WOMEN WHO LAUNCH
IN EVERY EDITION OF WMB, WE ARE COMMITTED TO ASSISTING WOMEN ENTREPRENEURS WHO HAVE RECENTLY LAUNCHED INTO THE BUSINESS WORLD
WORDS: LIV MORGAN
They achieved 7.5% profit after tax in their first year of business, they’ve acquired 20 of the Fortune 500 companies on their books and they were the winners of the County & City Enterprise Boards National Enterprise Award 2007. Carol and Michelle Lynch are, to put it mildly, women who mean business.
Crannagh & Co. is a boutique firm, providing a business advisory service to international trade companies who are either importing or exporting into Europe or from Europe or Ireland into new markets. “We look at what the customs duty implications are, what’s the indirect barriers to trade, what’s the trade regulation aspect, how do you get your goods in and out at the least possible cost, all while ensuring compliance with the Revenue and EU regulation.” says Carol. Just finishing their second financial year the girls have bigger and bolder expectations. “We set very ambitious targets for ourselves in year one and not only did we achieve those but we achieved profits. So now for year two as we’re looking at it we’re doubling our turnover,” says Michelle with every hint of excitement.
The sisters-in-law success is evident, they are now being recognised as the industry experts and have had to grow as educators. “We’ve been called on by large groups like IBEC and Chambers Ireland to do presentations and workshops. The IDA have also asked us to provide workshops for their clients. We’re doing more educating than we expected but invariably that means those clients do turn to us.” Carol agrees with Michelle on the benefits of this, “a referral from a client to a client is worth much more than two or three actual cold calls or meetings with a client who know’s nothing about you.”
Being in the International Trade Business, the competition within the industry is for huge clients and its absolutely rife to stay ahead. The Head of the local County Enterprise Board (Cavan), Vincent Reynolds who is familiar with Crannagh & Co, pointed out recently that they had the ‘crème de la crème’ of International clients on their books. “Our business philosophy is to focus on our clients. We build our client base and they stay with us forever because of the service they get.
“Even if the client isn’t active we keep them up to date as a matter of service provision. The legislation is continuously in a state of flux, because there is always new pieces of legislation eminating and new regulations coming out. But when clients are on retainer with us, when we update them we don’t charge for that. If you’re a client of ours, we’ll look after you. It’s relationship building with the client,” Michelle promises.
The knock on effect of having a good, strong professional yet personal relationship with clients is the backbone behind Crannagh & Co’s success says Carol. “Our accountants are always surprised that we just don’t have debt. Once it goes into two months we’re on the phone and literally nothing ever goes beyond three months. We have a funny policy of chasing debts. Before Christmas Michelle got on the phone and said ‘Now, now Christmas is coming and we won’t have any Santa if we don’t have some money in the bank. Hand over the money Scrooge!’”
Read more about Crannagh & Co. in the April | May 2008 issue of WMB, on newstands now.
WEBSITE DETAILS
www.crannaghtrade.eu
CONTACT DETAILS
Telephone: 049 952 2789
Email: info@crannaghtrade.eu
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