|Company||Trenouth Family Holdings|
|Industry:||Agriculture, Forestry, Fishing and Hunting|
|Amounts:||various Find what funding programs you qualify for|
Glen Trenouth was a farmer for 30 years, and he spent seven years working in a factory that produced wire cable. His experiences from both of those occupations have helped make Trenouth Family Holdings (TFH) a successful, fast-growing company which manufactures grain bins for agricultural operations. And now, armed with a business plan, he's seeking out funding to take the company to the next level.
"When the opportunity of getting back to something where I could be my own boss came up, I decided I'd better jump at it," he says. He'd been selling grain bins with his brother-in-law, working about two hours away from his home in Radville, Saskatchewan, when he realized there was a market in his own area. "So we expanded down here," says Trenouth. After three years of selling products manufactured by others, business was brisk, but the one obstacle was getting reliable suppliers. "The sales here were starting to come, and the more sales, the braver you get," he says. "So we started manufacturing our own stuff."
Their own stuff included hoppers and custom wood and steel floors for grain bins, and it led to a big jump in sales a year after launching the manufacturing end. That's when Trenouth realized he could grow the business further, which meant expanding the product line. Currently, while he can offer any size of skid, the company builds hoppers for 19, 18, 15, and 14 foot Westeel bins. "Bigger hoppers are one thing," he says. "If I can do bigger grain bin hoppers, we can start going south down into the states."
He realized a solid, professional business plan was key to getting business funding. "We tried financing and different things over the years. And we've always run into a roadblock somewhere along the line," says Trenouth. "Most of this business has been self-financed and by golly, by gosh, but I saw that there were some grants available for some things."
He continues. "I was online, looking around for different options as I've been doing pretty much ever since I started – to find anything from an angel investor to somebody that was willing to throw us a dollar that we could run through the business just to buy inventory. Someone suggested getting in contact with the Centre for Business Plan Development would be the best way to go, because that way at least you have a lot better chance of doing the government grants and everything."
Trenouth says it was easy to work with his team at the Centre for Business Plan Development. "It was good. We had done up some business plans of our own over the years, and I always found them painful. Not that they were terrible, but they weren't anything like something from somebody who does this professionally."
With funding in place, Trenouth can expand his offerings, as well as offer custom services for the nearby oil field. "We've got everybody here we really need to make it fly," he says. Summer's the thick of the year for the seasonal business, and the crew is working 14 to 15 hour days, but come fall, he'll be back at work on looking at expansion. "If you've got the feeling and desire in your heart, you better just keep at it, and hopefully you can finance it somehow." Financing a business is possible with obtaining private funding through banks or through applying for government funding.
Contact The Centre for Business Plan Development to see how your business could grow. For a free consultation, call 1-855-892-2506.