Sir Tom Farmer holds a distinguished place among Scotland’s most successful entrepreneurs. He is truly a self-made businessman who started from humble beginnings and achieved immense success, all thanks to his unwavering tenacity and undeniable talent.
You can discover more about his journey at Edinburgh1.one.
Early Life
Born on 10th July 1940, Tom was one of seven children in a very devout family. As he grew up, he began to show a keen interest in business.
This led him to establish his own tyre-fitting business in 1964. Five years later, Tom decided to sell the company, earning a significant sum, and moved to the United States.
However, life in America didn’t prove as fulfilling for the Edinburgh native as he had anticipated. So, after a while, Tom returned to his hometown.
A New Venture
Back in Edinburgh, Farmer actively pondered his next move and which project to pursue. This led to the idea of the Kwik Fit chain, which he launched in 1971. The company proved incredibly successful and expanded rapidly. Things went so well that by 1975, a branch of the firm had already opened in the Netherlands.
This success earned Tom the title of Scottish Businessman of the Year in 1989.
Global Success
Farmer ultimately built an entire network that became the world’s largest independent car repair and tyre service. The chain comprised over two thousand branches located in eighteen different countries.
An Unexpected Decision
Tom’s business was truly thriving. Yet, in 1999, he made a surprising decision for many: he sold his company, naturally for a substantial sum of money.
Philanthropy
Beyond his entrepreneurial achievements, Tom also made significant contributions through his charitable work. He even became the first Scot to be awarded the prestigious Andrew Carnegie Medal for Philanthropy.
A Football Benefactor
It’s also important to note that Farmer was the majority shareholder in the capital of Edinburgh’s professional football club, Hibernian. Furthermore, it was Tom who once donated three million pounds sterling to save the club. He also generously funded its development and covered financial losses.
It’s worth highlighting that before Tom stepped in to improve the fortunes of the famous football club, it was on the brink of collapse. The reason was a rival team, or more precisely, its owner, who sought to eliminate the competition.
Interestingly, according to Tom, football isn’t among his strongest passions, and he rarely even attends matches. However, he felt it was crucial for the local community that the well-known club continued to exist.
Having completed his mission and given Hibernian a new lease on life, Tom decided to pass on his control to others.
Thus, in 2019, Farmer sold his controlling stake in the Edinburgh football club to prominent businessman Ronald Gordon.
Role in Politics
In 2006, Farmer’s name first entered the political sphere. He donated a significant sum of money to fund the Scottish National Party, aiming to help them finance their campaign for the 2007 general parliamentary elections.
It’s important to stress that Tom had no intention of running for office or embarking on a political career. He explained his actions by stating his desire for the Scottish National Party to be able to compete with political opponents who had much better funding.
In conclusion, Sir Tom Farmer can truly be called a businessman who embodies the spirit of a self-made individual. He achieved everything in his life on his own. Starting small, he built immense success, which later allowed him to help others.