Winter Flora had a history of losses and a lack of direction and had been provided with restructured financial support by their bank.
What We Did
- Introduced financial controls and systems – agreed change to their management accountant.
- Created a profit focus
- Encouraged the renegotiation of prices and terms with suppliers and customers.
- Introduced strict stock control and rotation controls.
- Produced a sales plan which identified scope and “gaps” for potential.
- Researched the market and competitors to establish for the family there was money to be made – and how!
- Agreed a business plan, including the transfer of one of the family members (now successfully developing an alternative business).
- Introduced “Innovation” into product range, procurement, supplier arrangements and with key accounts.
Results
Ongoing mentoring continues – including the family’s other key business interests. Our input led to turnaround in a recession year, from sizeable loss to a healthy profit. Provided “mum and dad” with some peaceful nights’ sleep!