FT Start-Up Stories Series 3: How to thrive in a downturn 4/10
Oct 24, 2016
Gary Grant, the founder of The Entertainer toy shop chain, shares his journey from the skateboard boom to a thriving toy empire. He reveals how acquiring closed competitors' locations allowed for rapid expansion. Grant emphasizes that ethical, people-first management is the core of his success, fostering strong relationships with employees, suppliers, and landlords. He also reflects on surviving the 2008 financial crisis and how a focus on creating joyful customer experiences has been central to his rise. Discover how ethics can fuel long-term business success!
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Humble Start: Skateboard Parts To Toy Shop
- Gary Grant started by selling skateboard parts from a bike shop and pre-selling stock to customers on his day off.
- He built early cash flow by collecting in the morning and delivering the same afternoon, growing the business quickly.
Risking Home Equity To Buy A Shop
- Gary and his wife bought a failing toy shop by convincing Barclays to lend them £20,000 secured on a house they were buying.
- The first year's turnover rose from £30,000 to £100,000 and then to £250,000 within a few years.
Expansion By Filling Competitors' Voids
- When Zodiac Toys collapsed, Gary seized the opportunity to take over vacated shopping-centre space and expand rapidly.
- Landlord relationships let The Entertainer roll from single shops into multiple centres quickly.