Executive Hire News › Archives › January/February 2009 › Executive Report : Next-door opportunity

Executive Report : Next-door opportunity

Just over a year ago, Dave Taylor knew little about hire. Now he owns and runs a successful independent business in Penrith. Alan Guthrie reports.

Having started in paid employment 20 years ago at the age of 13, Dave Taylor has always been a ‘hands-on’ person, training as a mechanic and working in the rail, transport and construction industries. However, two years ago he tired of working for others and explored opportunities to work for himself in his local Penrith area.

“I considered various franchising ideas, but I really wanted something that related to my mechanical background,” says Dave. “One day I mentioned this to my next door neighbour, Ian Simpson, and he seemed impressed by my commitment and enthusiasm. We talked more, then two weeks later, in February 2007, he asked me if I might be interested in buying his business, Penrith Tool Hire.

“Ian founded the company in 1981 and had built up a loyal customer base. He did not want to sell out to a national hire group, and I was flattered that he believed it would be in good hands with me.
The more I saw of Penrith Tool Hire, which occupies an industrial estate unit in the town, the more I was excited by hire, and I could relate to a lot of the equipment in the fleet.”

The deal was eventually completed in December 2007. “I hit the ground running, having just a two-day handover working alongside Ian, and then I was left to it, supported by a great team of staff. We have a high proportion of account customers including small tradesmen, and we serve a lot of landscapers who are constantly coming to us to hire the next machine they require for the seasonal work associated with on-going maintenance contracts. I aim to appoint a sales rep shortly to develop more business.”

Customers cover a wide area. “We supply as far as Carlisle, Cockermouth, Keswick, and over the border into Scotland,” says Dave. “People prefer our more personal, flexible approach. If there’s a problem, we’ll sort it and retain their future business.” Popular fleet items include Belle mixers, Makita disc cutters, Birchwood lighting and site electrical products, and Nilfisk-Alto pressure washers, amongst others. Rover lawnmowers, marketed through Midland Power Products, are in demand owing to their durability. “They can be fitted with Honda or Briggs & Stratton petrol engines, and contractors love them. We also do good sales business including Toolbank tools, and consumables such as DTAS-Duro diamond blades and Dronco grinding wheels.”

Fully computerised

Penrith Tool Hire is shortly to go live with a Syrinx program from Higher Concept Software, replacing a manual system, to handle
day-to-day transactions, invoicing and management reports. “We learned about Syrinx through the NTC UK training consultancy, who initially came to give us PAT test training and advice on Health & Safety policies. Its Director, Craig Normington has helped us move from a manual accounting system to a fully computerised one using Sage Line 50, and allowing us to track all aspects of the business.”

Just over a year since starting on his new career path, Dave has no regrets. “It’s been a steep learning curve, but I’ve been like a sponge soaking up information about hire. We are looking to expand the fleet with micro diggers, skip-loading dumpers and chippers, as well as investing more in staff training. Above all, I and the rest of the team get a real buzz from helping people, from getting the right equipment for a task, to taking a few minutes to fit a new chainsaw chain. It puts a smile on the customer’s face and gives us a great sense of achievement.” •

01768 864557
www.penrithtoolhire.co.uk