By / Natalie Bruckner
When you think of an entrepreneur, folks like Elon Musk (SpaceX and Tesla Motors’ founder) and Jeff Bezos (Amazon founder) spring to mind. But being an entrepreneur doesn’t always mean starting a business from scratch.
In fact, many aspiring entrepreneurs become successful business owners by taking over an existing business, and as baby boomers now look to retire it presents many with the perfect opportunity, as Stew Johnson, owner of Delta-based Columbia Thermal Ltd. can attest to.
“Over the years I considered starting my own insulation business as I’ve always liked sort of idea of owning my own company, but the time wasn’t right. A few years, while working at a local supplier, one of my customers, George Thompson, mentioned he was thinking about retiring. A few months later, and after some consideration, I approached him with the idea and it just seemed to be the right time for both of us. It happened very naturally,” says Johnson.
While buying an existing business can come with certain challenges, there are also a great many benefits. One of the most important assets you can acquire is a healthy customer base, and that’s exactly what came with Columbia Thermal.
“George had built great relationships with his customers over the years, so it was essential to maintain and grow that. The business has primarily been through word of mouth and George had done such a great job building the reputation of the business, so it was important that I didn’t change too much,” says Johnson, who took the business over 18 months ago.
Johnson came to the table with plenty of insulation experience, not only in the field as a mechanical insulator, but also having worked as a sales representative and consultant in the industry. This gave him an understanding of the importance of nurturing relationships, not just with clients, but staff as well.
“I’m a great believer in surrounding yourself with the right people and creating a healthy and open work environment. I want my employees to know they can come to me an issue, whether that is work or personal,” he says.
It’s this family feel and attitude that has undoubtedly attracted a talented team and also some great clients and projects. While many of the projects are indeed on the smaller scale, one of the most recent that stands out for Johnson is Daiya Foods, although every project is gratifying in one way or another.
COVID-19 hasn’t impacted Johnson’s business too much, and he is grateful to Thompson for having set such a great foundation for the business, and thankfully work is beginning to pick up too. However, it’s not all work, work, work for Johnson. Well, not always.
“It surprised me quite how consuming owning a business can be. You tend to think about your business every minute of the day. But I am a firm believer that you need other outlets and to make sure you still make time to do other things you enjoy. That’s definitely the biggest challenge and one I am still learning,” he says.
So what does Johnson do when he has time for himself? It’s fair to say that yes, Johnson marches to the beat of his own drum.
“I like to get out and bike ride, and I also play music. I’m a drummer, and while I haven’t found the time to form another band yet, I like to get together with friends for an impromptu jam.” ▪
