Vanaways plans to double turnover to £200m by 2027

Vehicle broker Vanaways has revealed ambitious plans to double turnover to £200 million in the next two years.

The Bristol-based company has seen turnover rising from £15m in 2020 to £109m in 2023.

The company said it has invested in technology, artificial intelligence (AI) systems and new team members to underpin its growth plans for the next 24 months.

Founders Adam Carter and Chris Jakeways have plans to make Vanaways "the best-regarded vehicle broking brand in the UK".

Carter said: "We’re aiming for £200m turnover and vehicle sales in excess of 10,000 units within the next 24 months.

“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 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."

Carter also said 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 AI-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."