Hospitality Gillian and Michael Beare of Finn Lough on the ups and downs of running a business as siblings
The location and the business has attracted the siblings back home from their international careers, Gillian in pharmacy in Australia, and Michael in finance in Australia.“I’d left HSBC, there was a window where I could come back, my parents were in their 60s,” Michael says.Family: four-month-old Fiadh and partner Stuart
Gillian says: “We thought is there something we can do? Can we bring some sort of expertise and try to do something special?” In addition, the business has seen “huge growth” over the past couple of years in people coming for the day to use the spa facilities, according to Gillian. He recounts sitting with his friend’s mother and talking about why he was considering going back to the family business.
Challenges The hospitality sector across Ireland has been hit with rising food, energy, and labour costs, and Finn Lough has not been immune to those challenges.The resort is subject to a UK Vat rate of 20 per cent, considerably higher than the 13.5 per cent rate applicable to the tourism and hospitality sector in the Republic of Ireland.
The resort has now been in the family for over 40 years, and Michael and Gillian have been through succession in taking over from their parents, and also through the process of managing a business together as siblings.
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Fonte: businessposthq - 🏆 8. / 71 Leggi di più »