Company name: Go Sustainable
Website:www.gosustainable.co.uk
Founders: Franz Hutcheson
Age: 50
Based: Newcastle Upon Tyne
Staff Numbers: 8
Date started: 26/11/06
Tell us what your business does
At go sustainable it is our aim to show that by using advanced heating, renewable and sustainable technologies, our clients will gain substantial savings on their heating costs together with significant reductions in their carbon footprints.
Where did the idea for your business come from?
My previous position as building project manager introduced me to new technologies and I saw the potential of an emerging market.
How did you know there was a market for it?
It was very evident that the world was becoming more interested in energy conservation and carbon reduction due to scientific evidence about climate change becoming more compelling. We give choices of different products to suit the client’s individual requirements and act as a portal to the renewable/sustainable energy world.
What were you doing before starting up?
I have over 30 years of experience in the building industry in project management, building surveying, engineering and architectural design as well as a short service commission in 2 Battalion Parachute regiments. I have always had a feeling that at sometime in my life I would run my own business but never found a market I wanted to enter until now. It was very difficult to leave a career at my age when most of my friends and colleagues were settling back to coast towards their retirement.
What planning did you do before you started up?
I originally did my own market research consulting architects, builders and engineers.
Then I had a professional business plan produced at a cost of £3,500. This enabled me to raise some funds.
How did you raise the money?
I used all my available savings and obtained loans from the banks. Using the business plan we managed to raise a bank loan from NatWest who where very helpful and have remained so throughout my business’ existence. Yes I have been rejected but perseverance has paid off eventually.
Where is your business based?
I started the business on my kitchen table for the first 18 months. Home / work life balance became very difficult. We were then offered shared space in a fellow director’s existing offices. Home / work life balance is still difficult as the internet and computer can be used anywhere.
What has your growth been like?
We have grown very quickly during 2008-2009. I would say 200% which tends to buck the trend a little. I put this down to being small to start with and then very flexible where work types are concerned.
We made our first small profit last year which, believe me, is a triumph when you are starting a new business. The business plan bares little resemblance to the reality of the business. Everything changes from week to week when you start off. There are too many unseen X factors and deviations from your original ideas for this to be accurate.
What would you say the greatest difficulty has been in starting up?
Cashflow, cashflow, cashflow without doubt is the most difficult. You may have plenty of work in and you can be very busy but without the cash to finance the material purchases and priority account payments you can find yourself dead in the water.
What would you do differently?
Get more capital at the start to allow me to employ staff earlier which would release me to work more on the business rather than in the business.