Three former directors of one of the UK’s largest sports nutrition companies have established their own protein supplements business in a deal funded by Yorkshire Bank.
Mark Coxhead, Nick Smith and Karl Jacobie have founded The Protein Works to offer sports enthusiasts a high quality, but cost-effective sports supplements and nutrition service.
The company, which operates from 11,000 sq ft premises in Halton, near Runcorn, will manufacture its own products in-house, selling them through its e-commerce website to customers throughout the UK and Europe.
Mark, Nick and Karl were previously directors at Myprotein.com and helped the Manchester online sports nutrition brand become the biggest in Europe.
Yorkshire Bank’s Manchester-based Business and Private Banking Centre is providing a full banking relationship to The Protein Works, offering facilities such as working capital funding to support the launch and growth of the business.
Mark Coxhead, a director of The Protein Works, said: “The sports nutrition market has exploded in recent years and continues to grow. There has always been a premium-end and a value-end of the market, but The Protein Works aims to offer premium-end products at incredibly low prices, direct online. We call it ‘premium value’.
“We feel that customers are getting a raw deal right now with big price increases from raw material inflation and the VAT imposition. Also, the level of customer service leaves a lot to be desired. We are the only provider in the industry right now offering real value for money and innovation.”
Mark's background is in online marketing and branding for a number of high-profile businesses; Karl’s expertise extends across senior roles in operations and logistics; while Nick has extensive commercial management and product innovation experience within the sports nutrition sector.
Simon King, business development manager at Yorkshire Bank, said: “Mark, Nick and Karl are all vastly experienced in this sector and their different skill sets complement each other perfectly. The Protein Works has seized an opportunity to exploit a gap in the market and has a clear strategy for growth.”
The business has launched with over 45 different product lines with plans to expand this significantly in the coming months.
Mark added: “Our key vision for products and service focuses around pure, proven and personal. Our sports nutrition supplements will use only natural flavours and colours, backed up with independent test results.
“Quality and transparency are paramount for us. We want to offer a totally transparent service, which is why we’re allowing customers to create their own formulas and unique blends, as well as our off-the-shelf products.”