Having spent almost three decades setting up and running various small businesses, some of which were successful and others not so much, Steve Poole knows better than most what capital, sweat and worry it can take to be your own boss.
After selling one of his businesses in 2012 and using the money to invest in a buy-to-let project, Steve decided that property investment was a path he wanted to follow and something he felt passionately about. He already had a couple of commercial properties under his belt and continued to expand his portfolio by purchasing two London flats off-plan. Despite experiencing a good rate of capital growth, the yields were relatively low and Steve realised that he had no real strategy.
“That’s when I decided to read everything I could lay my hands on about property investment,” said Steve. “I eventually I came across Steve Bolton’s book and when I got to a point where he discussed his ‘best worst moment’, it was a bit of a light bulb moment for me. I was away at the time and the day after we got back I contacted Platinum Property Partners (PPP).”
Steve attended a PPP Discovery Day in July 2014, taking a cynical friend along with him who he hoped would be able to give him a more objective view of the proposition. However, both of them were impressed by the concept, the people and the ethos and Steve found himself ready to sign-up.
Steve added: “Having set up a number of businesses myself over the years, I had some idea of the costs involved and the mistakes that can be made – I had made most of them! The idea of not having to spend shed loads of money re-inventing the wheel was one of my key motivators and I felt that the franchise fee, while not inconsequential, represented very fair value for money.”
Another key motivator for Steve was creating a legacy to pass to his children, Zoe (18) and Oliver (20). Both children have been involved in building the PPP business from day one.
Since joining in November 2014, Steve has just completed on his first house near his home in Reading, which he hopes to start refurbishment on as soon as possible with the help and support of the PPP mentoring team and process.
“I hear a lot of people say ‘you could do it yourself’, which you technically could and save on the franchise fee. However, I wouldn’t have ever got started and if I had, the first few hurdles and mistakes may have been too much to handle or afford! It’s good knowing you have a support network behind you every step of the way – the journey is certainly not as lonely or as challenging as setting up your business alone.
“I have now attended several events, including the National Workshop and my view after three months has only been enhanced. Every time I get involved with PPP and the network, I feel only good things have happened. This has only reinforced my view that joining was the right decision for me”, concluded Steve.