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Overview:
In our conversation, Nick
Explains what The Wave is all about – a lake in Bristol as big as three or four Olympic-sized swimming pools.
Describes the logistics behind creating waves, and how The Wave has been designed to be suitable for all ages and skill levels.
Expands on how surfers use the lake – one hour of surfing time equates to four or five hours in the ocean.
Talks through The Wave’s business model.
Outlines the cash flow challenges of running a seasonal business.
Details how they’ve made efforts to widen their demographic and ensure that everyone feels comfortable.
Delves into where it all began and how he raised the eye-watering £30m set-up costs.
Focuses on the importance of laying the right foundations and building strong connections when structuring the business.
Discusses planning permission issues they faced.
Enthuses about the day ‘the tap was finally turned on’.
Shares his thoughts about possible expansion and being driven by the concept of ‘Blue Health’.
Passes on to new entrepreneurs his most fundamental key learning.
Nick Hounsfield
Founder at The Wave and One Blue World
Highlights:
1:18 – Our show’s sponsor, Magus Wealth
2:07 – Describing The Wave
9:10 – The Wave's business model
13:50 – Cash flow challenges for a seasonal business
19:50 – The origin story
26:45 – Raising £30m investment
34:50 – Tackling planning permission
41:05 – Finally ‘turning the tap on’
45:50 – Future plans
49:40 – Becoming certified B-Corp
51:10 – The concept of ‘blue health’
54:00 – Passing on one key learning
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