Best ROI than at any time since
For those of us who came through the pioneering days of the 1970s, the 1980s were really exciting times as our industry simply grew and grew. There were already a few large multi-depot companies on the scene and some of them were continuing to expand, but, for the most part, tool hire was the province of the ambitious and enterprising.
It was surprising just how
many large towns, and even the odd city, still did not have a tool hire outlet in 1980. By 1985 this had changed with new family businesses and groups of local branches appearing almost
everywhere.The owners of these hire outlets were all very much hands-on, very often with their families also involved in day-to-day operations.
Exchange of information and trade intelligence were vital and nearly all signed up to the expanding HAE and many took part in activities organised by both it and many ad hoc local groupings of hirers. HAE Regional meetings were organised in 13 areas nationally, very often with attendances topping three figures, to hear a variety of speakers and see demonstrations of the latest equipment or back office technology. Hirex continued to be a
‘must attend’ event and the HAE AGM was always held at that time with noisy participation and fresh ideas or criticisms being lobbied at the governing council.
It was possible to set up in
business for a relatively small investment. Enterprising suppliers now knew that, by nurturing new starters with extended credit or consignment stock, they would quickly grow their own sales.
Battles had to be won with
many planning departments that were unsure of how to classify this relatively new, upstart industry.We were not plant hire, nor were we retail! We had good reason not to be aligned to the building trade because of the tentacles of the CITB, but we needed to build business with that industry none the less. With only the experience of the massive North American market to draw on, a lot of hirers opted to target the public, but this model did not appear to work easily in the UK and inroads to the consumer were patchy. Fortunately, most industrial sectors were more than happy to deal with their local tool hirer and many solid relationships were built. Above all else, the 1980s
were not only profitable, but also enjoyable. Core product lines generated cash and allowed experimentation, new ideas often paid off,
sometimes they didn’t - not to worry, there was always the next challenge. By the end of the decade, a few of the early pioneers were already getting tempting buy-out offers that were hard to refuse and the regional multi-branch outfits were building into national operations. More and more outlets, both independent and corporate, appeared and the warning signs that the good times might be fading became apparent. Our industry got the best ROI in the 1980s than at any time
since.This decade gave us the breathing space to set down roots for the future and enjoy ourselves along the way!
Crosshire was even around in the 1980s!
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