“I bought a car to celebrate. I enjoy making money much more than spending it.
Sharon Keegan is the Founder and CEO of Peachylean, a body positive women’s athletic apparel brand known for colorful leggings that look like shapewear but are as comfortable as athletic wear. In 2021, Keegan secured a £100,000 (€114,000) investment in BBC show Dragons’ Den and she has just raised a further €750,000. The brand is sold here and abroad online, in Avoca stores and in a pop-up store in Dundrum city centre. The 40-year-old lives in Dublin 12 and has two children, Liam and Bobby.
What did you learn about money pitching in Dragons’ Den?
It made me see the value of smart money. Building your board of advisors and investors in the early days is the most important task as a founder and you need to think through all investment propositions when you start fundraising.
Are you personally affected by the current rise in inflation and energy prices?
Like every household, we make sure not to overload the heating and lighting.
We’ve invested in new blankets and throws for the furniture to keep us cozy on those winter evenings, and we’ve had our boiler serviced and radiators bled.
What was the most expensive place you have ever visited?
Pacha Ibiza. It’s insanely overpriced!
What did you learn about money growing up?
That there is an abundance of money if you have the right attitude.
My mother and father are both entrepreneurs. My father had a scarcity mentality, so he only invested in real estate and safe long-term investments.
My mother, who had a voluptuous mindset, always said, “You can’t take this with you.”
I have a bit of both mindsets; I take risks, but I don’t overspend on material possessions.
If I can pay my bills and give my kids a nice weekend, I’m fine. I enjoy making money much more than spending it.
Aside from real estate, what’s the most expensive thing you’ve ever bought?
A nice car to celebrate a business milestone.
And investing in a Dyson Airwrap – saves me a fortune in curly hair dryers!
What was your biggest financial mistake?
I once transferred €4,000 to an account in China using the wrong codes. I was in a veil of grief at the time and should not have been working.
I got it back a year later, but it was a great lesson to take time off when you’re not in your right mind. A break is really necessary.
Do you have a pension?
Would you buy Irish property now?
I already have a property here and am grateful for the purchase at a great time.
Now I would look to Spain or Italy for a summer home.
What was your biggest career mistake?
Worrying about what others thought of me. Fear kept me from striving for whatever I ever wanted in my life. Fear of not being good enough, not being articulate enough, not being skinny enough, not looking good have all plagued me for many years in both my career and personal life.
After years of not feeling well enough, Peachylean was born.
What was your best financial murder?
Peachylean has been my most rewarding business to date. I’ve started three failed businesses in tanning, skin care and food.
Are you better off than your parents?
I will never be as rich as my parents: they are the richest people alive as their wealth is not material or tangible but is very noticeable in their presence. You live a life that is comfortable and rewarding.
What three things could you not do without if you had to tighten your belt?
WiFi, coffee and training.
https://www.independent.ie/business/personal-finance/i-bought-a-car-to-celebrate-i-get-much-more-of-a-kick-out-of-making-money-than-spending-it-42268729.html “I bought a car to celebrate. I enjoy making money much more than spending it.