Always watch your overheads and control costs

Inside Track Q&A: Des Valelly,founder Irish Village Markets

What’s the most unique thing about your business?

The traders we have and the diversity of food they can offer. It’s the array of food and talent they bring to our markets. It’s so unlike a standard restaurant with the one particular type of food. We can have 15 to 20 different chefs.

What was the best piece of business advice you’ve ever received?

It came from my father; he was in business all his life. It was just to watch your overheads and control costs. My father was a buyer for Dunnes Stores, like an area manager, for 35 years.

What’s the biggest mistake you’ve made in business?

In this business I would say not starting it earlier. I would have liked to start 15 years ago because I enjoy it and it’s so diverse. Fifteen years ago, I was working in IT watching other people getting rich. [They were] watching other people doing all the work while they were out playing golf. There was always a market for food; people always want to eat good food.

And your major success to date?

This business model. It’s the amalgamation of quality food and giving the opportunity to people in this climate to do something that they love doing and making a decent living out of it.

The business is significantly improving, both in terms of the number and quality of locations.

We are in some nice areas of Dublin and the business model is growing and showing great signs year-on-year of improving.

Who do you most admire in business and why?

I am a big fan of Bobby Kerr and what he has done in the catering industry. What he did with Insomnia and turning it around from about 10 shops to what it is today. It’s his ability to recognise potential and just stick at it. When he has a small business that he wants to develop, he has a big vision. He doesn’t think small; he thinks big.

Based on your experience in the downturn, are the banks in Ireland open for business to SMEs?

Personally, I don’t know. I have never had to use them. I have always tried to manage what I have been doing and not rely on loans.

But from what I know, I would say no. They are crippling small businesses by not releasing capital: some need capital to grow.

We are lucky; we are in the service industry so we can be slow at growing. Banks don’t care about anyone.

What one piece of advice would you give to the Government to help stimulate the economy?

I would ask them to put more pressure on Europe to try and deal with this legacy debt. I think they are too soft. They need to try harder.

Europe is open for negotiation so try and get a decent deal for us because, if we can wipe off some of the billions we owe, we can put that back into our own economy.

What’s been the biggest challenge you have had to face?

“Strangely enough, the weather. It’s a big problem. But also from established restaurants and cafes. They try to hurt us. We hurt them; on a nice day you see the queues of people for nice fresh food.

You name it [in terms of the problems the markets have encountered from settled businesses]. We have had employment tribunals; we have had the HSE, the HSA; the fire chief. It is as if we were doing something illegal or immoral, as if we were breaking every single law that was out there. But as much as they have tried, they have been unable to close us down.”

How do you see the short-term future for your business?

The short term is just about developing further markets and improving the quality of the food that we offer. We have covered quite a lot of Dublin but there are still areas we feel could benefit from good lunchtime markets.

What’s your business worth and would you sell it?

I don’t know. I guess it’s my aim to have it worth €1 million. I’m not far; it’s achievable. But would I sell it? No. I love what I am doing and I want to do it for the next 20 years. It has its difficult moments but I wake up in the morning with a smile on my face.