From its humble beginnings, Platinum Electrical has now grown to have 30 staff and was named the Australia Post NSW & ACT Small Business of the Year. Earlier this year, 27 year old Joshua Nicholls, launched the franchising arm of Platinum Electrical with plans to have 50 franchises within five years. Nicholls has big plans for the future.
WCM: What gave you the motivation to start your own business at 22-years-old?
Joshua Nicholls: Watching the lifestyle of my previous employer was my first motivation for starting a business. As a tradesman, I would walk into the office at 7:30am to receive my job schedule for the day. The Managing Director would stroll into the office at 8am, say “hi” to all the guys, make his breakfast at a leisurely pace, and then go upstairs to his office for the day. Also because I started at such a young age I didn’t have a lot to lose. I had no mortgage, no wife or family and no overheads, therefore starting business for me was somewhat low-risk and the decision was relatively easy to make.
WCM: You started as a one-man business, what steps did you take to expand?
JN:I lead my business based on the principle of ‘make the space and you will fill it’. Small business owners are often too scared to put on a new staff member, buy a new van or purchase a new premises, because they are worried they won’t have enough business to fill it. I often employ new electricians and purchase a new van when I only have a 50 per cent workload for them. However, if I didn’t take that step, I would not have had the space to create new customers. There is nothing that motivates me more to attract new business than having a van sitting at the office not earning money!