The Residence Collection
Address: Unit C, Bristol Rd, Hardwicke, GL2 4PA
Tel: 01452 300912 – Email: journey@residencecollection.co.uk – Website: https://www.residencecollection.co.uk – Twitter: @residence9
Ownership, innovation and entrepreneurship
Sarah Hitchings, Sales and Marketing Director of The Residence Collection, talks about their recent management buy-out in December 2019 and what it means to them and as a whole to the industry
As the dust settles after a rather lengthy management buy-out process and as the number of well-wishers has swollen our e-mail and phone numbers, we can now look at the next chapter for The Residence Collection and Window Widgets. For many years the respective brands were privately owned, then moving to private equity and most recently the business was owned as part of a large, multi-national USA corporation in the form of Masonite.
As a NYSE listed company under ‘DOOR’, our business was never really part of the core focus and strategy and so it felt that we were stagnating at times, without the opportunities to build on this great business. But now the shackles of working within a corporate heavyweight have been removed following the MBO, we’re able to revert back to running the business with the entrepreneurial flair and spirit that we all cherish and love. As four director/owners in the business, we’re also accountable to each other and over the past two years of working together we’ve built a strong bond between us all, so the future for us and our valued customers has never looked so good.
Following the announcement on the 16th December 2019, the number of e-mails, text messages and phone calls were quite extraordinary and humbling. The timing of our MBO pre-Christmas also means that our new business plan for 2020 can be implemented right from the first day back without any distraction. There will be little visible change to the way in which the business is run day to day, but what it will mean is that the decision-making process will be quicker and that we will also be able fast-track our ideas to the market. We do have additional financial backing behind us to also realise further investments across the business, as and when we need to.
We’ve now opened up the tap in terms of new ideas and thinking now that we are in charge of our own destiny and we will be implementing some of the practices and principles of innovation and entrepreneurship highlighted in Peter Drucker’s eponymous book that was first published in 1984. Despite what appears to be a dated publication during the pre-digital era, the guidelines within this milestone in business theorem remain perfectly relevant today. But what of our respective brands?
Having launched the latest part of The Residence Collection in the form of RD, a range of engineered doors, earlier this year at the FIT Show, we’ll be developing more marketing materials to support the surge in enquiries and enthusiasm from our customer network for this new product direction. The market is well aware of the success of the composite door market which is close on 1m installations per annum, yet doors manufactured with profiles and next-generation panels still have a major part to play in the entrance door market and they also offer a number of USPs.
In 2020 we also expect R2 to undertake a similar sales trajectory as its heritage inspired cousin, R9, as it’s the ultimate contemporary window offering square architectural lines, fully foiled rebates and outstanding levels of energy efficiency. While we’ve inspired a new generation of flush sash windows, the fact remains that The Residence Collection has a window for everyone, also highlighted with R7, which boasts seven chambers and seven substrates.
We will also continue to push Window Widgets and the new technical A1 wallcharts, trade counter POS materials and website with online ordering, which have all been very well received, whilst we also continue to distribute our catalogue across the industry for what has been dubbed ‘the big pink book.’ It’s important for us to keep on pushing the requirements of CE Marking on baypole jacks and our list of accreditations and exhaustive product testing not only set us apart from any challengers in the sector, but it also provides complete reassurance to over 800 trade customers across the UK. When you consider that as a board of directors, we own the business with skills in sales, marketing, finance, operations and product design we’re very well covered in the key business practices to succeed, as business gurus such as Peter Drucker have highlighted to generations of entrepreneurs. Our thirst for innovation across our business has never been so strong, so expect more from us in 2020!
