PLANT-I (MACHYNLLETH)

Origins

Plant-i is an inspiring, home-grown, success story of entrepreneurship, innovation and business growth from humble beginnings. The founder began the business from a kitchen table at his Machynlleth home in 2004 and after spotting the gap in the telematics market, the company was started. He initially borrowed a car and travelled across the UK to source customers and suppliers, even going to the USA in order to ensure the devices used were suitable for purpose. Eleven years later, Plant-i is delivering global tracking technology and market leading vehicle tracking, fleet telematics, fuel-management and asset security solutions to one of the UK’s largest insurance providers and other major companies. The main motivation was to create a product and service that was missing in the market and with the ever-evolving technology. Being able to bring this technology to life and provide a service to businesses and fleet managers has become now an integral part to their business and simply could not operate without it.

Our main challenges when starting the business

All profits where re-invested into the company, with the founder taking out a very small monthly salary as and when possible in order to ensure an organic growth of Plant-i and, as such, ensuring the company became self-sufficient and not dependent on external investors or lenders. The growth rate was slower than it could have been had investment been sought but the balance sheet put Plant-i in a very strong position without the pressure of outside investors.

Success Factor

Plant-i remains a step ahead of competitors through the continuous investment into research and development and new innovative technologies for potential inclusion within the portfolio. In recognising that staff are a key asset to the growth, development and success of Plant-i, the emphasis is on retaining staff on a long ensuring a motivated and empowered workforce who share the organisational values and vision.

The Future

During the next few years, Plant-i Ltd will be offering data capture and data hosting for remote applications. This will expand the current market away from solely vehicle capture to collecting and presenting data from any remote asset. Through organic managed growth Plant-i has been able to give very accurate forecasts to suppliers and secure large volume discount based on long term verbal sales forecasts and those who have seen its vision are benefiting from increased sales through reduced lead times, secured supply and improved profitability. This, alongside newer technologies being developed such as the 3G dash camera technology, has a growing importance on the growth of the company.