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

Some of the difficulties when first starting up were due to the fact that 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

The biggest contributing factors to the growth of the business include the innovation ideas from the senior management teams to explore new areas which is back up by the teams who deliver the services, along with great networking from clients’ due to them referring their clients. The high level of customer service and the range of areas that is covered means that the firm’s reputation is growing as the go to supplier in the world of telematics and camera solutions

The Future

During the next few years, Plant I Ltd will be building on the data capture and data hosting for remote applications such as the newly developed remote CCTV systems for vehicles, 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. Along with other trends such as newer technologies being continually developed and new areas of the market such as single driver insurance policies, will see the continual growth of the company.