The Courier & Advertiser (Fife Edition)
Angus firm powered by hydraulics
REID HYDRAULIC Services ofwoodside of Kinnell in Angus has been operating since 1995 and has grown from a one-van operation to a major concern.
The company is now looking to expand it services to support the burgeoning renewables sector and is planning to take on and train its own batch of new apprentices.
Boss Neil Reid tells The Courier about his plans for the future.
Q
— What is the nature of your business and how long has it been operating?
A
— Reid Hydraulic Services was established in 1995. I started working with one fully stocked van which offered a 24-hour on-site service. I used my garage for storing all my stock. My first year was very successful and I then went on to purchase a second van in 1996 and took on my first employee.
In 1998 I purchased premises at Woodside of Kinnell.
I have spent a lot of time and money into making it into the premises that it is today.
We now offer a depot service with a well equipped large workshop and also have a showroom and country store. I now have three fully stocked vans which continue to offer an on-site service.
Q
— Has your business changed significantly?
A
— Our business has grown significantly over the years.
I started out offering a hydraulic hose and repair service which very quickly expanded into all things to do with hydraulic — rams, pumps, motors etc.
I then became interested in the ATV business and became a dealer for Polaris ATVS.
This then led us on to become dealers also foryanmar Groundcare Machinery.
In 2009 we were approached by Valtra Tractors and we are now a dealer for them also.
This increased our customer base and each of the different areas are linked with the hydraulics business.
We are also accredited by the British Fluid Power Association, which is the benchmark for hydraulic companies.
We are the only hydraulics company in this area that has this accreditation.
Q
— Many businesses have been significantly squeezed during the recession; how did your firm cope? A — We have been very fortunate and have not seen any decrease in our business activities, which may be due to the sector we work in.
Having different parts of the business helps also, as we are not relying on one type of customer to support us. Q — What is your annual turnover and how many employees do you have? A — We have four employees including one apprentice who is in his second year.
We would hope to take on another apprentice later on this year and are looking to employ another engineer and a sales person.
Our turnover continues to grow each year and our profit margins are high. Q — What is the single biggest issue you face and how are you getting around it? A — Our biggest issue is a lack of decent engineers who have the ability to work to our high standards.
The oil industry has seen a lot of good engineers move to work offshore.
We would hope that by training our own apprentices this will help bridge the gap.
The problem will be holding on to these apprentices once they are qualified, and keep them from moving on to the oil industry. Q — Where do you see future work coming from? A — We would anticipate our future work coming from the oil industry, councils, farming and local companies.
We are also aiming to move into renewable energy systems and are in position to manufacture and build power pack systems which will transport the wood chips for wood-burning systems.
This is what a lot of people are going to move over to in the near future as it much more cost-effective.
There is no one else in Scotland at the present that can design and install these power pack systems and we are looking into building new premises to accommodate this.
This is an exciting new development for our business as renewable energy is at the forefront of the economy at the moment.
Q
— The UK is officially back in recession. What is your view of the business landscape and the scale of opportunities available for your business and others?
A
— You have to know your own limits and it is important not to offer to carry out work beyond your strengths and capabilities.
We will grow within our own strengths, and as a business we continue to feed the profits back into the company to allow for expansion and to keep our equipment and buildings in tip-top condition.
With each new venture we have expanded into we have made the commitment to that brand by putting in the finances required so that customers can see that you are committed for the long haul to that brand.
We are also in the position that we own all our buildings and equipment etc, which means our overheads are relatively low.
Sometimes business go wrong by overspending what they don’t have. We have always worked on the premise that if the company cannot afford something, you shouldn’t buy it.
We have been very fortunate. If you take pride in your business and strive to succeed by being the best you can be, then others will see that and have every confidence.