WHEN a three-year-old business renting out portable loos to building sites manages to raise $4 million from private investors in the space of two years, you take note.
You ask “what sets this business apart from the tens of thousands of hopefuls with their hand out looking for capital?”
Mechanical engineer turned entrepreneur Jim Noort has a simple answer: “You need a good story to tell investors. You need a differentiated product. And you need a dunny that’s clean.”
With memories of the hit film Kenny, about a portable toilet installer with a “dirty” sense of humour, it’s easy to see why Noort has attracted plenty of interest.
Investors, however, need more than humour and a good story to part with their capital. They need a take-no-prisoners entrepreneur, a cash-generating business and a market with its incumbent large operators asleep at the wheel. Noort’s Viking Rentals appears to meet the investment criteria.
The Brisbane-based supplier of portable toilets was founded in 2006 on the premise that going to a portable loo should not be an unpleasant experience.