Boiler Plan

Bio

Boiler Plan sells and installs boilers and boiler servicing plans via its website www.boilerplanuk.com. Through its in-house sales team and network of approved installers, it is responsible for the entire boiler sales process, handling everything from initial enquiry, through to consumer finance, survey, supply of boiler, installation and annual maintenance.

Deal size

£2,150,000

Region

Northumberland

Funding need

Sales and marketing and job creation

Sector

Technology

Myself and my management team at Boiler Plan are delighted to have gained this investment from one of the most progressive fund managers in the UK.  I would like to thank Alex Marsh and the rest of the team at Maven for their hard work and first class advice during this process.

Ian Henderson
Managing Director of Boiler Plan

Growth Journey

Founded in July 2014 by Ian Henderson, Boiler Plan was one of the first to provide a digital offering in this market, with the Boiler Plan online platform going live in September 2016, and it remains one of very few providers to offer a full end-to-end digital solution. The business has gained significant traction in a short space of time despite a modest level of funding.

The UK domestic heating market is worth £3 billion annually and is growing at 2% per annum. Boiler Plan brings a market disruptive and customer focused service to a mature sector, which until recently had seen little advancements in technology and service. It is one of the first providers to offer a full end-to-end digital solution and the Boiler Plan platform currently services circa 45% of the UK market geographically.

There are thought to be 15 million boilers in the UK being replaced over a 12-15 year lifecycle, with 1 million replacement boilers being installed into private properties annually and it is this market Boiler Plan is targeting.  

The NEDCF investment will be utilised to accelerate growth by: investing more heavily in sales and marketing activities to drive a higher volume of relevant traffic to the website; invest in the support team, systems and service to improve sales funnel conversion rates.

Boiler Plan will also use the funding to roll out its operations into new territories, including the South West, Wales, London, the South East, and Scotland. By 2020, Boiler Plan will cover 90% of the UK, with over 27 million households able to access its services.

Could the North East Development Capital Fund help support your growth journey?

If you’re running a North East business that’s looking to grow, we’d love to hear from you. Feel free to give us a call to find out more about our flexible funding solutions:

0191 731 8590

 

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