Hi! I'm Dane Carlson, and welcome to the Business Opportunities Weblog. I've been publishing this website, by myself, and sometimes with the help of others for over twelve years now. You'll notice two things about this site right away:

  • We have tons of content. In fact, since November 2011, I've published more than 26,000 posts on thousands of different business ideas and opportunities.
  • We don't sell much advertising. In late 2013, I realized that by selling advertising, what I was really selling was my readers. In 2014, I've already radically cut down on the number of ads and will hopefully keep cutting.

Patrick Grant never realized that a discarded copy of the Financial Times would change his life. However, that is exactly what it did.

He was an MBA student, eating his lunch alone at University of Oxford’s Saïd Business School. While he sat there munching, he was drawn to an ad in the “Businesses for Sale” section of the discarded paper. What business was it? It was the well-known, 200-year-old Savile Row tailor business, Norton & Sons. He always had an interest in clothing, and this opportunity piqued his interest.

Mr Grant completed his EMBA in October 2005 and tied-up the purchase of Norton & Sons in December of the same year.

“The first two years were pretty darn difficult,” he confesses. “We had one tailor and one part-time cutter and I did everything else – the chopping out, trimming, bookkeeping, payroll, marketing, ordering and changing of the light bulbs.

“We tried to go back to doing the simple things very well, but it was slower to turnabout than I expected. However, since we’ve turned the corner it has grown much more rapidly than I had hoped.”

At the end of 2008, Mr Grant decided to reinvest profit in ready-to-wear business E. Tautz, another brand in need of resurrection, and he now manages a team of 12 across both enterprises. “It hasn’t been the most lucrative five years of my life, but certainly the most satisfying” he says.

Five years later, Norton & Sons – once tailor to Edward VII and Winston Churchill – has been restored to financial health and Mr Grant picked up the 2010 Menswear Designer of the Year accolade at the British Fashion Awards for reviving another men’s wear brand, E. Tautz.

Screenshot from Norton & Sons

About these ads

Originally posted by Angela Shupe on February 20, 2014 in History.

StumbleUpon


Related Posts

BluePromoCode - Fast, reliable coupons
import export business