A Cheshire-headquartered used motorbike retailer, which is backed by Endless’ Enact Fund, is targeting 8 per cent year-on-year growth, with plans to invest in its significant stock range.
Superbike Factory is the largest retailer of used motorcycles in Europe, with about 3,400 bikes on sale.
The business acquires the vehicles, inspects them thoroughly and then sells them online, and through its retail outlets in Macclesfield, Bradford, Bristol, Milton Keynes and Donington.
In Cheshire specifically, the retailer operates from a 100,000 sq ft space.
Newly filed accounts have shown that in the year ended 31 December 2023 the business turned over £82.2m.
The figure was slightly down from the prior year, but chief executive Edward Armitage explained that it reflected a reduction in the trade aspect from a previously acquired business.
He said: “We weren’t interested in the trade aspect” adding that, while it shrunk, the business was “more than compensated by the retail element”.
Endless invested in the company in December 2023 and the report noted that it provided a working capital facility to “support the company’s growth”.
Armitage added: “Looking ahead to the next few months, we’d like to open up another site somewhere in the country. We’d also like to continue investing in our apprenticeship academy and then really invest in our stock range”.
He noted that he is “very proud” of the academy which is about to take on its third 15-strong cohort.
In terms of site locations, Armitage wants somewhere that can “give a good atmosphere and retail experience” to the customers.
Its Donington site, for example, is in the old Formula 1 museum and is “steeped in motorcycle history”.
Paul Coulter, marketing manager, continued: “Although the consumer’s journey starts online, a lot of customers still come in to collect the bikes and ride away”.
He added: “As we continue to grow to 3,500 items, then 4,000, and so on, we need places to store them.
“We’ve got the spine of England covered from Yorkshire to Bristol, so it’s about really expanding out of that spine.”
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