Turnover increased by £4m
A Suffolk consultancy that fits out superyachts with anything from mini-submarines and bullet-proof boats to wetsuits and watersports equipment has doubled its turnover after turning to EEN for advice on growing the business.
Superyacht Tenders & Toys, founded in 2011 by directors Josh and Claire Richardson, needed to identify the most profitable markets and customers – and then free up the time to pursue them.
After a full year’s programme of advice and support from EEN in the East of England, annual turnover rose to £3.7 million by last October and is currently up a further 50% year-on-year.
The Middle East became an important growth market after a strategic review with EEN of the mix and value of clients. There was also a shift in focus towards partnering with new-build shipyards in Europe to gain larger orders rather than one off items to existing yachts already floating. Two thirds of yachts built in Germany in 2016 were fitted out by the company.
Josh and Claire now employ seven staff and have a large number of new-build yachts they are working with, as well as 13 yacht tenders in build for clients as far afield as the US, Saudi Arabia and New Zealand.
Superyacht Tenders & Toys acts as an independent consultancy, designing around the latest trends and sourcing equipment for customers from a myriad of suppliers worldwide. The bespoke service involves handing all aspects of purchase, support and ownership of the products.
Owners of the 6,000 or more 50-metre-plus superyachts around the world want the latest, custom-made accessories and gadgets. They include jet packs, water slides and amphibious craft, right up to the £4 million ‘toy’ that one client is currently waiting for – a mini-submarine.
As well as helping to identify recruitment priorities, EEN suggested that a more effective web presence would improve competitiveness. A new on-line catalogue has since helped to widen product lines while increasing sales and repeat orders for leisure items.
We’ve had really useful advice and support from EEN – very valuable. It was all about sitting down and figuring out where we wanted to go and how we get there.
Josh Richardson, founder