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Famous entrepreneurs: Richard Branson

richard bransonFrom records to railways: the rise of Britain’s most famous entrepreneur.

The early years

Richard Branson had started two ventures by the age of fifteen: one growing Christmas trees and another raising budgies. These eventually failed but after leaving school at sixteen he moved to London, where he began his first successful business, Student magazine. When he was seventeen, he opened his first charity, the "Student Advisory Centre."

Branson started his record business after he travelled across the English Channel and purchased crates of records from a record discounter. He sold the records firstly out of the boot of his car and then through a record mail order business in 1969. Trading under the name "Virgin" (because he and his colleagues were all virgin in business) he sold records for considerably less than the high street outlets.

Building on success

Branson eventually started a record shop in Oxford Street in London and, shortly after, launched the record label Virgin Records with Nick Drake. Branson had earned enough money from his record shop to buy a country estate, in which he installed a recording studio. He leased out studio time to fledgling artists, including multi-instrumentalist Mike Oldfield and controversial bands like the Sex Pistols, whom other companies were reluctant to sign. Virgin Records won praise for exposing the public to obscure avant-garde music, but Branson sold the Virgin label to EMI in 1992, to help fund his airline company.

Branson had formed Virgin Atlantic Airways in 1984, and he went on to launch Virgin Trains in 1997, Virgin Mobile in 1999, and Virgin Blue in Australia in 2000. Branson continues to launch new business ventures, with Virgin healthcare announcing in January 2008 that it would open a chain of health care clinics that would offer conventional medical care alongside homeopathic and complementary therapies. Virgin Money also bought the Northern Rock bank in 2011.

Ambitions for the future

Branson is passionate about life and living every minute to its fullest. Since 1985 he has been getting his adrenaline rushes through world record breaking attempts by boat and hot air balloon. Branson makes each record attempt a media event with his Virgin logo prominently displayed during every launch, which has been an excellent source of free advertising and brand placement for the Virgin Group.
Branson was awarded a Knighthood in 1999 and became Sir Richard Branson for his contribution to entrepreneurship.

There are plenty of Virgin businesses throughout the world and there will probably be more to come as Branson is always looking for a new challenge. There is even a section on the Virgin website to submit your own business venture that Branson may consider pursuing.

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