By tom pegden carpet retailer, Publisher of business Deputy, opened a new showroom and warehouse after an investment of r $ 2.5 million. Colourbank opened a second outlet off road Lewisher, in Hamilton, North Leicester.It replaces an old warehouse in neighboring Longfellow Road, which was opened three years ago.He is currently working together with the company's original superstore in Cavendish road, outside of Saffron Lane in the South of the city.
Bed sales now account for 30% of the business.Owner Trevor Johnson said the company doubled in size in a decade and he hoped that double again in the next 10 years. Turnover is now about 5 million pounds.Mr Johnson started the carpet business for 25 years with four employees. Today has 24 employees.
The new seat covers 30000 m and is double the capacity of old highway facilities Longfellow. It was built on land purchased by the company for £ 300000.Based on three floors, he is working as a warehouse, as well as a store of rugs and bedroom. It also includes a counter trade – a new direction for the business – while a room furniture showroom on site will open in about two months.Mr Johnson said the investment was made possible by a loan of £ 1 million of Lloyds TSB.
He said: "this consolidates two warehouses and gives us more space and incorporates a new showroom and trade counter."It also gives us a presence North of the city."Get Bank financing was no problem at all. Had borrowed them before a previous deposit, so that they know they can trust us."We looked to the proposition and saw everything made sense.
"There is a small investment, but it will put us in a situation where we can deal with more growth."The market is down about 30 percent at its peak in 2007, while our turnover is up in this period by about 20 percent. People still want to buy, but they want to buy cheaper. We can lower the large groups because we can work much faster than they can. "
Colourbank contract manager Chris Boardman said: "trade has been excellent and we will be adding bedroom furniture in about may."We also want to get more for the contract side of things-home builders, schools, this sort of thing, where we can win high-value contracts".David Williams, relationship manager for Lloyds TSB commercial, said: "Colourbank success lies in its ability to grow in a sustainable fashion as well as having a compelling business plan."Colourbank is a perfect example of how to develop a good relationship between a company and its bank to meet the needs of the company."
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