BIE Feature: November
5 Years in Business
Submitted by Chris Beaton, CEO and Co-Founder
What’s your story?
We're a tech start-up revolutionizing the electric motor buying industry.
The industrial manufacturing industry has been in the maturity phase for decades, and it is reliant on motors. With the continued investment and adoption of industrial automation in all sectors, the need for motors continues to increase exponentially. And here's where the problem lies with electric motor suppliers; local suppliers only work with select brands and can't keep a large inventory on hand.
Chris Beaton saw this challenge and sought to create a solution for his customers and the industry as a whole. We've aggregated the largest selection of electric motors in Canada from North America's top brands so that our customers can purchase motors anytime, anywhere. We've removed the manual steps of coordinating with the local supplier, allowing for a faster purchasing cycle. We've made it so our customers can find pricing, availability, lead time, and exact match alternative new motor products online. Having access to all the motor inventory in Canada (instead of what's in their local town), our customers are now empowered to purchase motors no matter where they are, regardless of the time of day. Our purpose is to help our customers decrease downtime by taking a currently local model, national and online.
Since our conception in 2016, we've grown by more than 170% each year, hired 19 full-time staff, and increased our drop-ship inventory to $75 million. We're excited as we look towards our future in the industry and in Edmonton.
What do you enjoy most about being a member of the Edmonton Chamber of Commerce?
The opportunity to connect with other members in our community. Through the last year, all trade shows or events we would have typically attended were cancelled or postponed, making networking nearly impossible beyond LinkedIn. Being a member of the ECC has been a great way to connect. But most importantly, the diverse network of members has given us a fantastic opportunity to interact with industry professionals who normally would be beyond our network.
What is one thing people are surprised to learn about your business?
Our drop-ship model allows us to pass along cost savings and get orders out faster. Traditionally in the electric motor industry, suppliers ship their products out of their local warehouse. We ship our products out of over thirty manufacturer distribution centres located across Canada. No matter where you are in Canada, we'll ship your order out of the warehouse that is closest to you.
What has been your biggest challenge in business, and how did you overcome it?
The top challenge that comes to mind is raising investor funds, especially in a region where we see many tech companies and talent leaving for "greener pastures." But, right now in Edmonton, we’re seeing a change. We're becoming a bit of a tech hub for AB. There's more incentive for skilled workers to stay here, and investors are starting to eye our region as a prime location to inject funds.
Edmonton has a unique business community and we want to highlight hardworking Edmontonians who have a story to tell. Each month, we feature a member or two in the Business In Edmonton Magazine and take an opportunity to share their story and find out why they enjoy doing what they do. Follow along each month as we feature members while helping amplify their stories on our website and social media platforms.
If you are interested in this opportunity to be highlighted as a Chamber Member, please contact our Member Services team at firstname.lastname@example.org