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Executive Report: “Strength of purpose” Robert Aplin finds Richard Coffey, MD of Supply (UK) Hire Shops, in excited mood as the hirer is set for further growth, with six more branches planned before January next year. Having first met up with ‘instinctive’ entrepreneur Richard Coffey three years ago, we have kept a close eye on his progress as he builds Supply UK Hire Shops into one of the most dynamic independent tool and equipment hirers. At the start of this year, we seriously considered it for the No. 10 position in our 2007 Tool Hire Top Ten as it was growing at such a pace. In the year to April 2006, Supply (UK)’s turnover from its 19 outlets, including two on-site operations, was £5.6m and, at that time, Richard Coffey expected turnover to have grown 60% to £9.2m in the year to April this year. In the year to April 08, Supply UK budgeted like-for-like turnover to be £11.5m, though current run rates suggest £12.5m to be much more likely. Not content with this, he is now ready to take Supply (UK) to the next step, by opening six additional branches between now and January, which, he believes, will contribute, on average, another £4m to the company’s annual turnover. In addition, Supply (UK) is planning up to four on-site set-ups. The company also now operates from new Head Offices in Fallowfield, south Manchester, having moved out of its central Manchester branch, close to Piccadilly station, in August last year. “It was important to move away from the operational depot into a separate function. We have also upgraded our Higher Concept software systems. All branches are now networked and we are running ‘real time’ information for our customers.” Senior management appointments With Phase 1 of the company’s next growth strategy now under way, it has strengthened its management team by making two senior appointments – with another promised high profile executive still under wraps – joining the existing management team of Richard Coffey, Operations Director Scott Mulley and FD Chris Haycocks. According to Richard, “before we grow again, it is important to put the expanded team in place.” Joining as Group Sales Director is Billy Cooke, who was most recently Field Sales Director with Brandon Hire. In total, he spent eight years with Brandon, having previously been a Regional Director. In a 13 year career in hire, Billy has also worked for HSS and A-Plant. Effective from the first of this month, Supply (UK) has also appointed Jim Field as Group Buyer. He was previously Procurement Director for AMEC Plant Services. Describing the Supply (UK) operational heartland as the north west of England, the Midlands and Yorkshire, Richard states, “the first move involves strengthening the Midlands region and driving further south from there. “The first of our new branches will be 12,000ft2 in size, and this will be the largest of the new outlets. Smaller units, about 2,500ft2, will be in-fills between our existing outlets. We expect the average size of the new branches to be about 6,000ft2. ‘One-man-armies’ “We will continue to open these outlets on the back of an individual, who is a ‘one-man-army’.” In our October 04 article, Richard described these individuals as ‘managing a large client base that they eat, drink and, possibly even, sleep with, and have become personal friends with these customers.’ He now adds “Quality people increasingly recognise that Supply UK will enable them to express themselves, rather than being constrained by having to spend all day in the bureaucracy of national hirers. “We have a proven method of operating and are demonstrating a real strength of purpose to grow the business. We have got the important things right. There is a real commitment and passion at Supply UK. Phase 1 is to establish these next six outlets quickly. Phase 2 is to achieve semi-national coverage and our over-riding aim is to operate 40-45 branches within the next three years.” Richard Coffey is still very much a man on a mission and there is little doubt that Supply (UK) will feature in the 2008 Tool Hire Top Ten. • Executive Hire News › Archives › October 2007 › Executive Report › “Strength of purpose”
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