Ian Coulter

Owner: Ian Coulter
Business Name: Sophie’s Cottage
Business Location: Derrylin, Co. Fermanagh
Business Launched: 1 April 2007
What where you doing before you started the business?
I was running a 70 acre suckler farm and also worked off farm as a part-time bus driver.
What resources did you have to begin with?
I am married to Elaine and we have four boys who help out at home and on the farm. Elaine realised that there was a need to think of diversification ideas beyond mainstream farming activities, as a means of generating an additional source of income.
Why did you choose the type of business that you did?
I was out cycling with the boys when I spotted a derelict thatched cottage at the edge of the road, which was for sale. I discussed the possibility of buying the property with Elaine. She was enthusiastic about the idea and could see the potential it had. It was her idea to turn it into a self catering holiday home, which could provide additional income for the family. The importance of keeping the family working together was also an important factor in our decision to diversify. I felt that the introduction of new farm nutrient policies would substantially increase capital investment on the farm resulting in a reduced return. Diversifying into tourism would still require investment but I considered there was a better chance of a financial return. So as the goal posts had been moved with the farm nutrient policy, I decided to reduce cattle numbers, establish a sheep flock and diversify into tourism.
What prompted you to go ahead with the idea?
The decision to go ahead with the project was prompted by a growing realisation that alternative sources of income to farming would be required to support the family in the longer term. After having purchased the derelict cottage Elaine and I set about the arduous task of planning the restoration of this listed building in a manner that maintained its traditional character and allowed it to function as a high quality, self-catering facility. There was much discussion between the architect, planners and the family as to what was achievable with the renovation of this listed property. Elaine was aware of a significant number of two and three star self-catering units in Fermanagh and she proposed we should focus on a five star product that catered for a particular market segment.
The cottage has now been fully restored to 21st century standards but yet retains the charms of an Irish thatched cottage. It’s ideal for those who prefer the independence of self catering but want the luxurious ambiance of a 5 star holiday. Ideal for romantic getaways, or a place to relax and de-stress after the busy working week. The kitchen is fully modernised but has a country charm, the living room has a woodburner stove, widescreen television and stereo.
I got advice from Alex Cromie, Rural Enterprise Adviser with DARD, and he suggested we took part in the CAFRE business start programme. The course was informative and helped generate ideas as well as offering specific support with the development of a quality website. We place real importance on marketing and Sophie’s Cottage was featured in Irelands Homes and Interiors magazine in November 2007 as well as in the Guardian newspaper’s tourism supplement, as one of the top ten self-catering tourism destinations in the UK in July 2008.
What have you found to be the benefits of starting your own business?
The whole experience has enabled the family to work together and gain skills and experience beyond the core farming business. Although the business will take time to build up we believe it will deliver real benefits in the longer term.
What advice would you give anyone thinking of starting a new business?
- Know the market you are targeting and ask yourself is there a demand for what you are offering.
- Take time to plan your business and make sure you have sufficient working capital to see you through your first year of trading.
- Don’t take your business for granted, once you get up and running you have to continue to market and always aim to be one step ahead of your competition.
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