Ahead of the game, bar none

Lee Chapman doesn't look bad for someone drawing his pension. The 41-year-old ex-footballer-turned-restaurateur owns and
runs two thriving venues in London whose success in a competitive market he attributes partly to careful financial management.

Chapman comes from a relatively humble background which taught him to handle money with care and never spend what he
didn't have. He played football professionally before players were paid telephone number salaries but still earned more than
many of his school-leaving friends.

'I was on ?40 a week in 1978 and that did allow me a fairly good lifestyle. I suppose earning from an early age has made me quite
careful. I got a mortgage and was good at saving so that when I retired from Leeds United, at 36, I had money to fall back on. I'd
made some good investments in property, especially in London, and that really helped me.'

While he sees a mortgage as an investment, it is the only loan he will take in his personal finances. Overdrafts and personal loans
are acceptable in business, he says, because otherwise one would never get a firm off the ground but borrowing personally is
not an option.

Credit cards are his favoured way of spending but he always clears these bills at the end of the month. 'I don't like carrying cash
around too much because I have a bad habit of losing it,' he says. 'And when I'm abroad, it's so much safer to put everything on a
card. That way you're insured if anything happens.'

On retirement from football, Chapman was entitled to a sportsman's pension which he now draws as well as 'pocket money' which
he allows himself from the takings of Teatro, his restaurant and members' club in Soho, London and So.uk, his bar in Clapham,
South-west London. He prefers, however, to reinvest most of the profits into the venues and is working on another project in the
capital.

In addition, he laughs, he can always ask his wife, actress Leslie Ash, for a 'sub' if he's a bit short. But, he says, she is far worse at
managing finances than he is and is unlikely to be able to help him out.

Establishing himself as a serious player in the London restaurant and bar trade has been tough. 'Most people think a footballer
should run a pub,' he says. 'It seems to be the traditional view.'

Being part of a celebrity couple does not necessarily help him in business. 'I suppose it can help pull in the odd big name. But
people only really give a venue one chance to impress them,' says Chapman.

'And if you are a well-known name associated with a different profession, acting for Leslie and football for me, it's harder than
ever to convince your customers.'

Teatro, however, has a 98 per cent renewal rate on its membership, so things are looking quite good at the moment. The
restaurant, which is also open to non-members, is high on the list of recommended London eateries and So.uk is now established
as one of Clapham's top night spots.

London is ruthless and very fickle when it comes to bars and restaurants and their success. 'The common mistake is to
undercapitalise,' says Chapman. 'Rents and rates are very high and to make an impact on the London scene, you need to spend a
lot on overheads. Three months later, you need to invest more to keep the attention and fidelity of your customers. It's about
keeping ahead of the game,' he says. And he should know.