More than $4 million
Joe Dodd, 31
- Head Office
- Year Founded
Since appearing at number 38 in last year’s Smart 50, Melbourne-based labour hire company Amrick has nearly doubled its revenue and bulked up its internal resources, taking on at least 15 more staff.
The company, which provides contract workers to the construction industry, has been able to add more names to its books due to a general upturn in construction activity, according to founder Joe Dodd.
“More workers allowed us to have the capability to really expand,” says Dodd.
Dodd says Amrick has now taken a more aggressive approach to finding new clients and managing existing clients, which include ASX-listed companies through to boutique businesses.
“In this industry, we’re at the mercy of our clients,” says Dodd.
Given this, Dodd says cash flow has been the company’s biggest challenge.
“As cash flow is a problem in many businesses, cash flow in the construction industry is particularly challenging given the notoriously long payments times with some companies,” says Dodd
“After a couple of expensive lessons we quickly tightened up our collections processes, strengthened our contracts and obtain funding when needed.”
Dodd says he’s also had to adjust and strengthen management practices as the company has grown.
Looking towards the future, Dodd says Amrick will continue to bulk up resources to remain scalable and will begin to diversify its offering into areas the core business can leverage off, such as training and electrical testing and tagging.
He remains passionate about the company, which he sees as just “a baby”, and says he has no plans to exit the business.
“I know an exit plan is always something that’s encouraged, however, as the business evolves it’s not a priority of mine to determine one,” says Dodd.
“My commitment to this business is indefinite.”