According to The Sun, the proposed programme has a similar format to Sky One's Badger or Bust, which saw Apprentice runner-up Ruth Badger attempting to revive struggling businesses.
If Wotherspoon accepts the offer, he will start filming the project for the BBC or Living later this year.
Alex confirmed: "I'm being really picky with the series ideas that have been presented to me. It has to be right."
Wotherspoon reached the final of Sir Alan Sugar's BBC One show earlier this year. Lee McQueen was chosen as the winner of the series.