Draft:Marks Electrical

Marks Electrical is a family-run retailer of electric appliances and white goods in the United Kingdom that has been in business for over 36 years. The company was founded by Mark Smithson on February 2nd, 1987.

The company supplies a range of electric appliances and consumer electronics, sold through their e-commerce website, as well as physical showroom based in Leicester.

1987 - 2000

 * Founded by Mark Smithson in 1987 reselling used products in rented premises
 * Grew locally and purchased a further four wholly-owned stores to make a large superstore.
 * Positioned as a high-end MDA market leader in the Midlands

2001 - 2005

 * Established as an online business
 * First website launched in 2001
 * Bought its first two warehouses

2006 - 2010

 * First e-commerce website launched in 2008
 * Reached sales of circa 80% online despite a challenging trading environment caused by the global recession

2011 - 2016

 * Added two new warehouses for £3.6m with circa 60,000 sq. ft capacity

2017 - 2020

 * Bought current warehouse for £5.4m with 200,000 sq. ft capacity

2021

 * First TV ad launched
 * Additional £7m invested in stock
 * 78% revenue growth with controlled overheads and EBITDA margin more than 13%
 * IPO on the London Stock Exchange

2022

 * Continued revenue growth at 44%
 * Operating leverage achieved over fixed cost based
 * 9.0% EBITDA margin
 * Launched a rebrand for their fleet

2023 - 2024

 * Revenue growth of 21.5% in 2023
 * Expected 2024 year on year revenue growth of 18%

Operations
The company flagship site spans over 12,000 sq ft including warehouses and a showroom on Boston Road in Leicester.

Awards

 * 2013 - Domestic & General | Independent Electrical Retailer of the Year - Runner Up
 * 2014 - Domestic & General | Internet Retailer of the Year
 * 2015 - ERT | Independent Electrical Retailer of the Year - Finalist
 * 2015 - ERT | Independent Electrical Retailer of the Year
 * 2016 - ERT | Consumer Electronics Showroom - Finalist
 * 2016 - ERT | Independent Retailer Website - Finalist
 * 2016 - IER | Best Website - Highly Commended
 * 2017 - ERT | Digital Marketing of the Year
 * 2017 - ERT | Independent Electrical Retailer of the Year
 * 2018 - IER | Best Customer Service - Highly Commended
 * 2018 - IER | Best Website of the Year
 * 2018 - Leicester Mercury | Retail Business of the Year - Finalist
 * 2019 - IER | Best Customer Service of the Year
 * 2020 - ERT | Best Independent Domestic Appliances Retailer
 * 2020 - FEEFO | 6 Years Gold Service
 * 2020 - IER | Best Independent Retailer Website of the Year
 * 2021 - IER | Best Customer Service - Highly Commended
 * 2021 - IER | Best Independent Retailer Website
 * 2022 - IER | Best Large Independent Electrical Retailer - Domestic Appliances