Halifax solar roofer Ploughcroft gains shining light as investor
Friday, 7 October 2011 4:01 PM
Many companies head into the Dragons' Den with hopes and dreams to one day become a leading business not only in their industry, but in the UK as a whole. While dozens, if not hundreds of ideas have been turned away following the intense scrutiny of the Dragons, Halifax roofer Christopher Hopkins was not one of them, after he secured an investment of £120,000 in his solar panel installation company Ploughcroft from two of the show's ever-present stars. Now, their sights are on growing the business to a truly national level.
Following a particularly tense negotiation period in front of the cameras, both Deborah Meaden and Theo Paphitis managed to work together to happily accept the energetic pitch from Hopkins, a former body builder. This was after no fewer than four of the five Dragons battled it out for a share in the exciting developing company, before both Meaden and Paphitis ultimately split a 25 per cent stake in the firm.
The firm was founded by Chris and his father in 1996 at his home in Ploughcroft, near Halifax, and started out as a regular roofing company. Chris began to operate under the trade name The Rooferman and soon opened a City & Guilds-approved academy in 2005, further consolidating the business' importance on a local and national scale.
Ploughcroft's secret to success is simple: during the last 15 years, the company has been trading and installing solar panels but wanted to aim higher, ultimately benefiting both the consumer and the UK's eco credentials. With Chris Hopkins' major emphasis on customer service, the company has become a unique solar panel installation organisation that even offers its own NVQ-accredited training centre.
This course was actually designed and implemented by Ploughcroft itself, now gaining recognition nationwide. The organisation's desire to share the wealth of solar power has resulted in it becoming the chosen supplier and installer for companies such as British Gas, Plumb Centre and npower, among others. It's hardly surprising, given that it is now the most accredited solar installation and training company in the UK.
Ploughcroft took advantage of the solar power revolution well before the new focus on renewable energy came to the attention of regular citizens and government specialists alike. The company has conducted over 5,000 installations since 2006 alone - a fact that clearly impressed the Dragons.
Hopkins' business acumen was further understood when it was revealed on the BBC flagship entrepreneurial show that he had worked with the Feed-In-Tariff scheme introduced by the government in 2010, which guarantees a minimum annual payment to homeowners from six leading energy providers who install solar panels and other renewable energy solutions in their home. Homeowners are therefore rewarded with annual payments of around £1,600, leading to a huge increase in demand for Ploughcroft and its services.
Now, with the help of Meaden and Paphitis, the expert will embark on a national push to get more people benefiting from affordable renewable options they may not ever have known they had otherwise. The plan focuses on expanding the company from its West Yorkshire base with a number of regional offices.
"Everyone at Ploughcroft is very excited to be involved with two excellent business minds that are also household names like Deborah and Theo," managing director Chris said.
"Apart from their excellent reputation in the world of business, Deborah and Theo are trusted household names. This was very important to me, as I want Ploughcroft to grow to become the household name of choice for solar and renewable energy installations. I want our name to be synonymous with solar, just like big brand names are with other household industries."
Hopkins added that he was ecstatic to have the opportunity to meet other successful entrepreneurs who have experienced great successes and hopes to replicate them.
"Through their backing and bank of contacts both in the UK and across the globe, we're looking forward to achieving major success with Ploughcroft in the renewable energy market," he concluded.
Meanwhile, Deborah Meaden was keen to add her thoughts on the deal, noting that the renewable energy market is one of her favourite emerging industries because it "combines doing the right thing with great returns".
The Dragon continued: "As with all rapidly growing markets, there are good and bad operators out there, but Chris clearly demonstrated that he was deeply knowledgeable and an industry leader, not just jumping on the bandwagon. He was also obviously someone who gets stuff done and cares about his customers...seemed like the perfect fit and so I went for it!"
Things are certainly moving quickly for Ploughcroft, too. Since the first episode of the ninth series of Dragons' Den was aired, the company has embarked on the growth programme Chris desires, which includes the expansion of its training division from two to six centres. It seems like the only way is up for Ploughcroft and, in light of its solar credentials, the sky really is the limit.
