With a background in fabrics and upholstery, John Conroy is North East Chairman of The Furniture Makers’ Company and formerly Strategic Relationship Manager at Novuna Finance.
How might a child describe what you do?
I lend money to people.
What is the biggest long-term challenge you face?
Rising interest rates and volatility in SONIA and SWAP rates. This makes it difficult for businesses to forecast their subsidies several months out.
If you had 10 times your working budget, what would you spend it on?
Although I personally don’t have a budget, if I were a retailer I would spend it on stock. I still believe stocks are king. Despite recent supply chain challenges, in-store and online retailers have a responsibility to ensure a fast and seamless customer journey, including an efficient delivery service – if an item is out of stock, the customer will order elsewhere. E-commerce has brought instant gratification to all aspects of life, so why should furniture be any different?
What does “work/life balance” mean to you?
As long as I can get my kids home most nights and watch over 90% of Newcastle’s home games each season, I’m happy to work whatever the hours of the day are.
Who is your most influential professional mentor?
My father, Michael Conroy. I don’t think I would have ever found my way into furniture without him, which led me down the path I am now on.
What advice would you give your younger self?
“Everything will be okay in the end” is now my mantra. No matter how bad things get, they always end with a new opportunity or a new adventure. I learned from the bad, but I also learned not to be discouraged by it.
What is your best day in business so far?
Getting the Freedom of the City of London and becoming a Liveryman at The Furniture Makers’ Company on the same day this March – one of the best days I’ve had, steeped in 1000 years of tradition.
What is the biggest myth about our industry?
“British Made” always disappoints me. There are usually fabrics from China and components from all over the Far East. I think we should celebrate British manufacturing, but I also think we should sell the benefits of the international trade routes we have established to get the best products at the best prices.
What should everyone in our industry stop or start doing?
Every company needs to start going green. There is no downside to that. Going green gives the company good publicity, attracts additional demographics, and can do some good things for the environment.
Offer products with recycled fabrics or eco-friendly FR coatings. Very few customers would be put off by this, but many customers, especially the younger demographic, will specifically choose products because of their durability.
Where do you see the industry going in the next 5-10 years?
I think we will see a lot more technology being introduced into sofas and I can see imports shifting to India on a large scale. I also think we’ll see retailers offering same-day shipping on certain models as well.
This interview is featured in the June Furniture News.