By Joe Jeffrey
Stock level increase as Elite Motorhomes celebrates new funding deal
One of the UK’s largest retailers of motorhomes, Banbury-based Elite Motorhomes Group, is to increase levels of stock in response to record demand following a £1.17 million funding deal with Santander Corporate & Commercial. The firm is on track to see turnover grow 20 per cent from £10 million in 2015 to £12 million for 2016 as the UK public looks to buy increasing numbers of used and new motor homes.
Established in 1995 and still family owned by the Maynard family, Elite Motorhomes has become a leading seller and buyer of motor homes with a pan-UK client base. The firm has seen its Banbury site expand, from around 20 vehicles initially on-site to more than 60 currently, and has successfully driven new business by participating in increasing numbers of trade shows, events and proactive marketing initiatives.
The funding from Santander Corporate & Commercial has allowed the firm to both increase levels of stock at a key time in the market and also purchase outright the freehold on the Banbury site from non-family members. Significantly, there is flexibility for the funding to increase by a further £250,000 in January next year to help the firm invest for growth and manage cashflow further if market conditions remain positive.
Chris Maynard, director, Elite Motorhomes, said: “The business has seen record customer demand across 2015 and I’m confident this will continue into 2016. We are making plans to capitalise further on this, and the team at Santander has been able to deliver a flexible solution which has allowed us to make the necessary investments.”
