Creative solutions improve productivity. There are loads of opportunities to innovate the market – this was proven again when ProfitShare Partners met and funded X-haulted Trading & Projects, who has invented a simple yet effective solution that has benefitted a global motor industry giant in South Africa.
Established in 2009, X-haulted Trading & Projects (X-haulted Trading) is an intermediary company that focuses on establishing and enhancing business alliance relationships through integrated strategic solutions. The SME offers its clients facilities and property management, manufactured leather products, fleet and courier services, and automotive component supplies amongst others.
In February 2018, X-haulted Trading was awarded a contract to manufacture and supply 2,000 no-scratch leather belts for the protective wear of employees for a global motor manufacturer in South Africa. The order is a custom-made solution that eliminates damage to a luxury vehicle model during the assembly process.
Prior to securing the contract, Managing Director of X-haulted Trading, Collins Soko, was tasked with developing a sample of the solution to present to the client. He came across a similar concept that is available in the USA, which he modified and produced to present to his client. X-haulted Trading is the first company to introduce this inventive solution locally.
“I’m really excited to offer such a product to the motor industry in our country. After doing my research, I sourced all of the materials to create the solution to suit my client’s specifications,” said Soko.
However, the SME needed funding to produce the full order. Through a mutual contact, X-haulted Trading was introduced to ProfitShare Partners to discuss how the disruptive funder could assist with the requirements of the contract.
“We urgently needed capital to fund our project and we couldn’t find a lender who could help us at such short notice. With ProfitShare Partners, it took a maximum of five days for us to get the funding we needed. In my mind, I thought that they took a huge risk with us but the contracts were in place and everything worked out perfectly,” Soko added.
The quality of the solution was so well-received, it secured another order of 3,000 belts from the motor manufacturer. This small business with smart ideas has since expanded its offering to their client by introducing more solutions that would ensure the health and safety of employees while simultaneously protecting the manufacturing process by eliminating damage.
X-haulted Trading has partnered with ProfitShare Partners on two orders to date, which has enabled them to procure the required machinery to take their business to the next level.
When the SME was formed nine years ago, it was determined to create job opportunities for the youth, women and people with disabilities by making use of business opportunities in need of their services. X-haulted Trading has managed to create five new jobs that are related to the project, while sustaining 15 contractual jobs since establishing a relationship with ProfitShare Partners.
“Our relationship with ProfitShare Partners has been excellent and rewarding. Because of the quick, effective funding solutions they offer, we have managed to secure larger contracts and introduce new solutions that have expanded our offering to clients,” said Soko.
X-haulted Trading has since expanded its inventive solutions for the luxury motor manufacturing client to include fender cover mats, watch and ring protectors, centre console protectors and stickers for fender covers for luxury SUVs. They demonstrated their commitment to offering customised solutions to their client when they modified 500 fender covers on site to improve the fit in order for the vehicle sensors to respond when tested during the manufacturing process.
“ProfitShare Partners is disruptive – they covered us at the right time. So many entrepreneurs have challenges with funding. This unique and different approach is what the market needs at the moment. I wish more entrepreneurs would partner with ProfitShare Partners,” concluded Soko.