More With Moreira: The Business Podcast

Des Talks to Stephen Goodacre; A Story of Fish & Chips , Creating a Micro-Niche and Achieving a USP

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In this fascinating episode, Des is in man cave territory as he talks to Stephen Goodacre who shares his experiences, business journey and success as a fish and chip establishment entrepreneur. 

There is a  lot to be learnt from those who’ve already done it, we are sometimes short-sighted as business owners thinking that a different time makes it unique, when actually the challenges faced are similar. 

If you are a business owner reach out to someone who has come before you, there is much you can learn from others experience. 

  

KEY TAKEAWAYS 

  • What was it like starting a business in the seventies? 
  • It took a year to put together the finance 
    • The lending criteria was very different, the local bank manager knew everybody, and finance was based on what they thought of you, your character, your abilities it's now a form filling exercise 
    • The fish and chip business is a complex business because you are a manufacturer and a retailer 
    • Word of mouth was essential and if you had a good product people would come.   
    • What was the first thing you did to promote and market the business? 
    • We had a huge fish painted on the window;  it was a bold statement advertising the business 
      • There was at that time a residual culture around ‘training your customers to come when you are open.’ 
      • The landscape of takeaway food was completely different there were no other fast food outlets. 
      • Location was everything and after the purchase of a second shop, we focused on a corporate brand, a distinctive approach and extensive promotion. 
      • We asked what does the customer want? 
      • The idea of free promotion through the creation of stories and stunts to attract attention was hugely successful and facilitated a high profile for the business. 
        • Your business is only as good as your weakest link, we introduced formal induction and empowered our counter staff to be able to make a decision, to refund or replace when required, customer satisfaction is key. 
        • The best form of advertising is person to person - it is said that for every ten people you upset they will tell 12 others, but those who have a great experience will only tell 4 people. 
        • We introduced technology and formal training to systemise the business effectively. 
        • As a small business promotion spending equates to a significant amount of money and quantifying the impact of advertising is always challenging.   
        • Moving forward we realised that other fish and chip shops were not our competition it was other fast-food restaurants, this became our focus. 
          • Being the first fast food business to do various things such as gain an alcohol licence gave us a Unique Selling Point (USP) 
          • The principles for marketing the business are the same as for any business. 
          • The medium might be different, but the method is the same whatever the communication platform. 
          • If you can get the right combination of media, branding and promotion a business can gain traction and exposure much more quickly now. 

            •   

            BEST MOMENTS 

            ‘The targeting of a particular audience has changed everything. Previously it was the level of footfall that was key’ 

            ‘We were dealing with a local newspaper, now you can go on Facebook and get a worldwide audience’ 

            ‘Good news travels nowhere and bad news takes flight’ 

            ‘We created a micro-niche and our competition was the fast food industry’ 

              

            VALUABLE RESOURCES 

            More With Moreira Podcast 

              

            ABOUT THE HOST 

            I don’t know how this works, but you’re here now listening (hopefully) about my exciting life, so I’m going to try and make this worth your while. I never got inspired at school, I was too busy trying to impress my peers, chasing girls, 

            and being a fool to get inspired. I rejected school. But let me tell you something for free! That was a mistake! I spent the next 15 years in jobs I hated, with no direction, lacked purpose, and motivation for life. Yes, big words, but that was me in a box. A slave to the system! Fast forward to today, and well, I’m not sitting in my ivory tower or anything, but I love life and my career. Yeah, it’s both painful and exciting rolled and wrapped up into one giant subway, and who doesn’t love subway rite? The point is, you only get one life, don’t waste it pursuing things you care nothing for, invest in YOURSELF and grow as a person, be the best YOU by putting YOU first!   

              

            CONTACT METHOD 

            http://desmondmoreira.co.uk 

            https://www.youtube.com/channel/UCo6eVOt1YEQD0dxNkRXevVg/featured 

            https://twitter.com/Desmondmoreira 

            https://www.instagram.com/desmondmoreira 

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            More With Moreira: The Business PodcastBy Desmond Moreira