Løten RC-Shop AS started from the passion of radio controlled product enthusiasts. Selling leading brands of drones and other radio controlled products across Norway, they grew the business by 175% between 2012 and 2016, resulting in them being named the Dagens Næringsliv Gazelle 2016 in Løten. So, what is their secret of their success? We talked to Geir Brubakken, the founder of Løten RC-Shop AS.
“My best advice to anyone who wants to start in the industry is to really examine the market before starting.”
Hi Geir! What does your business do?
We deliver RC products from the largest suppliers in the world to all of Norway. We have an online store and a retail outlet in Løten, Hedmark and offer service and repairs to most radio controlled products, mainly cars, airplanes and boats.
When did the business start?
We started in 2005 with an online store, then in 2006 we opened a retail store and in 2012 we created a separate limited company.
What inspired you to start your business?
We were RC enthusiasts ourselves, but we couldn’t find parts or products we needed at local stores, so we had to import them ourselves. Over time we established contacts in the RC industry in several countries.
How many people does your business employ today?
We employ 1.5 full-time equivalents
What is the secret of your success or the best business decision you made?
Our success is built on following some simple retail rules; have parts in stock for the products we sell; have our stores and sales channels available when customers are free from work; fast and correct deliveries; and provide high service levels to customers.
Biggest lesson learned or what advice would you give someone starting up?
Things that seem too good to be true usually are. My best advice to anyone who wants to start in the industry is to really examine the market before starting. You should also have good backing from family, friends and not least a good bank.
Which apps do you connect and how has it helped your business?
We have linked our Mystore webshop and point of sale (POS) system to Fiken, which means that our sales automatically enter our accounting system, which is golden for us. It makes the job easier with accounting and gives us a full overview of orders and sales.