Two former car dealers who set-up a motor industry compliance company have already reached £1 million turnover and are expanding with the opening of a second office in Swansea.
With an annual turnover of over £1 million the motor industry entrepreneurs now intend to increase their staff from ten, with twenty new employees after moving into a new office in Fforestfach, Swansea.
Jon Rix, Director of The Compliance Guys alongside his business partner Nick McDonald both saw the benefits of introducing technology into the industry two years ago.
Having both worked in the automotive industry for 26 years, Jon said that new technology has allowed dealerships to easily switch from manual, paper-based, and people dependent compliance to an externally managed online process, reducing poor compliance and risk of fines or penalties.
Jon, 49, who is married with three children and lives in Loughor, Swansea, said they were elated by the rapid growth of the Compliance Guys.
“It’s great to be able to bring more jobs to Swansea and we’re excited about our new office which we opened to support the demand of our first office in Wolverhampton.
“I love Swansea and grew up near the Fforestfach area and I want to give something back, and what better way than to help the economy and the people of Swansea by giving them jobs.
“This year is all about growth and we’re looking to increase the new Swansea office staff to 25 by the end of the year.”
Jon said that in just three years, despite Covid, the cost of living crisis and huge fluctuations in car prices their turnover has soared.
“Since starting the company during lockdown our plan was always about helping the ‘ordinary folk’, mainly small to medium sized independent car dealers and people who were often overlooked in favour of the big corporations.
“Today we have over 600 ongoing compliance subscription customers and have also successfully supported over 900 authorisations. We’ve developed our own bespoke compliance sales system and just released an innovative, patented Test Drive App.”
The Compliance Guys Ltd are authorised and regulated by the Financial Conduct Authority (FCA) and help car dealers and car garages to complete FCA authorisation for business, provide ongoing compliance support and also facilitate introductions to lenders and brokers.