I actually started Sofa Bed Centres in 1985, two years before selling beds as Dreams. I started out selling sofa-beds, expanded the range to include beds, opened a few more stores and then from there realised that beds were the way forward and rebranded as Dreams. I had always wanted my own business and was always buying and selling things from home in my 20s. Just after I turned 30 the opportunity arose, so I just had to take the plunge.
Did you always want to be an entrepreneur or was this just an opportunity you spotted that you felt confident would work?
I think you‘re either an entrepreneur are or you aren‘t. My parents had their own businesses so the entrepreneurial spirit must have always been in my blood. I even used to buy and sell bikes at school, so I knew it was only a matter of time.
Our success is that we do one thing superbly well and not a number of things
averagely. There aren‘t many general furnishers out there nowadays so
specialising in one particular product – whether it‘s carpets, sofas or beds –
seems to be a more successful route
Dreams now offers virtually everything a customer would want in terms of their bed: mattresses, pillows and duvets, headboards, children‘s beds, even bedroom furniture. What was your initial offering and which of these elements are most popular and profitable for you now?
We started off selling sofa-beds, which we don‘t offer at all any more. Modern bedsteads (not the old fashioned type) are very popular at the moment. Interestingly, although bedrooms appear to be getting smaller, larger sizes like the six-foot Superking are becoming more popular. We now offer Britain‘s largest range of beds in all types and sizes, from adjustable beds to Z-beds and everything in between.
One of your selling slogans relates to the idea of selling a dream rather than just a bed. Isn‘t a bed just a place to sleep?
A bed is the most used item in your home and an average person spends over a third of their life in bed. Most people are born in a bed, die in a bed and almost everyone is conceived in a bed. Beds and mattresses also have both positive and negative effects on your health and can be a real place of refuge in times of sickness. To invest in a really good supportive bed will cost you less than 20p a night.
In almost 20 years the market has changed considerably. What do you regard as your greatest success during this period and what was the biggest challenge you‘ve faced? Was there a point where you thought it might not work out so well?
Our rate of growth has been our best achievement. There certainly have been difficult times but I have a great team behind me and we try to turn every problem into an opportunity. I always look on the positive side, get passionate and focused and any problem will normally solve itself.
How difficult was it to go from a smaller retailer to a national outfit with over 120 stores? How is the company doing now in terms of number of stores and turnover?
Dreams has grown in turnover by an average of over 30% per year for the past five years. We want to grow in regions throughout the country which needs a fair degree of planning and organisation but once the warehouses and delivery depots are in place, we can implement a store-opening programme fairly quickly across that region. For example, we are just moving into the Manchester/Liverpool area and hope to have a dozen stores there by Christmas.
How well do you know your customers? Do you appeal to people of all ages or are there a couple of key groups for you?
Our target market is anyone who can lie down! Everyone who sleeps on a bed will make a purchase at some time in their life so we really are appealing to all age groups. In reality, it‘s adults between the ages of 20 and 60 with a slight bias more towards females who usually instigate the decision to buy a new bed.
How has the internet helped develop the business?
We have been pleased with our website and we are about to launch into mail order, making us a fully multi-channel retailer. The internet is a useful tool in generating additional sales but there is no substitute for trying a bed in-store before you buy.
How hard is it to run an effective home delivery service? Did this give you an advantage over many other retailers when it came to ecommerce?
Delivery to people‘s homes is a challenge for all retailers nowadays; it is quite unusual for someone to be at home during working hours Monday to Friday. We offer a very flexible service with a two-hour delivery window and we also offer the option of delivering at weekends and in the evening. Again, it is down to service and the latest customer request that we have satisfied is taking customers‘ old beds away.
Have you ever thought of expanding beyond beds, possibly into sofas or even a total home furnishings store?
Yes, it‘s been thought of and we have even dabbled a little bit over the years but our success is that we do one thing superbly well and not a number of things averagely. There aren‘t many general furnishers out there nowadays so specialising in one particular product - whether it‘s carpets, sofas or beds - seems to be a more successful route.
Have you ever been tempted to sell up and try your hand at something else?
This is my most commonly asked question and the truth is that I love my job too much. I am passionate about the company, the staff, the growth and our brand and I wouldn‘t know what to do without Dreams.
Are you worried that having been involved for so long, both you and the business could become stale or jaded?
There is always a host of new projects on the go; if anything too many. Becoming stale or bored just isn‘t in our psyche. There is always something we can improve, change and do better: it‘s what keeps us fresh and keeps the job exciting.
What advice would you have for other entrepreneurs who think that they may have spotted a way doing something differently in the trade in which they already work?
If they want to take the risk - and they do need to understand that 90% of businesses fail in the first five years - then they need to do it and get it out of their system otherwise they will always regret it. It is a risk but there are fantastic rewards for the ones that are successful. But there is no easy road to fast bucks. There is an awful lot of hard work and long hours but if that‘s what turns you on, and you are not just doing it for the money, then write a plan and get started.
