Partner Article

Coventry exhibition business celebrates record turnover

An exhibition stand design and manufacturing business in Coventry secured a record turnover in their last financial year after investing in new machinery.

Exhibit 3Sixty specialises in designing, building and installing exhibition stands which are manufactured in-house from its base in Torrington Avenue.

The business, like many in the events sector, was hit hard by the pandemic with its turnover falling from over £2.5 million in 2019 to just over £800,000 in 2020 but in 2022 its annual turnover reached £5 million.

Exhibit 3Sixty, which is jointly owned by Alan Craner and Andrew Pearce, diversified into providing bespoke design and build services for shopfitting displays and Covid screens.

They contacted the Coventry and Warwickshire Local Enterprise Partnership (CWLEP) Growth Hub to discuss whether there were any grants available to help them pivot and survive through the pandemic by investing in a new CNC machine.

Linda Savitri from the CWLEP Growth Hub introduced Alan to the Coventry and Warwickshire Investment Fund Programme, which is part funded by the European Regional Development Fund and is being delivered by Coventry City Council.

Throughout the application process, Exhibit 3Sixty was assisted by Business Development Adviser Denise Osborne at Coventry City Council and was successfully awarded an £18,000 grant towards the machine with the firm adding the remaining £18,000.

Denise also referred the business to the Coventry & Warwickshire Green Business Programme which undertook a free energy audit and provided a grant of just over £2,800 from the ERDF scheme towards buying LED lighting for its workshop to improve its energy efficiency, with Exhibit 3Sixty investing over £4,000.

Alan Craner, who has over 30 years’ experience in the industry, said installing the CNC machine had created two jobs – a project manager and logistics director – as well as being able to bring sub-contracted work in-house which was more efficient in terms of sustainability and time.

He said: “We wanted to expand our capabilities and improve our existing services with the purchase of a flatbed CNC router machine since it would enable us to cut and shape sheet material in ways, and at speeds, that are not possible manually.

“Receiving the grant meant we were able to buy the machine earlier than was in our business plan, and it has been a big step towards modernising our workshop, has greatly improved productivity, and has allowed us to offer a wider range of design services.

“There are also considerable savings on wastage by almost eliminating cutting errors and through more efficient use of materials, and there are considerably more creative opportunities than had previously been available to us.

“The CNC router has also eliminated our reliance on sub-contractors, so we are also reducing our overall carbon footprint by reducing waste to landfill which is helping us to achieve greater sustainability, and saving on transport costs.”

Linda Savitri, account manager at the CWLEP Growth Hub, said it was great that both grants were making such a significant difference to Exhibit 3Sixty.

She said: “Both of these investments have helped Exhibit 3Sixty with their Covid recovery because they have bounced back very strongly, with this year’s turnover exceeding their best year pre-pandemic which is fantastic. “As well as the practical and sustainable differences the grants are making it is also enabling Alan and Andrew the opportunity to concentrate on growing the business, since they have more time and the on-site machinery to tender for more work and win more contracts.”

The Business Support programme team at Coventry City Council is currently working again with Exhibit 3Sixty on a second project to help grow their business. Investment is being made to expand their IT provision to recruit their own graphic designer to reduce outsourcing as well as investment in a crew bus to reduce hiring multiple vehicles which will reduce fuel consumption and address sustainability impacts. This second project is likely to create another three jobs within the region.

Cllr Jim O’Boyle, Cabinet Member for Jobs, Regeneration and Climate Change at Coventry City Council, said: “Our business support services have always been important – but even more so to support companies emerge from a couple of difficult years in good shape.

“Exhibit 3Sixty now look set to create a number of new jobs which is good news for local people and indicates real promise for a successful future. On top of that our green business team has also helped them to improve their energy efficiency – so good news for the climate too.”

This was posted in Bdaily's Members' News section by Matt Joyce .