Richard Teatum’s passions include boxing, paragliding and scrambling, but not cars. This might seem surprising, given that he has dealt with cars his entire working life and his Doncaster company, Stoneacre, now sells 350 of them each week.
The son of a Yorkshire miner, Teatum is a mechanic turned entrepreneur. After selling his first company for £10m in 1994 he retired to Spain but came back after just four weeks.
“I got so bored I returned to Britain and bought a bankrupt dealership called Stoneacre. I was too tight to change the name.”
Today he owns 11 Stoneacre sites in the north of England that sell used cars as well as new models from the likes of Kia and Suzuki.
This approach has helped Stoneacre to become Suzuki’s most successful dealership in Europe and pushed up Stoneacre’s profits 55% a year from £1m in 1999 to £3.8m in 2002.
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