An out-of-hours emergency vet business beat strong competition on Thursday to
win the Scotland heat of the £35m Bank of Scotland Entrepreneur Challenge at
a lavish award ceremony at Stirling Castle.
Richard Dixon, founder and managing director of the Fife-based company called
Vets Now, hugged his colleagues in delight on hearing his business had won
the prize of a £5m, interest-free loan.
Dixon, 38, who founded the company after spotting a demand from vets for
out-of-hours cover, said winning the prize would enable the firm to continue
its rapid growth.
“We’re absolutely delighted,” he said. “Winning the prize is going to help us
take the organisation to a completely different level.
“I was immensely proud of our team’s performance in preparing for this
competition, in the presentation on the day and in the professional way they
handled the grilling from the judges. It has been a real privilege to take
part and it has been a fantastic experience.”
The business, which employs 350 and had a turnover of £12.6m in the year to
the end of March, up 33% from the year before, had ambitions to grow much
larger still, he said. “Winning will speed up our expansion into Europe. It
will help cement our relationship with vets in the UK by enabling us to
offer more traditional support services. Our profitability and turnover will
grow. We aim to get to sales of £65m within three to four years.”
Demonstrating a strong belief in the business and its future may have helped
the presentation team to swing the judges’ decision, said Dixon. “We knew it
was going to be difficult but we knew we had a strong case and I think we
demonstrated commitment, passion and skill.”
The firm’s ambition and its belief in the services it provides also helped to
convince the judges, said Dixon. “We don’t want to be a good business or a
great business; we want to be a world-class business. We want to be an
organisation that makes people all around the world stand back and say,
‘Where did they come from?’ ”
He said that the company, which deals with more than 65,000 small-animal
emergencies a year in 32 clinics serving more than 350 veterinary practices,
has been a success to date because it meets a strong demand. “As well as
striving to be a successful business in commercial terms, we also want to
improve the lives of vets and of the animals.
“When we founded the business in 2001, pet owners’ expectations of care were
rising. Vets wanted to deliver a great service but they did not want to work
24/7 and that contradiction was becoming increasingly untenable. With Vets
Now providing out-of-hours cover, the practice does not have to concern
itself after that and can focus on the quality of its core service, and the
vets in the practice can enjoy a better quality of life.”
A strong field of contenders, including the safety software business
Petrotechnics, metals recycler John Lawrie, oil-and-gas consultancy Xodus
and bathroom shower-panel maker Shore Laminates, earned high praise from the
judges, but Vets Now stood out.
James Baird, a senior partner at Deloitte, said the innovative business model
of Vets Now made the company stand out. “It’s a business that takes a new
view of its marketplace,” he said. “It had the vision to identify the change
it could make and the ambition to do that not just locally but nationally
and internationally.”
Dixon’s personal skill in developing the business and his ability to build and
motivate a talented team was another strong factor in Pets Now’s successful
pitch, said Baird. “He has developed an understanding and appreciation of
his market to create a very strong business but he also has an appreciation
and understanding of people.
“Entrepreneurship is not about a hero on a crusade, it’s about a person having
a vision and creating the team to deliver it. He’s absolutely aligned with
the people around him. He’s aware of the challenges they face and of the way
the team will overcome them. He has a fantastic confidence and conviction
that they will get to where they want to go.”
John Anderson, chief executive of the Entrepreneurial Exchange, a leading
network for Scottish entrepreneurs, and another judge on the panel, said:
“The company has some great growth opportunities. It is only halfway through
the UK and then there’s Europe plus the opportunity to sell more services to
its existing customers.
“Richard has also changed the model in his industry. He has not just done
something a little bit better; he has transformed it, finding a way to work
with vets rather than compete with them.”
