Fred Done is the sort of man who, as he'd put it, quietly, has "got a few quid" and bought a swimming pool, but only because he likes swimming. Short and trim and 58, Fred likes running, too. Last year he ran his tenth marathon, in New York, and last week he opened his 250th betting shop, in Scarborough.
Done slips these titbits into the conversation, without self-importance or self-promotion. A lovely Lancashire man, Fred, the best kind of self-made man, a bit like Jack Berry. When he talks about the special offers in his shops-they call him The Bonus King-Fred hesitates, not wanting to be thought to be sneaking the chance to advertise.
"There's only one person you have to please," says Fred, "and that is the customer." When Done says it, you believe him. "He's the guy we can't do without. I've always bent over backwards for the customer, and our industry hasn't always done that. In some companies it's an afterthought."
Done reels off a list of innovations and bonuses, including "double results", commonplace in Ireland but a rarity in Britain, where punters are paid out on a disqualified winner as well as on the promoted horse.
Bonuses have done Done proud, except on Frankie Dettori Day, in 1996, when they boosted what were already horrendous payouts. "It was the most worrying day of my life. When I got home that evening, I found out that even my gardener had won £10,000 from me. He didn't know until I told him.
"On the Monday, I sat down and wrote out a complete cheque book, and not one cheque was for less than £25,000, and I felt happy when I'd done it, because at least I knew what the figure was. I'd lost about £1.5 million."
Done doesn't fuss about it. He started with nothing, he's made a fortune, he carries it modestly, and loves his life, and values his family and his health and his luck, and is still Fred Done.
For perhaps the sixth biggest bookmaker in Britain, and not just a bookmaker, Done's is a rarely published name. "I've not wanted to be high profile personally," he says. "I'm not a politician. I'm not good at it and never will be." So he has crept up the league table of bookmakers, turning down approaches from bigger rivals, and spreading his wings.
When Fred was 16, in 1959, before betting shops were legal, he started work for a bookmaker, as a boardman. In the early sixties, he worked as credit manager for Peters, a Salford firm. Then, in 1967, he set up on his own, in Salford, with one shop. It was almost his last.
"We started in September and, two weeks later, the foot and mouth outbreak began. I had no cash, no capital whatsoever, but was saved by the dogs. Afternoon greyhounds had just started but, with the horseracing off, most bookmakers didn't think it was worth opening. I had to, and it kept me going."
Ambitious now, Done was less ambitious then, which he regrets. "My idea then was to make a living rather than a big business. For years I was too parochial. I had a rule not to buy a shop more than 20 miles from Manchester.
Until about ten years ago, progress was slow, then I bought a chain in Newcastle and that spurred me on. Now, distance is irrelevant."
Done has his headquarters in Manchester, but his shops stretch from Plymouth to Newcastle, and he wants more. "My ambition isn't numbers," he says, "although I want numbers. It's quality. We've got to be careful not to dilute the quality of our business. I want to give good terms to our punters and good conditions for our staff."
He would like to buy one of the big bookmakers, but admits that is a dream rather than a realistic ambition, partly, perhaps, because Fred's is a private company, and he intends to keep it that way.
"I'm the last person in the world to float a public company," he says. "I couldn't live with a public company, with the shareholders. I'd be unemployable. We've had numerous approaches, but I've never got as far as discussing figures with anyone.
"I don't need money; that's been taken care of years ago, but I've still got ambition. I wish I was younger and could start again. Next time I'd be more aggressive and expand earlier."
Running a big business, with 1200 employees, isn't a chore for Done. He loves it. "I enjoy it more now than when I was 24. I can't wait to get into work, and I'm in before 7.30am most days. Don't get me wrong, I have a very good team behind me. You've got to give them responsibility, and delegate, which I used to be bad at. Now, I do take plenty of holidays."
Fred's taking one now, in Dubai, which he loves, and, in his modest way, he talks about his love of fine food, and of staying at some of the best hotels in the world, and touring France, for its restaurants.
For that, Done says he has Liverpool's fans to thank, because what Done is best known for is offering over the odds against Liverpool, and paying out early on bets for Manchester United to win the championship.
"I've been watching Manchester United since I was seven," he says. "I'm a rabid Red. As a bookmaker, I often couldn't go to matches but, whenever I could go, I did. I've got to thank Liverpool's fans for what they've done. They've sent me on holiday to some lovely places."
Done casually mentions that Fred Done, bookmaker, isn't his only business. He's got a string of businesses, including The Lincoln restaurant in Manchester, and Peninsular Business Services, run by Fred's younger brother, Peter, and employing 350 people.
Oh, and he's also got Sports Tour International, which he bought from the official receiver for £2,000, invested £50,000, and is now worth a few more noughts.
But, after this month's helpful Budget, Fred expects the betting side of things to flourish, too. "The prospects of success are better now than I've ever known them," he says. "This year, our big hitters were still coming into our shops, but they were using mobile phones to bet offshore. Now the Government have given us a level playing field and we can compete. It's an exciting time."
For Fred, I think it probably always has been. by Racing Post 23/03/2003 BACK TO TOP ^ |
