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…
The sale of EMPICS and our departure from the business coincided with a move to a new village. Knipton is at the centre of the Belvoir Estate – an area of 16,000 acres owned but the Duke of Rutland. The rural idyll is nice – but with so much private land, there are limited public […]
In the late 1980s, there was a transformation in the world of national newspapers. New titles, such as The Independent and Today came in to the market – and Rupert Murdoch fought the battle of Wapping to help rid the industry of some terrible, union backed practices (see “On the Wire – how many men […]
In the late 90s, there was a lot of pressure on photography agencies. It seemed likely that sports rights holders would lock out photographers – and create/sell their own photography. We pursued a strategy to work closer with these rights holders – and provide them with solutions that might benefit their business. Hutchison 3G had […]
The entry of Getty Images and Corbis (100% owned by Bill Gates) into the photography business in the mid-90s set us on a fairly inevitable course of a trade sale. Getting venture capital and angel finance on board at the end of the 1990s also dictated this route. It was a testing process. From 1997 […]
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 – […]