Annual Predictions
32 | JANUARY 2024
Annual Predictions
WHAT IS THE KEY TO A SUCCESS OR FAILURE IN 2024 ?
We could all sit around the boardroom table and look at previous years ’ results , industry trends and drivers , how the business has performed historically , if different sectors have achieved their set targets , and if not why not ?
Jimmy Whittles , Managing Director , Keyframe
But , our business model is simple , less chat more action .
Over 40 years in the industry we have seen many a downturn and recession when all that is painted by the press is doom and gloom , through every one of these downturns we have ridden the storm , grown and prospered .
Why ? The main reason is our PMA : Positive Mental Attitude . If your glass is half empty you will always come up with a reason why you haven ’ t or can ’ t succeed . The world is full of people who are looking for or waiting for a reason to fail , whereas we look for staff who will achieve their goals / targets regardless of what obstacles are thrown in their way .
A pessimistic approach to business will automatically breed under performance and ultimately failure . We constantly hear of companies that find it difficult to sell due to the main objection from a potential buyer being price , and to gain business they reduce prices to unsustainable , unprofitable levels , in some instances even selling at a loss . This policy is madness it completely decimates the structure of the industry and weakens the strength of the brands in the market , how can one company that is selling the same brand sell it cheaper than the other , it is ludicrous . Other industries don ’ t do this , manufacturers maintain the same price point on products , which reinforces brand positioning within the market .
Many in our industry are driven by greed , a compulsive desire to make more frames and in order to do this they reduce prices , but they seem to lose track of the of the additional costs that are involved and end up increasing production but lose money in order to do so .
It is our belief that there are endless opportunities open to us to maintain or even grow our sales to grow throughout 2024 .
Whilst the news reports all the time about how people are struggling of which we agree many are . The fact of the matter is that there are millions that aren ’ t and thankfully the fenestration industry is a sector which benefits from this demographic .
The Bank of England ’ s hike in interest rates is something that many a saver hasn ’ t enjoyed for the past 15 years . And these rises in interest rates provide additional liquidity for the purchase of high value , home improvements . The downturn in new build sales due to the interest rate rises also drives forward sales of windows , doors , patios etc . in the property renovation and residential replacement window sector .
People who may have looked at moving but have had their plans scuppered due to banks and building societies hiking rates and removing attractive mortgage products , have now reassessed “ Let ’ s not move Let ’ s stay put and improve ”. So , our view at Keyframe is that with these sectors being our customers key areas of business , we will maintain our current volumes .
In 2023 we reported an increase in sales of 6 % on 2022 and with the additional investment
SUPPLYING quality products & service
FOR 30 YEARS
planned throughout 2024 in machinery , and distribution , we are confident that we will be in an ideal position to service the gradual organic growth that we forecast throughout the coming year .
Maintaining high stock levels will also be critical to our success throughout the year , due to there still being a level volatility and shortages in the supply chain . It has always been our belief that “ stock on our shelves is far better than money in the bank ”. Nobody wants to buy money , but with stocks of profile and hardware we can manufacture frames . This policy has always been a defining factor in the ability to provide a fast turnaround on orders and excellent service to both new and existing clients . We know it gives the edge over many of our competitors .
With the introduction new staff and an exciting new product range also planned in the first quarter , we are highly confident that 2024 will be a good year .
www . keyframeuk . com
Manufacturers of PVCu Windows and Doors www . keyframeuk . co . uk