young entrepreneur 21


How chickens and Lord Sugar led to the company that Jack built


Most successful businessmen that I interview have drive and confidence, can explain their operations simply, and have astutely considered the opportunities and challenges for their commercial future. Jack Greetham is no different, writes John Burbedge – except that Greetham is just 17 years old


Jack Greetham is the founder of Just Right Goods, an e-commerce success story that began two years ago with a £100 loan from his father, which is now generating a £110,000-plus business turnover.


It’s a trading performance that has also brought Greetham, currently studying for his A-levels at Gordon’s School in Woking, a £750 award and the 2013 Young Entrepreneur of the Year title in the competition staged by accountants Haines Watts.


Not that he is necessarily ‘in business’ for recognition or monetary rewards. “I’m in it for the vibe of developing the business. I take personal pride from the achievement, knowing that I have turned £100 into £100,000.”


That entrepreneurial spirit showed itself when, at the age of 11, Greetham began to sell his old Nintendo games on eBay. Then he added his entrepreneurial flair to the old chicken and egg conundrum.


His parents bought him six chickens for his birthday. They started laying eggs, and Greetham began to sell them. By the age of 12, he was selling six dozen ‘Cheerful Chicks’ eggs each week, in personally designed boxes.


“I see myself as a naturally creative person and wanted my product to be smart, professional and a little more special. Brand identity is very important.”


Then Greetham discovered that eggs from rare chickens, sold on eBay for breeding, fetch considerably more – up to £10 per egg. During his early teens, Greetham moved into rare breed chickens and, through his father, set up an eBay online business account.


While the chicken-egg business provided fun and early business experience, it was frankly ‘chicken-feed’ to what came next.


On a family summer holiday in France in 2011, Greetham read Lord Alan Sugar’s autobiography What You See is What You Get.


THE BUSINESS MAGAZINE – THAMES VALLEY – FEBRUARY 2014


Although Greetham credits Chiddingfold Primary School and Gordon’s for his interest and continuing education in IT, he believes the best learning comes self-taught. “You can find so much help and knowledge by Googling or using sites like YouTube. I’ve mastered Excel spreadsheets and gained Sage accounting skills through online tutorials.” He has also designed the Just Right Goods website – www.justrightgoods. co.uk


Greetham sourced his Chinese suppliers online too, spending two weeks researching before placing tentative orders using escrow


“I was 15, and suddenly realised that I could do more; by doing just what Lord Sugar had done when he was 15 – buying and selling different products for profit.”


Greetham’s ‘coming of commercial age’ inspired him to ask his father for the £100 loan to create Just Right Goods.


Greetham chose a market he knew: “I love technology, IT comms and smart products, and know how important it is for people to keep up with the latest product or e-fashion.”


Just Right Goods sells stylish leather, metal and silicone covers for iPhones and iPads, along with Android Tablet PCs, memory cards and smart accessories.


transactions. He sold his first 100 phone- cases within two months, and now has direct links with various manufacturers for more than 40 product lines.


“Sourcing your first supplier is one of the hardest jobs starting up.” But, so is the red-tape, Greetham adds. His father supplied the adult authorization and advice to help Jack set up formal banking and trading arrangements that meet HMRC requirements.


Incorporation of Just Right Goods came in April 2012. “I realised that with my rapid business growth, as a sole-trader, I needed the added security of being a limited company.” At 16, he became a main share- holding director of the company, along with his father and brother. Greetham owns 68%. “Enough, in case my family decides to make a hostile takeover,” he jokes.


Although the first year trading of Just Right Goods was profitable, Greetham reviewed individual product margins, stock levels and mailing costs to boost the return on his original £100 investment. “I believe in putting profits back and improving the business offering to customers,” he adds.


Greetham is currently looking at an innovative plan to reduce transportation costs for his existing products, while researching his market for fresh sales opportunities.


When GCSE exam pressures complicated his life, Greetham time-structured his days, made his business operations more efficient and achieved more customer transactions than the previous year. “I now do less work and make more money.”


“However, it’s important to get the right work-life balance. My bedroom has now become my office with a bed in it. I’ve been looking at building an office in the garden, maybe overlooking the chickens. I’ve already designed and costed it,” says this old head on young shoulders.


www.businessmag.co.uk


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