Kenilworth Carpets, based in Warwickshire, provides carpets to customers throughout the UK as well as at star-studded events around the world.
The business, which was launched in 2010, has both a domestic division providing and fitting carpets as well as an events division supplying flooring for parties, conferences and exhibitions. Their carpets have also graced the floors of a variety of film premieres in London, including Jungle Book, Star Wars and Suicide Squad; recognising Kenilworth Carpets as a leading supplier to the event industry.
Having been assessed and endorsed by Which?, the company has Trusted Trader status and can offer customers a unique price promise. Both appeal hugely to customers and help differentiate Kenilworth Carpets from large chain competitors and other independents.
Business has been strong since launch, with turnover trebling in just over four years. And as carpets make their way back into fashion after years of laminate and wooden floors, Kenilworth Carpets are only growing stronger – especially in Warwickshire where the property market is particularly buoyant.
To build on their success, the team at Kenilworth Carpets wanted to maximise their buying power for greater profitability and to still be able to offer their price promise. This would involve moving from buying carpet by cut lengths to buying by the roll, requiring greater initial investment and preparing their premises to hold roll stock.
The company needed funding that would suit their retail sales model, with enough flexibility to allow for the peaks and troughs in the business. A bank overdraft or credit cards didn’t appeal and Kenilworth Carpets found the banks weren’t “falling over themselves” to help out.
Since March 2015, they’ve had five Liberis Business Cash Advances totalling £78,000.
The director of the business, Keith Swain, says: “We did a great deal of research into the type of funding that would work best for us. Whilst business cash advance is a relatively new type of product, we felt there was nothing to lose and gave it a go. We’re very glad we did.
“It made the move to roll stock possible, which is much more cost effective for us. We can offer a better product at a more competitive price, plus we can respond more quickly to orders because we have the stock in. It has also made us a more attractive proposition to suppliers who prefer dealing with carpet companies that buy by the roll. And pay back is effortless too through our retail sales.
“The Liberis funding has been a great enabler, allowing us to fast forward our growth. Without it, we’d be a year behind where we are now. It works perfectly for us.
“There’s more business growth to come and Liberis will continue to play a role in that. We see Liberis’ Business Cash Advance as a part of the solution to get to where we want to be.”