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Patricia Gibson
Patricia Gibson, Vice President
Company: Install-A-Flor Ltd., Dartmouth, Nova Scotia
Contact Info: Tel: (902) 468-5576; e-mail: pgibson@iafltd.com
Description: As the largest independent flooring company in Atlantic Canada, Install-A-Flor Ltd. runs commercial, wholesale and retail operations and has branch offices in New Brunswick, Bermuda and China. Its commercial division can accommodate the smallest boutique to the largest commercial office building and its seven retail outlets, called Floors Plus, offer a vast selection of styles and colours
Background: Both Patricia and her husband, Larry have a background in flooring - she had worked for a local flooring company after high school and he was a flooring contractor. After Larry's employer, Eatons, closed its flooring division, the two started Install-a-Flor "in desperation" back in 1988, specializing in the supply and installation of commercial floor coverings. The company has steadily grown - from the two of them in that first year to more than 70 employees, as well as 150 subcontracted installers and over $20 million in revenues today - and has expanded into both wholesale and retail. Patricia manages all financial affairs of the business and oversees the day-to-day operations, including HR, marketing and IT, while Larry handles sales and the wholesale division.
Unique Aspects: The company excels in customer service and professional installation. Its sales staff is certified from the Carpet and Rug Institute and, along with their installers, receive ongoing training. Patricia's passion to provide her customers with the best quality products and services available is clearly visible. "Because we are in the home fashion and construction industry, we attend trade shows around the world - the U.S., China, Germany - staying abreast of the new fashions, colours and products as well as customer service. We share this knowledge with our managers and down the line to the staff. Our emphasis is on customer service to differentiate ourselves from other flooring companies that sell the same product."
Honours:
- WXN Canada's Most Powerful Women: Top 100, 2005
- Top 101 Companies of Atlantic Canada, 2002
- Halifax Chamber of Commerce, Business of the Year 2004 Finalist
- Chatelaine Top 100 Women Business Owners 2003
Path to Growth: The company's growth was essentially driven by demand. Starting commercially in Halifax, it grew quickly, with space and employees added after the first year. The need for a warehouse required another building and, as demand continued, the company was moved to Dartmouth in 1991, with expansion into New Brunswick in 1992. When local suppliers could not provide specialized products that customers wanted, Patricia and Larry opened a wholesale division to source those. Customers and their tenants began asking for home flooring, which spurred expansion into the retail market in 1992. Install-a-Flor's commercial business even expanded to Bermuda and has led to work as far away as Iceland. Patricia believes that having a business partner - in her case, her husband - helps fuel more rapid growth. "I think it's more difficult if you're totally alone and you don't have a support person to bounce off ideas."
Greatest Growth Challenges: "Retail growth requires much more time because you are dealing with inventory and must know how to buy products that sell. It sounds easy but it doesn't take long for you to have a store or warehouse full of products that aren't selling. The market is changing so fast that it's important to be a smart buyer and keep abreast of those changes. HR issues and marketing plans are also more complex in retail." And if her gender was ever a barrier in the early days when some customers viewed her as Larry's wife rather than his business partner, Patricia quickly overcame that. "If you have confidence in what you are talking about, people will listen and take you seriously."
Biggest Growth Rewards: "It's very rewarding to see the whole growth span we've created - starting this business with two people and through sheer hard work, taking advantage of opportunities and, yes, a little luck, growing it into something that benefits over 100 families of our employees and subcontractors who depend on us for work. At the end of the day, I like knowing that we are successful and that we are making money at what we love to do. But it's not just the money, it's also about satisfaction in having done a good job."
Growth Risks: In Patricia's business, the biggest risks lie in buying the right products and picking the right locations for retail expansion. "It's important to assess the market. That's why we travel the world to source new products at better prices in order to compete." Increasing competition from big box retailers is also a risk, but they often do not provide the same quality of professional installation. Rapid growth can also take a toll on personal and family life. "There were definitely challenges when we started out, with our children four and five years old, and life was very hectic, but you do what you have to in order to make it work."
Work-Life Balance Tips: A trailblazer in job-sharing, Patricia and her neighbour took turns - one week on and one off - staying home to be with all the children. "I realized I couldn't be perfect at everything, which occasionally meant kicking a few dust balls under the beds or convincing the kids that macaroni and cheese from the box was a gourmet meal. I took a lot of work home - balancing the bank statement while the kids did their homework at the kitchen table and we would all talk. To this day, they prefer to come down to the kitchen table to work rather than at the computer in their room." Through the years, Patricia often brought her kids with her to work. "Many a time they fell asleep on a roll of carpet." During high school, they helped out part-time…and flooring is obviously in their blood, too; today, her daughter is the key IT person and her son, who graduates from college this year, insists he wants to work in the business.
How RBC Royal Bank Has Helped: "I can't say enough about RBC, which has really supported us right from the start. When we started in 1988, we approached the bank with a dream and a vision, asking for their financial support to buy and renovate a rundown building and they helped us. We were in constant contact with the bank, letting them know what we were doing. We reinvested a lot of our money back then, only taking a survival salary and investing the profits in order to grow. The bank has been there every time we wanted to grow, offering support - not only with financing but with good business relationships as well. We have often asked for and received advice on possible new ventures - it's good to have someone to talk to about ramifications. Our account manager goes the extra mile. I can just pick up the phone and talk to her anytime. And I think it's wonderful that RBC sponsors awards and networking for women entrepreneurs. These events are a great avenue for women because there is no better way to learn something than to ask someone who has already done it."
Other Support: "We have an excellent team, who go above and beyond in their positions…working Sundays or whatever it takes… they are always there. And that's a huge support. Hiring the right people has been an important contributor to our growth. Without some of our key employees, we wouldn't be where we are today."
To Grow or Not to Grow: "You have to feel it in your gut first and have a burning desire because it's not easy. If you want to stay in control of a new venture, you must put the time into it and be prepared to work nights and weekends. Financially, you have to be very careful, studying your financial reports and figures to make sure you are ready for the next leap. You can't do everything yourself if you want to grow to the next level. You must sit back, evaluate the support you need and know at what point you will be able to afford that support."
Working with a Spouse: "There are challenges - it's not always easy. A big plus is that you never run out of conversation, but you don't always agree either. You can't be business partners and agree on everything, so you must know where to draw the line at home and you should have distinctive roles and responsibilities at work. As we grew the business, my husband and I made sure that we could get away together on a vacation without the children once each year. Some of our best decisions were made when we were completely outside the box, outside the working environment, outside the home and were relaxed somewhere."
Personal Interests: "I really spend so much time hands-on in the day-to-day operations and often don't get home until 8 at night, which doesn't leave time for much else." In between work and sitting on the Board of Directors of the Construction Association in Nova Scotia, Patricia loves to go boating with her family, travel to new places and golf, but admits she still wants to be totally involved in the business. "It's my passion!"
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