Tom Charman – A new type of Young Entrepreneur

I met Tom at a network group and was impressed by his enthusiasm for the clothing business which he had just set up. “George Edwards” is a new type of enterprise which will sell high quality clothing to young people. Clothing which is classically designed but which is hard wearing and durable. He wants to bring British Heritage home.

His business model is based on a “community enterprise” principle which supports all of the stakeholders in the business and the local community. The profit margins are lower than if he produced his clothing in developing countries so his business will have to ultra-productive and competitive. Tom believes that his model is preferable as it promotes British business and British workers.

http://www.georgedwards.co.uk/

His clothing will not be made in a sweatshop so everyone who is involved with the business will see a fair rate of return for their efforts.

For a long time the British economy has been languishing in actual or near recession. The 2009 Financial crisis almost ruined our economy and those of the United States and Europe. We all know the history and the causes of the crisis and most of us have been affected by it.

The governments of the Western world, including our own, are pumping billions of dollars into our economies and it is slowly having an effect. But despite intense help from national treasuries and central banks we are still not out of the woods.

Many young entrepreneurs feel that there is the need for self help to pull us out of the economic doldrums.  Big business, big government and big finance have somehow failed us. It is time for small businesses and young entrepreneurs to take up the slack and fill in the big hole left in the economy by the recession.

This form of self help will promote a new form of enterprise to support and enrich all the stakeholders within the business. It will reward investors with a fair rate of return and make the young entrepreneurs millionaires rather than billionaires. It will help to generate community based businesses which will grow to provide a commercial and economic environment which is sustainable in the long term.

Tom is no isolationist and travels regularly to meet foreign business men and potential investors. He believes that his business model would work equally in a developing country.

Although Tom is apolitical he believes that community enterprises will attract support across the whole social and political spectrum. I am confident that his aims can be achieved with the support of all types of investors.

There is room for both big business and smaller enterprises in our economy, so let’s give Tom and his peers a chance and get everyone, young and old, back to productive and enjoyable work.

Tom has the right attitude and the generosity of spirit to make this a success for everyone. He has a subtle sense of humour and I suspect that he is in business not just for money but for enjoyment too; he wants to spread some of this enjoyment and enthusiasm around to help improve the wealth and health of the local and national community.

I have met Tom on a number of occasions and he kindly agreed to answer some of my questions.

Why did you decide to set up in business?

I have always had a passion for business. Even when I studied A-level business I knew I wanted to take what I had learnt and implement it in real life. After starting one successful small business I decided that it was time for me to come up with something different but which I still enjoyed. Fashion was the perfect mixture of both business objectives and personal ambitions. 

What is the balance between your business and personal life?

I am at Exeter University and president of Exeter Entrepreneurs and an ambassador for Bloomberg - so it takes up a lot of my time. However, I have a strong relationship with my girlfriend and close friends. I work and relax at the same time. Everything I do for George Edwards is enjoyable for me, so I’m able to balance everything well. Having a whiteboard with my jobs for the day really helps me!

What are your travel experiences?

I have done a lot of travelling across Germany, Austria and France, since I was young, to visit family. I speak German, so I love to visit Germany to practice my language skills and become bilingual. Germany is one of my favourite places to visit, as everyone has such a good attitude towards work and life in general.

Why did you decide to set up a “Community Enterprise” type organization?

I decided that giving back to the local community was something that should feature in whatever I did. To give back on a local level means that people are able to benefit so much more. I ran the 2011 marathon for Shelter, which was a difficult challenge, however I was able to give back to people that may be struggling for a number of different reasons. 

Who are your customers and markets?

I have 6 “avatars” that I aim to sell to. They range from university students, to people working in the financial industry and everyone in between, but by directly associating the clothing with universities it creates a real British varsity feel; something that is not only welcomed and accepted in the UK, but also America, Europe and Japan, giving me a huge opportunity for further expansion in the future.

What is your business model?

My business model works on a university scale. By focusing on a single university at a time, it means I can scale up to further universities when I am ready. As each model is associated with a particular town and university it means that each local charity benefits depending on the sales from each area. Everyone will benefit, depending on the demand for the products. Ambassadors at each university will show physical presence to customers. We will also be expanding through towns, by releasing specific limited lines aimed at the general public.

Why is your brand name “George Edwards” and why the Swan logo?

I wanted to associate the name and the logo with something personal to me. The logo comes from my family crest and the combination of the wellington boots comes from an establishment which was affected by the autumn floods in Exeter 2012. The swan is a very regal animal and George is a regal name – there will be a future King George VII!

Why do you believe yours is a better business model than sweat shop production?

Everything is made in the UK because of the quality. The UK used to provide a huge amount of high quality fabric manufacture. It allows me to control production and adapt products as well as reduce import costs. It allows me to support British manufacture, which is something that I strongly believe in. It’s better than manufacturing overseas as there are better wages for staff; it’s more ethical and far more sustainable. 

What is your relationship with your suppliers? 

They are good. I have a head designer who works directly with me in Nottingham. As demand increases, my relationship with suppliers also continues to grow. I am planning to purchase my own factory in the next 5 years, which means that I can control production, as well as continue to grow stronger relationships with suppliers of particular products. Creating relationships with my suppliers has taken a year, but I am now on good terms with them.

Where do you want to be in the short, medium and long term?

In the short run, I want to move into Oxford, Cambridge, and Bristol and continue to develop in Exeter. I hope to have a strong presence in these universities before moving into the town and into further universities. By year 5, I hope to have a strong presence in 18 universities as well as a presence in 30 towns with the more generic range in the limited collection. I am planning a much more developed product line and a flagship store in London. I plan to attend events by the end of year 1 such as Henley and Polo in the Park.

Why do you want to keep the business model a British affair?

Supporting Britain is the ‘in thing’ to do at the moment, but that’s not why I want to remain British. I want to bring manufacturing back to the UK, create jobs and stop us from relying on the services industry in our economy. I also want quality to remain high and prevent high import costs. By keeping it British I am also able to employ people at a local level and give back to local community. Being British is something that this business is all about as we don’t just want to produce British; we want to promote Britain.

What are the advantages to sourcing the business from British suppliers?

By sourcing from British suppliers, we build strong relationships within the UK and are able communicate effectively and easily. We also keep import costs down and support entrepreneurship on a smaller scale. Instead of going to large Multinationals we buy from smaller suppliers to try and promote and support small businesses. Although this pushes costs up, regarding manufacture, operating costs have been lower by using small companies. British suppliers are slower to respond to requests; however I found my relationships with British suppliers are much stronger than with other countries.

What are you offering to a customer that is different?

We are offering the British varsity look. Jack Wills and Ralph Lauren touch on it but nobody actually offers it. I am not trying to appeal to the mass market which is something that both Jack Wills and Ralph Lauren have no choice but to do; however, I realise my product is similar but with my brand you are buying into Britain, small business, community support and British varsity. We are also aiming to be at the forefront of clothing technology and are developing a number of means to do this. We are different because of what we offer outside of the high quality product itself.

Why the 3-year guarantee?

Products run a regression line that is continually exploited to benefit the producer not the consumer. We offer the 3-year guarantee (average degree length) because we want to show that the customer is at the top of our list, and our high quality products will not fall apart after 3 washes. Our products are guaranteed to last 3 years of gradual wear, without excessive pressure exerted on the fabric. Producers should not predict how long we should wear an item of clothing for.

How are you going to appeal to modern British culture?

Modern British Culture is targeted heavily around sport, music and lifestyle. Integrating Technology, using Social Media and through word of mouth will allow us to aim for a  modern market, but the use of technology, social media, and reporting on sport and changes in fashion and music will allow us to continue to appeal to the modern culture.

What about quantity versus quality?

As we grow, demand will increase so higher volumes will be required. However, by remaining in the UK there will be a higher demand for local workers. Continued growth through manufacture will mean that quality can still remain high. Keeping manufacturing in the UK will mean that although profit margins will be lower we are able to support local communities, jobs, charity and sponsored events to raise awareness for communities and for Great Britain as a whole.

What is the macro-economic effect of similar business models?

We are seeing a greater number of businesses adopt a similar business mode. Although they may not give back to community, they still produce on a smaller scale, and within the UK. If enough businesses do this, and provide community donation and support, we will see a huge difference macro-economically. The two obvious benefits are a more self-sustainable economy and higher levels of employment. However, we will need to promote economic developments in deprived areas, to create jobs, safety and security for the community.

Why the apolitical approach?

I take an apolitical approach, as I cannot directly support one government. I believe that economically there is little difference that can change an economy, and therefore by creating something on a small scale and supporting local communities, I am taking the choice to produce and give back. There are benefits for all parties by supporting British, however my focus is on a local level with regard to politics, as opposed to the international level so that the business has and will continue to develop over time.