Financial Planning

Putting together a business plan

Most hospitality businesses are highly motivated by what they are building. It takes drive, grit and passion after all to see a good idea through to an action plan and then a sustainable business.

Whilst entrepreneurs know their business well and work very hard at building success, their skillsets (and bandwidth) do not always extend to those key ingredients needed for a good business to develop into a well-financed enterprise which is resilient and scalable over the long term.

The team at Wellers offers a unique suite of those key ingredients in a niche one-stop-shop, and at a price point which provides value for money. We listen to entrepreneurs and then see how we can work alongside them to strengthen their business. We have many years of experience in consulting, investing into, capital raising for and providing financier and investor introductions and legal advice to Small and Medium Enterprises (SME’s).

One of the key things that SME’s often require help with is building out a business plan suitable for stake-holders – which is rigorous, detailed and adaptable enough to demonstrate to potential investors and financiers that there is a business with solid potential and a well-communicated path to scaled-up financial success. Our team of accountants, lawyers, analysts, property and industry-specific experts ac brings together many years of experience building and articulating business plans in a way that attracts investors and financiers, many of whom we have long-standing relationships with.

On the financial side, there are a number of core building blocks which are part of a rigorous business plan:

• Reliable and verifiable data inputs
• Clearly articulated and realistic assumptions
• “Bite-sized” building blocks leading to a summarised financial result – ensuring easy navigation
• Consistency and clarity in presentation
• Stress testing of the business plan to assess robustness under different scenarios

The core building blocks of our capital raising exercise in articulating the business plan and broader proposition include:

• Taking sufficient time to fully explain the business principles in writing – this is a key part of the entrepreneur being able to succinctly explain their business model and proposition, and increasingly with an appropriate focus on its ESG credentials
• Clearly telling the story of the business – this is not the same as explaining the business model and proposition. It is the “hook” which will attract an investor or financier to a particular business
• Further to this, telling the story of who the entrepreneur/s are. After all, the “hook” is what draws investors in, but then they are ultimately investing in the talent which will drive the business’s success

For a discussion about building out a thorough business plan, please contact Guy Ruddle on guy.ruddle@wellerslawgroup.com or call 020 7481 2422