Business planning

With over 20 years experience working in the container business, Stephen Fleming and John Hannon decided it was time to open their own shop. Before they could get their company, called Road and Rail Containers and specialising in the repair and modification of transport freight containers, off the ground, they needed a financial institution to back their business plan. They knew their idea was a winner but they also knew they couldn't succeed on their own.

They did their research, met with a number of banks and found that the Commonwealth Bank was the best fit for them and their business.

“As we were just starting out, we needed a bank that would assess our business plan, provide the support we needed and really help keep us afloat,” says Stephen.

“We were aware of the slow payment cycles in the industry and needed to be sure that we could cover our expenses in the lag time before payments flowed through the door. The Commonwealth Bank took a chance on us and our business despite this, and has supported us in a big way.”

The business opened its doors in 2004 and now employs 10 staff — a number that is about to double. Over the past three years, Road and Rail Containers’ profitability has been increasing and it is now servicing some of the largest and most well-known transport companies in the country. 

Stephen credited their Commonwealth Bank Local Business Banker, Milenko Novakovic, with being a great support and integral to the development of their business. 

Road and Rail’s success has led Stephen and John to expand the business into the engineering sector. Their plans will take a two-pronged approach with Road and Rail tendering for work in the energy sector and also developing prototypes for a new kind of freight container, including a servicing and repair offering.

Looking further ahead, the company plans to expand interstate within the next five years, and cover the Eastern Seaboard within 10 years. They have been discussing their options with the Commonwealth Bank, who looks forward to helping their business grow further.