CLIENT:
Specialists in the manufacturer of high value lifestyle products. Name withheld  for confidentiality.

ACQUIRED:
Introduced by a business referral

DURATION:
18 months and continuing

PROJECT DETAIL:

• Improve the financial situation of the business
• Bring the company into profit
• Improve lead generation
• Improve conversion rates
• Improve manufacturing and operational processes
• Improve sales and marketing processes
• Identify manufacturing equipment and capex requirements to become more efficient

WORK UNDERTAKEN:

• Complete financial review undertaken and improved systems introduced.
• New costings templates introduced and implemented with key margin targets (KPI’s).
• Refined monthly management accounts systems introduced and financial training undertaken resulting in the directors having improved financial literacy.
• Cashflow forecasting model introduced.
• Competitor market research undertaken.
• Lead generation strategies reviewed, especially digital marketing.
• Sales strategies reviewed and systemised.
• Conversion rate strategies reviewed and new ones implemented.
• Production and operational planning introduced with KPI’s.
• Stock control systems and improved buying techniques introduced.
• Financial targets introduced to maximise efficiencies and to introduce a bonus scheme for employees.
• A new range of core products developed and introduced to equalise production capacities and to manufacture to stock.
• Company profit centres identified resulting in a strategic alliance with a building firm, enabling all building projects to be outsourced, therefore manufacturing and installations can be concentrated on.
• New dust extraction equipment installed throughout the whole factory resulting in improved working conditions and manufacturing efficiencies.
• New automated manufacturing equipment identified a £25,000 CNC machine purchased.

CURRENT STATUS:

• Company profitability re-established after 3 years of losses
• Company credit card repaid
• No ongoing cash-flow problems
• Increased gross and net profit margins
• Manufacturing team expanded by 40%
• New core products developed consisting of a range of 6 products that can be sold individually and marketed to retail stores.
• Second showroom opened in Suffolk
• New company showroom (3rd) being developed on-site owing from the conversion of current buildings.
• New website and integrated digital marketing introduced.
• New sales and conversion rate strategies introduced.

PLANS:

Anticipating continued growth in the business following one of the most successful months ever. Plans in place to launch the new range of core products very soon!