A Swansea-based motorcycleparts and accessories company will expand its franchise offering and create 20 new jobs in South Wales after securing seven-figure bank funding.
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M&P Motorcycles will use a £1.5 million funding package from NatWest to expand its current franchise operations in Gorseinon to incorporate additional retail space for a BMW dealership, a separate Honda dealership and used bike superstore as well as open a dedicated Harley Davidson dealership in Cardiff along with M&P parts and accessories and clothing.
Plans to expand M&P’s existing premises are already underway and once complete will create an additional 20,000 sq. ft of space. The Cardiff-based site will launch in January 2019. The recently acquired 15,000 sq. ft space on Hadfield Road will be fully refurbished to include a show room, retail space and an area for mechanical repairs and alterations.
M&P’s expansion plans represent a total investment of £2 million and will create up to additional 20 jobs, taking the firm’s staff base to 100. Its £14.3 million turnover will also increase by 15%.
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Founded in 1978 as a mail order company for motorcycle enthusiasts, M&P Motorcycles has adapted its business model over the years. It is now one of the country’s leading motorcycle parts and accessories companies, providing franchise locations for dealerships such as Harley Davidson, Kawasaki, KTM, Husqvarna, Can-Am, MV Agusta, Honda and BMW.
Managing Director Mark Collings said:
“Agility has been key to the success of our business and regular investment in new franchise opportunities and expanding the services we offer to customers and dealerships has enabled us to increase turnover and staff numbers. We’ve been banking with NatWest for several years and the support provided has been second to none.
“Our recent bank funding has enabled us to drive forward our expansion plans and help us to open our first site in Cardiff. The Cardiff site will allow us to grow our business model and serve a greater number of South Wales’ motorcycle enthusiasts.”
Natasha Hopkins, Relationship Manager, NatWest, said:
“M&P Motorcycles is a perfect example of a firm that is willing to invest and to diversify to ensure the longevity of the business. The funding we have provided will enable Mark and the team to expand its customer base, develop new franchise opportunities and support new job creation in the local area.”
