How the millionaire Andy Scott rebuilt his business empire after a brutal accident

When Andy Scott was hit by a taxi that broke his legs and fingers, it was the least of his problems. "The accident was my fault," says Scott, a successful British businessman. "I was crossing a street in Washington DC early in the morning looking at my emails on my phone," he says. "I was not paying attention, when a taxi mingled on his roof."

Scott was visiting the United States in 2008 after crossing the Atlantic on his yacht. But while he was being rushed to the hospital after the accident, his biggest concern at the time was the collapse of his business in the United Kingdom .

Entrepreneur who made his fortune, Scott created an empire of properties, hotels and bars. And he had a luxurious life. In addition to his yacht, he flew his own plane and drove two Ferraris. In debt at the time of the great financial crisis of 2008, he lost everything.

"When I was in my twenties, the banks were throwing me money," he says. "As I had never seen an economic crisis, I did not understand its disadvantages, then the crisis happened and I was literally destroyed," he recalls. "I avoided going bankrupt, but I lost more than $ 7 million.

Scott says that at first he had a deep depression, but later he vowed to rebuild his business and his life. "I said to myself: you must believe in yourself, you have already done it, you can do it again."

And he did it. Today, eleven years later, his London-based company, REL Capital, has annual sales of more than $ 37 million and his personal fortune is estimated at about $ 30 million. .

Born and raised in Portsmouth, on the south coast of England, he says his motivation to earn money comes from his father-in-law, who owned several candy stores.

A great rugby player and amateur boxer, Scott began working as a doorman in discotheques in 1995, at the age of 16. "Looks like he was too young, but it was legal to work at that age at that time and I was a big guy," he recalls at age 40. "It was a bit difficult – I took bottles a few times – but I really enjoyed this job."

When he was 18, he inherited $ 6,000 from his grandmother and decided to buy a very damaged home. "Even at the time, it was not much money for a house," he says. "But I did it again and I doubled the money I'd received."

So, he started buying more houses to renovate and sell. To such an extent that he claims that at age 25 he had already renovated 250. He also bought hotels, bars and a hair salon. Until 2008 and three months after the accident, he managed to walk again.

As he needed an income, he again worked as a janitor and as a construction worker. Then he wanted to buy properties again, but he said no one wanted to lend money to someone who was almost bankrupt.

Finally, a friend took out a loan to turn a disused church and cinema into nightclubs. Andy claims to have been successful in reviving his business, always keeping an eye on real estate acquisition opportunities.

At present, his company, REL Capital, has a series of activities ranging from pub chains and bars to transportation companies, staff recruitment and a service provider company of film festivals. music.

"It's diverse, but I have experience in all these areas," he says. "We are specialized in buying troubled companies and we make them work." Scott describes himself as a "business man" who, after buying a new business, hires managers to run the business.

"I learned very early on my strengths and weaknesses," he says. "I am terrible with the details, but very good with the numbers, the conclusion of the contracts and going forward."

Recalling how he managed to rebuild his empire, he says it was frustrating that the banks did not second him.

Back in London, Scott says that although his business is larger than before 2008, he is now living more modestly. "When you have lost everything, you become more humble," he says.

"I learned from my mistakes, I had a big overdraft, but now I have no debt and I had Ferrari, but now I have a motorcycle or I have walking."

Go smale

Business Reporter, BBC News

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