Homespares on course for £6.7m revenue

HOME appliance parts supplier Homespares has announced ambitious growth plans for 2016 as it looks to increase turnover and grow its share of the market.
 
The Bolton company, which was established in 1962 by Douglas Farnworth,  supplies more than a million spare parts for five million home appliance models from a wide range of manufacturers.

Homespares is forecasting a 60% increase in turnover for 2016, from 4.2m to £6.7m, thanks to a number of board changes, a recruitment drive, and new exclusive distribution rights.

Since Kirk Whitehead became managing director in August there has been a 20% month-on-month increase in profit since the appointment, with across both traditional platforms and online up by 46% year-on-year.

Over the last six months, the firm has expanded its call centre, invested in a new website and implemented a marketing strategy, increased its work force from 32 to 43 employees, built on its product range, and become the sole distributor for the largest home appliance manufacturer in the world, Severin.

Whitehead said: “We have set ambitious growth targets for 2016 but I’m confident we have the foundations in place to meet them.

“For the past 63 years, Homespares has been supplying a fantastic service and has built up a product range that’s second to none  – our market share is growing, our employees and business partners are excited by the new stage of growth, and our plans for the future reflect the positivity we’re getting from customers, both loyal and new.

“The launch of Severin – which has a 60% market share of the home appliance market – is a massive step forward for us, the range is extensive and covers everything from food to cleaning. It’s testament to the reputation of Homespares that Severin chose us as the sole distributor for its launch into the UK market.”