Every Monday, we ask small businesses key questions. Here we speak to Elizabeth Boyd who runs Nethy Bridge-based Moray Lodge with her husband Ian.
How and why did you start in business?
After leaving university I worked in commerce until I got married. My husband is a building engineer and worked in the Middle East and Asia, so I travelled with him, working for the British Overseas School in Karachi and the British Council in Oman.
On returning to the UK I set up my own childcare and education training company in Berkshire, which I still run.
We moved back to Aviemore to be with family and I commuted for several years. However, being frozen solid to the platform one winter’s night while waiting for the sleeper to take me south convinced me that was time to stop commuting and start a business at home.
How did you get to where you are today?
We sold an office block that we owned in Reading and invested the money in Moray Park, a small, dilapidated estate with large gardens in the heart of Grantown on Spey.
The main building, Moray Lodge, has been transformed into family self-catering accommodation with a large indoor heated swimming pool and private cinema.
We also have two smaller units in the complex – the Gardener’s Cottage and the Studio – enabling us to accept groups of up to 18 adults and four children.
Our clients are usually large family parties, although we also welcome yoga/golfing/cycling groups too.
We then transformed other buildings on the site, creating a therapy centre with a thermal suite and hairdressing salon, a restaurant and event venue, and two escape rooms, all of which are run by independent local companies.
Unlike other large self-catering units, Moray Lodge is situated only two minutes’ walk from Grantown’s bustling town square, so our guests can wander into the town for a coffee, meal or bottle of wine.
Who helped you?
My husband’s friends in the building industry rallied round to transform the lodge, which was in a poor state when we bought it.
Federation of Small Businesses gave us excellent legal advice on planning and various other issues, and my son, Rory, a tech in the entertainment industry, has installed a state-of-the-art private cinema for guests.
He has now bought the building, thanks to an RBS business loan, although we continue to run it on his behalf.
We are already fully booked for next summer and we’re just about to accept bookings for 2024.
What’s the best piece of advice you’ve ever had?
Always diversify – don’t put all your eggs in one basket.
What is your biggest mistake?
Not doing it sooner!
What is your greatest achievement?
The same as every other mother’s greatest achievement.
What do you still hope to achieve?
To continue to build on the success of Moray Lodge until the time is right for Rory to take it over.
How is your business managing rapidly rising costs, and what should government do to help?
We’re battening down the hatches and getting on with it. The Government should lower VAT for tourism and introduce a sliding scale for corporation tax.
It’s crazy that small businesses pay the same percentage as huge conglomerates.
What do you do to relax?
Sit down, put my feet up and drink sherry.
What are you currently reading, listening to or glued to on TV?
I’ve just finished Frank Gardner’s “Crisis” and I can’t wait to start the sequel.
What do you waste your money on?
Sherry!
What’s the first thing you do when you get up in the morning?
Swim and sort out my tasks for the day ahead.
What do you drive and dream of driving?
A Nissan Leaf and I love it! It’s the third electric car we’ve had in 10 years.
I’ve always wanted a mini-digger, and last year my husband bought me one for my birthday. As a keen gardener, it was the best present ever!
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