Wholesale Company - Selling to the hotel & restaurant trade

Challenge

During the recent recession the company experienced the resignation of both their accounting and sales staff.

Approach

Having previously met at a networking event the client contacted us, explained the situation, whereby we suggested an exploratory meeting so we could better understand the business and long term vision. Following the initial meeting we prepared a detailed proposal containing an outline strategy and process evaluation that would be required to address the issues.

Our first concern was to stabilise the financial side of the business by ensuring that basic bookkeeping and cash flow were under control. By producing a sales forecast and budget we were able to monitor performance and produce a projected cash flow, which proved invaluable going forward especially when applying for additional bank overdraft facilities. We later assisted the client in selecting the right candidate for the bookkeeping position and continued providing a monthly management accountancy function.
At the same time as addressing the financial issues we also looked at ways of improving sales activity. Enhancing their web site by adding more relevant content, introduced a means of capturing email addresses, set-up email marketing campaigns and assisted in the selection and appointment of a tele-sales co-ordinator.
During the months that followed we became instrumental in supporting the client with various contract negotiations, such as, securing improved over-draft facilities, dissolving an existing factoring agreement and formulating a new factoring agreement.

Results

By implementing the above changes has helped to stabilise the company to work towards the clients' real ambition, which was to sell the company, a process that we assisted in by helping to qualify and choose the most suitable broker.

Methodologies & Processes Used

Business and marketing strategy, bookkeeping, management accounting, forecasting, budgeting, cash flow, contract negotiations, web site awareness, email marketing, preparing a company for resale.