Simone Schehtman
On the right track
When City banker Simone Schehtman spotted a gap in the corporate hospitality market, she swapped her smart suits for racing overalls, and set up Teamworks Karting with partner Michael Bryant. She tells us how her idea made it past the finish line.
What gave you the idea for Teamworks Karting?
We'd found, after attending a few different corporate events, that the delivery of go-karting was not done to the standards of corporate hospitality we expected; coupled with our desire to build a creative, exciting fun business where customers are always smiling, we thought there was clearly a gap in the market, hence Teamworks Karting was born!
Our idea was to create an upmarket chain of race tracks, using environmentally sound electric vehicles, cutting edge lap time technology, and quality catering, from sushi to lattes.
What were you doing at the time you had the idea?
I was a strategist in retail banking, and my co-founding director, Michael, was a City lawyer, both working in London.
What was the first thing you did to try and make the idea happen?
We spoke to lots of people, including potential customers, we went to lots of activities and venues, and asked many questions to all types of business owners.
Who helped you, and how?
Michael and I helped and supported each other initially, and not long after we were confident in our vision, we received support and encouragement from our family and closest friends.
When did the idea start looking viable?
When the business plan started to take shape and we contacted some people in finance in the City who said 'This is the best business plan we have seen for years!
What obstacles did you encounter along the way?
Setting up a business for the first time has the upside of being full of creative energy, faith, goodwill and hope that anything is possible if you want it to happen.
However, 'greenness' can be seen as naivety and convincing others of your idea and vision is no mean feat when you are a novice and unproven. Our main obstacle really was losing our first location, in Bishopsgate in London.
We'd set up there, only to have the land compulsorily purchased for the East London Line tube extension! All 48 of our employees were made redundant, and our karts and lane barriers were put into storage.
We survived by reinventing ourselves as a booking agency, arranging corporate events at other tracks around the country.
Eventually, we decided to relocate to another city centre, and moved to Birmingham, where we encountered a very forward-thinking council who accommodated our proposals.
When did the idea officially get up and running?
Spring 2001.
Future plans for the idea?
A national roll-out – and floatation on one of the stockmarkets!
Advice to anyone else who wants to make their idea happen?
Just go for it! It's hugely exciting, a great challenge and adventure. Don't miss out! Oh, and enjoy the highs, because sure as night falls there will be lows too!