I’m a billionaire gypsy who built my business empire from a caravan – here’s how YOU can make millions from nothing
BRITAIN’S infamous gypsy millionaire Alfie Best is a business phenomenon.
Having been born in a caravan on the side of a road, the 52-year-old now controls a commercial operation worth around £1.2billion.
Alfie, who recently splashed an astonishing £4.5million on a helicopter designed by Aston Martin, runs Europe’s largest residential park homes operation.
Wyldecrest has almost 100 parks across the UK under its company banner.
And Alfie, who is set to become a billionaire, also owns Vaaroom, the third-largest motor home rental company in the country, as well as a ticketing agency.
The dad-of-two from near Leicester, who featured on ITV’s Undercover Big Boss, says he’s regularly asked for advice especially when it comes to business.
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Here Alfie shares his sage advice with Sun readers for setting up a business from nothing.
He says: “As a gypsy I had no choice but to start from the ground up with virtually nothing in the bank and not much more in my back pocket.
“I took note of the wise words of the great American businessman Warren Buffett who famously said, ‘An idiot with a plan can beat a genius without a plan’.
Passion over cash
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Alfie says a business should be “about passion and not financial gain”.
He says: “If you set up something where you have an interest in the product or service provided you will be able to make a difference to your customers.
“If you’re emotionally involved, every hour you work will seem like only 15 minutes. Believe me, enthusiasm is the greatest motivator!
“I started, age 14, selling tarmac door-to-door with my dad. It was a tough start to my business life and I found it mentally draining.
I started, age 14, selling tarmac door-to-door with my dad… Then I switched to selling caravans and I was in my element
Alfie Best
“Some days I was running on will power alone, particularly as I had no interest in trying to flog tarmac. My heart just wasn’t in it.
“Then I switched to selling vans – and I was in my element. I enjoyed every minute of it.
“I knew exactly what my customers wanted. Who better to buy a caravan from than someone who grew up living in one?
“The days just seem to fly by – and I was making money too!”
Turning a hobby into a business
Alfie says turning a hobby into a business requires a change in your mindset in order to make it work.
He explains: “Most people saw caravans as a place to go on holiday. For me it was a way of life.
“That’s how my hobby, if you like, grew into this major business, selling caravans – and later – resident park homes.
“But you must never forget that there is a huge difference between a hobby and a viable, profitable business.
“Once it becomes a money-maker, forget about it being a hobby.
“That will need a massive transformation in your mindset. You have to make that change as it’s essential that you run your operation on a professional basis and charge for your services.”
Making a plan
If you’re trying to grow a business with limited finances, Alfie says the first place to start is to pull together a business plan and work out your cashflow, in terms of where it’s coming from and where it’s going.
He says: “The business plan will give you a good focus on where you hope to take your business forward.
“The cashflow will give you an understanding of monies coming in and going out.
“You’ll have a realistic idea of your profit margins, and whether by adding capital, you can expand cost-effectively.”
He adds: “It is important to grow your venture with the business plan and cashflow records in place.
“You are building a history of your operation which will make it easier in the future to gain funding from investors or banks.”
Common pitfalls
Alfie says the worst thing you can do is not managing your business plan and cashflow accurately, and risk overtrading.
He explains: “A lot of good businesses become insolvent due to overtrading, and that can so easily be avoided by dealing with your business plan and cashflow on a weekly basis.
“Don’t cut corners to try to save time or money and it will pay off in the end.
“I know; early on I tried to cut corners, but it never worked out.
“Follow and implement the plan and everything should fall into place from there, especially if you’ve got the vision, the product, the work ethic and that little bit of luck that everyone needs.”
Testing the market
Alfie says the most effective strategy to advertise your business is through word of mouth.
“Without doubt it’s the best way – and the cheapest too,” he says.
“Get out there and tell people about the brilliant customer service or product you are providing.
“Shout it from the rooftops. You must believe in yourself and your product or service, and not be shy about telling others just how good it is.
Don’t cut corners to try to save time or money and it will pay off in the end
Alfie Best
“And of course, these days, every business must engage with social media. It is the new marketplace.”
Alfie also advises researching and targeting potential clients who are likely to have an interest in your business.
“It is all about spreading the word. Customers need to see that you are knowledgeable and passionate,” he says.
“Do whatever it takes to make your voice heard.
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“You can certainly benefit from my marketing experiences over the years, some of which have cost me a pretty penny.
“I’ve tried everything from mainstream media to TV advertising and billboards, but believe me, you can’t beat good old-fashioned word-of-mouth endorsement. There’s nothing that sells better!”