| |
Irene Ramsperger
Irene Ramsperger President
Company: Havelock Metal Products Inc., Havelock, Ontario
Contact Info: Tel: 705-639-2857 e-mail: info@havelockmetal.com
Web site: www.havelockmetal.com
Description: Serving the construction and home renovation industries
since 1993, Havelock manufactures and sells metal products. Its complete selection
of metal roofing, siding and trim is used for residential, agricultural, commercial
and industrial purposes. Specialists in trim and flashing, Havelock has an in-shop
trim fabrication facility to do custom work.
Background: Formerly a journalist, Irene was lured into the world of
steel after helping her husband in his arena construction business. Due to the
increasing inquiries and demands of customers looking to buy additional steel,
she saw the potential. "It just looked financially smart to be in that
business", so she focused on the steel, and started growing her own business.
Despite the huge challenges facing a woman in this male-dominated industry,
Irene was determined. "I believe in perseverance and persistence, looking
for solutions and simply not giving up when the problem gets too big."
She credits her suppliers for "giving me industry insight" which has
helped her grow and prevail in an industry where many have fallen by the wayside.
Unique Feature: The only manufacturer of metal trim/flashing in east
central Ontario, Havelock roll forms its own product and sells directly to consumers,
saving them 15-20% over other outlets such as lumberyards which resell product
from larger rolling mills. Compared to competitors, Havelock also has the shortest
lead time for order fulfilment - in some cases a mere 24 hours from customer
order to pick up.
Path to Growth: Starting solo, Irene now has a team of nine, and upgraded
from the original facility of 2,000 sq. feet to a new plant of 6,500 sq. ft.
Early on, she bought all inventory ready-made from suppliers. Gradually, she
bought her own equipment that allowed Havelock to take raw material and manufacture
its own trim and flashings. In 2002, she purchased a rolling mill to produce
the roofing and siding, increasing sales by 40% and improving margins. Every
year, new equipment is introduced to enhance and increase the firm's manufacturing
capabilities. "Making your own product gives you more control over your
business." Irene constantly sources new product ideas. Her sales now reach
into the millions, and her goal is to double them in the next two years.
Key Success Factors: These include providing an excellent product at
an excellent price, quick turn-around on custom orders, top-notch customer service
with a smile, teamwork and a drive to succeed. An increasing interest in steel
construction products over traditional asphalt shingles and vinyl siding has
also helped fuel Havelock's growth. And Irene credits her staff for much of
Havelock's success and growth. "When the team feels connected to the company,
they find solutions and generate innovations that benefit everyone. And they
understand that happy customers mean our continued livelihood."
Financing: At the outset, financing was difficult as the company was
working from a rented facility and had no assets to offer as collateral. So
Irene negotiated excellent purchasing terms with her suppliers to stock a wide
inventory. For suppliers offering good discounts, Irene reciprocates with cash
on delivery or payment within 10 days. She then passes the benefits on to her
customers by offering them excellent prices in return for cash. "This keeps
suppliers and customers happy and maintains good cash flow by minimizing receivables
and unnecessary financing of overheads." The cash is reinvested into equipment
and more inventory to foster growth. In order to purchase the roll mill equipment,
she accessed an RBC Royal Bank lease.
Other Support: Irene's husband, Guy, joined her soon after she started
the company, and they work together as a team. He manages, with invaluable expertise,
all aspects of the business related to the actual manufacturing of the products
and all mechanical operations. "I have gained a tremendous amount of wisdom
and knowledge from Guy. I knew very little in terms of metal products and/or
the construction of metal applications. He has guided and encouraged me from
the very start. I saw Havelock Metal's potential in terms of future demand and
profitability but I attribute the company's success to working together and
managing responsibly as a team. It's often said that most husbands and wives
cannot work together and then live together in harmony. We - as a team - are
one of the lucky few!" Irene also credits her accountant, a woman she relies
on for solid financial and tax advice. Mike, the eldest son, helped out in the
business over the years but he has since spread his wings and launched his own
construction enterprise that includes roll forming eaves trough systems. Danny,
the youngest, just turned 13 and helps out occasionally.
Biggest Challenge: Being a woman at the helm of a small company that
challenges larger, well-established firms for market share. "They have
tried to flatten me more than once, but that only makes me stronger and I find
even more innovative ways to manoeuvre around them."
Biggest Lesson Learned: "When you take 'I can't' out of your vocabulary,
anything is possible. If a man can reach the moon, so can a woman."
Growth Tips:
- "Do detailed projections three years out on every aspect of your business
- your market, sales, operating costs, advertising, everything - and do them
well in advance. This allows me to anticipate any obstacles and find solutions
to ensure I can grow at the pace I want."
-
"You must eventually free yourself to do the strategic planning, so
learn to delegate. It's tough to let go of control but you must allow the
staff you have nurtured to handle the day-to-day operations. Have weekly meetings
and don't be afraid to hear about the bad along with the good. Encourage creativity
in problem solving and give trusted staff your perspective and complete support
because you can't do it alone."
Future Plans: Although exploring export possibilities in the U.S., Irene's
main focus for now is on servicing eastern Canada. "There is a great market
right here at home with nowhere to go but up. I could grow tenfold before reaching
my peak."
Personal Interests: Irene enjoys the occasional game of golf but confesses
"for the most part, I delve into the business 24/7." Even though she
and her husband are both in the company, they manage to find family time. "It's
surprisingly fun. We talk about business at home, but we've learned to turn
off the switch and say now it's time for ourselves and our two children. I also
love gardening and the fulfillment it brings me. It is a time I spend relaxing
in my own space."
How RBC Royal Bank Helps: "RBC Royal Bank is a good bank to deal
with, responding to all of my needs in the past six years. My account manager
has been there for support every step of the way. It's half the battle when
you have a manager who really cares and takes time to understand your business".
|
|
