4-Small-Businesses.co.uk

Selling Books Turnover More than £100million
For Tim Waterstone

Name: Tim Waterstone.
Nationality: British.
Age: 52 yrs.

'Foolish' Idea: Selling books.

Start-up Capital: £6,000 of own money. Borrowed £75,000 under the Small Business Loan Guarantee Scheme and an extra £20,000 to top up.

How Idea was Launched: The start-up capital funded his first Waterstone's bookshop.

Sales: There are over 90 shops in Britain plus expanding chain in America.

Earnings: Turnover is more than £100million.

Tim Waterstone was chairman of W.H. Smiths American Company, until he was fired, because the company had lost a lot of money. So, Tim opened up the first of the Waterstone's bookshop chain.

He came from a typical lower middle-class family with absolutely no money, and had six children at the time of the sacking. Tim Waterstone took all the money he had, which was £6,000, and put it into the business. Borrowed funds of £95,000 added to his own money, funded the first shop.

Tim Waterstone has his own top ten tips to make a million:

Following these rules, Tim Waterstone has built up the Waterstone's bookshop chain and exceeded well over £100million turnover.




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