| Established in 2006
Genpower is a retail and wholesale distributor for Hyundai Power Products, JCB Tools, P1 and Evopower power equipment including generators, pressure washers, power tools, air compressors, garden machinery, light construction equipment and more. Over 80% of its sales are direct to consumer via ecommerce and marketplaces, with 20% of its business being wholesale to major retailers and dealerships.
98% GROWTH BETWEEN 2019 AND 2021
The main driver for starting Genpower was the increasing strain being put on energy and the national grid, meaning a good quality, well priced generator would inevitably be required in the UK marketplace. Over the years, the demand for generators has continued to grow and this is never more apparent than the current energy crisis highlighted in the media. However, in order to diversify the business many product categories have been developed and launched over the years, adding to the firm’s growth and making the business less seasonal.
The main factors that have contributed to the rapid growth of the business are having strong brands such as Hyundai and JCB as well as buying direct from the manufacturer and selling direct to consumer, resulting in higher profit margins and more control over the route to market. Also, Genpower is a family run business with most business functions kept in-house from product development, marketing through to warranty and aftersales. This means it can react quickly to market changes or deploy changes in direction quickly.
After recently securing the worldwide distribution for JCB Tools and Power Products, Genpower will be rapidly scaling its business overseas. To date, the business has grown within the UK and Irish markets in line with its agreement with Hyundai. The new, worldwide licence for JCB allows Genpower to grow the business overseas by setting up distributors of JCB Tools globally. It will also continue to expand its Hyundai Power Products range and adding more brands to its armoury to continue the growth and passion to become the number one home power equipment supplier in the UK. Genpower has also added to its operational output by adding a brand new distribution centre in Newport, Gwent to accompany its existing HQ in Pembrokeshire. This gives the firm over 20,000 combined pallet spaces to grow stock levels and subsequent sales. It has also opened a new refurbishment and resale centre in Warrington to maximise sustainability by refurbishing its under 30 day online returns and used machines, and established an overseas customer service team in Mauritius.