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Driven to success
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When Bob Terris started work at 17 he followed his father's advice: 'If you want to make money you have to do it for yourself'. Bridget Carter finds out how he did it.
T— imes are tough in road haulage, but Bob Terris, boss of Southampton-based Meachers Transport, doesn't necessarily think this is a bad thing. In fact, in a demonstration of pure capitalism, he remarks that tough times simply remove weak firms from the industry.
The survivors, according toTerris, will he those who are sharp,experienced and tough. Terris, you feel, falls into this group. Going by what he tells us he's incredibly hard working, has a head for numbers and is not afraid to make tough decisions.
And most importantly. despite several lucrative offers of work in other sectors over the years, he has chosen to stick to what he knows Terris has done far more than survive–he has become one of the most successful and experienced operators in a difficult industry. This smooth-talking haulier has immaculate dresssense and drives a gleaming BMW,eaming him the nickname 'Mr Armani'. His office is littered with trophies, autographed cricket bats, pictures of his family. his trucks and his favourit e sports teams. He's travelled around the world, attends charity events and, inevitably. plays golf. But despite the glamour and the undeniable charm that Terris exudes, he lives by the traditional values his father taught him when he was growing up in Bristol. He quotes his late father,a contracts manager fora building company,vvho advised him that if you really want to make money. you have to do it for yourself
Ten-is built his empire. which also includes freight forwarding firm Oast Agencies,out of the small family firm. Meachers Transport, which was then a local coal haulier in Totten, on the edge of Southampton.
He joined the company in 1962. aged 17, and was soon working 60-hour weeks. Within 12 months this commitment saw him running a division.Three years later he had expanded this part of the business to 25 trucks and taken over another firm. By the seventies Terris was a director.Then Meachers was taken over by industrial giant Pirelli, which sold it to him in 1996.
Growing in difficult times Now Meachers Transport has grown to a 70vehicle operation that employs 150 staff and has bases in Derby. Banbury and Southampton. Ten-is describes the past few years as "difficult timesin haulage and lists the usual complaints of rising fuel costs, increasing legislation and foreign competition.
Meachers has also weathered the problem of losing a major account. In 2004 Johnson & Johnson slashed the rates it was offering by 25%. Meachers declined to play ball and lost the contract, which accounted for 30% of its turnover. Despite thissethack last year's figures were healthy: the company's turnover hit .£19m with a modest profit of £250,000.
Those difficult times that have sent many firms to the wall have ledTerris to think a little more laterally about where the company's going.He was the brains behind I.inq Alliance, the consortium of Transport Associati members that was launched as a business 2003,allowing them to compete with the logis giants for bigger contracts.
Progress has been a little on the slow si but Terris is confident that it can succeed."' are picking up contracts we would not hE had two-and-a-half years ago." he points The tough market conditions also colour] firm's thinking: " I t means now you have to a little hit careful about who you work for.) have to have a hard attitude and sometin walk away from business."
Focus on core businesses
Indeed, a recent strategic review of the grot activities led to a decision to focus on its o businesses of transport,warehousing and frei forwarding. As a result it sold its MAN-F. dealership. KL Commercials, to local tri dealer Harwoods.
The most important thing. in business, s Terris, is to know where your money is goi especially when times are hard: "If you havt have one thing,you have to understand numb There are a lot of companies that don't kr their true costs. It is not always possible minimise those costs, but at least you kr where you are coming from:'
At 61 Terris has every right to feel satisfied 1 he has followed his father's advice to good ef and that everything he owns he has worked h for. He still has a mountain of energy and enth asm and a passion for his business and. by exl sion. the industry as a whole.
He modestly attributes the company's sua to "a wide group of talented people".Givent what drives him is his love for building up business and watching it grow, it seems m likely that Ten-is has been the key figure bet its growth.Tellingly, he admits that he used b up until midnight with his wife, finishing off invoices. He also concedes that his devotio: the business has taken its toll on his life with family. Now he enjoys spending time out work with his second wife.
His sons. one a chartered accountant and other an engineer, will take over the busit when he retires. But at this stage,Terris hai plans for doing that. "It is everything 1 do: says. "Building something from nothing watching it grow... it's an emotional thing." •