Every Monday, we ask small businesses key questions. Here we speak to Keith McCaffery, owner of Cafferys Men’s Designerwear in Inverness.
He told us lower taxes would allow small and medium-sized enterprises like his to flourish.
How and why did you start in business?
I grew up in Inverness and went to Inverness High School and Millburn Academy before heading off to Glasgow Caledonian University to study for a degree in economics.
My retail career started in 1993, 30 years ago now, managing stores for other people.
I loved it but why work for others when you can work for yourself, with all the challenges that brings?
And as an opinionated and stubborn individual, with a university education, there were never-ending differences of view between myself and those higher up about the best way forward. It was time to believe in myself, get out and do my own thing.
I started working for a small independent in Inverness and after a year, in June 2002, I bought the business from the then owner, who wanted to concentrate on other matters.
How did you get to where you are today?
Driven by my own vision, I transformed the store – Cafferys – and focused on a casual look, adding brands like Armani as we increased turnover. I then opened a second Cafferys on Union Street in 2006, focusing it on high-end fashion, including Vivienne Westwood and Hugo Boss.
I purchased the Union Street property in 2015 as a progressive move for the business.
In February 2018 I decided to put both stores under one roof in Eastgate Shopping Centre, creating one large store with a healthy brand mix. Cafferys has been a great success. While the pandemic and lockdowns were traumatic, the future is very bright.
Who helped you?
As a naive and inexperienced entrepreneur in the early days, family members were an enormous help with short-term finance options and advice on how to deal with situations.
Mums are great believers in their sons, and none more so than my mum, Margaret.
My wife, Susan, has also been a great wall of support and encouragement through some very stressful periods.
I’ve found the Federation of Small Businesses to be a great source of information and help on health & safety and human resources matters, aspects that can be overlooked when starting out.
Its structured business advice, including finance and banking, are a constant help.
And I can’t forget my cats – always happy to see me and great de-stressers after a day at the office. They’ve been a constant in my life for more than 12 years.
What’s the best piece of advice you’ve ever had?
Pay your bills and believe in yourself’.
What is your biggest mistake?
Not bringing the two stores under one roof earlier.
What is your greatest achievement?
I’m still married to Susan, I’ve got two great daughters at university and I’m still alive, working and trading.
How is your business managing rapidly rising costs and what should government do to help?
Rising costs – wages, stock and utilities – are a major issue, but we just have to get on with it, which is what is happening.
It seems to me that lowering taxation on smaller, independent businesses would allow them to flourish and encourage new ones to set up, thereby rejuvenating local town and city centres, and creating jobs.
Lowering my tax would put more money in my pocket that would be spent within my community on creating employment, business expansion and infrastructure improvements.
What do you still hope to achieve?
I want to continue to grow and develop Cafferys, which is now more than 20 years old.
But the trading environment is difficult, so the future is all about maintaining my fitness and motivation.
What do you do to relax?
Sit with my cat, Fifi, watching my football team, Liverpool. I’m also a keen road cyclist and try to participate in local events like the Loch Ness Etape and Bealach – a healthy body equals a healthy mind.
What are you currently reading, listening to or glued to on TV?
I watch live football on Sky, BT and BBC, and currently also Yellowstone and Your Honor, season two. Apart from that I listen to talkSPORT and play Sudoku.
What do you waste your money on?
Wine.
What’s the first thing you do when you get up in the morning?
Enjoy a cup of tea.
What do you drive and dream of driving?
I drive an Audi A5. Cars don’t interest me and I dream only about growing my hair back and getting taller.
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