The Word

JANUARY, 2005- Paladin Industries projects growth
in spite of economy

When westerns were popular on television several years ago, there was one popular show about a fast gun for hire who was dressed in black. He would show up just when things were looking really bad for someone, or a town, or a business. He would hand over his business card and proceed to do what a small, well-trained army couldn’t do – perhaps because he used somewhat unconventional methods.

            Tim Bolick and his wife, Elaine, appear to be doing just that in what everyone else believes to be a depressed furniture industry.

            In 2002, when the new reports said the furniture industry was on the decline in the United States and many of the jobs were being sent overseas, Bolick took the name of the gunfighter dressed in black, and opened Paladin Industries, Inc. in Hiddenite.

            The couple had both worked at Alexvale, which had been sold to La-Z-Boy in 1999. They found a couple of others, including Tommy Ayers, who were willing to take a chance on a new company, and leased 35,000 sq. ft. of warehouse space.

            Going into the year 2005, Paladin Industries will close on the building they leased three years ago, and their workforce that has grown to 70 employees will occupy the entire 150,000 sq. ft. of warehouse space to create custom-upholstered furniture.

            Paladin Industries, Inc. has several large specialty customers like Domain Home Fashions, with stores in seven eastern states, and Dillard’s.

            “We sell to custom-oriented retailers,” said Tim. He admits that Paladin has found a niche in the industry that doesn’t seem to be appealing to the Chinese or other countries that are providing cheap labor for furniture producers.

            That approach to the industry appears to be working. As many were getting ready for Christmas, the employees of Paladin were moving things around to prepare for a January expansion. Bolick plans to add 15 jobs at the beginning of the year, and predicts the company’s total workforce will be about 100 by Christmas 2005.

            Bolick’s business philosophy is simple: “We give the customer more than they expect, and a lower price that they expect to pay.”

            He and his wife also give the credit to their dedicated employees, and a belief that families are more important than furniture, and that pride in workmanship is extremely important. They believe that all of those things go together in the making of a successful company.

            “We try to convey to all our employees that their family comes first,” said Tim. “Your family is more important than a sofa.”

            “We want them to know that we care about them,” added Elaine. “And that is reflected in the quality of the products we produce.”

            “We hope everybody that works for us wants to retire here,” said Tim.

            Second priority is pride, according to Elaine. “You have to take pride in what you do. We want people who always give 110 percent. The company they work for should miss them anytime they aren’t there,” she said.

            “You have to always do the best you can, and be happy at what you are doing,” she said.

            “And, you should take the time to do it right the first time,” adds Tim.

            “We are especially proud that we have a return rate of one-tenth of one percent,” he said. “That is unheard of in this industry.”

            I think that’s because our employees care about quality, and that’s because we care about them,” said Elaine. “We know all of our employees, they know us, and we recognize them for the good work they do.”

            “That really is what makes it all work,” said Tim.

            Another part of the company’s success is that the Bolicks believe in managing their growth.

            “We aren’t necessarily looking to get bigger. We don’t want to outgrow this building or ourselves. Sometimes companies grow too fast, and then the business starts to manage you instead of you managing the business,” said Tim. “We want to take care of what we have and take care of our good customers by giving them outstanding service.”

            “When I look back, it’s been really great. But that first six months I spent many sleepless nights trying to figure out if it was all going to work,” he said. “But Elaine is the optimist who always said it was going to work.”

            “It’s been a lot of fun, but it’s also been a lot of hard work,” Elaine said.

            She does the merchandising of the company’s products. Tim runs the company.

            The couple has two children, daughter Jordan (16) and son Jonathan (14). This year, they are also hosting an exchange student from France. Neither of their children has expressed a strong desire to enter into the furniture industry, according to their parents.

            “When we first started this business, Tim and I had to go to market for 10 days every year,” said Elaine. “Jonathan just hated that. He said he would never go into the furniture business, just because of that.”

            Right now, the Bolicks – and their employees – appear to be happy that the company is running ahead of the business plan.

            Paladin has come in and changed the complexion of Hiddenite. But then, says Tim, “the word Paladin means champion if you look it up in the dictionary.”