UnThreaded | Threaded | Whole Thread (17) | Ignore Thread Prev Thread | Prev | Next | Next Thread
Author: tim443 Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 489489  
Subject: Re: It works this way in real life too. Date: 4/22/2013 8:18 AM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 6
If you want to earn more you'll have to find a machine that pays more.

My statement stands.

Desert (in Canada too) Dave

Chatting with SIL yesterday, he is all excited because he finally completed his acquisition of a small Alberta company that had 14 employees. The whole thing got loaded into a rail car and is on its way to his warehouse in Nova Scotia. He has warehouse staff and shipping people there so he will be able to run it with just two (possibly a third later) additional staff to add to his current staff of I think around 35-40. I'm not the business guy but that sounds like pretty good synergy to me? At current sales rate the addition will pay for itself in four years but he says he can increase sales significantly as he can give the product a lot of exposure that it didn't have with the elderly couple that owned and ran it.

This was his first acquisition of another operating company and he says he learned a lot of lessons that would have been useful before he started. Major lesson learned is that when dealing with elderly people forced to give up their life's work it is good to make sure everything is up front before making the buy decision. He had a lot of problems with seller’s remorse and trying to change things as well as the two lawyers getting at loggerheads with each other.

He pays his staff well above minimum wage because he rarely has to hire and train new people and they don't steal from him (his words). Apparently he used to have high turnover and lots of product losses when he first started out but his wife suggested some changes.

Somewhat amusing the vast majority of his staff now are women over 40 who returned to the workforce after raising their family. He says they are smart, appreciate the job and provide solutions before describing problems when they call him. He mostly stays well away from the warehouse as they do get a bit catty with each other sometimes and that is the warehouse manager's problem. }};-D

Note: The physical product is made in the US while the "thoughts" that make it special came from the female side of the couple in Alberta.

Any <It’s ok if you disagree with me. I can’t force you to be right> mouse
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (17) | Ignore Thread Prev Thread | Prev | Next | Next Thread


Foolanthropy 2015!
Fistula Foundation: A World of Good!
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Post of the Day:
Saul's Investing Discussions

Gilead Sciences CC Thoughts
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.