Fishy...20 Aug 2017 16:37
In 1986, keen anglers Martyn Page, now 62, and William Hill opened their first small fishing-tackle shop. By the end of their first day, they had sold just £20 worth of stock. The pair, who met while working for an accountancy firm, decided to target affluent anglers. Page had been making his own fishing kits since the late 1960s. As profits trickled in, Page and Hill snapped up two nearby shops and, in 1996, they opened Britain’s first fishing-tackle superstore.
Today there are 15 Angling Direct shops in the UK, generating pre-tax profits of £660,000 on sales of £21m. Three new shops are due to open in the autumn, catering to a £570m market in Britain employing 170 staff.
Main Competitor : Fishing Republic (FISH) - share price 40p