A West Midlands-based photobooth provider is set to double its workforce this year after receiving a £600,000 term loan from HSBC to assist in the purchase of new commercial premises.
Photobooths.co.uk is the UK's leading manufacturer and supplier of portable photobooth systems to corporate clients, marketing agencies and the general public.
The company, set up in 2006 and headquartered in Halesowen, has completed the purchase of a 25,000 sq ft premises after rapid expansion saw the company’s turnover almost double last year.
The new site, which is five times bigger than the previous one, will allow Photobooths.co.uk to significantly increase its business capacity, allowing for further expansion into new, innovative product markets, such as Magic Mirrors and ‘smart’ dancefloors. The increased capacity also enables Photobooths.co.uk to realise its strategy to increase its foothold in international markets. The firm currently exports 35 per cent of its photo booths and dance floors to countries and regions including Australia, the Middle East, and Europe.
Alongside a premises expansion, the HSBC finance has enabled Photobooths.co.uk to hire a further 20 employees, a 50 per cent increase over the past year.
Tim Warrington, CEO & Managing Director of Photobooths.co.uk, said: “We are incredibly proud of our company and the growth we have achieved since we started in 2006. HSBC’s support has enabled us to continue to grow and help us enter new and exciting markets, using the latest innovative technology such as 3D printing. We are dedicated to providing our customers with the best service possible, and with our continued growth, we believe we can achieve great things in the future.”
Mark Lupton, HSBC Area Director for Business Banking in Greater Birmingham, said: “This financial support provides Photobooths.co.uk with the stability and confidence to realise its plans for international growth and expansion into new markets. The business has a strong vision for its future and is a great example of the kind of ambitious UK business we are able to connect with international opportunities.”
Photobooths.co.uk also manufactures bespoke photo booths for corporate events and parties, with clients including Coca Cola, ITV, Xbox One and BBC.
The funding was arranged by Martyn Drayton, International Relationship Manager at HSBC in Greater Birmingham, who is pictured here (left) with Tim Warrington.