Growing Your Dad’s Business While Preserving His Founding Values

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Taking over a business that was started by one of your parents has its challenges, not least setting out ambitious plans for its growth, while maintaining the values and standards that they set out all those years ago.

Six acres of land were also secured to double storage capacity, increase parking and grow the offices in future years. The entire TIMCO product range was re-branded, with online sales now accounting for over 50% of all sales, up from 20% of sales a year ago.

The business sources its products from the Far East rather than the EU, and so wasn’t as badly affected by Brexit as other companies, however shipping to Ireland with the additional customs checks has not been without its challenges. “Even so, our sales there are up 8% year on year,” says Midwood. “There have been supply issues but we keep a large amount of stock, typically five to seven months’ worth, which have acted as a buffer. We currently have £34 million in orders with the Far East.

His team also observes the company’s ‘Dear Mum’ principle. To achieve its goal of maintaining a respectful working environment and award-winning service staff are asked to treat customers, suppliers, and colleagues as if they were their mother or their closest loved one.

 

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