News / Vanaways
Vehicle broker sets out ambitious plans to double turnover in two years
A vehicle broker, which made it onto the Sunday Times Top 100 league table, has unveiled plans to double its turnover to £200 million within the next two years as it celebrates its 10th anniversary in business.
Vanaways, the Ham Green-based company, has experienced impressive growth since the pandemic, with turnover increasing from £15 million in 2020 to £109 million in 2023/24.
The company has made significant investments in technology and artificial intelligence, alongside carefully selecting top talent from across the UK, with the goal of achieving further expansion over the next 24 months.
Founders Adam Carter and Chris Jakeways have stated that the company is “only just getting started” as they work to establish it as the most respected vehicle broking brand in the UK.
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Carter said: “We are targeting a £200 million turnover and vehicle sales exceeding 10,000 units within the next 24 months.
“But we want to do this the right way. We could grow faster by heavily investing in Google ads to drive leads and treating customers poorly. But where would that leave us?
“Instead, we are focusing on organic growth and maintaining the ethos that has brought us success so far. While we may already be turning over £100 million, we are just at the beginning.”
Debt-free and committed to organic growth, two key elements of Vanaways’ future expansion will be technology and retaining the right people, Carter explained.
The company currently employs 70 staff members, both across the UK and at its head office in Ham Green, just outside Bristol.
Carter continued: “In 2023, we reassessed our approach to hiring. We created a wish list of all the top staff we’ve worked with in the past and would like to bring on board. We then partnered with a recruitment agency to help us find and hire them.
“We also adopted the philosophy that, if they’re good enough, they can work from anywhere in the country. Thankfully, we don’t require fixed office locations since we operate nationally. As a result, we have staff based across the UK.
“For those who work locally and come into our office, we’ve focused on making the office a fun and engaging environment. We’re enhancing office incentives as part of that effort.”
Carter also highlighted how artificial intelligence is proving to be a powerful tool in managing customer relationships and driving efficiencies in the sales process.
“We’re investing in technology to optimise the customer experience,” he said. “Our phone system is already integrated with artificial intelligence, so every word spoken is transcribed, and any red-flag words are flagged to managers in real-time.
“In the future, we plan to use technology to explore how we can attract new customers and ensure our staff can respond to their needs more swiftly than ever.”
“What’s vital to us is that we retain our core values – quality, personal service, trust, and honesty. Without these, we risk losing the qualities that have made Vanaways such a success over the past few years.”
Main photo: TurnTheTables+
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