Julian Richer (of Richer Sound)

RecordAceFromNew

Swinging Member
Location
West London
Julian Richer has given 60% of the company he built from scratch to an employee owned trust.

I remember, as a poor student nearly 40 years ago, his end of line gears were perfect for my purpose.

Today the company has a steady annual operating profit of around £10 million. He is also giving all his employees a bonus of £1000 for every year of employment.

Wish news like this get more exposure at work, at the dinner table at home, at school, and not least in the media, instead of the divisive lies from rogues like Trump and Farage on a daily basis.
 
Didn’t they hold the world record for the most profitable shop per sqr ft?
 
Good for him !

For what it's worth, as a customer I've always rated Richer Sounds as a retailer. I assume the helpful, friendly and knowledgable staff are down to a good company culture which (evidently) values said staff
 
I don't think they sell valve amplifiers...…

{grump...}
Just how loud do you want Justin Beiber’s latest to be??
 

Electric_Andy

Heavy Metal Fan
Location
Plymouth
I assume the helpful, friendly and knowledgable staff are down to a good company culture
Yes I agree. Whenever I've been in there, all the chaps know everything about what you want to buy. My local one also doesn't open until 10 because from 9-10 the employees are being trained on the new stock coming in. This is how shops should work
 
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Bonefish Blues

Banging donk
Location
52 Festive Road
Remember that Mr Richer gets paid by Richer sounds for his share (100%) of the business - of which he has donated £3.5M back to employees in the form of service-related cash bonuses, so he does get recompense.

The CEO of a company of my acquaintance used this device to take out his and his family's £ from the organisation, ostensibly handing it over, but staying on in his paid position, and having also set up service companies to sell various services back to the company.

I hasten to add that I don't think JR's in that category, but it's a neat device.
 

Pale Rider

Legendary Member
Didn’t they hold the world record for the most profitable shop per sqr ft?
That was the first store which was a broom cupboard on London Bridge Walk.

Quite hard to find, it was an elevated pedestrian walkway on the south side of the bridge.

Might have been demolished as there has been lots of development in that area such as The Shard.
 

KneesUp

Guru
Didn’t they hold the world record for the most profitable shop per sqr ft?
It was *value of sales* per square foot, at the London Bridge Walk store. It used to be mentioned in all the flyers at the back, where Julian used to write a letter each month.

Bought a lot of tapes off him as kid, and have bought a lot of hi-fi from him too as a result - he had a maxim that today's tape buyer is tomorrow's hi-fi buyer, so sold the tapes at very low margin to keep people coming in. He was right.
 
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RecordAceFromNew

RecordAceFromNew

Swinging Member
Location
West London
For what it's worth, as a customer I've always rated Richer Sounds as a retailer. I assume the helpful, friendly and knowledgable staff are down to a good company culture which (evidently) values said staff
This is a good read, of his philosophy, and how he has been helping other companies.

Even ages ago they were the most charitable private company in UK by % of profit. The company currently donates 15%.

It tells you something, when it is people like Phil Green who gets a knighthood.
 
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