GENPOWER (Pembroke Dock)

Origins

Having previously run an international refrigerated transport business, the founder wanted a business that could be run from Pembrokeshire and not be disadvantaged by the location; be scalable and have the whole of the UK as ts market; have minimal risk of bad debt and non-perishable stock; and be specialised enough to avoid competition from the ‘big sheds’ but have a large enough nationwide market place to allow rapid growth.

Our main challenges when starting the business

Access to funding for stock is the biggest limiting factor to growth. Being based in Pembrokeshire and running a niche business, we found specialised skilled labour difficult to source.

Success Factor

One of the key strategies which has driven growth of the business is Genpower’s new B2B online ordering system for dealers. This has only recently been introduced to its current dealers, but already it has proven to have a rapid take up and we have seen increased sales driven by incentives to order online. This system has helped to reduce administration and increase productivity massively. The strength of the Hyundai brand has also continuously helped to expand the business, allowing Genpower to rapidly increase the size of its dealer network, driving sales upwards at an impressive rate. In addition to this, product innovation is key to growth and it keeps ahead of the competition by continuously adding innovative features to its products, which leads to an increased demand. Finally, the growth of the business has also been aided by a recent move to larger premises at the start of 2014 which increased the unit size from 1,000m2 to 10,000m2.

The Future

Genpower will continue to add to the Hyundai product range making the firm a force to be reckoned with in the UK Outdoor Power Equipment market. Along with Hyundai, it will be developing the Evopower PRO series range of power equipment for the professional market in the UK and overseas.The growth in online sales will be maximised with fully functioning B2B and B2C websites, linking via APIs to our main customers, whose orders will be fed into the system automatically, creating a seamless purchasing procedure, improving efficiency and driving the business forward. It will also be adding to and promoting the range of Power Equipment from BE Pressure, who Genpower are the UK distributor for.