A lockdown side hustle based in a village near Newtown that has a customer base which includes Olympic gold medallists, Formula One drivers and celebrity cyclists is celebrating making a whopping £2million in sales.
Elliot Tanner launched Stashed Products in 2021, after spotting a gap in the market for his bike storage solutions system. But what started as a lockdown project now sees products manufactured in Abermule skyrocket in popularity and shipped globally.
Stashed Product systems is an unusual bike storage solution which 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 8 million views on Facebook and YouTube.
Three years since starting the new venture, Elliott is celebrating a significant milestone after bringing in £2 million in sales.
Elliot, who had previously owned a research and design consultancy, began exporting online using Shopify.
He sought help with expanding, and after working with Business Wales now achieves 80 per cent of annual sales to overseas customers. In the past two months alone, the manufacturer has exported to 35 countries across the globe.
Elliot explained: “This time last year Stashed Products was my side hustle.
"In one year alone I’ve become a full-time 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.”
Elliot first approached Business Wales in 2021 and worked with relationship manager Steve Maggs, to build business plans, register as a certified company, implement HR policies, find a premises, and employ specialist staff.
Elliot accessed International Trade advice to apply to his first mission event in California, which unlocked more growth for the business.
Elliot was also introduced to an Innovation Specialist at the Welsh Government, who helped him secure the SMART Flexible Innovation Support research and development grant alongside tailored advice from industry experts, that enabled him to receive price-matched funding for new product R&D.
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Elliot continued: “Without assistance from Steve, alongside Welsh Government Innovation and Business Wales International Trade support, I’d still be at home, huddled in the spare room making and mailing out these products.
"I don’t come from a business background so I, like many other entrepreneurs, wasn’t aware of the support on offer. Steve has really helped me build sturdy foundations for my business on a global scale.”
Stashed Products plans to set up distribution branches in Europe and the US, which will make exporting simpler, and is finalising three new products to be unveiled later this year.
Steve Maggs 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 advisor all the more worth it."
Business Wales is funded by Welsh Government. Visit www.businesswales.gov.wales/ or call 03000 6 03000.
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