Electrical Contractor in Manchester
Information
Location: Manchester
Industry: Electrical
End goal: Sell the business for at least £1m
Biggest win: Restructuring the business, eliminating over £500k of debt and saving over 15 jobs
About Success Story
The partners of this business were like many other business owners, they were very good at delivering their projects for their clients but did not have the knowledge, skills or support to create a robust and profitable business that can eventually be sold in the future. They service a variety of B2B clients across the North West of England and have a large team of qualified professionals and a great reputation amongst their customers. They approached us to help them restructure their business as they were struggling with cashflow, large debts, minimal profits and did not have any clear marketing strategy in place.
Biggest Challenge
The business was haemorrhaging money. They were struggling to make payroll each month and were falling behind in paying suppliers. They had taken out high interest cashflow loans to try and stay afloat, however the business was racking up huge debts and was getting out of control quickly.
How We Solved It
We implemented a bespoke restructure strategy and got to work quickly to protect the business, jobs and livelihoods of the owners. This strategy allowed the business to save over £500k in around 12 weeks. We also implemented our tried and tested financial, operational and marketing playbooks to ensure the business was more robust and profitable going forward.
OTHER INFO
Whilst saving the business was a great win in itself, the most rewarding and satisfying achievement during this process was seeing the transformation in the business owners. They no longer had the weight of the world on their shoulders and with our support, they were then able to start working strategically on the business and began making better decisions which have improved the overall value of the business.
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