Exeter 19-year-old on course to make first million
He’s already won a business award, taken on 25 staff and is heading for his first £1 million turnover. And now Chris Rundle’s company GK Signs is on schedule to sticker in excess of 8,000 vehicles this year for the likes of Thrifty Car and Van Rental and Hertz Rent a car.
And here’s the remarkable bit - Chris is just 19.
GK Signs was an ailing company turning over just £48,000 when Chris took over the Exeter-based firm in July 2011 - symbolically the day after he left school aged 16 with just three GCSEs.
Since then, he’s won back nearly all the previous clients. And last year he moved the company into new 8,000 square feet premises in Exeter’s Marsh Barton, expanding from a workforce of two to 25 and created a 24-hour operation, manufacturing and delivering signs all over the UK. He predicts a turnover this year of in excess of £1 million.
With the confidence that belies his years, Chris has never been afraid of knocking on doors. And his persistence has paid off. Attracting clients such as Thrifty and Hertz will see his fleet work nearly double the previous year.
"We’re not the cheapest, nor are we the most expensive," said Chris.
"What we offer is a quality of service. And as we expand, our travel time will become more cost effective so we can pass those savings on to our customers.
“Forty per cent of our turnover is now fleet business and it’s the most important income stream for us so we are determined to grow."
So how does he do it? Determination and focus are key, he says. Along with constantly thinking ahead, finding new contacts and knocking on proverbial doors.
It’s all a far cry from when Chris started his venture from his bedroom, aged 13, making stickers for bikes and selling them on Ebay. Suddenly he was in business expanding his kit and printing up to six banners per week, strapping them on the back of his moped for delivery. Having carefully parked out of sight of his clients, he’d then lock away his helmet, smarten himself up and stride confidently into a business meeting.
School. however, was not a success, Chris left school, his ears ringing with warnings from teachers about the folly of not continuing his studies. The doom mongers continued when he bought GK Signs the day after he left school.
"Everyone said it was a mistake but I knew I could turn it around,’ he said. ‘All it needed was extremely hard graft."
Within his first three months of acquiring GK Signs, he’d won back nearly all the previous clients.
"The key is meeting the right person," said Chris.
"I never give up, I just keep on going until I get to the right person. If they tell me to eff off, I just try them again. Sometimes they realize my age but mostly the reaction is good. A lot of people I deal with started up just like me, so they are prepared to give me a chance and I appreciate that."
As well as his big name clients, Chris has some big name mentors.
Thrifty Car and Van Rental boss Nigel Spokes is always at the end of the phone to offer advice if needed.
"Chris is a great person to do business with," said Mr Spokes.
"I usually forget that I’m dealing with a 19-year-old. He’s got guts, instinct and a capacity for hard work. I’m not surprised at all that he’s doing so well."
And Chris has done work for Dragon’s Den’s Hilary de Vey, who also offers advice. But he turned his back on an opportunity to appear on BBC’s Junior Apprentice two years ago, as he was far too busy running his business. However he did take an evening off to collect his award as Young Entrepreneur of the Year in his native city of Exeter and recently was featured on ITV as an example of the real alternatives to further education.
