John Hoyle, Founder of Sook: “Sook breathes new life into empty shops”
Meet John Hoyle, Founder of Sook
1. Describe your startup in two sentences?
Sook’s Vision is Space to Connect. From global brands to smaller independents, Sook hosts businesses of all sizes in its network of digitally-connected, flexible, “pop-up” spaces in premium locations around the UK.
Sook breathes new life into empty shops, revitalising high streets and giving businesses the opportunity to test out new markets risk free; brand-build in the real world; host immersive events; and develop more meaningful relationships with customers. These short-term spaces give brands the flexibility to innovate and to drive press, social media reach and physical engagement.
2. What gave you the inspiration?
Sook is the result of me actively pursuing my 'Ikigai' after a life-changing event. Ikigai is a Japanese concept that means "a reason for being" and involves finding a vocation that you love, that you are good at, that the world needs, and not forgetting, that can pay you!
I had previously been a Platoon Commander in the British Army, serving in Iraq, Germany and London, and a property developer in Abu Dhabi and for Grosvenor Estates, and I knew that continuing my corporate life would only partially satisfy these Ikigai requirements. I wanted my future embedded in “social venture”. I gave up my corporate job to become an authentic social entrepreneur, with proprietary knowledge and insight into the problem that I wanted to solve.
The demise of the UK's High Streets was an obvious choice because of the enormous negative social impact and I wanted to build a profitable and scalable business that could address the decline. My military experience, as well as a couple of really bad commercial interactions, meant that I wanted integrity to sit at the heart of what I did.
3. What has been your greatest success to date? And your greatest challenge?
Despite 58,000 shops sitting empty on the UK’s high streets and shopping centres, our challenge has always been convincing landlords that the traditional 10-year lease is broken and few retailers need a physical shop seven days a week.
Our research shows that brands of all sizes are increasingly demanding flexible lease options with fewer financial risks, and better use of data-driven insights to understand when customers are shopping with them or accessing their services.
The Sook model makes physical space more accessible to SMEs and digital natives, as well as giving more established brands the flexibility to experiment with new formats and locations, creating a fully integrated brand experience for customers. This in turn leads to fewer empty shops as it becomes easier for more brands to access them, on their terms, as well drive three times the revenue for a landlord than they would otherwise receive through headline rents. I’m incredibly proud that Sook partners with some of the world’s biggest landlords - including Hammerson, Grosvenor, Derwent and Legal & General.
Since launching in 2019, Sook has welcomed brands including TikTok, Uber, Radley, Vodafone, Raspberry Pi, London College of Fashion, Esports Insider, and Jagermeister, as well as countless other small businesses to our spaces. I’m especially proud of the success we’ve found with young Gen Z entrepreneurs who sell vintage fashion on platforms like Depop - building huge social followings in the process. We’ve had three-hour queues for influencers with millions of followers on TikTok, and we were proud to partner with Depop itself to help launch its ‘Powered by Depop’ initiative: a programme designed to help its sellers connect with customers and sell in the real world. These types of young sellers are the future of retail, and it’s incredibly important there are spaces to nurture them on our high streets.
4. What kind of impact is your business having and how do you measure it?
Sook may be a young business but our ambition is massive: we want to be on every high street in the UK and beyond. Our success is measured by the response to our model, from brands, landlords, customers and the wider industry.
In 2022 almost 300 brands took space with Sook - many of whom return time and again, and who see Sook as a key part of the omnichannel marketing mix. Our 90 TrustPilot reviews from former occupiers are five-star across the board.The vast queues many of these brands drive on our high streets and shopping centres including Raspberry Pi, D-Block Europe, Newcastle United and Heart of Midlothian Football Club - show that the customer appetite for these types of businesses is booming.
Our success is also measured by the number of landlords willing to hand us the keys to prime retail units, in premium shopping locations, keen to see how a Sook space stands up against the usual high street chains and big-name brands.
5. How has Covid affected your business?
Sook was launched in 2019, just before the world changed beyond all recognition. But despite the most challenging set of circumstances to hit retail in a lifetime, we successfully opened multiple Sook sites across the country, significantly grew our team, and welcomed hundreds of brands - big and small - into our spaces.
Of course, much like the rest of the industry, Sook was shuttered for much of 2020 and the first half of 2021, but following the reopening of non-essential retail in April of that year, our business has skyrocketed. We’ve opened ten spaces to date and our innovative model has been recognised across the industry - picking up many awards and nominations along the way, from the likes of Property Week, Retail Week, Draper’s, Retail Gazette, The Spectator and REVO.
Of course, the post-COVID-19 era remains challenging for retail but we know more and more people are coming back to the high street. We believe Sook is in a strong position with its flexible, low cost, low risk approach to connecting landlords with brands, and brands with their customers.
6. When you were little what did you want to be when you grew up?
A soldier
7. If you weren’t doing this, what would be your plan B?
I’d love to make a living as a photographer blending the styles of my inspirations: Terence Donovan, David Yarrow and George Steinmetz. Combining travel whilst capturing incredible moments is a long term goal of mine.
8.What would you save in a fire?
My African Diary, Wedding Album and scrapbook from Iraq
9. Who is your role model/ greatest influence? And why?
My late wife: she taught me everything I know about perseverance, perspective, determination and finding happiness.
10. What is your happy track?
Uptown Funk: Bruno Mars
11. What’s your motto?
Walk as far as you can see. When you get there you’ll be able to see a little bit further (African Proverb)
12. What are you most looking forward to in 2023?
Opening our first Sook spaces outside of the UK