Rene is the founder and owner of 24 sports prizes and emblems back in 1993, and today Denmark's largest supplier of prizes, medals and trophies. They deliver ranging from dog show to large sports competitions for children. Today he employs 4 employees in his production outside the industrial district of Hårlev.
Rene started his journey as an independent after, as a therapist at a treatment center, he imported annual coins to celebrate milestones in his development in areas such as sobriety. At the time, it was said that when you converted for more than DKK 10,000 a year, you had to register for VAT. Just as he rounded up VAT registration, he began to get inquiries from other associations about whether he did not also have medals. In this connection, he started by making a cooperation agreement with another medal supplier in the area, which he bought them from and sold on, and in this way the company was started.
Rene, like many other traders, has experienced heavy losses during Corona, with virtually all events cancelled. Typically, he supplies trophies and medals for sporting events where 1,000 - 1,500 children each need a medal to have participated. Today he supplies 80% of all Danish sports clubs.
Even during corona, he has managed to keep his head up, stay positive and motivated. With the idea that when corona is over he can then again see the joy in the eyes of the children who receive his medals and trophies. And now he's looking forward to it all starting to open up again, and he can again start looking forward to the company growing again.
The challenges of a pandemic
It is quite clear when you talk to Rene that he is passionate about his company, and that not a single day during corona has he wanted to stop has also helped carry him through a tough year.
Also the help packages he has had the opportunity to search have helped him to just cover the bottom of the hole he has come out with. Here you will get a full understanding of the way the aid packages have worked, as Rene says: they have given to the bottom, but have helped society as best it can, so there is little for everyone.
If you want to poke Rene, it also sounds like the biggest problem has been the waiting time for the help packages.
Each time an aid package was opened up, he has had the opportunity to apply for two months, which has then been a processing time of 4-5 months. What he's needed is a here and now down payment, the relief packages have had to cover the bills that couldn't wait any longer. Rene says he needed an optimistic approach:
Now we give the funds that are needed, and then it must be repaid afterwards.
The Qred loan has been used in particular between the disbursements of the aid packages.
The experience with Qred and a Qred Business Loan
The bank is and has always been conservative. Sometimes you might need 100,000 very quickly and I'm willing to pay a little more for it, and it's not so cumbersome all the way through. When I approached you, I had a chat with you, everything looked fine. Then I use you as a sparring partner when it all has to go a little fast and sometimes the banks can be a little heavy to dance with.
And you as a trader don't have the time to do that, so you'd rather pay the price and then have a good back cover.
With the loan from Qred, it has helped to cover the gaps between the aid packages being paid out. It's been a big help.
I would recommend Qred at any time, I will not be wise to what is relevant for another business owner to spend a loan on.
Your customer service and friendliness are just for piling up, always flexible and helpful.
You see opportunity rather than limitation. If you're going to be a blackie, the difference between you and a bank is that you're in favor of development and the banks are in favor of resolution. The banks always see problems in everything where you see opportunities for development, and you need that as a trader. Income doesn't always come up with a fixed system, but then it may be that for a period of time it pours in, and then there's a little less to do with another time.
The fact that you helped me when I needed to also means that I would like to help afterwards, you were just there.
Do you have any advice for someone who dreams of becoming an entrepreneur?
Should I have done something different, I would have saved more before I started, and not put the house and everything else at risk that I chose to do. A healthy business I will start by having some capital myself. And then get two crowns in every time a penny is spent.
The most important thing is service, I appreciate good service. It is only what is important to customers that applies, what customers need and when is the most important thing if the company is to be successful. Because we are not used to this today, which therefore helps to create additional sales. It is service and what the customers ask for as we adjust.
Also read here our 8 tips for an entrepreneur