Are you a spender or a saver? I’d say I’m a bit of both, sure you can’t spend without saving. When it comes to Kerrigan’s I enjoy spending money within the business if I know it will make us more efficient or solve a current blockage the business may be experiencing. This year we celebrated our 50th anniversary, a milestone achievement which showcased our resilience and ability to adapt by prioritising and investing in consumer trends like as convenience, fitness, premiumisation — so our investments are paying off thus far.
When it comes to my personal life, I enjoy spending money on experiences with family, rather than material purchases. That being said, I do have a couple of ‘vaults’ set up where I can pop money aside for Christmas time and holidays. These are a great tool for saving and I don’t feel the smaller amounts coming out.
How much is in your wallet? Normally around €100 or so, but there are days where I leave my wallet at home and just use my phone to pay.
Do you adhere to a budget? Not strictly when it comes to the business. Kerrigan’s was established in 1973 by my father, and myself and my brother Shane now run the business. We’re so familiar with the business that we’d have a good idea of monthly outgoings to run the business. I’m the same with my house but if an opportunity arises, I’m always flexible.
Do you have many loyalty cards? Yes, if it’s a business or somewhere that I find myself shopping regularly and they offer a loyalty programme I’ll always sign up. I’m always eager to see how other businesses run theirs and implement ideas from those who are doing it well. All business owners will agree that it’s important to us to reward loyalty and in this climate, a few quid off here and there, can go a long way.
Cash or card: what’s your preference? Both, using a card on my mobile is a welcomed convenience, but I wouldn’t be keen on a cashless society.
What’s the best deal you’ve ever gotten? Easy — my house. I got lucky when I purchased my home and just happened to buy it in the right place at the right time.
What’s the most important financial lesson you’ve learned? On a simple level within the business its crucial to know what your General Profit (GF) and Net Profit (NP) are to inform you and your team both in planning phases. On a personal level, talking to the experts. I’m by no means an expert in tax planning or pensions for example, but I know when to reach out to the people that are.
What’s the most expensive thing you’ve bought? Again, my house, but I did get a great deal. I also drive a Range Rover but can’t say I’ve had as good a return on that purchase.
If money was no object, I’d buy… Family is super important to me so I’d invest in a second home, somewhere that myself and my family could enjoy together at every opportunity.
Kerrigan’s Craft Butchers has an online store with delivery to Northern Ireland. Visit kerrigans.ie for more information