Weightlifter has also recently launched PCW Hire, which sees the
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company getting involved with funding for the first time. However, rather than being a white label service from a bank, this is funding direct from the Weightlifter parent company.
"This is funding for long-standing and trusted customers," Thomson says. "We have 30 to 40 vehicles and I expect this to expand to 200 or so in two to three years.
The availability of credit to our customers has been the biggest problem for our busi
ness over the past year. Small operators are finding it practically impossible to get credit as banks dip in and out of the market and cherry pick the best customers.
"A typical operator looking for three trailers in the past would have walked straight through funding. But a 25,000 deposit is now required per trader or the deal collapses.
Our enquiry levels continue to be strong, indicating customers are confident, but nothing can move without credit in the market.
"We're advising our customers to find funding first and then we can talk about an order," Thomson says.
The prospects for the market look tough, he continues, at least for the next six months. The eight-wheeler tipper market is dead and I don't expect this to improve for at least six months. We have a plan for organic growth, staying close to our customers and ensuring they have the right choices to get what they need. You can't cheat this market or dictate how it's going to be If you do, you'll quickly be brought back down to size."