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Mutlimillionaire is helping a mother launch her business after their met on Rich House, Poor House
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Mutlimillionaire is helping a single mother launch her business
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Click the thumbs up >The founder of ill-fated used car retail group Big Cars, Adam Stott, took centre stage in the first episode of the new series of Channel 5 Rich House, Poor House last night.
Stott, described in the programme as a “millionaire business consultant” traded places with a widowed single mum who had just £70-per-week to live in after losing her job in the COVID-19 coronavirus pandemic in an emotionally-charged episode of the programme.
Struggling Kiptieu, who fled war-torn Sierra Leone and is now a widow bringing up her three daughters in a two-bedroom ground-floor flat in Abbey Wood, London, could not believe her luck when she traded places with Stott.
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A recession may not seem the ideal time to start a business, but some big names – Microsoft, FedEx, General Electric – have made it work. In 2008, Adam Stott quit his sales job at a BMW dealership, sold his house, moved in with his mother and Big Cars was born.
The recession hit the motor industry particularly hard, so Stott started small, with a modest premises in the wilds of Essex. By 2009, he had made enough money to move to bigger premises in Chelmsford, from where he delivered a £1 million turnover.
Six years later and Stott heads a company with two sites (Witham and Chelmsford), 46 employees and a projected turnover of about £25m this year. He is also on the brink of opening a dedicated service and repair centre. Initially this will be used to meet the majority of his vehicle preparation needs in-house, but he plans to open the facility to motorists early next year.