Sisters make plant investment for the future
Hollie and Ruby Finnegan take advantage of the income-earning capabilities of Bell Equipment B30Es
SISTERS with a plant hire heritage, Hollie and Ruby Finnegan, have chosen to make investments that chime with their family’s proven business success, as the two young businesswomen from Leicestershire realize profits from hiring their own Bell Equipment B30E articulated dumptrucks to clients.
The sisters, whose family operates Midlands’ hire company JoinPoint, have both worked for the firm, but whilst Ruby now runs her own event management company, Hollie has immersed herself into the family business.
Considering the options for making future financial investments, Hollie (aged 23) and Ruby (aged 26) decided to investigate the feasibility of purchasing plant as a means of generating personal income.
‘Having a sound understanding of the plant hire market and its needs, expectations and trends, we both felt that the buying and hiring of a plant vehicle each could present a viable alternative to investing in bricks and mortar,’ said Hollie Finnegan, the first of the sisters to invest.
‘After considering the climate of the construction market, in light of numerous infrastructure projects taking place around the country that currently draw on the fleet capabilities of our family firm and others like us, we felt the benefits of investing in plant far outweighed the risk.’
Sister Ruby continued: ‘Hollie purchased a machine first – a Bell Equipment B30E, chosen for its reliability, proven low levels of downtime, and client popularity. I then followed Hollie’s lead, investing in the same make and model. So far, the decision has, without doubt, paid off.’
Hollie is already planning to purchase her second truck by the age of 25 and hopes to obtain her CPCS (Construction Plant Competence Scheme) licence, which will allow her to operate machines personally as she continues her progression with the family firm.
For sister Ruby, truck hire has become a side-line business that has led her to achieve a return on investment through hiring the machine to clients, including big-name operators Buckingham. This success has presented her with the viable prospect of running two successful businesses simultaneously.
‘No matter what the future brings, for the foreseeable time both Ruby and I will continue to invest in the opportunities plant has to offer,’ said Hollie.
‘It’s becoming an exciting time to be a woman in the industry, which is starting to benefit more from the ideas and expertise that women are increasingly bringing to the field – a development that Ruby and I hope will continue, along with our ventures.’