Funding helps Reynolds steer in the right direction

Funding helps Reynolds steer in the right direction

A family run car dealership in Selby has received a £80,000 loan from the Business Enterprise Fund (BEF), allowing it to provide new stock and completely re-design and develop its website.

Established in 1996, Reynolds of Selby has mapped out a new strategy to step its sales up a gear.

Managing director since June 2016, Richard Reynolds said: "I grew up working in this business, I’ve worked in every position, and know it inside out.  After buying the company when my father retired, it was my turn to make some changes to progress and modernise the dealership. It’s such a competitive sector, we needed some improvements to set the garage apart.

"The majority of funding from BEF has gone into increasing our sales stock, and this has already had a positive impact on car sales. We have seen a 40% increase on the same period in 2015. To extend our services and meet demand, we’ll be recruiting for three new positions in the next six months."

The company’s business hours have also extended to Sundays and a new lease car scheme has been introduced offering a face to face assurance that other providers do not.   

Richard said: "Celebrating 20 years in business, our showroom has also been revamped offering a modern, comfortable and upmarket feel. We want to be the best garage people have ever come to so we’ve considered every little detail. From the seating areas to the coffee machine, we’ve made major improvements - you won’t find any instant around here!" 

 BEF investment manager John Hall, who assisted Richard in securing the loan, said: "Reynolds of Selby really is a great example of a successful family run business and we’re thrilled to have been part of its recent developments. The introduction of Sunday opening hours is already having a positive impact on car sales, which now averages out at 20 per month.

"With Richard now taking full control and with his extensive sector experience, we are looking forward to watching the business continue to grow."