How silly of me not to qualify The Next Big Thing. It’s got to be in a big marketplace.
I hook up with my chum Ed Hardy. He thinks the next thing is cars. Then, I remember all the people I met on summer holidays who’s parents had second homes… they all worked in the motor trade. Everyone needs a car.
I think of Carphone Warehouse. Everyone needs a phone these days too.
I think of Glasses Direct. Not everyone needs glasses – nor do you make a pile of loot selling discount specs.
I think about gardening (because Ed and I met for lunch at Wisley, the Royal Horticultural Society gardens – which is mobbed). And, I think of the Mandrake Club speaker who runs the Caravan Club, who said that CC is the second largest membership organisation in the UK after the Royal Society for the Protection of Birds.
Then, I think of the consulting brainstorm session I once attended with OC&C where the spreadsheet analysts focused on the highest price thing that was the smallest to fit on the shop floor to therefore make the most money – answer: jewellery!
So, the biggest next big thing has got to be a car-caravan retail outlet selling diamond bird broaches. (Authentic ones, at that – see previous). And, by rights, this will have margin pressure because everyone else will be in the market swiftly.