ICON Business Solutions: Industry Case Study - The Transport & Freight Industry

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ICON Business Solutions

  Opportunities:
In the UK
  Business Type:
Franchise
  Minimum Investment:
£34,950
  Training Provided:
Yes
  Home-based:
Yes
  Part time:
Yes

Summary: Leveraging the Owner out of the Business

The Client/Sector: Transportation/Freight

The Goals:

The Owner wanted to get out of the business within a 10 year period. It was very clear that the business owner wished to make more profit so that he could employ somebody to do some of his work and allow him time to enjoy his life and to keep him away from employee problems.

Business in Profile:

Owner was in business for 20 years. The business owner had a solid business that was consistently profitable and growing at about 10% each year. He had a good reputation based on his own personality and work ethic. His turnover was about €1m.

The Challenges:

Information was not kept in the business. He knew what was in his bank account but had no knowledge of his key markets, his profitability, his budgets or his expectations. In other words, he had built up a good business but was doing it the hard way.

He typically worked from 6.30am until 10pm, 5 days a week and did cover on Saturday and Sunday for his drivers. It became clear that he was spending 60% of his time doing the work of his driver.

Strategies:

  • Critical time was spent with the business owner and his staff to analyse the different sectors of his market and customers so that he could clearly see what markets he was actually in, how much money he was getting from these markets, and how these sectors had performed.
  • An analysis was carried out to find out exactly the business owner did during the day. To reduce his hours a part time driver was employed to take early morning jobs and a part time driver to take a night job. He had been afraid to do this in the past as he was uncomfortable asking his employees to work unsociable hours and he also felt he could not afford to do it.
  • We then spent time reducing his employees dependence upon him by the simple expedient of him asking the same question of all problems “how would you solve that?”

The Outcome:

  • Immediately his working hours were now between 7.30am and 7pm. In no time at all, he had time to think about marketing his company in a planned format. He is now on his way to developing 40% growth in two target markets, managing a reduction in two markets and maintaining a 10% growth in his remaining markets.
  • This business owner now knows what his business is doing, and how he can influence his business. He is now working on systemising the business so that when his increased profits allow him to employ a General Manager, it will be a smoother transition.

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