A grandmother has revealed how she went from being £75,000 in debt to running her own business worth £1.5m.
Sarah Abel, from Folkestone, took out a £20,000 government loan in 2000 to buy a struggling hair salon in what she calls a “leap of faith”.
Today, the 60-year-old runs a hair and beauty training academy and another company that secures government funding for salons looking to expand.
But the mum-of-two and grandmother-of-four has had her fair share of setbacks, including her father taking his own life when she was seven years old.
His death left Sarah, her sister and her disabled mother in the care of her grandparents.
She left school aged 16 with no qualifications so she could look after her mum, who had MS, and worked odd jobs.
But she says her upbringing made her “resilient” to things not always going right.
Sarah’s mother died when she was 21 in 1985. She married her husband Andy and they started their own family, having Naomi, now 35, and Rhys, 33.
When she was 31, Sarah got her first break in business after being employed as a manager with beauty company Avon, where she rose through the ranks.
But Sarah says she had a “niggling feeling” deep down of what her next challenge would be.
“I wanted more and to build something of my own. I wanted something that would challenge me and allow me to leave a lasting impact,” she said.
“I also wanted freedom to be with my kids, to give them a stable upbringing.
“Having lost my own mum, I realised the importance of having a present parent – although, I wasn’t there as much as I would have liked to be.
“By the time I was 36, in 2000, I decided to buy a struggling nail salon after hearing the owner talk about selling up.
“I had no money, was in debt already, and spending money we didn’t have. We were living beyond our means.
“But I took a leap of faith. I secured a government loan for £20,000, which I didn’t know how I was going to repay.”
Within a few years, Sarah expanded to five salons and began to realise the potential of the beauty industry.
She also put a payment plan in place and paid off her £75,000 debt, while discovering government funding could be a useful tool.
“I had no idea that there was so much support available,” she said.
“I found out that I could access funding for training programmes and apprenticeships, and that’s when everything started to change.”
Sarah used the grants to open her first hair and beauty training academy, TNB Skills Training, which allowed her to offer courses for young people wanting to enter the beauty industry.
In 2020, she sold her salons to focus on helping other businesses secure government funding.
This came amid changes in the beauty industry following the pandemic and she saw an opportunity to shift her focus to helping other entrepreneurs.
She has now released a book – The Power Of Funding: In the Hair and Beauty Business – which details how to access government funds, and how to scale a business.
Her TNB Skills Training company was valued at £1.5m last year.
Sarah said: “At 60 and with four grandchildren, many might be considering winding down into retirement, but I feel the opposite – I’m just getting started.
“Everything now makes sense, from my childhood struggles to my entrepreneurial journey. It was all meant to be, and I’m finally living my purpose.
“I love what I do. I’m constantly learning, growing, and looking for new ways to make a difference – that’s something I will never tire of.
“My risk paid off in the end.”
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