I recently worked with Graham & Green to look at how their shops were viewed by customers. Graham & Green is a premium, long-established homewares and interiors brand.
Were the shops, stock, service, staff, atmosphere and pricing attracting enough spending customers to justify their high street rents?
Was the website attracting a different clientele from the shops?
I am currently addicted to Fru's blackcurrant and raspberry mini pot, a delicious tiny fruity mousse-y confection, with the same calories as a yogurt. It cheers up my lunchtimes no end.
My thanks to James Averdieck, the founder of Gu and Fru. Here are the five things he says he wished he'd known when he started the business:
1. The importance of equity when considering funding/incentivisation. Equity is precious - don't give it away easily just because your business is worth nothing at the start. One day, if your business is successful, 1% of the business could be worth £300,000 - which puts a lot into perspective.