, said: "It's about building up a solid brand that people trust. Over the busy summer months, I was able to utilise my dad's warehouse but I do this mostly out of my own bedroom. "I record myself packaging up and post it on TikTok. I think its tangible for people to see the business owner do it - it's real." Despite making around £1,000 per day in revenue, the youth is candid about the various hidden costs he faces - including those associated with advertising campaigns and affiliate commissions. He aspires to mentor others on how to develop their own successful enterprises. He said: "I want to help people be their best self and launch their business if they want to or get that skill they want to learn. I want to see how far I can get with CoolTowel, maybe get an investment from Dragon's Den and get it into retail. "I think I can only go so far with it and long term I'd like to build up a personal brand and become well-known for being an entrepreneur. From what I can see, I'm hoping to scale past £100k in revenue this summer. I've forecast and projected that." Harrison, from Maldon, Essex, is keen on sharing his journey, having sponsored his own school sports day. His entrepreneurial spirit extends to his daily life, with branded school gear like a CoolTowel bag and phone case. He also donates CoolTowel products to charities that assist individuals suffering from illnesses and conditions that cause overheating. He's even planning to further his business knowledge academically by taking an A-level in the subject. Matthew, 42, sees a lot of himself in his son. "He's a chip off the old block. I admire his commitment to bettering himself and in whatever he does, squash or the business. "When he fails at something, he doesn't just say 'Oh I tried' - he works out where he went wrong. That is so important in life."
Scottish Sun
7 days ago
- Business
- Scottish Sun
I'll make £100k this year aged just 15 after starting my side-hustle out of my bedroom… I haven't even left school yet
The impressive teen started his first business at eight years old TEEN BOSS I'll make £100k this year aged just 15 after starting my side-hustle out of my bedroom… I haven't even left school yet Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) A SAVVY teenager has launched his own cold sweat towel business out of his bedroom - and is now expecting to break £100k in revenue this year. Harrison Nott, 15, juggles studying for his GCSEs alongside packing orders in his home and managing his own limited company. Sign up for Scottish Sun newsletter Sign up 8 Fifteen-year-old Harrison Nott is expecting to break 100k in revenue this year Credit: SWNS 8 The young entrepreneur set up a cold sweat towel company in 2023 Credit: SWNS 8 Harrison with proud dad Matthew Credit: SWNS 8 CoolTowel made Harrison £15,000 in one day during summer Credit: SWNS The young entrepreneur started CoolTowel in 2023 and has since scaled up his business - having sent out 15,000 orders. CoolTowel delivers cooling relief by wetting, wringing and snapping the towel with the three layer polyester material holding onto moisture. Harrison, from Maldon, Essex, was soon selling his wares on TikTok shop and Shopify - and was hitting £15k in one day at a summer peak. Harrison said: "I've seen my dad running a business my whole life and I've always wanted to run my own, and have the financial control to do things for myself. "I started my own first proper business at 8, reselling items on eBay. "It did ok and from there I've started loads of different start-ups, most of them failing and losing money on it. "They've given me the skills I needed to start a new one. "The first one that did well was CoolTowel in 2023. I put it on TikTok and Shopify. "I saw 50 sales a day and since then its been scaling up and up." The idea for CoolTowel was born from Harrison's passion for fitness and squash. I earn cash by selling 'actual rubbish' on eBay - I flogged a freebie I found on the floor by a bin for £10, it's crazy Frustrated with the lack of high-quality cooling towels in the UK, he has created a product for athletes, gym-goers, and those needing relief from heat. Committed to giving back, Harrison donates CoolTowel products to charities supporting individuals with illnesses and overheating conditions. Harrison began with 100 stock in a box and sold them - and in 2024 Harrison's dad Matthew loaned him money for cash flow over the summer months. By late July, Harrison hit his biggest day for revenue - £15k - and was sold out of towels for weeks. He trademarked his brand with the help of his business teacher and became a limited company at the end of the year - much to his dad's surprise. Harrison, who also plays for the England Squash Aspire team in Ipswich, explained: "It's about building up a solid brand that people trust. "Over the busy summer months, I was able to utilise my dad's warehouse but I do this mostly out of my own bedroom. "I record myself packaging up and post it on TikTok. I think its tangible for people to see the business owner do it - it's real." Harrison said he averages around £1k a day in revenue but there are many hidden costs, including with advertisement campaigns and commission for affiliates. Going forward, he hopes to be able to teach other people how to build up their own successful business. The schoolboy added: "I want to help people be their best self and launch their business if they want to or get that skill they want to learn. "I've made a lot of mistakes but now I've got the formula and the idea to scale the business up. "I want to see how far I can get with CoolTowel, maybe get an investment from Dragon's Den and get it into retail. "I think I can only go so far with it and long term I'd like to build up a personal brand and become well-known for being an entrepreneur. "From what I can see, I'm hoping to scale past £100k in revenue this summer. I've forecast and projected that." Harrison has even sponsored his own school's sports day and presented as assembly about his business model. He also has his own CoolTowel schoolbag and phone case - which he proudly wears to school - and plans to take business a-level. Dad Matthew, 42, added: "He's a chip off the old block. "I admire his commitment to bettering himself and in whatever he does, squash or the business. "When he fails at something, he doesn't just say 'Oh I tried' - he works out where he went wrong. "That is so important in life." 8 The businessman sells his product on TikTok shop and Shopify Credit: SWNS 8 Harrison said he mostly works from his bedroom Credit: SWNS 8 Frustrated with the lack of effective sweat towels he created a start-up Credit: SWNS
The Sun
7 days ago
- Business
- The Sun
I'll make £100k this year aged just 15 after starting my side-hustle out of my bedroom… I haven't even left school yet
A SAVVY teenager has launched his own cold sweat towel business out of his bedroom - and is now expecting to break £100k in revenue this year. Harrison Nott, 15, juggles studying for his GCSEs alongside packing orders in his home and managing his own limited company. 8 8 8 The young entrepreneur started CoolTowel in 2023 and has since scaled up his business - having sent out 15,000 orders. CoolTowel delivers cooling relief by wetting, wringing and snapping the towel with the three layer polyester material holding onto moisture. Harrison, from Maldon, Essex, was soon selling his wares on TikTok shop and Shopify - and was hitting £15k in one day at a summer peak. Harrison said: "I've seen my dad running a business my whole life and I've always wanted to run my own, and have the financial control to do things for myself. "I started my own first proper business at 8, reselling items on eBay. "It did ok and from there I've started loads of different start-ups, most of them failing and losing money on it. "They've given me the skills I needed to start a new one. "The first one that did well was CoolTowel in 2023. I put it on TikTok and Shopify. "I saw 50 sales a day and since then its been scaling up and up." The idea for CoolTowel was born from Harrison's passion for fitness and squash. Frustrated with the lack of high-quality cooling towels in the UK, he has created a product for athletes, gym-goers, and those needing relief from heat. Committed to giving back, Harrison donates CoolTowel products to charities supporting individuals with illnesses and overheating conditions. Harrison began with 100 stock in a box and sold them - and in 2024 Harrison's dad Matthew loaned him money for cash flow over the summer months. By late July, Harrison hit his biggest day for revenue - £15k - and was sold out of towels for weeks. He trademarked his brand with the help of his business teacher and became a limited company at the end of the year - much to his dad's surprise. Harrison, who also plays for the England Squash Aspire team in Ipswich, explained: "It's about building up a solid brand that people trust. "Over the busy summer months, I was able to utilise my dad's warehouse but I do this mostly out of my own bedroom. "I record myself packaging up and post it on TikTok. I think its tangible for people to see the business owner do it - it's real." Harrison said he averages around £1k a day in revenue but there are many hidden costs, including with advertisement campaigns and commission for affiliates. Going forward, he hopes to be able to teach other people how to build up their own successful business. The schoolboy added: "I want to help people be their best self and launch their business if they want to or get that skill they want to learn. "I've made a lot of mistakes but now I've got the formula and the idea to scale the business up. "I want to see how far I can get with CoolTowel, maybe get an investment from Dragon's Den and get it into retail. "I think I can only go so far with it and long term I'd like to build up a personal brand and become well-known for being an entrepreneur. "From what I can see, I'm hoping to scale past £100k in revenue this summer. I've forecast and projected that." Harrison has even sponsored his own school's sports day and presented as assembly about his business model. He also has his own CoolTowel schoolbag and phone case - which he proudly wears to school - and plans to take business a-level. Dad Matthew, 42, added: "He's a chip off the old block. "I admire his commitment to bettering himself and in whatever he does, squash or the business. "When he fails at something, he doesn't just say 'Oh I tried' - he works out where he went wrong. "That is so important in life." Do I need to pay tax on my side hustle income? MANY people feeling strapped for cash are boosting their bank balance with a side hustle. The good news is, there are plenty of simple ways to earn some additional income - but you need to know the rules. When you're employed the company you work for takes the tax from your earnings and pays HMRC so you don't have to. But anyone earning extra cash, for example from selling things online or dog walking, may have to do it themselves. Stephen Moor, head of employment at law firm Ashfords, said: "Caution should be taken if you're earning an additional income, as this is likely to be taxable. "The side hustle could be treated as taxable trading income, which can include providing services or selling products." You can make a gross income of up to £1,000 a year tax-free via the trading allowance, but over this and you'll usually need to pay tax. Stephen added: "You need to register for a self-assessment at HMRC to ensure you are paying the correct amount of tax. "The applicable tax bands and the amount of tax you need to pay will depend on your income." If you fail to file a tax return you could end up with a surprise bill from HMRC later on asking you to pay the tax you owe - plus extra fees on top. 8 8 8 8
