Scott Boocock has created a great Australian story. In 2012, after years working in a range of roles and industries, he had a lightbulb moment. While hanging out ‘delicates’ on the washing line he wondered why pegs didn’t come with handy hooks. That question was the catalyst for ‘Hegs’; an Australian product manufactured locally and now sold across the world.
Of course this didn’t all happen overnight. While his expansion goals were pretty large from the beginning, an accounting firm who were helping his business asked him how he was going to fund his growth ambitions. Scott says, “I assumed I would go to the banks but looking back, it never would have worked”.
Initial interest from domestic and international retailers is exciting, but Scott says getting a purchase order is what it is all about. “What a lot of people don’t understand is the time it takes to secure a deal. You might work on it for three years but then suddenly they give you a purchase order and they might expect you to deliver product within eight weeks. To sit there and wait for a bank to finance your product just isn’t going to happen and that’s where Timelio steps in and funds us quickly.”
“Whether it is $10,000 or $100,000 we submit it to Timelio and they process it within 24 hours. We’ve just launched in England, Ireland and Scotland, and Timelio has helped us enter those new markets.”
“I’m very grateful my accountant suggested Timelio in the first place as it has worked brilliantly for us.” Scott says it’s simple and the integrations between their accounting software, inventory system and Timelio has really helped them. “I have everything available to me, no matter where I am in the world. And it is in multi-currency which is essential now we are working with different countries.”
Scott says he has some big plans for his Australian company. Initially he wondered if in 20 years people would no longer use pegs, just ‘Hegs’. However, his goals have now amplified. Scott is predicting the Hegs brand will become one of the leading laundry brands across the world and he says he can’t wait to see where it all goes.
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