21st November 2017
Ryedale Auctioneers was started by Angus Ashworth in 2010 and is based in Kirby Moorside, North Yorkshire. Ryedale has been a member of Connect Yorkshire for 4 years
Ryedale started business by running low value weekly auctions mainly of furniture and household goods with fortnightly “outdoor” sales.. Three years ago Ryedale ran a military auction for the first time which was successful and although Ryedale have run one or two product specific auctions such as clocks and watches or railways and toys, they have not been as successful as the military ones.
So the issue was whether Ryedale should go down the product specific auction route or carry on with its bread and butter auctions.
The Springboard mentoring session was with Entrepreneur in Residence John McDonnell and took place in November 2016; John was already familiar with the business as Angus was and is a member of the Connect Leaders Forum which John chairs.
Specifically the issue discussed was whether Ryedale should try to carry out more military auctions. John identified that the management information available was very weak with no separate information about the various streams of the business. Over several sessions John helped Ryedale to introduce proper management information including budgets, KPIs etc and as a result Ryedale were able to identify that the military and guns auctions were the most profitable
Progress since the advice was given.
The turnover of Ryedale from military and gun sales has DOUBLED between 2016 and 2017 at a much better margin than the general auction business. Ryedale is now considering whether to become a more product specific auction house