Goldcopy Office Solutions, based in Burnaby, B.C., is specialized in copier services and cost-effective office equipment solutions. Their services include the rental, lease or purchase of equipment, print management services, as well as print accounting and management software. The company has over 23 years of experience in its industry and has nine employees.
When the President of the company Gang (Gordon) Xing realized that he needed additional warehouse space to accommodate robust growth, he also saw a timely opportunity to improve his management skills — particularly in human resources — and implement effective sales and marketing initiatives to penetrate new markets and increase sales.
BDC had the right solutions to meet the needs of the company. Through a commercial real estate loan, the bank financed the acquisition of a building with warehouse space to house the company’s inventory. To meet the firm’s ongoing growth, the bank also provided working capital to purchase additional inventory. As well, BDC’s experts provided the owner human resources coaching to develop and position job profiles in order to better define roles. The coaches also helped the client develop sales and marketing strategies to increase reach and generate more sales.
As a result of BDC’s financing, Goldcopy Office Solutions is no longer leasing and now owns a building with warehouse space, which is a significant asset for the company. As well, the company was able to increase its inventory to meet the needs of new clients. With the help of BDC Advisory Services, Goldcopy Office Solutions was able to penetrate new markets, achieve a 36% increase in sales in 2016, as well as increase its profitability. By hiring a technician and office manager, the owner has been able to delegate tasks, which frees up more of his time to focus on the overall performance of his business and bring the company to a new level.
“We appreciated BDC’s support, not only for financing but also for coaching, which helped us figure out the best ways to grow our business,” says Xing. “BDC brought us both HR and sales and marketing strategies that really helped a lot.”