1952: £1/week as Cinema waiter selling cold drinks.
2024: 5 kids, 11 grandkids and 7 businesses.
Meet Grandfather Phokou.
I interviewed him 5 years ago.
Found my notes yesterday
Here's how my grandfather went from £1/week at 15.
To serial entrepreneur at age 30.
1952 (15 years old):
- Apprentice barber, earned £1 a week
- Sold cold drinks at cinema for 1/2 a penny per drink.
- Reinvested 5 shillings per weekly violin lesson.
Practiced violin in the barbershop
(to level up earning potential)
1954 (17 years old):
- Barber wage increased to £2 a week.
- Played violin at weddings, didn’t charge but tips of £1-2!
- Often received chickens and birds as tradition.
Multiple income streams baby!
1958: (21 years old)
Moved to England.
Plan?
1) Learn ladies’ hairdressing
2) Return to Cyprus to open the first unisex hairdresser
3) Start a school.
Completed a 6-month course in 3.5 months.
- Found a job instantly as could cut both genders's hair.
- Began working by appointment for women’s hairdressing.
- Standard pay was £5-6 per week, he earned £15/wk
Bought a car for £25.
Split the cost with his cousin (£12.50 each)
We literally making moves now.
1960: (23 years old)
- Searched for his own shop
- Found a former unisex hairdressing shop.
- Lease for 12 years was £1300
- Used £540 and borrowed the rest from friends and family.
Paid back the loans within 2 years.
We are officially in business at age 23.
1963: (26 years old)
Business has gone VERY well.
Upgraded his car to a brand-new Morris Oxford.
We balling.
1964: (27) Met Grandma Phokou.
Met in September, got married the same year <3
Time to make babies.
1965: baby 1
1966: baby (dad)
1969: baby 3
1974: baby 4
1975: baby 5
Made a good name in hairdressing and with his bank.
Leveraged that to open more shops.
- Bought a fish & chip shop for £3500.
- Completely renovated it with new Presto ranges.
- Purchased 2 more fish & chip shops from the profits.
- Hired managers and employees.
- Bought a snack bar as well as why not.
- Bought a bunch of farmland in Cyprus.
Sold/lost most of the businesses due to the war in 74.
Raised a beautiful family that led to 11 grandkids.
2017: (80) Built a villa as Phokou home for family to visit.
2024: (87) We go most Sundays for a family meal.
Grandpa phokou has never "stopped" working.
By hand built an amazing garden over the last few years.
My 3 takeaways from his story.
1) Invest with your family, (align incentives)
2) Befriend your banker, (just do it)
3) Build stuff (stay healthy)
He is my reminder.
"To retire is to expire."
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