Following the decision by London Camera Exchange in March, another of Britain’s leading photographic retailers has announced a move from family ownership by passing the reins to its employees.
This coincidence perhaps underlines the challenges faced due to the long-term decline in camera sales, the competition from online retailers and the disruption caused by the year-long Covid emergency.
After 50 years as a family-run business, Park Cameras has sold equity to employees and put the company’s management into an EOT (Employee Ownership Trust).
Roscoe Atkins, owner and current managing director, said that the family of employees was the heart and soul of the business, and he was extremely proud of every one of them: “Our continued success and growth over the coming years rests on our experts, so we decided to turn Park Cameras into a fully employee-owned business. The EOT will give us the chance to unlock value within the company and enable the team to become more invested both financially and emotionally in the business, whilst ensuring we never lose sight of what Park Cameras is renowned for.”
Reg Atkins founded the company in Burgess Hill, West Sussex, in 1971. With only £500 starting capital and a range of second-hand stock, Reg grew the business organically with the support of family and friends. His son, Roscoe, took over the running of the business in 2013 and expanded into London with the large store in Rathbone Place, just off Oxford Street. It has become a popular haunt for the capital’s enthusiasts, hosting live events and photo walks.
From a consumer point of view, the continuance of physical retail stores is essential. There is no substitute for a hands-on demonstration and the opportunity to make an informed decision after viewing several alternatives. It is the advice that is so valuable and something that is missing from impersonal web sales.
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Even before this transfer of ownership, the staff have always been very welcoming and friendly. I’ve been to the Oxford Street shop many times to play with the new gear and also buy. I wish them good luck and I’ll definitely keep buying from them. I’ve already decided since the pandemic that I’m going to support high street shops and not buy from internet only businesses, especially for specialist shops like cameras.
Look forward to seeing Park Cameras at the Rutland Birdfair 2022 … always worth a visit for their special offers and the opportunity to try e.g. long lenses … and purchase of discounted s/h items.
I could not write a more perfect comment than the last paragraph “From a consumer point of view, the continuance of physical retail stores is essential. There is no substitute for a hands-on demonstration and the opportunity to make an informed decision after viewing several alternatives. It is the advice that is so valuable and something that is missing from impersonal web sales.
Only as long as consumers resist the temptation of “showrooming”, asking for advice in a bricks-and-mortar store, then turning around and ordering online. I buy from Park Cameras because they sponsor Birdfair, and found their service excellent.
Ah! Two mentions of Bird Fair already…. I agree about the see and buy elsewhere problem. But I think many people are prepared to pay a bit extra for the comfort of personal contact. In any case, Park are quite competitive.
I’ve bought a few cameras from Park: one was the Sony RX100MkVI which – I think – I tried there, but maybe they wouldn’t sell me the demo model which I tried (..shops tend to not sell their demo units, but I like to buy the demo unit of whatever it is which I’ve just tested ..because I’ve seen that it’s working!..) so I put in an order via their out-of-town – Burgess Hill – shop, and they rang me to tell me that it’d arrived at Rathbone Place and I could pick it up.
I’ve bought 2nd-hand lenses there – at reasonable prices – and once went to a ‘photo school’ event (..an evening demo of an Olympus camera, perhaps..) but I found that one to be rather poor ..not enough detailed info, although there was plenty of hands-on ‘try-it-and-see’-ing.
They generally seem to know what they’re talking about, and give fairly unbiased opinions. (Having worked, many years ago, in camera shops, where staff were told to ‘push’ particular brands and models, as there was a better sales commission on particular models in particular weeks, I’m always rather suspect of salespeople’s “recommendations”.)
But I think it’s a rather risky business for staff to buy a shop: you’re all relying on each other to do deals and to keep up the sales volume ..I always think “if it’s such a great proposition, then why did the owner(s) not want to keep it?”
..The rates must be very high in that Rathbone Place shop, as it’s almost on the corner with Oxford Street!
Pearls of wisdom as usual, David. I agree.