Everyone likes to read a good success story every now and then. It gives us hope to learn of others, like ourselves, who have done something we dream about. It helps us to believe a dream can become a reality.
The Grand Idea
Sam and Byron Dyck of Trennen Industries have experienced a business-building dream. In 2014, these two Albertan cousins had an idea about the possibility of a brand new way of abandoning an oil well. They did some research, gathered some feedback, and decided that this could potentially be a fantastic business opportunity.
It Costs Money To Make Money
As they continued to research and to determine what they would need to start this business, they realized that the equipment they would require was quite costly. In fact, it was completely cost-prohibitive.
The first step in finding the money they needed was obtaining some investors. Sam and Byron managed to find two individuals who agreed to invest in their brand new company – Trennen Industries Ltd. Even with the money of the investors, they still did not have enough money to purchase even one piece of equipment they needed to start operations.
Enter Lease 1 Financial. Byron and Sam came to us to discuss the possibility of equipment lease financing for their new company. They were able to use the money from their investors as down payments and obtained leases for all of the equipment they needed.
A New Business Is Born
It took several months for Trennen Industries to acquire, set up, and test all of their new equipment. By July of 2015, they had their first job and business had begun. In a few weeks, they had a 17-well project. By mid-September 2015, they had managed to win a bid for a project involving 125 wells and 130 risers. This was the first major project of its kind in Saskatchewan.
Business is Booming
Trennen Industries has gained an incredible amount of outside interest in their innovative methods of cutting and capping wells. They have had companies across Alberta wanting to work with them on multiple projects and operations, and they already have 4-6 projects upcoming in 2016, totalling several hundred wells to abandon. This is a huge step for this start-up company! Barely working for 6 full months and already Trennen has become a name to contend with in the Alberta and Saskatchewan oilfield marketplace.
Congratulations, Byron and Sam, and great work!
Trennen Industries is the perfect example of why Lease 1 Financial exists! Our passion and our goal is to help your business thrive – whether it’s a well-established company or still just an idea. Sam says, ”Brenda and the team at Lease 1 Financial have helped us with all of our financial needs, as well as helping us through the process of purchasing our equipment, and even going so far as to give us general and practical advice as we’ve gotten our business started and seen things grow so quickly.” We appreciate his gratitude, but more importantly, we love to see the success of two young Canadians with a great idea and a passion for their business!
Thank you Trennen Industries for sharing your story with us!