Continued expansion at Swindon-based star retailer Oak Furniture Land has helped it climb up a widely-respected league table of the country’s 100 fastest-growing private businesses.
The firm, which appeared in the annual Sunday Times Virgin Fast Track 100 league table at number at 51 last year, has performed even better this year and claimed the 37th slot.
Oak Furniture Land has now appeared in the prestigious list an almost unprecedented four times – making it one of the UK’s best-performing, recession-busting businesses. It has achieved an average 80% average sales growth over the past three years.
The firm was set up by entrepreneur Jason Bannister in 2004, initially to sell imported furniture on eBay. It expanded into a major online business selling through its own website before bucking the retail trend and opening its own stores. Today it has 53 showrooms across the UK.
Sales nearly doubled in 2013 to £145.5m, helped by new store openings and extensive TV advertising, while dealing directly with manufacturers enables it to keep prices low.
The firm employs 616 people across its store network and in its 300,000 sq ft head office and distribution centre at South Marston.
The Fast Track 100 ranks Britain’s private companies with the fastest-growing sales over three years. Appearing in the table for the first time is Warminster-based payroll services provider RACS, which boasts an average annual turnover for the past three years of 78%. The firm employs 71 staff and turns over £68m.
The Fast Track 100 will be published as an eight-page broadsheet supplement with the business section of The Sunday Times this weekend in print and in the digital edition,
The top-ranked South West company, going straight in at number 10, is Bristol-based energy supplier Ovo Energy, one of six new entrants from the region.
The Fast Track 100 league table and awards programme is sponsored by Virgin, Barclays, BDO and BGF and is compiled by Fast Track, the research and networking events company.
Sir Richard Branson of Virgin, the title sponsor for all 18 years, said: “This year’s Fast Track 100 is packed full of examples of entrepreneurs taking on many different challenges head-on.
“Their success is based on real team spirit and it is this togetherness, above and beyond any other factor, that sets great businesses apart from also-rans. The Fast Track 100 are testament to that spirit of creativity and camaraderie.”
