Designer Furniture - Wedge
What makes an entrepreneur? Perhaps there are almost as many answers to that question as there are entrepreneurs. For Barry Archer and Robert Hennessy its definitely the buzz.
Translated, that means being your own boss; the thrill of looking at the cheque received from another satisfied client and the satisfaction of knowing that you made it all happen. Barry and Rob are two young, highly qualified, industrial designers who got tired of working as designer/consultants for others. In the summer of 2005 they struck out on their own. Their company, Wedge, designs and custom-builds furniture for architects, interior designers, corporate and private clients.
Their work is an amalgam of design and art, technology and traditional craftsmanship. They work in stainless steel, other metals, wood, plastic and glass. They create and they collaborate. Between the act of creating and lodging the cheque there are all those time consuming and tiresome business disciplines to attend to; disciplines that many with a creative bent often resent. These include accounts, administration, financial control, sales & marketing, organisation and management etc. Happily, Barry and Rob have dealt with the unglamorous side of their business through a practical partnership approach that divides the drudgery between them. Rob looks after sales & marketing with Barry taking on the role of General Manager and financial controller. Both admit that their current management system can and will be refined in the light of experience to date.
Teething problems
Start-ups are notorious for their teething problems and Wedge was no exception. “We started out with nothing,” recalls Barry. “We didn’t want to borrow from the bank and were determined to get by on our initial investment of €20,000 that we had saved. Everything was hard at the beginning and cash flow was a big problem.” Getting premises was also a major headache. “Barry called me to come and see a ‘suitable’ premises he had discovered off Church Road in the East Wall district,” Rob remembers. “It was in a near derelict condition with the ceiling in mounds of rubble on the floor.” Today, it is transformed into an efficient workspace through the hard manual work of the business promoters themselves. Few start-ups enjoy the luxury of calling in the builders and decorators.
At 1,500 sq ft. the Wedge premises are adequate for their current volume of business and are in the process of being upgraded with the modern plant and equipment thanks, in part, to an equipment grant received from Dublin City Enterprise Board that will help expand production capacity. Both this new equipment and a paint spray booth they are planning will enhance quality control. Key processes contracted out will now be done under their own control. Expansion Just a year in operation, the future is looking promising for Wedge and its two promoters. “Our turnover has gone from nothing to about €14,000 a month,” says Barry. “And we can now pay ourselves a living wage,” adds Rob. We are now planning to take on an operative and have a longer term target of having a turnover of €1 million with an additional four people. As they have a three year leas on their premises, they under no immediate pressure and can afford to take stock in a year or so as to their next move.
That said, they already believe that they will be looking for larger premises in the medium future as their business continues to expand. The attention to detail that has brought their work success in a most critical marketplace, is mirrored in the way they run their business. Each piece they make is precisely costed with each element of expense accounted for and charged. The end product may be hand crafted art but the delivery process is pure business. One year on, is it all worth it? “I get more of a buzz working for myself. It’s just more satisfying,” says Barry. “Yes, there is a lot of pride,” add Rob.
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