Teenager, 16, who ditched college to start his own business reveals how he's now making £750,000 a year selling TOWELS

A teenage entrepreneur who ditched college to start a towel business full-time has revealed how he is now earning £750,000 a year.

Avid squash player Harrison Nott, 16, first started CoolTowel in his bedroom in 2023 - with the hopes of creating specialist towels that provide instant relief from heat.

Relying purely on evaporative cooling, the towels are manufactured with three-layer polyester fabric. All the user has to do is wet the towel, wring out the excess and snap it sharply in the air before placing it onto the skin. 

What initially started as a distant dream soon saw profound success. Last year, Harrison won the Alibaba Concrete Pitch Event - securing a £150,000 jackpot prize after beating 15,000 contestants from across the globe. 

Rio Ferdinand, who was among the judges, was so impressed that he swapped numbers with Harrison - and has since become an investor in CoolTowel.

Three years on, business is booming for Harrison, who even managed to keep the company afloat during his GCSEs and now boasts a remarkable revenue of £750,000.

Recalling how important it was to secure the financial support from former England player Rio, Harrison said: 'At that moment it was a bit of a blur. I couldn't believe Rio Ferdinand had taken my number.

'This was during my GCSEs so it was a lot of emotions at once. I was a bit overwhelmed really. I was very excited and optimistic for how he could help. 

'Having that name backing the business is quite a significant thing so it was a no-brainer when he offered to spend his time on it.'

A few months after his contest win, Harrison met with Rio in London to discuss his vision for the business, and the former England player decided to come on board as both an investor and head of partnerships.

At the same time, Harrison was completing his GCSEs which he managed to pass, but he made the hard decision not to go to college and university as he has always planned.

He said: 'I really do value school, but me and my parents made the decision that it would be best for me to not go to college.

'It is like stepping away from the norm. Not going to college is burning the bridge.

'I think it is frowned upon in the UK to not go into education and go full-time into entrepreneurship.

'It is strange. All of my friends are going to college and seeing each other, and I am on a different path which was a bit sad but it was a sacrifice that had to be made.'

Not long after, Harrison flew to LA to meet with Rio where he met a whole host of celebrities, including James Corden.

When he returned, Harrison realised he had sold all of his stock in the space of just  two days - making £100k in revenue in one night.

He then started a pre-order function as they were selling more than they had, propelled by the continued UK heatwaves.

In one week, Harrison's company sold £600,000 worth of stock bringing their revenue this year to over £750,000.

However, things have not been entirely smooth sailing for the young businessman, with issues around TikTok shop cancelling orders meaning that he lost out on three months of the heatwaves, which he belives would have made him millions.

Scammers have also used his face in their adverts, with one managing to rake in 20,000 orders. 

And though he is doing very well in revenue, there are many hidden costs, including advertisement campaigns and commission for affiliates, which mean he is yet to turn a profit.

'It was all a punch in the face at once. It has been very good, with a very terrible last few months,' Harrison said. 

'The future is looking a bit brighter. We have got big plans.

'It is not just a business in my bedroom anymore, it is a brand that is helping people properly.

'It isn't physical cash in bank yet but I have got a lot of stock and assets. If we keep going we should break even.'