My Personal Rating: 90%
Status: Finished Reading
Well written autobiography by the man himself Duncan Bannatyne. In this book he describes how he made his first million and more from scratch. Having had an entrepreneurial spirit since he was a kid when he did paper rounds to save up money for his first bike he saw an opportunity in many areas, one of the most successful one that brought him his first million was care home business . He noticed that the government introduced a legislation Registered Homes Act in 1984, which stated that government would provide a flat rate of 140 GBP a week for every elderly person who needed looking after. He quickly did some calculations and with right amount of residents and occupancy figured out that he could make 33% profit on the investment every year. One of the biggest challenges was to raise enough money to make it happen. He goes into this in full detail in his book. He also tells in this book about his charity work in Romania and television.
Some of the key points picked up – using yellow pages to generate business, agreeing fixed rates with the contractors/suppliers, determination.
Most people have an idea for a business at some point in their lives, but hey don’t do anything about it – that’s really the only difference between entrepreneurs and everyone else.
Business, Duncan Bannatyne, Hotels, Healthclubs, Dragons Den, Jersey, Duncans Super Ices, Stock Market, Navy, Entrepreneurship, Unicef, Charity, Duncan’s Super Ices, Registered Homes Act 1984