Genpower (Pembroke Dock)

Origins

Before starting Genpower, the founder ran a small refrigerated transport business and an internet based freight exchange. The transport business was involved in European temperature controlled transport and during the last few years, it was unable to be run profitably and therefore the size of the fleet was reduced and the remaining few lorries sold to pay for the first couple of containers of generators. Hence Genpower was born. The reason for starting Genpower was to capitalise on the looming energy crisis facing the UK by supplying affordable standby generators for home and small business use. During the early years, the business faced major problems raising the funding to purchase enough stock to meet the sales we were aiming for. As the business grew, it had to move to larger premises several times to keep up with demand. It has also worked very closely with the factories in the Far East to improve quality.

Success Factor

Genpower has been appointed exclusive distributors for the UK and Ireland for Hyundai Power equipment. This has been a big driving force in its rapid growth, the brand being a very strong seller and Hyundai in Korea setting strong sales targets. In addition, the product range it has developed with Hyundai offers a very wide range of products that allows the firm to offer its dealers a year round product range.

The Future

It is Genpower’s intention to double turnover year on year for the next two years and then the increase will continue at a more controlled pace. It hopes to reach a turnover of £30m by 2019