Tasty African Food seeks to grow to 100 restaurants in five years
The decision to open their first restaurant selling West African dishes was 'looking back, crazy', Olaleye said. He was working in IT and his wife was a teacher at the time, 'so we were going from certainty to uncertainty,' based on the encouragement of their church community. They took food to church every Sunday and 'the response was incredible. Abi is a phenomenal cook, and friends and family kept encouraging us to do more.'
One of the first hurdles in Woolwich was that they didn't sell alcohol in the restaurant because doing so clashed with their religious beliefs. However, the couple quickly saw how small the margins were in selling food, relative to alcohol, which is where most restaurants make their profit.
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The Sun
19 minutes ago
- The Sun
I'm 27 with £120k in savings – but I don't work 9-5 and I'll even retire at 40… anyone can do it
WE'VE all fantasized about retiring from work early - but for most of us it's more of a dream than a possibility. But you don't need a high-flying job or rich parents to make it happen. Maria Psarkis, 27, explains how she has built up £120,000 in saving and plans to retire at just 40. 6 6 6 Maria is just one of a new breed of SHINERs - Side Hustlers Habitually Investing - nurturing income and retiring early. It might not sound catchy - but this group of savvy savers use side hustles and multiple income streams to build their wealth - and avoid the traditional nine to five. In their case, it's their forties when they plan to stop working, or cut their workload to just a few hours a week. Maria explains: "I've upcycled, grafted, and used SEVEN side hustles to build £150k in savings, businesses and investments. "I don't and won't do nine to five. I'm creating my own 'side hustle retirement fund' and building investments by multitasking. "It's not about quitting forever. It's about freedom and being able to choose how and when I work." Maria is not alone. Around 14% of Gen Z - those born after 1996 - want to soft retire in their 40s and stop full-time work before they hit 50, according to a 2024 YouGov survey. But rather than dreaming of sitting on the beach or enjoying a round of golf, many younger people like Maria see soft retiring as a flexible lifestyle shift – not a full stop. They want to be their own bosses and do fewer hours, work remotely and use side hustles to give them financial freedom. Psychic's path to manifesting money and getting rich | Talking Money For Maria this means being a landlord, running a fashion business and working in hospitality, consultancy and content creation. Side hustle empire Maria started to build up her side hustle empire while she was in school and still lived with her parents. "I don't come from a rich family," she said. "When I was 17, I started working on Saturdays doing admin tasks. I tried to save 60% of my wages." When she turned 18, her gran also gave her £2,000, which, when added to her Saturday job and holiday work, brought her savings up to £7,000. After leaving school, Maria worked for twelve months as a waitress, doing event management, part-time modelling and social media marketing. "I am not the typical blonde-haired model," Maria explains. "Agents liked my dark hair, nose and what they called 'Arabic looks'. "I was living at home, so I could save almost 70% of what I earned. I used that year to develop multiple skills at entry-level positions." In 2017, Maria began her hospitality management and marketing degree at the University of Chester. On top of her classes, she also worked four or five shifts a week as a waitress or at hospitality events. "I budgeted £100 a week for travel and food and saved what I could," she said. "I was modelling for fashion students, did catalogue modelling, swimwear and clubwear for fashion companies, and was helping people market themselves on social media." As part of her degree, Maria won the Entrepreneurship in action competition with her business plan for a sustainable clubwear and Gen Z fashion brand. "The judges told me my idea could be launched on a budget and would work," she said. "It was the first time anyone had really praised my business nous and money-making ideas." During that time, Maria became obsessed with side hustles, spreading investment risk and saving. She explains: "I did go out, but limited my spending. "I had fun, but on a budget. I moved in with relatives in the second year to save even more money and cut my student loan liability." By this point, Maria's savings had reached £40,000, so she decided to start investing. But she ended up learning the hard way that investments can go wrong. She chose to try bitcoin trading and invested £7,000 - but soon lost it all. "I ended up being scammed. I was gutted," she said. "Meanwhile, two friends I'd loaned money to could not pay back the £300 I lent them. "Losing £7,300 was my financial rock bottom. I was furious with myself and that anger fuelled my plan to take control and aim to soft retire at 40. "It made me hungry to make sure I was financially protected, never suffered stupid exposure levels, and was always making, not losing, money." The situation made Maria even more focused on her finances. She decided to pay £4,500 upfront for her Master of Science in Management and Marketing to avoid having to pay interest on a student loan. She made extra cash to cover the costs by working as a waitress, events manager, model, travel agent and in social media marketing and advertising. Saved thousands She says: "I made back what I lost and added to my savings. "I had money in a savings account and was using an investment Isa. "I also regularly switched current accounts when offers came up on interest rates or cash bonuses." Maria also took out a credit card with a £2,000 limit to build up her credit score, but made sure to always pay off the balance in full. By 2022, she had amassed £70,000 in savings, including earnings from part-time work, interest from her Isa and side hustles. "I worked and saved hard for the money," she admits. "My financial rock bottom inspired me. I had the savings, but I still was not investment smart." Maria decided to move in with her grandmother in Manchester to save thousands of pounds in rent payments. She used £5,000 of her savings to launch her fashion brand, XX-Attire. The company initially offered clubwear and swimwear, but now sells work-friendly fashion to customers who want sustainable but edgy fashion. Maria said: "I did pop-up shops and catwalk shows in Manchester, London, Greece and Thailand. "I worked on the clothes myself, and the business is now making a profit. "I keep an eye on costs daily, develop only ranges I know will sell out using social media algorithms and client feedback. "I also make customised outfits which can earn me more than £500 per outfit." Property portfolio Maria also realised that the way to really put her money to work was to develop a property portfolio. Two years ago, she bought a two-bedroom house in Manchester for £89,000 and rented it out. She put down a deposit of £29,000 and took out a £60,000 mortgage over 20 years at a five-year fixed rate of 2.2%. Her monthly repayments were £309.25 and she earns £850 a month in rent. "I put that rent money into the mortgage each month and was always paying extra," she said. "I added a spare tenner or fiver weekly and it's cutting years and interest repayments off my mortgage." In total, Maria is able to overpay her mortgage by £61 a month. "This means I can pay off the mortgage four years early, save £3,789 in interest, and gain 48 months of financial freedom," she explains. "Each month, I try to add even more money. The snowball effect of doing this will have a real impact on soft retirement." Maria is also looking to buy a two-bedroom flat in Manchester this year, and plans to live in one of the bedrooms and rent out the other. She plans to put down a £30,000 deposit and take out a £40,000 mortgage. She explains: "Property is a solid investment, and not buying in London means I can get into the property market early, especially as my credit rating is excellent." Clutter into cash She also sells at least £3,000 of old clothes on Vinted or eBay each year, maximises club card points and swaps credit cards or utility suppliers when there's cash to be made or a cashback incentive. "I've made £2,000 doing that. I love charity shop buying and decorating. "I have a budget and stick to it, but if I can make money, even selling old books to a book-buying site, I'll do it. "People don't understand, Gen Z are not about one job, we're about multiple jobs or side hustles. "I earn money from my social media platforms, monetising them so instead of freebies, I get paid from the creators' fund or sponsored posts. "This can pull in £2,000 to £3,000 a month. I also earn a percentage from clients I've built social media content for, through their creators' fund payments." Maria has continued to run specialist hospitality events and says the skills she's learnt since she was 17 now help her to turn a profit. "I've also developed a new side hustle with my partner, who is a chef. "I help people to plan unusual date nights, hire someone to cook for them at home or use simple recipes to recreate restaurant-style food themselves. "It's a unique idea that adds another side hustle to my businesses." She also earns £200 a month by working as a travel agent. Meanwhile, she makes £400 a month from a photo studio that she leases and uses for photo shoots, makeovers and social media marketing. Maria saves a minimum of £1,000 or more a month. "I learnt to do my own accounting at university and have an accountant sign off on it," she said. "I also pay £200 a month into a self invested personal pension and top it up when I can." Maria's now on track to build an investment portfolio, including multiple side hustle businesses, Isas and her fashion brand, and expects to be worth more than half a million within five years. "I have fun. I go out. But I never miss an opportunity or let an idea slip away," she said. "Many people want to be different. They want a side hustle but are scared because the last generation told them nine to five jobs. 'I don't want a rocking chair in my forties. I plan to be soft retired, bossing it on a beach with a laptop." 6 6 Do you have a money problem that needs sorting? Get in touch by emailing money-sm@
Telegraph
19 minutes ago
- Telegraph
Blenheim aristocrat's 500 homes plan ‘could cause traffic congestion'
An aristocrat who owns one of the country's most famous stately homes is embroiled in a row with locals over building 500 homes on his land. James Spencer-Churchill, 12th Duke of Marlborough, wants to build the new homes close to Blenheim Palace in Woodstock, Oxfordshire. Blenheim Estate Homes, the estate's housing operation, said the plans would 'encourage community integration and social cohesion'. In planning documents submitted to Cherwell District Council, the company added that the plans consist of 'high-quality new homes which will include a range of house types, sizes and tenures to deliver market and affordable housing for young people, families and the elderly.' But locals have expressed concerns that the plans could overwhelm local infrastructure and cause traffic congestion problems. 'Unsustainable and harmful expansion' The Campaign to Protect Old Woodstock, a residents' campaign group that aims to protect the leafy market town from over development and damage to its natural environment and heritage, told the Telegraph the plans could also impact the Blenheim Estate as well as local health and school facilities. The 11,500-acre palace and its vast grounds, granted Unesco world heritage status in 1987, are owned by the Duke, who is the great nephew of Sir Winston Churchill. The day-to-day running is taken care of by a board of trustees, which also oversees Blenheim Estate Homes. Claudio Calvino, who lives in Woodstock, said: 'This development represents an unsustainable and harmful expansion that would irreversibly damage Woodstock's character, overwhelm its services, and create significant environmental and heritage risks.' Another local, Anne Cooper, said the plans were 'absolutely shameful' and added: 'Please, NO more. Oxfordshire is, or rather was, known as a beautiful RURAL county. Villages are desperately trying to retain their community values, but being overwhelmed by vast numbers of new housing estates.' Ulrike Parkinson, a fellow local resident, added: 'Woodstock has reached saturation point regarding infrastructure and traffic, and the town cannot cope with any further development.' James Carr, who lives in the leafy market town, indicated that the Blenheim Estate said the plans were 'out of touch' and said: 'Historic landowners making out of touch plans, chasing revenue generation, should be consigned to the past and not the future.' Owen Davies, who also lives in the town, said: 'The population has doubled in size, but none of the infrastructure has. The GP was already at capacity before any of the new developments, but now it's overwhelmed and has literally fallen apart. Both schools are oversubscribed. The Co-op is not fit for the number of people who need to buy food, so everyone has to go further afield for a full shop. This is now 1000s of people without adequate, accessible food supply and services.' Concerns were addressed 'openly and honestly' Woodstock town council, of which the Duke is a member, also objected to the plans and wrote: 'The farmland and parkland surrounding Blenheim are essential to understanding and appreciating its historic character. Development would urbanise this landscape. This proposal represents unsustainable, unplanned, and harmful development.' Meanwhile, the NHS Buckinghamshire, Oxfordshire and Berkshire West Integrated Care Board called for a financial contribution to be made from the estate to 'co-fund the extension/re-configuration of healthcare provision'. But other locals claimed Blenheim Senior Management addressed concerns 'openly and honestly' at a recent residents' meeting. Cherwell District Council will ultimately decide whether the planning application is successful by September. In planning documents, Blenheim Estate Homes argues: 'The ambition and vision of Blenheim Estate Homes is to build beautiful homes and create thriving communities where people will enjoy living and working, now and in the future.' The application also says the development will provide a mix of house types and tenures, including a target of 35 per cent affordable housing. The estate previously angered locals over plans for one of the UK's biggest solar farms, which could provide enough energy to power 330,000 homes, on the estate. The plan is being backed by the family of the Duke of Marlborough and, in particular, by his eldest son George, who stands to inherit the estate. Conservationists also previously raised concerns about plans to bring a golden sculpture called the Gilded Cage, representing the struggle of refugees in the modern world, to the estate.
Telegraph
19 minutes ago
- Telegraph
‘Dad invented Freddo. He'd roll over in his grave if he knew what it costs'
The daughter of the inventor of the Freddo chocolate bar said she is 'disgusted' at how much it now costs. Leonie Wadin, 74, claimed that since the death of her father, Harry Melbourne, she had not bought one of the frog-shaped confectionaries. She told Sky News: 'Dad was disgusted with how small it is now and how much they charge for it. 'He'd roll over in his grave if he could see it now. It was a penny chocolate.' In recent years, the Freddo has become a common yardstick by which the British public track inflation. It was first sold in the UK in 1973, before being taken off the shelves the following year. In 1994, when the chocolate bar went back on sale, it cost 10p. Cost of living crisis The Freddo remained at that price until 2005, when it began increasing by about 2p every year. Today, the confectionery is sold for 30p or 35p, but has been advertised for as much as £1. Last year, a Labour MP launched a petition calling for the price of the chocolate bar to be brought down after speaking to students at a local school in his constituency. Writing on X, Patrick Hurley said: 'Twenty pence for a Freddo is too much, especially in a cost of living crisis.' If the price of a Freddo had increased in line with inflation, it would now sell for about 21p. Ms Wadin's British father invented the Freddo in 1930 while working for an Australian company while just 14. She said: 'He said children are scared of mice, so why not a frog? Because kids go down to the lake and catch tadpoles.' Almost 100 years later, her family still takes pride in their connection to the Freddo bar. Ms Wadin added: 'They're very proud of their great-grandad, they still buy them, they love them. Carry on through every heritage, that's what I want. Never going to die 'The Freddo has to be passed on, Freddo is never going to die. It will always be there… I just want it all passed down, so that the frog is always in our lives.' Mondelez International, which owns Cadbury, told Sky News that Freddo had endured popularity across generations since launching in Britain in 1973. They said: 'Whilst it's important to stress that as a manufacturer we do not set the retail prices for products sold in shops, our manufacturing and supply chain costs have increased significantly over the past 50 years, and Freddo has become more expensive to make. 'We have absorbed these increased costs wherever possible. However, on occasion we have made changes to our list prices or multipack sizes to ensure that we can continue to provide consumers with the Freddo that they love, without compromising on the great taste and quality they expect.' Earlier this month, the Bank of England warned that rising food prices could push inflation to 4 per cent. The Monetary Policy Committee said that poor global coffee and cocoa harvests were partly to blame. The price of food, clothing, air and rail fares all contributed to the rate of inflation reaching 3.6 percent last month – the highest rate since January 2024.
