Starting a leisure business

Interview with...

Mike Petrouis
Age:
52
CV:
Owned and sold businesses
Business name:
Planet Ice
Goods/services:
Provides ice facilities, and various non-ice facilities such as small music and boxing events
Location:
Nationwide
Trading for:
14 years
Ice skating

Mike on how to run and grow a leisure business...

"We found as we were growing business clients were calling us instead of the other way around; local authorities, private entrepreneurs and people that might want to retire would get in contact.

"Most of our acquisitions have been with businesses in operation, we inherited their management and, in effect, have integrated them into our systems. We built two businesses and purchased the others, because the other companies had a company history it made the acquisitions and growth a lot easier."

I think my biggest challenge was transferring from running the business hands-on, to accepting the time had come to stand back and let the management team get on with it


On the challenges he faced...

"I think my biggest challenge was transferring my position from running the business hands-on, to finally accepting the time had come to stand back and let the management team get on with it. I think that was the single biggest learning curve.

"You’ve got to trust people and if you make mistakes you learn from it, shoot from the hip and make decisions. Don’t try and straight-jacket people into your little clones, stand back and let your employees grow."

On advice for entrepreneurs starting a business...

"I think there’s a time and place for everything, when you’re young you can learn from other people. You’ve got to identify a business, or place of work that’s going to educate you.

"I think entrepreneurs should work for someone else, learn and enjoy their work, then when they’re about 23 years old they can branch out."

 

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