Interview with Robert Bull, CEO of RoyaleLife

Where did the idea for your current venture come from?

In the past 10 years as the UK’s major developers have turned away from building bungalows, RoyaleLife saw a gap in the market for high-quality single-story homes for those over 45.

The company has risen to prominence over the last five years and is now the UK’s largest provider of bungalow living for this group.

With a heritage dating back to 1945, RoyaleLife is a business with longevity and stability at its heart whilst growing rapidly and evolving into a corporation that is redefining bungalow living.

The company has struck a nerve with the property buying public: indeed, a recent survey says that a bungalow is the most popular type of home for those over 65.

The National Home Building Council, NHBC, also cited releasing capital, low maintenance and low running costs as key contributors for this generation wanting to move.

To address this need, RoyaleLIfe offers a range of fully furnished two-bedroom bungalows with private driveways and gardens at luxurious gated developments, with almost 90 park locations in some of the most desirable parts of the country. Prices start at £149,950 rising to £550,000.

What does your typical day look like and how do you make it productive?

A typical day starts at 6.30 a.m. with a 4,000m row on his machine in his home gym. This is followed by a shower, a breakfast of porridge or peanut butter and jam on toast before a short 10-minute drive to the office for 8.30 a.m.

The first task is when my PA, Jo, presents me with a plan for the day, itemizing phone calls and meetings. Time is blocked out for contact with each of RoyaleLife’s heads of departments to ensure we all have an overall view of the business on any given day.

I consider myself to be health-conscious, so lunch would be a salad at my desk from M&S or a local supplier. The afternoon is spent with more calls and meetings before a finish at around 7.00 p.m. Evenings are reserved for family time — I have two boys aged 5 and 16 — and they enjoy TV, films, reading or watching football — I’m also a fervent Man Utd supporter.

How do you bring ideas to life?

New ideas are of crucial importance at RoyaleLife as the company looks to innovate at every opportunity as they continue to redefine bungalow living in the UK.

With a team of 400, I like to encourage a fairly flat management structure to ensure ideas from everyone in the company find a voice. As market leader, it’s important we stay out in front. Once we’ve got hold of a particular idea, we’ll discuss the pros and cons and fully explore it and, if it has legs, the first step in our process is to cost it out. Managing finances is a top priority. We have a 40-strong team in accounts led by CFO Jason Williams, who is supported by Head of Finance James Harris, Group Financial Controller Cherelle Ball, and Business Development Manager Ashley McVicar.

What’s one trend that excites you?

One of the trends that excites me is downsizing into a bungalow, freeing up equity and using the funds to, perhaps, retire or pursue a better lifestyle without worrying too much about money.

For those people wanting to downsize, RoyaleLife provides the perfect turnkey solution. Offering certainty in an uncertain world, not only will the company enable people to release valuable cash when moving home, but it will make their move a much easier experience. In addition to this, their new RoyaleLife bungalow will be luxuriously furnished and low maintenance.

With the company’s Home Part Exchange scheme RoyaleLife offers the downsizer 100% of the current market value of their home. So, if their current home is valued at £450,000, and a RoyaleLife bungalow is purchased for £300,000 that will leave £150,000 cash. There are no hidden costs: RoyaleLife takes care of the estate agents’ and solicitors’ fees as well as any stamp duty, and, with all the homes fully furnished with all home comforts and the very best appliances, there will be no large-scale removal fees.

What is one habit of yours that makes you more productive as an entrepreneur?

I think it’s instilling in my team that we’re precisely that: a team. People work with me, not for me.

What advice would you give your younger self?

Always take the long view.

As a young man, I could be impulsive. You’re much more effective if you plan well — that’s the focus of everything I do today.

What is something that’s true that almost nobody agrees with you on?

Vision. I can often see what’s coming down the road before other people. I resist saying “I told you so” at all costs but I think to run a large business you have to have a vision. To help hone this ability I’m eternally grateful to have had the experience and support of my father and family behind me.

As an entrepreneur, what is the one thing you recommend other entrepreneurs do?

Don’t be arrogant — nobody likes arrogance in people.

Always have an open mind — no one is ever too old to learn.

What is one strategy that has helped you grow your business?

Sharing the load and taking people with you. Planning the direction of travel is essential and then getting there by a mixture of ambition, determination, and resilience.

What is one failure you had as an entrepreneur, and how did you overcome it?

My one big failure in the early days of building the business was a lack of knowledge and experience in dealing with commercial agreements. I overcame it by an intense and lengthy period of self-education — this entailed listening very carefully to lawyers and accountants and observing how they overcame the day to day challenges they had.

What is one business idea or piece of advice that you’re willing to give away?

My grandfather always said to me: “Buy land, they don’t make it anymore.”

What is the best £100 you recently spent? What and why?

During the summer I made a £100 donation towards a barbeque at Wickham Court, one of our developments in Hampshire.

I had a fantastic time talking to our residents and learning how we’d changed their life for the better. It was heartwarming that my company was able to do that and. I found the experience really satisfying.

What is one piece of software or a service that helps you be productive? How do you use it?

Elite Dynamics software solutions help us manage the business more efficiently. Built on the latest Microsoft Dynamics technology, the software supports all aspects of our operation, including sales & leads, finance & accounting, park management, reservations, owners, marketing, events, activities, memberships and customer relationship management.

What is the one book that you recommend entrepreneurs should read and why?

Into the Upwave: How to prosper from slump to boom by Robert Beckman

Even though it’s more than 30 years old it’s a bible for realism and its insights have been invaluable.

Click here to learn more about Robert Bull, CEO of RoyaleLife >>

Originally published at https://professionaltales.com.