Rapidly growing vehicle broker Vanaways has unveiled plans to double its turnover to £200m within the next two years, following a period of significant expansion. The Bristol-based company saw its turnover rise from £15m in 2020 to £109m in 2023 and is now focusing on technology, artificial intelligence, and strategic recruitment to sustain growth.
Founders Adam Carter and Chris Jakeways are aiming to establish Vanaways as the UK’s leading vehicle broking brand.
“We’re aiming for £200m turnover and vehicle sales in excess of 10,000 units within the next 24 months,” said Carter. “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.”
Vanaways operates with no debt and prioritises organic growth. The company, which currently employs 70 staff across the UK and at its head office in Ham Green, Bristol, has taken a strategic approach to recruitment.
“In 2023 we went back to the drawing board with hiring,” Carter explained. “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.”
Technology is also central to Vanaways’ expansion plans, with AI being integrated into its sales process and customer relationship management.
“We’re investing in technology to optimise the customer experience,” Carter said. “Our phone system is already artificial intelligence-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 our staff are able to respond to their demands quicker than ever.
“What’s crucial to us is that we retain our company values – quality, personal service, trust and honesty. Without those we lose what’s made Vanaways such a success over recent years.”
