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This is Chris Redgrave for Zions Bank Speaking on Business.
When creating his business in the 70s, Willie Smith decided to go to a rural community in Utah where he had a better chance of establishing his home and business more affordably. Now 36 years later, he and his wife, Virginia, have proudly built up several legacy businesses that they're leaving equally to their five children.
One of his successful companies is Willie's Hot Oil Service, now worth approximately $3 million and located at 235 N. 1500 E. in Roosevelt. Willie and his son, Jeffrey, are in partnership, supporting the booming oil and gas industry. He says with 51 percent ownership, he'll still be calling the shots, but he's excited to pass the business on to the next generation.
They support the Uintah Basin energy industry by leasing out pump trucks to the major oil companies. These are the big 10-wheel Peterbilt trucks. Part of what makes Willie's Hot Oil Service successful is that it's servicing a very high-risk industry with hot oil truck rigs. That's one of the reasons the big companies subcontract out ... because of the liability. Like Willie says, it's the difference between suing little and suing big.
Probably what Willie and Virginia are most proud of is how they taught their kids the value of a dollar, a hard day's work and how to run a business. This is why the second generation is now poised to take all the Roosevelt Smith family's businesses to the next level. Just at Willie's Hot Oil Service alone, there are now 25 employees, one who has been with them for 35 years.
You don't want to mistake Willie for a good old boy because he has natural business acumen. In Roosevelt, he's known as the smartest financial brain because he can pinch a penny until it screams. Even though Willie always knew the risk was there, he set Willie's Hot Oil Service up and beat the odds by treating his employees fairly and hiring extra staff to look for safety issues, with continued safety training.
For Zions Bank, I'm Chris Redgrave, speaking on business.
Willie Hot Oil Service 235 N. 1500 East Roosevelt, UT 84066 435-722-3651
