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Pre-cast concrete business set to diversify after growth support

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Based in Barnoldswick, Wolfenden Concrete has been supplying  precast concrete products to farms for forty years. More recently its innovative approach has allowed the business to diversify into different industries including construction and manufacturing.

Managing Director Richard Moody acquired the business three years ago with the aim of achieving further profitable growth. Richard was considering making significant financial investment into brand new moulds to manufacture new types of products to achieve the growth objectives of the business.

The opportunity

Richard wished to use the Innovation Sprint Programme delivered by Edgehill University's Productivity and Innovation Centre (PIC) to clarify the potential investment opportunity by putting it through its paces before making the commitment. A further opportunity was to capitalise on Wolfenden’s knowledge and experience and use it to build a higher market share in the dairy farm market.

The journey

The frameworks used in the workshops helped Richard to explore the potential investment opportunity in-depth. With support from the academic team, he was able to un-pick the complexity of investing in new manufacturing techniques. He examined his existing product range and current business model and recognised that there was capacity to maximise the company’s existing capabilities to develop three new products to increase sales and support the achievement of the revenue targets. Richard spent time understanding his customer’s pain-points and looking at his existing marketing content and strategy.

The Programme is challenging but provided me with the opportunity to conduct a thorough exploration of a business opportunity before I made any financial commitment. I am so pleased that I took the time to complete the Programme and I am now committed to implementing my plan to support my growth objectives. Richard Moody, Managing Director – Wolfenden Concrete Ltd

 

The solution and outcomes

On completing the Programme, Wolfenden launched the new SUPA range of precast concrete solutions (SUPA-DEEP, SUPA-WIDE, SUPA-STRONG channels) purposely-designed for the dairy industry, using a new marketing slogan ‘Happy Cows’. Wolfenden has clarified its messages and invested in the creation of a targeted marketing campaign that will be supported by a newly implemented CRM system. The strategic developments include:

  • Clarification of a new business opportunity
  • Launched the new SUPA range of precast concrete products
  • Invested in and created a new marketing strategy and CRM system
  • Refined messages and website

These developments allow the organisation to create a proactive, repeatable and scalable business process to allow transition into new markets. Richard found the interaction with academics during the workshops a valuable part of the development of a technically and financially feasible solution.

About PIC

The Productivity and Innovation Centre (PIC) at Edgehill University is a centre of excellence in the region for stimulating growth and economic development through business innovation. Its unique Innovation Sprint Programme offers a systematic and evidence-based process through which SMEs can address their innovation opportunity or challenge. The Programme is fully-funded for Lancashire based eligible SMEs. 100% of SMEs who completed the Programme agreed that the Programme has positively met or exceeded their expectations. For further information visit: The Productivity and Innovation Centre

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