Christy Foster likes being underestimated.
Online4baby鈥檚 origins date back to 1987. Foster founded the business with her sister Cheryl and has grown it into a 拢44m turnover business with a 拢4m EBITDA 鈥� all with 36 staff.
She doesn鈥檛 do vouchers, discounts or debt and after making the decision to take her manufacturing in-house, nearly 40 per cent of the business is now own brand.
Foster, who took part in a recent 鈥�What is the key to sustainable growth鈥�聽roundtable with MHA Moore and Smalley, takes straight-talking to a whole new level.
A lot of her approach to business was forged by her childhood.
Along with her sister Cheryl, she was raised in Oldham by a single mother and quickly showed her entrepreneurial talent.
By the age of 12, she was working on a market stall before and after school each day to earn extra money.
鈥淚 used to walk to school to save money on my bus fare,鈥� she recalled.
She also excelled in sport at school but her聽ADHD, dyslexia and autism impacted on her academically.
鈥淚 couldn鈥檛 read at school and didn鈥檛 get one qualification,鈥� she said.
Five聽of her聽聽family went to Oxbridge聽but聽Foster applied her ‘crazy brain鈥� and her formidable buying skills to the world of business.
As eBay took off Online4baby, which is based in Chadderton, Oldham, focused on聽online sales and became one of the largest eBay baby stores in Europe.
“We sell baby products from prams to cots,鈥澛爏he said. “Basically anything to do with children.鈥�
Today Online4baby has grown into one of the leading UK eCommerce baby products businesses and is on track to become a 拢100m-turnover concern over the next three years.
“All our stuff is sold online,鈥澛爏he said. “We don鈥檛 work with any affiliates or third party websites.聽We don鈥檛 do vouchers. We don鈥檛 do discounts. I work differently to everybody else. I try and sell bigger with more value. I call myself 鈥榯he Bundle Queen鈥�.鈥�
The average customer order value is 拢156 and聽Foster knows her numbers.
鈥淚 look at everything from a logical data point of view,鈥澛爏he said. “I used to go off my gut instinct when making decisions but now I look at the numbers. I can see problems in my business just by looking at my numbers.鈥�
Last聽September she undertook a review of all their overheads and saved 拢1.5m from their cost base.
鈥淲e started by looking at the biggest spend to the lowest spend,鈥澛爏he said. “If I can鈥檛 afford it, I don鈥檛 buy it. I don鈥檛 believe in cheap credit. I鈥檓 very sensible.
鈥淎ll my relationships are based on trust. My word is my bond.鈥�
She鈥檚 rebuffed countless approaches to buy聽Online4baby.
鈥淎t the moment I鈥檓 not ready,鈥� she said. 鈥淚 think there鈥檚 a bigger number out there. I鈥檓 setting it up for a big sale value and I know what I need to do.鈥�
Foster has led a digital transformation of the business, including a strapline 鈥楶ower to Parents鈥� and a new-look website.
The company has a big focus on customer service, evidenced by its聽4.6*聽rating聽on TrustPilot with over 30,000 reviews and the promise to 聽customers to speak to a聽聽鈥榬eal person鈥� every day between 10am-5pm.
Foster is also聽proud to be a female leader and has 50 per cent female representation on her board.
“I see it as my role to inspire other women to be strong and nurture their own talents,鈥澛爏he said.
- Christy Foster was joined on the roundtable by Howard Jackson and Phil Denton, of EvaluateEd; Craig Smith, of EcoRenew; Chris Swallow, of Creamline; Stephen Solademi, of SOS Creative; Mark Blackhurst, of Digital Next; Naomi Timperley, of Tech North Advocates; Paul Corcoran, of Agent; Janine Smith, of 老九品茶 Growth Hub; Akhtar Zahid, of Budget Greeting Cards, Andy Feeke, partner and corporate finance at MHA Moore and Smalley; and Sean Mitchell, partner, MHA Moore and Smalley