Alan Williams, Managing Director at The Sleep Haven, reflects on the last year, company investments and future expansion plans.
After a steady start in 2024, independent beds and mattresses retailer The Sleep Haven has delivered growth throughout the past year, all while implementing the key foundations to take it to the next level. “The year has been a tale of two halves,” says Alan.
“The first six months was spent bedding in systems, processes, creating our own white label range, and creating a culture that will stand up against the challenges of a tough trading and economic climate.
“In the second half we have seen some good growth. Sales have improved month-on-month and we are now meeting our sales forecasts.”
Key to this growth has been its investment in its online presence and software system, alongside its physical store and product offering. “After a slow start we are now seeing the sales growth we expected,” Alan said. “It has taken us longer than anticipated to get established and we have taken the time and effort to ensure our customers have experienced a best-in-class service.
“There is a noticeable difference between large multiple bed retailing and operating as an independent bed retailer. Trading patterns differ, with peak trading periods and Bank Holidays producing large spikes in trade for the multiples, where the independent markets don’t see the same spike although the sales periods remain stronger for longer.
“I have learned so much more about the sector, our customers and our supply chain, the whole experience has reenergised the whole team and created a togetherness and passion for what we are creating.
“Our website and retail system have been our biggest investments outside of our stores. Our website, by WebSystem, is now transactional. Our retail system, by leading software provider RetailSystem, is built specifically for the furniture sector and can scale alongside any business growth.
“We have also invested a lot of time, money and effort working with our supply chain ensuring the product range is fit for purpose. Given 80% of our range is own brand, we stand by our values, quality, and service proposition.”
As Alan says, the team has learned a lot during this period, which includes customer insights and movements. “There is a clear lack of urgency in the marketplace, it’s a buyer’s market and consumers are happy to take time and shop around,” he continued. “Customers are not just looking for the best price, they want quality, value, and choice, and they want this backed up and supported with good service.
“Our ATV’s (average transaction value) have been consistent throughout the year, and our customers are prepared to pay for a better night’s sleep.”
As with any business, challenges often present themselves, especially for new brands looking to solidify its presence. Alan said: “We face challenges every day and overcoming these are just part of our role. The biggest challenge we have had is establishing our brand, no matter what you do this takes time, patience, and a lot of effort.
“Our customer reviews have helped enormously with this; we regularly get new business through recommendations and people visiting us because they have looked at our reviews.”
With the new year now upon us, The Sleep Haven has ambitious plans for scale now all of its foundations are running seamlessly. Alan hinted at potential expansion plans, while also paying tribute to its suppliers for all the support received on its journey so far.
“We have built the foundations and stabilised the business so we can now look to grow. All our systems and process have been rigorously tested and we are confident we can now introduce scale into the business.
“We are looking for standalone and concession store opportunities on retail parks or out of town units, with stores ranging from 3000 to 7500sqft. Ideally, we are looking for locations in Yorkshire and the Northwest although we will assess all locations based on opportunity and profitability.
“I would like to make a special reference to our suppliers and thank them for their commitment and support. We made a conscious decision when we started the business to work closely with a handful of suppliers we could work with and trust, and over the last 12 months we have forged an excellent relationship with them.
“During this time, we have built a credible range of branded and own brand products, across all segments of our targeted market and we are delighted with the results. We look forward to an exciting 2025 for us.”
About The Sleep Haven
The Sleep Haven is a newcomer to the bed retail market, and although only established in June 2023 it has a wealth of knowledge and expertise. Two former retail colleagues, Alan Williams and John Whitehead formed the business. Both who have a proven record in the bedding and retail sector, and both have worked for one of the biggest national bed retailers in the UK. The Sleep Haven currently has two stores, one at Junction 32 The Yorkshire Outlet Village in Castleford, and the other on the Riverside Retail Park in Warrington.
