CEO of Bybox
In 2011 Bybox won the Best Use of Technology at the Motor Transport Awards, the Coventry Telegraph Business award for Business Innovation through Technology and was ranked 35 in the HSBC Sunday Times International Track 100. So who is this company? What has made them so successful? And how did they get here?
Well in terms of the business’ journey to success Stuart Miller was obviously bitten by the Millennium Inspiration Bug when he founded Bybox in 2000 through the acquisition of Logibag SAS. A year later he merged with Dynamid and Dan Turner became his business partner. The two men decided to try and solve the problem of retail distribution nationwide as the estimated growth of internet shopping was set to be vast, or in more simple terms, their mission statement is ‘to solve the problem of having to wait in for parcels’. The next two years were spent developing and establishing a leading and dominant ‘electronic dropbox network’. In 2003 Bybox agreed to a 5 year deal with Hayes to provide 335 banks of electronic boxes, however Hayes as a company disbanded only 12 weeks later. Faced with this potentially huge dilemma, Bybox decided to snap up the Field Service division of Hays PLC. Hayes had a vast network of 10,000 mechanical lockers in 500 locations however, Bybox had no distribution system so within a week they decided to open their own across the UK.
As well as headquarters in Wantage, ByBox has distribution centres in the London, Milton Keynes, Bristol, Haydock, Coventry, Doncaster, Newcastle, Glasgow and Thetford. The Coventry distribution centre is over 100,000 sq ft and is the national hub for freight sortation and warehousing. By 2007 the network had grown so much that they expanded into Europe opening a French national hub in Wissous. They now operate 54,000 electronic lockers in more than 20 countries worldwide.
In 2009they introduced myByBox which means you can now receive deliveries electronically if you cannot be at home.
All of this growth is illustrated in the increase in annual turnover from £119,235 in 2002 to £75m in 2014. This is partly through organic growth and partly through acquiring three companies in the last three years.
So, who is this company? They are, in short, a worldwide distributor who pushes the technological boundaries of their business field. What has made them so successful? It seems a lot of nouce, understanding of their industry and capitalizing on the right things at the right time. And how did they get here? Well in short, they got here through sheer hard work and ambition.
Outside of ByBox Stuart is also involved in:
· Entrepreneur in Residence at the Glendonbrook Centre for Entrepreneurship and Enterprise
· Visiting Professor at Loughborough University School of Business and Economics
· Chairman of Vale4Business
· On the board of Oxfordshire Business First
· Author of “The Seven Conundrums of an Entrepreneur”
· On the board of the government’s Business Growth Charter, which is Lord Young’s initiative to mobilise UK business schools to support entrepreneurs.