In 1985, I was a 22-year-old press photographer in a well-paid and rewarding job at the Leicester Mercury. I had excellent colleagues – and a very comfortable life. However, it was not enough for me – and I wanted to work for National Newspapers and create my own business.
So I set out to create a photo agency in the East Midlands to provide pictures for National Newspapers. The business was called East Midlands Picture Services – and was based in Nottingham. In the next 20 years, the name would be shortened to EMPICS – and it would become the largest independently-owned sports photography agency in the world.
The business was to be a partnership with my best friend. Unfortunately, as we explored getting support from banks for our new venture the response was not particularly positive. My pal decided it was not for him, so we didn’t become business partners.
Eventually, I managed to get a £2,000 overdraft from Williams & Glyn Bank (now part of RBS). The business started in June 1985 – and 20 years later I left the business after a trade sale to the Press Association.
Looking back through some old papers, I found a copy of the original business plan. It’s linked to here as a PDF. Readers might find it amusing on many levels – the language, the fact it was individually typed (well before the time of wordprocessing) and that the cashflows are handwritten on graph paper (no Excel spreadsheets in those days!).
EMPICS was not a hi-tech startup – it ended up just being me on my own in an office in Nottingham. It was not a raiser of venture capital or seed funding (although as the business grew we did have 3i as a VC investor and a business angel). However, it was a leap into the unknown – and a roller coaster ride. To be recommended – to the brave…
I lived in a council house on the ring road in Liverpool (Queens Drive) – and had very supportive parents (although I might not have thought so at the time). I went to a Catholic Boys’ Grammar School, St Francis Xavier’s – I and was very religious (up until the moment I was 18 – […]
My life changed in 1997. Two young investment bankers – Jonathan Klein and Mark Getty – had decided that the industry they would like to consolidate was photo licensing. This decision proved to be a profitable choice for them – and made millionaires of many photo agency proprietors along the way. It was a stroke […]
It’s amazing how easy it is to take and send high-quality photos these days. You can pick up an iPhone, take a snap and with a couple of clicks send the image around the world. It wasn’t always that simple – here’s a tale from 1985 (just over 25 years ago) when taking and transmitting […]
In the autumn of 1994, I decided to “hang up my cameras”. EMPICS was growing as a business – and it needed me at base. I’d tried to bring in senior managers to take on my role – but that was not successful (probably my fault rather than theirs). I also felt it was time […]
I first heard the term “funemployment” back in 2009. There was an article in the LA Times that summed up the “situation” I was in after selling my business, EMPICS. It had been a challenge to give an answer when, in your 40s, and people ask politely what you do – or forms arrive that […]