John Taylor Fasteners of Barnstaple
New Premises, New Start and What a Buzz! Report by Peter Brett
It was not much of a hardship for the Editor and I to head down to Devon to interview Richard Taylor (Managing Director) and Mark Gosney (Sales Manager) of John Taylor Fasteners Ltd because Devon is a great place to visit – but also in some ways a difficult place to do business in. The company was founded in Barnstaple in 1988 by John Taylor. Due to John’s
previous working history at Taylor and Sons in the heart of the West Midlands the company was focused purely on the supply of fasteners. Richard Taylor joined the company in 1992 after studying for a business degree. The company maintained a focused product range but was also consistently diversifying over the last ten years.
When the company became a member of THS its profile changed significantly. Membership of THS facilitated the effective broadening of its product offering without necessarily increasing costs. This process of change from a fastener supplier to a broad based industrial supplier has now been further enhanced by a very recent move to new much larger premises with increased visibility, improved customer facilities and a modernized presence. I can vouch for the fact that the new facilities are more open, more user-friendly and very modern – I felt like I was entering a supplier where I would like to spend my money. When asked about recruitment, retention and training of staff, I couldn’t
improve on Mark Gosney’s “take” on the matter and this is what he said:- “As with most businesses, particularly those that operate facing the customer,
the right people in the relevant roles is key to success. The old adage that people buy from people is paramount, and this is considered a major factor when recruiting. Taylors have historically used all the normal roads to recruitment from local advertising, the internet, employment services/agencies and of course word of mouth. However, ultimately it’s a matter of how the individual fits within the workings and ethos of the company. Taylors is still very much a family company, in structure and ethos. I believe that
this is a major element in staff retention. I like to think that Taylors provides a comfortable and supportive work place that allows for the give and take of everyday life and affords an appealing work-life balance in a beautiful part of the country. Training is of course very relevant in what is a fairly technical marketplace.
Training in core business skills can be catered for by the more experienced team members, but product training is very well supported by our chosen partner suppliers. Our experience has been very positive in this respect and I believe that the relationship between supplier and THS has only strengthened that support.” Stocking decisions and stocking control seem to be key in controlling costs and
ensuring that a business has the right stock at the right time and at the right price. Taylors operates around an appropriate stock turnover that then helps define a relevant stock holding figure. The buying of the various commodity ranges is spread amongst key members of the team who in turn work within a parameter. How commitment and investment is mixed within those ranges is left within the remit of the relevant buyer. Any sizeable additions to stock are discussed and action plans agreed to cater for the investment and relevant launch and merchandising of new ranges. Effective marketing, supported by relevant staff knowledge provides the platform for success with new product ranges. Taylors work closely with supplier representatives, THS and employ spot
buying to offer the right range, with the right support at the right price. In general the company tries to offer a mix of promotions including those broadly available, those specific to THS members and a wide range that are as such “tailored” to Taylors. Offering something a little different to the mainstream clearly offers something special to customers and sets Taylors apart from other local companies. Clearly, an up-to-date IT system is critical in the above and the Merlin Business
System by Chatsworth Computers is proving to be key in managing and growing the business, as well as providing solid information in guiding and measuring success. Taylors has also been getting in touch with internet marketing, but it is not a big part of the business at the moment. In the shop, Taylors tries to compete with
12 ToolBUSINESS+HIRE
www.toolbusiness.co.uk
Reply No. 208
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