It did mean, however, there was no fallback pot during Covid: “In April 2020 we were faced with a month of zero turnover and losses in excess of £70,000 for staff costs and office lease.”
They used the furlough scheme and cut staff back to eight. “Two large contracts carried us through — an empty home bought by a Lottery winner, and another huge job for a politician living in Mayfair who wanted to upgrade their existing home while not there.” Sparrevohn won’t say who, but recalls, “supply chains were decimated and we were faced with exponential increases in equipment prices and long lead times”.
After September 2020, though, “we saw a huge spike in demand. People were moving, and needed to be able to work and study from home; sub-standard wi-fi was no longer an option. We saw more demand for outdoor audio and even [outdoor] TV — and problems which people may have put up with previously in terms of their home technology were no longer acceptable.”
Turnover soared 84% in the 2021-22 financial year, and Sparrevohn has since hired finance, operations and marketing directors.
“For the first time, I realised that I was the reason why we were not growing past the £1.5 million turnover level. As a founder, it’s difficult to let go but I needed to share the responsibility with other people. Our goal is to be a £15 million turnover company within 10 years, and to be the go-to company for luxury home technology.”