Wheels of fortune for storage firm
ABIKE storage systems manufacturer is celebrating reaching £2m in sales. Elliot Tanner launched Stashed Products in 2021, after spotting a gap in the market for his bike storage solutions system.
After starting as a lockdown side project, it now sees products manufactured in the small village of Abermule, Powys, being shipped globally.
Stashed Product systems allow customers to hang, spin, slide and store their bikes in an accessible, secure, and space-effective way.
This innovative bike storage solution skyrocketed in popularity in August 2022, after a video of the founder showcasing his product went viral on social media, gaining over 100,000 likes and eight million views on Facebook and Youtube.
Mr Tanner, who had previously owned a research and design (R&D) consultancy company, initially began exporting via online e-commerce platform Shopify. After some initial export sales, he sought advice on growing into new markets.
With support from the Welsh Government’s Business Wales offer, 80% of Stashed Products’ annual sales are exports. In the past two months alone, the manufacturer has exported to 35 countries across the globe.
Mr Tanner said: “This time last year
Stashed Products was my side hustle. In one year alone I’ve become a fulltime business owner, brought on eight brilliant team members including a sales manager, an engineering and operations manager, marketing and social media specialists, and four new operations team members. We also moved into a brand-new unit in Powys in November 2023.
“Without the support of Business Wales, none of this would have happened. I’d probably still be working out of my spare room.”
Stashed Products plan to set up distribution branches in Europe and the US, which will make exporting much simpler.
The team are also currently finalising three new products, which will be unveiled later this year.
Steve Maggs, of Business Wales, said: “Seeing Elliot turn Stashed Products from a side hustle into an international, seven-figure business in the short time we have worked together has been brilliant. It’s what makes my job as an adviser all the more worth it.
“Stashed Products skyrocketed in popularity and left Elliot playing catch-up with business strategies and HR policies. I provided advice and guidance in helping Elliot achieve his business success in a simple and manageable way.”