Virtual manufacturer, Premium Appliance Brands has been in profit since day one. The company is a “posh dating agency” for kitchen appliances distributors, designing products and scouting out factories around the world to manufacture branded appliances at cost-effective prices.
Guy Weaver and Peter Brazier founded the Cheshire-based firm in September 2002, and the market is now worth a cool £4bn. Weaver explains: “The company designs products such as cooking appliances, dishwashers, refrigerators, washing machines and coffee makers but has them made in the best place, whether that’s the Far East, Eastern Europe or Western Europe.”
There’s a deep knowledge of the marketplace within the company and employees travel extensively, visiting trade shows and overseas factories. The most recent financials show sales of £20.6m, growing 89 per cent over the past four years.
Weaver has aggressive growth plans but believes times are going to get tougher. For example, rising oil prices mean shipping, particularly from the Far East, is more expensive. The company employs 45 people and Weaver says the company pays a lot of attention to keeping the team motivated and informed.