logo
Man offering free smoked salmon business to right couple with 'entrepreneurial spirit'

Man offering free smoked salmon business to right couple with 'entrepreneurial spirit'

Fox News10-05-2025

A man who runs a food business on a Scottish island has a tantalizing offer for the right couple.
He's planning to give the entity away for free to someone looking to move to the area long term — all part of a desire to help protect his community's future, he said.
Richard Irvine, 65, founded his smokery about three years ago, said news agency SWNS, after first "falling in love" with the Hebridean island in the 1980s when he and his wife honeymooned there. His business, Colonsay Smokery, supplies smoked salmon to the shop as well as to local restaurants and venues off the island.
The tightknit community has just 120 residents or so — and Irvine wants to hand the business over to a young couple who plan to stay and help contribute to building up the area.
He said he wants to help boost the local and school populations however he can.
"Attracting younger people to live here is a constant driver for island efforts," he said, SWNS reported, as the current population is growing older.
"Many of my peers on the island have devoted their skills and time in a voluntary capacity to help develop the island economy … [They've aimed] to increase the amount of affordable accommodation, which is great," he said.
"Call it a desire to help an island I love."
"But housing is only one side of the island's problems. Economic development – jobs – is the other. That's where I thought I could add value."
He said he wants to "pass this business and the opportunity it presents on to someone who has the desire to run and grow a business, but perhaps is missing the initial capital to get it set up. Call it putting back, call it boomer guilt — call it just a desire to help an island I love," he added.
"My vision is to find a young couple, possibly with a young family, who'd like to make it their home [and] need a way of earning a living."
Irvine founded the smokery after retiring from a career as a brand consultant, he said.
"I moved here after retiring early from a career that encompassed building, working as a chef, commercial writing and running a successful design and brand consultancy," he said. "I did so as we've [vacationed] here for almost 40 years since I took my wife here on our honeymoon."
The couple originally planned to buy a plot and build a home on Colonsay, but realized they needed a place to stay during the process. Within months, they found and purchased a house with sea views.
While his wife stayed on the mainland with their son, Irvine took on the task of renovating their new island home. It was complete by the "end of the pandemic," he said.
He also "needed a project to keep me busy," he said.
"I conceived the idea of creating a business that would benefit the island that I love and that I could hand over to someone to encourage them to relocate here."
The ideal candidates would have an "entrepreneurial spirit," he said.
The process of smoking salmon takes five days. It includes fileting and curing the fish in salt, before it is dried, smoked and left to mature, the BBC noted.
It is then sliced and packed before being sold.
Irvine said he will mentor prospective owners for three months, he said.
"I'll mentor and teach them for three months as a handover if they need it … The only thing I will do is retain a form of 'golden share' to ensure they keep the business going, and hopefully growing, for five years."
For more Lifestyle articles, visit foxnews.com/lifestyle
He said that ideally, he's hoping to find a family who would appreciate the close-knit nature of Colonsay's tiny primary school, and the opportunity to swap a small city flat for a larger, more affordable home just minutes from work, as SWNS reported.
"If you think you might be that couple – write to me telling me why," he said.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Should Your Business Go Global or Stay Local?
Should Your Business Go Global or Stay Local?

Entrepreneur

time2 hours ago

  • Entrepreneur

Should Your Business Go Global or Stay Local?

The small business owner's guide to choosing between local dominance and global growth. Opinions expressed by Entrepreneur contributors are their own. Today's SME management operates in an environment where business opportunities are spreading outside the city. Access to online tools and platforms makes the selling process very easy across borders. But is it meaningful just because it is possible? Is it always the right action to enter the international market, or does staying local lead to more sustainable success? It's not just ambition to choose between domestic and global markets. You need to fully understand the resources you have, the nature of the services you provide and the complexity associated with scaling up. In this article, we will justify the choices between them, backed by actual data, for the founders and decision-makers of SMEs. Related: Should You Go Global, or Consolidate Locally? Defining local and global market focus Before entering the analysis, it is important to define the meaning of local and global markets: A local market is a region where a business is being developed (city, county, region, etc.). Global markets mean expanding business across borders and selling products and services internationally. Each direction requires a different way of thinking, infrastructure and strategy. The case for staying local Doing business within the local market can provide clarity and concentration. SMEs often succeed by being rooted in the region and responding to known customer behavior. Advantages: Familiarity and relationships: Local businesses have the advantage of knowing their customer base personally. Face-to-face exchanges enable the establishment of trust, which is difficult to reproduce in international transactions. This familiarity reduces friction in marketing and service delivery. Operational efficiency: There's no need to control customs regulations, international taxes, language barriers, foreign exchange, etc. This ensures consistent quality and rapid service. Reduced financial risk: Usually, there is less capital investment required for local growth. There is no need to invest money into translation services, overseas transportation infrastructure or international legal advice. Supportive ecosystem: Most governments and municipalities offer grants and tax relief to companies that fit local demand. Disadvantages: Limited market size: Unless you develop a new customer base or diversify your offerings, the growth of your local business is likely to hit a wall. Susceptibility to regional fluctuations: A slump in the local economy (such as the closure of key employers) can affect consumer consumption patterns and sales. Higher dependence on repeat buyers: A low population makes it difficult to get new clients. The case for going global Crossing borders can bring great opportunities, but there are also several downsides you need to be aware of. Advantages: Greater revenue potential : International markets provide access to millions more customers, which boosts revenue potential. Economic diversification: By selling in multiple countries, you can play the role of a buffer. Even if one region faces a recession, demand in another region can stabilize overall income. Market demand for niche products: Depending on the product, you can find niche attractions that do not exist overseas. For example, handmade products, special foods and local designs may be more appreciated in overseas markets. Disadvantages: Complex regulations: Export regulations, taxes and various legal frameworks increase entry barriers. Shipping and fulfillment challenges: International shipping requires detailed planning, in some cases third-party fulfillment services, increasing costs and risks. Cultural missteps: Marketing campaigns and product positioning need to be adapted to different markets. Even if it works well in the United States, it may not work in other countries. Related: Small, Local Businesses Have a Competitive Advantage Over the Amazons and Ubers of the World, According to a New Report Hybrid strategy: Local foundation, global growth Some of the most successful SMEs start from a local footprint and expand globally in stages. This approach builds stability before being exposed to complex environments. Examples include: Ben & Jerry's: Started as a small ice cream parlor operating from a renovated gas station in Burlington, Vermont. The company now does business all around the world. Allbirds: Initially targeting local customers in New Zealand, the international fulfillment center was deployed after verifying product demand. Through a phased approach, there is room to test logistics, understand regulatory compliance and gradually build infrastructure. Key considerations before expanding Business owners should evaluate the following when considering options: Product suitability: Is the product or service universal? Do I need to consider compliance with labeling, safety standards, intellectual property laws, etc? Infrastructure readiness: Can current logistics and fulfillment systems meet international demand? Do you have a local partner or agency that can support global initiatives? Financial and human capital: Is there any cash flow or funds required for business expansion? Does the team have the ability to manage complex issues such as language, time difference and global customer support? When local wins The local market is often best for: Service businesses (barber shop, electrician, consultant, etc.) Regulated products (e.g., pharmaceuticals) Companies with limited management resources and strict cash flow When global is worth the risk Here's when you should consider global expansion: You're already in international demand due to online sales and organic sales. You have strong operational support (logistics, customs, fulfillment partners). Entering the growing international sector (e.g., educational software, special food). Related: 6 Obstacles of Expanding Your Company Internationally — and How to Overcome Them. There is no universal answer to which SMEs should aim for local or global markets. Both paths have attractive advantages and notable risks. The decision requires a clear understanding of the company's business model, customer and ability to manage complexity. The most important thing is not to scale up, but to grow strategically — in line with purpose, ability and long-term vision. In some cases, there may be more lasting value in staying small and concentrating on the local area than in quickly expanding into international markets. Also, global thinking can draw real momentum if done carefully and accurately.

Popular whisky retailer announces shock closure with 'heavy heart'
Popular whisky retailer announces shock closure with 'heavy heart'

Yahoo

time3 hours ago

  • Yahoo

Popular whisky retailer announces shock closure with 'heavy heart'

A popular retailer near Glasgow will be closing its doors after five years in business. Spirit of Alba, an award-winning specialist spirits store in Kirkintilloch, took to Facebook to announce that due to increasingly difficult trading conditions in retail, the dramatic increase in utility prices and the cost of living crisis, it is impossible for them to continue. READ NEXT: Football fans warned ahead of Scotland v Iceland at Hampden Park Taking to social media, Spirit of Alba staff said: "It is with a heavy heart that we must announce the closure of Spirit of Alba. It has been a pleasure to serve everyone over the last five years since we opened in 2020. "Sadly, increasingly difficult trading conditions in retail, the dramatic increase in utility prices and the cost of living crisis have made it impossible to continue. This decision has come at great personal cost, but it is with heartfelt appreciation for your support and custom during these challenging years." They went on to say that they are currently engaging with professionals to work out the formal closure of the shop and the Spirit of Alba Festival. They then thanked everyone for being part of the Spirit of Alba experience. The retailer's website now says that Spirit of Alba has ceased trading. READ NEXT: Planning application submitted for new takeaway People were quick to share their sadness over the news. One person said: "Gutted for you. I've thoroughly enjoyed all my visits and chats over the last few years - you have given us great advice and have broadened my understanding and more importantly my enjoyment of whisky. Wishing you every blessing for your future." Another said: "So sorry to hear this, yet another loss to our community." A third person added: "So sorry to read this. You guys have put your heart, soul and hard earned cash in to this great venture. I hope to cross paths again at some point." Meanwhile, a fourth person added: "Cracking shop with great customer knowledge. Will be sadly missed."

Bay Street Sees Future Cuts After Bank of Canada Holds Steady
Bay Street Sees Future Cuts After Bank of Canada Holds Steady

Bloomberg

time4 hours ago

  • Bloomberg

Bay Street Sees Future Cuts After Bank of Canada Holds Steady

The Bank of Canada 's decision to hold its policy interest rate at 2.75% shows that it's more focused on core inflation than weak economic growth as it waits to get more data, according to analysts. Stronger than expected price growth has 'changed their calculation,' Charles St-Arnaud, chief economist with Alberta Central, said on BNN Bloomberg Television. The bank is now faced with the dilemma of balancing concerns about the health of the economy with inflation risks, he said.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store