In 2013 I turned a £12,500 investment into around £500,000 revenue.
I preach until I'm blue in the face about launching lean and mean startups. Leveraging your skills and experience can be a great way to do this.
Where it started
- I grew up in a sandwich shop and then a buffet restaurant in Newcastle city centre.
- I was addicted to commercial operations.
- I was conditioned to work long, hard hours, and enjoyed it. We closed on Christmas Day, New Year's Day and Easter Sunday.
- I spotted a gap for well-priced clean meals.
How I launched on £12,500
So I:
- Negotiated six months rent-free on a city centre unit.
- Spent the first capital on a basic prep kitchen, a counter and a sign.
- Painted the walls black so I didn't need to spend money on menu printing.
- Used my first three months' turnover to repay the shopfitters from my working capital.
- Leveraged my social network to boost early traction.
- Worked seven days a week to keep costs down.
I had a queue from opening until close, and scaled into home delivery, meal prep and commercial events before a partnership and exit with a PLC.
Leverage your strengths, cut your capital
Hard work is always the key ingredient to success, but in my opinion, leveraging your strengths and reducing your capital investment is critical.
Real business owners make things happen. Don't wait on others. Don't rely on anyone.
Over a decade later, I still have the scars on my hands from cutting sweet potatoes, but I love them. I'm proud to have launched Newcastle's first healthy fast food takeaway. Take pride in what you do, and don't be afraid to look to your past for the answers.
You don't need a fortune to start a business. You need to use what you already have.