BUSINESS DEVELOPMENT SERVICE
I JONES

“Finding Watsons when I did changed my life. My father’s business was in a poor state and I questioned whether I should have taken it on. Watsons supported me through the tough early days, giving me sound advice and helping me raise finance - first to survive and then to grow. Then they sat me down in a series of very challenging but rewarding meetings to prepare a business plan that I am still following successfully today.”

 - I Jones, owner

Client Industry
Private hire company

Turnover
£750k

Location
Sussex

Background
The client had been operating for some years as a family business run for the benefit of senior family members. The business was modestly profitable but not run to allow an easy succession from parents to the younger family members. There was little forward planning and finances were tight.

Problem
Coping with the initial problems of stabilising the business once the old proprietor had left and having to raise the necessary finance to see it through. Raising more capital to grow the business and facing the need to plan ahead for a profitable future.

Watson's Solution
To get stuck in assessing the financial state of the business and identifying holes. Then to prepare necessary budgets and forecasts to determine the profitability and cash needs before sourcing the finance. The firm undertook a business planning exercise with the client to ensure realistic objectives were set and the client was confident of the action plans and timing to achieve them.

Result
The client continues to go from strength to strength, broadening services and fast becoming the premier private hire firm in East Sussex – turnover and profitability are up and everyone is happy