Smart Repairs set for major growth
Independent cosmetic vehicle repairer Smart Repairs has announced major expansion plans following a record-breaking year.
The Leeds-based company, which has recently bought 18,000 sqft freehold premises in the city, is looking to hire 100 new technicians across the country this year.
This is a result of a stellar 2021, which saw turnover rise to £5m from £3m in 2020, despite the challenges of Covid-19. This year turnover is forecast to soar to £7m, with net profit set to exceed £1m. During the past three years, the company’s Compound Asset Growth Rate (COGR) has increased by 24%.
Smart Repairs, which boasts most of Yorkshire’s major car dealerships among its clients, is co-owned by its founder Dan Besau and major investor Phil Newstead and carries out 180,000 vehicle repairs a year.
Newstead said: “Clearly the global pandemic had its challenges last year, but one of its consequences was a boom in the second-hand car market, which naturally led to a great deal more work for us. We managed to stay open and working most of the time, despite the difficulties of the various lockdowns.
“We are now expanding across the UK this year, with a special focus on the M25, Essex, the North West, the North East and Scotland. We are now hiring experienced mobile technicians to help with this expansion drive, which will see full UK coverage by the end of the year.
“At the moment, our sector is very fragmented and dominated by small independent operators. We believe that by strategic expansion and acquisition, we can build a national network that can then service customers with a national requirement. Whilst all growth to date has been organic, we are also keen to look at acquisitions and we will target similar successful independent cosmetic vehicle repairers. We can both see that our future is in providing a quality repair offering across all of the UK, to warranty companies, insurers, dealer groups and vehicle remarketing companies.”
Besau said: “It has given me tremendous pleasure to see how the company I founded in 1995 has developed. We have gone from strength to strength in recent years. The mobile business has proved popular and successful and, when I spotted a gap in the market for high-end alloy wheel repairs, I had the confidence to go for that, too.
“With Phil now on board, the sky is the limit. The future is incredibly bright. Let’s bring it on.”
