Richard Branson Space Ship

After failed attempts to grow and sell both Christmas trees and budgerigars, Branson launched his first successful business, a magazine named Student, in 1966. The first issue of Student appeared in January 1968, and a year later, Branson’s net worth was estimated at £50,000. Branson started his record business from the church where he ran Student magazine. He interviewed several prominent personalities of the late 1960s for the magazine including Mick Jagger and R. D. Laing. Branson advertised popular records in Student, and it was an overnight success. His business sold records for considerably less than the “High Street” outlets, especially the chain W. H. Smith. Branson once said, “There is no point in starting your own business unless you do it out of a sense of frustration. ” At the time, many products were sold under restrictive marketing agreements that limited discounting, despite efforts in the 1950s and 1960s to limit retail price maintenance.