From selling conkers to founding Homeserve
Richard Harpin, the co-founder and chief executive of Homeserve, the home repairs and improvements company, has just become one of the richest people in the UK. His net worth has crossed £4bn after his company agreed to a £4.08bn takeover by the Canadian investment firm Brookfield Asset Management. But how did he get there?
Harpin’s entrepreneurial journey started when he was a schoolboy in Newcastle. He sold conkers and sweets to his classmates, and later imported and sold Christmas trees from Norway. He also launched a mail order fishing tackle business with £100, which he advertised in a magazine.
One of his most memorable ventures was a business called Hookers, which sold feather earrings through hairdressing salons. The catchy slogan “Hookers set to hit the high street” got him coverage in The Sun newspaper, but also landed him in trouble with his headmaster. However, his mother defended him, saying he would be a millionaire before the headmaster. She was right.
Joining Procter and Gamble and spotting an opportunity
After graduating from York University with an economics degree, Harpin joined the household goods giant Procter and Gamble, where he became the brand manager for Vortex bleach. He learned a lot from the company, but he also felt frustrated by the bureaucracy and the lack of innovation.
He decided to leave and start his own business. He spotted an opportunity to sell insurance for water pipes, which were often damaged by tree roots and freezing temperatures. He teamed up with South Staffordshire Water, which agreed to promote his service to its customers. He called his company Fastfix, and later renamed it Homeserve.
Expanding into new markets and services
Harpin’s vision was to create a “one-stop shop” for home repairs and improvements. He expanded his business into new markets, such as gas, electricity, and drainage. He also entered new countries, such as France, Spain, and the US. He acquired other companies, such as Checkatrade and Elocal, to offer more services to his customers.
Harpin’s strategy paid off. Homeserve grew rapidly, becoming one of the largest and most successful companies in its sector. It now has more than 8 million customers, 7,000 employees, and a network of 15,000 tradespeople. It also has a strong reputation for customer service and innovation.
The earring that taught him a lesson
Harpin credits his success to his passion, persistence, and curiosity. He also says he learned a valuable lesson from his earring business. He told the BBC that he once sold a pair of earrings to a woman for £5, but later found out that they were worth £50. He realised that he had underpriced his product, and that he needed to do more research and testing before launching a new venture.
He said: “That earring taught me a really important lesson about business, which is you’ve got to test and learn, and you’ve got to understand the value of what you’re selling to your customers.”
