Word of mouth helps small business achieve £1m turnover target
- Credit: Fengate Fasteners
Success achieved during the pandemic has resulted in a small family-run business expanding into a new shop and being on target to break a £1m turnover target.
Nestled in the market town of Brandon, hardware shop Fengate Fasteners has grown rapidly by word of mouth over the last two years.
"During the pandemic we were classed as an essential business so we were able to remain open and trading all through lockdown," said George Trudgett, business development executive.
"During the winter before the pandemic we had a Christmas promotion running, so when we went into lockdown we had a lot of people coming in through the door and word got around with the public."
That year the firm achieved a turnover of £600,000, which it is set to nearly double when it gets to the end of its current trading year at the beginning of March.
Part of the business success over the last six months has been down to expanding into a new shop on Norwood Road off London Road in the town. During the move the company took on a new member of staff, bringing its total number of employees to six.
This expansion has helped footfall into the shop increase by 30pc.
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Before its move, the firm had been in its previous shop for 40 years and during that time had grown a loyal customer base of Norfolk and Suffolk companies needing hardware products.
But with plans to continue its growth, the company is looking to attract both the general public and regional businesses as customers.
Hannah Clarke, branch manager, said: “Our plans for the future with the shop is to continue serving the needs of both local business and public and overall is for business growth with our trade customer throughout East Anglia.”
With competition from high street giants like B&Q, as well as small hardware shops, achieving its growth plans will be challenging for the small business. But Mr Trudgett is confident that the business will achieve its goals, adding: "I'm looking for opportunities all the time."