In 2007 Laban Roomes was an up an coming entrepreneur dreaming of a big future. Six years and one Dragon’s Den appearance later, and Laban is a global business mogul at the top of the international gold plating industry. We caught up with Laban to learn more about his remarkable success story.
How did Goldgenie launch? What were you doing before Goldgenie?
I have always been a hard worker. Growing up in a poor family, I started work at an early age to help my mum out. I did a bit of everything, from cutting hedges to buying cars and shipping them to Jamaica, and by the age of 19 I had paid off the mortgage on my family home. Things were going great until my business partner sold my business behind my back and I was left with nothing. It was a really dark time in my life and I was sleeping on a friend’s living room floor whilst I tried to come up with an idea that would get me back on my feet. I remembered a gold plating system that I had seen in America the year before, and that had always stuck at the back of my mind. I drew up some plans for a portable gold plating device and had one made, and that’s when Goldgenie was born.
Did you know you wanted to be an entrepreneur before you launched Goldgenie?
Absolutely. Even from a young age I had lots of small businesses on the go, as I just had an eye for making money. I always loved the idea of being my own boss, coming up with new ventures and being in control of my own future.
Laban Roomes and Goldgenie
In 2007 Laban Roomes was an up an coming entrepreneur dreaming of a big future. Six years and one Dragon’s Den appearance later, and Laban is a global business mogul at the top of the international gold plating industry. We caught up with Laban to learn more about his remarkable success story.
How did Goldgenie launch? What were you doing before Goldgenie?
I have always been a hard worker. Growing up in a poor family, I started work at an early age to help my mum out. I did a bit of everything, from cutting hedges to buying cars and shipping them to Jamaica, and by the age of 19 I had paid off the mortgage on my family home. Things were going great until my business partner sold my business behind my back and I was left with nothing. It was a really dark time in my life and I was sleeping on a friend’s living room floor whilst I tried to come up with an idea that would get me back on my feet. I remembered a gold plating system that I had seen in America the year before, and that had always stuck at the back of my mind. I drew up some plans for a portable gold plating device and had one made, and that’s when Goldgenie was born.
Did you know you wanted to be an entrepreneur before you launched Goldgenie?
Absolutely. Even from a young age I had lots of small businesses on the go, as I just had an eye for making money. I always loved the idea of being my own boss, coming up with new ventures and being in control of my own future.
How was your experience with Dragon’s Den?
Dragon’s Den was a fantastic experience and since I appeared on it in 2007, my life has been a whirlwind. However, after I was selected for the show, nerves got the better of me and I pulled out at the last minute. It wasn’t until the third time I was asked to go onto the show that I actually decided to go through with it. That decision was made after a good friend of mine had passed away, it made me realise that you should make the most of every opportunity, and I’ve never looked back since.
Would Goldgenie be here today without Dragons Den?
Appearing on Dragon’s Den and winning investment from James Caan has no doubt been a huge impact on the success of Goldgenie, and I am incredibly grateful for the financial support and opportunities the show has given me. However, I am a very ambitious and determined person so there is no doubt in my mind that Goldgenie would still have been a success without Dragon’s Den. Before I appeared on the show I had been flown to Los Angeles to gold plate 55 mobile phones for Emmy Award winners including Denzel Washington and Helen Mirren, so I was already on my way up before the show.
Would you advise other would be entrepreneurs to seek mentors/investors?
Of course having the financial support is important to any entrepreneur starting up a business. However, more important than that is having a mentor to support and advise you. Advice and guidance is priceless, which is why I now spend a lot of time supporting other aspiring entrepreneurs in launching their businesses. It’s my way of giving something back to the business community.
What’s the highlight of your career as an entrepreneur to date?
There’s been so many highlights, but I think being approached by Elton John to design a 24ct.gold plated iPod for his annual White Tie and Tiara Ball auction is one of the highlights. Twelve iPods were auctioned off to VIP guests including Will Smith, raising more than £100,000 for Elton’s AIDS Foundation. We also sold the product in Harrods and Selfridges, and they have been our most successful product to date.
Is the recession affecting your business?
Many of our clients are from the Middle East, Russia or Asia where their economies are growing rapidly and there is demand for high end luxury products like ours. Our business is continuing to grow year on year and we have been lucky not to have been affected by the recession unlike so many others.
Tell us about how you are now franchising Goldgenie in the UK and abroad?
We offer international master franchising as well as low entry level business opportunities here in the UK. We have 18 master franchises worldwide, including Italy, South Africa and most recently Bahrain. The business opportunities are also very popular and allow individuals to set up their own gold plating business for which we provide a complete business solution, training and support.
What is in the future for you? Are you looking at new businesses outside of Goldgenie?
I’m 100{e006f0a27f57b8027fcb119df6b50dc52cfbc299b4f1ec30b2707345be043b12} focused on Goldgenie at the moment. The company is constantly evolving and I want to focus on growing the business and introducing new products and services. Not only do we sell luxury products such as 24ct.gold plated iPhones, iPads and Blackberries, but we also have a customisation service where we gold plate bathrooms and even temples and mosques. There is an increasing demand for all of our services and I don’t intend on taking my eye off the ball any time soon.
Do you have an inspiration in the business world?
They say you should never meet your idol, but given the opportunity the one business mogul that I would like to have met would be John D Rockefeller. His business and life story inspired me from a young age.
If you could offer one piece of advice to young entrepreneurs, what would it be?
I would encourage young entrepreneurs to really think about exactly what it is that they want to achieve and to keep that at the front of their minds. Everyone’s image of success is different, so it’s important that you can visualise your goal and focus on achieving it. We all lead busy lives and it can be easy to become distracted on what it is that we really want. Stay focused and anything you desire can be yours.
[Via Make Money Magazine]
