The sporting supplements company is based in Colchester, Essex, and has more than doubled 2013 revenue of 2013, while it almost tripled 2012 sales figures of 255 per cent.
Bulk Powders was founded in 2006 by Elliot Dawes and Adam Rossiter who met at Essex University. The firm, which employs 75 people, develops its products in Colchester and has just made a £700,000 investment to help achieve revenue of £20m in 2015, spending the sum on a new premises and equipment with a view to grow staff by a quarter.
The company has attributed growth to expansion across key European markets with new websites, which account for 35 per cent of sales compared to 25 per cent three years earlier. Bulk plans to lift further business from the continent by launching into other European markets and expects international regions could power half of all sales by 2016.
Dawes, said: “We are delighted with our latest set of financial results. We believe we have market leading products and this is demonstrated by the fact that we are growing at a faster rate than our market.
“We have big plans to continue to grow strongly, but in a sustainable way that ensures we remain true to our ethos of offering market leading products supported by strong customer service.”
Independent research from the firm found that the UK sports supplement and nutrition market is set to grow at a compound annual growth rate of nine per cent between 2013 and 2018, reaching a value of £471m in three years. Despite that, the founders were refused a bank loan when they set out to trade and had to secure a £3,000 loan from their parents.
Read more on the fitness sector:
- PayasUgym: The disruptive solution to keeping fit while travelling
- Gym chain Xercise4Less lifts £31m in equity and debt funding
Rossiter, added: “We have grown substantially since our launch, and we are confident that we have the building blocks in place to continue in this vein. We have state of the art new premises, we are looking to grow our workforce by over one third, and we are ready to expand further into Europe. Supported by a growing market, these are exciting times for us.”
Bulk’s efforts were recognised at the Men’s Health Awards in 2014 and the firm is currently the sponsor of UK boxer James Degale.