JTD Building Supplies has launched its new store, which is four times the size of its previous premises, with support of a £765,000 finance package from Lloyds Bank Commercial Banking.
The builders’ merchant opened the two-acre site, which features a newly built 11,000sqft shed and outdoor yard, to sell goods to trade customers, DIY enthusiasts and construction firms.
To support the expansion, the builders’ merchant has also hired five more staff and has plans to create two more jobs by the end of the year.
The business has invested a total of £1.4 million into the store on New Mill Road, Brockholes Holmfirth, with the hope that its main road location will drive more custom through passing trade.
JTD began building in September 2017 to enable the business to relocate from its previous leased unit at Meltham Mills Industrial Estate, which it had outgrown.
Since the business started trading in 2011, it has reportedly grown its turnover to more than £3 million per annum and hopes that the new store will help double its revenue in the next two years.
Tony Sharkey, Managing Director at JTD, said: “Having a larger site with an outside yard ultimately allows us to stock more products and better serve local traders involved in construction, DIY or building maintenance.
“The new store also represents a huge milestone in the fast growth of our business, and we’re confident it will give us the capacity to expand further, alongside Lloyds Bank’s support.”
Ben Cutts, Relationship Director at Lloyds Bank, added: “JTD is an impressive company that’s experienced remarkable growth since its inception only a few years ago.
“Building a new store while running an existing one can put a strain on a business’s cashflow. But support is on hand to help firms to invest in growth without impacting day to day finances. We’re supporting fast-growing firms like JTD Building Supplies as part of our helping Britain prosper plan.”