From Blacksmiths to $50 Million: How Oakley Plumbing Built a 150-Year Legacy on Partnership
Few businesses survive a century and a half. Even fewer evolve from forging iron and installing church bells to becoming a $50 million plumbing powerhouse. But Oakley Plumbing, celebrating its 150th anniversary in Christchurch, New Zealand, has done just that – and its secret isn’t just adapting to changing times, it’s a radical commitment to shared ownership that’s rewriting the rules of business longevity.
A History Forged in Innovation
The story begins in 1875 with Henry Oakley and John Taylor, initially blacksmiths and bell installers. Their skills weren’t limited to one trade; they were gasfitters, brass founders, and even manufacturers of car radiators – a testament to their adaptability. This early diversification, born of necessity and ingenuity, laid the foundation for a company that wouldn’t be confined by a single market. The company’s reputation for quality and a surprisingly progressive approach to employee welfare – regular picnics for staff and their families – fostered a loyal workforce, a practice remarkably ahead of its time.
Navigating Partnerships and Pivots
The partnership of Oakley and Taylor dissolved in 1919, becoming Oakley & Sons. A period of instability followed, with Henry Oakley’s death in 1924 and a failed attempt by one of his eleven children to continue the business. By 1934, John Taylor re-entered the picture, purchasing the company and running it alongside his existing engineering firm. This highlights a crucial theme in Oakley Plumbing’s history: resilience through changing hands and a willingness to embrace new leadership.
The Willis Era: A Partnership Revolution
The modern era of Oakley Plumbing began in 1995 with Denis Willis. Having previously worked for Taylor’s (the legacy business of John Taylor) and a smaller competitor, Willis saw an opportunity to build something different. His vision wasn’t about top-down control, but about empowering those on the ground. “When I took the company over fully, I asked all the people who had worked with me for 10 years if they wished to become partners in the business. And they all did – and they are all partners today,” Willis explains.
This isn’t a traditional profit-sharing scheme. It’s genuine equity. Each of the three new branches opened under Willis’s leadership has a branch manager who owns at least 25% of that location. This model, while unconventional, has fueled extraordinary growth. From a $1.2 million turnover when Willis took the helm, Oakley Plumbing is now poised to exceed $50 million in annual revenue.
The Power of Ownership: Beyond Financial Incentives
The success isn’t simply about financial incentives. Willis believes that ownership fosters a sense of responsibility and dedication that’s impossible to replicate with traditional employment structures. “If you work for yourself, you’ll put more into it,” he states. This aligns with research on employee engagement, which consistently demonstrates that ownership and autonomy are key drivers of productivity and innovation. Quantum Workplace highlights the positive impact of employee ownership on retention and overall company performance.
Looking Ahead: Succession and the Future of Skilled Trades
As Willis prepares to step back from day-to-day operations, the future of Oakley Plumbing is secure in the hands of a long-term employee – a plumber who initially declared he’d never *work for* Willis, but was eager to *work with* him. This succession plan underscores the importance of internal talent development and the power of building relationships based on mutual respect and shared vision.
However, the broader industry faces challenges. A shortage of skilled tradespeople is a growing concern globally. Attracting and retaining talent requires more than just competitive wages; it demands creating a culture of ownership, opportunity, and continuous learning. Oakley Plumbing’s model offers a potential solution – a pathway for skilled tradespeople to become stakeholders in the businesses they help build. The company’s success demonstrates that investing in people isn’t just good for morale; it’s a sound business strategy.
The story of Oakley Plumbing isn’t just a local success story; it’s a blueprint for building resilient, sustainable businesses in a rapidly changing world. It’s a powerful reminder that the most valuable asset any company possesses isn’t its technology or its capital, but its people. What innovative ownership models will emerge as the next generation of businesses seek long-term stability and growth? Share your thoughts in the comments below!