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A dad-of-two who lost his highly paid job in the credit crunch was celebrating a first class achievement yesterday after launching a new courier firm to rival the Post Office.
Ragesh Thakrar, 47, hit rock bottom last year when his successful IT consultancy practice was racked by the recession.
He spiralled into depression and admits the loss of the business - which was founded in the 1990s and counted some of the world's largest blue-chip companies including Barclays and Egg as clients- left him on the brink of a breakdown.
But against the odds, Ragesh managed to ''fight off the demons'' and battle his way back to the ''frontline'' of business. He bought a franchise of courier company Mail Boxes Ltd (MBE), and plans to open a new branch in Belmont Road, Uxbridge, later this month.The business will offer residents a ‘one-shop-stop’ for dedicated mail boxes, print and copy services and worldwide postal delivery.
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Ragesh aged 44, who lives in Pinner with wife Bhakti, is now one of 100 franchisees in the UK, and one of 6,000 globally.
He said: ''In my former life I worked with the managers of many blue-chip companies on a daily basis, but with the downturn in the economy, the I.T. market died.
''I went from a highly-paid salary to losing financial control of my life. I never want to be in that horrible situation again.
''I was keen to remain self-employed and in early 2009 began researching what I could do. I was attracted to Mail Boxes Etc because of its status, having over 6,000 stores around the world.
''Mail Box Etc is a successful franchise, having a tried and tested formula. I wanted a low-risk business to get back on my feet, and this seemed ideal.''
Ragesh, a self-taught entrepreneur, launched his IT consultancy in the mid 1990s, just as the internet was coming into its own. Over the course of the next 15 years, the firm built a ''coveted'' client base that included financial institutions Barclays, Egg and Astra Zeneca.
But like many IT firms, Ragesh’s consultancy was devastated by the global economic downturn and Ragesh lost ''total control'' of his life.Despite the loss of an established business, Ragesh used his time out of regular employment to research potential new career paths.
''What I read about MBE sounded exciting but I needed to know more, so I hit the road. I visited 10 stores around the UK to see first-hand how they were doing,'' he said. "It got to the point where every time I visited friends I made sure to ask beforehand whether they had a MBE in their area I could check out."
Founded in America in 1980, MBE has become a leading franchisor of worldwide postal, shipping, document and business services retail centres.
Customers include small and home-based businesses, travelling businessmen, and consumers.
Ragesh said: ''You could say what we offer, complements the things the post office does, but without the long queues.
"We're experts in packaging and worldwide parcel delivery. Whatever you want to send, and wherever you want to send it to, we can get it there safely and securely, using some of the best couriers in the business including UPS, DHL, Parcelforce and FedEx.
"I've given my franchise the slogan 'Pick, Pack, Post' to reflect how simple and straightforward the whole process is. From Picking up your goods, to packing them and finally posting them on your behalf.
"Then we have the mail box side of the business. A mail box is a great investment for those wanting a high street address or 24-hour access to a real box.
"A lot of our custom comes from people buying and selling on eBay, collectors of fine art and antiques and students. We offer tailored packages depending on people's needs." You can contact Ragesh at rageshthakrar@btconnect.com if you would like more on his interesting story.
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