Ambitious six year growth plan for transition

Where The Business Was

  • Metal fabrication business with turnover of $8,000,000 in 1998
  • Since 1979, business had grown slowly but consistently

Problem

  • Owner wanted to set key growth goals for next 6 years
  • Consolidate business into new premises 
  • Increase automation
  • Reduce debt to zero
  • Transition ownership to next generation

Solution

  • Implement strategic plan with achievable growth goals
  • Prepare owner’s son for succession

Implementation

  • Conduct strategic planning review
  • Implement strategies for achieving revenue target of $16,000,000 per annum within 6 years 
  • Coach and advise owner’s son to assume role of managing director

Results

  • As at June 2005, sales exceeded $22,000,000 per annum 
  • Business relocated to brand new, purpose built premises
  • Profitability increased significantly
  • Undertaking ongoing strategic planning work for new managing director