Hull-headquartered independent builders' merchant MKM is showing no signs of slowing down after a milestone 2022 saw it open its 100th branch.
Fast forward five months and five more have been added, with the team now looking at locations for outlets that could welcome first customers in 2025.
Having started in 1995 in East Yorkshire, the network now stretches from Redruth in Cornwall to Inverness in the Scottish Highlands. This year has already been touted as another significant one, while Neil Riseham, head of property at the firm, looks well beyond undeterred by the economic downturn.
Read more: Big interview with MKM co-founder David Kilburn
He said: “While the merchant sector as a whole is currently sounding a note of caution in terms of growth plans, at MKM we are continuing into the new year with renewed confidence in both the market and our plans for expansion – not just for this year, but across 2024 and beyond.
“Typically, it can take anything up to two years from us identifying a suitable site for a potential branch, to it finally opening its doors for customers, so we are currently on the hunt for new locations for branches that will be going live in 2025. And despite the recent economic insecurities the UK has faced, we know that investing in our branch network has never been more important – and we don’t plan to stop now.”
Launched by pals David Kilburn and Peter Murray, it has gone from a team of five to upwards of 2,500, with a turnover of £658 million. An initial buy-out in 2006 by 3i Group and LDC, part of Lloyds Banking Group, was followed by a second, in Bain Capital, in early 2017.
A unique model sees branch directors hold a significant stake in the business they run. And Mr Riseham has outlined what qualities a site requires, well before a team is appointed.
“When it comes to identifying a potential new branch location for MKM, there are several things we look out for,” he said. “First and foremost, we want great profile and ideally, close to a main road or motorway,” a strategy that sits well with its stadium sponsorship in its home city. “We want to make dealing with MKM as easy as possible for our customers, so making us easy to find and access is a big part of that.
“As most of our branches can be found on existing trading or industrial parks, we also keep a close eye on the other businesses that are already operating there. MKM is an established and well-known supplier to the trade, but our offering extends to homeowners and amateur DIY-ers too, so it’s important our branches appeal to our varied consumer-base. If there are already a host of household names trading on the doorstep of a new branch, it makes it easier to get homeowners through the doors and into our state-of-the-art kitchen and bathroom showrooms when we open.”
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