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Above: Vanaways founders Adam Carter, left, and Chris Jakeways
Rapidly-growing vehicle brokers Vanaways have revealed plans to double turnover to £200m in the next two years.
The Bristol-based company has seen spectacular growth since Covid-19, with turnover rising from £15m in 2020 to £109m in 2023.
It has now invested in technology and artificial intelligence, as well as handpicking preferred personnel from around the UK, to aim for further growth over the next 24 months.
Founders Adam Carter and Chris Jakeways say the company is “only just getting started” as they plan to make it the best-regarded vehicle broking brand in the UK.
“We’re aiming for £200m turnover and vehicle sales in excess of 10,000 units within the next 24 months,” said Adam. “But we want to do it right. We could grow quicker by spending lots with Google, driving leads and treating customers poorly. But where would that leave us?
“Instead, we’re trying to grow organically, continuing the ethos which got us where we are now. We may be turning over £100m already, but we’re only just getting started.”
Free of debt and with organic growth, two key elements of future expansion at Vanaways will be technology and retaining the right people, said Mr Carter. Vanaways staff around the UK and at head offices in Ham Green, just outside Bristol, currently stand at 70.
“In 2023 we went back to the drawing board with hiring,” he said. “We essentially wrote a wish list of all the best staff who we’d previously worked with and who we would like to be at the company. Then we tasked a recruitment company with going out and hiring them.
“We also took the approach that if they’re good enough, they can work from anywhere in the country. We’re lucky in that we don’t really need a fixed position as we work nationally. So we have staff based all across the UK.
“For those that are local and do work from our office HQ, we’ve tried to really focus on making the office a fun and engaging workplace to be in. We are focused on improving office incentives as part of that.”
Mr Carter also said that AI is proving 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 artificial intelligence-linked so that every word spoken is transcribed and any red flag words will alert managers in real time.
“In the future, we plan to use technology to explore how to gain new customers and ensure out staff are able to respond to their demands quicker than ever.
“What’s crucial to us is that we retain our company values – quality, personal service, trust and honesty. Without those we lose what’s made Vanaways such a success over recent years.”
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