For more information on YFM equity Partners please visit www.yfmep.com (and tell them Phil from Leeds Business Podcast sent you!) This week we speak to James Kempley, Managing Director of Troy Foods (Salads) Ltd. James tells us about the stresses and strains of being 4th generation in a family firm, the perfect storm that forced part of the business into administration and how automation makes such a huge difference. INTRODUCING JAMES KEMPLEY James Kempley is the Manging Director of Troy Foods (Salads) Ltd. He came into the family business at 18 years old, as fourth generation, learning the business through the ranks. He is fascinated by the food manufacturing industry, especially trying to generate new talent in the industry that is badly lacking. In his spare time, he is an avid cricketer and a life long, long suffering Leeds United fan. The Business Surgery question is "When should a company consider bringing in external advisors and/or NEDs?" EPISODE HIGHLIGHTS [00:01:00] The history of Troy Foods [00:04:30] Joining the family business and the pressures involved [00:11:00] James’ career progression through the business [00:17:00] The expansion of Troy Foods [00:22:00] Business going into administration [00:29:00] The key lessons learnt [00:32:00] The re-structured business and expanding into new markets [00:41:00] How to build a family-like culture [00:45:00] BUSINESS SURGERY [00:50:00] Future plans for the business 3 KEY TAKEAWAYS & BUSINESS LEARNINGS • Sometimes you have to go through the bad times to make a business successful • Relationships are king • You have to be laser controlled on costs 4 BEST MOMENTS “You had to buy and trade well to be profitable” “I learnt more in 18 months than I did the rest of my life” “we can produce a million bottles of mayonnaise a week” “We have 10 people in the business who’ve been with us for 30 years” VALUABLE RESOURCES FOR YOU Website: www.leedsbusinesspodcast.com LinkedIn - https://www.linkedin.com/company/leeds-business-podcast/ Website: http://www.troyfoods.co.uk/ LinkedIn: https://www.linkedin.com/in/james-kempley-56702484/ Shout out tags: https://interpath.com/ DON'T FORGET THE LEEDS BUSINESS PODCAST ‘FAIR DEAL’ My half of the agreement; Every week I bring you inspiring Leeds Business people FOR FREE. Your half of the deal has two simple steps; 1) Share this episode with just ONE person who you think will get value from it 2) Post a review of the show or give this episode a ’thumbs up’ YOU MAY ALSO LIKE Other multi-generational business episodes; https://leedsbusinesspodcast.com/podcast/jamie-bentley/ https://leedsbusinesspodcast.com/podcast/michael-michaelson/ https://leedsbusinesspodcast.com/podcast/howard-moss/ https://leedsbusinesspodcast.com/podcast/chris-black/...